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byAlma Abell
Most people don’t understand all the services and assistance that a bail bonds company in New York can provide when a person has been arrested. First, it is important to realize that a bail bonds company is not affiliated with law enforcement but is also not providing legal advice as you will get from an attorney.
Instead, a bail bonds company in New York is there to provide a very specific niche service. They will be able to assist you in posting body so that you can be released as quickly as possible. Understanding how the local police and court system works is critical to getting out of jail so you can get the help that you need.
How It Works
Most people, until they have been arrested, don’t stop to think about how a bail bond really works. What it is, in essence, is an insurance policy to the court that the person arrested for the crime will appear in court on a specified day.
The bail bonds company in New York will have a bond application approved, by the court, for the amount bond. The individual, or a family member or friend, arranges with the bail bond company to provide a percentage of the bond in cash and/or collateral. This percentage is usually about 10% but fees can vary.
What about Collateral?
When it isn’t possible to pay the bond in cash, a bail bondsman and a bonding agency will basically take out a lien, a security, against assets that the arrested individual has up to the value of the bond. Often for high bond amounts a co-signor is required and the same security will be taken against that individual’s property, typically a home, as well.
When the arrested individual shows up for court the security is dropped. In the event that the individual fails to show up the bail bonds company in New York can hire a bounty hunter to track the individual down and bring them to the court. They will also sue the individual and anyone else on the bond for the outstanding fees that the bond company has had to pay.