Dealing with Bail Bonds: Does it Impact My Credit?

A common misconception is that dealing with bondsmen will negatively impact credit your credit score.

MINOLTA DIGITAL CAMERAMost people in America don’t have the cash to pay the bail needed if they or a loved one happens to land in jail.  That is where ATX Bail Bonds comes in to provide service and help you to pay the bail, so that you can get your loved one out of jail before they stand trial.

Does this effect your credit score?  Let’s say, for example, the bail was set at $25,000.  If the defendant does not appear in court, then the full amount of fees and services charged by the bail bonds agency is now the defendant’s (or whoever signs the contract for the bail) responsibility to repay.  In many cases collateral is used, such as a home, to secure the bond.  If the defendant does not appear in court then the assets used as collateral are forfeited to the court.

Sometimes there is a grace period to try to arrange payment to the bail bonds agency, even if the bond went in to what is called “default”.  Often there may be a statutory period where you may be able to turn in the defendant to the courts to get the bond out of default status, and saving your credit score from the bond going into collections.

The worst case scenario if the defendant appears in court would be a hard inquiry on your credit report or a very slight impact on your score if you happen to use a credit card.  The credit score entities don’t care what the credit or money was used for, only that it was paid back within the parameters set forth in the agreed upon contract between the bondsman and yourself.

ATX Bail Bonds wants to help you make the bail process as quick and painless as possible.  Part of what you pay for is exceptional service and we look to provide that for each and every client.  We also have financing available for those unable to pay right away.