Is a friend or family member in jail and needs your help getting out of jail early? If so, they may need your assistance with getting them the cash they need to post bail. Here are some things you need to know about helping them out.
What Is Bail?
The bond is the amount of money that needs to be paid in order to get released from jail prior to a court date. A judge sets the amount for how much bail will cost, which is based on an individual's unique circumstances. This includes the crime they are being accused of, their previous criminal history, if they are a flight risk, and if they are a danger to the community. The bail money acts as a way for the court to ensure that the released person will return for their court date since that bail money can be lost if they skip town and don't show up.
What Is A Bail Bond?
If you do not have the cash on hand to pay for the amount that the court set for bail, you have the option to use a bail bond. Getting a bail bond is like a loan since you are getting money that you do not have and paying a premium to borrow that money. Bail bonds work differently than personal loans, though, since you only pay the premium one time rather than continuously pay interest on the loan until it is repaid.
However, bail bonds can be secured or unsecured. An unsecured bail bond is typically issued if the agent doesn't feel like the arrested person is a flight risk and will return for their court date. If the agent has doubts, they can require that you secure the bail bond. This can be done by using property, such as a vehicle's title, or even providing jewelry or other high-value assets that have an identifiable dollar value. If the person does not return to court, these items can be kept by the agent as collateral.
When Is The Bail Bond Process Complete?
A bail bond will help a person get an early release from jail, but the bail money is not released until the person is sentenced and taken into custody or acquitted of the crime they are being accused of. The court will then release the money back to the bail bond agent, and you will get any surrendered collateral back.