Did you know that at least 4.9 million people are jailed annually in the US alone? Fortunately, if you get arrested today, you can use bail bonds to stay out of jail as you await your trial, especially if you can't manage to settle bail out of pocket. Keep reading to discover more about bail bonds.
Bail Bond Definition
A bail bond is an agreement that you, the defendant, cosign with a bail bond agent. It offers you freedom in exchange for a specified amount set by the court. Typical bail bonds assure the court that you'll honor court-mandated trial dates. But before you can use bail bonding services to secure your freedom, you must go through a bail hearing before a judge who'll set the bail amount. Then, if you are incapable of settling the full bail amount, you are allowed to seek help from a bondsman in exchange for a small fee. Note that most bail bonding companies ask for collateral like automobiles, houses, or jewelry before securing your bail.
Common Bail Bond
Some of the popular bail bond options available today include:
1. Property bond
You are likely familiar with paying cash bail. But you may not know there are instances where the court allows you to use your property as bail. That is the most viable option for defendants that can't access cash bail. Using a property bond means the court can secure a lien against your property for the bail amount. Then, if you skip your trial, authorities can foreclose on it and collect the specified bail. If a property bond seems like the best option for your situation, seek assistance from a bail bond agent. They will help you navigate through processes like verification, appraisal, and confirmation of your property's value.
2. Surety bonds
Surety bonds are tailored to compel you, the accused, to act in specific court-mandated ways. That means a surety bond guarantees the authorities you won't do anything that goes against a specified contract or engage in illegal activities. This type of bond is issued and backed by a surety agency responsible for fully settling all valid claims. After obtaining a surety bond and getting the court's verdict, you reimburse the agency the total amount plus interest and any other relevant fees.
3. Federal bail bond
Federal boil bonds are within the domain of federal district courts. This type of bond covers federal offenses like money laundering, kidnapping, tax evasion, and identity theft. Like cash bail, federal bail secures your release once you have been granted bail. The difference is, federal bail saves you from federal jail. If you can't afford it, bond agents offering federal bail bonds can step in and help you make the settlement.
Contact a company like Abel Bail Bonds for more information.