29 Jun Collateral Damage
If a defendant gets out of jail using a bail bond from a bail agent, that bail agent becomes responsible for ensuring the defendant appears back in court. If the defendant skips court, the bail agent must pay the rest of the bond. So, what would get a bail agent, a stranger, to take on this big risk for someone they do not know? Collateral.
To secure a bail bond, the defendant and/ or any other parties helping, must pay the bail agent a 10% fee. They may also need to offer any collateral such as property and valuables. Again, if the defendant goes to court, the collateral will be returned to the owners. If not, they lose that collateral. For bail agents, collateral is a way to ensure that they themselves do not suffer a financial loss (though the person or people offering the collateral will…)
Generally, people out on bail are aware that others put their money and items at stack to secure their release. So, they are more likely to go to court so their loved ones do not suffer and their relationship to each other does not either.
For more information about collateral and bail bonds, please call Los Angeles Bail Bond Store at 323-261-2611. We can go over if and what may be asked of you in your situation and get started quickly.