Did you know? 1 out of 20 individuals will serve a term in jail at a certain time in their lives. This is according to statistics. Thus, you or your loved one can end up in jail at some point. The chances are high it can be a traffic violation. You may be arrested whenever you least expect it. You’ll have to pay a set amount if you want to be released.

What’s a Bail Bond?

The amount you are estimated to pay to get out of jail is called a bail bond. The bail bond is supposed to be set within 2 days after being arrested, according to the law. However, there are exceptions to this law that can be applied for first-time offenders in general. There are several reasons why it’s vital to leave jail even if you have been arrested due to a violation. This includes:

  • It allows you to take care of your family
  • To be able to get back to work and keep on making a living
  • To have time to work on your defense

That’s why bail bonds Henderson NV are vital.

Forms of Bail

There are 2 forms of bail bonds – surety and cash. Their applications vary on the crime. You’ll require the complete amount in cash for a cash bond. On almost every occasion, this option can end up being less affordable compared to the surety. Typically, a surety is set for serious offenses such as felonies. For bigger amounts, you may have to hire a bail bond company if you want to be safe.

How Does It Work?

You will have no other choice but to hire a bondsman if the imposed bail bond is a huge amount. For those who don’t know, a bondsman will cover the remaining fee after you have paid 10% of the amount. They will draft an agreement and you’ll have to offer a guarantee that you’ll appear in court for the particular dates.

Aspects That Affect the Amount for a Bail Bond

There are several aspects that can affect the amount set for a bail bond. The primary contributing aspect has to be the seriousness of the offense. You may also have a lot of criminal offenses. The judge can also improve the amount if you’ve got a habit of not showing up in the court. In addition to that, there’s also a possibility that the judge can deny you bail. This greatly depends on the severity of the offense.

Collateral for Bail Bond

Not all bail bond companies are the same when it comes to collateral. For almost every company, anything that’s deemed as an asset can be utilized as collateral. A couple of the most common examples include:

  • Jewelry
  • Credit cards
  • Stock
  • Bank accounts
  • Car
  • Real estate

In almost all cases, you will not get the money back. The money that you spent will be considered as a payment for their services if you utilized a bail bond company. You can get a part of the money back if it’s a cash bond.