Bail amounts might run into thousands and even millions depending on the amount that a suspect has to pay. These amounts of money can push relatives and friends to the suspect into hefty loans or leave them with financial problems. Funding the freedom of your loved one doesn't mean that you should leave yourself without food on the table. At 24 Hour Online Bail Bond, we offer easy and customized payment plans to all our clients in Los Angeles, Riverside, Orange County, San Diego, and San Bernardino. Please schedule an appointment with us today and let our finance team work with you for the most affordable financing plan.

Payment Options that You Can Choose From

Every bail bond agency offers several payment plans that are flexible according to your financial abilities. Below are several payment plans you can use:

Cash Payment

Generally, if you or your loved one can afford to pay the upfront premium fee in cash, your bail bondsman will require you to pay 10% of the bail amount required for your release. You will receive a receipt to verify your cash payment.

Personal Check

Personal checks are also acceptable in payment for a premium but under the discretion of a bail agent. Sometimes it's more sensible to use a paper check rather than using other means of payment. Here are some of the ways that make checks to be more convenient:

  • Some bail bonds agencies charge an extra fee for credit card payment
  • Some bail bond agencies prefer money or paper check
  • Checks are traceable using the automatic cashier's system or mail tracking systems
  • Checks are less costly than money orders

Ensure that there are enough funds in your account if you prefer to write a personal check. The last thing you would want is to have the bail bond agency delay the payment process or fail to pay the bail if your check bounces back.

Debit or Credit Card

The use of debit and credit cards offers another convenient way to make payments to a bail bond agency. Debit and credit cards are different, despite being identical. A financing institution issues a credit card that can borrow funds from it and pay the money back with interest according to the institution's terms and conditions.

On the other hand, a debit card is a payment card that you can make payments directly from your checking account rather than securing a loan from the bank. A debit card offers convenience and protection to your payment, especially if the protection is issued by a major payment process like MasterCard and Visa.

Before you decide to pay the premium fee using these means, you should confirm whether they accept them with the bail bonds agency. You can make your payment without even leaving your home, making it the most convenient option that guarantees a quick jail release. 

Money Order

A money order is much like a check. However, payments made through a money order are guaranteed and can't bounce in the case of a personal check. It holds an upper hand over a personal check since payments are made out of a debit card, meaning that most probably there's enough cash in the payer's account. Apart from that, you must provide the names of the payer and the recipient, making it safer than cash or other digital payment forms.

If you want guaranteed payment, a money order offers a low-cost option that's widely available in all our locations. 

Wire Transfer

Wire transfers are the most convenient and safest payment means when the payer is residing in another state. It can also be convenient if your friend or relative is living abroad.

To initiate a wire transfer, contact your bank. They will ask you certain details about where the money wants to be sent. This includes:

  • The bank account you want the money to come from
  • The recipient's name
  • The recipient's bank account number
  • The recipient's address or Zip Code
  • The name of the bank where your local bank will send the money
  • The bank's ABA routing number

Domestic wire transfers (those made within the United States) will often leave your account and arrive on the same day. This payment method offers a safe way to send money since it lacks anonymity when banking. This makes it harder to pull off a scam with a bank wire transfer than other payment methods. 

PayPal, Apple Pay, Google Pay, and other Online Payment Systems

Almost everything, including payments, is quickly going online. Most online payment methods like PayPal, Google Pay, and Apple Pay have been proven reliable, especially with their wide preference. However, you must be cautious with them to ensure maximum security. This depends on the particular online payment used by your bail bond company. Some of the measures you can take are as follows:

  • Confirming whether the bail bond company is registered with the bank. Your friend or relative will most probably keep in touch with the bail bond agency, which offers a better way to determine whether it's registered with a bank.
  • Checking the physical address and other details of the agency that you'll be making payments to.

Most online payment systems offer a dispute and fraud protection program that reimburses you whenever you make a false payment. Therefore, you can reverse the amount you've paid if the agency fails to deliver what was promised.

Use of Cryptocurrencies

The use of cryptocurrencies like Bitcoin, Ethereum, and Litecoin has gained popularity in business transactions. However, the legal system has not yet accepted this form of payment due to the volatile nature of cryptocurrencies and cannot be made as direct payments to the court. However, you can still transfer your cryptocurrency to a bail bonds company rather than trying to convert the money to something that the court accepts.

The bail bond agency will accept the cryptocurrency and pay the bail amount to the court as required. All you have to do is ensure that the value of the cryptocurrency matches the premium amount that you have to pay to the agency.

Whole Life Insurance Policies

Some bail bond agencies accept pledges made against Trust Accounts as payments to bail bond releases. If you have a whole life insurance policy, you can take a loan against the policy to raise the required amount. Your financing source comes from a savings component of your policy, referred to as cash value.

As you continue to pay your premium, the cash value increases and can give you an option to withdraw funds or borrow against it. Before you decide to use this means to pay for your bail bond release, seek advice from your insurance company for guidelines. This will protect you from inadvertently reducing your policy's death benefit or creating a tax burden. 

Stocks and Bond Pledges

You can pledge your stock and bonds as a means of paying your bail. All you need is to have the bonding company qualify the assets with pledges and signatures. The bail bond company can release you from custody even before the funds have been generated.

Promissory Notes

 A promissory note is a financial instrument containing a written promise by one party to pay another. The note includes the definite sum of money supposed to be paid to the bail bonds agency, interest rates, maturity date, place of issuance, and issuer's signature.

Cash Advances

A cash advance is a short-term loan that’s offered by a credit card issuer. A cash advance allows you to borrow money against your credit card. You can receive a cash advance to pay your bail premium in the following ways:

  • Using your ATM. If you have your credit card's ATM PIN, you receive a cash advance through an ATM. If you don't have one, ask your credit card issuer to offer one. Please note, it takes several days to secure a PIN. Therefore, it can limit your attempts to secure a quick release for your loved one.
  • In-Person. You can visit your local bank and ask for a cash advance using your credit card
  • Convenience Check. Your credit card can be used as a convenience check. You only need to write a check to yourself then cash it or deposit it to the bail bonds agency's account.

Income Tax Returns

If you have a large sum of money from your income tax returns, it would be a good idea to use it to release a loved one from police custody.

Car Title Loan

You can use a car title loan if you have a low credit score or sparse credit history that makes you eligible for a regular bank loan. A title loan is a short-term, high-interest loan that requires your car as collateral when borrowing money. There is a risk of having your car repossessed if you don't repay the loan on time. Therefore, you must have reliable repayment plans to reduce the possibility of having your car repossessed. Some bail bond agencies will allow you to keep your vehicle rather than exchanging it for a loan.

Payday Loans

A payday loan is a short-term loan that is repayable in the next paycheck. It can be a suitable financial solution to finance a bail release. A payday loan usually has a small loan limit that's up to $500 and doesn't require a credit check. Typically, it lasts between two to four weeks after taking the loan to repay the amount.

As a precaution, confirm the interest rate of the amount supposed to repay the loan to minimize the risks that come with it. 

A Combination of Payment Plans

If your bail extends to a lot of money, securing a bail bond might require a combination of payment plans. You should contact your bail bonds agency to learn about the ratios you should meet using this payment plan. 

Payment Plans that You Can Choose From

Your family or friend can sometimes have difficulties paying the bail bond premium despite having several payment options to choose from. This should not deter you from seeking help. A reliable bail bonds company can set up a financing plan that would help you pay the full premium based on your financial capabilities. Some of the financing plans that you can choose from are as follows:

Down Payment

A defendant can't gather the 10% required to be paid to the bail bondsman in some instances. In this case, you might need to negotiate with the bail bonds company for a down payment, a smaller percentage of the standard 10%, and then pay up the remaining amount later.

For instance, if your court schedules a $10,000 bail, you need to pay $1,000 to the bondsman. However, if you cannot pay the $1,000, you may negotiate to pay $500 upfront and clear the remaining amount within an agreed timeline.

Installment Payment

An installment payment plan allows you to purchase a bail bond in installment if you can't afford to pay the bail bond fully.  You will be required to pay an upfront amount and have the rest paid in installments. The larger the down payment you can raise, the better are the chances of securing reasonable payment plans.

Zero or Minimal Down Payment Plan

There are bail bonds companies that can create a payment plan with a zero upfront payment. This means that your loved one will be released from jail without paying a single penny in the beginning. Instead, the bail bondsman will divide the payment into affordable monthly options that you can pay as time goes by. This financing option will allow you to put your finances in order and figure out the best approach in the coming months.

Use of Low Bail Bond Rates

Regardless of the payment option that you pick, you must be careful with rates that go through the roof. Take extra time researching for a bail bond company with the lowest rates. Your bail bondsman should offer quality services despite their low interest rates.

Qualification Requirements for Bail Bonds Financing

Every bail bond company has its deciding factors in qualifying as a co-sign for bail. It's recommendable to learn about these requirements to determine whether you're eligible to secure your loved one's freedom or not. Below are common qualification requirements for co-signing a bail bond.

A Sound Credit History

Similar to applying for a loan, a credit history of a co-signer is essential. Good credit history is an indicator that you have been doing business and you're capable of respecting and honoring your payment agreement. The better your credit history, the easier it is for a bail bond company to trust you.

A Good Job History

The job history of a co-signer is something that bail bond companies take into consideration. A co-signer who has held a steady job for a long period is assumed to be financially responsible for the defendant's actions after posting bail. It also means that the co-signer will make necessary payments if the defendant cannot do so.

Any co-signer should be mindful of the responsibilities they assume once they agree to be part of a bail bond payment plan. They are held financially responsible for the bail bond fee once they agree to co-sign for a bond. You should not take this agreement lightly since the bail bondsman expects it to be respected. 

Responsible

The main thing to look for in a co-signer is reliability. If you're trustworthy, it makes it very easy for the bail bonds company to trust you and work out to release your loved one from jail as soon as possible.

No Arrest History

Having no arrest history can be an additional eligibility requirement, depending on the bail bondsman you're working with. This shows that the co-signer is responsible and has a high possibility of cooperating with the bail bondsman in the entire process.

Some companies might set additional eligibility criteria, which typically includes the following:

  • The co-signer must be at least 21 years old.
  • Must be employed at the same place for at least a year.
  • Must have an open checking account.
  • They must have a salary that provides at least $2000 a month.

What to Do If You Can't Repay Your Bail Bonds

The repayment process of your bail bond premium is crucial. However, failing to meet the repayment deadlines may have the bail revoked and your loved one sent to jail before the trial date. This might happen when the bondsman believes that there is a possibility of the defendant attempting to evade going to trial.

If you're truly struggling with repayment, you should let the bondsman know about this as early as possible. This provides an opportunity to negotiate a reduced monthly installment or a lower interest rate. The easiest way to prevent further difficulties is to discuss with your bail bond agent and see what options they may have to accommodate your financial situation. 

Find a Reliable Bail Bonds Company Near Me

During tough times, an arrest can be a burden, and many people cannot handle it. However, the availability of a financial plan can help you ease this difficulty and make bail payments as easy as possible. Bail bond payment plans are crucial services that bail bond agents use to help in difficult financial situations.

At 24 Hour Online Bail Bonds, we offer different payment and financing options that suit our clients in Los Angeles, Orange County, Riverside, San Bernardino, and San Diego. Contact us anytime at 800-930-8999 for the most flexible and affordable payment options.