Is collateral always required for a bail bond and what payment types are accepted?

When it comes to bail bonds there are different forms of payment that can be given. While the most common form is cash, bonds agents are open to other forms of payment – however, none of them are very palatable; the reason for this is to make showing up in court very attractive by making repayment of the bond so crucial. The bail bond industry is a thriving and lucrative one. There are always people who need the bail bond agents in their area to help them make bail – the catch is, you have to show up in court or have to face their goons who will undoubtedly come after you for the money you owe.

Depending on the amount of money that you need to post as a bond, the bail bonds agent has several ways of obtaining that money. Since most banks and other financial institutions are averse to helping people post bail, bonds agents will do the job for them – but at a price. Along with their 10% to 15% fee they will have to come up with the money somehow. If you have a high amount of bail to post, they might even mortgage your home in order to obtain the funds. Therefore, if you do not show up for your court hearing, you will not only have a criminal record, but you will lose your home as well.

The advantage to using a bail bond agent is that they know the court system well and are usually able to obtain your release quickly. The price you have to pay to use their services might seem steep, but as long as you show up for your court hearing, you will have nothing to fear. Besides, a 10% to 15% fee is insignificant when weighed against having to spend the time leading up to your bail hearing in jail.

Bail Bonds   |  February 19th, 2011    | 

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