When someone runs afoul of the law, they face a mountain of serious issues. Defending yourself in court, the fear of facing jail time, and the many other legal challenges can cause headaches for someone who is facing these situations. Many will say that the best way to avoid these challenges is to simply refrain from committing crimes in the first place. While that may be true, it is often much more complicated than that. Just because someone has committed a mistake doesn’t mean that they don’t deserve a second chance. One of the most challenging issues facing people in these situations is the financial aftermath. There are many different financial consequences stemming from an arrest. Follow along for some helpful tips on how to navigate this challenging field.
Bail
There are many different financial consequences of getting arrested. Getting arrested is one of the most stressful experiences that someone can go through. When you are arrested you will want to explore all of the resources you have available to you. What the justice department decides to do with you is often predicated on the severity of the crime. Someone accused of a violent crime can be remanded to jail until their trial due to public safety concerns. If you are accused of a non-violent crime and do not pose a threat to the public, you can be released while you prepare for the trial. You will first need to post a bail.
One of largest financial consequences of getting arrested is the loss of income in your job. If you are in jail, then you cannot work. This will cause several negative effects on you financially. If you are out on bail, then you can continue to work and pay your bills. The key will be to actually pay your bail. Bail is defined as an agreement that the defendant will appear for their specified court date. In order to afford bail, many defendants turn to a bail bond company.
Bail bond companies help people in need by posting the bail for them. You will make a commitment to the bondsman you enlist to help post bail. Failing to uphold your end of the bargain will result in strict consequences for you. They may require you to give up something valuable as a collateral agreement. This way they will not take a loss should someone renege on their commitment. There is a lot that goes into the bail bonding process.
The bail bond agents serve an important role in the legal process that you will be facing. It is important that you have a great working relationship with them. This is not an easy situation to be in so it is important that you treat everyone involved with the right amount of respect for them.
There are several important keys to finding the right bail bond company. You want to make sure that you are working with people that you can trust. Your lawyer will be one of the most important people in this legal process that you are facing. They might offer some advice and suggestions on a bail bonding service that can help you. If you have friends or family members in similar circumstances for suggestions. With the right decision you will be able to face the financial consequences of this situation.
There are enough financial consequences during the legal process to give anyone annoying headaches. Getting arrested usually comes pretty quickly and it is not like this is something you can plan for. While no one wants this unfortunate experience, it is best to put your best foot forward. If your life is financially sound to begin with, you will be able to handle this situation with relative ease.
Budgeting your finances is not just a smart move for the legal problems you may face. It will help make your day-to-day life functional. There are several helpful hints on how to budget. One of the most important steps is to document everything. Consider putting all of your finances into a spreadsheet. You can consult this spreadsheet to determine a payment schedule for your bills. This will help prevent you from falling behind and forgetting payments. Unpaid or late payments can carry some severe financial consequences for you.
One of the most concerning negativities of payment failure is a poor credit score. When you have a credit score on the lower end of the spectrum, you will likely face some hardships when it comes to things like applying for a used car loan or buying a house. That is why it is vitally important that you pay your bills on time. If you are struggling, consider contacting the loan provider to see if you can work out some kind of payment schedule. This is especially evident if you are dealing with the financial consequences of getting arrested. It may take time, but practicing due diligence with your bills will help raise your credit score.
There are a number of important steps to take when you are budgeting your finances. One of the most essential keys is prioritizing. What weekly and monthly bills share greater significance than others. Food, medicine, and household utilities will always carry greater weight than any luxuries. Determine if there are things that you can do without. You can either eliminate them completely or scale back on your monthly spending. Consider consulting with an accountant or financial accounting services for help. Another helpful hint includes making a spreadsheet for your finances. This spreadsheet can help you catalog your money intake and outtake. You can refer to these charts on all financial decisions in the future. With the right amount of planning and smart decision-making skills, before long you can achieve financial stability.
Damage to reputation
The negative effects of being arrested can be incredibly disheartening. One of the most concerning financial consequences is the damage it does to your reputation. While it is hard to attach a specific number that a damaged reputation can cost you, there are some severe consequences. Someone who runs their own small business, for example, may lose many customers. This can also affect anyone looking for a new job.
Sadly, many employers will refuse to consider someone who has a criminal record. When someone struggles to find a job, they will struggle to pay their bills. This can have some severe consequences. Without getting that foot in the door, you may feel like you have run out of options. Fortunately, there is some light at the end of the tunnel.
While there is not much that you can do when it comes to companies that refuse to consider you, there are many other employers that will give you a chance. You can consult with your parole officer for job searching advice. A temporary employment agency can be a great option. A business may be willing to bring you in on a temporary status. Since there is no distinct commitment, your employer might be willing to look past your criminal record. If you impress them enough, this can lead to a full-time position. Many employers advertise that they work with ex-convicts. You can look in your area for such businesses as well as any second-chance programs that are available to you. These programs can be a valuable resource in your quest to get you back on your feet.
Different types of bail bonds
When dealing with the bail bonding process, it is imperative that you know the different types of bail bonds. These bonds can help you combat the financial consequences that you are likely to face in this situation. Understanding the different types of bail bonds is the first step in this unconventional process.
A surety bond is a popular type of bonds. In this situation, the bail bondsmen will pay the entirety of the bail for you, under the impression that you will pay them back in full. During this process, you will need to pay the company beforehand. The pay is typically about 10% of the total penalty. This allows them to recoup some of their investment, should the defendant fail to uphold their end of the agreement.
A cash bail bond involves paying your full bail in cash. This is the simplest type of bail but not one that everybody can afford. If you can afford it, this is a process that can be done with relatively few headaches. Another type of bond includes the property bond. In this situation, the defendant offers up a piece of property as collateral. These bonds typically take much longer than your average surety bond. This is because of inspections and the various legal paperwork that must be done. One important item to note is that this bond is not available in every state. Be sure to look up what your state’s laws are regarding property bonds.
A citation release is a bond that is only afforded to a select few defendants. In this case, the citing officer can issue one of these releases. The accused must simply pay off their citation and they will be free to go. This is regarded as a best-case scenario for someone who has been arrested. This is usually only offered in small petty crime cases. Conversely, felony bail bonds are for those involved in the most serious of crimes. The bond representative will act as a go between for the accused and the courts. They will make a promise to the court that this person will appear before the court. As was mentioned earlier, it is imperative that you always uphold your end of the agreement.
Bail bond scams
Another one of the financial consequences you might face in this situation is a scam. People facing the legal process are in a stressful and vulnerable position, which, unfortunately, makes them ripe for a scam. It is vital that you only companies that offer only professional bail bonds and not ones that are just looking to swindle people out of their money.
One red flag associated with a bail bond scam is the charging of interest. They will typically charge the person a percentage of the total bail. You should have to pay that flat rate. A company that charges interest on it should be met with suspicion. Another type of scam is solicitation. If bail bond agents are hanging around courthouses looking for defendants, they are likely running the scam and even breaking the law. It is best to avoid this at all costs and seek out only reputable bail bond companies. You have enough headaches to deal with during the legal process. Getting scammed will just add insult to injury so it is best to avoid them altogether.
Car accidents
Bail bonds are not the only financial consequences of the legal process. For example, you may have been involved in a motor vehicle accident. You might be facing a lawsuit from the other drivers or you may have been arrested as a result of your role in the accident. You will face a multitude of costly steps in this endeavor. Traffic violation bail bonds may be used in less serious cases. No matter the severity, you will need legal representation which will carry some significant financial consequences.
There are a number of costly endeavors to deal with following a car accident. One of the most prominent is the repair work that you will face. If you can walk away from your accident with little injuries, then you should consider yourself incredibly lucky. Car accidents are serious business and we should feel some sense of thankfulness for our survival. The repair work will carry some financial setbacks for you.
If you have auto insurance, your repairs should be covered. Although, some insurance companies may raise their rates following an accident. Make sure to review all the fine print in your insurance agreements. This is not a situation that anyone wants to be in. It is important that you are well-prepared should you be faced with this unfortunate scenario. It is best to be proactive rather than reactive.
There are numerous negative drawbacks to the legal process. Conventional wisdom will tell you to simply not commit crimes and you will not face this experience. It can be much more complicated than that. Just because someone has made a mistake does not mean that their life should be completely destroyed. With the right amount of planning and due diligence, you can take these financial consequences head-on and come out on top.
