The bail bondsmen industry is booming again. Out of the 750.000 people in jail, almost two-thirds are awaiting bail. And bail bondsmen are ready and willing to serve. Recently, the largest convention of the bail bondsmen industry was held in Las Vegas. Hundreds of bondsmen gathered to learn the tricks of the trade, swap war stories, and drum up business. But how has this industry rebounded so fast?
The bail bondsmen business model is as follows: a person gets arrested and goes to jail. Soon they appear before a judge who decides, based on their criminal history and the seriousness of the crime, if they are allowed bail. If the judge awards bail, but the individual does not have the cash to post bail, they can hire a bail bondsman. The bondsman is paid a nonrefundable fee, generally 10 percent, which serves as a promise to the judge that you will show up in court.
This is the traditional method of finding clients, but bondsmen have gotten more creative over the years. One way to protect profits is to stay away from the IRS, apparently as many bondsmen believe they are more interested in shutting down businesses than helping. In addition to avoiding the IRS, today’s bondsmen have found better ways to track down skips and avoid paying legal penalties. Once an individual posts bail, many require clients to relay their Facebook and other social media passwords. Others create fake Facebook accounts to keep track of client activity. This way if a client doesn’t show up for court, bondsmen have a starting point for where they might go, or with who may be hiding them.
Some bondsmen partner with other industries to locate missing clients. Companies that scan license plates often form relationships with bondsmen so that if a client does go missing, the company will scan cars in the area where the client was last seen.
Many members of Congress have called for reform of the industry, as they believe some of their tactics are illegal or unethical. However, bail bondsmen site that their industry is vital to the continued functioning of the criminal justice system. If it wasn’t for them, they argue, jails would be overrun and the system would get backed up beyond repair. eMerchantBroker.com recognizes the need for this industry and will setup your bail bonds merchant account in as little as 72 hours.
