When a person gets arrested, the bail is set as a conditional release of the accused person, who must appear in court when required. The bail serves as a guarantee that the defendant will appear in court.
However, the bail amount can sometimes be a great financial burden for the defendant or their family, and many people cannot actually afford to instantly pay the full amount. This is where bail bonds come in.
What Are Bail Bonds?
Bail bonds are a type of surety bonds posted by a bail bondsman to immediately release a defendant from custody after they are booked and the judge has set the court date. No matter the type of case, the defendant can go back home, but they must guarantee that they will appear in court on the set date.
They must provide collateral as a surety for the bail bond company that posted the bail, that is, a guarantee that the bail bondsman will receive their payment. The collateral can be a house, a car, jewelry, stocks, or any other valuable item.
How Do Bail Bonds Work?
If you happen to be arrested, all you need to do to post a bail bond is to give a particular bail bondsman a call once you’re booked. Bail bondsmen are ready to come to your aid 24/7, so it doesn’t matter when you contact them.
You don’t need to pay your full bail amount upfront, but only a certain percentage. Bail bond companies usually require 10% of bail amount as a down payment, but some of them require only 5%.
To secure the bail bond, your bail bondsman will ask for collateral to make sure that you will pay the full bail amount once you’re back home, either in installments or as a lump payment. There are even some bail bond companies that require only a signature as collateral, which is definitely something to consider if you ever find yourself or your loved ones incarcerated.
Getting arrested is stressful enough without having to think about all the court fees, fines and other expenses that go with it. So, if you or anyone close to you ever gets arrested, you should definitely find a reliable bail bondsman who provides bail bonds 24/7. It’s the smartest step you could take to get yourself or someone you know back home safely, without burning a hole in your wallet.