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In Illinois, there is a 10% rule - you have to present 10% of your bond amount in cash to be released. His wife said she could come up with the $30,000 cash if the bond was dropped to $300,000.
Well, the judge decreased the bond, but only to $1 million. Apparently they can't come up with $100,000 cash, so he's still in jail.
So is here bail bondsman that is picking up the remainder? If not that just makes it look likt they are being tuff saying it's a Million when it is nothing more than $100,000.
I think they take credit cards also. We have the 10% rule as well. The bondsman is more or less a secured mediator with the party that signs the release. So.. it is like co-signing on a loan.. the cosigner which puts up bail acts as a sponsor for the accused and is to gaurantee that they while the person is out of jail.. they'll be entrusted to make sure the person stays true to the terms of bail. The 10% is a deposit that ensures the state that the guy will show up to court proceedings. Whoever puts up the bail post will not lose their cash unless the person jumps bail.. at which point they could potentially owe the entire amount in costs.
I think they take credit cards also. We have the 10% rule as well. The bondsman is more or less a secured mediator with the party that signs the release. So.. it is like co-signing on a loan.. the cosigner which puts up bail acts as a sponsor for the accused and is to gaurantee that they while the person is out of jail.. they'll be entrusted to make sure the person stays true to the terms of bail. The 10% is a deposit that ensures the state that the guy will show up to court proceedings. Whoever puts up the bail post will not lose their cash unless the person jumps bail.. at which point they could potentially owe the entire amount in costs.
Here it has to be cash - you can only use your credit cards by getting a cash advance from them. There's something with the bondsman or forfetting the entire bond amount - I don't remember all the details. But I do know that here you actually have to have the cash.
Thanks everyone for the good thoughts on everything. I can't wait till all this crap is done and over.
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