If a defendant doesn’t have the cash to post a bail bond to get out of jail, which is around 10% of the bail amount, other options include certain common forms of collateral. Collateral usually needs to be equal to the amount of the bond, and it is a kind of guarantee or placeholder that the arrested person will show up in court. When the defendant does appear for court, and at the conclusion of the court case, the bail bond is dissolved, and the collateral is returned to the person who posted it. While bail bond agencies set their own standards, most of them accept a variety of bail collateral, including some of the following most accepted forms:
The title of a home can be offered to the bail bond agency as a form of collateral. However, you must have equity in the home, and the home can’t be in the foreclosure stage.
If you hold the title to your vehicle, you can place it up as collateral for a bail bond. You must be the vehicle’s title holder, and you can’t have any outstanding liens or loans on it.
If you own any valuable jewelry, you can choose to put it up as collateral. The most common kinds of jewelry as collateral are gold and diamonds, but other pieces that have been appraised as valuable may be usable.