Located in Cecil County, Maryland, the town of Elkton is trying out a new approach when it comes to offering bail bond services to offenders in the area. Although the population of Elkton is no more than 15,000 people, the side effects of the Great Recession can be felt even in the smallest areas of the United States. In hopes of adjusting to these unchanging trends, one bail bond business in specific is looking to make the best of a very trying period in the history of the U.S. economy.
Traditional Ways of the Bail Bond Business
Typically, a U.S. offender would have the opportunity to get out of jail on bail if he/she has received a bail amount of $10,000 or less and a family member or friend was able to put forth at least 10 percent of the bail amount. This is because a bail bondsman would require a 10 percent down payment in order for the bail bondsman to post the bond for the offender. The 10 percent down payment is also used to ensure that the offender will appear in court on the date that he/she is required to do so.
A New Approach to the Bail Bond Business
An Elkton-based bail bond business known as Step by Step Bail Bonds is taking a new approach to the changing economic times of the United States. Due to the lagging economy and growing number of unemployed citizens in America, this new bail bond business is settling for less up front when it comes to putting a down payment on getting an offender bailed out of jail. In specific, offenders must be able to put up at least 10 percent of the bail amount to ensure that they will return to court when and as required. However, Step by Step Bail Bonds is not asking for the family members or friends of offenders to pay the full 10 percent up front or at one time. Instead, the organization is asking that individuals pay a money-down fee of only one percent for individuals who are considered "qualified" for a bail bondsman to work on their behalf. The main concern behind this innovative approach is that individuals can no longer put forth the total amount of 10 percent, and they will likely choose not to fork up the cash if they are asked for the total 10 percent.
The Financial Breakdown of Paying a Bail Bondsman in Elkton
Step by Step Bail Bonds is allowing offenders in Elkton to put up the first one percent of the 10 percent bail bond amount required by law. The remaining nine percent can be paid in installments which would be subject to negotiation. Moreover, the installment plan will be suggested to individuals who are unemployed or underemployed, but they need the assistance in getting a loved one out of jail on bail. This change occurred after Step by Step Bail Bonds realized that some families were simply not able to produce 10 percent of $10,000 as typically required of bail bond cases. Even though $1,000 USD is considered relatively low by judges, many people cannot afford to put forth the money when a loved one gets into trouble. Thus, the new financial approach was implemented as a way of dealing with the obvious unemployment problem that is still facing many residents of Elkton, as well as U.S. citizens.