Bail Bond Company in Tuscaloosa, AL Explains the Effect of Bond on Credit Scores
When posting bail for a friend or family member, people tend to wonder whether or not posting bail will affect their credit scores. Sometimes suspects can be released on their own without costing them a dime. Others, however, have to pay a substantial amount of money to release their loved ones from jail. Bail falls underneath the window of “monetary lending actions”. This means that bail does not really affect one’s credit score because it is minimal and indirect.
Bail does not directly affect one’s credit score because it is attributed to third party intervention. If you cannot easily write a bail check, or if your credit is not high enough to put the expense on a credit card, bail bond companies in Tuscaloosa, AL are more likely to be the next resort. Most times, they are capable of posting your bail for a small fee such as 10%. This expense typically is credible, although it is treated like a credit card cash advance. These can contain the following factors:
- Require interest
- Require a three-percent fee
- Begin accruing immediately
- No grace periods
- Raised balances and loans
The only factor for posting a risk to a person’s credit score would be a raised balance. This is attributed to a bail bond agency’s fee and credit utilization can impact a credit score if it is raised too high. Taking out a personal loan can affect one’s credit score in the same fashion. Posting bail is typically not very damaging. The act is harmless, though it can result in credit-damaging actions. Make sure to discuss any concerns you have with your bail bond agent in Tuscaloosa, AL, such as Alabama Bail Bonds, today.
When you or your loved one winds up in jail, your first call should be to Alabama Bail Bonds. We understand how stressful it can be trying to navigate the bail bonds process. Count on a licensed bail bondsman to make the process as easy as possible for you.
Alabama Bail Bonds of Tuscaloosa County
(205) 339-7109
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