What is Bail Bond Forfeiture?

Bail Bonds Indianapolis 317-876-9600

Bail Bonds Indianapolis 317-876-9600

When a person is arrested, a bond amount is set. Depending on the charges, bond amounts can vary from a few hundred dollars to a few thousand or more. In this scenario, a person can either pay the entire bond amount in full with personal cash, or be released from jail on a cash bond. This means they can choose to pay a percentage of their total bond amount to a third-party agency. And the standard third-party agency in this equation is a bail bond company.

By entering into a legal agreement, a person can pay a bail bondsman a percentage of the total bond to avoid liquidating all their cash for a release from jail. In Indiana, this percentage is between 10 and 15 percent. So if your total bond amount is $5,000 and you wish to get out of jail to await your scheduled hearing, you can either pay the five thousand in full, only to receive it back once you appear for court, or you can pay a bail bond company ten to fifteen percent of $5,000 instead. The bail bond fee is non-refundable, but it is generally a better financial scenario for most people, making it worth the cost.

Bailed Out of Jail on a Cash Bond

If a person gets bailed out of jail on a cash bond, they have entered into a contractual agreement with the bail bond agency. This agreement contains several stipulations, the most important of which is to appear for all court hearings on time and not violate any court orders. Failing to meet any of these requirements and more will result in the courts declaring a bail bond forfeited. This is what a bail bond forfeiture means.

If a person signs a bail agreement and then fails to appear for court or violates court orders, the bail bondsmen have a preset time period to locate them and bring them back into court; but if they fail to do so after this time period is up, they are required to pay the initial full bond amount as a penalty. And since the contractual agreement states that the signer of the bail bond is responsible for this penalty, the bail agency can rightfully take legal action against them for the money.

This also means that if anyone co-signs for a bail bond to get someone out of jail, they are agreeing to take full responsibility for the defendant if they fail to show for court or violate court orders. In this case, the bail agency can take legal action against the co-signer if they cannot locate the defendant. This is why it is important to never co-sign a bail bond for a person you hardly know.

Woods Bail Bonds

Woods Bail Bonds Indiana

Woods Bail Bonds 317-876-9600

Call Woods Bail Bonds at 317-876-9600 to get out of jail in Indianapolis and central Indiana. Licensed and insured bail bondsman, James Woods, and his team of experienced bail bondsmen, are eager to provide a prompt and professional release from jail for anyone arrested in Indiana. We have offices located throughout the entire state, making our services available for anyone, anywhere. We offer 24 hour bail bonds, as well as, notary services, jail information, pickup and drop off services, and much more. Call 317-876-9600 for fast and friendly
Indianapolis bail bond services you can trust.