Becoming A Responsible Homeowner

What Can You Do To Get A Bail Bond Quickly When You Don't Have Much Cash In Your Bank Account?

If you have a friend or family member in jail and want to bail them out, you'll most likely need a bail bond. Court systems use bail as a form of collateral to make sure defendants attend all their scheduled court hearings. You deposit the bail money with the court, and it will be returned to you once the trial has concluded. 

However, the bail amounts set by courts are typically very high, and few people can pay them on their own. A bail bond agent will post bail for someone in jail in exchange for a fee for their services. You typically need to pay this fee up-front in order to secure a bail bond to release someone from jail. If you don't have enough cash on hand to pay the premium amount for the bail bond, you have a few options available to you in order to quickly raise the money that you need.

To find out how you can secure a bail bond when you don't have much cash available, read on.

Cash Advance

If you own a credit card, you can take it to a bank and ask for a cash advance. This is similar to withdrawing money from a bank account, except the amount is added to the balance on your credit card instead. Cash advances typically have higher interest rates than normal purchases you make using a credit card, but taking out a cash advance on your card is one of the fastest ways to raise the money you need to get a bail bond.

Payday Loan

A payday loan can be a good option to get money for bail if your salary is large enough to cover the premium amount. You'll need to go to a payday loan service with a copy of your pay stubs in order to get one. You'll receive money in your account quickly, and it will be taken back out of your account (with interest) when you receive your next paycheck.

Installment Loan

Installment loans can offer you higher loan amounts than payday loans, so they're a good option when the person you're bailing out of jail has a very large bond amount. You can apply for these online, and the lender will check your credit and your income history to determine how much you're approved for. You'll be required to pay back the loan in monthly installments over the course of months or years. It may take a day or two to receive the money, making this a slower option than a payday loan or a cash advance, but you can often use this form of loan to pay the premium for a very large bail bond.

If you need to bail someone out of jail quickly and don't have much cash available to pay the up-front premium for a bail bond, the above methods can help you obtain it quickly. Above all, it's important to call several bail bond agents in your area and tell them your situation — some may be willing to work with you on a payment plan that can reduce the amount you'll need to pay up-front, and some may accept collateral like cars and jewelry that can help you secure the bond that you need.