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BAIL BOND FEES ARE SET BY LAW
In Maryland, like most states, the cost of a bail bond is set by law. As a consumer, you should know that the fee for the bail bond is set at 10% of the full bail amount. For example, if the full bail amount is $25,000, which is the average bond in Maryland, your cost is $2,500. Keep in mind that these rates are non-negotiable and are set by the Maryland Department of Insurance. There should not be any hidden fees or taxes from the bail bond company.
This makes it easy because as a consumer shopping for a bail bond, you don’t need to call multiple bail bond companies to compare rates. Legally, it should all be the same 10% rate.
CHEAP BAIL BONDS ARE ILLEGAL
Often there will be the bail bond companies or bondsmen that try to get your business by offering you a discount, or cheaper Bail Bond. You should know that it’s illegal to charge any more or less than the state approved rate. If you come across a company that is trying to offer you a cheaper or lower rate, keep in mind that they might be acting illegally or it could be a “bait and switch” situation where you get in the office to sign the contracts and they’re offering you what you thought was one rate, it could be something else. Also keep in mind if you’re using your house for collateral: do you really want to be using a company acting unethically. At Lawyers Trust Bail Bonds you’re always going to get the state approved rates.
PAYMENT & FINANCING A BAIL BOND
We offer affordable and flexible payment plan options. We tailor our payment requirements to your individual situation. Our bail bond agents can help you select the best option for your situation.