If your loved one has been arrested and needs to get out of jail quickly, a bail bond can help. A bail agent charges a premium fee and requires collateral for a bond.
Collateral is something of significant value that the defendant or their indemnitor (cosigner) pledges to secure the bail bond agreement. It can be physical property like a car, jewelry, or even real estate. It can also be financial property like a bank account or surety bonds.
The collateral ensures that the defendant complies with all contractual and court obligations. If the defendant skips bail or violates their conditions of release, the bail bond company will liquidate the collateral that was legally fronted. Any deficiencies resulting from the sale of the collateral will be the responsibility of the indemnitor/cosigner.
The simplest type of collateral is a movable property, like a paycheck or utility bill, showing the accused’s name and address. However, some bondsmen will require a deed of trust on real estate or the pink slip for a vehicle as collateral. This is because real estate is generally the most valuable type of collateral.
If you or a loved one is arrested, your first thought may be how to help them escape jail. Rather than going through the hassle of trying to secure a bank loan or even coming up with the full amount of bail themselves, you can work with a licensed bail bonds Schuylkill County PA company for various payment options. These payments can be spread out over several months to make it easier for everyone involved.
Usually, the indemnitor—a family member or friend of the defendant—will pay a premium to a bail bond agent in addition to co-signing an agreement with that person promising to comply with all conditions of release, including appearing at all scheduled court dates and not violating any subsequent laws or Orders of Protection. In return, the bail bond company will pledge collateral to guarantee that the defendant will attend all court appearances and not forfeit the money posted as bail.
Appearances in Court
Most courts require a person accused of a crime to make bail to be released from jail before their court date. The accused can pay the full bail directly to the court or obtain a bond from a professional bail agent.
The bail company takes a considerable financial risk by guaranteeing that the defendant will appear in court on all of their required appearance dates. This is known as a surety bond. The bond company typically requires a cosigner who promises to repay the full bond amount to the company should the defendant fail to show up for their court dates.
Friends and family who can’t come up with the whole bail amount often work with a bail bond company to help their loved ones get out of jail as quickly as possible. A jail is not the most comfortable or safe place to wait for a trial, so getting someone home quickly is the best option.
Getting out of jail quickly is your only concern if you or a loved one is arrested. Bail bond services make this process much quicker than trying to work through the courts on your own. But you still have to meet some conditions to get out on bail. You must cooperate with your cosigner and the bail bond company. This means answering questions truthfully and appearing at all of your court dates. If you lie, you can be re-arrested and returned to jail.
Some states require that you agree to substance abuse counseling and not possess firearms or other restrictions. Your bondsman will help you understand these requirements before you agree to post a bond. If you violate these terms, the police will take you back to jail, and you may lose any collateral signed over to the bail bond company.