Too many people today live from paycheck to paycheck.
That means coming up with $100 for an unexpected expense — let alone $400 or $500 — can force people to take on more debt.
Emergencies take many forms: surprise medical bills, car repairs, sudden unemployment — or even arrest.
Most folks don’t expect to end up behind bars, and posting bail for yourself or someone else can be costly.
Bail can spana few hundred dollars for a misdemeanorto as much as$55,500 for a felony.
Such steep costs can mean that people remain incarcerated longer than necessary.
Gothamist reports that half of those held in New York City jails are there because they lack the funds to post bail.
“Besides exposing those presumed innocent to the dangers of [local jail complex] Rikers Island, pretrial detention interferes with individuals’ ability to keep working, pay rent, and support their families, and greatly raises the likelihood of a conviction,” writes Gothamist’s Nathan Tempey.
If a friend or relative called asking you to quickly come up with bail money, would you know where to look? Here are several straightforward ways to raise funds fast.
- Hold a garage sale.
- Sell belongings on Decluttr, BookScouter or Letgo.
- Bring clothes to your nearby consignment store.
- If you maintain an emergency savings account, this could be the moment to use it.
- Take on odd jobs through TaskRabbit.
- Turn in recyclables at a redemption center for cash.
- Nonprofit bail assistance programs operate in some regions. See if there’s one in your community. You might also find resources for adopting a child or ways to help loved ones without spending money useful for broader support ideas.
If you’ve tried these tactics and still can’t reach the needed amount to secure a loved one’s release, think about contacting a bail agent.
A bail bond requires paying a premium, which is typically a percentage (commonly 10%) of the full bail total.
“The premium compensates the bail agent for their role in supervising the defendant and ensuring they attend all court dates,” explains Nolo.
Keep in mind that whilecash paid directly to the court as bail is refundable, any fees or assets used to secure a bail bond are not returned.
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Alex Reed is a staff writer at Savinly.
