Surety bonds are among the most popular bail bonds. Surprisingly, most people prefer surety bail bonds over cash bonds. As you know, cash bonds are straightforward but require you to pay the entire amount to the courts. In the case of surety bail bonds, you'll pay a certain percentage of the money to a bondsman. That's the main reason people prefer it. So, read on to explore the perks of surety bail bonds.
Costs Less Than Cash Bonds
Financially stable people may choose to cash bonds because they can quickly raise the cash. But if you can't raise the money upfront, you can opt for surety bonds. The latter option costs only 10% of the bail amount. As such, you only need to raise 10% of the bond amount for you to be released. Once you give the 10% to a surety bail bondsman, they will pay the rest to the court.
Your Money Will Always Be Available
You might have enough money to pay a cash bond, but there are many downsides if you take that option. Remember, the court will hold the funds until the case is concluded. Unfortunately, cases can take months or years. So, your money will be unavailable until the case is finished.
You can imagine the financial turmoil your family will experience during this period. With that in mind, consider opting for surety bail bonds to free up your money. At least you can continue to run your businesses and take care of your family as the case goes on.
Get Released Faster
Raising the money to pay cash bonds can be hectic. Some people will have to take loans or sell some of their assets to raise money. Unfortunately, all that can take weeks, and you'll be in jail for the entire period.
On the other hand, surety bail bonds can help you get released faster. You'll only need to raise 10% of the total amount or provide collateral to secure your release. At least, it's much easier to raise money for surety bail bonds than for cash bonds. Therefore, you can expect to be free in a matter of hours or days at most.
Pay Deductions At Your Own Pace
Choosing surety bail bonds gives you control over all the fees accrued during your case hearing. The court won't automatically deduct the accrued costs because they don't have your money. Therefore, you'll have to pay the costs in installments. Unfortunately, those who choose cash bonds don't get refunded in full because the court will automatically deduct the fines and fees from the amount.
For more information, contact a company such as Albert Ramirez Bail Bonds.
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