3 Financial Benefits to Bail Bonds
Tuesday, June 28, 2016, 6:00 PM | Leave Comment
If you have been taken into custody by the police and sent to jail, it may be possible to bail yourself out. Bail is a fee paid to the jurisdiction where you have been taken into custody that says you will come back and answer for your crimes.
However, if you can’t afford your bail, a bail bondsmen may be able to help you.
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Bail Bonds Can be Had for 15 Percent of Your Bail
Let’s say that a judge has allowed you to leave jail as long as you pay $10,000 in bail. If you can’t pay that amount, you will have to stay in jail for months or years as your case is being heard.
To come up with that money, you could sell your car, refinance your mortgage or hope that a friend or family member has enough to loan you.
Another option is to pay a bail bonds company such as All Star Bonds to secure your release from jail, which may help you afford your bail without compromising your financial future.
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Not Paying Bail Could be More Expensive Long-Term
Not paying your $10,000 bail and remaining in jail through the end of your case may seem like the more economical option at first.
However, if you have a house, you may not be able to pay your mortgage because you can’t work. That will ruin your credit and mean that you pay more for loans in the future.
You may also be responsible for legal fees to fight a foreclosure or to fight legal action from other creditors as you won’t be able to pay your other bills.
Even if you are convicted of your charges, being out on bail gives you time to get your affairs in order first.
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Get a Bail Bond at Any Time
If you were taken into custody over the weekend, your only options to get a loan may include asking for a credit card advance or a payday loan.
Instead of taking out loans that have high interest rates, you can ask for a bail bond without incurring extra fees. This may be especially beneficial for those who have bad credit or no credit and couldn’t otherwise make bail.
Anyone who wants to get out of jail quickly should seriously look into getting a bail bond. While you won’t get your money back in most cases, it can ultimately be less expensive than paying bail yourself or trying to get friends or family members to help you out.
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