The bail bond business is much like any other industry that is currently open to the public in the sense that not all businesses or firms work in an honest manner. How do you know if the services you are offered are feasibly valid or if anyone trying to help you could swindle you? -click to read more.
While the bail bond market is highly regulated, there are a few select businesses out there that do not conduct business in an ethical manner. It is also helpful to look into the history of the business when finding a bail bond company and to speak face-to – face with their bond agent before committing to any arrangements. In recent years , a number of commercial bailing firms have been scrutinised for malpractice. Many of these incidents involved wrongdoing with a bail jumper being arrested by fugitive rescue officers or bounty hunters. In some cases , criminal charges against bounty hunters for unlawful detention practises have been filed and tried.
When choosing a bail bond agency, the first thing to note is that if it sounds too good to be true, it actually is. If you are given a “no money down” or “nil down” loan by a bondman, you should consider moving somewhere else. The amount of fee required for the bond is set by the Department of Insurance of the state in which the agency operates and should be consistent with all commercial bail firms within the state. Once this payment is made, the agent would have to pay a significant portion of the designated state fee to their finance business. This is one way that a consumer can detect an agent of “unethical” bonds. How does this business stand to benefit if, when their protection company wants to be paid, they have a loan with no money down?
Usually, in the event that the bailee skips the court date given to them, an institution may require the co-signer to put up a “mortgage” or security interest in real assets to protect the loan sum. It is standard practise when choosing a “no money down” bail agent that these companies would use the collateral mortgage over the head of the co-signers to guarantee the ten percent bond premiums. Such types of agencies prefer to use methods of collection and etiquette that the majority of bail bond agencies do not practise. While this is not always the case, behind this sales pitch, a organisation providing a “zero down” bond usually has a motive that appears to favour the firm over the client.
Although the bail bond sector is one that is driven by urgency in the needs of the consumer, it should take some time for a customer finding a reliable bailer to ensure that the option they have chosen is serving the customer’s best interests. Both commercial bail firms are expected to charge the same sums depending on state legislation, so a legal bond firm is really differentiated by the standard of service.