If you are preparing to bail a friend or loved one out of jail, it is wise to learn all your payment options since you will be the co-signer on the bail bond agreement. This agreement will hold you fully responsible for paying back the entire bond premium if the defendant fails to appear for court. Continue reading to learn how you can come up with the funds to pay for a bail bond, and which methods of payment are accepted at local bail bond company.
Bail Bond Basics
The United State government presumes we are all innocent until proven guilty. As a response to this amendment, most individuals who are arrested are given the right to bail. This means they pay the court bail, either cash or collateral, in exchange for a release from jail. Most often, bail bond companies only work with liquid assets. This includes cash, as well as, certain types of liquid collateral, namely property. So what does this mean for someone who wishes to obtain a bail bond? It means they have options for how they want to cover the cost of a bail bondsman’s services.
Raising Funds for Bail Bonds
When obtaining a bail bond from a local agency, you will only be required to pay a set, state-regulated percentage of the total bail premium set by the judge. For example, if a judge sets bail at $5,000 and a bail bondsman charges 10%, you will be a non-refundable fee of $500 for a bail bond. In the case that your friend or loved one does not appear for court, you will be required to pay the remainder of the $5,000 back to the bail bond company because they fronted that amount to get the defendant released from jail.
Payment Arrangements
Most bail bond companies do not offer any type of payment arrangement or financial assistance. As mentioned, they generally work with cash, which means their standard accepted methods of payment include cash, money orders, debit card transactions, and sometimes bank checks. If you decide to put up your personal collateral, they will use documents such as deeds to secure the deal.
Finding money for bail is not always easy. You can ask to borrow money from friends and family, or take out a bank loan or payday loan. You can also pick up extra hours at work, sell some of your belongings, or get a second, part-time job. If you are having trouble coming up with the funds for a bail bond, simply contact a local and trusted agency that offers the lowest state-regulated fee.
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Right now, Woods Bail Bonds is currently offering 8% bail bonds! This is the lowest rate in years, and only available here! That means you only pay 8% of your total bond amount, rather than the standard 10 to 15% rates required across the state. In order to qualify for this low rate, you must meet certain criteria. Best of all, we serve over 33 Indiana counties with reliable, 24 hour bail bonds, even on National holidays. Call 317-876-9600 to talk to a friendly and knowledgeable Indiana bail bondsman to learn if you can qualify for 8% bail bonds in Indiana!
