When you are arrested and put in jail, you are often released on the conditions of bail. In order to get released, you do not have to post the entire bail amount. Instead, you are asked to post 10% of the bail bond fee in order to be released from jail, with or without the help of a bail bondsman.
The bail bond fee is supposed to be set at a reasonable amount; however, that doesn't mean that you actually have that amount of cash on hand. Considering that less than 39% of people in the United States could cover a $1,000 emergency, a bail bond amount as low as a $1,000 could be out of reach.
If you need to come up with money to cover the bail bond fee, there are a few ways that you can go about getting the money to cover that fee. The most common ways are to borrow money from family and friends, take out a loan, or look into charitable bail funds.
#1 Borrowing from Family & Friends
One of the first options that many people explore is borrowing money from family and friends to pay off the required 10% bail bond fee to get out of jail. This is a popular method as you can depend upon emotional appeals in order to get the money that you need. You can also crowd source your bail needs, borrowing money from a variety of friends.
However, keep in mind that borrowing money from family and friends often comes with strings, and your relationships may become strained if you are not able to pay these loans back.
#2 Take Out a Loan
One of the best ways to deal with a bail bond fee is to take out a loan. Taking out a loan allows you to get the money you need without putting your personal relationships and connections on the line.
There are companies that specifically specialize in offering bail bond loans. You don't need to have perfect credit for these types of loans like you do when looking at a home loan or an auto loan. Generally, they just want you to have some type of collateral or commit to automatic withdraws from your checking account to pay back the loan.
#3 Charitable Bail Funds
In some states, you may be able to access a charitable bail fund A charitable bail fund are offered through organizations that help people pay bail fees. There are generally very specific circumstances that you have to meet in order to qualify for a charitable bail fund. There is often a high demand for these types of funds, so there can be a waiting list. However, you don't know if you'll qualify if you don't try.
If you end up in jail, and you need help paying the 10% bail bond fee, you can borrow the money from family and friends, take out a loan, or see if a charitable bail fund organization can assist you with your bail.