Not having enough money for a bail bond is main problem many people encounter when securing a jail bail bondsman in Lakeland, FL. Fortunately, bond agents accept alternative forms of payment such as collateral. In some instances, collateral may not even be necessary. What is Collateral?Collateral is anything of value that can substitute legal tender or be liquidated to use as legal tender. When you pawn an item for cash, the cash you receive is a collateral-based loan. Bail bonds typically cost about 10 to 15 percent of an entire court-imposed bail amount.
This cost, aka premium, is a bond agent’s nonrefundable fee for services rendered. The premium does not include court filing costs. Most agents accept cash, credit cards and checks as forms of payments. If the payer doesn’t have enough capital on hand, they can use collateral. Common forms of viable bail bond collateral include houses, vehicles with titles, guns, jewelry and high-end electronics. What if There’s No Available Collateral?A select few bond agents offer credit in the form of financing and payment plans.
Applicants must meet certain eligibility requirements, such as a bail bond co-signer, gainful employment or little to no criminal history. With financing and payment plans, the bond agent fronts the cost of the premium, presents the bail bond to the court and secures the defendant’s release. The defendant or a third party then pays down the premium in comfortable installments over an agreed amount of time.
To find out more, contact Zona Long Bail Bonds Bartow at 863-533-0791, a friendly, 24/7 jail bail bondsman in Lakeland, FL, offering flexible bail bonds payment plans.