Posts made in August, 2015

5 Types Of Bail Bonds You Should Understand

One of the rights afforded to Americans is the ability to post bail after being charged with a crime. The process of posting bail can be a tricky one, especially if you do not know what type of bail you have been assigned. Before you lose hope, consider these five common types of bonds.

1. Released on Own Recognizance

When one is released on their own recognizance, they may not necessarily be required to actually pay money. Instead, they simply promise to attend all court proceedings as well as to avoid illegal activities in the interim. Unsecured bail is similar; however, unsecured bail requires that the defendant pay a fee if he or she breaches the bail’s terms.

2. Percentage Bail

This is a common type of bail in which the defendant deposits a small percentage of the bail amount upon leaving. The percentage is usually about 10%.

3. Surety Bond

This type of bail ensures that a third party is responsible for the defendant’s debt. These are the bonds you are likely to get from a bail bondsman. The agent receives 10% of the amount of bail up front, and they keep the funds whether or not the defendant comes to court. Some states, including Oregon and Kentucky, do not allow surety bail bondsmen. In these cases, bail is paid to and returned from the court without any violations of bail.

4. Property Bond

This type of bond requires the defendant to put up property equaling at least half the amount of bail. If the individual fails to appear in court, he or she may experience foreclosure.

5. Cash Bond

A cash bond requires the defendant to pay the entire amount of bail in cash. This money is returned to the defendant at the conclusion of the case. This is the option chosen if the judge believes that the defendant poses a significant flight risk. If the defendant fails to show up for court, the judge will issue a bench warrant and the defendant will forfeit the cash.

Some judges will issue combination bonds that allow the defendant to use several different methods of putting up bond. Additionally, some judges will put certain limitations on bail, sometimes in the form of protective orders and other conditions of release. No matter the case, understanding the way bail bonds work in the United States can help you move forward with a plan. Contact a bail bond company, like  All-Mobile Bail Bonds, for more info.

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Payday Loans Could Help You Overcome A Financial Disaster While On Vacation

Payday loans usually serve as solutions to common unforeseen emergencies such as car troubles or medical expenses. In reality, a payday loan could be very helpful when trying to address any type of crisis. Imagine if your credit or debit cards were stolen while on vacation. A payday loan could aid in overcoming the resultant financial woes.

Lost or Stolen Credit and Debit Cards Create a Catastrophe

Losing your credit/debit cards while on a vacation hundreds of miles from home leaves you at the mercy of the cash in your pocket and the very little remaining funds in your bank accounts.

Do not panic. Requesting a cash advance through an online payday lender provides an immediate solution. Once approved, the loan funds will be directly deposited into your checking account. As long as you can access the funds in the account, your money troubles are solved.

Accessing Your Loan Funds

Even if you do not have a working debit card, there are other options available to access the funds.

  • Explore Shared Banking

Visiting a local branch of the bank you do business with is the easiest way to withdraw the funds. If there is no local branch, see if your financial institution is affiliated with a shared banking network. Shared banking allows an account holder to conduct withdrawal and deposit transactions with other financial institutions in the same shared network. If a participating affiliate is in the vicinity, head there for a withdrawal.

  • Use a Money Transfer Service

No rule says you can only transfer money to another person. Once the loan funds are in your checking account, immediately wire the money to yourself. Then, go claim the cash. The drawback here is you may have to wait a day or two for the bank transfer to go through.

  • Keep a Check on File

A “quick cash” option would be to make out a series of $100 checks made out to yourself. Once the loan is deposited, go to a check cashing service to redeem the checks. Since you do no know how much money the loan will be approved for, keeping five emergency checks for $100 on hand helps you avoid having only one check and not enough funds in the account to cash it.

Ultimately, no matter where you are in the world, as long as you have a paycheck forthcoming, borrowing options exists. Just be sure you have a plan in place to actually procure the money.

For more information about payday loans, contact a company like 1st Choice Money Center.‚Äč

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