ABC NEWS - Can Posting Bail Hurt Your Credit? April 14, 2014 By Gerri Detweiler, Credit Its spring, and that means spring break, graduation season and perhaps a bit of reckless behavior parents hadnt expected. If you get a 2 a.m. phone call -- the good news that your kid is not in the hospital, the bad news that he needs bail money -- whats a sleepy, startled parent to do? If the crime is serious, you may have to wait for a judge to set bail at a hearing. For less serious infractions, there are standard amounts of bail, depending on the charge. Sometimes, a suspect will be released on his or her own recognizance. That will cost you nothing other than the rest of the night lost to picking up your child and worrying about whats next. Other times, the bail could be relatively low, say, $10,000 or $25,000. Thats still a lot of money. But if you want to and you are able, you can pay the full amount and it will be refunded when your child appears in court as scheduled. Most people borrow the money. And chances are, Whats this going to do to my credit? is low on the list of things stunned parents are worrying about. The good news is thats probably OK, because any effects would be indirect...
Posted on: Tue, 15 Apr 2014 20:31:50 +0000
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