"Why did Trump need a bail bondsman if he's a billionaire?" some asked on social media.

Donald Trump reportedly used a bail bondsman after being arrested at Fulton County Jail in Atlanta, Georgia, on Thursday, paying $20,000 of his bond set at $200,000 and taking out a loan for the rest of it. The fact that the former president resorted to such a measure has sparked questions on social media about the state of his finances.

  • aseriesoftubes@lemmy.world
    903·
    1 year ago

    The bail bondsman who gave him that loan is the biggest sucker in the whole MAGA kingdom. That $180,000 will never be seen again.

    Edit: Nevermind, I didn’t understand how bail works.

    • chaogomu@kbin.social
      81·
      1 year ago

      A bail bondsman has more legal options for going after someone than any other type of loan officer, including the use of bounty hunters.

    • IWantToFuckSpez@kbin.social
      401·
      1 year ago

      That’s not how bail bonds works. It’s not a loan. You pay the bondsman 10%. Then the bondsman guarantees that the defendant will show up to his court dates. If the defendant fails to show up the bondsman has to pay the court the entire amount. Bondsman often use bounty hunters to pick up defendants who haven’t shown up.

      • Croquette@sh.itjust.works
        13·
        1 year ago

        I am not American, so it might be the phrasing that confuses me.

        But is the 10% returned to the defendant? Or that’s a flat fee that the bondsman take?

        If that is the latter, then I understand why people are questioning why Trump is using a bondsman since he supposedly have the cash to cover the full bond that he will get back once he shows up.

        So either he plans to fuck off so he saved 90% of his bond, or he’s having cashflow issues.

        If it’s the former, then it make total sense to use a bondsman regardless of your fortune.

            • canthidium@lemmy.worldEnglish
              7·
              1 year ago

              Exactly, if he actually had the money and doesn’t plan on skipping town, then he should have no problem putting that money up. I see a lot of people saying he’s not above running away, but I really don’t think his ego would let him. I think he truly believes he can beat the charges or win the election first, despite all the losses he’s already had.

        • clutchmatic@lemmy.world
          5·
          1 year ago

          You can consider the 10% as “interest” since the bondsman would have to cover the rest of the bail in case the indictee doesn’t show up

      • LordOfTheChia@lemmy.world
        6·
        1 year ago

        It’s not a loan

        It pretty much is

        https://www.sevenslegal.com/criminal-attorney/bail-bail-bonds-work/418/

        HOW BAIL BONDS WORK

        Bail bonds are similar to personal loans. After putting down a small percentage for the total amount, a bail bondsman or agent, gives you the rest of the money needed for your bail. Like a loan officer, this bail bondsman or agent is similar to the lender of a personal loan.

        As an example, if your bail is $15,000, you or a family member would be required to make a deposit of $2,000. The bail bondsman or agent would then give you the $15,000 bail needed for you to “post bail.” Most bail bond companies also will require you to provide them with some type of collateral in order to get the remaining money needed for your bail bond. Collateral is usually a deed to your house, item of jewelry, or car. This collateral is used in order to secure the bail bonds’ loan in case you don’t show up at your appointed court date, in which case you would not get your money back. After your trial is over, and you receive your money back from the court, the money is returned to bail bond company you received your bail from.

        Due to the fact that this is a financial risk the bail bondsman and bail bond company take because of this loan, they will often take additional precautions to make sure you attend all of your court dates. The bail bondsman wants to make sure his or her company receives back all the bail money it loaned you. As a result of these precautions, bail bond companies will frequently do the following:

        Prefer a relative or friend put up the necessary collateral for your bond. This is because you will then be less likely to miss a court date since your relative’s or friend’s house or property is on the line in for your bail bond. Call you before each court date in order to remind your about your upcoming trial. Require you to make periodic check-ins at their bail bond office to make sure you haven’t left town. Like most defendants, you will probably agree that these precautions are a small prices to pay in order to be able to stay out of jail while waiting for a trial date or during your trial.

      • AFK BRB Chocolate@lemmy.world
        6·
        1 year ago

        And they get their pay normally by keeping the 10% from the defendant. If the defendant skips town, they lose the other 90% unless they can locate the defendant and get them back to court.

      • TitanLaGrange@lemmy.worldEnglish
        4·
        1 year ago

        If the defendant fails to show up the bondsman has to pay the court the entire amount

        I’m curious, does the bondsman actually give the court cash, or just guarantee that they will if the defendant doesn’t show? And if that is the case, do they bond out more people than they actually have cash to cover, knowing that it is unlikely that they’ll ever have to cover all those positions?

        • canthidium@lemmy.worldEnglish
          4·
          1 year ago

          Someone correct me, but I think it’s dependent on the court. But either way, that’s why they generally employ bounty hunters to track down the defendants to make sure they don’t have to pay the court the rest.

    • hypelightfly@kbin.social
      21·
      1 year ago

      Trump wouldn’t be the one paying it back. Unless you’re implying he’s going to not show up for trial.