An arrest can happen at any time, and the need to secure a loved one’s release is often a financial burden on the family. Most seasoned bondsmen understand the dilemma and can make the Moreno Valley bail bonds payment process more manageable by working within the bounds of your circumstances and accepting various bail bond refinance options. This article discusses these different refinance options, how they work, and their eligibility.

What is Bail?

Bail is a financial guarantee, given by a suspect or a bail bondsman, required for a person's release from detention pending trial. Bail bonds are underwritten and issued by licensed Moreno Valley bail bond companies.

The guarantee ensures that the suspect/defendant will attend all their scheduled court hearings. Failure to attend court often leads to forfeiture of your bail amount and additional legal repercussions. The bail amount is refunded once the case resolution happens.

The judge sets the bail amount based on various factors, including the severity of the alleged crime, your criminal history, and whether you are a flight risk. In most cases, the required bail amount is too high for most defendants to afford. You can partner with a bondsman if you cannot afford the cost. Bail bond firms pay a bond for an accused after the accused enters into a contractual agreement with it and pays a non-refundable 10% premium. The bond promises that if an accused fails to meet their end of the bargain, the bond company will pay the entire bail amount.

Using Car Titles for Moreno Valley Bail Bonds

Based on the specific circumstances of your case, like the time and place of your arrest, offering an automobile title as collateral for your bond may be necessary.

To do so, you must meet the criteria below:

  • You must own a vehicle.
  • Your car’s title should be in your possession.
  • You must not be presently making payments on your automobile.
  • The vehicle must be in excellent condition and operational.
  • Your automobile’s value must be equivalent to the loan you are requesting.
  • Your vehicle should be locally owned.

Your bondsman cannot accept it as collateral for your bond if any of the following is true:

  • You have not paid off the vehicle.
  • The vehicle is in terrible condition.
  • The car does not have up-to-date insurance or registration.

Although classic top-of-the-range automobiles are mostly preferred when applying for bonds, other cars are also acceptable if they meet the above criteria.

You should understand that offering a title as collateral for a bail bond is a short-term solution. This approach is ideal for securing bonds during holidays or weekends.

Bail Bond Discounts

Everyone likes discounts because they can substantially lower costs, reducing financial challenges. Enquire from your Moreno Valley bail bond company about the available discounts. The people who commonly qualify for bond discounts include:

  • Homeowners
  • Union members
  • Military service members and their close loved ones
  • Members of the American Association of Retired Persons
  • Teachers
  • Defendants with legal representation

You should contact your bondsman for details on discounts.

You Can Secure  Moreno Valley Bail Bonds Using Cryptocurrency

While the justice system might not process bail bond payments using cryptocurrency, there is still hope. You can use Bitcoin, Ethereum, Litecoin, and BitcoinCash to process the bail bond payments and secure a release from jail.

How Bitcoin Works

Since Bitcoin is a type of digital currency, it has minimal limitations relating to its usage. Payments made using Bitcoins do not depend on any company or government support. Therefore, paying bail using Bitcoin anywhere in the world is possible. You can make bail bond payments using Bitcoins through a smartphone, computer, or in person without delays.

A payment is established through a unique internet address similar to an email address and can be used only once for a single Bitcoin transaction. No payment is needed when making payments for goods and services.

There are numerous reasons for paying for your Moreno Valley bail bonds with bitcoins, including the following:

  • Paying bail bonds with Bitcoin can be cheaper than other alternatives, like credit card payment options.
  • The transaction could be faster than paying through bank transfer transfers, especially if you have to liquidate your assets to raise the bail bond amount.
  • Bitcoin also offers flexibility, ensuring you can pay your bail bond anywhere in the world.

How to Pay Bail Bonds Using Ethereum

Ether is a digital currency used to exchange value. The transfer occurs using the Ethereum platform. You can make bail bond payments using Ether from any place in the globe at minimal cost to the payee. Unlike Bitcoin, Ethereum is fully decentralized; no banking or government agencies regulate it. Instead, digital currency is ensured through blockchain technology.

Taking Advantage of Bail Bonds Repayment Plan

Sometimes, affording the required premium is also next to impossible. That is where seasoned and compassionate Moreno Valley bail bondsmen come in handy. They can work with you to know the best bail bond repayment plan that suits your situation. 

A flexible repayment plan involves the following:

  • Making a down payment — If a defendant cannot raise the required premium, they can negotiate with their bondman to make a down payment first. The downpayment is a percentage of the premium. The higher your down payment, the higher the chances of your bondsman agreeing to an affordable payment plan.
  • Making installment payments — After paying the upfront amount, you will pay the outstanding balance in installments.
  • Paying interest for the loan accrued

There are many reasons why repayment plans are better than other bail bond refinancing methods. They include the following:

  • You do not have to have the required amount upfront.
  • You don't need to have properties at the moment.
  • You can choose a repayment plan that best suits your situation and needs.

Like standard bail bonds, you must present collateral. The collateral safeguards your bondsman if you flee town and the bail amount is due. If that occurs, the bail bond company will dispose of your asset(s) and recover any financial loss.

The collateral can include any valuable assets. The collateral offered to your bondsman will stay in their possession until your case is closed.

You can apply for an affordable repayment plan electronically. The process involves the following:

  • Filling out the application forms online
  • Virtually signing the forms through email
  • Making your down payment
  • Uploading of the documents to the bail bond company’s website
  • Meeting physically with a bondsman at the jail where you are held or at the courthouse

Note that, in the repayment plan, you should consider if there are any additional fees or rates. Ensure you thoroughly read and fully understand the paperwork before appending your signature. You should also have any concerns or questions addressed by your bondsman.

Examples of Bail Bond Repayment Plans

Here are examples of repayment plans to help you understand how the process works.

  • 0% bail bonds — The police can only release you without posting bail on your own recognizance (O.R.). Nevertheless, 0% bail bonds are an alternative. Zero-down bonds are flexible payment plans that allow an accused to cover their bailing company’s fees in manageable installments rather than in a single lump sum. You can obtain 0% bail bonds without charges and paying a down payment. Please note that only a few bondsmen offer this plan and have strict qualification requirements. For instance, you must have a good credit score, collateral, co-signer,  and stable employment.
  • One percent bail bonds —One percent bail bonds require you to make a one percent deposit. Your bonds company will then downsize the mandatory deposit amount to secure financing. That enables you to focus on other aspects of the judicial system to secure your release from detention.
  • Five percent bail bonds — With five percent bonds, you should pay your Moreno Valley bail bondsman five percent of the entire bail bond amount as a deposit before the bail bond company posts the total amount to the court. Then, in partnership with your bondsman, you can develop a repayment plan that works best for you. Typically, you do not need collateral to secure the five percent bond. If you are employed or have a cosigner with a secure job, your employment will be your guarantee. You will also require a valid state ID to be eligible.

Requirements for Bail Bond Payment Plans

The eligibility for bond payment plans includes the following:

  • The defendant should be a California resident.
  • You must have an eligible co-signer with recent pay stubs as proof that under current employment, documents showing they are a resident of California, like car registration or a recent utility bill, and a valid ID.
  • Your co-signer’s yearly gross income should be equivalent to or higher than the entire bail amount, or a homeowner should have sufficient equity in their home located within California to cover the entire bail amount and related payments you still owe the bond firm.

Remember that a previous failure to appear charge could prevent you from obtaining low deposit rates.

Crimes that may not qualify for bail bond payment plans include:

  • Domestic violence (DV)-related cases like corporal injury to your cohabitant or spouse, child abuse, and violation of a protective order
  • Driving under the influence-related criminal charges like hit-and-run and drunk driving resulting in an accident

Payment plans are also unavailable in the following types of cases:

  • Out-of-county warrants
  • Out-of-state bonds
  • Identity theft
  • Pimping
  • Prostitution
  • Pandering
  • Federal cases
  • Immigration bonds
  • Stolen vehicles
  • Bond surrenders
  • Petty theft, handling stolen goods
  • Grand theft
  • Drug-related offenses

Flexible Repayment Plan Processing Duration

The bail bond processing duration depends mainly on your jurisdiction, bail amount, the offense, and the length of the court case. You can pay the bail amount on the bail schedule immediately following your arrest. However, if you were arrested at night or on a weekend, you might have to wait until it is a working day.

Once the court determines the bail amount, the release will be based primarily on how quickly you or your family contact your bondsman. The bail bond company will contact the jail and send a bondsman to post the bail amount. Typically, your release could take 30 minutes to 10 hours once the bail amount is posted.

Once you secure your bail bonds, you should promptly inform your bondsman if there are any changes of name(s), address, or social security number. Disclosing these crucial details in case of changes will help you avoid prosecution for defaulting on repayments.

What Happens If You Cannot Repay Your Bail Bond

The repayment process is crucial for bond payment plans, and the stakes are high. Failure to adhere to the payment timelines could lead to the revocation of bail and your re-arrest pending the trial’s date. The revocation can happen if the bondsman believes you can try to subvert the court process against you.

However, if you encounter financial difficulties, you should inform the bondsman early in the repayment process to learn of other potential options that can best accommodate your financial situation. You could negotiate a longer repayment duration with reduced monthly installments or lower rates.

As a valued customer, your bail bond company could adjust the payment plan or explore alternative options if you encounter challenges while making the agreed-upon payments.

The following recommendations can help you stay on track with your bail bond repayment plan:

  • Set reminders to help you keep up with your payments.
  • Be proactive and contact your bondsman if you encounter financial difficulties.
  • Make payments before the due date.
  • Request for financial assistance from your family.

Contact a Professional Bondsman Near Me

If your loved one is detained, you want to secure their release by all means necessary. Typically, that means using the Moreno Valley bail bonds refinance process, mainly if you cannot afford the set bail amount and premium. Fausto Bail Bonds can guide you through various options while allowing you to keep your finances intact. Since we want to focus on your criminal case, we can set up a payment plan according to your budget and even consider unexpected expenses that might interfere with your ability to repay. We understand that life must continue even after the arrest and can offer affordable repayment plans without hidden costs. Contact us at 855-328-7867 to learn more about your available refinance options.