Bail Bonds and Credit Scores
When considering posting bail for a loved one, there’s a lot to think about—it can be a huge financial responsibility depending on their bail amount. Even if you don’t have the cash upfront, most bail bond companies offer a variety of bail bond payment options to make sure you’ll be able to get your loved one out of jail. It’s a common misconception that co-signing for a bail bond will ruin your credit. In reality, a bail bond won’t affect your credit score in any way. However, bail bond companies may conduct a credit check before allowing you to get a bail bond to make sure that you’re a reliable co-signer.
Will Paying a Bail Bond Affect my Credit Score?
While posting bail won’t affect your credit score in any way, there can be subsequent repercussions that can affect your overall score. If you have the credit available, you can pay a bail bond with a credit card. Even this won’t affect your credit score, but if you fail to make the payments then that will affect your score. Refraining from making your regular credit payments can result in a lower credit score for you—thus, even though paying for a bail bond won’t necessarily affect your credit score directly, it can have repercussions down the line.
Another example of how a bail bond can indirectly affect your credit score is if you put something like your house up as collateral and then violate your bond agreement; you can risk losing your asset and be forced to file for bankruptcy. Posting bail for a loved one shouldn’t be a problem if you intend on adhering to the terms of the bond and repaying your debts if you used a credit card to cover the amount. However, if you foresee difficulties with either of these stipulations, your credit can potentially become affected.
Bail Bond Payment Options with PCS Bail Bonds
PCS Bail Bonds is proud to offer a wide variety of bail bond payment options, including mobile payment at the jail. We offer surety bonds with a down payment option and financing available to suit your specific needs. We understand that it can be an intimidating process when a loved one is arrested and is in need of bail, which is why our bail bond agents are always on call; they’re available 24 hours a day, seven days a week to answer all of your questions. While local court systems can take hours to process an inmate, PCS Bail Bonds can have the paperwork done and be down to the jail in as little as 20 minutes. Contact us today for guaranteed fast release.
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