Three Things You Should Understand When You Are Asked To Post Bail For A Loved One
If you have a loved one that has been arrested, after they enter a plea of not guilty, the next step will be the bail amount. Once the amount is determined, your loved one may ask you to bail them out of jail. If you have never done this before, you should understand the following things.
You may be able to post bail
Bail is an amount of money that the judge will determine based upon a number of factors, but ultimately, the amount will be what a judge determines is likely enough that the man or woman charged with the crime will show up for their court dates. The more likely a suspect is to be a no-show, the higher the amount of bail. Of course, if the crime is serious enough, bail will be denied, and the suspect will have to await the court date in jail. If you decide to post bail, this will be a cash amount that the court will keep until the trial is over.
You may be able to post a bond
A bond is an alternative to bail when the bail is too high. Posting a bond is done through a bail bondsman. It is the bail bondsman who posts it to the courts. For smaller amounts, money may come from the bondsman's own account, but for larger amounts, the bondsman will work with an insurance company. You will pay a small percentage to the bail bondsman with enough collateral to cover the amount of the bond. When your loved one makes all court appearances and the legal proceedings are over, the bond is returned to the bondsman. The amount you pay to the bondsman is kept as a fee.
You should be aware there is a chance of losing your collateral
It may be an emotional moment when a loved one calls and wants you to get him or her out of jail, but you should stop and think about what you're about to do. If this person does not show up in court, the bondsman will take your collateral. No matter how much you love them, There may be reasons that they do not show up in court. For example, a substance abuse problem can lead to a no-show in court. A warrant may be issued for his or her arrest, but before they can be found, you lose your asset.
If you are asked to bail a loved one out of jail and this is your first experience doing something like this, you should understand that you may be able to post a cash bail. If not, you could pay a bail bondsman a small percentage to post a bond. You will need sufficient collateral, and it is possible you could lose this asset if your loved one does not appear in court.
For more information on bail bonds, contact a professional near you.