If a friend or family member ever finds themselves behind bars, chances are they are going to get one phone call. If they choose to give you a call, you may be overwhelmed. You might be thinking to yourself that you’ve never done this before; how are your going to bail someone out of jail? This is where bail bonds come into play. Continue reading to quickly learn how you can help out a friend or family member in need.
The first thing you are going to need is money. In order to get someone out of jail, you are going to need to pay the cost of the premium. For instance, the premium on a bail set at $10,000 is going to be $1,000. This premium can be paid in a number of different ways. Cash and credit are accepted at most locations. If you find yourself short on cash, you may be able to finance the premium.
Next, you are going to need to complete some paperwork. You will need to fill out and sign the bail bond application. This form contains a large number of banks. As the Indemnitor (the individual trying to get someone out of jail), you will need to provide your social security number, driver’s license number, address, phone number and more. The defendant (the individual who was arrested) will require additional information. This information includes contact information, three references, multiple family member references, place of employment and more. It is important to get as much information on the defendant as possible. As the Indemnitor, you may be required to pay the entire cost of bail if the defendant skips bail.
Collateral may be required. If the cost of the bail bond is less than $10,000, you may not need to provide collateral; unless you are unemployed, have poor credit or have a lot of debts. If more money is required to get your friend or family member out of jail, collateral will likely be needed. An example of collateral may be a piece of property that has more equity than the total amount required to get your friend out of jail. An example of bad collateral would be an old vehicle. Chances are there is not going to be enough equity in a car that you’ve had for many years.
If you have good credit, it is going to be easier to help your friend or family member out. Good credit will help you to move more quickly through the process of obtaining bail bonds and have the defendant out of jail quickly.
Receiving a phone call from a prison or police station can be a scary thing; especially for someone who is very unfamiliar with the legal system. In order to be a helpful indemnity, it is best to remain calm so that the process goes smoothly. Before heading to the prison, be sure to have all the necessary information with you. This will help make the process of securing bail bonds much easier.
Those in need of bail bonds in New Jersey visit Lucky 7 Bail Bonds. Learn more at http://www.lucky7bail.com/coverage.
Article Source: http://EzineArticles.com/expert/Abraham_Avotina/663190