Life happens. And when it does, you might find yourself in the slammer.
If you’re arrested and tossed in jail, your first basic need is to get out. But getting out of jail costs money – usually several thousand dollars for minor offenses. Most of us don’t have the disposable cash needed to buy back our freedom, which means we have to rely on a bail bondsman. Let’s look at how borrowing from a bond agent works so that you can find a good one – should you ever need it.
How It Works
Once you’re arrested, a judge will decide whether you can be released from jail, and will set a figure for your bail. Bail is the payment required to get you out of jail and back to your life before you stand trial for your crime. The amount of the bail is based on your offense. If you pay the court yourself, you will be reimbursed after you complete your trial and make all necessary court appearances.
But, especially if the posting is high, you’ll probably need an agent to pay the sum for you. How does this process work? Well, you can think of your bail bondsman as an insurance company. He or she sells you a policy – the amount of your bail – at a premium cost to you. This premium will be a percentage of the bail cost. If your bail is posted at $10,000 and your agent charges a 10 percent premium, you’ll owe the bondsman $1,000 on top of the cost of the bond. When you make this agreement with a bondsman, he or she will often ask that a third party indemnify the policy. This may require you to put up collateral for the bond – in some cases, you may have to sign away your car, house, or other property as collateral while you pay back the bond.
How Do I Find the Right Bondsman?
Most bail agents are professional and know their jobs like the back of their hands. They are licensed insurance agents, and their jobs are closely overseen by the Department of Insurance. This means that they go about the process of lending you money in a very cut-and-dry fashion.
That said, inevitably there are some hucksters who will try to squeeze unfair amounts of money out of you. Make sure your bail bondsman has all the needed credentials. Use your state’s Department of Insurance website to check if your agent has a bail license. Look the agent up online to see if they have a rating from the Better Business Bureau, and if they’re endorsed by a trusted agency. Comb through customer reviews, and seek out agents who are recommended by friends or family.
The circumstances that brought you to jail, and the stress of being stuck there, can be overwhelming. Make sure you find a bail bondsmen who will treat you fairly and help you back into the free world with minimal financial strain.