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A bail bond company assists defendants who have been arrested for criminal charges to get out of jail and they require them to pay only a small fee, which is often a percentage of the bail amount. This affords defendants temporary freedom as the court determines their case. Sometimes, defendants can afford a cash bail and full amount on their own.
At other times, the bail is set too high for them to afford, forcing them to seek help from bail bond companies where they can avail of a surety bail bond and bail bonds loans online. Others still look for bail bondsmen to bail them out even if they can afford to pay the cash bail amount in full. However, it is recommended that you seek a bail bondsman to help bail you out of jail because it is a financially sound decision. Here’s why hiring a bail bondsman can save you money.
You only pay a small fee
Hiring a bail bondsman saves you money. The typical bail bondsman only requires 10% of the bail amount as commission and they will post the full bail amount or arrange with the court how to get you out of jail. This means that if your bail is $100, 000, you’ll only pay $10, 000 to the bondsman as a premium if they charge a 10% fee.
This is much better than coming up with the full $100, 000 on such short notice. You can then channel the remaining amount into other costs, such as legal fees. This can also ensure you avoid the debt trap by all means, as some people take a loan to settle the bond and repay later at ridiculous interest rates.
You won’t liquidate your assets
Most people don’t have a bag of cash somewhere waiting to settle emergencies. Therefore, the first choice they have when arrested is to sell their assets to raise the bail money. Remember that selling your assets on such short notice may not be easy and you may be forced to sell your valuables at a throwaway price because you’re desperate to raise the bail money and secure your release.
However, you don’t have to do this if you can seek a bail bondsman to bail you out. Instead of rushing to sell the house you’ve taken so long to build, you can contact your bail bondsman and get help in no time.
Avoid financial scrutiny
No one likes to be invested. However, if you manage to come up with a huge cash amount on such short notice to pay your bail, you may be opening yourself up for investigations because they’d want to know whether the money was obtained through legitimate means. To avoid unnecessary scrutiny, you can call your bail bondsman to post the bond on your behalf.
You’ll learn more about the legal process
Dealing with an experienced bondsman means you’ll be informed of your legal position regarding the case and the different types of bail bonds you can access. This can help you learn about the court process and the case as well.
Now that you know why hiring a bail bondsman can save you money, you should never struggle to raise the bail amount on your own when you can call your bondsman to do it for you.