Okay, raise your hand if you have $10,000 in cash sitting around your house? We’re sure not a lot of hands went up, because a) people tend to keep their money in banks, and b) anyone who doesn’t trust banks isn’t going to trust cash either, and they’ll have it in gold instead.
The fact is, there aren’t many circumstances in life where you need that much money in such a short amount of time. Any time you need that much money there will certainly be alternatives like loans, whether you’re paying for a car, house, or college.
The same goes for bail bonds; we’re a type of loan too. You don’t need to have $10,000 on hand, and if you do have that much, you don’t need to hire security to protect you as you bring a bag full of money in. There are many more practical options.
Checks are a popular way for people to pay, because they might have the money in an account but their ATM limits the amount of money that can be withdrawn every day. Since many bail bonds are needed at night when banks are closed, checks are a great option for many people. We’ll run the check to make sure that the funds are actually available and then set up the rest of the bail process.
While money orders aren’t as common as they were a decade ago, thanks in most part to electronic money transfers, it doesn’t mean that they’re not still relevant in today’s word. Much like with checks, we’ll verify that the money order is valid and then help your friend or relative post bail money.
Most of us use credit cards just about every day, whether we’re sending them away with a restaurant server or are ordering something online. They’re also a big part of bail bonds, because it’s one of the most reliable ways that people have money available to them. We can run the credit cards to make sure that they have the funds available and then continue the bail bond process.
Sometimes the necessary bond money that you need is more than you have available in cash, in a checking account, or surpasses the amount you can put on a credit card. At this point it might be necessary to put up property as a guarantee for the bond. Cars are one of the most common types of collateral, but people can also put up houses if the situation is dire enough.
And Yes, Cash
You might not have $10,000 sitting around, but the bail money need might not be that much. We also take cash to pay for any applicable services.
We know that obtaining a bail bond is a new experience to many people, so we do everything we can to make sure that people have the financial options available to them to get their loved one or friend out of jail. If you have any questions about the type of payment we take, we’d be happy to answer them. Contact our Grand Rapids or Muskegon offices today!