A bail bonds agent or bail bondsman is a person or company who pledges their money as bail for a defendant under the condition that the defendant will show up to court. A percentage of the bail is paid to the agent. In most cases, some kind of collateral is put in place. For instance, if the defendant does not show up to court, the bail bonds agent may seize their property as compensation. These people are super handy if you end up in jail and need help.
Although it’s a tough job, being a bail bondsman has several advantages. First, it pays well. Bond dealers can earn up to $50,000 to $80,000 per year. This is quite a tidy sum for their troubles. If you are self-employed, you get to set your own commission so you can earn even more than this.
Second, You can own your own business. Once you are licensed, you can be hired by a company or start your own business. Starting your own business is best once you have acquired some experience. Having your own business allows you to have flexible working hours and gain more profit.
Third, It is never boring. It simply never gets boring in this line of work. With constant interactions with court officials and sometimes having to track down clients who have run off, it is always interesting.
Well, if this seems appealing at all to you, continue to read to learn how you can become a bail bonds agent. The process of becoming a bail bondsman varies slightly from state to state, but the general process is as outlined below.
The first thing you need to do to become a licensed bail bondsman is to ensure your eligibility. There is a set of conditions that you must fulfill if you want to join this line of work. You must be 18 years and above, have a high school diploma or GED, have sufficient financial resources to meet all surety obligations and have the sponsorship of a surety company. Additionally, you must be willing to attend and complete a pre- licensing course and pass the state licensing exam. In most states, this exam contains 50 to 60 multiple-choice questions to be completed in an hour’s time. The exam usually costs around $40 to $100 and is administered by a variety of independent test providers.
Second, you will want to apply for a state license. In order to receive a state license, you will be required to submit an application that is only found in the state’s department of insurance website. Submit your state licensing exam score and provide a licensing fee in the form of a check, money order or credit card. You will also be required to provide documentation of surety company sponsorship and submit a bond for a state mandated amount. Your license will take 1 to 3 years to be in force.
Third, you can join or start a bail company. Most newcomers join an established company first to gain experience before starting their own. This way, they can learn the tricks of the trade before going out on their own. If you are looking from great information on how to get started from a reputable bail bonds company, click here. Whichever you choose is ultimately up to you. Good luck and let me know if you want some more information on this subject.