A bail bond is an amount of money a defendant must pay for release from jail. The courts will hold the bail amount until the defendant makes an appearance in court for his or her alleged crime. The purpose of a bail is to ensure that the defendant does not leave town and miss his or her appearance.
The judge sets the bail amount according to the nature of the crime and the defendant’s history with keeping appearances. The bail amount may be small or extremely large depending on these circumstances. Friends and family members can opt to seek assistance from a bail bonds company to receive a loan for a majority of the funds.
What Information do I Need for a Bail Bond?
Anyone wishing to receive help from a bail bond company will have to gather some information to submit. First, the individual will have to have identification documents. The bail bond company will want to know to whom they are extending such a kind service. A driver license and social security card are acceptable identity documents. The bond company will most likely run the applicant’s credit, so he or she will have to furnish a social security number anyway.
Next, the individual will have to provide the bond company with information about the defendant. The applicant needs to know that person’s full name, the bail amount and the location of the jail. Details about the crime will help assist the bond company in the decision making process. If that person also knows about the defendant’s criminal history, he or she should furnish the information. Providing the bond company with as much information as possible can help to speed up the approval process. In some cases, the bail bond company can have a defendant released from custody within several hours.
The Next Step
After the applicant supplies the bondsman with the necessary information, he will make a decision on whether he can help. He will also set the terms of the agreement if he chooses to approve the client. First, the client will have to pay a service fee of at least ten percent of the total bail amount. The fee covers fuel expenses and the time the bondsman puts into having the defendant released from custody.
Next, if the applicant has a negative credit history, the bondsman may ask her or him to secure the loan. The individual may have to offer his or her car, home, business, stocks or bonds as collateral for the bail bond loan. Bail bonds companies invest large amounts of money in their clients. In some cases, a bondsman will feel that some extra insurance is necessary for his peace of mind.
As long as the defendant makes his or her required appearance in court, the bond company will release the lien on the applicant’s property. This will usually happen within 30 days of the court appearance. However, if the defendant does not appear in court, the applicant could lose his or he assets.