In Houston's multimillion-dollar bail bond business, the 42 employees of A-Way-Out Bail Bonds Co. use cutting-edge technology to keep track of more than 1,000 clients from drunken drivers to international jewel thieves, who along with their families have paid cash and pledged cars, homes and ranches to get out of jail on bond, says the Houston Chronicle. When suspects jump bail and things go wrong, it's often up to 80 licensed bail bondsmen to haul them back in or make it right for taxpayers for whom bond business brings $4 million to $5 million annually.
Last year, $1.9 million was paid late, some of which was 10 years overdue, and millions more still are owed. A Chronicle review shows 500 current and former bond companies and individuals still owe taxpayers more than $26 million in default judgments, some dating back decades. On any given day, 13,000 accused criminals are out on bail in county courts with bond companies holding guarantees worth $125 million or more. That means bondsmen pledged money and assets as insurance that suspects will show for their day in court. About 5 percent of the clients fail to show.
Posted by Mike
Wednesday, February 24, 2010 06:16
Bondsmen operating in Harris County must apply for license renewal, in most cases, every two years. A license will not be renewed if there are outstanding unpaid judgments. More than likely, some business failed (as bsuiness sometimes do in any industry) and as a result some losses were not paid to the county. Question, how much was paid to Harris County by its local bondsmen in that same ten year period? My guess, many millions of dollars. Harris County bondsmen should commended for the vital role the play in the community.