My cousin was arrested a couple months ago and he has a pretty high bail. It’s been set at $1.1 million dollars. We finally put together some money for a down payment (we have about $5,000 to work with) but no one in the family owns a house or condo that can be used for collateral. We do have five cars that are owned outright and we’re willing to put up the pink slips for those. Will a bondsman accept cars as collateral on a bail bond that’s been set this high?
Unfortunately, cars won’t work. When bail at the Imperial County Jail is set this high the people who are cosigning for the defendant will need to post collateral that is close to, or equal in value to the defendant’s bail amount. In this case, you’ll need to put up $1.1 million in collateral. Although it’s good that you have relatives that are willing to put their cars up, the total value of the collateral you are able to post is far below what will be required.