Bail bonds are usually a simple cash or credit transaction. Usually, a Dallas bondsman may not require a credit check to start the application process. However, this doesn’t mean your credit score couldn’t change if you purchase a bail bond.
You can obtain a bail bond by several means and some of them can impact your credit score. Here’s a look at some of the most common ways a bail bond can negatively impact your credit
Credit Card Bail Bond Payments
You can use your credit card to pay for a bail bond. As long as the credit is there, the bond will be paid and your loved one released.
Like any other credit card payment, the credit used on a Dallas bondsman must be paid back on time. Regardless of the item purchased, late payments on credit card bills can always have a negative effect on your credit.
Especially with a bail bond, high charges mean your balance can raise it to the point of affecting your credit score.
Jail and the bail process are tough enough. Before swiping away your finances, ensure that the funds for repayment are available.
Sometimes bail may be too much for a family to financially handle. So, some people resort to getting a quick loan to pay for a hefty bail fee. While this isn’t necessarily a bad approach, people should still understand what they’re getting into with a personal loan.
Depending on where the personal loan is obtained, your credit could still be checked, and this could have a negative effect on your score.
The next key consideration is obviously the repayment of the loan. Much like a credit card payment, if a personal loan isn’t paid off, the bills will be sent to collections and it’s definite that your credit will be harmed.
Failure to show up in court creates some serious financial problems that quickly impact your credit score. When someone skips bail and misses their initial court hearing, the entire amount of the bail is transferred over to them for repayment.
Not only are you going back to jail, but now the repayment is a financial burden on you or your co-signer. This can lead to an impacted credit score if left unpaid or in the instance where a personal loan is taken out in order to take care of the large payment.
Make 1st Call Your Dallas Bail Bond Choice
While we can’t guarantee that your credit score won’t be affected by how you pay for a bail bond, we can guarantee that your loved one will be swiftly released with our help. 1st Call Bail Bonds is a Dallas bail bond office that is open 24/7 and ready to take your case, no matter what the offense is. Contact us today to get the bail bond process started!