New London CT, 3 Percent Bail Bonds Explained

New London CT

19 March, 2021

2:17 PM

Description

Before we dive into answering the most common questions about 3 percent bail bonds, let's understand bail in New London Connecticut. Bail is a form of insurance that allows defendants await their trial at home instead of in jail. Bail fees are mandated by the state. There is no free bail. 4 Questions About 3 Percent Bail Bonds What are 3 percent bail bonds? In the state of Connecticut, the fees are regulated by the Department of Insurance. Bonds $10,000 and up can have a 3% or less down payment - (eg. $10,000 requires $297.50 down or $100,000 requires $2,505 down). Fees are 10% of the first $5,000 and 7% of the amounts in excess. See CT fees. Payment plans are allowed as long as the minimum down payment is reached. Find more details about our bail financing. Does this mean all I pay is the 3%? You can put the down payment of 3% on bonds $10,000 and up, but you will have to make the payment on the balance. 3-D Bail Bonds offers the most affordable bail bonds payment plans available. Depending on the circumstances, your payment could be as little as $25 per week with automatic credit or debit payments set up for your convenience. How much interest will I pay? There is no interest charged for payment plans set up through 3-D Bail Bonds, Inc. How long do I have to pay? The state of Connecticut requires all payment plans to be satisfied by 15 months from the posting of the bail bond. The state also requires the bail bonds company to seek legal remedy if payments fall behind more than 60 days. 3-D Bail Bonds has a team of experienced account counselors to keep the accounts current. They will work diligently with you to keep your account compliant. I had another company quote me less, is that legal? It is not legal to charge less than the state-mandated fee for a bail bond. The fees are not negotiable as they are required by law to be collected If someone posts the bail illegally the surety bond may not be valid and the insurance carrier may not have to back it with the court. If you have other questions regarding 3 percent bail bonds in New London, Connecticut, please ask in the comment section. We will make sure to answer it. This post was contributed by Drew Bloom at 3-D Bail Bonds.