Different Types of Bail Bonds

Getting yourself or your family member or friend out of custody can be a stressful and difficult process. Fortunately, the bail system can help you get out of custody. However, you need to understand the basics before you try to secure the bond. A lot of people do not know that there are different types of bonds they can use to secure release from jail. It is vital to have all the information you require to make the right decision. These are some types of bail bonds you should know.

Cash Bond

A cash bond is simply what it sounds like. It allows those in jail to get out with a cash payment. Sometimes it can be covered by credit cards or cashier’s checks. In some instances, the corrections department can only accept cash. To use the type of bail, you need to have a large sum of money. The truth is that most people do not have such amounts to cover bail fast. Thus, they ought to turn to the bail bondsman for help they need.

Surety Bond

bail bondsIf you do not have the cash to get yourself out of custody, you need assistance from the bail bondsman. In this case, the common type you are given is a surety bond. It is secured when you pay 10% of the bail amount to the bondsman while promising that you will attend court hearings. When you pay 10% of the bond, the bondsman covers the rest, allowing you to get back home to your family and friends. Usually, bail bond agencies are flexible as they help you to secure your surety bond by providing flexible payment plans that suit your needs.

Property Bond

This type of bond is not accepted in all regions. With a property bond, your full rights to the property are used as the collateral for bail. Although a wide range of properties are used, the common one is real estate. These types of bond are useful when you do not have money at hand to secure bail. However, they take some time to obtain. With surety bonds and cash bonds, you can be released from jail within a few hours. However, a property bond is handled by the court, and an assessment of the property’s value is done.

Personal Recognizance Release

In this case, you are released from custody after agreeing to appear for your court date. Although you are not charged, you will be fined if you fail to appear for the court date.…