Getting arrested may take a toll on your physical, mental, and emotional well-being. Fortunately, unless you’re a repeat offender, charged with a crime in which the maximum sentence is life imprisonment, or charged with a drug offense with a penalty of over 10 years of imprisonment, you are entitled to post bail.
When you do, however, it’s not your physical, mental, and emotional well-being that take much of the beating — it’s your finances. The solution? Call on a bail bondsman.
Acquisition of Money on Short Notice
Putting together your money for bail is one of the most challenging things to do; sometimes, you may not get to acquire enough funds to get out of jail fast. Bail bonds, fortunately, can be acquired relatively quickly. Some providers of bail bonds in Raleigh, NC are even available 24 hours a day, which means you can post bail whenever you need them.
A bail bondsman will also pay the full amount upfront, and you’ll likely be responsible for paying only a small part of the total amount, instead of paying in full at once.
Reduced Jail-Holding Time
Being jailed can mean missed workdays, which means hours of lost wages — and even loss of a job.
But because a bail bondsman can help you get out of jail even within 24 hours, you spend less time behind bars and more time on other important things, and actually go to work. Paying for the preset bail amount with the help of an agent can also save you from being arrested in the first place.
Flexible Payment Plans
Bail bond companies and agents understand the financial burden that comes with posting bail, which is why many of them offer flexible payment plans. This allows you to pay in installments instead of making one potentially large payment.
Some bail bond companies in North Carolina, like Raleigh Bail Bonds, even offer plans with as little as 5% down and 0% interest rates; others do not require credit checks, which means individuals with bad credit may apply.
Reduced Likelihood of Defaulting on Debts
This is perhaps one of the most overlooked financial benefits of hiring a bail bond agent. When you’re arrested, you increase your chances of defaulting on the debts you already have. Defaulting on a debt simply means missing one or multiple payments of your debt, depending on the terms with the creditor. This can turn to significant costs, and may even hurt your credit even more.
With a bail bond agent, you can post bail, get out of jail, and meet your financial obligations.
No Asset Liquidation
If you decide to post bail instead of staying in jail, you might have to liquidate your assets, even refinance your mortgage, just to have enough money for bail.
Another overlooked financial advantage of hiring a bail bond agent is avoiding the liquidation of your assets. You will also only have to pay a certain percent of the bail amount depending on your state. For instance, in Raleigh, NC, 15% of bail bonds should be paid. The amount may also depend on the nature of the crime, your criminal record, and a host of different factors.
Bail amounts can be excessively costly. But with the help of bail bondsmen, you can get out of jail as soon as possible and get your life back to a semblance of normal — while staying financially stable.