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The Financial Ins And Outs Of Posting Bail

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Discovering that a family member or friend has been arrested can be troublesome. The thought of a loved one spending time in jail causes discomfort for many people, and these individuals often want to help by posting bail. If you have never had to post bail before, then you might feel a little intimidated by the process.

Learning about the financial ins and outs of the bail process will help you feel more confident in utilizing the services of a bail bond agency in the future.

1. Bond fees are set by legal statute.

You might think that you need to call around in order to secure the best bail bond fee, but this isn't true. Bail bond agencies are required to operate within the legal confines of their industry.

You typically pay a percentage of your loved one's set bail amount to the bond agency in return for the posting of bail. The percentage that a bail bond agency can charge is regulated by legal statute. This means that you can expect to pay the same amount no matter which bond agency you decide to partner with.

2. Collateral can be used in lieu of cash.

If you don't have the cash assets available to pay the fee being charged by a bail bond agency to get your loved one out of jail, it's important to recognize that there are still some options available to you.

Many bond agencies will accept collateral in lieu of cash. This collateral can be any physical property that belongs to you or the person you are bailing out of jail. The value of the collateral must meet or exceed the fee you are required to pay. Common forms of collateral can include the title to a car, a property deed, or a promissory note for a personal loan.

3. Payment plans can be arranged.

Bail bond agencies understand that the need to post bail can present a financial hardship. Since bail payments are usually not planned, a lot of people don't have the financial means to cover the full price of the fee charged by bond agencies.

As a result, some bail bondsmen allow their customers to make payments toward the fee over time. These payments can provide you with the ability to get your loved one out of jail immediately without having to front the full bail fee at the time services are rendered.


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