Posted on: 7 June 2021
If your finances have any comparison to the average person, it would likely be the fact that your access to money is not unlimited. Therefore, when a loved one reaches out for help with bail, you might wonder if you can even afford to help. Turns out, in many instances, you can. Bail bonds can be tailored to fit your budget; learn how.
Full Payment is Rarely Required
When a judge sets a defendant's bail to a very large amount, such as $100k, it is easy to assume that for the individual to be released, the entire amount must be presented. Understand that the court system does not typically operate this way and that only a portion of the total, such as 10%, is required upfront. A bail bond professional can work with you to help cover the required portion.
Payment Over Time is an Option
If you do not have the money upfront to cover the required portion of the bail amount, many of these services also offer a payment plan option. With this option, you and the bond professional will set up a payment agreement that stretches out the payment over a fair and appropriate amount of time so that you do not have to come up with a large amount at once.
Credit and Trustworthiness Help
Similar to traditional lending practices, if you have good credit, a solid work history, and are otherwise trustworthy, there are several things that a bond agency can do to help make the bail process more manageable for you. In fact, in terms of the payment option, the better your marks are in these areas, the more payment options you have available, and maybe even more by the time you have to pay.
Joint Applications are Available
If you are unable to afford your loved one's bail on your own, the bond agency may allow you to add another party to the application so that you can both help cover the cost. In cases of higher bail, this option makes it easier to fit the amount into your budget. Keep in mind; even if the agency does not accommodate joint applications, other family members can also make payments on your behalf.
If you plan to help someone with their release from jail, the most important thing for you to do is to be upfront with the bond professional. Thet will assess your situation to help you determine which options best match your situation.Share