4 Interesting Facts About Bail Bonds You Should Know
Posted on: 3 December 2021
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One of the tenets of American justice is that a person accused of an offense is guaranteed limited freedoms as they wait for their cases to conclude. A bail bond is one of the most useful tools in your defense when arrested and charged. It allows you to deposit surety in court in exchange for your freedom. Anyone can post your bail, but usually, your lawyer will arrange with a bail bond agent to post the bail. The bail agent posts the bail in exchange for some fees and collateral. Here are some interesting facts you should know about bail bonds:
A Bail Bond is a Loan
A bail bond is a surety pledged by a bail agent on your behalf as collateral that you will appear in court. The court holds the surety for as long as you make your court appearances. The surety is returned at the end of the case, whether you are found innocent or guilty.
But bail agents are businesses that make money by offering you this convenience. Therefore, you must pay interest or fees on the amount posted.
Bail Bond Fees are Regulated
The money you pay to the bail bondsman is called bail bond fees. For example, if bail is set at $10,000, the bail bondsman will require $1,000 or 10% of the surety they post. These fees are regulated in most states to safeguard citizens.
You Can Be Arrested For Jumping Bail
You have jumped bail when you fail to show up in court as expected. The bail bondsman is forced to forfeit the bail until you show up in court. Also, the court will issue a warrant of arrest when you jump bail.
The bail bondsman will also send bounty hunters after you so that they can recover their bail. If the bail is a high amount, bounty hunters can hunt you for a long time across the country.
You Can Deposit Other Collateral
Often, collateral for bail bonds is deposited as cash because it is the easiest to arrange. If you want to get out of jail fast, cash can get you out in a few hours. However, you can deposit other collateral, including real estate property, bank accounts, jewelry, acceptable bonds, and stocks. But it is important to consult with a bail agent to determine what they will consider acceptable collateral.
Would you like to secure freedom for a loved one in jail? Call a bail agent to arrange a quick bail bond and secure their release.
For more information on bail bonds, contact a professional near you.