There has been a huge shift to bail bond companies for some time now offering not only payment plans, but little to no upfront payments and interest. Much like other businesses, such as law firms, doctor’s offices, etc., it is not impossible to have customers actually not afford their services unless the company is able to accept substantial financial risks and offer flexible payment options. Smarter credit card users can know that even credit card bonds have their downsides until they factor in how much they will pay on residual interest. Although still being subject to late credit card fees, bail bonds firms offer payment plans that start looking very tempting. Click this link for more info.
While in-house kiosk fees are only 7 percent, a reasonable amount must be charged less than 10 percent to 15 percent bail officers, it is a fee that must be paid in full; sometimes more than a defendant can afford. It does not extend to small non-felony bonds, but does the bail industry really want someone to stay in prison for hours, even indefinitely, so they can charge a minimum fee of $100? Hopefully the answer is No.
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Small mom and pop businesses may be affected by these kiosks but there is still plenty of time to make this option available to all jails. The fairly recent trends of bail bond firms recruiting aggressive search engine and social media marketing tools are a bigger challenge to small businesses. Driving into any area, one is not hard pressed to find a bail bond company particularly in the vicinity of jails and courthouses, so the industry seems to be doing very well. For instance, if only a handful of businesses within a city were closed, this would largely go unnoticed and bail kiosks could hardly be represented as a punishing blow to the industry.
Despite search engine patterns showing an spike in searches related to bail bonds, we would expect smaller companies to be forced out due to rising online competition rather than bailing kiosks over these next 5 years. There is no lack of literature that explains how the recession has adversely impacted the bail bonds industry. The competitive payment plans offered can be seen in this, but the market itself is that. The industry leaders routinely make 7 figures a year. The number of individuals with a bail license writing bonds alone, far outweighs the number of companies with legal store-front offices, staff, website, etc. It is similar to realtors; you can’t expect someone with a real estate license to compete with big real estate firms like any bail agent can’t hope to survive all businesses’ economic and legislative fluctuations.