Difference Between Secured and Unsecured Bonds
Few people look at their lives and assume they’ll be behind bars at some point. Yet here we are, with one-third of American adults having been arrested on felony charges at least once.
If you or a loved one find yourself in need of a bail bond, you may have an option of a secured vs unsecured bond. What does this mean and which one should you choose?
What Is a Secured Bond?
When you get a secured bond, you put up collateral to guarantee the bond. If you skip out on your future court appearances, you will lose that collateral. Think of this as a secured loan like a mortgage.
One of the most common options for a secured bond is to put up your home as collateral. You could do the same with your vehicle or other assets.
Secured loans present a lower risk to the bondsman. If you skip bail, they aren’t left on the hook for your bond amount. Of course, it transfers the risk to you because you stand to lose all your collateral.
What Is an Unsecured Bond?
Think of an unsecured bond as a loan that doesn’t have collateral, like a student loan. If you don’t appear for future court appearances, you’ll owe the full amount of your bail.
An unsecured bond has a lower risk factor for you because there is no collateral for the court or the bondsman to seize if you skip bail. Rest assured that they will come after you to collect the money, though, through collection agencies or lawsuits.
Secured vs Unsecured Bond: Choosing One for Your Case
If you or a loved one is in the midst of a court case and you need to get a bail bond, is a secured or unsecured bond the way to go? There are several pros and cons to think about for each.
Secured Bonds are Easier to Get
It should come as no surprise that your bail bondsman is more likely to give you a secured bond than an unsecured bond. An unsecured bond comes with a far higher risk factor for them.
Each bail bond agency has its own criteria. However, to get an unsecured bond, you usually need great credit and no history of skipping bail in the past. You may also need to prove that you have the finances to pay the bond if necessary, like steady employment.
Unsecured Bonds May Cost More
For anyone to take a risk on a deal, it has to give them high rewards to make up for the risk. As a result, you may pay more for an unsecured bond because it carries a higher risk for the bondsman.
Keep in mind that the fee you need to pay the bondsman is typically set by the state. In Connecticut, the maximum price is 10% of the first $5,000 and 7% for any amount above $5,000.
In other words, assume your bail is set to $20,000. You’d need to pay 10% of the first $5,000 which is $500. Then you’d pay 7% of the remaining $15,000, which is $1,050, so the total would be $1,550.
Those percentages reflect the highest amount you could pay. You may pay less, especially for a secured bond.
Secured Bonds Have a Higher Risk for You
Many people prefer unsecured bonds if they can get them because they have a lower risk factor. With a secured bond, you could lose your home or other collateral as soon as your grace period ends after you fail to appear in court.
No one wants to deal with collection agencies or lawsuits either, which could happen if you skip out on your unsecured bond. At least you wouldn’t lose the roof over your head, though.
Getting the Details
When it comes down to it, no two bail bonds are the same. The only way to know your specific options for your bail bond is to call a bail bonds agency in Bridgeport, CT.
Based on your specific circumstances, your credit history, and your collateral, they’ll give you the details of your bond options.
An Important Note: Secured and Unsecured Bond vs Secured and Unsecured Bail
As you research the topic bail bonds, it’s important not to make a common mistake. You’ll see the terms secured and unsecured bond as well as secured and unsecured bail. Do not mix up these terms.
When you’re arrested and arraigned, the judge will give you either secured or unsecured bail. If you get unsecured bail, it’s the same as being released on your own recognizance. You don’t need to put up any money to be released.
If the judge sets a specific bail amount, it means you have secured bail. In this case, putting up your bail amount is meant to incentivize you to return for your court appearances. It gives the court extra “security” beyond the thread of charging you with failure to appear in court.
There is also the possibility you won’t get any bail at all, so you need to remain in jail until your trial is over. This is typically the case with serious crimes or people with a history of “failure to appear” charges.
Secured and unsecured bond refers to the agreement you have with the bail bonds agency. These are the terms we’ve been discussing in this blog.
Getting Back Your Freedom with Secured or Unsecured Bail Bonds
Understanding the differences between a secured vs unsecured bond is only the first step. You choose the best option for you, contact our bail bonds agency in Bridgeport, CT to discuss your specific needs. To get more details you need about your case or your charges, check out our court record resources as well.
Connecticut Best Bail Bonds Specialists
Bail Bonds in Connecticut are what we do best! Being arrested is not something that most people plan for. There are several violation that can result in someone being arrested.
Depending on the severity of the crime, law enforcement have no choice but to make an arrest. So you may have questions like: “How can we get them out quickly?”
Liza Davis Bail Bonds has years of experience in the bail industry and we understand the Connecticut jail system and are experts in dealing with all types of Bail Bonds.
We know that you might be afraid or uncertain about the various steps you or a loved one will go through, when being taken to jail.
Also to help you understand the process better, here is a basic outline of events that usually occur.
What Size Bail Bonds Do You Provide?
When it comes to bail bonds, one of the first questions that may come to mind is what size bonds are available. After all, every situation is different and may require a specific amount of money to secure someone’s release from jail.
At our bail bond agency, we understand that flexibility is key. That’s why we offer a wide range of bail bond sizes to fit the needs and budgets of our clients. We strive to make sure that everyone has access to the help they need, regardless of their financial situation.
Whether you need a small bond for a misdemeanor charge or a large bond for a felony charge, we’ve got you covered. Our team is experienced in handling all types of cases and can work with you to determine the best bond size for your situation.
In addition to offering various bond sizes, we also provide affordable payment plans to make the process easier on our clients. Our goal is to help alleviate the burden of bail and get your loved one released as quickly and smoothly as possible. We believe that no one should have to stay in jail simply because they can’t afford bail.
So if you or a loved one is in need of a bail bond, don’t hesitate to reach out to us.
What Size Bail Bonds Do You Provide?
When it comes to bail bonds, one of the first questions that may come to mind is what size bonds are available. After all, every situation is different and may require a specific amount of money to secure someone’s release from jail.
At our bail bond agency, we understand that flexibility is key. That’s why we offer a wide range of bail bond sizes to fit the needs and budgets of our clients. We strive to make sure that everyone has access to the help they need, regardless of their financial situation.
Whether you need a small bond for a misdemeanor charge or a large bond for a felony charge, we’ve got you covered. Our team is experienced in handling all types of cases and can work with you to determine the best bond size for your situation.
In addition to offering various bond sizes, we also provide affordable payment plans to make the process easier on our clients. Our goal is to help alleviate the burden of bail and get your loved one released as quickly and smoothly as possible. We believe that no one should have to stay in jail simply because they can’t afford bail.
So if you or a loved one is in need of a bail bond, don’t hesitate to reach out to us.
Bail Bonds CT: How Fast Can You Secure My Release From Jail?
If you or a loved one has been arrested in Connecticut, you may be wondering how long it will take to get released from jail. The answer depends on several factors such as the availability of bail bond services and the complexity of your case.
In general, a bail bond agent can secure your release from jail within a few hours.
In some cases, it may take longer if there are complications with the bail process or if additional paperwork is needed.
It’s important to note that the overall time it takes to get released from jail also depends on your cooperation and communication with the bail bond agent. If you provide all the necessary information and comply with any requests from the agent, the process can be expedited.
It’s also worth mentioning that there are certain situations where bail may not be granted immediately. For example, if you have a prior criminal record or if your case involves serious charges, it may take longer for a bail bond to be approved.
In any case, a reputable bail bond agency will work diligently to get you or your loved one released from jail as quickly as possible. They understand the stress and urgency of the situation, and they will do everything in their power to expedite the process.
Bail Bonds Connecticut: Understanding the Difference Between Bail And Bond.
When someone is arrested, they may be given the option to post bail in order to secure their release until their court hearing. However, there are times when the amount of bail set by the court may be too high for an individual to pay on their own. This is where a bail bond comes in.
Understanding Bail
Bail is a set amount of money that must be paid to the court in order for an individual to be released from custody until their court hearing. The purpose of bail is to ensure that the person shows up for their scheduled court appearance. If they fail to appear, the bail money is forfeited and a warrant may be issued for their arrest.
The amount of bail can vary depending on the severity of the crime, the person’s criminal history, and other factors. In Connecticut, if someone cannot afford to pay the full bail amount, they may seek help from a bail bondsman.
Choosing Between Bail And Bond
When deciding between paying bail or using a bail bond, it is important to consider your financial situation and the severity of the charges against you. If you have enough money to pay the full bail amount, it may be more beneficial to do so in order to avoid paying the non-refundable fee.
However, if you cannot afford to pay the full amount, a bail bond may be your only option. It is important to note that even with a bail bond, you are still responsible for attending all court hearings and following any conditions set by the court.
Free Warrant Check:
Contact a Bail Bondsman, we are in position to check to see if you have any warrants for your arrest and if so do you want to get it taken care of, we can work with you to assure you have a Bail Bondsman to get you in and out quickly.
Easy Payment Plans For Connecticut Bail Bonds
Our clients are not restricted to just one form of bail bonds payment. The Bail Bondsman accepts all major credit cards including Cash App, Venmo, PayPal, Apple Pay or Western Union.
We make our bail bonds payment process convenient and flexible to reduce the stress and to increase the efficiency.
We offer the most economical bail prices in Connecticut. We also allow credit cards and offer easy payment plans for those who want to pay their bond fee over time. We also check to see if you have any outstanding warrants – and this is absolutely free.
Low Down Payments Plans:
Lowest Prices Allowed By The State Of Connecticut. If needed, financing is available.
Our Bail Bondsmen offers low down payments plans to make sure you or your loved one gets out of jail as soon as possible.
All our Connecticut Bail Bonds agents are professionally trained to take your call at anytime of day, on any day of the week.
Let’s make your current circumstances easier so you can get on with your life.
Statewide Bail Bonds Service:
Areas We Serve The Entire Connecticut State.
While we have headquarters based in Middletown CT, Hartford CT, New Haven CT, our team offers statewide service. That means that no matter where you’re located in Connecticut, we’ll head your way and make sure that you’re assisted with the bail bonds and paperwork you require to be released.
We Provide Bail Bonds To All Eight Counties in Connecticut.
No matter where in the great state you are being held, our bail bondsmen in Connecticut will help get you home safely and at an affordable price.