The Problems With Supplying Your Own Bail Money
Do you need to come up with the cash to pay for bail? If so, you may not realize the potential problems that come with using your own cash rather than use a bail bondsman.
Needing To Sell Belongings
If you don't have enough cash on hand, you'll need to start selling belongings in order to get enough money to pay for bail. This can lead to you parting with things you would rather not sell just because they are worth a lot of money. Once those items are sold, you'll never be able to get them back again.
Losing Your Emergency Fund
If you are truly scrambling to come up with the cash for bail, this means that you are going to wipe out your entire emergency fund to do so. If you run into a financial emergency shortly after paying bail, you'll end up being in a tough financial bind that is very difficult to get out of. Having a big medical bill, car repair, or other unexpected expense can turn into a big problem because your money is tied up in bail.
What you may not realize is that your bail money will be held until the entire legal case is wrapped up. Bail money is not returned to you after you show up to your first court date, but once the final verdict is rendered. Realize that this can take many months to happen, depending on the nature of your arrest and why you are going to court.
Risking Your Own Money
If you are paying bail for somebody else, you will be putting your own money on the line for their early release. There are so many things that are out of your control which can cause you to lose the bail money, which includes violating the terms of the bail and not showing up to court. You may not be ready for the added stress of needing to closely monitor your friend or family member that you are helping
It will be time to visit a bail bondsman when you need to borrow the money for bail. You end up paying a small premium for the bail bond, but think of it as the interest you pay on a short term loan. You won't be able to go to a traditional lender to get money for bail, but a 24 hour bail bondsman will be willing to supply the money for you.