Tag Archives: bail Collateral

4 Ways to Earn Bail Bond Money in Marion County Indiana

Posted on by

Because of professional bail bond services offered in Marion County, getting a person out of jail is typically a simple and secure process. But if you do not have enough money to pay for a bail bond, obtaining a release from Marion County Jail in Indiana is not likely possible. Fortunately, there are ways you can come up with enough money for a bail bond if you are low on cash.

In fact, continue reading to learn the top 4 tips for earning bail money in Marion County Indiana and who to trust for the fastest bail bond services in Indianapolis.

Indianapolis Indiana Bail Bonds 317-876-9600
Indianapolis Indiana Bail Bonds 317-876-9600

How to Get Cash for Bail

Property Lien

This uses a person’s home (they have to own the home) as collateral for bail payment.  The bail agency puts a lien on the home.  The lien is released once the person shows for court and is placed in jail and the ordeal is done with.  If the defendant fails to show up for court, the bondsmen can begin foreclosing procedures on the home.

Borrowing Money

This is one of the most common ways people raise money that they don’t have themselves, to bail someone or themselves out of jail.  Borrowing from a friend or family member is an option often taken, but if the bail is really high, then borrowing from multiple friends and family would be the only way of getting all the bail money you need.   The money is returned once the person shows for court and the hearing is complete, allowing you to pay back everyone.

Pawn Shops

Many people who need a fast way of raising money for bail can turn to pawn shops where you can pawn valuables for cash.  There is usually not a good return at pawn shops because you will be offered significantly less money for the object than what it’s actually worth.  If you paid $500 for a ring, the pawn shop will probably offer you $50-$75 for it.  Be prepared for this low return.  But once the bail money is returned by the court, after the person shows up for their hearing, the money can be used to pay back the pawn shop and you will get that ring back.

Selling Personal Property

If none of the above options work, a person can always sell some of their property to gain bail money.  People can sell stereos, motorcycles, electronic devices, cars, exercise equipment, furniture, and any other personal property worth money.  They can sell this property online, to neighbors, friends, or family.  The risk involved is losing all your valuables.  They will not be returned once the person being bailed out of jail goes to court and finished their proceedings.  They would have to promise to compensate you on everything you sold, to replace it once they are out of jail. 

Do you need to get someone out of jail in Indianapolis right now? Contact Woods Bail Bonds at 317-876-9600 for 24 hour bail bonds in Marion County, or anywhere in Central Indiana. We also offer prearranged bail bond service for arrest warrants.

You Should Also Read:

Do I Need to Take My Arrest Warrant Seriously?
Which Payment Types are Accepted By Bail Bondsmen?
Do I Need to Hire a Lawyer to Get Out of Jail?

Do I Need Collateral for a Bail Bond?

Posted on by

It can be quite a confusing time for anyone dealing with the need for a release from jail, whether for themselves or a loved one. Fortunately, our jail systems work closely with local bail bond agencies, giving inmates and others an opportunity to get out of jail and await their scheduled court hearing from home. With bail bond services, there is no need to miss work and be reprimanded or worse, fired, nor miss important familial responsibilities that require your attention. Best of all, bail bonds allow individuals to get their legal defense in order prior to their court dates, which increases their chances of avoiding the maximum penalties for their criminal charges.

But as mentioned, bail bonds, regardless of all their benefits, can also be quite confusing. A common inquiry surrounding the bail bond industry has to do with collateral. Many people are misguided on the terms and conditions of bail bonds, collateral, and financial liabilities.

Continue reading to learn what you need to know about bail bonds, including what collateral is and when you may need it for a release from jail.

24 Hour Bail Bondsman 317-876-9600
24 Hour Bail Bondsman 317-876-9600

Explanation of Collateral

Collateral simply refers to a person’s assets that can be translated into cash, and thus, adequate to secure a debt. A person will provide collateral in exchange for a service (such as a bail bond), and if they cannot cover the terms and conditions of the contract (a bail bond agreement), they will forfeit their collateral, and the service provider (a bail bond agent) will still be able to collect financial restitution for the value of the collateral. If the payee does meet the terms and conditions of the contract, the provider returns all collateral once the case is closed.

Types of Collateral

The most common types of collateral are real estate and vehicles, as well as, bank accounts, bonds, stock, cash, and more. The type of collateral put up by an individual is at their own discretion, and largely depends on how much debt they need to secure and what they are willing to lose if things go wrong.

Using Collateral for a Bail Bond

Most bail bond companies do not require collateral. Collateral is typically applied for high-profile or egregiously-expensive bonds. Rather than collateral, most individuals need to be employed, have reliable income or cash, and a good reputation within the community to be granted a bail bond. Not sure you can afford a bail bond? See our blog, “Your Options for Covering the Cost of a Bail Bond” to learn what you can do. Talk to a licensed and insured bail bond agent for trusted advice on paying for a bail bond in Indiana.

Need to Get Someone Out of Jail Today?

Call Woods Bail Bonds at 317-876-9600 for safe and secure Indianapolis bail bonds you can trust. We also offer prearranged bail bond services for those needing to surrender to an arrest warrant. In some cases, we can get you turned in and released in as little as one hour. And don’t forget that right now, we are offering 8% bail bonds! Request a free estimate or jail information, anytime.

Indiana Bail Bonds 317-876-9600
Indiana Bail Bonds 317-876-9600