Questions And Answers Concerning Bail Bonds And Money
Posted on: 20 September 2018
Bail bonding someone out of jail the first time is never fun. It is also a confusing process. If you are trying to quickly find helpful information, there is a lot of it on the internet, but some of it contradicts itself. At the heart of it all is money, and you never want to make a mistake where money is concerned. To make matters easier, the following questions and answers about bail bonds and money are provided.
What Is "Cash Bond Only"?
The judge that declares this is stating that you can only get your relative out of jail by paying the full bail amount set in cash only. If the judge says "$5,000, cash bond only," he/she means that only five grand in cash, certified bank check, or possibly money order is allowed. A bail bond agent cannot help you in this case because bond agents would have to put up a lot of their own money to get the person out of jail. That is not a risk most bond agents are going to take.
How Much Do You Need for a Bail Bond?
In most instances, ten percent of the total amount set by the judge is all you need to give the bond agent. A few bond agents charge twenty or thirty percent, depending on the severity of the charges and/or the possible flight risk involved. Usually anything less than fifty thousand in bail is just ten percent. If your relative is lucky, that means that you will only have to come up with two grand or less.
What Happens to the Ten Percent You Give the Bond Agent?
Typically, you get nothing back, not even when your relative makes all of his/her hearings as scheduled. Your ten percent is split between the courts for its fees, and the bond agent for his/her fees. The only time you might get anything back is when your relative is found innocent, and there are leftover funds after the courts and the bond agent take their cuts.
What Happens When You Use Valuables or Property to Secure Really High Bail?
If you use your house, your car, or any valuables, you must surrender these to the bond agent when your relative jumps bail or is found guilty. That is a really high price to pay. You can choose other routes to find funds, loans, and financing for the bail money that would allow you to keep your property and valuables.
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