When a defendant gets arrested, they will have a court date set. If they fail to show up, their bail will be forfeited.
Bail bond companies make their money by collecting non-refundable fees and collateral from friends or relatives of the accused. They also hire recovery agents and bounty hunters who will try to track down the fugitive.
It’s Like a Loan
Like any loan, a bail bond requires signing paperwork and offering collateral. This paperwork typically includes an application, bail agreement, and contract of indemnity. Generally, the agreement and contract cover responsibilities, check-in requirements, and the impact of failing to attend court.
Friends or family members often seek bail bonds to help their loved one avoid jail time. However, they might need more cash on hand to pay the total amount of the bond. If this is the case, they can offer a bail bond agent collateral like a house, car, or even jewelry to pay for the bail bond.
In return, the bail bond company will charge a fee for its services. This fee is similar to a lender’s interest rates, though it’s usually much lower than what you might find in a personal loan. The bond company will also remind the accused of their court dates to keep them from skipping out on their obligations and getting into more trouble.
It’s Fast
When you contact a bail bond company Allentown PA, they are available twenty-four hours daily to help with your needs. They can call the jail for you to find out the most up-to-date information and also verify if there are any additional holds or warrants that need to be cleared up before posting your loved one’s bond.
A good bail bond agent will do a thorough background check of your loved one and ensure they can be trusted to pay the premium and attend all scheduled court dates. They will explain to the indemnitor their responsibilities and terms of the bond and discuss any collateral that may need to be pledged.
If the defendant does not show up to their court dates, the bail bondsman will be responsible for paying the court the bail amount. This could include forfeiting any collateral pledged, which is why it’s important to always stick to the bond conditions.
It’s Affordable
When someone is arrested, the court will set a sum for bail that they must pay to secure their release. This is a way to ensure that they show up for all their court hearings, but it can be expensive. This is where a bail bond agent can step in to help.
Bail bond companies work with friends and family to ensure they can post a bail bond for the accused person. They charge a fee or premium and may require collateral to guarantee the bail amount. This can include anything from valuable property to stocks.
This type of business can be lucrative but carries much responsibility and trust. This is why many bonding companies offer additional services, such as process serving and private investigations. They often employ recovery agents (bounty hunters) with significant powers when tracking fugitives. They also have to abide by all state and local rules.
It’s Easy
A bail bond agent will start by collecting information about you or your loved one. They must know where you work, your credit history, references, and more. They will then charge a non-refundable fee (typically around 10% of the final bond amount).
Then, they will secure collateral from you or your loved one. This could be a house, car, or other item of value. They must also sign a contract stating that you or your loved one will not skip out on any court dates. They will have to check in with them before every court date, and they will be liable for the entire bail amount if they miss their court date.
They will not consider you a flight risk and will try to ensure you or your loved ones attend their court dates. If they don’t, the bail bond company will take the collateral they signed to the courts.
