Posted on: 27 June 2019
Sometimes a person whom you care about is arrested and placed in custody to await bail. You want to help get that person out of jail, but you don't have the funds to do so. You don't have to offer your car or jewelry and other collateral in order to get that person out of jail. Make arrangements to obtain a bail bond for the individual now in jail. Depending upon which state in America that you live in, you may be able to take advantage of this helpful loan from a bail bonds company.
Obtaining A Bail Bond Loan Makes Sense
Obtaining a bail bonding company loan gives you the opportunity to only pay a portion of the stated loan amount. That puts you at less risk if the defendant breaks the agreement made with the court to not miss a court date or any other agreements that may be involved. If you pay the full amount of bail money and the defendant absconds and doesn't show up in court, you'll lose all the money you paid. The court does not return bond money in this scenario. On the other hand, the bond company only charges you a percentage of the bail amount and will then post bail for you. You do not run any risk at all of losing the entire bail amount if the defendant goes on the run.
About Collateral Goods And Risks For You
You have another option when you can't pay a bail bond in cash. The bail bond company will accept collateral goods in lieu of cash. Collateral goods include stocks and bonds, real estate, jewelry, or a car. There are other options the bonds company can discuss with you also. It's a big decision you make to help a friend or family member who needs bail, especially if that person has a family with children. Have a long talk with the person you are trying to help. There must be an understanding that while you are doing this act of kindness, there is a risk in the plan for you if he or she breaks the agreement. You have the right to have that person sign a personal agreement that allows you to recover losses caused if he or she disappears and thereby null and voids the agreement.
Do Not Help The Person To Hide Away
If the individual decides to go into hiding and contacts you for help, do not consider helping this person hide in your house or anywhere else. If you do that, you'll get into trouble for hiding a fugitive and will be punished as such by the justice system. Just don't harbor this person in any way if he or she calls on you for help while in hiding. Only encourage that individual to turn himself or herself in to law enforcement.