Do I Get My Money Back?
Bail bonds are a convenient and affordable solution to get someone you love out of jail. Bail may be set at thousands or tens of thousands of dollars. A bail bond allows you to pay a premium of just 10% of the bail amount. One of the most common questions about bail bonds is whether you get a refund when the case is over.
Bailing someone out of jail can be expensive and you aren’t guaranteed to get any money back. Bail bonds can reduce your immediate out-of-pocket expense by about 90% in exchange for a fee. Here’s what you should know about bail bonds and refunds.
How Bail Bonds Work
When a bail amount is set, the court must be paid the full amount in cash or some type of acceptable collateral. An alternative that is usually available is paying a bail bondsman 8-10% of the bail amount to secure the person’s release. Once the fee is paid, the bail bondsman takes the bond to jail to get the person released from police custody.
The 8-10% premium you paid is considered the bail bondsman’s fee for their services. You will not get this money back.
When Are Refunds Allowed?
If you pay for a bail bond but the person must stay in jail, your money will be refunded. A complete refund will only be issued to the person who paid the money if the defendant isn’t released.
Cash Bail Is Different
If you pay a cash bail to the court, the money will be returned as long as the defendant makes all necessary appearances. This requires paying the full bond amount. The bail money is returned when the defendant is acquitted or the charges are dropped. This refund is usually issued as a check mailed to the address on file with the court. This usually takes 6-8 weeks. If the defendant is found guilty, the bail amount goes toward court fees. In this case, you can’t get your money back.
While paying bail in full can get you the full amount of bail refunded if the defendant is acquitted or the charges are dropped. However, this isn’t always possible. When the bail amount is unaffordable, bail bonds offer a cost-effective solution to get your loved one released. Contact Signature Bail Bonds today at 918-592-5400 to learn more about the bail bond process. We will show you how you can post bail for someone who is incarcerated.