Ideas To Get Funding For The Bail Premium
So, your brother just got arrested for his SECOND DUI by the OCSD.....now what? You've checked the Bail Schedule for Orange County, and you find out his bail will be set at $10,000. The premium you will need to pay to a bail company $1,000. What do you do if you don't have the money? You have several options:
- Car Title Loans - An Auto Title Loan is when a company will use the value of your vehicle as collateral for a loan to you. Payments can be made on a fixed schedule, so the loan can be paid in full in a short amount of time. The upside is that you get to keep driving your car. The downside is that you typically own the vehicle outright, so that the loan company can put a lien against your vehicle. In Southern California, there are several companies that do it. In Ventura County, Aztec Title is able to forward your loan request to multiple lenders. In Orange County, Yelp offers reviews of pink slip loans.
- Payday Loans - A payday loan advance is a controversial type of loan. This involves lending money against your future payday. The problem is, they come with HUGE interest rates.
Whatever route you take to finance a bail bond, whether it's an auto title loan or a payday loan, you'll be paying a high interest rate. It's often better to borrow the money from a relative.