Qualifying for Bail Bonds

It is tough enough to find out that a loved one—son, daughter, spouse, or sibling—has been arrested without having to worry about the costs. It is definitely not cheap to get arrested. The bail bonds can also be very costly, along with the pricey trial costs. But there are ways of helping to alleviate some of the payment difficulties. Here is a quick guide on how to qualify and techniques for bail bonds that can help ease the financial burden. Have a look at Danville bail bondsman.

Know the expenses

State law determines the price that companies can charge their clients for bail bonds. For example, the State of California mandates that the fee collected by a bail bondman be set at exactly 10 percent of the total bail, no more and no less. Do not negotiate with bail bondsmen who offer or attempt to overcharge you with discounts. They break the law.

You can pay for this fee via cash, most major credit cards, or money transfer. Many bail bond agents require all the money up front, because if the suspect jumps bail, it is the best way for them to ensure they get paid and don’t lose money. But in certain situations, if the compensator, or the person signing the bond, can demonstrate financial stability, many bondsmen will allow for a long-term financing plan.

Paying with a plan for funding

Ask about the possibility of using a financing plan to pay the amount over several weeks or months if you can not afford to pay the entire bail fee up front. You may qualify depending on your financial history, and this option will be enabled by the bail bond company. It is important to know that you do not have to pay any interest if you set up a payment plan. The fee cannot be levied for any reason whatsoever, including of course, charging interest on a long-term payment schedule.

Factors for financial credibility to qualify

Home ownership and credit history are the two main factors that a bail bond business will take into account. If you are a homeowner, if the arrestee flees, it demonstrates that you are financially stable, can afford to pay bail, and are able to provide collateral. The same can be said for individuals who pay their bills on time with good credit. They will have no trouble finding a willing bail bondman and even receiving a funding plan for bail bonds.

It is tough enough to find out that a loved one—son, daughter, spouse, or sibling—has been arrested without having to worry about the costs. It is definitely not cheap to get arrested. The bail bonds can also be very costly, along with the pricey trial costs. But there are ways of helping to alleviate some of the payment difficulties. Here is a quick guide on how to qualify and techniques for bail bonds that can help ease the financial burden.

Know the expenses

State law determines the price that companies can charge their clients for bail bonds. For example, the State of California mandates that the fee collected by a bail bondman be set at exactly 10 percent of the total bail, no more and no less. Do not negotiate with bail bondsmen who offer or attempt to overcharge you with discounts. They break the law.

You can pay for this fee via cash, most major credit cards, or money transfer. Many bail bond agents require all the money up front, because if the suspect jumps bail, it is the best way for them to ensure they get paid and don’t lose money. But in certain situations, if the compensator, or the person signing the bond, can demonstrate financial stability, many bondsmen will allow for a long-term financing plan.

Paying with a plan for funding

Ask about the possibility of using a financing plan to pay the amount over several weeks or months if you can not afford to pay the entire bail fee up front. You may qualify depending on your financial history, and this option will be enabled by the bail bond company. It is important to know that you do not have to pay any interest if you set up a payment plan. The fee cannot be levied for any reason whatsoever, including of course, charging interest on a long-term payment schedule.

Factors for financial credibility to qualify

Home ownership and credit history are the two main factors that a bail bond business will take into account. If you are a homeowner, if the arrestee flees, it demonstrates that you are financially stable, can afford to pay bail, and are able to provide collateral. The same can be said for individuals who pay their bills on time with good credit. They will have no trouble finding a willing bail bondman and even receiving a funding plan for bail bonds.