What are the Advantages of Disadvantages of Using a Cash Bond?

Posted on February 23, 2022 by admin

When the term bond is used in the criminal justice system, it refers to a guarantee. This guarantee promises the appearance of a defendant in court. If they do not appear for court, or otherwise flee to evade their criminal charges, they will have a warrant issued for their re-arrest, and they will be liable for paying back their full bond amount.

After being arrested, a defendant’s bond will be set by the presiding judge. The 8th Amendment protects defendants from excessive bail, and all states follow a set bail schedule as a basis for setting bail. A defendant has the option of using a bail bond service or a cash bond.

Continue below to learn the difference between the two types of bail options, plus the pros and cons of using a cash bond to get out of jail.

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Bail Bonds Versus Cash Bonds

To understand the difference between using a bail bond and a cash bond, an example is the best way to go. Let’s say your bail is set at $5,000. You have the option of hiring a local bail bond agency and using a bail bond to get released from jail, or you can pay the jail directly via a cash bond.

Bail Bonds

If you use a bail bond, you will have to sign a legally-binding contract and pay a non-refundable fee. The fee is a set percentage of your bond premium, which in this example is $5,000. So, if the bail bond agency charges a 10% fee, you would pay $500 for bail bond service, and this fee will not be refunded to you under any circumstances.

Under a bail bond agreement, you are liable for the entire $5,000 if you do not appear for court. You see, the bail bondsman pays the court or jail the full bond amount, then charges you a fee for that service. Once you appear for your court hearing, the bail bondsman is refunded the $5,000 in full. This is known as indemnity service.

Cash Bonds

If you use a cash bond, you do not have to hire a county bail bondsman. Instead, you would simply make a direct payment to the jail or court. However, this payment must be in full, which in this example would be $5,000 in cash or collateral. So long as you appear for your court hearing, you will receive all of this money back, minus any related court fees.

PROS:

☑ You pay a smaller fee for a release from jail.
☑ They are simple and straightforward.
☑ You can make a payment at the jail.
☑ No qualifications are needed.
☑ You can use cash or approved forms of collateral.

CONS:

☒ You have to come up with a large amount of cash on the spot.
☒ You can use collateral, but this puts your assets in jeopardy.
☒ Defendants might not get all their cash back if they owe child support or back taxes.

Are you looking for trusted and friendly bail bond solutions in Indiana? Contact Woods Bail Bonds at 317-876-9600 for 24 hour bail bond services you can trust. We also offer prearranged bail bond service for arrest warrants.

Additional FAQS About Acting as a Surety

Posted on August 7, 2017 by admin

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Acting as a surety is an important, yet complex, responsibility. For this reason, it is important to do your research to full understand the liability you face when you become a person’s surety. As an extension to last week’s blog, we are covering even more frequently asked questions about acting as a surety for someone who has been arrested and detained in jail. Continue below to review some more common questions, and their answers. You may also contact a local Indianapolis bail bondsman for direct
assistance with your bail bond inquiries.

☙ Can There Be More Than One Surety for a Personal in Jail?

Yes; sometimes courts will mandate multiple sureties for a person in jail. This usually happens if the case is a very serious one, or if the courts determine that the defendant requires more adequate supervision. Acting as a surety in a multi-surety arrangement simply means that you, as well as the others, will be fully responsible for the monetary consequences in the case that the defendant does not appear for court. Each party with sign the bail bond agreement contract, and hold equal liability.

☙ If I Am Acting as My Own Surety, What Do I Need?

To act as your own surety is not uncommon, especially when defendants are surrendering to an arrest warrant. All you need to bring with you to court is your legal photo identification and proof of address. Having proof of address is especially important if your address on your photo I.D. differ from your mailing address. Although not necessary, it can also be helpful to have current bank statements (as far back as 3 months), employment records, and possibly proof of property ownership (i.e. car title, house deed, etc.). This shows a court that you have the assets to back up the bond amount.

☙ Can I Be a Surety For More Than One Person at the Same Time?

This is usually frowned upon, and rarely approved by the court. That is because it is necessary to provide adequate supervision for a person who is out on bail and awaiting trial. Supervising more than one person is considered “spreading oneself too thin” since your attention is being demanding by two separate people, simultaneously.

☙ Does a Person Have to Have a Surety to Be Released From Jail?

A person in jail does not always need to have a surety to get out of jail, and for a couple different reasons. For instance, a defendant may not be granted bail by the court, and instead, must wait in jail until their trail hearing. In another situation, a person may act as their own surety and post their own bond. They can do this by hiring a bail bond company on their own, or paying their total bond amount in cash at the jail.

☙ Who Do I Call for Free Bail Bond Advice?

Woods Bail Bonds 317-876-9600

Call James Woods, owner and operator of Woods Bail Bonds in Indianapolis, Indiana. You can reach him or one of his highly trained and licensed Indianapolis bail bondsmen at 317-876-9600, day or night. We offer fast and friendly bail bonds, free jail information, inmate look-ups, jail pickup services, jail drop-off services, 24 hour emergency bail bond services, and more!

FAQS About Acting as a Surety

Posted on August 2, 2017 by admin

Learn the answers to the most frequently asked questions about acting as a surety for someone who has been arrested and taken to jail.

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Acting as one’s surety is a serious responsibility. If a person fails to appear for their scheduled court hearing, you are responsible for paying the remainder of the bond amount on their behalf. If you do not have the cash to pay off the bond, you would likely have to forfeit assets, such as real estate and vehicles. This means you could lose your home, your vehicles, your savings, and more. Because of the seriousness of becoming one’s surety, it is common for people to have a lot of questions and concerns. Continue reading to review some frequently asked questions and answers about acting as a surety in order to obtain a release from jail for a friend or loved one.

What Does It Mean to Act as One’s Surety?

Signing bail bond paperwork, also known as an agreement or contract, you are becoming one’s surety. This means you will supervise them while they are out on bail to ensure they do not leave town, break any further laws, and appear for their scheduled court hearing. If they do not appear for court, you face financial penalties. A surety must be approved by the court.

As a Person’s Surety, Do I Have to Make a Payment Upfront?

Yes; an upfront payment will need to be made to the bail bond company during the signing of the bail bond contract, which must take place before the process can begin. This fee depends on the set bond amount and the local percentage regulations. Most Indiana bail bond companies are authorized to charge anywhere from 10 to 15 percent of the total bond amount. This fee is nonrefundable and due at the time of signing.

Can I Be a Surety if My Income is Low?

Your income should not make too much of a difference as long as you can prove you are employed full-time and have been employed consistently for a long duration of time. This shows the bail bondsman that you are capable of paying the entire bond amount in the case that the defendant fails to appear for court. Having assets also helps. You can put up collateral, such as real estate, vehicles, stocks, and more.

After I Agree to Act as a Surety, Can I Change My Mind?

Whether the trial is taking too long or you have fallen tired of keeping track of the defendant, you may change your mind and want to rid yourself of the responsibility. Unfortunately, this is not easy. Once you sign the bail bond agreement, you are in a contract. However, you can go to the court and request to “pull” the bail. But this means they will also issue an arrest warrant for your friend or loved one, and they would have to surrender to police, get booked in jail, and post bail all over again. The decision is up to you!

Can I Be a Surety if I Have a Criminal Record?

Usually a minor criminal record will not keep you from being qualified to act as a surety. It depends on the severity of the charges and/or convictions, whether or not you have any pending warrants or charges, and a few other factors.

Indiana Bail Bonds You Can Trust

Woods Bail Bonds 317-876-9600

Call Woods Bail Bonds at 317-876-9600 for prompt and professional bail bond services in Indiana. Owner, James Woods, and his team of licensed and insured bail agents, provide 24 hour bail bonds in over 30 Indiana counties. Regardless of time, day, or city, we can get you out of jail fast, and for as low as 8% of your total bond! Request a free estimate, anytime!