Every day, tens of thousands of Americans are arrested and subsequently thrown in jail. We’re all familiar with the idea of accused criminals being innocent until proven guilty, though courts require defendants to loan them money to be released before trial – kind of contradictory. Bail bonding services in Johnson County, KS, help get people out of jail.
Can Bail Bonds Affect Credit?
Although seemingly everything affects credit scores, bail bonding doesn’t have anything to do with credit. Unlike other loans, which can have wildly-ranging interest rates, the premium on bail bonds throughout the Sunflower State is capped at 10%. While various minor fees are tagged along with bail bonds’ premium, they aren’t ever loaned to clients – the cost of bail bonds is paid upfront by clients.
Bail Bonds Are Essentially Loans
Again, unlike loans, you’ll almost always have to pay bail bonds upfront. However, these premiums are forfeited in exchange for the bail bondsman to loan the defendant’s entire bail amount to the presiding court of law for months, if not
years, before getting it back. You’re really paying a fee to co-sign on a fail-proof loan with the court being the borrower.
Bail Bonds Are Regulated
Some people think bail bonding is a shady industry, though this isn’t true. The Kansas Department of Insurance – that’s the same agency that oversees auto, health, and life insurance policies in Kansas – requires bail bondsmen to keep valid licenses in order to practice.
We’re Experts in Bail Bonding
We’re Shane’s Bail Bonds, a top bail bonding service in Johnson County, KS; check us out online for further answers to your questions.