Do Some Bondsmen Charge 5%
Yes, But BEWARE!
We have all seen the advertisements from Bonding companies implying that they only charge 5% to post a bail instead of the standard 10%.
Before I get into that let me make something clear. This article is not about those who take a portion as a down payment and offer financing or credit for the rest. We are talking about the Bonding companies who charge 5% or less… or lead the public to believe they do in order to make the phone.
Let’s say hypothetically that your Honey is in jail and bail has been set at $10,000. You know the normal price is 10% ($1,000) but you have seen or heard of a bondsman claiming they only charge 5%. So you make a phone call or drive around until you see the sign and BAM! For $500 you’re honey is released from jail… for now.
Let’s say that your honey misses court because he thinks it would be cool to star in his Outlaw Movie and live out his Billy the Kid fantasy. Now the Bonding Company stands to lost the entire amount of the bond... you know the one they only charged you 5% to post. Now the Bondsman needs to hire Bail Enforcers (aka Bounty Hunters) to hunt your honey down and return him to custody. Bail Enforcers, being duly licensed in our state are in high demand and are not cheap. In fact they charge the Bonding Company a minimum of 10% of the total bail. BUT WAIT! The Bonding Company only charge 5% in the first place. See where I am going with this?
Obviously it doesn’t make sense for a Bondsman to charge only 5% because they aren’t in business to lose money. So, since our hypothetical bondsman can’t afford to pay a Bail Enforcer to hunt down your Honey after he misses court, the Bondsman MUST make sure he doesn’t miss court. What is the best way to make sure a defendant doesn’t miss court you ask? Well the only sure way is to put your honey back in jail before he has a chance to miss court. Maybe your honey showed up for his first court appearance and was remanded to custody because the Bondsman decided he isn’t worth the risk.
The fact is, many bondsmen post the bond without the intention of seeing it through. They are immediately looking for an opportunity to get the bond exonerated and relieve their liability which usually means someone goes back to jail. In our case, the $500 you paid that seemed like such a bargain… well it’s gone now and your honey is back in jail.
It gets worse. Now you need another bondsman. But once a bondsman recommits a defendant to custody, the defendant automatically looks like a flight risk to other bondsmen. So if funds are tight now that you have already lost $500, you may be stuck with fewer options than before. And if you make the same mistake twice then you ended up paying 10% anyway for a bondsman who wasn’t even worth the 5%. Suddenly, you’re trapped in the revolving door of the jail, aka
“The System.” BTW, you still need to hire an attorney!
At Good Guys Bail Bonds, Inc. We don’t like putting people back in jail. Our brand is integrity, we truly are The Good Guys. We get them out and we keep them out. That’s why we offer financing in certain circumstances and we are always eager to help throughout the entire process.