If you are asked to post bail for someone and do not have enough money to cover the bail, then you may have to contact a bail bondsman. However, you may be wondering how you are going to pay the bail bondsman back once the bail has been posted. To understand this, you will need to know how the bonds system works and when you could be afforded a refund.
When you need to post bail, but do not have sufficient funds, then you will contact a bail bondsman. The bondsman will post the full amount of bail through a bond to the court that the person is being held in. You will be charged a premium for this service, and this will be around 10% of the bail amount. The payment of this dividend will be negotiated with the bondsman as you would be able to pay it upfront or in installments depending on the size of the bonus.
What Are The Costs Of Using A Bondsman
The premium that a bail bondsman can charge you will be based on the regulations and limitations in your state and area. Most states have a limit of 10% on the amount that a bondsman can charge for the service. However, some bondsmen are legally allowed to charge less and will work with an 8% fee. The premium will depend on the bondsman and the regulations in the area.
Do You Get Your Money Back Once The Case Is Over
If the person you have bailed out has made all of their appearances in court, then the bail amount will be returned to the bondsman. However, the 10% premium that you have paid will not be returned as this is a non-refundable amount given for services rendered. If the person was released on bail, then the bondsman has upheld their side of the service agreement and is entitled to keep the premium.
However, if the bondsman does not meet their side of the service agreement, then you may be eligible for a refund of some kind. Of course, this will depend on why the bondsman has not been able to bail the person out. If you have provided incorrect details to the bondsman, then you will not be entitled to a refund.
The Collateral That Bondsmen Use
Each bail bondsman will have their standards are rules that they work by, but they will look at some form of collateral for a bond. The insurance will be used to cover the bail amount if the person you have insured fails to make all of their court appearances. When this happens, the courts do not return the bail bondsman in Reno, and they will recoup their losses through a seizure of assets in many cases.
The asset collateral that the reno bail bond accepts will vary depending on the company. However, most bondsmen will take real estate, stocks, cars, credit cards, personal credit, bonds, jewelry and bank accounts. If the bail amount is not returned to the bail bondsman, they also have the right to hire a bounty hunter to find the person the bail was provided for before recouping losses through the collateral.
If you have placed insurance on the Reno bail bond, then the bondsman is entitled to seize the asset to cover their costs if the bail is not returned to them. They will then be able to sell the goods to cover the monetary costs that they have. It is also possible to set up a payment plan with the bondsman in many cases, but the collateral will still be held as a stipulation of the repayment.