Finding The Right Lender

Things To Know Before You Get A Bail Bond

If you or a loved one have been arrested, then you are probably in a hurry to get a bail bond. However, there are some things that you should know before you go out and start shopping. Here are some tips that can ease your mind and make the process simpler:

Legality by State

First, you should check to make sure that your state allows bail bonds and to see what laws are in place to protect you. Some states don't allow commercial bail bondsmen to operate at all, while others have strict limits on how high interest rates and fees can be.

The main reason that this is important is that it can help you weed out the legitimate bondsmen from the illegitimate. If you find a deal that seems too good to be true, make sure that all of the applicable laws are being followed.

Plan Ahead

You should also make sure that you have the contact information of a bail bondsman far in advance. Having that contact information ready can mean the difference between waiting a couple hours to get out of jail and spending the night. If you take too long to contact a bondsman, then you might be stuck in a long waiting list, which can prevent you from getting home and spending time with your family. Being unable to work and live your life in freedom can take an immense mental toll on you, especially if you are innocent of the accused crime.

Ask About Collateral

You should also know that most bondsmen will accept many types of payment. Before you go out and pawn your belongings to pay your bondsman, check to see if the bondsman accepts collateral as a payment type. This will greatly simplify your payment schedule and will reduce the number of businesses to which you owe money. On top of that, the rates at a bondsman will likely be lower than the rate at a pawn shop. Remember that you will forfeit the rights to your collateral if you fail to show up to your trial, just like you would forfeit your fees if you had paid in cash.

Even if you aren't interested in using collateral for your bail bond, you can set up other payment types, such as installments. If you don't have all of the money ready today, but will have it in the near future, then spreading the fees over several weeks or months can definitely lighten the burden on your wallet and mind.