how do people make huge $ bonds?

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There’s a murder story in my home town and the guy had a $6 million bail and paid it. How? I understand there are places you can get bond money but $6 million? Every time i google it, the results are just bail bond links and advice to get off.

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5 Answers

Anonymous 0 Comments

The bondsmen my friend worked for only needed like 10% of the bond and it didn’t have to be in cash.

If it was a $10,000 bond for example you might have $1k in the bank or could borrow it. But often times you could put up the title of your car or home against it if you had $100k or $1mil. Each bondsmen could set his own limits based on the risk you were to taking off and jumping bail.

So if you had good credit and we’re a staple in the community you could get away with 3-5% down.

If you had skipped bail before or had terrible credit or anything else, he would make you have all the money or just not give you a bond because he knew he wasn’t getting his money back and you probably weren’t showing up for court. And that’s when the bounty hunters had to come find you.

Anonymous 0 Comments

You don’t actually have to give them $6 million, you could but not many have that kind of money, let alone as a liquid asset to call upon immediately.

More commonly people provide physical assets or other non-cash securities, so the person would put their house up as collateral, their parents would do the same, the person would say “I have $250,00 worth of apple stock” which can be put towards the bond.

The bond itself isn’t you paying the court to get out of jail (although it may seem like that), it’s actually in the other direction; “if I fail to show up at court, here are a list of collateral to be seized by the court.” So if you run, your house, your parents house, and the apple stock would all become property of the government.

Anonymous 0 Comments

They either have the money and they pay it, or they borrow it and they pay it.

A bail bondsmans will do it, but will charge 10% (non refundable)

Anonymous 0 Comments

If you go through a bail bondsman you only have to put up a fraction (usually around 10%) of the money and he covers the rest. So you can make bail without paying the whole thing, but you don’t get your money back after your trial.

Anonymous 0 Comments

Well, bonds go up and down differently than the stock market. You are buying bonds(loaning money) and getting it paid back with interest. Many different bonds pay different rates and do different things. It’s important to have more bonds when you are retired so that you make steady income instead of potentially losing everything in a downswing.