It's the kind of phone call that no one wants to receive. You're lying in bed one night when the telephone rings. On the other end of the line, you hear the frantic voice of a good friend and are quickly informed that they've been arrested and need money to get out. Although your own funds are tight, you ask them how much they need, and they ask you to front several hundred dollars to pay a bail bonds agent. You hastily agree and send the money to the agent before falling back to sleep. If you've never had to do this before, you might be clueless about what to expect going forward. Here's what you need to know when you've used your money to back a bail bond for a friend.
You Might Be Able To Get Your Money Back
The cash that you gave up for the bond might not be completely lost. If the arrested party is released and subsequently shows up for all of their court dates, the money could be returned to you. It's good to remember this because if you don't have a huge budget, those funds might have been taken from the resources you planned to spend on an important bill.
Since there is a chance that you can get your money back, you may need to become a bit persistent with your friend. Stress to them the importance of getting to every single court date and not missing a single one. If they fail to appear, it could mean they forfeit the right to get the money back and might even be considered a fugitive who is trying to evade the law.
Collateral Can Be Used In Place Of Money
If you really want to help your friend but don't have much money, you should know that there are things you can use as collateral in place of cash. Old valuables that you have around your house might be able to cover the balance. Antiques, property deeds and collectibles could be sufficient enough to more than stand in for any liquid money needed to help your friend gain their freedom. Ask the bail agent if what you have will work.
Helping a friend during their hour of need is sometimes the only way for you to demonstrate how much you care. If you ever receive that emergency call in the middle of the night, you now have the information you need to truly be of assistance. For more information, contact a local bail bonds company.