When a loved one needs you to bail them out of jail, it can feel overwhelming if you don’t know what to expect. Between bail, bonds and collateral, it’s crucial to understand how they work in this type of situation. Here are three facts about bail and bail bonds to help you figure out how to proceed if you face this decision.
- Bail Bonds Save You From Paying a Large Amount of Money
When someone gets arrested, a fee may be required to get them out of jail. This fine exists as a way to get people to come back for their court hearings. You have the choice of paying these fees in their entirety or with affordable bail bonds Williamsport PA. When the amount of money is more cash than you have access to, a bail bond is a good option for you. Bonds require that you put up collateral equal to the bail amount, and you only have to pay 10 percent of the fee. This is an excellent opportunity because bail can sometimes be hundreds of thousands of dollars, which most people don’t have.
- Your Money Is At Risk With Both Bail and Bond
Once you pay the bail, your loved one must return to court for all of their hearings. If they miss any of their appointments, you are responsible for the bail amount and can lose any collateral you have put up for their release.
- You May Get Money Back at the End of the Case
Fortunately, most people show up to court for their meetings and follow through with their court appearance obligations. Once a case is closed, regardless of whether they are found guilty or not, your money or collateral is returned to you. However, the 10 percent fee remains with the bail bond company. If you paid the full bail amount, that entire fee, minus any costs, gets refunded to you.