Joan was shocked when she got the call for bail. Her daughter Jessica was being held at Wayne County Jail. This was a first. Joan had no idea what was going on. But, she knew she had to find a way to get Jessica out. She wondered if there was such a thing as bail financing.
When she got her wits together, Joan was able to figure some things out. First, she made sure to contact a reputable bail bonds agent. Together, they determined that Jessica had been with the wrong people at the wrong time. We know. It sounds like everyone’s story.
Fortunately, the bail bonds agent was not only compassionate, he was also efficient. He went through Joan’s resources. The family home did not have much equity. Joan did have some credit cards, but with not much available credit.
Obviously, as a mother, Joan was desperate to get her daughter out of jail. Joan had an excellent job and a superior credit score. She pleaded with the bail bonds agent to help secure Jessica’s release. And, fortunately, Joan was able to work some things out. Here’s what you need to know in case you are faced with a similar situation.
Bail Bonds Financing
In unique situations, bail bonds financing can be arranged. We’ve already talked about using collateral as a means of setting up bail for someone’s release. Credit cards are another option. Of course, most credit cards come with limits.
So, what is bail bonds financing? If the person who is agreeing to secure bail has good credit, a bail bonds agent may decide to set up a payment plan. It’s like any other loan agreement.
First, there must be proof that the person has the ability to pay the finance payment. And, that they have a history of good credit. Otherwise, there is too much of a risk involved.
Financing arrangements are obviously set up on a case by case basis. If someone defaults on the loan, it is treated like any other bad debt. The bail bonds agency will first attempt collection. If they are not successful, they may turn the matter over to collection. Of course, the final step would be to take the debt to court in the form of a lawsuit.
Need to arrange bail for a loved one? Contact Andrew Pizzo Bail Bonds to see how we can help you. We can offer you advice to help make the process easier.