4 Questions To Ask When Using A Bail Bond
When a friend or family member is arrested, a judge will determine the amount of their bail. Bail is a monetary amount that the defendant must pay to secure their release from jail until their trial. Once the defendant makes their court appearances, the bail is returned.
If the accused can't make bail, a bail bond is one alternative. A bail bond is a product that enables the accused to pay a small percentage of the bond; the bail bond company covers the rest of the bail amount. Should you need to use a bail bond, here are a few questions to ask.
1. How Much Is the Fee for the Bail Bond?
In exchange for their services, expect to pay a non-refundable fee to the bail bond company. This fee varies depending on your state and the specifics of your situation, but it's typically around 10 percent of your bail amount.
Assume that your bail is set at $2,000. If the bail bond fee is 10 percent, you'll pay $200 to the bail bond company. Knowing the amount of the fee will help you adjust your budget accordingly.
2. Is the Bail Bond Fee Due Upfront?
If you're dealing with a large bail amount, it's possible that covering 10 percent of the bail amount might stretch your budget. Fortunately, some bail bond companies have programs that enable you to make payments on your bail bond fee.
Talk to your bail bondsman about their payment plans, including the length of the plans and the criteria for qualifying. The bail bond company will usually examine your credit history, arrest record, and employment history when deciding whether to approve a payment plan.
See if you'll owe interest or additional fees on the bail bond and how much these costs will add to your total cost.
3. Does the Bail Bond Require a Consigner?
In situations where your credit is lacking or the bail bond company feels the specifics of your situation are too risky, you might need a cosigner to qualify for the bail bond. A cosigner is legally responsible for paying the full amount of the bond if the accused doesn't make their court appearances.
It's possible for a cosigner to withdraw their consent for the bond. Should this occur, the accused will need to turn themselves in. Otherwise, the bail bondsman can apprehend them.
4. Is Collateral an Option?
When a credit-worthy cosigner isn't available, another option is to put collateral up for the bail bond. If the accused doesn't appear in court, the bail bond company will seize the collateral to cover the remainder of the bail.