Understanding Loan Terms

Understanding Loan Terms

To Bond Or Let Wait? What To Know When Someone Is Behind Bars

Stanley Simmons

If you are trying to get someone out of jail and you aren't sure how to start the process, you first have to make bail. This is a set amount of money that will be required to get them out, and then they will have to show back up in court on the day that they are assigned to be there. If you aren't sure what the best method is to get the money to get the person out, here are some of the options that you can try and explore to get the funds.

Bondsman Options with Their Credit

A bail bondsman is someone that will put up the money for bail with 10 percent or a set amount of money down, and then they are paid back with interest. If the person who is sitting in jail has decent credit and a job, then they can work with the bondsman to set their own bail, and to pay for them to get out and you won't have to do anything. If they can't, you need to find someone else who can get approved.

Surety Bond

A surety bond is an agreement that involves three different parties. If you want to work with the bondsman and use your own credit to get the person out of jail, and the bondsman agrees, you will have an agreement with the bondsman and the person that is in jail. Talk with the bondsman about surety options, or possibly a lawyer to draw up a contract to make sure that you get your money bac if you put up your own money for the bail.

The Jailbird Waits

Another option is to have the jailbird wait until their arraignment to see what they get. If they only get a few days jail time and have already served it, there may be no need for you to spend your money or agree to a bond to bail them out. If they are free to leave after a couple of days, there is no point in wasting the money or paying the interest or legal fees to do a bond.

When someone that you love has gone to jail you are in a hurry to get them out and to get them back home. If you are looking for options to get someone close to you out of jail, consider all three of these things first.


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Understanding Loan Terms

When was the last time you realized you were in the red financially? Although most people don't think about their finances on a day to day basis, it can be easy to find yourself living paycheck to paycheck if you aren't careful. I began thinking carefully about the financial implications of some life decisions I was making, and I knew I had to make a difference. I talked with a loan officer about getting things together, and he was instrumental in helping me to work things out. Read more about my financial successes and failures on this little website. You might be able to avoid some of my previous mistakes.