Few things are more shocking than getting a phone call in the middle of the night letting you know that a family member has been arrested and needs your help to get out of jail. No one plans on having to help someone with bail, and this is especially true when it comes to financial matters. Depending on the reason for the arrest, bailbonds grand rapids can be expensive and require a significant amount of money up front.
Usually, this amount is ten percent, and the balance of the amount is paid by a bail bonding agency. The courts will refund this amount, provided the accused continues to be present in court on all dates demanded by it. In those cases, the entire amount is retained by the agency providing the bail for the accused, meaning that the initial amount paid by the accused is pocketed by the agency, and that is how the agency makes a profit.
Surety is a type of insurance that the courts allow to take the place of actual cash. The definition of SURETY is someone who assumes liability for someone else regarding the performance of an undertaking, for instance, there coming to court or the payment of debt. A surety can be posted in states that accept Surety Bonds.
Certain providers of professional bail bond services will accept collateral instead of monetary payment to cover the cost of a bail bond premium. Also, a judge might also allow the court to accept collateral instead of money to cover bail if you are working directly with the court system to arrange for bail.
On bigger bond amounts (usually $5,000 and up) collateral is required. Collateral can be in the form of cash, vehicle title, home deed, 401k, or any other type of valuable asset. The collateral is held onto by the surety company, and a lean may be filed on mortgages.
In most parts of the US, bail bonds can be procured 24X7. When someone gets released on furnishing a bond of the required amount, they can be expected to take better care of their family, and also prepare better for the forthcoming court dates. Moreover, bail bonds prove helpful in reducing the number of people in jails, and thus the expense of maintaining jails and feeding the prisoners.
There are also privately owned bail bonding agencies that issue bail bonds. The fee charged by such agencies is nonrefundable. It is usual for bonding agencies to ask for collateral from the accused to ensure that the accused keeps appearing in court on all the dates fixed for hearing by the court. Collateral ensures the agency of getting its money back.
Using collateral to cover the costs of a bail bond can be extremely beneficial if you need help and can't afford to pay a premium. However, the consequences can be severe if the person you are helping out breaks the bond agreement.
Usually, this amount is ten percent, and the balance of the amount is paid by a bail bonding agency. The courts will refund this amount, provided the accused continues to be present in court on all dates demanded by it. In those cases, the entire amount is retained by the agency providing the bail for the accused, meaning that the initial amount paid by the accused is pocketed by the agency, and that is how the agency makes a profit.
Surety is a type of insurance that the courts allow to take the place of actual cash. The definition of SURETY is someone who assumes liability for someone else regarding the performance of an undertaking, for instance, there coming to court or the payment of debt. A surety can be posted in states that accept Surety Bonds.
Certain providers of professional bail bond services will accept collateral instead of monetary payment to cover the cost of a bail bond premium. Also, a judge might also allow the court to accept collateral instead of money to cover bail if you are working directly with the court system to arrange for bail.
On bigger bond amounts (usually $5,000 and up) collateral is required. Collateral can be in the form of cash, vehicle title, home deed, 401k, or any other type of valuable asset. The collateral is held onto by the surety company, and a lean may be filed on mortgages.
In most parts of the US, bail bonds can be procured 24X7. When someone gets released on furnishing a bond of the required amount, they can be expected to take better care of their family, and also prepare better for the forthcoming court dates. Moreover, bail bonds prove helpful in reducing the number of people in jails, and thus the expense of maintaining jails and feeding the prisoners.
There are also privately owned bail bonding agencies that issue bail bonds. The fee charged by such agencies is nonrefundable. It is usual for bonding agencies to ask for collateral from the accused to ensure that the accused keeps appearing in court on all the dates fixed for hearing by the court. Collateral ensures the agency of getting its money back.
Using collateral to cover the costs of a bail bond can be extremely beneficial if you need help and can't afford to pay a premium. However, the consequences can be severe if the person you are helping out breaks the bond agreement.
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You can find a list of the reasons why you should take out bailbonds Grand Rapids companies offer at http://www.bigbrotherbonds.com/about-us.html right now.
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