Why would someone seek assistance from a 24 hour bail bond service in Stamford CT if this person can afford cash bail? During this time of turmoil, it’s still important to consider the best options when trying to be released from jail. In certain cases, paying the fee for a surety bond to be posted has distinct advantages compared with paying cash bail.
Reasons People Choose Bail Bonds
Most people who become clients of a bonding service cannot afford the cash bail and do not have sufficient collateral. However, they can pay a reasonable fee to this type of service in return for the surety bond. In contrast, some defendants could pay cash bail and eventually have it refunded. But they would rather use that extra money to hire a lawyer.
Bonding Fee vs. Cash Bail
The fee for a 24 hour bail bond service in Stamford CT is not refundable, but it is much more affordable than cash bail. The fee for a surety bond is usually set at 10 percent of the bail amount. The defendant may be able to hire a private lawyer for the amount that would have been spent on bail. This can be a significantly more effective use of the money after being charged with a crime.
Disadvantages of Paying Cash Bail
With limited access to communication with the outside, an arrested person who wants to pay cash bail often must borrow the money from a relative or friend and then pay it back. Coming up with the full amount in a hurry can be challenging for nearly anyone. There probably is no way to do so over a weekend because the money is in an account. If some of the money is in stocks or a retirement account, time may be needed to arrange for the release and sending of funds.
After paying cash bail, that money is tied up until the case is resolved. That can mean no safety net or emergency fund. The person may have been saving to pay a large upcoming bill, such as property taxes or an income tax installment. Obtaining service from a company like Aces Bail Bonds could be a more reasonable choice. Schedule an appointment to get started.