If you are arrested for a crime in Los Angeles, you may be required to post bail if you want to be released from jail while awaiting your court appearance. (See our Feb. 16 post for an explanation of bail and how to post bail in Los Angeles.) When a Los Angeles defendant lacks the cash resources to post bail themselves, he may use the services of a bail bondsman.
"A bail bond is a contract between the government and the surety," explains expert Los Angeles criminal defense attorney Stephen Rodriguez. In Los Angeles, a bail bondsman guarantees the court that the defendant will appear as required. If the defendant fails to appear, the bail bond company, also called the surety, must pay the court the full bail amount.
Bail bond companies charge a premium for their services, usually 8% to 10% of the bail amount. As criminal defense attorney Rodriguez explains, "This premium is the bond seller's fee for taking the risk that the defendant won't appear in court. A bail bond may sound like a good idea," Rodriguez warns, "but buying a bail bond may cost you more in the long run. The premium you pay the bail bondsman is nonrefundable."
When a defendant doesn't have or cannot raise enough cash to cover the bail amount, a bail bondsman will accept real property or possessions of equal or greater value, deducting the amount of any outstanding loans. The mortgage due on your home or loan amounts still due on possessions offered as collateral for bail -- the unpaid amount on a car loan, for example -- are deducted from the value of the item.
When offering property or possessions as collateral to obtain a bail bond, it's important to understand that if you default on your bail bond, you lose the entire item, including the value of any payments you have made. For example, if you've paid off half your auto loan and use your car as collateral for bail, then fail to appear in court as required; you lose your car, including all the money you've already paid toward the loan. If a parent, relative or friend pays your bail or pledges his home, car or other possessions as collateral for your bail bond and you fail to appear, he could lose his assets.
If you are arrested in Los Angeles, consult the knowledgeable criminal defense attorneys at the Law Offices of Stephen G. Rodriguez. Rodriguez and his associates regularly secure their clients' release without posting bail, saving their clients thousands of dollars that can be applied to their defense. Risking losing your savings, home, car or other valuables to a bail bondsman should only be considered as a last resort.
