Is A Bail Bond A Loan?

Posted on: 4 February 2021

When a person you know gets arrested, they might call you for help. They will likely want to find a way out of jail, so they might ask you for some assistance. If this ever occurs, you might agree to help them by paying their bond or purchasing a bail bond. One question you might have about this is if a bail bond is a loan? A bail bond is a loan in a sense, but you will need to learn how it works to understand the answer to this question.

First: Understand the Two Options

You have two main options to choose from when you want to help a friend get out of jail right away. First, you can pay a cash bail. The court sets the amount, and the jail tells you how much it is. If you can show up to the jail with the cash, they will release the detainee. You must have all the cash, and it must be in the form of cash.

The second option is to call a bail bond agent. When you choose this option, the bail bond agent pays the cash bail for the release. You pay a fee for the service, but that is it.

Second: Consider the Required Upfront Payment

If you compare the two options, you will see that you will need money for both methods. Paying the cash bail requires paying the full cash bond price. If you choose to hire a bail bond agent, you will pay 10% to 15% of the cash bond price. Therefore, you can get someone out of jail for less money with this method.

Finally: Learn the Consequences of Not Following Through

Finally, you might still be wondering if a bail bond is a loan. If the defendant follows through with the court orders, they will receive the cash bail money back. They will not receive any of the bail bond agent money back, though. Bail only becomes a loan when the defendant bails on the court. If they do not show up for hearings, they will not receive the cash bail back. If they used a bail bond agent, they would owe the full cash bail amount. As a result, it is a loan if the person breaks the rules of bail.

Are you ready to help someone get out of jail? If so, you probably understand the basics of how bail works. If you need the assistance of a bail bond agent, contact one today to get started.


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