What is Collateral and Why You Don’t Need it at Cal Bail Bonds in Los Angeles

What is Collateral and Why You Don’t Need it at Cal Bail Bonds in Los Angeles

The thought of needing to bail someone out of jail is super terrifying. For some people, the situation could get worse by needing to put something up as collateral. This can make the act of bailing someone out of jail even more stressful for people. Not only do they have to worry about making payments on time, or risk their loved one being taken back into custody, they have to worry about losing a valuable belonging as well.

When companies are loaning out large sums of money, many of them like to have something as collateral. This just means that the borrower has to pledge something of value equal to the amount of money being borrowed. If this person fails to pay back the money owed, than the company keeps whatever was pledged as collateral. It is easy to see why this can add extra stress to an individual.

Some bail bond companies require collateral be pledged because bail bonds are like loans. The bail bond company is agreeing to post the person’s bail in return for being paid a portion of that bail.

Since bail is usually set at several thousands of dollars, whatever is put up as collateral would need to be worth several thousands of dollars. This means it that the collateral would most likely be a house, car or something of that nature. Losing something like this would be devastating for a lot of people, which is why we do not require collateral on most of our bonds here at Cal Bail Bonds in Los Angeles.

We want to help alleviate our clients’ stress, not add to it by requiring collateral. In most cases, all we need for collateral is the signature of a working co-signer. As long as someone co-signing the bail bond is working, no one will have to risk losing something important. This takes a lot of stress out of the bail bond process and helps allow our clients to relax.

For a free consultation to learn more about how we help clients with bail, call 877-793-2254 or click Chat With Us now.

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How Much Collateral Is Needed?

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 Cal Bail Bonds in Los Angeles 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, Cal Bail Bonds in Los Angeles 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 Cal Bail Bonds in Los Angeles, 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 Cal Bail Bonds in Los Angeles. 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:

• 24/7 Bail bond service
• 20% Discount
• Phone approvals
• 0% Interest payment plans
• No hidden fees
• No collateral with working signer
• Se habla Español

 

For a free consultation at any time, just call 877-793-2254 or click Chat With Us now.

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Do You Need Collateral to Post Bail?

Do You Need Collateral to Post Bail?

There are a lot of different aspects to bailing someone out of jail. Some things, such as giving information about a loved one to a bail agent, are easier to understand. Other things can be completely new concepts to people. One example of this would be collateral. Some people have never heard the term before and have no idea what it means or how it applies to bail.

Collateral is something that often pops up when large sums of money are being loaned to others. In its simplest form, collateral is something of value that a client pledges as an insurance that they will pay back the loan. The collateral has to be equal to or greater in value to the amount of money loaned. If the client fails to pay off their loan, then the company keeps the pledged collateral as payment for the loan.

Collateral can be any sort of item as long as both the client and the company agree that it has value. The larger the loan, the more valuable the collateral has to be. Some examples of collateral include jewelry, cars, and homes.

When it comes to bailing someone out of jail, a lot of bail bond companies require their clients to pledge something as collateral. This makes an already stressful situation even worse. Luckily, there is an alternative, just contact Cal Bail Bonds in Los Angeles. We don’t require collateral on most of our bonds. More often than not, we just need the signature of a working co-signer.

Some of the other services we provide for our clients include:

• 24/7 Bail bond service
• 20% Discount
• Phone approvals
• 0% Interest payment plans
• No hidden fees
• No collateral with working signer
• Se habla Español

 
When you need help with bail, you can always count on Cal Bail Bonds in Los Angeles. Unlike our competitors, we don’t require collateral on all of our bonds. In most cases, we are happy with just the signature of a working co-signer. We don’t want to stress our clients out by requiring collateral.

For more information on collateral and bail, feel free to talk to a bail agent by calling 877-793-2254 or clicking Chat With Us now.

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