In order to qualify for bail bonds payment plans at 1%, you may have to fill out numerous forms, provide a valid ID and income verification. Most bail bond agencies charge 10% of the bail posted and require signed contracts, but there is an alternative way with Future Bail Bonds. This article will talk about how you or a loved one can qualify for a 1% down payment for a Bail Bond.
What Are Bail Bonds?
Bail bonds are legal documents that hold you accountable to the courts while at the same time allowing you to leave county jail. Bail is intended to enable individuals who have been arrested to leave jail until their court date.
The bond amount will be determined by the judge based on the severity of your crime. If you fail to appear in court, the judge may sentence you and/or forfeit the bail amount paid by your family or friends. You can also be charged with a misdemeanor if you don’t appear for your court date, on top of any other charges your case may be facing.
A bail bond is not the same as a bail deposit, which is when you pay for collateral for your release. However, it does act much like an insurance policy in that if you flee before trial, the bond company will be legally obligated to pay the entire sum of your bail to authorities.
Why Would I Need A Bail Bond?
If the bail amount is too high for you or a close relative to pay yourself, you will need to find other arrangements. When other arrangements are not available, you may need to seek out the professional help of a bail bond company. This will ensure that you do not remain in jail until your court date.
How Do You Qualify for A 1% Down Payment Bail Bond?
There are a few qualifications for a 1% down payment. The following are the criteria that must be met by or possessed by you:
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Legal California Resident
You must be a legal resident of California and have lived at your current residence for at least two months.
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Two Indemnitors with Identification
You must have two “indemnitors” that are at least 18 years of age. These indemnitors, also called co-signers may be family or friends willing to put up their personal and work information as collateral for you. The Indemnitor does not need to know the details of your case, but they do need identification to qualify under this program. Your indemnitors must have proof of employment, residency, approved credit, and a valid California ID.
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Annual Income Twice That Of Total Bail Amount
Your indemnitor’s annual income must be twice the total amount of bail needed. This ensures that they are financially capable of paying the amount if you do not appear in court. This also means that your indemnitors must have proof of income before signing for you. You can find their proof of income by looking at pay stubs or W-2 forms that show both years’ earnings and compare them against the total cost of your bail bond.
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First Time Offenders
Only first-time offenders are eligible for this type of bail bond. If you have already been convicted of a misdemeanor or felony offense, then your family will not be able to aid you with this program. If you have previously been convicted, you must wait a minimum of 5 years before applying for another 1% bail bond down payment.
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Must Make Additional Payment Within 10 Days
A 2% payment of the total bail is due within ten days. The bail must be paid in full over twelve months or less.
If you do not make additional payments towards the balance of the 10% owed to the bail bond company, then your account maybe considered in default of contract. The account will be sent to collections and the bond company may surrender your bond.
What Charges Are Not Approved For 1% Down payment?
As stated above, only first-time offenders are eligible for the 1% down payment. There are also a few charges that are not approved for 1%.
These include:
- Health and safety codes
- Defendant with a prior strike
- Pimping
- Prostitution
- Federal cases
- Immigration bonds
- Receiving stolen property
- Petty theft
- Bond surrenders
- Warrants
- Bonds under 10,000
- Out of state bonds (outside of California)
What Cases Are Typically Approved For 1% Bail Bonds?
To get a better understanding of what cases are typically approved for 1% bail bonds, these are some of the most common charges that are approved:
- Domestic violence
- DUIs
- Dui with accidents
- Child abuse
- Violating court orders
Is It Expensive To Bail Someone Out Of Jail?
It is not expensive to bail someone out of jail with the 1% down payment on a bail bond program offered by Future Bail Bonds. This program allows you to pay only one percent down to be released from custody. If this makes your family feel less anxious, knowing that they don’t have to pay for your entire bail bond amount at once, then it certainly is worth considering.
The bail amount also factors into the expense. If you do not qualify for the 1%, most bail agencies will charge you 10% of the bail. This is because they are required to earn 10% by law in most cases, ask about discounts.
What If I Don’t Have Money To Bail Someone Out Of Jail?
Turn to bail bond agents in your area. They may be able to offer an alternative financing option.
Bail Bonds can go as high as $5,000,000 depending on the charges and the defendant’s criminal record. So you’ll want to make sure you have a reputable bail bondsman in your corner when it comes down to actually bailing someone out of jail.
What Steps Do I Take To Get Approved For A 1% Bail Bond?
After you contact the jail to verify the bail amount, you must talk with your local bail bondsman. Our bail bondsmen will go over all of the necessary information with you and find out if we are able to give you a 1% down payment. The following are some of the steps you need to take.
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Contact Future Bail Bonds
We will work with you every step of the way. Our professional bail bondsman can help you with any questions or concerns that you may have and find out if there is a payment plan available to you. We care about our clients and want them to be prepared and understand all aspects of the 1% down payment before signing anything.
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Submit All Necessary Paperwork
You will need to provide the bail agent with information about your loved one, including their date of birth or age, occupation and contact information. In addition, you may have to sign other forms that are required by law.
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Receive Approval and Accept Terms
After all of the necessary paperwork has been submitted, the 1% down payment is sent to the bail bonds company. Once it is received, your loved one will be released from jail until court proceedings take place. The bail bondsman will then continue to work with you and find a suitable payment plan that will fit into your budget.
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Receive Your Bail Bond
Your loved one will be released from jail and picked up by you once the bail bond is received by the jail and paperwork is completed. This can take anywhere from 30 minutes to a several hours depending on the jail location, and how busy the jail is at the time.
What Will The Monthly Payments Look Like?
The payment terms typically consist of putting 1% down, and then monthly payments to not exceed 12 months. Prices vary depending on the jail location, charges, and method of payment. These terms will be made clear before you sign any paperwork.
Why Choose Future Bail Bonds?
Other than the much lower percentage cost, the best part of the 1% bail bond is that no collateral is needed on most bonds. Of course, the indemnitors are still responsible for payment, and the deposit is non-refundable, but you do not need to put any collateral up to secure the fee.
At Future Bail Bonds, we offer fast, easy payment plans with competitive prices. We understand that the last thing you need is another financial worry during this difficult time, which is why we work with our clients on an individualized payment plan. Our experts will go over all of the necessary information with you to secure your loved one’s release from jail.
Contact us today at 714-515-5154 for more information on the 1% bail bond. Future Bail Bonds is open 24 hours a day, seven days a week, and we can help you quickly begin working to secure your loved one’s release from jail.
Plus, we promise that we will beat anyone’s advertised price. So call us for a free price quote today!