2020 statistics show that nearly 1 in every 150 people in the US is detained in a state or federal prison or local jail. What’s more is that almost half a million un-convicted people are in jail because they can’t afford to pay their bail.
However, if you or your loved one have been arrested, you don’t have to wait long months or even years in jail while awaiting trial! This time is essential to start preparing your court case, collect evidence, work with your lawyer, and return to your work and daily life. Spending it in jail instead can have severe legal and financial consequences.
But what if you can’t afford the bail set by the judge? Luckily, there is another option that can grant you release from jail: a bail bond. While most bonds agencies in California will require you to pay 10% of your bail amount to post your release fee to the court, in some cases, you might be able to reduce this down payment to 7%.
So, how do you get started? Learn about the benefits and eligibility requirements of 7% bail bonds in this guide by Balboa Bail Bonds and get out of jail within 10-24 hours!
How Do 7% Bail Bonds Work in California?
7% bail bonds are a subcategory of standard bail bonds. In turn, these are similar to personal loans, which are offered by a bonds agency rather than a traditional lending institution.
When a defendant applies for a bail bond, they will be required to put down an initial payment, which is usually a percentage of the total bail amount. The bail agency will then post the remaining percentage directly to the court.
This process works as a pledge that the defendant will appear at the set court hearing. If it doesn’t they will lose the bail amount or the collateral used as security.
In California, the minimum down payment required by the state court system for a defendant to obtain a bail bond is 10%. This means that the bond agent is not legally allowed to ask for a lower rate.
However, in some cases, you will be able to benefit from a discounted rate of 7%. So, what are 7% bail bonds?
In a 7% bail bond, the defendant will pay 7% of the bail’s total amount and sign a written promise to attend court.
Alongside the defendant, the contract is signed by a co-signer, who is usually a friend or relative of the defendant. The co-signer assets – including the deed to a house or a car – may be used as collateral if the accused misses the set court hearings.
It is important to notice that the minimum percentage to cover in California for a bond agent to post bail is 10%. So, while the defendant will only need to produce 7% of the bail amount at first, they will be required to pay the remaining 3% to the bondsman after their release.
When working with Balboa Bail Bonds, you can enjoy flexible and tailored payment plans that are designed around your unique financial circumstances.
How to Qualify For a 7% Bail Bond
Unlike other types of bail bonds, 7% bail bonds are easily accessible. In most cases, you won’t need to provide one of your assets as collateral, such as your home or car. Instead, if you have a stable job and a positive financial history, that will be the security required by your bond agent!
You should consider signing the bond with a co-signer. Doing so will cause the bond agency to take into account your cosigner’s financial and work history.
Here is all you need to be eligible for a Balboa Bail Bonds 7% bail bond:
- A cosigner, who can be a member of your family, relative, or trusted friend
- California ID
- Proof of employment
And that’s it!
How to Apply for a 7% Bail Bond
At balboa bail bonds, we understand that being arrested and having to attend court hearings can be extremely stressful and demanding. That is why we have made the process of applying for a 7% bail bond as easy and straightforward as possible.
Thanks to our online application process, your family member can complete the application remotely. Alternatively, if you are arranging the bail bond yourself, our agents will meet you in jail or at the local courthouse.
The entire process – filling in the application, signing, and paying – can be completed online. But you will always have an experienced bond agent by your side throughout the entire process!
At Balboa Bail Bonds, our experienced bond agents understand that every defendant’s case is unique. If you are unsure whether you are eligible for a 7% bail bond or not, make sure to get in touch at (619) 432-6345 or contact one of our Southern California offices.
What To Expect from 7% Bail Bonds From Balboa Bail Bonds
When looking for the right bail bond option for your needs, it is essential to choose your bail bond agency wisely. Here at Balboa Bail Bonds, we offer a range of unique benefits to all of our clients, no matter what situation you are in.
Here is what to expect when partnering with us:
- The lowest bail bond prices on the market
- A transparent bail bond service, with no hidden costs or interests that need repaying
- Free consultations, quotes, and information
- A full team of highly experienced bail bond agents, who are bilingual and fluent in both Spanish and English
- 24\7 support via email, phone, or in-person
- 5 full-service offices across Southern California
- Accessible and tailored payment plans that are fully designed around your financial circumstances
- Bail posted via phone or online – release within 7-10 hours!
What’s more is that, unlike most bail bond companies, at Balboa Bail Bonds, we offer discounted 7% bail bonds.
The Benefits of a 7% Bail Bond
The current bail system in California is undergoing drastic changes to give low-income defendants to afford their bail out. However, currently, the only way to legally leave jail before trial is by posting bail or using some of your assets as non-financial collateral.
At the same time, you no longer need to produce 10% of the bail amount to be released. Thanks to 7% bail bonds, you can save hundreds or thousands of dollars, return to work, and start working with your lawyer.
While these bail bonds are not helpful in all criminal cases, they can help you overcome the challenges of being involved in some of the most common crimes, including:
- Domestic Violence – domestic disagreements that involve violence (physical, verbal, sexual, etc.) come with jail time. A 7% bail bond can help you support your case through your trial and answer in front of a judge. Some of the common crimes involved with domestic violence include Domestic Abuse and Corporal Injury to a Spouse or Cohabitant.
- Battery and Assault – battery and assault are two different charges, which are often related and lead to higher bail amounts. They refer to the willful and unlawful use of force against another party. If a deadly weapon is used during an assault, charges may include Aggravated Assault & Battery.
- Child Endangerment – child endangerment, or mental or physical violence carried out against a child, can lead to 2-6 years in prison and bails larger than $10,000. Associated charges include Child Neglect and Child Abandonment.
- DUI and DUI charges – in California, Driving Under the Influence can land you 6 months in jail. But, if an accident is involved, jail time can be as long as five years! DUI-related charges punishable with the harshest sentences in the state include DUI causing injury, hit and run, and related child endangerment. Chemical test refusal can also lead to legal consequences.
It is important to notice that many of these charges are interrelated. And, many defendants will need to deal with the bail amounts associated with multiple charges. A 7% bail bond can help the accused financially navigate the court case ahead.
Can’t Afford It? Alternatives to 7% Bail Bonds
When looking at the right bail bond for your needs, it is important to understand what amount you will need to pay upfront. In California, all bail bond companies are legally required to ask for a minimum of 10% of the total bail amount. However, at Balboa Bail Bonds, we also offer tailored repayment plans that allow you to reduce the amount of your down payment.
Undoubtedly, 10% and 7% bonds are the easiest ones to access, and the eligibility requirements for these services are still limited.
However, if you can’t afford such a large down payment – which could happen in the case of large bail amounts – you could up for other options, such as 0% and 1% bail bonds.
These options are harder to access but, with an experienced bond agent, the help of a cosigner, and the right credit, you won’t need to pay a large amount to grant the release of a loved one.
And, don’t forget that, if you are within certain categories, you can also benefit from discounted rates. These are dedicated to:
- Law enforcement members
- Military and government members
- AARP members
- Union members
At Balboa Bail Bonds, we also offer exclusive discounts for existing clients and their families. Contact our team to find out what discounts you are eligible for.
Help a Loved One Get Out of Jail Today
Finding the right bail bond for your needs, as well as navigating the lengthy legal processes, can be challenging. Here at Balboa Bail Bonds, we are committed to making the whole process easier and more accessible. Get in touch today and get a loved one released from jail within hours!
Tags: 7% Bail Bonds