The bail bonds industry is much like any other industry that is currently available to the public, in the sense that not all businesses or firms operate honestly. How do you know if the services that you are providing are feasibly valid or whether you could get swindled by someone who offers you help? Checkout Connecticut Bail Bonds Group.
Although there are a select few companies out there that are not conducting business in an ethical fashion, the bail bond industry is heavily regulated. It is also beneficial to look into the company’s background as well as face-to – face meetings with their bonds agent when selecting a bondsman before agreeing to any arrangements. In recent years a number of bond companies have been under investigation for malpractice. Most of these cases included interference with the fugitive recovery officers or bounty hunters attempting to apprehend a jumper. In some cases criminal charges have been filed and tried for wrongful detention proceedings against bounty hunters.
When choosing a bondsman the first thing to remember is that if it sounds “too good to be true,” it actually is. When you are given “no money down” or “nil down” loan by a bondman, you will consider moving elsewhere. The premium amount paid for the bond is determined by the state’s insurance department that the agency operates in and should be consistent for all state-owned bond companies. Once this payment is received, the agent will have to pay a large portion of the designated state fee (10 per cent in California) to their financing company. It is one way a customer can spot an agent with “unethical” bonds. How can this business stand to profit if, when their security company needs to be paid, they provide a loan without money down?
Usually an entity may require the co-signer to put up a “mortgage” or security interest in physical property in order to secure the amount of the loan in case the bailee skips the date given to them by the judge. When selecting a “no money down” bondman it is common practice for these agencies to use the collateral mortgage over the head of the co-signers to secure the 10 percent bond premiums. These types of agencies tend to use collection methods and etiquette which most bond agencies do not practice. Although this isn’t always the case, a company that offers a “zero down” bond usually has a motive behind this sales pitch that appears to favor the firm over the client.
While the bail bond industry is one guided by desperation in the needs of the customer, a customer choosing a reliable bailer will take some time to ensure that the option they have chosen meets the customer’s best interests. All bail bond companies are expected to charge the same sums depending on state legislation, and a legitimate bond company is genuinely defined by the standard of service.