3 Bail Bonds Options To Consider When You’re Running Out Of Options

When you're awaiting trial, staying in jail is never a good option. Being in jail makes it difficult for you to prepare your defense adequately. If you have a job, it can also result in you losing your wages over this period of time.

However, making bail is often a challenge for many people. Bail amounts can be prohibitively high which means you often have to enlist outside help to be able to get out jail. What bail bonds options can you take advantage if you're in this position?

Signature Bonds

A bail bondsman can negotiate a signature bond for you. This is also known as a no collateral bond. As this name suggests, this is a bail bond that you can get without having to put up any collateral. This type of bond is very advantageous since it reduces the financial strain you'll be facing.

However, there are many factors that have to be considered before you can qualify for a signature bond. These include:

  • The length of time you've been living in a particular area

  • The type of charges you're facing

  • Your credit rating

  • Whether or not you have a job

  • Criminal record

Flexible Financing Bail Bond

Depending on how high your bail has been set, you may not be able to clear the premium needed for the bail bond at once. Even if you have the resources to cover these costs, it can still put a serious strain on your finances.

Instead of doing this, you can ask the bonds agency if they also offer flexible financing options for their bonds. If you're unable to afford the whole premium amount at once, this option can be a lifesaver. However, you shouldn't shy from this option if you're worried about putting too much strain on your finances.

Put Up Some Collateral

If you have no way of making the payments needed, check if the agency will be willing to accept something as collateral. Collateral is something valuable that the agency can hold until you make the payments needed for the bond.

There are many things that can be used as collateral including:

  • Vehicles

  • Land

  • Guns

  • Jewelry

Unlike the premium, you will get back the things you put up as collateral as soon as you finish making payments. However, if you're unable to make the payments as per the agreement, you could lose whatever you put up as collateral.