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Have a Better Understanding of Collateral Bonds in Del City

Collateral bonds in Del City are pretty easy to understand. When someone puts up something of value in order to secure a defendant’s release from jail, it is considered a collateral bond. If the terms of the bond aren’t kept, whatever was put up as collateral is forfeited.

Why Use Collateral?

Because collateral bonds in Del City can be risky, some people question why they are used. After all, someone who is putting up their home as collateral could lose that property if the defendant skips out. Most people who use collateral bonds have faith in the defendants that are being freed. They assume all the conditions of the release will be met.

More on Using Collateral

In some cases, bail is set unreasonably high. A prosecutor might make a compelling argument to the court and the judge might set a very high bail. Courts do make mistakes with bail all the time. In some cases, bail might be set too low and, at other times, too high. Collateral might be the only way to get someone out of jail who their supporters believe is completely innocent of the charges levied against them.

Being Smart

There are times when collateral shouldn’t be used, but it can be very hard for some people to say no to their family members. If a person is known to have assets, they might feel pressure from someone who is always in trouble with the law and has a high bail. A person should realize when the outcome is likely to be unfavorable for them. Sometimes, saying no to a family member who is behind bars can save a person from a lot of grief.

What Can Be Used as Collateral?

Individuals who aren’t familiar with how collateral bonds work might not fully understand what can be used for these bonds. Real estate, vehicles, investments, jewelry, and valuable items that can be pawned can all be used for collateral bonds. Some agencies offer affordable payment plans to people who have a hard time coming up with the funds for bonds.

Collateral bonds do have their place. Anyone who is considering using this type of bond should make sure they do so only for reliable people.