Before you seek out a bail bondsman to get a loved one or yourself out of jail, you must understand what your getting yourself into. How do bail bondsmen make money is a question that you’ve got to have the answer to before contacting one?
Below you’re going to find the answers that you are searching for, and we hope they will give you a better understanding of the bail bond process. Continue reading to find out more.
How Do Bail Bondsmen Make Money?
Simply put, bondsmen make their money from providing financial support to people that need to bail themselves or someone else out of jail. They do this by entering into an agreement with not just the detained person, but also the court system.
If you need a bondsman for an immigration case, there may be different guidelines, take a look for more information here.
When a person wants to bond out of jail or bond someone else out of jail, typically, the bail bonds office will require that the defendant pay 10% of their total bond amount. This 10% transaction is a nonrefundable fee.
Taking 10% may sound like a small amount to make, but it also depends on the bond amount that was set for the defendant by the judge. The bondsmen see profit as long as the defendant shows up to their future court hearings.
If the defendant skips town or does something that causes them to miss their hearing, the bondsmen will be liable with the court for the bond amount.
As we discussed earlier, if a defendant doesn’t show up for court, the bondsmen are held responsible. And for the risk that someone won’t show up for their hearing is why bondsmen at times will require a defendant to provide them with their assets.
By having these assets in their possession, if the defendant defaults on their agreement, the bondsmen will seize the assets as a means of paying off the owed debt. This means you forfeit all assets or money given to the bail bonds office.
What Is a Cash Only Bond?
A cash-only bond is when a defendant has to pay all of their bond amounts before they can get out of jail. This can be due to several reasons, such as arrest warrants in other areas or failing to pay previous fines.
Essentially a cash-only bond means that the court sees the defendant as a risk. The court understands that they may not be able to recoup monetary fines if the defendant is released.
Where To Post Cash Only Bonds?
Cash bonds differ from bail and can be paid in court during court business hours; if the defendant is outside of working hours, then they will need to post their bond through the jail. Posting bond through the jail can take up to 2 weeks to process before the defendant is released.
The defendant and the members posting the bond should ensure that the defendant will abide by the guidelines set forth by the court before providing assets as a means of bond payment. If there is doubt that the defendant won’t follow the rules, reconsider using your personal assets as a bond.
We hope that the information provided above gave you the information that you were looking for when answering how do bail bondsmen make money. It is crucial to understand the information we’ve provided you before bonding yourself or someone else out of jail.
If you need more information about related topics or further legal advice, contact us now via our website.