3 Important Things to Know Before You Get a Bail Bond

When a friend or loved one has been arrested, time is of the essence, and it is important to keep a clear head so that you can act quickly on their behalf. If you are considering procuring a bail bond, keep these important things in mind as you search for the best company.

Related image

What is the Typical Cost of a Bond?

Generally speaking, a bail bond should cost you about 10% of the amount of bail, but this can vary by state. When you pay this percentage, a bail bondsman writes an agreement that ensures that your loved one will show up at their trial. If they do not, your money and any collateral that you have put up is at risk. 

What Can be Used as Collateral?

Many different things can be used as collateral, but typically, you are required to use an item of significant value. Meaningful and pricey assets, such as vehicles, homes, stocks, or jewelry are good examples of what you may have to put down. When you use a high-value asset as collateral to secure your bail bonds Scranton PA, odds are that you will be more inclined to ensure that your friend does not skip bail. If you friend breaks any other laws or misses court dates while out on bail, your bail bond company can require you to temporarily surrender your collateral.

Will You Get Your Money Back?

The short answer to this question is “no.” The down payment you made is considered a payment for the bondsman’s services. However, as long as your loved one behaves well on bail, you should have no problem keeping the collateral that you have used.

It is important that you understand how bail and bonds work before you procure one. As long as you enter into the deal with a little bit of knowledge, you will have no problem securing a bond.