22 Apr Weighing Pros And Cons Of Cash Vs. Bail Bonds
When a person is granted bail, they have two ways of paying for it: a cash bond or a bail bond. Here, we weigh both concepts:
Cash Bond
● Pay whole bail amount up-front; entire amount must be paid before defendant can be released.
● There is no third party to deal with.
● There is less paperwork to take care of this way.
● Bail is 100% refundable, as long as defendant complies with release terms and goes to court.The refund comes in check form but often takes a few months to get back.
● If the defendant does not show up in court, you lose your money, and perhaps your relationship and trust with the defendant from there on out.The defendant will be taken back into custody.
Bail Bond
● Pay only 10% of the full bail amount to the bail bond company (third party), but it is not refundable.
● The 10% is paid over a payment plan that extends beyond the time of the defendant’s release.
● Cash, credit, debit, and checks are acceptable forms of payment.
● Requires collateral and a co-signer who can vouch for the defendant and make sure they meet court dates.If the defendant skips court, the defendant will be taken back into custody, collateral may be taken, and the full bail price may need to be paid by the co-signer.
● Co-signer may take their name off the bail bond at any time they wish if they lose trust in the defendant.
● A professional bail agent will be with you through the whole process so you know exactly what is happening.
Deciding between the two really comes down to what you can afford. Obviously, you want to get your loved one out as soon as possible, but at the same time, you need to have the money. Bail bonds are not reserved solely for those in the lower income bracket; bail bonds are available to anyone (even filthy rich celebrities use bail bonds). Simi Valley Bail Bond Store will help anyone who needs a bail bond and they will work with you to customize the payment plan so it is as comfortable for you as possible.