There has been a significant change in recent years toward bail bonds companies providing not only payment plans but also little to no upfront down fees and interest. Similar to other sectors, such as law companies and medical practices, it is fairly uncommon for customers to simply be unable to afford the service provided unless the company is prepared to assume additional financial risks and provide flexible payment choices. Even credit card bonds have drawbacks, as savvy credit card users may learn after they calculate how much they will pay in residual interest. The payment choices bail bonds firms provide start to look pretty alluring while also becoming subject to credit card late penalties.
Despite the fact that in-house kiosk fees are only 7%, which is far less than the 10% to 15% bail agencies must charge, it is still necessary to pay the full sum; frequently, this is more than the offender can afford. Would the bail industry really rather someone be held in jail for hours, perhaps overnight, so they can charge a $100 minimum fee? This might not apply for small non-felony bonds. I hope the answer is no.
Covert Online Threat.
There is still plenty of time before this option is made available to all jails, but it’s possible that these kiosks will have an impact on tiny mom and pop shops. The relatively new trend of bail bonds corporations using aggressive search engine and social media marketing services poses a greater danger to small businesses. Driving into any city, one is not challenged to locate a bail bonds company, particularly close to jails and courthouses, suggesting that the sector is doing pretty well. Bail kiosks, for instance, could hardly be considered as a crushing blow to the industry if only a small number of firms in a city shuttered.
We may anticipate that over the next five years, smaller firms will be driven out due to growing online competition more than by bail kiosks, since search engine trends reveal a rise in queries connected to San Jose bonds.
The detrimental effects of the recession on the bail bonds market have been well documented in the literature. The market is expanding, as seen by the affordable payment options available. The top earners in the sector regularly make seven figures a year. The number of people holding a bail license alone outnumbers the number of businesses with legal storefront offices, staff, websites, etc. This is comparable to realtors; you can’t expect every person with a real estate license to compete with major real estate firms, just as you can’t expect every bail agent to survive the economic and governmental changes that business must deal with.
The defendant’s accountability.
The bail bonds sector was founded on responsibility, and it still is. To ensure that defendants appear in court and avoid having to wait in custody, bail agents are compensated with a fee. Without abiding by this obligation and maintaining extremely low forfeiture (also known as failure to appear) rates, bail bonds companies cannot be successful. The failure to appear rate will increase if judges allow these credit card bonds to be released, and the cost to the State of hiring people to track down fugitives will increase as a result. For instance, there are more than 100 Las Vegas bail bonds agencies in Nevada. Consider the additional duties and costs that each County would incur if kiosks were employed extensively.
There will always be a need for a group to assume accountability, though. Due to this, the use of credit card kiosks is anticipated to peak and focus on offenders with extremely small offenses (also misdemeanors). In the future, it’s possible that bail kiosks will be sold to bail bond businesses for management within jails. Similar to how individuals may easily buy DVD kiosks from OEMs and provide the movie rental service as a private business. Instead of managing the equipment, the kiosk maker would earn from the sale of hardware. Naturally, there will always be uncertainty about whether the offender will appear in court, even unintentionally, when bail kiosks are offered by jails. Operationally, this is something that kiosk manufacturers are unable to offer, and at their core, law enforcement arrests suspects and fugitives on totally unconnected grounds.
Bail Schedule Expansion.
Judges may set higher bail amounts for defendants who are deemed to be “flight” risks in order to either: (1) directly prevent bail from being posted because it becomes unaffordable; or (2) make sure that indemnitors are so invested in the bond that there is added pressure from family and friends to appear in court. The State might impose larger bail sums for offenses in the event that there was an increase in fugitives if credit card bail kiosks become commonly accepted. Any such reforms would unquestionably benefit the bail bonds sector by making it possible to write averagely larger bonds.
Those who have not need bail bonds services may not be aware that the charge (also known as the premium) required for some offenders may be on par with or even above the typical monthly salary of a doctor or attorney. A good day’s work, yes? The bail industry may anticipate a meaningful rise in revenue if the State raised the bond amount for frequent, lesser crimes. Additionally, even one person or small group of people acting inappropriately might give the idea that a place has a crime issue. Bail kiosks might potentially change the bail schedule for some charges if the number of fugitives grew as a result. Before raising bail amounts, the County may, however, reduce the number of kiosks or tighten the rules governing their use to address an issue. The maxim “If it ain’t broke, don’t fix it” is well known.
