My wife was arrested last night on felony DUI charges and her bail was set at $100,000. I’ve been looking around on the internet and I’ve seen a bunch of ads for zero-down bail bonds. How can I find out if I’m eligible for that? Money is a little bit tight right now because of the holidays.
No money down bail bonds situations are rare, but that’s not to say it’s impossible to find a bondsman that offers these terms. As a general rule, the bondsman will require several things. The first will be property collateral, and they will want to know if you have someone who can cosign who owns a house or condo that has $100,000 in equity. The bail bonds agent will ask the cosigner to sign a deed of trust which will allow the bondsman to put a lien against the property.
When the case is over, and the bail bonds balance is paid off, the lien will be released. Second, the bondsman will require the cosigner have a steady stream of income. If you have property collateral, but none of the cosigners have steady income, it’s unlikely you’ll be eligible for $0 down bail bonds. For more information on how California bail bonds work call our office now at 888-224-5266.
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