What Is the Difference Between Secured and Unsecured Bail Bonds?
When someone is arrested, they have to go through the bail process to be released from jail. The traditional way of posting bail in Phoenix is by using a secured bond. This requires the use of property or cash as collateral to ensure that the defendant appears in court.
A new and innovative way to post bail is through an unsecured bail bond. This does not require any collateral and is a great option for people who do not want to risk their property or cash.
When you first hear “bail bonds”, it can be confusing as to what exactly they mean. A bail bond is essentially a contract that says that you agree to pay for someone’s release from custody until their court appearances are met, in exchange for them signing over some property or cash. If they do not meet their court appearance, then you will have to pay the full bail amount.
If you are unable to afford the cost of a secured bond, it is likely that an unsecured bond will be your only option. Many people find this frustrating because they still have to pay for some type of bail bond however; there are other options available.
One option is posting a cash bond instead of using property as collateral. You can also ask for a bail bond that does not require collateral, but instead requires the defendant to pay interest on the amount of money they borrowed until their court date comes around.
Secured Bail Bond
Secured bail is paid up front using collateral, such as an automobile, property, or valuable jewelry, to assure that you will return. This may be the quickest way to get out of jail so that you can prepare your case and continue with other responsibilities while you wait for trial if you don’t have the cash to pay for a bail bond.
Unsecured Bail Bond
An unsecured bail bond does not necessitate the exchange of cash. Instead, you work with a bail bonding firm to promise your presence in court and agree to pay should you fail to do so. It’s a signed agreement, but it depends on the circumstances.
What Is the Difference?
When you’re permitted to go free while you wait for your trial, the court must make sure that you show up in court and complete the trial process to establish your innocence or guilt, as well as what penalty is appropriate if you are found guilty. Even if you’re paying a bondsman, your money is at risk. This implies that unsecured bonds are at greater risk of forfeiture, but most bonding companies work with their clients to create conditions that help assure the defendant’s appearance in court.
It’s important to note that if you are arrested after an unsecured bond is given, it may result in a warrant for your arrest. If you used collateral, the bail amount will be forfeit. This is a small price to pay to get out of jail quickly and be able to see your family instead of sitting in a cell for a few days.
Please contact us to learn more about the numerous types of bail bonds we provide. We can help you find the best solution for your situation.