The video talks about bail bond services and how the industry is suffering at this time because of some new laws in certain states. Bail bond companies can only make money when people come to them and request their help to get out of jail. They make their money off the down payment they ask their new clients to submit before they help.
Such companies usually ask new clients to submit an amount equal to 10 percent of the entire bail bond. Therefore, a new client may have to put down $1,000 before the bail bond company assists that person with a $10,000 bail. The bail bond company makes its money when the new client pays that down payment.
The problem with the bail bond industry is that bail agents can’t make any money if no one needs to get bailed out of jail. Certain laws have been passed in certain areas that are causing fewer judges to assign defendants bail amounts. Therefore, bail bond companies aren’t getting the same amount of business they used to. Some companies are sadly going out of business or laying off outstanding long-term employees because they are not making the same profits they used to make. The video explains more about this dilemma.
