Preparing for a Prosperous Future

Understanding The Difference Between Surety And Cash Bail Bonds

If a friend, relative, or even yourself winds up in jail, you'll want to get out of jail as soon as possible. The longer you stay in jail, the longer you miss out on the activities of daily life. Not only will your career suffer, but your relationships with your loved ones may suffer due to your absence. It makes sense to post bond so that you can get out of jail until your trial date and sentencing.

However, you have a couple options when it comes to posting bail: cash bonds and surety bonds. Understanding the difference between the two is essential to making the right decision for your needs.

Cash Bonds

If you post bail in cash, be prepared to pay the entire amount of the bond. Though you eventually get the cash that you pay for the bail back, you won't get it back until your trial date. Remember that the bail is intended to make sure you don't leave town and skip your court date; the court holds your money as collateral to make sure that you show up.

However, few individuals can come up with such large sums of money at a single time. Even fewer can afford to have the money tied up for weeks or months at a time. 

When posting bail for a friend or family member, there is always the possibility that your loved one may get anxious and not show up in court. If this happens, your money is tied up for an even longer period of time.

Surety Bonds

Surety bonds are a terrific alternative to cash bonds for individuals who can't or prefer not to pay the full amount of the bond. With a surety bond, you only have to pay 10 percent of the amount of the bail. The bail bondsman covers the rest of the bail. Should the person you are bailing out decide to leave town, the bail bondsman has to deal with finding the person to get the bail money back.

A bail bondsman does charge a fee for the service. This fee varies from state to state, and you do not get this money back. However, the cost of the fee is usually much less than the amount you may lose due to lost wages or damaged familial relationships. 

You can utilize the services of a bail bondsman at any time of day, making it possible for you or your loved one to get out of jail as quick as possible. It takes time for most individuals to come up with the large sum of money required to pay the bail entirely in cash. Contact a local bond servicing company, like Betty Bail Bonds or a similar location, for more information.