Bailbonds Grand Rapids Companies To Know
| 09:24:00 |
Few things are more shocking than getting a phone call in the middle of the night letting you know that a family member has been arrested and needs your help to get out of jail. No one plans on having to help someone with bail, and this is especially true when it comes to financial matters. Depending on the reason for the arrest, bailbonds grand rapids can be expensive and require a significant amount of money up front.
Licensed bail agents, who have taken a specialty in underwriting and issuing must issue these bonds. But the agents can only be the chosen reps of licensed surety insurance firms. It is important to deal only with a licensed bail bondsman employed with a licensed company. Please ensure that the agent's license and state identification are checked before committing to any agreement with the agent or the company the agent represents.
Surety is a type of insurance that the courts allow to take the place of actual cash. The definition of SURETY is someone who assumes liability for someone else regarding the performance of an undertaking, for instance, there coming to court or the payment of debt. A surety can be posted in states that accept Surety Bonds.
The bondsmen will need to talk to a loved one of the defendant whom will be the defendants "co-signer" This person will be in the most contact with the bail bondsmen. The co-signer will need to pay the bail company a percentage of the face amount of the bond (usually 10%) this percentage is set by the state. The co-signer will also need to sign a contract/promissory note promising to pay the full amount if the defendant does not show up to their court date(s).
If you are working with a bondsman and want to use collateral instead of cash, it will be up to the bondsman to determine what is acceptable as collateral. As a general rule, the bondsman will prefer to receive something that has a value that is at least 150 percent of the total value of the bond. This reason for this is that if a person skips bail, the bondsman needs to be able to sell the item put up as collateral to cover his lost bond and also cover his time and effort in selling the collateral item.
In most parts of the US, bail bonds can be procured 24X7. When someone gets released on furnishing a bond of the required amount, they can be expected to take better care of their family, and also prepare better for the forthcoming court dates. Moreover, bail bonds prove helpful in reducing the number of people in jails, and thus the expense of maintaining jails and feeding the prisoners.
In these cases, the bondsman will ask you to place the pink slip or deed in their trust. This doesn't give them ownership but allows them to gain ownership of the item if the bond agreement is broken. Smaller items such as jewelry, art or collectibles can also be used as collateral; in these cases, the bondsman may ask to physically keep the item until the relevant court case concludes.
Once the bond is posted and the defendant is released, they will need to complete the same paperwork the co-signer did. The bondsmen will also discuss the conditions of the bond. The court will set their conditions and so will the bail bonds company, make sure the defendant is aware. Not being aware is no excuse the court will still expect the defendant to abide by the conditions.
Licensed bail agents, who have taken a specialty in underwriting and issuing must issue these bonds. But the agents can only be the chosen reps of licensed surety insurance firms. It is important to deal only with a licensed bail bondsman employed with a licensed company. Please ensure that the agent's license and state identification are checked before committing to any agreement with the agent or the company the agent represents.
Surety is a type of insurance that the courts allow to take the place of actual cash. The definition of SURETY is someone who assumes liability for someone else regarding the performance of an undertaking, for instance, there coming to court or the payment of debt. A surety can be posted in states that accept Surety Bonds.
The bondsmen will need to talk to a loved one of the defendant whom will be the defendants "co-signer" This person will be in the most contact with the bail bondsmen. The co-signer will need to pay the bail company a percentage of the face amount of the bond (usually 10%) this percentage is set by the state. The co-signer will also need to sign a contract/promissory note promising to pay the full amount if the defendant does not show up to their court date(s).
If you are working with a bondsman and want to use collateral instead of cash, it will be up to the bondsman to determine what is acceptable as collateral. As a general rule, the bondsman will prefer to receive something that has a value that is at least 150 percent of the total value of the bond. This reason for this is that if a person skips bail, the bondsman needs to be able to sell the item put up as collateral to cover his lost bond and also cover his time and effort in selling the collateral item.
In most parts of the US, bail bonds can be procured 24X7. When someone gets released on furnishing a bond of the required amount, they can be expected to take better care of their family, and also prepare better for the forthcoming court dates. Moreover, bail bonds prove helpful in reducing the number of people in jails, and thus the expense of maintaining jails and feeding the prisoners.
In these cases, the bondsman will ask you to place the pink slip or deed in their trust. This doesn't give them ownership but allows them to gain ownership of the item if the bond agreement is broken. Smaller items such as jewelry, art or collectibles can also be used as collateral; in these cases, the bondsman may ask to physically keep the item until the relevant court case concludes.
Once the bond is posted and the defendant is released, they will need to complete the same paperwork the co-signer did. The bondsmen will also discuss the conditions of the bond. The court will set their conditions and so will the bail bonds company, make sure the defendant is aware. Not being aware is no excuse the court will still expect the defendant to abide by the conditions.
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You can find a list of the reasons why you should take out bailbonds Grand Rapids companies offer at http://www.bigbrotherbonds.com/about-us.html right now.
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