Paying for a bail bondsman in Peoria, AZ, is much easier than most people think. Bondsmen accept cash, credit, cashier’s checks and even electronic bank transfers. There are also alternative payment plans that most people can manage.
Collateral as Payment
Some bondsmen accept collateral as part of the bail bond fee or to cover the whole cost. In most states, a bail bond fee is usually 10 to 15 percent of bail. It’s also nonrefundable. This fee doesn’t include court filing costs.
To cover part or all of the bail bond fee, defendants, friends and families might be able to put up cars, real estate, jewelry, guns and electronics. Collateral may be liquidated if necessary to cover full bail if the defendant flees. Smaller items may simply serve as a form of currency in the absence of cash or credit.
Financing a Bail Bond
These days, it’s possible to finance a bail bond the same way one finances a car. The financed bail bond is essentially a bail bond loan. The loan covers the bond agent’s premium and allows the defendant to repay the loan in small installments over a set period.
Another form of financing allows the defendant or payer to put down a smaller amount than 10 to 15 percent of the full bail amount. Instead, the bail bondsman in Peoria AZ, makes up the difference; the defendant repays the agent’s contribution in installments over time. As a result, it’s possible to get out of jail for thousands of dollars cheaper up front.