Officials say accepting collateral can be a risky business
Thu, 25 Jul 2013 15:05:00 GMT —
When an inmate doesn't have the cash to cover their bond amount to be released, they have the option to use an item as collateral, but some officials say it's a risky business.
The option to accept an item is up to the bondsman at the jail and after a Colquitt County inmate used a stolen ATV as his collateral, some officials say they're not fans of the process -- especially when it comes to a vehicle.
"You got to have a place to store that piece of equipment, especially if it's a vehicle or an ATV or a motorcycle or anything such as large as that because you've got to find a place to store it because you become responsible for that piece of equipment," said Lee County Sheriff Reggie Rachals.
Once the item is accepted it's turned over to the bonding company, not the Sheriff's Office, who then has to decide what they'll do with it to get the cash value.