Essential Features That You Should Ponder over When Obtaining Bail Bond
You will need to opt for bail bond when you find yourself in a situation that you are arrested, but you aren’t in a position to pay the full bond. As the defendant you will be released for the court will have surety bond that you will be showing up for your trials. In the case, that you fail to show up for your trial the company that bonded you will get to meet the full bond amount, and it will be paid to the court. Depending on the location you are arrested in the bonds will vary. Following are critical factors to understand about bail bonds read more here.
When you enter into a contract with a bail bond company what you agree to pay them it is a must you meet your end. Failure to pay will result to the company suing you in civil court. When the case is over, consider it a civil affair. In this situation, if your bail bond contract was including collateral, means there is involvement of assets. Note that the company will be claiming your assets when you fail to comply to the payment of the amount you are to pay to them. If there is a surplus after the company sells the property to offset the payment they will pay it back. The company will end up taking you to court if you fail to pay the amount needed to pay and you didn’t secure your situation with collateral.
10% will be at most the charge the bondsman will charge taking into consideration the bond they paid for you when the case is complete. On the other hand, if you had collateral it would be returned. The bondsman will not return the money that is how they make their money to meet their bills that is even if the cases happens to be dropped. It is of essential to note that the bondsman can be in a position to revoke the bond. When you might fail to show up in the court, and the company has evidence in such a situation they can revoke the bond. The company will not waste time to protect their interest that means they will turn you in.
The cost of the bail bonds is one of the things people tend to worry about so much and ask now and then. Note that the amount of the bond will be governed by with the place you are. 8-10% is where the cost of the bail bond ranges of the amount the court sets. That means if you are having a bail bond of $50,000 your case you will be most likely asked to pay $5,000. No discounts or reduced bail bonds if the firm bailing you asks for collateral.