Do You Know What Collateral Is?
When it comes to lending people money, businesses often like to take something as collateral. However, some people have never needed to give anything as collateral before, and so, it’s understandable that they do not know what collateral is.
When it comes to loans and collateral with businesses, the amount borrowed is usually several thousands of dollars. This means that the collateral itself has to something expensive, usually a house or car. This is the reason why some people do not like collateral. They do not want to risk losing their house or car.
Collateral at Newport Beach Bail Bonds
At Newport Beach Bail Bonds, we do not usually require collateral on most of our bonds. Instead, we simply need our client’s signature as collateral. This means that when you get a bail bond with us, you simply sign a contract saying you will pay off the price of the bail bond. When you get a bail bond from us, you will not need to put something valuable up as collateral, meaning you do not have to risk losing something important.