What You Should Know Before Applying For A Bail Bond
Posted on: 25 January 2019
If you are applying for the bail bond, it is important to know that there is a lot that may be expected of you. Even though you want to help your friend or loved one out, you want to be aware of what may be expected of you so you can be prepared for the entire process. To help with this, you will want to review the following information.
You Are Going To Need Cash
Do not make the mistake of assuming that the bail bondsman is going to take care of every penny of the bail amount. Usually, they request that the person applying for the bail bond gives at least ten percent of the bail amount. Therefore, if the bail is set at $10,000, you will need to come up with $1,000. The bail bondsman will then cover the rest. Remember, you are on the hook for the entire balance should your friend or loved one fail to appear for their court dates for one reason or another.
You May Need To Give Some Collateral
The need for collateral will depend on how much money you are seeking help with and the policy of the bail bondsman that you are trying to do business with. In most cases, collateral is needed in order to protect the best interest of the bail bondsman when he or she is being asked to help with a substantial amount of money. Some examples of collateral may be a vehicle or a home. They would need to be paid off and you would need to be able to provide the title or deed in order to use it as collateral. The only way you would lose your collateral is if your friend or family member did not hold up to their end of the agreement and you were unable to pay back the bond in cash. If all goes well, once everything is settled with the courts, you would receive the title or deed back.
Now that you are a little more informed about what you can expect when you go to apply for a bail bond, you are ready to call to make an appointment. If you need to obtain a bail bond over the weekend, late at night, or on a holiday, you will want to specifically search for a bail bondsman that is available at all hours and on every day of the week.
Share