Bondsman Says 2011 Economy Makes Arranging Bail Harder Than 2010

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Hard Knox, others look to more creative approaches.

Los Angeles-based Hard Knox Bail Bonds today said that many more people then last year are asking for credit and other types of special help to pay the 10% premium that most bond companies charge to put up bail to keep those arrested out of jail while their case is being decided.

One of the biggest trends, according to Hard Knox partner James Kallas, is that the economy has hit a point where home ownership is not the help it once was. “Even a year ago, someone who owned a home was still pretty much guaranteed bail. No more,” Kallas said.

He said, “With many homes valued less than people owe and so many people out of work, the number of requests for time payments to pay the 10% premium have skyrocketed.”

Kallas explained that the actual bail amount is returned in full upon sentencing or dismissal of the court case but bail bond companies charge 10% to post the bond for those charged.

“Today is the worst climate I've seen since I started offering bail bonds more than 15 years ago,” Kallas said.” “In most cases, we've been able to cobble together arrangements. Still, it's tough.”

With homes no longer sure collateral, Kallas said that Hard Knox has accepted a variety of creative approaches to collateral ranging from power tools to furs.

Hard Knox Bail Bonds, http://www.hardknoxbailbonds.com, is a licensed provider of bail bonds and is headquartered in Los Angeles.

Source: Hard Knox Bail Bonds

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