COLLATERAL vs. CREDIT vs. CASH

                                                       

                            THE SURETY BOND

 An alternative to CASH BAIL is the posting of a surety bond. This proccess involves a contractual undertaking guarnteed by an admitted

insurance company having adequate assets to protect the face amount of the bond, to the court and surety. COLLATERAL

                                             

                              CREDIT

 

Credit rating may play a part in securing the bail bond, but will not provide the immediate payment , protection and leverage should the bail bond have

to be revoke or forfeited to the court.

             

                             CASH

  CASH BAIL is posted in lieu of a bail bond and a defendant or indemnitor( co-signer) would have to pay this directly to the jail or court. Should the defendant and the partie(s) have enought cash to cover the face amount of the bail bond, they may pay directly to the jail or court, as afforded in the

 

       MN Stat. 629.53 PROVIDING RELEASE ON BAIL COMMITMENT

  A person charged with a criminal offense may be released with or without bail in accordance with Rule 6.02 of the Rules of Criminal Procedure. Money bail is the property of the accused, whether deposited by the person or by a third person on the accused's behalf. When money bail is accepted by a judge, that judge shall order it to be deposited with the court administrator. The court administrator shall retain it until the final disposition of the case and the final order of the court disposing of the case. Upon release, the amount released must be paid to the accused personally or upon that person's written order. In case of conviction, the judge may order the money bail deposit to be applied to any fine or resitution imposed on the defendant by the court and, if the fine or restitution is less than the deposit, order the balance to be paid to the defendant. Money bail deposited with the court or any officer of it is exempt from garnishment or levy under attachment or execution.

 

            

                CREDIT RATINGS

  Considering the current economy and credit ratings in general, should  any defendant and /or indemnitor (co-signer) fear a poor rating. This will

not affect the posting of any Bail Bond with us, we are a COLLATERAL primary agency.

What is Collateral?

Collateral is some property placed within the bondsman's control, which may be sold in the event the defendant soes not show for court proceedings, pay the bond, follow conditions of release, which may result in the revocation and arrest. the bondsman can then sell the collateral to cover the amount paid to post the bond(s) - bail.


What do bondsman accept as collateral?

 

Each bonding company will have their own standards but for the most part they will take:

 

*  real estate

*  cars

*  credit cards

*  cash

*  stocks

*  bonds

*  jewelry

*  personal credit lines

*  bank accounts

*  collectiables

 

to name a few, contact and make a list of unsecured property, have titles and ownership.