Risks Involved with Bail Bonds in Midwest City Oklahoma

by | Sep 19, 2014 | Bail Bonds

If a friend or family member has been arrested, they may have called you to ask for help securing a bail bond. This is generally the case when the bail amount is too high for them to pay from the jail, and it allows them to leave the jail until their court hearings. However, there are some things to be aware of before securing a bail bond for someone, as there are financial risks involved with bail bonds in Midwest City Oklahoma.

When you secure a bail bond, you have to either pay a percentage of the bail amount, usually 10%, or you have to give the bondsman collateral to cover the bond. This collateral can be anything of enough value to cover the bail, such as the title to a car or home. You’ll also have to sign a contract stating you agree to the terms of the bond. Your bondsman will go over those terms with you and will make sure you understand them.

One of the most common terms is what happens if the person you are helping doesn’t attend their scheduled hearings. If this happens, they will receive a bench warrant for their arrest and will have to remain in jail until their hearings are complete. The bail amount is also forfeited. This means you lose the collateral you used or, if you paid a percentage, you will have to pay the remaining percentage to the bondsman. This can be very costly, so it’s something to keep in mind before securing a bail bond.

If your loved one has been arrested, Bail Bonds in Midwest City Oklahoma can be a great way to help them. Just remember there are financial risks involved before you secure a bond, and ensure the person will be attending their hearings. However, if you’ve already received a bond and you know they plan on missing a hearing, talk to the bondsman about the situation to see how they can help. If you have any questions about securing Bail Bonds or a bail bond you have already secured, don’t hesitate to call and speak with a bondsman today.

Similar Posts