When trying to bail someone out of jail, it is important to know how much it will cost to get a bail bond. It would be hard to get the money together without actually knowing how much is needed. This is why one of the most popular questions we get is: How much money do I need today?
Unfortunately, this question can be difficult to answer without having any of the details. Bail bonds cost 10% of the bail they are for, so that will give you the base price. However, some people may qualify for a discount, which will reduce the cost. Plus, everybody’s payment plan is different and designed to work with their budget. That alone can drastically change how much a person will need that day to bail someone out.
In Knoxville, bail bonds cost 10% of the bail they are based on. This means, if the bail is set at $20,000, the bail bond will cost $2,000. Some clients are able to qualify for a 20% discount on the price of the bail. This would reduce the cost of the bail bond from before, down to $1,600.
That number may be scary, but it gets reduced even further due to customized payment plans. This will help reduce the upfront cost of the bail bond. This means that a person will need less money right away.
Another way to lower the initial cost of the bail bond is to have plenty of strong co-signers. Co-signers are people who are willing to sign for their loved one’s release. They will be the ones making sure payments are made, and court dates are properly handled. The strength of a co-signer is determined by his or her employment status, ties to the community, and credit score. The stronger the co-signers for the bail bond, the lower the initial payment will be.
It is easy to see how difficult it can be to give someone an estimate on bail bond prices when no information is available. There are several varying factors that go into determining what the initial payment of a bail bond will cost. To learn more, simply talk to a bail agent from All American Bail Bonds for free.