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When a person is charged with a crime, a bail hearing is set. The defendant then has three options leading up to the hearing. 1.) Pay nothing and sit in jail while they wait for the hearing. 2.) Pay the bail in full and do not go to jail while waiting for the hearing. A title to a home can be used in lieu of cash to pay for the bond. 3.) Pay for a bail bond and do not go to jail while waiting for the hearing. The defendant will generally pay 10% of the bail bond. The bail bondsman will also charge fees. The more violent the crime, the higher bail will be set. The U.S. and the Philippines are the only two countries that have bail bonds.
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Hypothetical example(s) are for illustrative purposes only and are not intended to represent the past or future performance of any specific investment.
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