3 Things You Need To Know About Posting Bail

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3 Things You Need To Know About Posting Bail

19 June 2017
 Categories: Finance & Money, Blog

If you or someone you love has been arrested you are probably looking for a way to post their bail so that they don't have to stay in jail while they wait for their trial or hearing. Many people turn to bail bonds because it can be the best option for a high volume of people. Here are some things you need to know about bail bonds.

1. You Will Pay A Premium That Will Be Not Refundable

In order to get a bail bond you will have to pay a premium. This is because the bail bonds company is going to front all of the cash for the bail. You will be paying only a small portion of it. Ideally, you should try to get the money together on your own, without the use of a bail bond. But if you cannot, then a bail bond is a great option and used by many because they simply cannot afford the bail that is asked. Thus, the premium is like the interest on the loan, since this is a loan and you will not be able to get that back.  

2. You Can Use Collateral For The Loan

In some cases you can set the loan against collateral. For instance, you can take in jewelry, a piece of real estate, a car, your house, and so forth to get the loan. You can even use personal bank accounts, investments accounts, or lines of credit to get the loan. This is important because it protects the bail bondsman if something should happen and the person who is out on bail doesn't report for their hearings. The bail bonds man doesn't want to get stuck with the bill, so they will take some sort of collateral so that if the bail isn't refunded, they have some sort of recourse. Consequently, before you get a bail bond have some sort of option for collateral to use.

3. If The Person Doesn't Show Up or Is Re-Arrested, You May Lose All The Money

It is so important that the person out on bail follow the rules of the court during their bail. They should show up for their court hearings, and should avoid getting arrested again. If they are arrested again, or don't show up you will forfeit all of the bail you put up. Thus, don't post bail on someone unless you can rely on them to follow through.

These are just 3 things you need to know about bail. 

For more information, you will want to contact a company such as Betty Bail Bonds.