When someone is arrested and needs to post bail, the last thing they want to worry about is how they’ll afford it. While bail bonds can be costly, there are ways of financing it without breaking the bank.

Payment Arrangements

Most bail bondsmen are willing to work out payment arrangements with the family of an accused. This could include paying a portion of the bond up front and then making monthly payments on the balance. Bail bond companies like Balboa Bail Bonds provide payment plans so families don’t need to worry about being taken advantage of.

Use Collateral

Bail bondsmen often accept valuable possessions as collateral for a loan, such as jewelry or other valuable items. They may also accept vehicles or real estate in lieu of cash payment.

Get a Co-Signer

If you don’t have enough money or collateral to purchase your bond, someone else may be willing to co-sign for it. In doing so, they take responsibility for covering any remaining debt should you miss any payments.

Search for Discounts or Deals.

Some bail bond companies provide discounts or deals that can help cover the cost of a bond. Make sure to inquire about any available discounts or promotions.

Paying for a bail bond doesn’t have to be an overwhelming endeavor. By creating payment arrangements, using collateral, finding a co-signer and researching any available discounts or deals, you can ensure you have enough money without breaking your budget. For further details on financing options for bail bonds, take a look at this infographic below which outlines them all in simple terms.