Facing criminal charges can be emotionally challenging, whether you are guilty or not. However, you also have to look at the financial implications of your case, especially when you have to post bail to get out of jail. Choosing between bail and jail depends on your financial status when you are charged with a particular crime. As a defendant, you have an option to pay bail cash or bond. Bail means you have your freedom on the outside, but you have to attend court hearings until the judge decides your case. Sometimes, the bail cash required may be too high, which is why you should consider working with companies and individuals who offer bail bonds services.
However, you should remember that the money you get from such sources is viewed as a loan. Therefore, you must fully understand the terms of the agreement, especially regarding the bail bond interest rate that you are supposed to pay. There has been an upsurge in bail arguments brought about by the accused who defaulted on the loan. In such a case, hiring the best lawyer can help you through the bail bond cases you might be facing. However, it is risky to default on such payments because you can get locked up and still owe the bonding company its money.
If you or a loved one get arrested, you might have the option to post bail in order to get out of jail. The bail amount is set by the courts and if you don’t pay it, you will remain locked up until your trial. Since bail can be expensive, paying bail to get out of jail is sometimes impossible for people to do on their own. In this situation, defendants have a few options. One of these options is to get a bail bond and pay their bail that way.
A bail bond is money a company puts down to pay a client’s bail. Is a bail bond a loan? Technically, yes. You borrow the money in the form of a bond, then pay it back with interest once you’ve fulfilled your duties to the court. However, you need to know the rules of your bail bond before agreeing to the loan. What do bail bond agents do if you don’t pay your fee? You might find yourself in more legal trouble, potentially returning to jail while still having to pay the money you owe.
If you think you are unlikely to ever wind up in jail, you might want to reconsider. According to statistics, about one-third of people overall and more than half of men will find themselves in a jail cell at some point. Though it’s likely that if you do get arrested it will be for a minor crime, you still may need help paying your bail. In such a case, a bail bond agency can come in handy.
A full-service bail bond company can help you or your loved ones come up with the money to get you out of jail. Since most people don’t have enough money on hand to cover a small emergency, they probably don’t have enough money to pay for bail that is even a few hundred dollars. Statistics from the Bureau of Justice Statistics show a 30% increase in the number of people who need money for bail.
The way bail works is that a bond is set by a judge and the person accused of the crime has to either pay all of it or a portion of it to be released from jail. For example, bail might be set at $10,000 and the accused person might be required to pay 10% of it. If the person works with a full-service bail bond company, the company will put up the bond and require a fee in return. For example, if you have to pay $1,000 to get out of jail, the bond company will put up the $1,000 and require you to pay $100. As long as you show up for your court date, the bond company gets it’s money back, but if you don’t show up, the company forfeits the money, which means it is likely to come after you. Many bail bonds providers use bounty hunters to track down people who fail to show for court dates.
Misdemeanor bonds are typically lower than felony criminal bonds, so you may be able to afford the bail for a misdemeanor on your own. If you are facing a felony, however, you are more likely to need the services of a full-service bail bond company. To be able to get a bond, you or a relative may have to put up some kind of collateral to guarantee the amount.