What Is a Surety Bail Contract?
If you are like most people, you do not have the money sitting around just waiting to be used for a family member's bail. A bail bond can be used to help you get your family member, or yourself, out of jail. If you're wondering what surety bail is, here are some facts that will answer your questions.
What Exactly Is Surety Bail?
Surety bail is a type of contract that allows you to get your family member out of jail without paying all the bail. You end up paying the bail company a set amount of the total bail. The signed contract guarantees that the rest of the money will be paid if the accused skips town or misses their trial date.
What Are The Risks to Me if I Sign the Contract?
There is some risk that comes with signing the surety bond. As a signer, you will have to put up collateral for the bond. This means the bond company can:
- Seize accounts to satisfy the bond.
- Take your car as payment.
- Put a lien on your home.
- Garnish your wages.
How Does the Process Work?
The process is relatively straightforward when it comes to bail bonds. Once bail has been set, you have the option of getting out of jail with a bond. The bond company will usually charge 10 percent of the bond amount. You will have to pay this amount before the bond can be issued. For instance, if the bond amount is $5,000, you would pay $500 to get the bond. Once the bond is set, you will sign the contract, and then your loved one can be taken out of jail until their court date.
If I Have Collateral That Is Used To Secure the Bond, When Can I Expect It Returned?
The process for having collateral returned takes place once the defendant has gone through their court case. It can take two to three weeks to have your items returned.
Collateral is required to guarantee the bond. The bonding company will not just hand you the money without having a way of recouping their losses if the defendant decides to skip town and not show up for the court date.
At Free at Last Bail Bonds, we understand the importance and urgency of reuniting families. If you or a loved one needs our services, we are here for you 24 hours a day at 404-577-2245. Call us today and let us help get your loved ones out of jail.