If an individual is apprehended, he may be permitted to apply for bail. This is an amount of money that the arrested individual credits cash with the court to enable them get released from jail until their case is tried. The court asks for bail to ensure that the person will be available to appear once and when he or she is required and therefore acts as security. At times, the bail figure is too huge to be settled by the accused and in this case the court allows bailbonds grand rapids, which people can get by paying only a fraction of the total bail figure.
If you work with a bail bondsman, they will charge a premium in exchange for agreeing to pay the entire amount of the bond. This amount is determined as a percentage of the total bond amount. In most states, this percentage is set by regulations. For example, in California, bail bondsman must set the premium at 10 percent of the total bond amount.
A court hearing decides the bail amount. In certain cases, the hearing may also include an arrangement where the judge may hear the charges and demand the detainee to make a plea. The bail amount depends on how serious are the charges against the accused.
A lot of people may find the sum to be quite high and therefore out of their reach. The amount is set low enough to make its payment worthwhile to avoid spending more time in jail, yet large enough to get its refund attractive by attending all the dates as ordered by the court.
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.
What kinds of items can be presented as collateral? Again, it's up to the bond agent, but almost anything that has value can be used. The most common items used as collateral are: Property (such as a house), Car and Recreational Vehicles.
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.
If you work with a bail bondsman, they will charge a premium in exchange for agreeing to pay the entire amount of the bond. This amount is determined as a percentage of the total bond amount. In most states, this percentage is set by regulations. For example, in California, bail bondsman must set the premium at 10 percent of the total bond amount.
A court hearing decides the bail amount. In certain cases, the hearing may also include an arrangement where the judge may hear the charges and demand the detainee to make a plea. The bail amount depends on how serious are the charges against the accused.
A lot of people may find the sum to be quite high and therefore out of their reach. The amount is set low enough to make its payment worthwhile to avoid spending more time in jail, yet large enough to get its refund attractive by attending all the dates as ordered by the court.
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.
What kinds of items can be presented as collateral? Again, it's up to the bond agent, but almost anything that has value can be used. The most common items used as collateral are: Property (such as a house), Car and Recreational Vehicles.
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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