Many times, when a family member is arrested someone will want to help them get out of jail quickly. If the arrested person is able to get out quickly, they can get a lawyer to help them with their case and continue to work to support their family while they wait for all of their hearings to be completed. However, there is a risk for the family member who decides to help them. It’s important to understand this risk before they work with a bail bond company like Free At Last Bail Bonds in Atlanta.
The person who obtains the bail bond is going to have to agree to the terms of the bond and give the bondsman either a percentage of the full bail amount or something as collateral. If they choose to use collateral, it must be worth more than the bond amount. Once they have given the collateral to the bondsman, the bondsman will pay the full bail amount for the jail. If the arrested person follows the terms of the bond, the bondsman receives their money back from the jail when the hearings are completed and the family member receives their collateral back again. They’ll typically have to just pay a fee for the services.
If the arrested person does not follow the terms of the bond, the bondsman is not going to receive their money back. At that point, the family member has the option of repaying the full bail amount to the bondsman or forfeiting their collateral. It’s likely they’re not going to have the money for the full bail amount, so in most cases, they will need to forfeit the collateral to cover the money the bondsman lost. If they used their house, vehicle, or something else as collateral, the bondsman could sell it to recuperate their losses.
It’s important to understand this risk before contacting a company like Free At Last Bail Bonds in Atlanta to obtain a bail bond for a family member. They’ll want to make sure the family member understands what is on the line and what they need to do to ensure the collateral is returned. For more information on bail bonds or to obtain one today, Click Here.
