4 Things You Need To Understand About Bail & Bail Bonds
If a loved one finds themselves behind bars, you may find yourself heading to a local bail bond agent for assistance. You can get better service if you have a basic understanding of how a bond works and the role a bail bond agent plays.
#1 Bail is Collateral
When you put up bail for someone, you are essentially putting up collateral for that person. This is collateral that the person who is in jail would not want to lose out on. The collateral is something that has monetary value. Although cash is common to put up for bail, it is far from the only thing accepted for bail. You can put up the deed to a home, the deed to a car, or other types of assets if cash is not possible. The point is to put up collateral equal to the amount that the court wants that the court can then seize if the person fails to show up for court.
#2 Bail Bond Form of Payment
The bail bond is the payment that is actually given to the court. Generally, one only has to pay 10% of the bond to the court. That means if the court is asking for $10,000, you only need to have $1,000 to get your loved one out of jail until their trail. Or if the court is asking for $500,000, then you need $50,000.
However, you also have to be able to pay the full amount of the bond if the person fails to show up to court. That means that although you only need to bring 10% of the cash to court, you need to be capable of paying the whole bond if the defendant skips out on court.
#3 Collateral Used to Secure Bond
You will need to use your collateral to secure the bond that you present in court. That is where a bail bonds services company comes in. If you don't have cash but are going to use an item to secure the bond, such as home, land, jewelry, car or electronics, you can bring your assets to the bail bonds company to help get the bond.
#4 Agent Backs You Up
A bail bond agent can help you out with the process of getting your loved one out of jail. They can negotiate the release of your loved one and even work with the courts to get the amount of bond requested lowered.