If you've recently been asked to help someone with their early release from jail by paying for their bond, you may be struggling with what you should do. You can let them sit in jail until their court date and not help them out, or you can go through with paying for their bond. If you decide to move forward with paying their bond, you may need to resort to using a bondsman to purchase a bail bond, which can bring several risks with it. Here are some mistakes that may be made when you purchase a bail bond.
Thinking You'll Get The Premium Back
Part of using a bail bond will require paying a premium to the bondsman, which is based on a percentage of the bail money that is owed. When you think of a bail bond as a short term loan, that premium is essentially the interest that is paid to get the money that you need. Don't make the mistake of assuming that your friend or family member will pay back the premium that you end up paying, since it may put unnecessary stress on the relationship. Consider that money gone, and only be prepared to pay for a bail bond if you are comfortable with the premium being charged.
Not Following Up With The Court Date
The person out on bail has terms that they need to follow for their release, which include returning to court on the date of their hearing. If they do not show up, they will lose the bail money that has been paid for their early release. You'll want to follow up with the person that you are helping to make sure that they follow the terms of their release and show up to court. Go as far as driving the person to court that day to make sure that they go. If you assume that the person will do what they are told, you could end up losing your collateral.
Using Collateral You're Not Prepared To Lose
If the person violates the terms of the bail, the bondsman will take the collateral that you gave them as part of the bail bond process. That's why you want to use something that you are prepared to potentially lose. If you only have one vehicle, it may not be the best idea to use your car that can be taken from you.
For more information, talk to a bail bonds company in your area.