If a loved one is arrested and is unable to post the bail amount that is set to get them out of jail, a bail bond is a great alternative. However, there are a few tricky, but very important, facts about bail bonds that are not well known.
Bail Bonds Are Not Available in Every State
Bail bonds are restricted in Wisconsin, Nebraska, Illinois, Massachusetts, Maine, Oregon and Kentucky. So if you commit a crime in a state where bail bonds Allentown PA are restricted, then you will, unfortunately, be stuck paying the full bail amount or waiting in jail for your trial.
Bail Bonds Are Loans
It is important to remember that bail bonds are loans, and as such, do come with a fee. This fee is normally around 10% of the total bail amount. So if bail is set at $20,000, you will end up paying $2,000 to your bail bondsman. In many states, this fee is set by law, so if anyone offers a different rate, it should be a red flag.
You Need a Cosigner
When you sign a contract with a bail bond company, you also need a cosigner to guarantee that you will show up for your court date. If you do not show, the cosigner is held responsible and has to pay a penalty.
There is a Time Limit To Raise Bail Money
Once a judge sets the bail amount, the defendant has a certain amount of time to raise the money needed for bail. The time limit varies depending upon the situation and is determined on a case-by-case basis.
Bail bonds can be challenging to understand, but are very useful to those who have someone willing to vouch for them and a bit of cash to spare. Just remember- the right agency will help you get out of jail without breaking the bank.