How To Obtain A Surety Bail Bond Without Collateral

If someone you know has been arrested and is sitting in jail, you might be able to bail them out. However, bailing an individual out can be expensive and you might need to turn to a surety bail bond service. Sometimes, a surety bail bond service requires collateral, but this isn't always the case.

How Collateral Works

Collateral is an asset that is used to secure a bond. The bail bond service then has the right to sell the collateral to pay for the cost of the bond in the event that the defendant does not show up in court. 

There are many reasons why you might not want to use collateral. You may not have assets that can be used as collateral or the only assets you have may be too important to you and you may prefer to not use them as collateral. 

Signature Bonds

A bail bond that does not require collateral is referred to as a signature bond. The smaller the bail amount, the more likely that you will be able to obtain a bail bond without collateral. However, even with a bail amount that is very high, you might be able to receive a no collateral bond if the other conditions are right.

How to Qualify

Your credit score plays a major role in your ability to obtain a signature bond. If you have excellent credit and a respectable income that can be verified, you may be able to obtain a bond with no collateral. 

Other Factors

The bail bond service may be more likely to offer a bond without collateral depending on the criminal history of the defendant. If the defendant does not have a history of committing crimes, the bail bond service might be more comfortable with offering a signature bail bond. Also, if the defendant was employed for a long time and is known to have a good moral character, this can affect your ability to obtain a bond.

Contact a Surety Bail Bond Service

If you aren't sure if you will be able to obtain a signature bond, simply contact the bail bond service as soon as possible. They will be able to explain whether you are eligible or whether there are other options available for you. For example, you might be able to use your bank account as collateral rather than relying on other types of assets such as land or a piece of artwork.

For more information, contact a company like A Professional Bail Bonds.