14 Dec Did You Know There Is a Difference Between Bail and Bail Bonds?
Many people do not realize that there is actually a difference between bail, and bail bonds. The difference between the 2 can equal out to a lot of money.
Bail is determined by a judge, and it is the amount of money that needs to be paid in order for someone to be released from jail. Bail is usually set in the price range of several thousand dollars. Bail also needs to be paid in full with cash all at once, in order for the person to be released from jail. Most people do not have thousands of dollars just lying around, which is why it is hard for many people to bail their loved ones out all on their own.
It was due to those difficult conditions, that bail bonds came into existence.
Bail Bonds are determined off the price of the bail and are different from state to state. In Louisiana, bail bonds are 12% of the price of the bail. This means people save 90% of the money they would have needed to bail out their loved one. On top of the huge discount, bail bonds are far more flexible then bail itself. Bail bonds can be paid with any payment method and can be paid off via a payment plan. On top of that, the defendant will be released from jail after the first payment has been received.
As you can see, there are huge differences in cost and convenience between bail and bail bonds. Bail bonds are far more cost effective than the bail they are based off of, which is why so many people chose to go the bail bond route when rescuing a loved one from jail.