If you’ve been arrested, you might have the option to get out of jail on bail. For bail, cash or bond will work. But what is monetary bail? This is the money that you pay in order to get out of jail. This money is returned to you after you return for your trial. Bail gives people incentive to return if they might otherwise skip their trial date. However, many people don’t have cash to pay their bail. In this case, they might use a bailbond. Bailbonding is a service where a company pays your bail for you in the form of a bond. They receive the bond back after you’ve fulfilled your obligations, then you pay them a fee. While this is technically more expensive, bail out bail bonds will get you out of jail rather than keeping you in there for weeks while you wait to go to court.
Most communities have a bail bondsman who can help you. So if you are arrested, look for bail bond places near me. They’ll be able to help, though you’ll have to pay for their services.
If you are arrested, you’ll likely be offered the option to pay bail and leave jail while you wait for your trial. Bail is usually set at the judge’s discretion and it can be expensive. Bail cash or bond can be used to pay it. If you don’t have the money, you can look into bail bond services to help you pay the bail.
A bail bondsman will lend you the money to pay your bail. Once you return for trial, they get their money back and you pay a fee for the loan. Bail bond interest rate can vary, but it is generally about 10% of your bail amount. You need to be sure you understand the terms of payment if you use bonds to pay your bail. If you don’t pay your fees, you can land in legal trouble again. A bail bonds debt collection can be extremely stressful and cause major problems for you. So before you get a bond, be sure that you know what you are doing and how much you’ll be required to pay.
There are some 14,000 bail service agents currently working in the United States — which is a good thing, since statistics show that 52% of American men will be arrested at least once in their lifetime and, according to a study that was published in a 2011 edition of Pediatrics, one in three people will be arrested by the time they reach the age of 23.
Why do you need a bail bond service? If you’re facing jail time, consider these facts:
- Even if your crime is minor, the charges can still pack a blow to your wallet. It’s no secret that the economy’s current state is affecting people across all financial brackets. Unfortunately, the general decrease in job opportunities, salaries and more doesn’t carry over to the cost of bail for many offenses. Rather, findings by the Bureau of Justice Statistics indicate that the number of people who need money for bail has gone up by 30% between 1990 and 2006, which was the last year bail statistics were released. So the chances of needing to be bailed out, or helping someone else get out of jail, may not be as slim as you think — although your wallet may be, once you hand over the cash for the full bail amount.
- The cost of a bail bond service is often a small price to pay for your freedom. In exchange for posting a bond, a commissioned bail bondsman typically charges a non-refundable fee that is around 10 percent of the total bail amount. By using a bondsman to provide non-arrest bonds, misdemeanor bonds, and more, the accused gets out of jail for much less than the full bail amount – hence, the 10 percent fee. Sure, the downside of the bail bond service fee is that you won’t be getting it back. But you will get back your freedom, and many would argue that’s more than enough incentive.
- Time is money — and time spent in jail is money lost. U.S. jails have operated at an average of 91 percent capacity since the year 2000; on a given day, however, 60 percent of the U.S. jail population is composed of people who are not convicted, but are being held in detention as they await the resolution of their charge. Even if you’re ultimately able to pull together the necessary bail money, consider its cost in minutes, hours and days as well. Is the sacrifice of unsalvageable time truly worth it? If your answer to that is ‘no,’ a bail bond service may be the optimal solution.