Understanding Loan Terms

Understanding Loan Terms

Should You Bail Someone Out Of Jail?

by Gregory Hall

Have you been asked to take on the task of bailing somebody out of jail? If so, you may be wondering if you should help them out or pass on providing the favor.

What Crime Were They Arrested For

An arrest can happen for a variety of reasons, so start by looking at the crime they are arrested for and how that reflects on them as a person. Your moral compass may put a stronger weight on some crimes over others, which determines if you want to help with bail. You may feel like some time in jail will actually help the person see that what they did was wrong, and it would be best for them to wait than to get out of jail early.

Do They Need Help With Getting A Lawyer?

Getting released from jail early is not just about freedom, but about getting prepared for an upcoming court case. If this is the type of case that they will need to speak to a lawyer about to build up a defense, early release from jail on bail could really benefit them in the end.

Do You Have The Money For Bail?

If the reason for asking you to help with bail is to help pay for it, you must consider your financial situation at the time. Know that the money you pay for bail is going to be tied up with the court until the case has been settled. If you are tight on cash and bail will wipe out your bank account, you may need to consider using a bail bond to get the funds you need. These alternative methods do require that you pay a premium for using bail, making it essentially a short-term loan, but it won't drain you of all your cash to help someone out.

Do You Trust Them To Return To Court?

Getting back your bail money depends on the person returning to court. If they don't return to court, they'll be violating the terms of the bail and you will lose that bail money. If you used a bail bond, you'll lose the collateral you provided to get the bail bond. You really need to think about if you trust the person to go back to court and face the potential consequences of their actions. If you think they are going to potentially skip town, you can always say no and tell them to ask someone else.

Contact a bail bond agent for more information.


About Me

Understanding Loan Terms

When I started my own company, I knew that I needed a little business capital and fast. In an effort to raise money, I worked with various lenders to discuss loans, financing, and special terms. Unfortunately, I quickly discovered that not every loan was created equally. Some loans had almost predatory terms like high interest rates and penalties, while others were completely fair. Fortunately, a business consultant of mine taught me about loans and financing, so that I could make better choices in the future. The information on this blog saved my business, and I know that it can help yours too.