New Type of Loan Called Bail Bond Loans
Bail Bond Companies Can Refer Clients To Obtain Financing
There is a new type of loan available to help those caught up in the criminal justice system. If you, your family or a friend needs to get bailed out but you are having trouble coming up with the 10% up front, you can get unsecured short term bail bond loans through bailbondlenders.com.
Advantages of Bail Bond Loans
There are some great advantages to this type of no collateral loan. While it would be nice if there were no credit checks, typically there is some type of credit review. You can have your money direct deposited to your checking or savings account within a day or so, sometimes in as little as two hours. There are usually no requirements for faxing in identification documents, proof of income or identity verification. The loan process only takes an average of 4-5 minutes and is similar to an application for installment loans and short term loans.
Eligibility for Bail Bond Loans
Approvals are based on other things besides your credit rating or credit score. They do not typically obtain a copy of your credit report or cause a hard inquiry on your record, so they have to base approval criteria on other things besides credit worthiness.
Who is Eligible for Bail Bond Financing
The criteria used for approval varies depending on which lenders in their system receive your application. The industry average criteria looks something like this:
- You are a U.S. Citizen
- You are over 18 years of age
- You have a good job
- You have had your job longer than 6 months
- You have been at your current residence longer than 6 months
- You do not have any outstanding loans with these specific lenders
Usually Overlooked Types of Bail Bond Borrowers
Some other types of people who may be eligible for these loans but are usually turned down by traditional lenders:
- Members of the military or armed forces
- Dependents and family members of the armed forces or military
- People with bad credit or poor credit
- People with no credit
- People with bankruptcies