Collateral is something of value that is used to secure a debt or ensure payment. Sometimes a bail bond company will receive collateral in order to ensure that the defendant appears in court. Most bail bond collateral is in the form of real estate or cash. A bail company must return your collateral at the resolution of the case.
At 1st Choice Bail Bods, collateral is generally not required for most bail bonds. We write most bail as “signature bonds” meaning the nature of the case, your good credit history and stability in the community leads us to believe we do not need collateral.
Not with 1st Choice Bail Bonds. We often negotiate no collateral bail bonds. These are called signature bonds. We find that most of our customers are eligible for a signature bond.
As part of the bail bond process, we will need you to answer many questions for the bail application. We look at many factors such as the length of time living in Delaware, employment situation, credit rating, character, type of crime, and other factors. These factors are considered for both the defendant and the indemnitor (person signing the bail bond). We do this so that we can determine risk and, hopefully, not require collateral.
If you’re arranging a bond for a friend or family member, make sure you’re aware of your bail bond indemnitor responsibility. By signing the bail agreement, you are obligating yourself to pay the entire amount of the bail bond if the defendant fails to appear in court and cannot be located.
When the defendant’s case has been completed and all financial obligations are satisfied, collateral is returned to the individual who pledged it. We realize that not everyone has a perfect background, but most of our customers find it easy to qualify for a signature bond. We also offer many payment options and our bail agents can help you arrange an affordable bail bond that meets all the requirements of Delaware law.
To speak with a licensed Delaware bondsman and for immediate bail service, please call 302-FREEDOM (302-373-3366). Remember our number Spells FREEDOM.
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