Having regular day-to-day problems is serious already. Being arrested will even aggravate all of these headaches. If you are not ready to take the bail on yourself, you can always enlist a bail bondsman to pay for your release. The question is, what happens if you fail to pay your bail bondsman?
First, let us define what is a bail bondsman (also known as bail bondsperson, bail bond agent or bond dealer). A bail bondsman is a person—as an individual or an agent of corporations or agencies that act as surety for the defendant. He/she pledges money or, in some cases, property as bail. A contract with a bail bondsman is similar to taking a loan, though the repercussions are much more severe if the accused breaches the contract.
Banks, insurance companies, and financial institutions are the typical entities which deal with this kind of contract. However, they refuse to deal with bail bonds because of the inherent risk, and to be completely honest, not much of a return. Depositors and policyholders will not get excited off the profit from posting bail bonds en masse. However, there are some insurance companies that take on bail bonds but only in traffic-related arrests.
Enlisting a bail bondsman will give the accused two important tasks: appear in the scheduled court dates and pay the bail bondsman of the remaining balance. Usually, to enlist a bail bondsman, the defendant must pay a percentage (10-20%) of the total amount set first. The bail bondsman will pay for the rest. If the accused fails to pay the bail bondsman the remaining amount, it is considered a breach of contract. The accused will be charged with a civil violation.
Bail bondsmen have flexible payment options. They will offer different structure regarding the structure of the contract. It is never a bad practice to always read a contract before signing it, as it may include clauses like the bail bondsman turning you over to authorities instead of negotiating among yourselves. There may be additional terms that are inserted in the contract.
Bond contracts can also be done with a payee. If there are other people who assisted you in making the contract possible, they are part of the contract. One example of this is when a friend or a family member helped enlist a bail bondsman and arrange the contract. Both the defendant and the family member or friend that co-signed to pay for the bail will be liable when the defendant disappears and refuse to attend court dates. If you are thinking of bailing out a friend or a relative and you do not have money for it, do not sacrifice yourself by being third-party in the payment for the bail with the bondsperson. You cannot control another person’s decision-making, so be wary of this kind of sticky situation.
There are civil penalties that arise out of failure in paying bail bondsmen. The bail bondsman may sue the defendant even for late payments. The situation is much more complex if the defendant fails to appear before the court and unable to pay the bail bondsman.