Although operating a bail bond business is in no doubt lucrative, there are certain factors to consider and issues that may arise which constitute severe consequences for the bail bondsman. Most people who are bailed out of jail by ever-ready bail bondsmen in Orlando return to court for the determination of their case, which is good for the bondsman.
Sometimes the bailed party puts up a fight, looking for ways to escape the law, and this presents a very challenging and danger to the people tasked with bringing criminals to justice. Bail bondsmen in Orlando face grave consequences if a criminal defendant who they posted bail for jumps bail.
Due to the nature of risk undertaken by posting a bail on behalf of a criminally accused client, most bail bondsmen in Orlando consider themselves as a private extension of the jail. They render a unique service that allows incarcerated individuals to get out from jail which otherwise they might not be able to do. Most the bail bondsmen in Orlando will readily admit that their main target is making thousands of dollars in profits where possible and getting back positively on their investment, and that’s quite incentive to get their man.
The typical bail bondsman will usually spend much time on the phone, but when the hammer falls that the individual bailed out from jail refused to turn up in court as expected, it takes more than just a phone call. The sweating period has just begun! If the bail bondsman is unable to bring back his client to court, he has no other option but to liquidate the bond and from his pocket pay out cash. Such money will be given to the county district.
Below are some of the risks faced by bail bondsmen:
It doesn’t matter whether there is a 5% down payment or whether the person bailed out from jail has appeared in court one or two times; there is always the possibility and concern that someone might skip bail. Once this becomes the case, the bail bondsman is saddled with the responsibility of either seeking out his runaway client or revoking the bond and paying the sum in full, especially when there is no co-signor for the fugitive or where the total bail bond amount is large.
If a client skips bail, the court will usually give the bail bondsman in Orlando six months to bring back his client to court. The bail agent will make some phone calls to the family or friends of the runaway fugitive to get him back, but when this fails, the bail bondsman will have to call in the bounty hunters, and they will need to be paid.
If the bounty hunter can't locate the criminal, the bail bondsman will have to notify the court in writing, and send a check containing the full sum of the bail amount, and then proceed against the co-signor to retrieve the money. The fee is usually referred to as forfeiture fee and is one hell of a price that no one wants to pay—whether the co-signor or the bail bondsman. The fee in some cases could amount to $20,000 or $30,000.
Now you know how risky the job could be.
For bail bondsmen, writing bail bonds in Orlando is all about managing risk, and it’s no surprise that at times, some bail bond companies turn away some clients. There are instances where the family of a loved one arrested will call a bondsman telling him that they have some good amount of money, and are ready to put down their signature upon any paper work presented by the bondsman.
At this stage, the bail bondsman will start his investigation by asking some serious questions and assessing the risk to determine how likely and possible it is that the defendant will fulfil their legal obligations. Knowing this is very critical to the bail bondsman because he knows that paying some amount of money is just enough to secure the faith and responsibility of the client. However, there are instances when the bondsman may get inadequate information regarding the defendant and his family members – the situation with their job and the nature of the charges against the accused. When this happens, bearing the risk through the bond becomes more and more appealing and less risky.
Notwithstanding, a defendant who is virtually unemployed, couch surfing, and doesn’t maintain regular contact with members of his family and only goes along with a pre-paid mobile phone, is a red hot, walking risk. That is much more different from someone with a job, has a steady routine and has lived in the area for some time.
If the accused person in custody is the type that doesn’t work, has no real or predictable ties to the community, and doesn’t sleep in one location, there every possibility that the bail bondsman will politely decline to act on his behalf. The odds are just too risky to bear.
Furthermore, experienced bail bondsmen in the bail bond industry designate as “red flag charges,” and in some cases, a bond is shot down depending on the nature of the crime the defendant was arrested for some charges. But you may ask: why? Because, the entire risk is just too high, and the possibility the whole situation could become a major headache along the way, is genuine.
You just can’t trade with what or whom you don’t know. Thus, bails bondsmen in Orlando, understanding the risk involved in doing business with someone with no good reputation, will also need to ask questions and verify the nature of people that come needing bail bonds. In some cases, some bail bondsmen will even demand that the client or co-signer provide a social security card, a mortgage or recent utility bill to prove their residence. Some agents may even go further in requiring a recent pay stub as evidence of employment. All these are done because of the enormous risk of losing out involved in posting a bail on behalf of a criminal defendant.
There are no careers, jobs or businesses that’s devoid of risk, and certainly, the bail bond business possesses some notable risks to the bail bondsman. However, the power of choice and risk assessment can mitigate the act of falling into the wrong hands.
For expert advice and tips on bail bonds in Orlando, call us today.