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#1
10-23-2006, 05:38 PM
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How do college kids get $500,000 to post bail??
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#2
10-23-2006, 05:40 PM
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Re: How do college kids get $500,000 to post bail??
Are you serious? You realize he only needs to post $50,000 and the bondsman signs for the rest.
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#3
10-23-2006, 05:40 PM
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Re: How do college kids get $500,000 to post bail??
rarely must you have the entire 500K. There are several avenues that can get you out for ~10%. Also, college kids usually have parents etc.
pjn
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#4
10-23-2006, 05:40 PM
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Re: How do college kids get $500,000 to post bail??
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#5
10-23-2006, 05:41 PM
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Re: How do college kids get $500,000 to post bail??
Rich parents maybe? My good friends college buddies just got a federal indictment handed down, he had about 20 calls the day after (he had to change his cell number) from these kids asking to borrow 100k+.
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#8
10-23-2006, 05:43 PM
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Re: How do college kids get $500,000 to post bail??
He gets family and friends to put together $50K or whatever and go to a bail bondsman that will give them the $500K bail. $50K is much easier to get than $500K, hence the reason bail bondsmen are in business.
EDIT: Well duh, this was such an easy question that when I started posting there were no repsonses, then when I was done there were 5 or 6.
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#9
10-23-2006, 05:44 PM
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Re: How do college kids get $500,000 to post bail??
[ QUOTE ]
Are you serious? You realize he only needs to post $50,000 and the bondsman signs for the rest. [/ QUOTE ] I understand that the kid himself didn't come up with the money. I guess I'm curious as to how it all works. Like if he gets out on bail and a bondsman pays a large chunk of the $500k and the kid is guilty and goes to jail, how does the bondsman get his money back?
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#10
10-23-2006, 05:46 PM
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Re: How do college kids get $500,000 to post bail??
[ QUOTE ]
[ QUOTE ] Are you serious? You realize he only needs to post $50,000 and the bondsman signs for the rest. [/ QUOTE ] I understand that the kid himself didn't come up with the money. I guess I'm curious as to how it all works. Like if he gets out on bail and a bondsman pays a large chunk of the $500k and the kid is guilty and goes to jail, how does the bondsman get his money back? [/ QUOTE ] The court pays the bail amount back unless you skip town before trial.
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