Things First-Time Borrowers Need To Understand About a Bail Bond Agent
Most people go their entire lives without ever being arrested or charged with anything, which means you may have never had to get bail money for anyone before. If you have a loved one in jail, you may be experiencing a scary time. You now find yourself needing bail bond money in a hurry to get your relative out of jail.
Seeing as you have never had to do this before, you probably know very little about what a bail bond agent does. That can lead you to ask or do things of the bond agent that he/she is not at liberty to do. To better understand these agents and the bail bond services they provide, the following information should help.
Bail Bond Agents Do NOT Lend Money
Bail bond agents are not lenders. They are not financiers of any kind, and they cannot give you money in exchange for goods. They cannot draft lending contracts for any amount of dollars at a percentage to provide you with the means to take your relative out of jail. That is not what they do; however, they can take titles, deeds, credit card payments, debit card payments, cash, checks, and some even take digital payment formats (e.g., Paypal, Zellmo, etc.) in exchange for a bond that will go to the jailor and release your relative.
You Do NOT Get the Money or Deeds/Titles Back Unless Your Relative is Acquitted
Too many people assume that you get your money or property documents back if the relative shows up for all required hearings in his/her case. Sadly, that is not the case. You only get some money back, and most of your property, if your relative is acquitted and/or found innocent. Part of that amount paid to the bail agent is the bail agent's fee, and another part goes to the courts to resolve legal fees associated with the case. If your relative jumps bail or is found guilty/no contest, you get none of it back. That is why it is so important to seriously consider this matter and choose wisely what you want to put up for bail money and give to the agent.
The Bail Bond Agent Cannot Financially Advise You
A bail bond agent can talk you through some options that will help you decide how best to finance your relative's release from jail. However, the bail bond agent cannot financially advise you in any way, shape, or form because it is a legal conflict of interest and because he/she is not licensed to do that. If you want financial advice and you are considering a loan from a lender to finance a bail bond, talk to the financial advisor at your lending institution of choice.
For more information about bail bond services, locate an agent near you.