Did you know that the average bail bond amount is $10,000? If you or someone you love has recently found themselves in a legal situation where they are in need of a bail bond, you might be wondering, “What are bail bonds?”
If so, we are here to help you out with our short guide sharing not only what they are but how they are determined, and how they work.
Interested in learning more? Then keep reading to learn the ins and outs of bail bonds.
What Are Bail Bonds?
A bail is an agreement between the court system and the defendant where the defendant agrees to pay the amount of money the court states. This amount paid is in exchange to get out of jail and promise the court that the defendant will return for their scheduled court date.
How Is Bail Determined?
Once someone is arrested and the jail records the defendant’s information a hearing is scheduled. Usually, the hearing occurs within 48 hours after the arrest. At this hearing, the judge will decide whether or not the defendant can have bail and if they decide to allow it they will set the amount they deem appropriate.For this reason, they might ask for some type of collateral. In some cases, they might require a friend or a relative to give the collateral because since their property is on the line it is less likely that the defendant will not show up to court.
How Do Bail Bonds Work?
A bail bond is similar to a personal loan where a bail bonds company such as Kissimmee.bail2go.com will ask you to put a small percentage of the total amount. Once the percentage is paid then they give you the rest of the money to pay the bail amount that the court set.
Once the trial is over then the court will give the bail bond money back to the defendant who will then have to return the money back to the bail bond company.
Keep in mind that setting bail is a financial risk for the company because if the defendant does not show up to court, then they can lose all of their money.
For this reason, they might ask for some type of collateral. In some cases, they might require a friend or a relative to give the collateral because since their property is on the line it is less likely that the defendant will not show up to court.
Some companies will go the extra mile and always call before each court date as a reminder. Or, sometimes they will require the defendant to check in on certain dates to ensure that you have not fled the country.
Feeling Like a Bail Bond Pro?
Now that you know what are bail bonds and how do you get bail, we hope you are able to navigate whatever situation you or your friend or relative are facing. Although this might seem confusing or overwhelming, a bail bondsman in your area can also answer additional questions you might have.
If our article came in handy, please keep browsing the rest of our legal section for some of our latest.