The Well-Hidden Secrets of Bail Bond Negotiation Process

With so many bail bond companies that work in the state of Minnesota, it is clear that people have a lot to choose from. The agencies need to work under the license of the Department of Insurance. This department states that all companies will charge a 10% fee from the bail amount or an 8% premium. Even if it seems that the rules are straight there are some secrets that will help you out in the process of negotiations.

Lower Premium:

The goal that you want is to be able to negotiate the premium at a rate lower than those eight percent. This lower rate comes with a series of conditions. Your co-signer or you need to be a Union Member, war veteran or US Military. In some case hiring a private lawyer will also qualify for the lower rate. In case you do not find a person that has these qualities, you are bond to pay those 10%. The only thing you could do in this case is negotiate the way the payment will go.

Payment Arrangements:

Most bail bond companies are ready to offer you advantageous payment arrangement. They could claim that you do not need to give them any money in case you have a home that you can present as collateral. Another circumstance is if you have a well-paid job and you are able to get a credit that will cover your payment in one or two days. A good job is that of an engineer, IT specialist, nurse and so on. The truth is that your job may have a lot to do with the amount of money that you need to pay.

Easy Access:

Even if a person is in jail he may have access to these agreements. The defendant can call a company and tell them about his job and the fact that he has a credit card that can be used for getting out the needed cash. After the agent verifies his story and confirms the existence of the credit card, he will pay the bond for the release. After the defendant is out he has to meet with the bondsman in order to sign up the paper and pay him the fees.

“The negotiation is totally easy if a person has enough cash with him or if a relative is ready to pay the rate. The truth is that things will need to move quickly because some people do not afford to spend days in jail and risk losing their jobs. “– Stew Peters (Owner of Bail Bond Agency in Anoka, Minnesota )

You may be able to negotiate with the company regarding your co-signers, payment arrangements, down payment and even the fee rate. In case you or a co-signer has a really good job, this can get you free really fast. The solution is to talk to the bail bond agent and present your situation. He may have a way to get you out and also he will work for your advantage. By following the above mentioned secrets, you will be able to wait for your verdict while you continue living your daily life normally.