If arrested for a crime in California, you might need to post bail to secure your release from police custody. It is crucial to post bail promptly so that you can return to your everyday routine and begin preparing for your trial and court proceedings. Time spent detained can also be daunting, stressful, and devastating. The cost of your bail depends on your alleged crime, among other associated factors, and can make it expensive. Low-earning defendants can struggle to raise the entire amount upfront. Most seasoned Riverside bail bondsmen recognize that and offer financing options and payment plans to cover the cost.

Bail and Bail Bonds

Bail is a monetary agreement between you and the court that permits law enforcers to release you from custody pending your trial. A California judge sets the bail money to ensure you attend court hearings. If you skip bail, the judge will forfeit your bail amount and issue an arrest warrant.

The following factors impact your bail amount:

  • Flight risk — If the court believes you can run from the county before your court date, the bail amount will be considerably high.
  • Your criminal history – You will pay a higher bail than a first-time defendant if you have a prior conviction.
  • Risk to general public safety — The level of risk involved influences whether the court will grant you bail. If it does, the amount will be high.
  • Your family responsibilities — Judges understand a defendant could be a spouse, parent, or care provider and will consider this when setting the bail amount.
  • Community ties — Individuals with stronger community ties can pay a more lenient amount.

You can post your bail as either cash bail, property bond, or Riverside bail bonds. A bail bond is a law-binding contract between you, the court, and a bail bond agency. You or your co-signer pay a premium to your bond agency, which will post the required bail amount. Most bonding companies require a ten percent non-refundable premium. If you jump bail or violate your release terms, the court will hold your bonding agent liable for paying your entire bail amount.

What Happens When You Cannot Raise Your Riverside Bail Bonds Premium: Bail Bond Financing

The set bail amount can be tens of thousands, making raising the ten percent premium challenging for some defendants. In addition to the large amount required, the court can hold the bail money for a long time; some court cases take years to close. Upon the conclusion of the trial, in some circumstances, it can take time to receive a refund from the court.

You can apply for a signature loan with your bank to seek funds to post bail for your loved one. You can qualify, provided you have a good credit rating. Nevertheless, partnering with a bondsman to develop a bail payment plan that suits your situation is more effortless.

The bondsman will ask you for your identifying information when applying for bail bonds and financing. Submitting false details can breach your application form terms, resulting in a denial. Your bonding agent will want to know about the following:

  • Your name.
  • Your birthday.
  • Your contact details (phone number, email address, and home address).
  • Your physical description.
  • Employer’s contact details.
  • Social security number.
  • The alleged crime charge.
  • The set bail amount.
  • The name of the jurisdiction holding you.

Ensure your handwriting is clear and readable. Your Riverside bail bonds agent will use your information to determine whether you qualify for the financing. If they cannot check out anything, they will assume you are concealing information or intending to skip bail.

Benefits of Bail Bonds Financing

Bail bondsmen develop financing options to make your life more comfortable during an otherwise difficult period. With bond financing, you can enjoy the following financial and legal benefits:

  • Confidentiality — Your Riverside bail bond agency knows the importance of client-company confidentiality. They will manage your situation discreetly and honestly. Your loved one or friend will be released from jail through bail at your discretion. No other party will be aware of the bail contract you signed to obtain their release.
  • Saves money — With financing, you do not have to pay the entire bail bond premium at once. Upon satisfying the bail bond agency’s requirement, the agency will post your bail amount immediately, enabling you to save money and secure your loved one’s release simultaneously.
  • Avoid the liquidation of your assets — Posting a cash bail might come with complicated financial decisions, like selling your assets. Additionally, the court might require you to prove your finances’ source, especially if it is linked to a felonious transaction. The investigation could delay your loved one’s release.

Various Bail Bond Financing Options

Most experienced Riverside bail bondsmen understand that life must continue, and you must eat, educate your children, and seek legal representation. Therefore, they offer different types of payment options. They can partner with you to determine pocket-friendly financing options and assist you in getting released from custody while you figure out how to pay the bail bond premium.

Here are the most common bail bond financing options:

  1. Paying Bail With a Credit Card

Some California jails accept bail payments using credit cards. Nevertheless, the bail amount needed to post bail is mostly too expensive. A more pocket-friendly way to post bail for someone is to secure the services of a bond agent.

Most bail bondsmen understand that financial struggles are common and do not want you to remain in jail because you cannot afford your bail bond. They accept various major credit cards, including the following:

  • Mastercard.
  • American Express.
  • Discover.
  • Visa.
  • PayPal.
  1. Zero Percent Bonds

Most bonding companies today talk about zero-percent bail bonds. It would be interesting to imagine leaving jail free of charge. However, if law enforcers have to release you, it will cost a person some money.

Zero-percent or no money down bonds refer to an agreement where a bail bond agency does not require an upfront down payment.

Due to the substantial financial risk, your Riverside bail bonds agency will require you to offer collateral. They will hold the collateral to guarantee you meet your contractual responsibilities. The asset’s value should be or exceed the bail bond amount they posted for you.

Typical examples of collateral include cars, homes, bonds, and stocks. If you offer a vast asset like your motor vehicle or home, you should place the property’s deed with your bondsman’s trust. Generally, bail bondsmen take physical possession of tinier properties like jewelry and keep them until the defendant pays the premium.

Qualifying for Zero-Percent Bail Bond Financing

To be eligible for no money-down bonds, you should satisfy the following:

  1. Good credit rating — A good credit score proves to the bond agent that you are financially responsible and credible enough to meet your repayment obligations.
  2. Collateral — Possessing valuable assets like homes, cars, or jewelry also helps you with leverage.
  3. Employment status — Proving you have a consistent work history shows your source of income is dependable and steady. Consequently, you can make the needed repayments on your bond.
  4. Previous compliance — Complying with your past legal issues is a positive sign of your dependability in fulfilling bail terms and conditions.
  5. You reside in the state — Strong ties with your local community show you are less likely to flee the jurisdiction.
  6. Reliable cosigner — Ensure your co-signer has a good credit rating and stable job history. An indemnitor guarantees you will appear in court when required and abide by your release conditions. If you jump bail, your co-signer will be financially accountable for the entire bail amount.
  1. Paying Your Riverside Bail Bonds in Installments

If you cannot afford the required premium, you can negotiate with your bonding company to pay part of it upfront as a down payment and then clear the outstanding amount as agreed with your bonding agent.

There are numerous options, depending on your ability to pay. They can include 8%, 7%, and 1%.

Many factors determine your down payment. First, your set bail amount has the most significant impact; the larger your bail, the larger the down payment required. Other factors include your credit score, employment status, and living conditions. If you have a poor credit score, you can use a loved one with a good score. Ensure you choose a responsible co-signer.

The larger your down payment, the higher your chances of securing a cost-effective payment plan. Please note that your outstanding balance can be subject to interest rates according to your Riverside bail bonds agent’s discretion, and you will pay more for your bail bond over time.

Paying bail using installments is identical to a loan, and you should determine the amount you can afford to pay monthly. That way, you will avoid skipping repayment and losing your collateral. Other implications of failing to make your payment include the following:

  • Your bonding company can revoke your bond, which could result in your arrest and return to jail.
  • Negative impact on your credit score.

Navigating Your Bail Bond Installment Payments

First, you should understand the terms of your agreement when engaging the services of a bondman. Ensure you understand the payment schedules, additional charges, and fees.

Second, make timely payments to ensure your freedom and maintain your legal and financial standing.

Finally, if you face challenges paying your installments as agreed upon, communicate with your bonding company. They are humans and can understand your situation.

  1. Paying Your Bail Bonds with Bitcoins

Bitcoin is the most valuable and popular cryptocurrency type on the world market today. The Bitcoin virtual currency is not under government control or supervised by a particular economic regulator. It makes it an in-demand financial solution for most people, from speculative financial investors to companies.

Making payments with bitcoins is rapidly becoming popular with many companies, including bail bond agencies, making payments for goods and services more cost-effective and accessible. You do not have to worry about the current exchange rates if you have Bitcoin. It is also different from making payments using a credit card; credit cards have a fixed fee for every transaction.

Another appealing benefit of Bitcoin is that it is very secure. It operates on blockchain technology that people cannot use to engage in criminal activities.

How Bitcoin Payments Work

Bitcoin payments have fewer limitations on their usage because the currency is virtual. As mentioned earlier, the Bitcoin mode of payment operates independently of any company or government support. Therefore, you can pay for your service through bitcoin from anywhere in the world. All you need to do is use a smartphone or computer or instruct another trusted individual to perform the Bitcoin transactions for you promptly.

A completed Bitcoin payment is initiated with a distinctive internet address identical to an email address and is used once in payment. No identification is needed when paying for goods or services with Bitcoin, including making bail payments.

Upon completing your Bitcoin payment, your bondsman’s support team should offer the required assistance, including sending a person to the court to post the bail, ensuring efficiency.

  1. You Can Take Advantage of Discounts

Most Riverside bail bondsmen offer discounts on the bond’s price. However, the discount is only available to individuals who meet any of the following requirements:

  • A homeowner.
  • A member of the American Association of Retired Persons (AARP).
  • A union member like teachers, nurses, construction workers, government employees, and auto workers.
  • Have a private criminal defense lawyer (your bondsman wants you to be able to afford legal representation).

Contact a Responsive Bail Bonding Agency Near Me

When you are booked and charged with a crime, the judge will set your bail amount depending on factors like your criminal history and the severity of the charges. Bail is expensive, and the required amount can exceed what you can afford. That is where Fausto Bail Bonds can help you. However, there are instances when even the 10 percent premium is too costly for you or your family to raise comfortably. Under these circumstances, our compassionate Riverside bail bondsmen can help you develop an affordable, flexible payment plan. We can also address your concerns to ensure you understand your agreement terms.

Please contact us at 855-328-7867 to learn how we can help you secure your release promptly, allowing you to return to your everyday life.