Is the Money I Pay For a Bail Refundable?
The short and simple answer is NO. The money you pay for a bail bond is not refundable. However, let me explain why. 2When you get arrested you have two different options. You either remain in jail or your bailout. If you decide to bail out, you can either front the full bail amount money yourself or you can hire a bail bondsman and only pay 10% of the bail amount to secure the release.
Since most people don’t have an average of $20,000 in their bank accounts to use as bail money, or most people do not have a way to access the money in the middle of the night, they opt to go through a bail bondsman instead. When you put up your own bail money, you get that money back at the end of the case, but most people do not want to have such a large amount of money tied up.
When you opt to go with hiring a bail bondsman, the standard rate they charge is 10%of the bail amount. This is the fee you pay to be free and can be seen as the “interest” on the loan because they are lending you the bail bond money to bail out your loved one. For example, if your loved one is being held on a $50,000 bond, you would have to pay 10% of that which is$5,000. The bail bondsmen will put up the $50,000 for you to get your loved one out.
Therefore, the fee you pay a bail bondsmen is not refundable. It is the price you pay to be out of jail or else you can stay in jail. If the money was refundable, then what profit is there for the business to make? It is the equivalent of you asking your car insurance to refund you your annual premium if you did not get into an accident. The money you pay them is the price you pay to be insured and follow the law. So a good piece of advice is not to ignore and ask your bail bonds company for the money back once the case is over with. You will not get your money back and most likely get laughed at.
If you have any questions related to Bail Bonds, feel free to call the Bail Bonds Alhambra CA professionals at 909-721-8204
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