Top five interesting facts that you should know about bail bonds
If a loved one is arrested for the first time, then it means that you are probably new to the whole bail process. Most people do not know what goes into bail, how the bail is paid, and how an agent can help. There are a few things that you need to know about bail and bail bonds. Here are important facts about bail bonds.
A bail bond is a loan
You can go to the bail bonds agent if you do not have adequate money to settle the entire bail amount on your own. A licensed bonds agency will put up the cash to cover your bail and you pay them an agent fee that is usually 10% of the entire amount. This acts a loan that the agent gets back if the accused person shows up for the required court appearances. If a person skips bail, it will be revoked and the agent will lose the cash they put up on their behalf.
Bail services are not accessible everywhere
Your initial thought when you or a loved one is arrested will be contacting a bail bond company. However, you should keep in mind that not every state allows them. Privatized lending companies for bail bonds are restricted in a few US states. Some of these states include Kentucky, Oregon, Maine, Wisconsin, Nebraska, and Illinois. This means that if you are in these states you will need to come up with your own funds to pay for the bail money.
Avoid paying the bail amount on your own
Paying the entire bail amount on your own can negatively affect your current financial situation. With Castle Bail Bonds in Columbus Ohio, you will only be required to pay part of the bail amount and this means less risk on your part. The courts only return the bail money when the defendant shows up for all scheduled court dates and adhere to all set standards. If they fail to show up to the courts and the money is lost, you will only lose a small amount of your money.
The state regulates bond fees
Bail bonds services must be regulated by the state and must adhere to all set regulations. This includes the regulations that determine the amount and rates that should be charged for the bail bonds services. This means that trying to comparison shop to get the lowest deal is usually a dead end practice for clients. This is because these charges are regulated by the state and not an individual bondsman.
Bail amount may be returned after sometime
The bail amount is not usually returned until after the legal proceedings have been completed. Therefore, if you opt to pay the amount on your own, you should keep in mind that this amount may stay with the courts for some time. This is because the justice system experiences lots of backlogs on all levels. Therefore, this money will not be available to you if you need cash for an emergency. Furthermore, you may never get this money if your loved one misbehaves when they are out on bail.
If you or a loved one has been arrested recently, then you know that you have different options to help them get out of jail soon. Make sure that you contact a reputable bail bondsman to help answer all your questions and give you the options that you have available. With the right agency, you or your loved one will get out of jail without breaking the bank.