Since no one ever plans on getting arrested, posting bail for a loved one is virtually always an unanticipated expense. And depending on the circumstances, it can be a hefty one. Even if you plan on securing a bond, there are fees associated with doing so, and the higher the bail amount, the larger they will be. Here is what you should know about financing these fees if you cannot scrounge up enough cash for them on short notice.
Can I Take Out a Loan to Obtain a Bail Bond?
Reputable agencies are determined to make bailing out a loved one as simple as possible. In other words, they prefer to finance the fees themselves if clients cannot pay in cash. Although you could theoretically obtain a personal loan to cover the fees, it will be much faster—and potentially more affordable—to work directly with the bail bond agency and choose from one of their payment plans. Unlike lenders that extend personal loans, the bond agency will not always make a hard inquiry on your credit before offering a loan for the fees and should not charge interest.
Will Posting Bail Appear on My Credit Report?
Posting bail is like any other consumer transaction. In other words, even if you finance the fees by taking out a loan with the agency, it will not affect your credit directly. The only way the transaction could end up hurting your score is if you fall behind on payments. If you are unable to meet the minimum obligations set forth by the agency—or you put the fees on a credit card and then miss a payment—the debt could go to collections, thereby resulting in a delinquent mark on your report. As long as you stay on top of the payments, though, posting bail for someone will not affect your credit score whatsoever.
If someone in your family has gotten in trouble with the law, turn to 3-D Bail Bonds. They have two convenient locations in Hartford across from the correctional center and New Britain, CT. Our professional bondsmen are available 24 hours a day, 7 days a week. With an unwavering commitment to getting suspects released as quickly as possible, we are proud to help families who find themselves facing one of life’s most stressful situations. To find the office nearest you, check out our website. To talk to a bail bondsman in Hartford, call (860) 247-2245.