How Does Bail Work?


When you or someone you care about gets arrested, your first thought is usually how to get them out. Some people choose to simply wait out their time in jail, thinking about what they have done. However, depending on the crime of the individual, getting out on bail may be an option.

Bail Bonds

There are many different types of bail, just like there are different types of crimes. Some bail periods work like parole where you need to check in every so often. Not all incarcerated individuals will be granted the opportunity to leave on bail. This depends greatly upon if there is a chance the person will try and evade the law, if there is drug use involved, or if they are a danger to society. Bail is basically forfeiting either money or something that is of worth, such as your home or car, to ensure that you will return for your court date. Once the accused individual makes an appearance in court on the designated day, the bail is reimbursed. Unfortunately, most people do not have several thousand dollars lying around for the off-chance that they will need to post bail for someone.

Bail Bonds Services

This is where bail bonds services enter the scene. For a relatively small fee, a bail bond (loan) can be purchased with very short notice. Bail can be posted on behalf of the incarcerated individual, and all will be squared away until the date of the trial. Since most individuals are smart enough not to run away from the law, bail will most likely be returned to the individual who took out the bail bond shortly after the court date. Once bail is received, the agreed upon amount will then be paid to the bail bondsman, simple as that. 

Unfortunately, should an individual miss their court date, the bail is forfeited to the state. This is the point where many people get in trouble with bail bonds services or bounty hunters. As part of the contract signed by the receiver of the bail bond, should the bail not be repaid, a bail bond agent or bounty hunter may forcibly return the individual in question back to the custody of the police. Before signing on the dotted line to receive a bail bond, read the fine print. There could be an interest rate attached to the bond, and sometimes it might be better to just wait it out in jail.


30 October 2018

Know Your Options when Financing a New Business

When I began my first business selling sports equipment locally, I knew the sports-world well, and I knew how to run a business. One thing I did not know a lot about was the financial world. I had never applied for a loan in my life other than when I financed my car with the dealership in-house financing. My first application at a large bank was denied. I began looking into my other options, and I found that there were more lenders for new businesses than I realized. I applied at local credit unions, local banks, and other business lending services. I was able to secure more funding than I even expected, and my credit is just average. I created this blog to help other new business owners realize that there is funding out there. You just have to find it and apply! Don't give up on your dream.