Bail Bonds: Common Misconceptions
It is easy to get confused about your responsibilities as indemnitor, the title given to the person who signs a bail bond. For one thing, you are most certainly struggling with the news you have just received that someone you love has been arrested and locked up. Now, you have the added stress of being responsible for hiring a bail bondsman to post bail. Before freaking out and putting yourself in an even worse position, here are some common misconceptions that people have about bail bonds. The following statements are all commonly believed, but completely fictitious.
Bail Bonds are Negotiable This is certainly a false statement. A judge determines how high to set the bail costs and State Legislation determines what the bail bonds businesses are allowed to charge. In California, for example, a Los Angeles bail bondsman is allowed to charge a fee of 10% of the total bail bond price. This fee is non-negotiable. If a bail bondsman offers a discount or coupon, then he is either lying to you or breaking the law. It is not worth the risk to use a bail bondsman who is operating illegally. Also
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Bail Bondsmen Charge High Interest for Financing On the plus side, the law mandating that the bail fee also means that interest rates cannot be charged. Some bail bonds businesses offer financing plans for indemnitors who cannot afford to pay the entire sum at once. Usually, you must provide collateral or prove a strong credit history in order to receive a long-term payment plan, but as soon as you are approved, the bondsman is not l egally allowed to