When a family member or a friend gets into a mess, it is good to have knowledge about bail bonds. Especially if the person caught by the police would depend a lot on you, this system will help you in giving them the opportunity to escape spending a night or even days in jail. Yet before embarking on being a co-signor, there are very important reminders that you should be aware about.
bonds companies can charge a hefty interest rate of 15 per cent. So if the bail is set at $10,000, the bond would be at least $1,500. It is very steep and will not be refunded anymore. This amount can be paid either in cash or thru credit card. In some cases, when the amount is too big, then a collateral will also be asked.
Your job as a co-signor is to make sure that the person you vouched for will be showing up on the set court date. Otherwise, you will be liable for the amount he was bailed for. In case there is a legitimate reason for the accused not to show up, the court date should be moved by a legal counsel or a bail bondsman. There will be corresponding fees for doing too.
Being bailed by a bondsman is a serious matter that needs to be thought over. Not only is the fee steep, but you are at risk of being obligated to pay the full amount in case the accused jumps bail. These companies have their own bounty hunters to search for you and the accused in case you both fail to pay for the fee and the bail amount. Bonds companies are dependable especially in helping people to stay out of prison by lending the bail amount.
Tags: bail bonds guarantorThis entry was posted on Thursday, May 26th, 2011 at 11:45 am and is filed under Bail Bonds Information. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.
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