If you have never been arrested or needed to post bail before, you might not know some facts about how the process works. You might not know the fees associated with getting a bond and how does a bondsman get paid. There are a few things you should know before you need to contact a bondsman.
Information Bail Bondsman Need
When you contact a bondsman there is some important information you will need to give them in order for them to help you effectively. You will need to tell them where you or the person you are representing is being held in custody. This includes the city, state and the name of the jail. You will need to give them their or your full name and booking number so the bondsman can contact the jail. They will also need to know the amount of the bail. If you don't know it, the bondsman can contact the jail to find out.
Will You Get Your Money Back?
When you pay your bond company, for the most part, you will not get your premium back. This is the fee that the bondsman has earned to loan you the money to get yourself or your loved one out of jail. If the defendant is re-arrested while out on bond, that money is forfeit and you will not receive any of it back. The exception to this is when the bonds company fails to live up to their responsibilities of the contract and you might be eligible to receive your funds back.
Can You Get a Discount?
The fee that you pay to the bond company is regulated by your state's statutes and regulations. These regulations state the minimum and maximum amount that their rates may be set at, and this is a percentage of what the bail is set to. A company that offers to discount their prices might lose their license because they would be going against the state's regulations regarding what they are allowed to charge. They are also not allowed to charge over the maximum allowed percentage to avoid gouging.
Just like with a bank, you will most likely need to have some form of collateral in order for a bond company to work with you. This collateral isn't always in the form of property like real estate, however, there are other types of assets you could use. Some examples of items you can use as collateral include personal credit, your car, stocks and bonds, jewelry, bank account and credit cards.
Talk to a company like Ron's Bonds Co. for more information.Share