After your arrest, you must post bail before you are released from jail. Usually, these payments will secure your release, giving you a chance to proceed with your normal life. However, you might not afford some bail or bond amounts the court sets. For most defendants, this means additional time behind bars.
Accessing financial support is a priority for many suspects soon after arrest. With the right bail bonds service, you will exit jail as soon as possible and attend court hearings from home. What's more, your financial load is lesser when working with the bail bonds service provider. You don't have to break the bank when you have bail bond financing options.
What Bail Bond Financing Entails
When a court rules that you must provide bail or bond for your release, the conditions may be unobtainable for you. This is because of the ranging price amount depending on the type of offense committed. For most people, paying cash upfront is an unattainable demand because they may not have foreseen an arrest. Even when you are aware of the subsequent bail hearing, you may struggle to raise the necessary amount.
You can reduce the financial stress that you may be under by requesting bail bond financing. The service supports you by providing unique payment strategies. The main focus is to help you leave jail without spending a lot of money in the process. It is understandable that the cash may be inaccessible or that most people may not afford it. Therefore, the bail bond financing steps in to support hundreds of clients every day to secure a faster jail release.
Through the bail bond servicing, you will only pay a small percentage of the total bail or bond as we take care of the rest. The trust relationship between the bail bonds company and its clients is very high, enabling them to put your needs first. After you return to your normal life, you will have ample time to organize yourself and start making small payment installments.
Understanding the Bail Bond Financing Plan
When you decide to use bail bond financing services, you should understand the requirements before approaching a company. You can gain knowledge by reading through various resources and seeking clarifications from experienced professionals.
Thanks to the acquired knowledge, you will be ready to enter an amicable agreement and receive financial help. On top of that, the process of your release from jail. The following are the various stages of a bail bond financing service:
The First Down Payment
Like most financial services, most bail bond financing companies require a down payment fee for the jail release process to begin. However, since, understandably, you may lack access to money at the time of the request, most companies are willing to adjust the down payment amounts. Alternatively, they may adjust the payment period to accommodate your ability to transfer funds.
You should note that the down payment fee is critical in beginning the jail release process. Since your bail bond service provider may have multiple pending cases, we recommend transferring the payment as soon as possible. Nonetheless, reasonable grounds for making deposits later will be assessed and accommodated accordingly.
After you have been released, the bail bond financing agreement will continue. The payment plan may last for a significant period, considering most bail or bond amounts are high. Specific to bond payments, the bail bond company you work with will have deposited a large sum of money as security for your release.
This also serves as collateral for any property that you would have otherwise handed over to the court as bond. Based on the significant assets transferred on your behalf, you will need to service the bail bond financing through installments.
Each company provides its mode of installment payments. Thus, you can expect to work under a unique agreement, provided it meets your needs. For example, you may receive instructions to make monthly installments until completing the repayment. In other cases, the installment options may be more flexible depending on the agreement reached.
Once all payments are completed within the stipulated timeline, your contract with the bail bond financing service terminates. This is the expected outcome after both parties have fulfilled their requirements.
Clearing the Interest Rates
Since bail bond financing works as a unique loan agreement, interest will accrue on the money paid to the court for your release. For example, if the bail bond company had to pay $3000 for your release, they may charge an interest that requires you to repay $3900. Interest rates are important for a company to remain in service, as they help bring in profits for proper maintenance.
A bail bond service company should be transparent with the charged interest rate. This will prevent any future disputes with the clients that may strain their professional relationships. Upon receiving the interest rate figures, you will be given a specific timeframe to clear the payment. After all three stages are complete, the bail bond financing service will close your file.
Requirements to Meet Before Your Approval for Bail Bond Financing
Despite the benefits enjoyed by persons who choose bail bond financing, the service requires clients to meet certain qualifications. These requirements will help the company to provide financing based on an informed position.
Further, meeting the requirements means that you are financially responsible for taking on the service and making repayments later. Thus, the service provider trusts you more and may be willing to adjust certain agreements. The common requirements to satisfy include:
- You should provide your employment details.
- Records on your credit score.
- Relevant account records.
- A guarantor for bail bond financing.
- Your age should meet company requirements.
The Importance of a Credit Approval Requirement
While bail bond financing is accessible for most residents, you will need to meet a few credit requirements. The main objective is to receive credit approval, meaning that your credit score is decent. Typically, the bail bond financing service does not discriminate against clients with below-average credit scores, provided they receive approvals. This is because you may require the service urgently, so closing you out would be challenging for you.
After providing the necessary credit approval documents, the bail bondsman handling your case will start the transactions. Undertaking the services expeditiously is an important goal to help you leave jail soon. The anticipation as you await your clearance may be unbearable, but you will receive news as soon as the bail bondsman clears the court fees.
Effects of Failure to Pay your Bail Bond Financing Amount
Although compliance cases in repaying the bail bond financing amounts are the norm, some clients delay or defect in completing them. Consequently, the bail bond company you are working with can pursue legal action against you. The suit will aim to compel you to make all the required payments or risk facing legal repercussions.
In some cases, the presiding judge may order a client to make the monetary repayments within a specific period or risk serving time in jail. On the other hand, the court may allow public auctions to allow the bail bond company to reclaim its money through proceeds.
Despite the two discussed outcomes, most companies value maintaining strong bonds with their clients. As a result, an assigned company representative will lead negotiations and other dispute resolution mechanisms to try and reach an amicable agreement.
Discounted Prices for Bail Bond Financing
Usually, a bail bonds service will pay for your release, then charge a service fee. The recommended pricing is 10% of the total bail or bond amount. Subsequently, your fees may be high or low, depending on the amount that the judge sets.
Understandably, most clients are unable to raise the 10% fee total based on various factors. Discounts are available for clients who demonstrate their financial positions and are willing to stick to their payment plans. This way, you do not have to struggle with completing the payments upfront.
Bail Bond Loan Financing Options
Our loan financing options are flexible, friendly, and specially crafted for each client's needs. You can avoid the hardships and financial pressures of partnering with a bank or other institutions by working with bail bond loan financing.
In doing so, you avoid repossessions of your collateral property in case of defaulted payments. Further, you can preserve your credit score, as we offer several alternative payment options before reporting a bad score.
Generally, seeking bail bonds loan services can help you avoid numerous constraints that would otherwise limit your freedom. The goal is to let you focus on subsequent court processes without worrying about your finances.
Zero Down payment Bond Options
Having shown approved credit, your bail bonds service is more trusting of you and will give you access to more friendly financing options. While in court, the judge may direct you to secure your release through a bond.
The bond alternative is applied to help the court receive collateral for your appearance in future hearings and proceedings. This is different from a bail agreement that requires fewer amounts in exchange for your freedom.
Typically, bond amounts to be deposited as collateral are expensive. They are set this way to guarantee your court appearances. You will therefore require bond financing to help you leave jail by working with a bail bond agent. They appear as your guarantor in court and provides the required amount.
Although the bond amounts are high, you can receive the financing option without making any down payment. After your release, you can then negotiate a suitable payment plan to compensate the bail bonds company. This zero-down plan has been beneficial to many clients who otherwise lack alternatives in making the bond payments.
1% Payment for Bail Bond Release
Alternatively, you can try the 1% deposit financing available. Like the zero down payment, we will downsize the deposit amount required to receive the required bail bond financing. In return, you can focus on other legal processes to secure release as you choose a repayment plan that works for you.
Thanks to the option, you will be confident in the bail bondsman services without spending too much on the initial deposit.
Benefits of Using Bail Bonds Financing
Overall, the bail bond financing option is only accessible for California residents based on the regulations. Several benefits come with using the service, on top of receiving flexible payment rates. These will enhance the overall jail release experience and provide a chance to make repayments comfortably. The following are some advantages of working with a bail bonds financing service:
The Payment Plans are Flexible
Most financial institutions like banks and microcredit companies provide stringent requirements and expectations after loaning you money. They may demand that you begin serving your loan immediately after release, despite your circumstances. Moreover, most have high interest rates that result in large sums overall.
On the other hand, working with a bail bond financing service gives you access to more flexible plans. The business model is built around helping you maintain financial control in your life. This way, you will not have to forego other important responsibilities to pay for bail. Thanks to the various flexible payment plans, you can select a suitable one that meets your needs adequately.
Credit Score Requirements are More Lenient
Although you will need to show your credit approval, working with a bail bonds service provider is better than other financial institutions. The requirement is mainly set to ensure that the applicants are residents and can complete payment plans. Thus, you do not have to worry about providing extremely high credit scores for your bail bond financing to be approved.
On the contrary, the service has helped many clients with good to poor scores. These arrangements have been successful as clients complete the payment plans on time. In doing so, the service remains available to you at any time, including in the future.
You Can Access Discounts
Everyone likes a discount, especially if it will help cut costs significantly. Some financing agreements provide discounts to clients, especially if they fall within specific criteria. For example, military members in service or who have completed service fall within the special group.
Discounts are widely available for other clients, and you will only need to reach out for more inquiries. By enjoying these benefits, you can finance your bail bond payment adequately and avoid financial constraints.
You Do Not Have to Provide Collateral
Most people hesitate from seeking bail bond services because of the required collateral. This arrangement requires you to provide a valuable piece of property as security for the payments made by the service. In case of defaulted repayments, the bail bond company possesses the property to cash it in as repayment for your fees.
Although the service model is widely accepted and used, it may create a lot of pressure on your end. You will not want to lose your valuables, meaning that you may push yourself to access money through subsequent loans. In the end, you will face the same financial pressure you aimed to escape.
By not requesting collateral, you are more at ease with the general financing system. Most clients are also able to prioritize making repayments when less pressure is involved. Ultimately, you will be released from jail in good time and still have a flexible payment option.
How 24 Hour Bail Bonds Can Help in Bail Bond Financing
Any arrested person in California may require bail bond financing to help with the jail release process. Finding a suitable and efficient service provider may be difficult, so you want to be confident in the company with which you enter a deal. Having a criminal attorney working on your case may be beneficial in finding a good bail bonds financing option. If you prefer to work individually, you can also contact us directly for further guidance.
Contact a Bail Bonds Service Provider Near Me
When you or a loved one faces detention, the circumstances may be difficult to handle. Adjusting to a new environment where your needs are not adequately met can throw you off mentally, regardless of the time spent in jail. Therefore, you want to exit the jail as soon as possible by posting bail or bond.
You can overcome the challenges posed by highly-priced bail amounts by working with a bail bonds financing company. The team will have your best interests in mind and will put their best efforts into making transactions on your behalf.
At 24 Hour Online Bail Bonds, we will offer you quality and speedy bail bond financing services that help you spend less when securing your release. The user-friendly and flexible financing options make it easy for any detainee to receive bail bond financing. Moreover, the accessible services incorporate online processes for efficiency.
Upon partnering with our team, you can expect excellent bail bond financing assistance to help you walk out of jail and plan your finances. Our services are available to clients seeking bail bond financing services in Los Angeles, Orange County, Riverside, San Diego, and San Bernardino, California. For more information, contact us at 800-930-8999.