What Is An Unsecured Bail Bond And How Does It Work?
You’re not sure what the difference between secured and unsecured bail bonds is. A bail bond is a financial guarantee that you will show up for your court date, and if not, the bail agent can use the money to pay off the court.
Unsecured bail bonds are an alternative to paying a high fee upfront for a secured bond. With an unsecured bond, you only have to put down 10% of the total amount of your bail to be released from jail while waiting for trial. This means that if you’re arrested on suspicion of driving under the influence (DUI), but don’t have enough cash or collateral available at the time of arrest, then this option may be right for you!
Signing a written promise to pay a bail agent a certain amount of money if you don’t show up for court will allow you to get out of jail. If you’re picked up on another warrant, the bail agent cannot use the same collateral twice. In other words, they can’t collect your car or house twice.
For example, if you have a $100,000 bond and the agent agrees to write an unsecured bond for 10% down, then you would pay $10,000 to get out of jail. If the agent writes a secured bail bond on your behalf, then they can use that same collateral to secure a second bail if needed. An advantage of having an unsecured bail bond is that you can pay the agent whenever you want.
Secured Bail Bond
A secured bail bond is one where the bail agent has the right to take collateral from you if you don’t make your court date. The agent can use it against your debt towards them, should they have to go out of pocket for any reason. In other words, the 10% down payment is insured by a cash bond or financial guarantee that is held in trust by a third party.
If you fail to show up for court, a bail agent can use the collateral to pay off your debt and any added fees incurred in the early payment process. If there’s enough money left over after all of this, then they’ll refund it to you. Be sure that an unsecured bond might be a better option for you if you have a hard time coming up with collateral or can’t afford to pay high fees upfront.
The Unsecured Bail Bond
An unsecured bail bond is best for someone who doesn’t own property or anything of value. The agent is only paid when you show up to your court date. Otherwise, they don’t get any money back for their efforts on your behalf.
How Does Unsecured Bail Work?
An unsecured bond works like this: You pay the bail bond company 10% of your total bail amount to be released from jail. If you fail to show up for court, then the agent can use that money towards your debt or they’ll lose it altogether. The remainder of the original bond (90% of the total amount) is refunded back to you after all fees are paid.
Call us 24 hours a day, 7 days a week at 602-626-5214 to learn more about the various options in bail bonds.