When a person is arrested and goes to jail, something that you can use to get them out of jail while they wait for their trial would be bail bonds. Because of these bail bonds, the person will have to appear in court. This obligation allows the accused to get out of jail and agree to an appearance in court at a later date. Instead of money being given to the court, this legal paper would be the replacement. Once the court has the legal papers, the accused is released and would be waiting for their court case.
When getting this bail, there are fees involved. There are different costs per state because of the different laws they also have. The amount set by the court in order to release the accused would be the basis for these fees charged ranging from around 8% to 15% or more. These licensed agents are being monitored by the state when it comes to the fees they are charging. The regulations would state that fees should not be too much, unfair, discriminating, or not enough. There are a few states that won’t have a set allowable premium chargeable. There are states that don’t have private agents.
Licensing agents can accept collaterals as well if you don’t have the cash necessary. Depending on the office, the acceptable collateral could be varying. Acceptable collaterals will differ depending on the standards of each office. Bank accounts, real estate, cars, jewelry, and stocks are what collaterals will typically constitute. Credit cards and personal credit are also some other collateral that can be accepted.
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You might lose your collateral if you miss a court appearance. There are options for a state in order to fix the situation. The licensed agent will be informed when a person would miss a court appearance and the legal paper would be on a default. Bench warrants are usually issued for the person’s arrest. In order for the default to be lifted, the person would be given a grace period to give him enough time to turn themselves in.
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Paying a premium for bail bonds means that you wouldn’t get the money back. The fee would belong the agent since it is what got the person out of jail. The premium is not refundable. The agents get the fees once they do their services. They would manage the accused people and ensure that court appearances would be honored.
When you have the information about how bail bonds work, you can understand what is at risk. When you get a person out of jail, it is vital to know how bail bonds work.