06 Mar How Much Collateral Is Needed?
Most people have a lot of questions about how bail works when they deal with it for the first time. If that is the case for you, don’t worry. Our bail agents here at Happy’s Bail Bonds in Bakersfield are used to answering all kinds of questions. One of the many common questions that our agents get is what is needed for collateral?
For those unaware, collateral is something of value that is pledged as a sort of back up for payments. The pledged item has to be of equal or greater value to the loan amount. If a client fails to pay off the loan, then the company keeps the pledged item as payment. Most financial institutions prefer to use collateral to ensure they get paid back for any loans.
Getting a bail bond is very similar to getting a loan, except the money being lent out goes straight to the jail. This is why a lot of bail bond companies require collateral. However, Happy’s Bail Bonds in Bakersfield does not. We understand that requiring collateral on a bail bond makes rescuing someone from jail even more stressful, so we avoid it whenever possible.
Instead of needing something of great monetary value like a house or car, at Happy’s Bail Bonds in Bakersfield, we prefer to use the signature of a working co-signer as collateral. Someone who is working at a steady job and is willing to co-sign a bail bond is far more valuable than any house or car.
If you need help with rescuing someone from jail, come to Happy’s Bail Bonds in Bakersfield. Our bail agents are ready to assist you 24 hours day, 7 days a week. They will happily answer all of your questions and help you secure your loved one’s release from jail. Some of the benefits we provide for our clients include:
• 20% Discount
• Phone approvals
• 0% Interest payment plans
• No hidden fees
• No collateral with working signer
• Se habla Español
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