A bail bond service is a company that helps people to post bail. When someone is arrested, they may be released from jail pending their trial if they can post bail. Bail is a sum of money that is paid to the court in order to ensure that the defendant will appear in court when required. If the defendant does not appear in court, they may forfeit the bail amount.
Bail bond services help people to post bail by arranging for a loan against the bail amount. The loan is usually provided by a bonding company or an insurance company. The fee for using a bail bond service is typically 10% of the total bail amount.
Using a bail bond service can be expensive. For example, if the bail amount is $7,500 and a 10% premium of $750 is paid to the service. If you are required to pay interest on top of this amount, it can get even more expensive.
How does it work?
Bonding companies usually charge a non-refundable fee, often 10% of the total bail amount.
The company then puts up the remaining 90% of the bail amount. If the person doesn’t show up for their court date, the bonding company loses that money.
In most cases, you don’t have to pay back the bond unless you skip your court date.
If you do miss your court date, you’ll have to repay the full amount of the bond, plus interest and any other fees that may have accrued.
There are several benefits to using a bail bond service:
- You can get out of jail quickly
- You don’t have to put up any money until you are released
- You don’t have to look for someone to cosign for your bond
Some people prefer using a bail bond service because it’s quick and easy. You can get out of jail right away, just by getting in touch with the company that is providing your bond. They will take care of everything else.
When considering whether to use a bail bond service, you should know that there are other options available to help you post bail. For example, many courts allow defendants to deposit 10% of the total bail amount if they won’t release from jail pending trial. Other alternatives include using a credit card or hiring an attorney who may be able to post the full amount on your behalf And finally, family members or friends can often post bail for defendants without using a bail bond service.
Whichever option you choose, be sure to weigh the pros and cons before making a decision.