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Does Posting Bail Affect Your Credit Score?

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If your loved one has been arrested for a crime, getting them out of jail can be difficult depending on where you live. You’ll likely want to do everything you can to help but using your own funds to bail them out of jail may be a sudden and challenging thing to do. Not to mention, it could have negative repercussions on your future finances. If you are wondering if posting bail in Texas can affect your credit score, here is what you need to know.

Will Posting Bail Appear on Your Credit Report?

Posting for a bail bond may not appear on your credit report but if you use a credit card to make the payment, you must make sure you pay your bill on time. If you have an outstanding balance on your credit card when the payment is due, it will affect your credit score. Just like any other card balance, paying past the due date will result in a negative mark on your report.

Can You Take Out a Loan to Pay Bail?

It is possible for you to take out a personal loan to cover the cost of a bail bond. However, doing this will come with fees and interest rates. If you do not pay your loan off on time, the bank can turn over the debt to a collections agency or use legal tactics such as wage garnishment to get the amount back.

You can avoid this issue by working with a bail bond agency to get bail. Instead of taking out a loan the bail bonds agency will cover the cost of the release as long as you pay a certain percentage. Some bail bonds agencies will offer convenient installment plans to make payments more manageable for everyone.

Do You Get Your Money Back?

For most bail bonds, except for a few exceptions, you will not get your premium back from the bail bond company. This fee is typically 10% of the total bail amount and it ensures the defendant gets released from jail. This fee is non-refundable and the only way to get this money back is if the bail bonds company fails to meet the contract.

Can a Bail Bonds Company Give Discounts?

The payment given to a bail bonds company usually depends on the case. The state of Texas has set a premium rate of 10% and can remove a bondsman’s license if they offer a discount. Some companies may use tactics to get you to believe you are getting a deal, but they will end up charging the full amount in the end because they are required to.

If you feel unsure or deceived by the bail bonds agency you are speaking to, ask for the rate chart and take some time to consider it before making a decision. It is very important that you choose a reputable bail bonds company with a history of satisfied clients.

Are Some Bail Bonds Companies More Affordable than Others?

In the state of Texas, bail bonds companies must be licensed and are regulated to follow strict guidelines. The rates they offer cannot be excessive, inadequate, or unfairly discriminatory. In the same manner, they cannot provide any discounts, even to clients who are challenged with paying the premium. The best they can do is offer a payment plan that spreads out the cost.

What Collateral Can I Use Instead of Money?

Every bail bonds agency has their own expectations for what they consider to be collateral, but generally they each accept a variety of options. Some examples of collateral used for bail bonds include real estate, cars, credit cards, jewelry, stocks, personal credit, and bank accounts.

What Happens if the Defendant Violates Their Bail Terms?

If the defendant that you posted bail for breaks the conditions of their release and gets arrested again, the bond is surrendered, and your personal liability is terminated. If you choose to surrender the bond, you won’t get your premium back. If you decide to release the defendant, you will need to pay another bond and an additional premium.

Finding a Bail Bond Agent in Texas

In conclusion, posting bail will not damage your credit score as long as you can pay it off on time. However, raising balances and procuring loan funds can hinder your credit score. Posting bail is harmless as long as you can manage it. It may be best for you to speak with your credit advisor to see if you can handle such a decision, and work with a bail bonds company, so you pay a more affordable premium, rather than the entire amount.

If you are looking for the right bail bonds agency to help get your loved one out of jail, we can help. PCS Bail Bonds can help you if you need to post bail or need advice about your situation. We provide 24-hour bail bonds for all kinds of charges including theft, drug possession, embezzlement, assault, and more. Our experienced agents can help you obtain a bond in a fraction of the time it takes other agencies.

We have professional memberships in several renowned associations including the Professional Bondsmen of Texas, Tarrant County Bar Association, and Professional Bondsmen of Tarrant County. We serve clients in Fort Worth, Texas, and other municipalities in Tarrant County. We process our clients’ requests quickly and efficiently because we understand this process can be frustrating and risky.

Contact us now by phone at 817-335-1655, at our e-mail, visit in-person, or fill out our bail bond request form. You can be confident that you’re working with experts who are dedicated to helping you.

Author: Paul Schuder

Paul Schuder is the owner of PCS Bail Bonds and Profession Court Services (PCS). He is a lifelong resident of the Dallas/Fort Worth area. Paul has over twenty years of courthouse experience, and has been in businesses involving the criminal justice system for his entire career. Paul has helped thousands of clients with their pursuit of justice and fair play. Mr. Schuder maintains high levels of respect with all the court house personnel, especially judges and attorneys. Using a close hands-on personal approach and a keen understanding of all cultures, helps people when they need it most. Add me to your G+

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