When you are a person who has been charged with a crime and is facing a bail you can't afford, a bail bond company can be used to secure your release from jail. You'll have to wait for your trial date, and your bail is set to make sure that you return to court for your trial. If you don't show up, the bail bond company will lose the money they put up for the bail bond. The collateral that is attached to the bail bond will be lost if you never show up in court, and you put yourself at risk for being put back in jail, without a chance for bail.
The Cost of a Bail Bond
You'll pay 5% or a little more for your bail bond, in order to get out of jail while you wait for your trial. This fee is never returned to you, and is the cost of doing business with a bail bondsman instead of coming up with the bail on your own. For most people, the 5% is all they have in cash to get out of jail and enjoy freedom, instead of being incarcerated.
Understanding Your Collateral
Collateral for a bail bond can be any combination of real estate, jewelry, electronics, cash and other assets that can be liquidated. Your friends or family can help if they choose to, putting up a piece of property for collateral. When you miss your court date, you risk all of the collateral that you put up for your bail bond. If someone puts their house up as collateral and you are never found again, the house is going to be sold, to cover your debt to the bail bond company.
If You Miss Court
When you miss court, your bail bondsman has the right to find you and bring you back to the authorities. You will be lucky if you get bail at all. If you do, it is going to be a higher amount than before. You'll have to pay the 5% fee again. Missing court never helps you and, at the very least, will cost you more money.
Cooperate with your bail bond company so that there aren't complications with your collateral or your freedom. Get to your court date, even if you fear being incarcerated. When you work with your bail bond company, you have a better chance of getting a second bail bond, if you ever need it.
