Have you ever heard about the story of a man who committed a crime and preferred to be in jail, not knowing that the bail was only less than $5? That is indeed an unfortunate story. Things could have been better if the man had inquired more about the bail. The story implies the lack of understanding about what bail is and how it works. As a result, people are often trapped in the scheme without having a chance to defend themselves, although what they do are only minor infractions.
You can consider the man in the story lucky since the amount is quite small. However, other cases happen to be bad luck as they need to pay quite a significant amount of money to be free. It is when bail bond agency comes to give solutions. It is an agency that lends money for those who need to pay the bail to get someone out of jail. If you ever need the service, below are what you need to know about the agency.
It Is Not Available in Every State
Different areas have different regulations about the matter. Some states allow and legalize the practice while some other states restrict the presence of a bail bond agency. One reason for the condition is that the agency belongs to the category of private financial practice that is sometimes considered a dishonor to the law system. Despite its illegal status in some countries, the agency still proves to be a big help for those who need the money when people they know face criminal charges. The United States and the Philippines are two countries where commercial agencies are available, implying different contexts.
It Is Not Always Needed
Again, different regions may have different rules about the matter. In some countries that legalize the lending practice, the bail is not always needed. However, it depends on the scale of crime that one commits. Misdemeanors, tickets, and other types of small infractions may not require the money. In some cases, promises to avoid the same crime and to attend the court when needed are enough to release all charges.
Just like any other types of lending practice, collateral still becomes the primary concern. Fortunately, the agency often takes collateral in the form of real estate, jewelry, vehicles, and other assets. The option is quite helpful when you cannot pay the money back to the agency.