Understanding Zero Down Bail
The average person knows that if someone doesn’t want to sit in jail until their trial, they have to post bail. Most people understand that if they can’t afford to post the bail themselves, they can work with a bail bonds agency and work out a plan to get a bail bond for just 10% of the required bail.
What most people don’t realize is that even if they’re broke, they may still qualify for a bail bond. It’s even possible that they can finalize the bail bond and walk out of jail in about 24 hours or less.
How is this possible?
Riverside Bail Bonds make it possible by offering their clients zero down bail bond payments.
It’s important to understand that a zero down bail bond is not the same as being released on your own recognizance. When all is said and done, you’ll still have to pay the bail bond agency 10% of the bail bond. The zero-down bail payment simply makes it easier to get the ball rolling while also making bail more feasible for everyone.
Zero-down bail bond payments are very similar to a car loan or mortgage. In exchange for the bail bond, you set up a regular payment plan that’s designed to cover the fee the bail bonds agency charges. The payment plan must be in place before the agency writes the bail bond.
Not everyone is going to qualify for the zero-down payment plan. To qualify, the applicant needs good credit, collateral, a job, and someone who is willing to work as a co-signer. The individual also needs to understand that if they default on a single payment, the bail bond will be revoked, they’ll be arrested again, and it will be very difficult to find another bail bond agency that’s willing to take a chance on them a second time.
Another thing that makes the zero down bail bond payment different from a car payment is that the payments are often made more frequently.
Before you commit yourself to a zero-down bail bond plan, make sure you double-check that no interest will be charged. As long as there isn’t any interest attached to the payment plan, in the end, you’ll only pay 10% of the bail bond, which is what you would have paid had you been able to afford the bail bond outright.