Cash Bail Bonds
Maricopa County Arizona
What is a Cash Bail Bond?
A Cash bail bond is a court-ordered bond that must be posted as cash; neither the jail or the court will accept anything but the full amount of cash for the bail. Phoenix bail bondsmen cannot use a Surety bond when the court orders the bond to be posted in cash. Cash-only bonds must be posted in cash, although some jail may accept a cashier’s check or money order.
How Much Will I Have to Pay for a Cash Bond?
Cash bonds will cost more than a typical Surety bond, which usually sells for about 10% of the bond amount. Expect to pay 25% to 50% of the full bail amount depending on what you have for collateral. The better the collateral, the lower the fee. The fee is non-refundable. For example, a $2,000.00 cash bail bond will cost anywhere from $500.00 to $1,000.00. Cash bond fees are similar to obtaining a loan. The better the security, the lower the rate. The less risk we have of loosing our investment the less you will have to pay. The Court assigns a cash bail bond to a Defendant because the Court believes the Defendant is high risk. Cash bonds are the riskiest sort of bond anyone can post.
What Do You Take for Collateral?
We take the same type of collateral on a cash bond as we do on a Surety bond; see our Collateral Guide. Collateral held in hand is more secure than something we cannot physically hold. The best type of real estate is property that is free and clear with no liens on it. The best car for collateral is one that is parked in our storage unit, not being driven down the street by you.
I Don’t have Collateral, What can I Do?
We don’t offer no-collateral bonds anymore, but if you can’t get friends or family members to help out, your only options would be to try for a bond reduction – targeting the cash amount you have on hand. Most clients try for bond reductions when the bond is large and unaffordable, however, be sure to tell your attorney what you can afford. If you don’t state what you can afford, you may be disappointed with the reduction amount.
What about using a Credit Card?
Credit cards are great. If you can allow us to charge the full amount of bail and fees to a credit card, we can post your bail for a 10% fee. When the case is over and the bond has been exonerated and returned back to us, we will return your full bond amount (10% fee excluded).