An Easy Technique For Common Items Used for Bail Bond
If you’ve gotten word that your loved one or family member has gotten into trouble with the law, the last thing you want to worry about are expenses. Unfortunately, bail bonds are the first things you’ll actually need to deal with in order to get your loved one released from prison and in a position to move forward. explained in this post
In most states, bail amounts are set extremely high. Even the legally-set 10% fee to your bail bonds agent can often exceed a few thousand dollars. If paying for your bondsman will be difficult for you, here are some tips about common financing options and actually qualifying for bail through a bondsman.
Determine the Total Cost
Determining the total cost for your bail bonds services is easy. The amount owed to a bail bonds company cannot fluctuate. Rather, it’s set by the State Department of Insurance. For example, in California it is set at 10% of the total bail amount determined by the judge. The bail business is not permitted legally to alter the price of a bail bond.
This works to your advantage because interest charges cannot be tacked onto bail bonds fees either. While most bail bonds companies will require payment in full up front for their services, most will also offer some type of financing options or payment plans in order to stay competitive with other companies in the area.
Qualifying for a Financing Plan
Most bail companies will require a credit check in order to finance a potential client. A good credit score assures the bondsman that a client is diligent in paying bills on time and can afford his or her services.
Some will even request using a house or other assets as collateral in order to release your loved one. If you don’t think you will qualify for bail financing, consider obtaining another family member or friend as a co-signer. Then that person provides additional collateral, guaranteeing the bondsman he will not lose money if the defendant flees.
More Qualifying Factors
Again, the two main things most companies will take into consideration are home ownership and credit history. For non-homeowners, many bail bondsmen will also consider employment status, length of residency, arrest history and crime severity for consideration when determining whether you qualify for bail services and financing plans. The bail business wants to earn its bail cost fee so it will not be too discerning, but it will also not take on a shady client. Speak to a bondsman for more details.