Borrowing Money For Bail: What You Need To Know


Hopefully, you'll never be in a situation where you need to post bail. If you are, however, you'll probably want to have a bail agent that you can turn to in the event that you're unable to pony up the cash to post your own bail. Bail bondsman offer loans for bail money that you can pay back (along with interest or other applicable fees) at the time of your court date or arraignment. Before you decide to borrow money from a bail bondsman, however, there are some things you need to know.

Inmate Number

In order for the bail bondsman to post bail on your behalf, he or she will need to know some basic information about you and the jail where you are being held. In most cases, an inmate number along with your name and the name of the jail will be enough for the transaction to take place. If you need any additional information, however, this should be communicated to you when you make the phone call to the bail agent.

The Terms of Your Bond

Before you sign off on any type of loan for your bond, make sure you know what your responsibilities will be for paying back the loan. In almost all cases, you won't be expected to pay the money back until after your court date (when you should receive your bail money back). However, you'll want to be aware of what type of interest or fees you may be accumulating in the meantime and how long you'll have to pay everything back.

Your Court Date and Time 

When you make bail, you should be assigned a court date and time for your arraignment. Keep in mind that if you fail to appear for your court date, you will forfeit your bail money and a warrant will be issued for your arrest. This is not a situation you want to find yourself in, so make sure you mark your court date on your calendar and find a reliable way to get there on time.

Reliable Contact Information

If your bail agent needs to get in touch with you for any reason before your court date, he or she will need an updated phone number and address. Be sure to provide legitimate contact information when you sign off on your bail bond so you don't miss any important correspondence regarding your bail bond terms.


29 November 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.