Planning for Your Child’s Future

Ways To Get Cash Fast For Bail

If you've just received a call from a relative or friend who has been arrested and needs someone to post bail, you need to get cash fast. Finding the amount you need for bail can be nerve-wracking, and if you don't have a large cash stash just waiting for someone to use it, you could be thinking you're not going to be able to help. However, there are ways -- you just have to be cognizant of how these would change if the person you're helping out skips bail.

Pawn or Sell Items

For smaller bail amounts, pawning or selling something valuable might work. This isn't going to be a good choice for larger amounts of bail . But for smaller amounts, you might be able to find a few items to pawn. The drawback is that if the person skips out, you lose whatever you pawned.

Cash Advance

If you have stellar credit and huge credit lines, you might be able to get a cash advance or simply use the credit card at the courthouse. The advantage for this is that it's fast; the credit card company can often transfer cash advance funds to your bank account within a couple of days. And if you can use your card at the courthouse, that's immediate help for your friend or family member who is in trouble. The disadvantage, obviously, is that you end up paying a lot of interest if the bail isn't refunded.

Home Equity Loan or Second Mortgage

If you need a really large amount of money, and you own your home, there's always the second-mortgage option or a home equity loan. The advantage is that you can get a lot of money this way. The disadvantage is that your home is on the line. If you can't make those payments, you risk losing your home.

Bail Bonds

If none of the above are feasible for you, there are always bail bonds. Bail bondsmen can help you work out a payment plan so that you can get the bail money you need without dealing with too much financial trauma up front. Bail bondsmen are also available around the clock in many cases. Just remember that if your friend or family member skips out, you still have to pay the bail bond.

Contact bail bond companies now for more information on how to qualify for one. These companies are there specifically to help you in a situation like this.