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Immigration Bonds: No Collateral
After an immigrant is detained by the United States Immigration and Customs Enforcement (ICE) agency, the immigrants themselves and their families are often relieved to learn about the existence of immigration bail bonds. This bond means that the immigrant can return home to their loved ones shortly after their initial arrest and remain free until their case concluded through the court system. Unfortunately, the cost of the bond can out of reach for families who face the circumstance unexpectedly. In these cases, family members often seek services who provide immigration bail bonds. No collateral or the inability to pay the require percentage of the bond; however, can still present a challenge in securing a bond.
Typically, the cost of an immigration bond can range anywhere from $1,500 to $10,000 or more. When the amount leans towards the higher end of this spectrum, it can be nearly impossible for family and loved ones to raise this amount of money on their own. In some cases, families attempt to raise this money through community fundraising efforts or by selling assets and pooling money together as a group. When these efforts are not enough, the assistance of an immigration bond service is sought.
An immigration bond service or company is helpful in these cases because they only require the immigration bond sponsor to pay a percentage of the total bond amount. This amount varies based on which company is used, but typically does not exceed 20%. This means it is much more plausible to come up with the funds needed when the bond amount is exceedingly high. Sadly, paying this percentage is not always enough to secure an immigration bond. No collateral to pair with this money is one of the main reasons that families are denied by a bond service.
This is because collateral helps to ensure that the company or service would be able to retrieve the remaining cost of the bond if the immigrant were to fail to appear at future court proceedings. Without the collateral, the company takes a huge risk and stands to lose a significant amount of money. Although there are some immigration bond services that are willing to take this risk and offer immigration bond no collateral agreements with sponsors, they may require a much higher percentage of the bond to be paid than is otherwise required. This can be a simple solution for families who can afford to pay the extra money, but it is important to note that this money is not refundable. Â Whether it is the title to a vehicle, the deed to a home or a family heirloom, in most cases, sponsors should be prepared with a form of collateral before attempting to secure an immigration bond.
If you or your family are struggling to secure an immigration bond, no collateral doesn’t have to mean that your loved one is destined to remain in ICE detainment. For help securing the release of an immigrant, contact us today to learn what options are available to you.