Bail Bondsman Failing to return collateral on an exonerated bond

What is the name of your state? California


My Husband and I bailed a family member out on a 25,000 bond last summer, by putting up our home as collateral.

The Bond was issued by an Insurance Company. Last month, we sold our home. The case was still pending, at that time, so the lien had to be paid w/ the proceeds of the sale of the home. The $25,000 was wired directly to the Bail Bondsman, and the lien was released, thus becoming a cash bond.

7 days after the funds were wired, the case was resolved, and the bond was exonerated. No additional monies are owed to the Bondsman. My Husband presented the court documents to the Bond Office the following day. We were told a request had to be sent to the Insurance Company in order to get our collateral returned, which would take approximately 1 week.

I week has passed, I contacted the Bond Office yesterday, explained that we had not received the funds, and that I had contacted the Dept of Insurance and was told the collateral must be returned 15 calandar days from the date the request was made.

I got a return phone call from the owner of the Bond Agency, stating that our money would be returned this Friday or Monday, in the form of a cashiers check, and delivered personally by him.

This makes no sense to me, if the Insurance Company is issuing the check, why would it be a cashiers check, and why not come directly to us. I suspect fowl play, and am concerned that our money is NOT with the insurance company, but rather with the Bond Office, in which case, I question why it is taking so long?

Do I have any legal recourse against the Bond Office? I am willing to wait until Friday, but what action should I take, if we do not receive the money then?

HineyMac,

I understand you wanting to be prepared in case something goes sour here...generally, you can hardly go wrong being prepared for the worst. Notwithstanding, I think, and I also think that the lack of other replies to your post reaffirms that others would agree, that you first need to wait until Friday, see what happens, and go from there. I have a feeling that you will probably have check in hand by 5:00PM Friday. I have no idea what happens logistically when a situation such as this occurs...who cuts the check, what the medium of payment is, etc., but I do not see it really being very strange at all that you would , (a), receive a cashier's check, nor that (b), it would route through the Bondsman. The very best of luck to you and please let us know how this pans out.

I agree, and I do tend to jump the gun, at times.....I did call the Bondsman earlier today. Same vague answers "Im not in the office-Ill get back to you" as usual. But, Im sure we will get the money eventually.

Im pretty sure our only recourse is to contact the dept of Insurance , in the event that the collateral is not returned. I have tried contacting the Insurance Company directly, to no avail.

Thanks!

Im sure Ill have more!!!

Well, in this case, my instincts were correct.

We finally got a check on Tuesday (after having an Attorney call the Bondsman) The check has bounced.

The good news is, I was contacted by the Bank that he uses, who claim the whole thing was a "bank error". Now, I am waiting for the check to be returned to my Bank, so I can have them re-process it.

If it bounces a second time, I am hiring the Attorney (same Attorney that represented the family member) And filing criminal charges against this guy.

At this point, Im wondering if I should file a complaint w/ the Department of Insurance?

He has been claiming the Insurance company-that issued the original Surety Bond held up the money, which is untrue. When we sold our house, the Escrow Company sent the funds directly to the Bail Bond Office NOT the insurance company. There is no need for a Surety Bond, when cash is used as collateral, correct?
The Insurance Company would have released their interest, when the lien was paid off through Escrow ( again , Im guessing) Im sorry this is so wordy, it just goes on and on and on the inconsistancies, and misrepresentation we have encoutered with this guy. We dont want anything but our 25k back, but I would hate to see this happen to anyone else.

I know I sound like a crazy person- but I am a Mortgage Loan Underwriter , for over 10 years! Im all about gut instinct! Ive heard and seen every lie and deception possible, perhaps Im jaded. But I know when someone is lying. I dont want to let him get away with this.

Well, about the only thing I can say here is that if the bank admits they were in error, most likely they were...they don't like to take blame for their own messes, much less anyone else's. I guess, though, that you'll have to wait and see. You are most definitely keeping your eye on him, which is probably about the best thing to do right now, anyway. I am with you if it bounces again, for what very little I know about this sort of thing.