Vital Aspect to Take into Consideration When Acquiring a Bail Bond
Bail bonds are vital to consider when you get arrested, and you can be able to meet the full amount of the bond. The court will have surety bond that will assure that you will be coming to your court trial and gives the court a reason to release you. In the case, that you fail to show up for your trial the company that bonded you will get to meet the full bond amount, and it will be paid to the court. Depending on the location you are arrested in the bonds will vary. read more here for the crucial aspects to see you take into consideration about bail bonds.
It is vital to meet the agreement amount you contract with a firm to pay for their services. If you fail to meet it the company can sue you in the civil court. When the case is complete, that is to term as a civil affair. If the bail bond you agree on will include collateral, there will be personal assets involved. The ownership of the property will fall on the hands of the bail bond firm if you fail to meet the payment agreed on the contract. The ends up selling the assets to pay themselves and if there is a surplus, they will pay it back. The company will end up taking you to court if you fail to pay the amount needed to pay and you didn’t secure your situation with collateral.
You will incur a fee of 10% of the bail bond the firm paid for you after the case is over. On the other hand, if you had collateral it would be returned. But note money is never refunded that is how the bail bondsman makes their living that is even if the charges are dropped. Understand that the bondsman has the authority to revoke the bond. That is possible when you fail to go to the court and they have evidence as the defendant you may forfeit the bond. The option remains to turn you in to protect their interest.
People always wonder what the cost of bail bond is. Note that the amount of the bond will be governed by with the place you are. 8-10% is where the cost of the bail bond ranges of the amount the court sets. That means if you are having a bail bond of $50,000 your case you will be most likely asked to pay $5,000. No discounts or reduced bail bonds if the firm bailing you asks for collateral.