Rather than paying the full amount of bail for an individual, you can instead get a bail bond. A bail bond will charge you a fee that will be related to a certain percentage of the bond itself. This fee is non-refundable but costs far less than the full bond. Because the fee is a one-time, non-refundable fee, you may want to look into getting the most affordable bond available.
Bail Bonds Are Highly Regulated
Bail bondsmen in all states are highly regulated, both on a state and local level. These regulations control how much a bondsman is allowed to charge. Before doing anything else, you should look into your local laws to determine what this cap is. Most bail bondsmen will likely charge around this amount or slightly lower, but you should know that if they charge more, something isn't right.
Different Types of Bonds May Be More Expensive
Ultimately, bonds that require collateral will likely be more expensive overall than a bond that requires only cash. When a bail bond is secured through collateral, it's generally because it's a fairly high amount. These loans may be a higher risk to the bail bondsman, even if they have your collateral. After all, if you don't show up when you are supposed to, they'll still have to pursue payment from you and possibly liquidate your assets.
Discounts and Sales Can Apply
Some bail bondsmen offer periodic discounts and sales. It can be worth it to call different companies to find out whether they may be able to save you money on your bail. Just as with any other major investment, it is worth the time it takes to compare quotes. Many people simply go with the first bondsman that they contact because they are in a rush, and this can be a mistake, as it leaves very little room for negotiating.
Bail Requirements May Be Different
Finally, some bail bonds may require zero percent down whereas other bail bonds may need the full amount. You should consider these promotions carefully if you don't feel as though you have enough money to afford bail. Even zero percent–down bail bonds will need to be paid off fairly quickly, however.
Remember: if the individual you're bailing out fails to show up to court, you'll automatically become responsible for the full amount of the bond. This means that you'll need to pay the debt or suffer consequences. It's always important to know your risks when signing a bond for another person.
Talk to a company such as Kwik Bond Inc for more information.
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