When you sign a bail bond agreement to bail a friend or loved one out of prison, it is important to know it will cost you a lot of money. Many people end up using their cars and homes as collateral to help pay for the bond. Will this money you put down ever be repaid to you? Here are some things to know about bail bonds and what it can cost you.
Surety Bail
Hiring a bail bond agent to help if the best way to know what you are getting yourself into. A bail agent will be able to write a surety bond for the defendant, which makes it cheaper as you only need to pay the bail premium. The premium is only a small percentage of the total bail amount. However, the bail bond is not refundable, which is important to know. The premium is used to pay the bail agent’s services, and to make sure the person shows up on time for their court appearances.
Cash Bail
A cash bail is when you pay cash to the court to bail the person out. You will pay the full bail amount to the court, and the court will refund the money if the individual does show up to their required court appearances. However, the money will be forfeited if the person does not show up to court. If the person is arrested again while they are out on bail, no money will be refunded. The bond is discharged if the defendant is found not guilty. For someone found guilty, the discharge will occur with the sentencing begins.
Property Bond
The property bond is used when you offer property to pay for the bond such as your home or car. If the person fails to show up to court, the item used will be seized.
Bonds can be confusing, and expensive. Contact our office to discuss your bail bond needs and make sure you understand all the facts before you sign the dotted line!
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