When someone is arrested, a friend or family member might want to obtain one of the Bail Bonds in Midwest City Oklahoma so the person can be released as quickly as possible. This gives the person a chance to continue to work and provide for their family before their trial instead of having to remain in jail. One of the major concerns a person might have when considering a bail bond is what they’re going to need to obtain one.
Cash for the Deposit
One of the options for obtaining a bail bond is to pay a deposit with cash. The person will need to pay a percentage of the bail bond and sign a contract agreeing to the terms of the bond. The bondsman will then pay the full amount of bail to get the person out of jail. If the person follows all of the terms of the bond, there is nothing further owed but the person doesn’t receive their deposit back as it’s used for a service fee. However, if the arrested person doesn’t follow all of the terms of the bail and the bond is revoked, the person obtaining the bond may be required to repay the remainder of the bail amount.
Collateral to Cover the Full Bail Amount
Instead of paying a deposit in cash, for larger bail amounts it’s possible for the person to obtain a bail bond using collateral. This may be the title to a vehicle or home, or something else of value. The amount of value must be more than the bail amount. The person must pay a service fee for the bond, but as long as the bond terms are followed, at the end, they will receive the collateral back. On the other hand, if the arrested person doesn’t follow all of the terms and their bond is revoked, the collateral may be forfeited and sold by the bondsman to cover their debt.
These are the two ways a person can obtain one of the bail bonds in Midwest City Oklahoma to help out a friend or family member. To obtain a bail bond or to get the answers to any other questions you might have, contact Ken Boyer Bail Bonds today. They offer the help you’ll need to help a friend or family member get out of jail fast.