The Economic Downturn Affects All Businesses – Even Bail Bonds

Most people think that when the economy is bad, crime goes up and Bail Bondsmen really rake in the dough. That is not necessarily true.While some states may have seen an increase in crime, not all states have seen that sort of increase. Bail bond companies sell a product like other merchants, and when the economy is down, it affects their business as well. While people are struggling to pay their house payments and don’t have the money to pay their bills, they most likely cannot afford a bail bond either. So, yes, it does affect the bail bond companies just like any other business.Is there really a rise in crime rates?
It depends on where you live.In Connecticut, Attorney General Richard Blumenthal mentioned that, “our worst economic times seem to be bringing out the worst in many of our people.” He said there was an increase in armed robberies, shoplifting, and state fraud.However, In California the opposite affect seems to be happening. The Los Angeles Times reported that for the sixth year in a row, crime rates are falling in Southern California and Los Angeles area.In other areas, our economic situation is helping to solve crimes. In Nashville it was reported that there was a 53% increase in tips given to the Nashville Crime Stoppers Group. A motivator for many people is the reward money. Metro detective Jim Lambert said, “I even had one caller call in and say, ‘You know, normally I’m not a snitch, but I need the money.”Are Good People Going Bad?
Due to layoffs and home foreclosures, some people are concerned that it is turning honest people into criminals. However, there is not much evidence to support that.In Providence, RI there has been an increase in calls to the Fire Department, but most often this is not for fires. It’s from thieves breaking into houses that are vacant and stealing copper plumbing, which is causing flooding. The home foreclosures have impacted nearly 40% of law enforcement agencies, either through a loss in tax revenue, or an increase in crime relating to vacant houses.Bail bondsmen deal with good people on a daily basis who have just made a mistake. Some people will do unthinkable and surprising things when they are desperate, like embezzlement for example.What about Domestic Violence in this economy?
Another form of desperation is when stress and the unknown cause people to violently lash out against family members.Due to that act alone, the US Department of Justice issued a Community Dispatch called “Preparing for Crime in a Bad Economy”, which warns about the possible rise in domestic violence. In California, this is one crime that is on the rise. The YWCA Domestic Violence Hotline in San Diego County has seen calls doubled compared to 2008.The bail amount in California for a domestic violence charge ranges anywhere from $20,000 to $50,000. The bail bond amount alone for that is 10%. This is a very expensive lesson on how important anger management is.Just like many other businesses, bail bondsmen feel the impact as their customers have less money in these difficult times. The result being that the people who are arrested are not able to come up with that kind of money or collateral to get out of jail. They feel they cannot turn loose of that sort of money and most often will sit it out in jail.Fortunately, the situation is improving and people are a lot more optimistic about spending money. They feel the economy is on the rise and things will be getting back to as close to normal as possible. No matter what business you are in, that is good news for everybody.