You might have seen tons of people on the news get released on bail, but then you hear the extravagant amount of money that they paid to get out of jail.
To most people, getting that money in a short amount of time is almost impossible. If you or your loved one might end up in jail, you might be struggling to scrounge up the cash to pay for bail.
However, many of those people on TV got released by paying for bail with bail bonds, and here’s what you need to know about bail bonds NYC to get the defendant or yourself out of jail.
First things first, the case that is charged against the defendant must be bailable. A judge decides how much the bail would be for the defendant.
For smaller crimes, some jails have a set price list for bail so the defendant can be released as fast as a day or even less.
The bail must be paid for in full, and majority of that amount would be returned to the defendant after the trials are over if they followed the rules of being on bail.
However, not many people can pay for bail on their own. This is why many people get bail agents or a bail bondsman to help them post a bail bond for them.
A bail bond begins by contacting a bail bondsman and they will assess if you qualify for the bail bond. This can include assessments of your personal life, your finances, the case, and such.
If you are worried that you might not get approved, you can ask a relative or a close friend with a good reputation as a citizen to cosign with you.
You will then be required to pay a fee to the bail bondsman for their services before they post bail if you get approved.
The fee for bail bondsmen will be regulated by the state, so be sure to double check online before you make a deal.
Typically, the percentage can range anywhere from 10-15% of how much your total bail amount would cost, so you would have to pay the bail agent $100 if your bail was set at $1,000. You will also be required by most bail agents to give them collateral for the rest of the 85-90% of the bail amount.
The process of how fast a defendant gets released from jail depends on how fast the jail receives and goes through the paperwork.
You might be wondering why they require collateral. The collateral will be given to the court by the bondsman if you or the defendant doesn’t show up in court.
However, if you or the defendant goes to all of the court hearings, the bail bond will be dissolved and the collateral will be returned to you. However, the original 10-15% will be kept by the bail agent as a service fee.
A bail bond is the best way to pay for bail without going broke. Be sure to remember the process to efficiently get bail bonds NYC.