How Do Bail Bond Installment Plans Work?

DFW Bail Bonds

The stress of being arrested in Dallas is heavy enough, but imagine how your family and friends are feeling when they can’t afford your bail bond! Everyone has different circumstances and sometimes even the cost of a bail bond can be unfeasible. 

Nobody wants to leave their loved ones behind bars. That’s why 1st Call Bail Bonds is here to show you there are still options available when the money you need is tight.

What If You Can’t Afford the 10 Percent on a Dallas Bail Bond?

Put yourself in this situation. You’ve gotten that 3 a.m. phone call and one of your kids has just been arrested. Your first response is to rush to a Dallas bondsman for a bail bond to bring your loved one home that night! 

However, upon arrival, you find that even though 10 percent is the standard cost of a bail bond it is too much for your budget. Fortunately, you are able to request an installment plan that will help cover the bail.

What a payment plan does is allow you to make set installments after paying a down payment on the bond. Think about this down payment as you would for any installment plan. The higher your down payment is, the more reasonable your installments and the more eligible you become for installment approval.

Don’t Forget to Negotiate Your Price

The bail bonds process is part of an industry, but we still like to make sure your payment plan is something you can live comfortably with. If you are approved for a plan, make sure you are able to negotiate a set amount that prevents you from:

  • Missing any payments
  • Losing your collateral

Think About Interest Rates During Installment Payments

Much like a standard loan, bail bond payment plans can have interest added on at the end of the day. Based on your payment plan agreement, your bondsman will be able to best determine an interest rate that fits the situation.

Payment Plans Aren’t Always Guaranteed

The downside to the bail bond installment plan is that it isn’t always an instant approval situation. When determining the potential of an installment plan, a bondsman has to put their lending cap on and consider some serious factors of eligibility. 

Some factors considered during installment payment approval are:

Note that if you can’t meet these requirements, you can still have someone cosign the bail bond who demonstrates the necessary financial responsibility for this type of loan.

Need a Dallas Bail Bond? 1st Call Bail Bonds can Help!

If you’ve recently been arrested in Dallas, a bondsman at 1st Call Bail Bonds can get you out of jail fast. We understand that not all families can afford bail and that’s why we are dedicated to helping our customers meet their needs in a way that suits their pocketbook. Contact us or stop into our 24/7 offices to get the bail process started.

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