Most individuals feel no need to understand the ins and outs of Bail Bonds in PG County until they or a loved one has been arrested. They may have a cursory understanding based on what they have learned from hit television programs, but television is not real life. Keep reading to learn the answers to some frequently asked questions about bail bonds.
What are Bail Bonds?
After someone is arrested, a judge will decide if bail is appropriate, and if so, will set the bail amount. Since most people don’t have large sums of cash available to leave with the court, they obtain a bail bond. Instead of paying the full sum to the court, the defendant will pay a small percentage, typically around 10%, to a bail bonding agent who will then deposit the total bail amount with the court to secure the defendant’s release.
What is Collateral?
The bail bond company takes a risk when posting bail for a defendant. If the defendant does not meet their court obligations, the bail bond company stands to lose the money they deposited with the court. To mitigate this risk, they will require collateral when issuing the bail bond. If a defendant fails to meet the obligations and the bail bond company loses their bail funds, they will take possession of the collateral assets. The thought is that a defendant will think twice about skipping court if they know their loved ones could lose the collateral assets that were placed to secure their bail bond.
Will Bail Bond Fees be Returned?
Once a defendant has met all of their court obligations, the bail amount is returned regardless if they are found innocent or guilty. The bail bond agency will then return the collateral from the bond, but the bond fee paid will not be returned. That is the fee paid for the convenience of only having to supply a small percentage of the overall bail amount.
How to Find a Reputable Bail Bond Company?
Do not fall for a scam by paying money to someone claiming to be a bail bondsman only to have them run off with the money. Be sure to use a bail bonding agency that is well established in the local area. Ask for recommendations from lawyers or others in the community if necessary. Contact 1st Class Bail Bonds for more information about Bail Bonds in PG County.