How much is the income of bail bondsman?

Answer 1

They are genrally not on a salary but make a commission on the business they bring to the company. many are small companies that are essentially owned by the bondsman, who then makes a living on the profit of the bonds, minus expenses (which are numerous and include paying off on those that skip), he manages to write.

There are two types of bail bond agents. One is the professional bonding company and the second are bail agents who work for a surety company. Bail agents can collect as much as 10% in most states. We sign a document guaranteeing the bail or the defendant Once defendant is sentenced the case is considered over. In PA Professional bail agents can only charge 5% and surety agents charge 7%. The surety company allow and agent to work in all counties and states while a professional agent must be licensed in each county. So in PA i am working on getting a surety license even though I am licensed as a professional agent in 5 counties. This will allow me to work state and nationwide. However the extra 2%in PA gets paid to the surety company. The surety company is similar to an insurance company they just insure bails. We get paid when we write bonds and collect our percentages. I have the defendant's family sign documents for collateral purposes I only accept collateral like homes or expensive cars if the bails are small enough. Once I put a lean on a person the bail is then 85% safe as most people will not sign for someone they do not trust and the fear of thinking they may lose their home is enough in 99% of the cases. So a good agent with a good system can make a lot of money but an agent that has a bad system can be broke and working another career fast.

Answer 2

In Missouri it costs around $450 to become a bail bondsman.

Mandatory 24 Hour Training: $200 max
Examination: $41
Electronic Fingerprinting: $50.25-$59.00
License Fee: $150

Your states Department of Insurance should be able to help you determine costs of licensing.

Answer 3

Bail bondsmen are self-employed. They own the bail bond company. Like any other business, their income is dependant on how much business they generate and how much their losses are. Depending upon the area of the country, their charge for posting a bond can run in the area of 10 to 12% of the bond amount required by the court. It may take only one big forfeited bond to wipe out an entire year's gross receipts. That is why they usually obtain collateral for large bonds and employ skip tracers and/or bail enforcement agents to track defendants who fail to appear for trial or other hearings.

Bail bond companies do have employees who act on behalf of the company and in some cases are licensed bail enforcement agents or skip tracers. Their salaries are dependant on their duties and responsibilities and vary from state to state.