What can be collateral to secure your bail in Nevada?
Bail collateral is a tangible which may be returned when the case is completed. If the person for whom the collateral was provided fails to appear in court, the collateral is seized by the court or the bail bond company.
The entire amount of collateral may not always be returned to the individual. When bail collateral is returned, it is usually returned within five working days starting from the time the individual paid all financial obligations and their case concluded. Until this occurs a bail agent can hold the collateral.
Bail Collateral at 24/7 Bail Bonds (Las Vegas)
What is collateral and what is your policy?
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 car titles, real estate or cash. A bail bond company must return your collateral at the resolution of the case.
If you purchase a bail bond we charge 15% of the bond amount as a premium but the court holds us liable for 100% of the bond amount. As an example if you purchase a $5,000 bond we collect only $750 and if the defendant misses court we are responsible for paying the court $5,000 which would mean we are taking a $4,000+ risk on someone’s word that they will attend court. In many cases, this would obviously be a very poor business decision.
Our general collateral policy is that you must secure the full bond amount with some form of collateral. However, we do offer programs to qualified individuals that require LITTLE OR NO COLLATERAL.
What will you accept for collateral?
We will accept almost anything of value for collateral. The most common items to be used for collateral are vehicle title, cash, credit/debit cards, real estate, mobile homes, and jewelry. We will also accept RVS, ATVS, boats, electronics, artwork, furniture, firearms, etc. Essentially we will accept anything that we would be able to sell in the event of bond forfeiture.
Do you have to hold my collateral?
In most cases If you are using a car for collateral we would not physically hold the vehicle, all we would do is hold the title until the bond has been exonerated and then release the title back to the owner. Most other forms of collateral such as electronics, artwork, jewelry, firearms, etc would have to be stored in our secure vault until bond exoneration is received.
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Our agents at 24/7 Bail Bonds are standing buy day and night to bail you out of any Las Vegas jail.
Does the jail accept property for collateral?
No, the jails in Nevada only take cash in full to bail an inmate out. For example, if the defendant has a $5,000 bond you must go to the jail with $5,000 in cash. However, if you utilize our service you would only have to come out of pocket 15% ($750).
How is my collateral valued?
Our staff is trained on properly appraising collateral and we typically value collateral much higher than our competitors. KBB and NADA guides can be used to give you a rough idea on values for vehicles, boats, RVS, ATVS, and mobile homes and Zillow can be used to estimate real estate values. The easiest and most accurate way to obtain is a value is to simply contact us at (702) 660-1155 and we will be happy to give you an estimate over the phone.
Call the professional Las Vegas bail bondsmen
The representatives at 24/7 Bail Bonds are prepared to help 24 hours a day including holidays. Fully accredited and insured, 24/7 Bail Bonds values our client’s privacy, and we keep total confidentiality through the entire process.
If you have any problems — or wish to begin the bail process — contact us via email or call (702) 660-1155. Thanks for selecting 24/7 Bail Bonds in Las Vegas, NV.