Is it legal to charge interest on a bail bond in Virginia?

No. Under Virginia Code 9.1-185.8, a Virginia bail bondsman may not lend money at interest for the purpose of helping someone obtain a bail bond. A legitimate Virginia payment plan is an interest-free installment arrangement on the premium. Any Danville offer of a bail loan with interest or finance charges would violate Virginia law.

What is the difference between a payment plan and a bail loan?

A bail bond payment plan spreads the non-refundable premium over interest-free installments, as Virginia law requires. A bail loan, by contrast, lends money at interest to cover bail, which Virginia prohibits for bondsmen. The difference matters because an interest-bearing bail loan adds cost a lawful Virginia payment plan never does.

Are there hidden fees on a Danville bail bond payment plan?

There should not be. Under 6 VAC 20-250-250, any administrative fee a Virginia bondsman charges must cover reasonable, documented costs and be disclosed in writing. Apex Bail Bonds puts the premium, any fee, the down payment, and the schedule in writing, with no interest, so a Danville family sees the full cost before signing.

Privacy Policy