What is a secured bond in North Carolina

When you commit a crime, you are arrested by the law enforcement agencies – in other words, the police. Then, you are taken to the jail pending trial. In most situations, you may not stay in jail until your court date. However, for this, you need to pay bail for your release. This amount is a guarantee that you will appear before the law court for trial. You will get the bail amount back if you show up regularly.

There are two types of bail bonds – 1) secured bail and 2) unsecured bail. Let us tell you about them. Keep reading!

Secured Bail

A secured bail bond means paying money to secure your release. In simple terms, you pay to pay money or collateral when the bail amount is set and/or you go to jail.

Unsecured Bail

Unsecured bail means a bond, which holds the accused liable for breaching the bond’s conditions. In this case, you will have to sign a contract or agree to go to court. If you fail to do so, you promise to pay later the agreed amount before the court.

Difference between Secured Bail and Unsecured Bail Bonds

You need a bail bond to get out of jail. When it comes to the secured bail bond, the lender or bondsman ensures he or she gets the money back. Consequently, the lender will demand some sort of security – which in some cases is the real property.

Not showing up in the court means forfeiting the security to the lender. He may demand your car or house as security. However, if you continue to show up for the court trial, you will get your property or car back.

Moreover, you must not skip town as it can be troublesome for you. In such a situation, the lender or bondsman will keep the title to your house or car. Other types of secured bail bonds may involve security such as stock in a company, a piece of jewelry, etc.

Unsecured bail bonds are also known as “signature bonds.” They don’t have anything as security backing it up. In this type of bail, you just need to promise the bondsman to appear before the judge on the scheduled trial dates.

It is important to know that unsecured bail bonds are riskier for the bondsman. This is the reason for its unavailability to everyone found guilty and/or accused of delinquency.

Primarily, you can qualify for this type of bail bond if you have lived in the neighborhood for a long time. Secondly, having good credit or involved in insignificant crime also allow you to qualify for the unsecured bail bonds.

Furthermore, an example of a secured bond can be mortgage-backed securities, which are secured by the titles to the residence of the borrower, the physical assets of the borrower, as well as by the income stream from the mortgage payments of the borrower. On the other hand, all owners of unsecured bail bonds can claim on the assets of the issuer (defaulted). However, this can only be done when investors’ securities – higher in the capital structure – are paid first.

If you need any assistance with bail bonds, you can find your local bondsman here.

There are currently over 36,000 people on the criminal justice system books in North Carolina alone.

With arrests occurring on an almost daily basis, you may have some concern about what happens if a loved one ends up on the wrong side of the law.

While you hope not to deal with this stress-inducing predicament, it’s important to understand your options if an arrest occurs close to home. One thing you need to understand is bail vs bond. These terms are closely related, but there is a difference between bail and bond.

The Difference Between Bail vs Bond

Before you make decisions about getting a loved one out of jail, make sure you understand all your options. It might be an expensive process. Make sure you understand bail, bond, and the connection between the two terms.

After the arrest of a loved one, there are a couple options. If you cannot produce the necessary funds or bail is revoked, they will stay in jail until their court date. If someone is able to pay bail, your loved one can be released provided they show up to all court dates. If funds are not readily available, a bondsperson may be able to provide a percentage of the bail to allow for release.

So how do you determine your options?

What Is Bail?

After an arrest, an amount is set based on the severity of the crime, the flight risk involved, past record, and other points. This amount is determined either at the time of arrest or during a bail hearing. The amount set is the bail amount.

This bail amount is what’s required for the release of the defendant before their court date. The bail amount acts as insurance towards a temporary release for the defendant. As long as the person shows up to all court dates and pays the bail, you will receive a refund on the amount spent.

If the defendant flees or refuses to show up to court dates, the court requires all further bail paid immediately and may add other fees. This adds an incentive to the person paying bail to make sure to show up when required.

But what happens if the bail amount is too expensive for you to pay up front?

An Unsecured Bond

When the bail amount is too steep, there are different types of bonds available. The two main types of bonds are secured and unsecured bonds.

An unsecured bond is the least common type of bond for release from jail. With this bond type, the defendant signs a waiver promising to show up to all court dates. After signing the waiver, the system temporarily releases the defendant without paying bail.

If they show up to the required court dates, no fee will be required. If they do not show up, the full bail amount will be required immediately.

The chances of receiving this type of bond are slim. More than likely, you will have to set up a secured bond.

A Secured Bond

A secured bond is an upfront percentage of the bail amount paid against release. This can be done through a cash amount or by using a property as collateral. If cash is used, the bond amount is usually 15% of the original bail amount. This percentage can differ on a case-by-case situation, however.

The easiest way to secure a bail bond is to go through a bail bonds agent. By going through a licensed bondsperson, you can ensure the bond amount can be paid upfront while setting up a payment option. The bonds agent acts as a loan officer in this way.

The bond office will set up the payment process with the courts and pay the bond amount up front. The person acting as the responsible party for the bail will then set up a payment plan with the bonds office.

While the amount loaned by the bonds office will not be paid back, no other fees will be required as long as all release requirements are followed. The bond office promises the full payment of any bail amounts required.

If the defendant shows up to all court dates, the only fee required will be the completed payment of the bond insured by the bonds office. If the person flees or refuses to show up, the situation becomes more expensive.

Any refusal to comply with release requirements will require full payment of the bail. While the bonds agent will ensure this payment is made, they will require the person responsible for the loan to pay all bond payments, all remaining bail, and other fees necessary.

If you decide to use a bonds agent, it’s important to make sure your loved one shows up to all necessary court dates.

How Do You Get Your Money Back?

While you will not receive a refund on any bond paid through a bonds agent, you can recoup other bail and fee requirements. To make sure you get other money back, it’s up to you as the responsible party to make sure your loved one complies with the court.

The best way to make sure you get your money back is to keep up with all court dates and other requirements. Make sure your loved one does not leave the state, does not get arrested while out on bail, or any other rules placed on the bail.

By getting someone to follow the requirements placed on bail, you can cut the out-of-pocket cost to yourself. Also, make sure the bonds agent holding the secured bond has all the necessary documents and payment information so no other fees come up.

Finding a Bail Bondsperson

If you find yourself in need of a bonds agent, make sure you understand everything there is to know about the bail vs bond process. If you need more information or need to contact someone for help with the bond process, check out our bonds service process.

When you post bail to get out of jail in Raleigh, North Carolina you will most likely have a secured bond in which you will have to use a bail bondsman or bail bond company. When it comes to a secured bail bond, the surety or bail bondsman in this case, will post bail through an insurance company in which he or she has underwriting authority for the amount of the bond. A premium or fee is charged by the bail bond company and they ensure the courts that the defendant will appear in court. 

In some cases the bail bondsman will require some sort of additional collateral to post bail– in those cases a house is required as collateral. Car titles and jewelry are not accepted. 

Failure to appear or not showing up in the court means forfeiting the collateral to the state or bail bond company. The bail bond company will file a civil claim against the defendant and all those involved in posting bail in order to satisfy the judgment of the bail amount. However, if you continue to show up for court, you will get your property back at the completion of the case. 

On the other hand an Unsecured bail bond is also known as a Written Promises to Appear. In an unsecured bond there is no security or collateral to secure the full amount of the bond. In this type of bond you just need to promise that you will appear in court on a set date. 

It is important to know that unsecured bail bonds are riskier for the state and county. This is the reason for its unavailability for everyone depending their past criminal history. 

Primarily, you can typically qualify for this type of bail bond if you have never been in trouble before, no pattern of repeat offenses and you pose no threat to yourself or others. 

Similarities

In both, secured and unsecured bail bonds, they are similar in the fact that both have to do with your condition of release options and whether or not you have to pay to post bail in order to be released. These two also play an important role in court appearances and whether or not you are financially liable to the courts.                  

Differences

Secured bail bonds needs money to be paid to a bail bondsman or bail bond company before release and may require additional collateral while an unsecured bail bond does not. You will only be asked to make promises or sign a written agreement to appear in an unsecured bond. 

However, the unsecured bail bond is much riskier since there is nothing used to back it up. In Raleigh, NC at the Wake County Detention Center this type of bond is not very common. It is not available to anyone accused of a serious crime and other more serious charges such as drug trafficking.

How Do I Post Bail?

If you or a loved one has been arrested and given a written promise to appear on an unsecured bond, you will not have to post any money or find a bail bondsman. Instead, the defendant who was issued either a written promise or unsecured bond will simply need to fill out some paperwork and the local jail and wait for processing and their release to follow.

On the other hand, if the defendant was given a cash bond they will need to come up with the entire amount of the bond and make payments at the Wake County Detention Center.

The more difficult  process in posting bail happens when a defendant is issued a secured bond. If the secured bond is set low enough for  the defendant they may be able to have a family member or friend cover and pay the bond amount for them . If the secured bond is set at an amount that the defendant cannot cover the amount, they are able to hire a local bail bondsman or bail bonds company to assist them in securing their release. 

When you hire a bondsman in Raleigh, North Carolina they generally charge between 10-15% of the total amount of the bond to for their services. Once you hire a bail bondsman, they will go to the local jail holding the defendant and post the necessary paperwork from the surety (or insurance company) they represent to secure the defendant’s release.

In addition to hiring a bail bondsman and paying a fee to post bail. Please note that in most cases  in order to post bail in Raleigh, NC at the Wake County Detention Center on Hammond Rd. a application must be filled out prior to posting bail by a qualified co-signer, usually a family member, who is at least 21 years old, gainfully employed, a resident of the state of North Carolina who is also willing to provide at least two personal or work related references. 

If you or a loved one has been arrested and need to understand your options in posting bail bail call Winston Bail Bonding at (919) 819- 6918 to get your 24-hr free consultation.