Most people are unaware of how bail bonds work until they or someone they know gets arrested. This is why the services of a bail bondsman are essential. Not only can they help you in securing bail bonds Greeley for your immediate release, but they can also help you understand your bail bond options. One of the options offered today is No Money Down Bail Bonds or also known as No Down Payment Bail Bonds.
In most cases, if you get bail bonds Greeley, CO, you are expected to pay a premium, which is usually 10% of the total bail amount. Nonetheless, there are a lot of people who can’t pay even just the premium amount. Luckily, certain bail bond companies offer a no down payment option or bail bonds that do not require you to pay a premium.
Before the bail bond company agrees to give you a zero downpayment, you will need to provide several requirements to qualify. However, you are expected to sign over collateral such as real estate, vehicle, bonds, or any other valuables. Jewelry and other smaller but valuable items can also be used as collateral.
The bail bond company will then secure the collateral to avoid incurring any financial losses. It is expected that the collateral you provided will be used for ransom to ensure that you follow the conditions and fulfill your obligations as per the contract.
How is the collateral returned?
The bail bond company will keep the items you submitted as collateral securely until the trial is over. The collateral will be returned to you when:
- The bail amount is exonerated.
- The defendant is sentenced.
- The defendant is proven innocent by the court.
- All charges are dropped.
Benefits of No Down Payment Bail Bonds
Getting arrested is already hard enough, and with this type of bail bond, it will be a lot easier to get through this challenging situation.
You can save money.
The number one benefit you can get from a no down payment bail bond is not having an obligation to pay the premium. So long as you meet the conditions and requirements, you can immediately secure the release of your loved one and save money in the process.
No down payment bail bonds are less stressful and confusing.
Not having the cash to pay 10% of bail bonds Greeley can be extremely frustrating on your part. And even if you can find resources to settle your finances, it can get stressful. No Down Payment Bail Bonds can take that worry off your list.
A better chance to prepare for your trial.
A no down payment bail bond can immediately secure you or a loved one’s release. That means you will have a better chance to prepare for your trial since you have more time to find witnesses and meet with your lawyer.
Find a no down payment bail bonds Greeley, CO near you for a quick and easy way to secure you or your loved one’s release from jail. Contact Lucky Lucero’s Bail Bonds for a free quote!