One of the most common questions that people ask when they are arrested is how much their bail will be. For example, if you or a loved one has been arrested and the bail is set at $500, how much is a $500 bond? Let’s break it down.
How much is a $500 bond?
To answer this question, you first need to understand that bail and a bail bond are two separate things.
Bail is the amount set by the court to secure the defendants release as they await trial. The defendant can either pay the total bail amount or seek out a bond — or bail bond — from a bail bond company. To do this, the defendant will only be required to pay a 10% fee to the bail bondsman. However, this fee is non-refundable.
That being said, what if bail is set at $500? If bail is set at $500, you will likely pay around $50 to a bail bondsman — which is 10% of the total bail amount. There may also be processing fees associated.
In addition to the initial fee, you may also be required to provide collateral against the bail bond, which can include property, a car, or other valuable assets. If you fail to show up for your court hearing, the bail bond company may seize your collateral to cover the cost of your bail.
