When you are charged with a crime, the judge can decide to set bail for you. This is an amount that needs to be paid so that you can get out of jail and wait for your criminal case to begin. If you cannot pay this bail amount, you have to sit in jail until your trial date comes around. Another course of action is paying for bail bonds. These allow you to get out of jail for a fraction of the cost of your original bail amount. Your Bergen County, New Jersey criminal defense lawyer can tell you more about this option.
How Much Do You Have to Pay for Bail Bonds?
Bail bonds allow you to get out of jail for less money, but there is a big catch. You have to put up collateral to cover the rest of the bail amount. Then the bail bondsman and the company they work for can charge you some fees on top of that.
So if your bail was set at $75,000 and the bail bondsman charged you 10 percent, you have to pay $7,500. Then you have to pay whatever fee the bondsman charges. Then you have to have property or assets that are worth the remaining $67,500.
What Can Be Used as Collateral for a Bail Bond?
Many types of property and assets can be used as collateral after bail bonds have been secured. Popular options include:
- Stocks and bonds
- Houses and deeds to real estate
Some companies even allow you to just put a charge on a credit card, if you have a big enough line of credit. Once bail bonds have been purchased and collateral has been offered up, you can get out of jail.
What Happens if I Do Not Show Up for Court?
You definitely want to make sure that you show up for your next court dates. Missing any of your required dates could affect your bail agreement. If the bail bondsman cannot get their money back because you screw up, they will be just fine. They will take the collateral you gave them and sell it off. You will not get your property or money back.
Do You Get Money Back if You Pay for Bail Bonds and Get Acquitted?
If you appear in court, do you get your money back? Unfortunately, that is not how it works when you use bail bonds. You do get any collateral back from the bail bondsman though.
Talk to Our Legal Team Today
If you are facing criminal charges, contact the Law Office of E. Gregory M. Cannarozzi and schedule a consultation. We can tell you more about what an experienced criminal defense attorney can do for you. That includes arguing for you at hearings and trying to push for a lower bail amount.