Collateral is the “give” in the give and take of applying for bail bonds in Angleton, TX. In order to receive a bond, you’re going to have to compensate this loan with collateral that can be used in place of money if you’re unable to pay the loan back in full. And, depending on the value of the bond issuance, you’re going to need objects that have a certain collateral value backing up your application, such as a vehicle, expensive piece of jewelry or even a home.
For people who find themselves in a bonding situation, it can be hard to identify good or bad collateral items. For example, why might your home be a good piece of collateral in one instance, but bad in another? In order to alleviate some of the confusion of assembling collateral, we’ve compiled a list of items that are generally deemed to be “good” collateral items that you can put up against bail bonds in Angleton, TX:
Unencumbered Real Estate: If you need the largest bail amount possible and are at a loss for what you can use as collateral, your home can be a good place to turn… that is, if you’ve already paid off your mortgage. Unencumbered homes are pieces of property that don’t have any debts against them, meaning you don’t have a mortgage to worry about or any other sort of expenses that may compromise the value of your dwelling. Because property is valued higher than most assets, you’ll likely be able to leverage the full value of unencumbered real estate to secure a high-value bond.
Owned Vehicles: Much like an unencumbered home, a vehicle that you own can also go a long way in providing a high bond value. Depending on the make, model and year of a vehicle, you may be able to secure quite the hefty loan amount through using a car or truck as collateral. Bail bonds companies in Angleton, TX often welcome automobile collateral, although you may be required to surrender the vehicle until the bond is repaid in full.
High Value Jewelry: Jewelry often has a high price tag attached to it in many respects and using it for collateral is one of them. A bonds office will have your jewelry appraised before it’s used as collateral to determine the current value of the piece so that it can be used to full effect to secure you a higher bond loan. It should be noted that while jewelry is a good item to use as collateral, it will only secure as much as it’s currently worth, not what you initially paid for it.
When you’re in need of something to use as collateral for a bail bond in Angleton, TX, look at your options before simply putting up what you believe to be the most valuable item in your possession. What you perceive to be of the highest value might not be what the bonding agent requires!