When someone gets in trouble and is assigned a bail amount, they usually have to turn to a bail bondsman for help. However, you might wonder how bail companies earn money when their job is to lend it. This Youtube video explains it perfectly, so you can understand your options, just in case.
Let’s find out more.
Once you get a bail hearing and find out how much you have to pay to be released, you can call a bail bondsman and start the process. Usually, a family member will meet with them and settle things so you can get out instead of having to wait in jail until your court date. Remember that bail is usually set to ensure that you won’t run off and skip your hearings.
How does this business makes money? Well, a bail agent charges between 10% to 15% of the total bail amount. However, the amount might be lower or higher depending on certain circumstances, such as the location of the arrest. Therefore, a bail bondsman who charges 15% of a $5,000 bail receives $750. You won’t get that money back.
You can watch the rest of the video for more details about how a bail bondsman earns money.