Illegal bail bond premium discounts is an issue that is often misunderstood by both bail bond clients and bail bond agents as well. Often times, clients are not familiar with the bail bond industry and the laws that regulate it. All they want to do is help their loved ones get released, and move on with their lives. Being under such pressure, many clients lay their trust on the bail bond agent assisting them instead of taking the time to research the bail bond process and bail bond laws that govern this process. Unfortunately, there are bail bond agents out there who are willing to break the law in order to save a deal. These shady bondsmen will usually offer an illegal bail bond discount and portray it as a win-win situation, when in fact; accepting an illegal bail premium rate can lead to a bigger problem than the one that got the defendant in jail. It is important for everyone to understand the short and long term consequences of illegal bail premiums.
First of all, California law requires the bail bond premium to be set at 10%. For example, if the defendants bail is set at $20,000, then the premium will be $2,000. There are a few exceptions when a bail agent can offer a legal bail bond discount. These discounts are limited to individuals who qualify, click here for examples of legal bail bond discounts available in California.
Short Term Consequences
If a Judge discovers that an illegal bail premium was charged, the defendant can be placed back in custody and risk losing the money that was paid. In some cases, a judge can have the bail raised. Not only that, but would you feel comfortable providing your collateral and personal information such as social security number to someone who is willing to break the law? Don't risk losing your money, your identity and still have your loved one placed back in custody for a discount. One alternative for those who aren't able to come up with the whole 10% bail premium is a payment plan. Payment plans are legal and will give you the peace of mind that you did not break the law.
Long Term Consequences
Shady bail bond agents are not only jeopardizing their own careers when they break the law, but they can also be putting our bail system in danger. This debate has been going on for years in Connecticut, where prosecutors are requesting higher bail amounts because bail bond agents were charging 2-3% of the bail amount. Prosecutors from the State of Washington have been requesting bail reform as well. Some reports show prosecutors requesting up to double the original bail amounts. Can you imagine what such significant increases to bail amounts mean to the California bail industry? It would mean that those who follow the law will have to pay more to bail their loved ones from jail. Marginal clients will end up not hiring bondsmen due to the higher cost.
As bail bond agents, some might assume we would benefit from an increase in bail amounts. The reality of it is that bail bond agents, especially the responsible ones, will have a harder time securing their risk. The current California housing market has left many homeowners without equity, which has led many bondsmen to raise their limits on "signature bonds". Signature only bonds are riskier in their nature. Having double the risk with no collateral means that bail forfeitures would push many companies out of business.
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