When you need financial help to get out of jail, where do you turn? You may first turn to your loved ones and close friends to see if they can help. If they cannot provide you with the funds you need, you could turn to a bail bond agent. Using a bail bondsman offers a way out of jail, but it is not free. You will have to pay a fee for the services, and you can pay it with cash or collateral.
The Cost of the Services
There is a cost for using bail bond services, and it is typically around 10%. The agent multiples the 10% fee times your bail rate, and this determines the amount you will pay if you decide to use the services. There is no way out of jail without paying the bail amount or the fee to a bail bond agent. You will need to find a way to pay it if you want to get out.
How Collateral Works for Covering the Fee
When people need a way out of jail but do not have the cash necessary to cover the 10% fee, bail bond agents generally discuss collateral with them. Collateral is a term that describes surrendering assets you own to the agent. You are not permanently giving the items to the agent. Instead, you are lending them to the agent, which means you can get your things back.
You will need to find assets that you have possession of that are worth money. You could use electronics, jewelry, guns, or almost anything else that is somewhat liquid. If the asset's value covers the cost of the fee, the agent might accept it.
The Strategy You Need to Get Your Collateral Back
Now, there is an essential thing to know. If you want the asset back after this, you must pay the fee in full to the agent. The agent will keep the asset if you do not repay the amount you owe by your deadline. To pay it off, bring enough cash to the agent within the correct timeframe. Once you do this, they will return your items to you.
Anytime you turn to a bail bondsman for help, you will have responsibilities and obligations. You should find out what they are and follow them accordingly. If you have questions about your bail options, contact a bail bond agent in your city.Share