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 Post Posted: Wed 04 Oct 2006 17:52 
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Joined: Mon 14 Feb 2005 10:59
Posts: 7563
Location: Arkansas
FRN Agency ID #: 340
Experience: More than 10 years
I guess that I am lucky in that I work for a company that takes 5% each check and places it into a Forfeiture Savings Account in my name. I only have to pay taxes on the interest that the account accrues during the tax year.
I am also able to borrow from myself (which has been done during my employ) as I very rarely have to pay a forfeiture. If there is a forfieture of one of my bonds I only have to pay 1/2.
Of course should I leave his employ I am not able to get the monies until all bonds have cleared...and I keep very close watch on my bonds, so I know what is cleared and what has not, I for one do not depend on anybody else to do that job for me.

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Last edited by KARMA on Thu 05 Oct 2006 12:32, edited 1 time in total.

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 Post Posted: Wed 04 Oct 2006 23:35 
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Joined: Tue 24 May 2005 14:46
Posts: 3334
Location: Colorado
FRN Agency ID #: 324
Experience: 5 - 7 years
That is another good point, LuVonda. I only have one court (my local one) that automatically sends out bond discharges. While they don't require it, I keep them supplied with self-addressed-stamped-envelopes. It builds better relationships with them if they only have to reach out and pick one of these up versus pulling up my information and printing one out, then going to the postage meter to stamp it. (Just a little hint on some of the simple things that work.)

No matter how much I stress to my bondees that it is their responsibility to get the discharge to me when the case is done, I have very few who do this. I usually have to mail them to the courts with a SASE to get them back, sometimes several times before I get it.

Getting bond discharges is becoming an issue in some courts. One county will not do them by mail, you have to go to the courthouse and get them. Since it is 3 hours away, that is a real hassle. Another charges $0.75 apiece for them. Some will sign and send back if I turn one and a SASE in with the bond. The court policies change all the time, so it is impossible to keep up with them all.

Another thing I do (not required in my county) to build relations is to print off a stack of bond forms with my information, made out for my county and the other's that I commonly post for and leave them at the jail here. This way all the jailer has to do is fill in the defendant information, bond amount, and return court date. They don't have to look up the court address or anything else. I put in the power number, sign, and we're done. It helps them, and saves all of us time.

Some of the counties make the bond agent fill out the whole bond form, some do it for us and we just fill in our information and sign. My county does local bonds, during court hours, at the courthouse. After hours, or out of county, are done at the jail. Having these forms available is just one way I make it convenient for the local jailers and they really appreciate it.

I review all of the bonds before I sign them, and sometimes I fill in missing information, or find a mistake that I very politely, respectfully, and helpfully, point out so it can be corrected. This is more common at the jail than at the courthouse, but it happens sometimes.

Our state does not allow us give anyone in LE or the courts anything what-so-ever of value. I have worked very hard to build relationships by always being friendly, treating everyone with the utmost respect, and doing things however they want them done. I have made friends out of some who "hate everyone". The first time I got a smile out of one of these, I almost fainted. I don't socialize with them (other than occassionally one or two) outside the jail or courthouse, but we have an easy and very good working relationship. I don't back down when I am right, but I also don't approach things in a confrontational manner.

I do not have some of the competition that most of you do. I am the only local bond agent, so this helps tremendously. The last one moved away a few years ago, but she never did the business that I do because she was "too" careful and didn't recruit as I do. Others travel 40-50 miles to write bonds here. The bond agent that I previously wrote for did about one-third of the bonds. Another, who we still do BE for, did the other two-thirds. When I started bonding, I already knew many people from other businesses I am in here. That got me some business from those who knew me, but most of what I get is because I go the extra mile with everyone I deal with. Our jail allows us to post business cards or other advertising next to the payphones. My card is there with several others, but there is also an 8 1/2x11 flyer with my name and number posted as a local agent. Does this get me business? You had better believe it does.

Have I worked my rear-end off with LE to gain their trust? Again, you had better believe it. Do I get business from them? YES, I do. I do not abuse their trust, I follow the letter of the law and treat them with the utmost respect. Whether I agree with LE's actions, tactics, or the guilt or innocence of those I bond, they all get the respect they deserve based on my experiences and relationships with them.

I don't pull any punches with anyone. I tell my bondees and their cosigners that I don't care if they are guilty or innocent. My only concern is that they go to court, everytime they have to, until I get the bond discharged. Because of my trust and reputation with my local court, I feel guilty on the few times I have to "tech" out on a bond when they mess up. I will still try to locate and notify LE of their locations.

Repeat offenders, I tell that they deserve to do time or attend classes, etc, depending on the charge. My only concern is that they go to court. They know that if they don't, I will be right behind them to put them back in jail. I don't do every bond I am called on. It is my option to write it or not, depending on the cosigner, collateral, or just personal feelings. In the two years I have been writing bonds, I have had to pay only one out of my pocket. We picked the guy up 3 days later, and I got my money back from the court within a week. Yes, I am careful with my bonds, but I trust their records, personal knowledge of them or the cosigner, or my gut feelings on most of them. I did bail enforcement work with my hubby for a couple of years before I started writing bonds, and the experience and knowledge of "what information was verifiable and required" has proven invaluable to the bonds I write.

These are just personal actions and experiences, and you can take them, use them, or not. I have made my business a success from what I practiced and learned. These may or may not work in your AO. Everything depends on your competition, what works and what doesn't in you AO. It is the "little things" that make you different, wherever you are. You have to determine what those are in your AO, and do what is necessary to succeed. My experiences work in my AO. Find what works in your's and go with it.

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Kathy Blackshear
Blackshear Investigations
Blackshear Bail Bonds
Sales Associate, Prepaid Legal Services, Inc.
Walsenburg, CO


Proud Member of the AB Reject Club


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 Post Posted: Thu 05 Oct 2006 09:45 
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I can give her a list of agents that worked for that company that never received their money and some she knows very well and likes and a quick correction she puts in 10% of her money to the BUF fund for forfeitures. They take 5% of the total money collected which includes their half but remove it from her half which comes out to 10%. Example 1,000 collected/ 500 company and 500 agent but 50 is removed from the agents check and they get 450 (10% less) not 475 which would be 5%. I know this becuase I used to work for this guy. Her 1099 she gets at the first of the year includes the money removed for the BUf fund which she pays taxes on.


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 Post subject:
 Post Posted: Thu 05 Oct 2006 12:25 
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Joined: Mon 14 Feb 2005 10:59
Posts: 7563
Location: Arkansas
FRN Agency ID #: 340
Experience: More than 10 years
I stand corrected - it is 5% of the total collected
HOWEVER - I receive a statement of my Savings Account and it is not included on my yearly 1099. I only have to pay taxes on the interest earned. Yet IF an agent borrows from the fund it IS added to the yearly 1099. That is why I keep my check stubs and compare them to my 1099. I would recommend that anybody here or across the nation when getting a paycheck that they keep their records for verification. Saves having to guess or assume.

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Do not consider anything for your interest which makes you break your word, quit your modesty, or inclines you to any practice which will not bear the light, or look the world in the face .... Marcus Antonius

I AM Some Folks "KARMA" and A MODERATOR @ FRN


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 Post subject: answers to Lance's question
 Post Posted: Sun 29 Oct 2006 11:28 
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Joined: Thu 16 Jun 2005 16:04
Posts: 4598
Location: NE Alabama
FRN Agency ID #: 5
Experience: More than 10 years
Here you go.....

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River City Associates
Decatur, Al. 35601


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 Post subject:
 Post Posted: Mon 15 Jan 2007 15:10 
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Joined: Mon 14 Feb 2005 10:59
Posts: 7563
Location: Arkansas
FRN Agency ID #: 340
Experience: More than 10 years
The main thing to remember here in this county - THEY DO FORFEIT AND ENTER JUDGEMENT - as Bob (HoundDog) can tell ya, DON"T WRITE STUPID here , which means IF I have not written it - don't write it. and IF you do, get ready to pay the bond or get OFF YOUR LAZY GREEDY BUTT and find 'em :wink: OR hope that the boss likes you enough to pay the $$$$$$
OR you have a well paid into BUF fund
there have already been a couple of NEW companies to this county that are looking at BIG$$$$ because they don't think :wink:

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Do not consider anything for your interest which makes you break your word, quit your modesty, or inclines you to any practice which will not bear the light, or look the world in the face .... Marcus Antonius

I AM Some Folks "KARMA" and A MODERATOR @ FRN


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 Post subject:
 Post Posted: Mon 15 Jan 2007 20:12 
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Joined: Thu 06 Jul 2006 14:22
Posts: 3982
Location: Maryland and Virginia
FRN Agency ID #: 455
Experience: More than 10 years
Guys,
I beg to differ with your tax premise. BUF accounts are deffered income, not an expense. They are only an expense when you pay a forfeiture out of them. Just like collateral is also an income itentsem, if it is forfeited to you to offset bail expenses, it is still taken as income to offset the expense.

I am not trying to argue with anyone. I learned this taking an online class for continuing education for my P & C license. It was actually the course taught to IRS Agents to audit bondsmen!

Scott

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R.E. "Scott" MacLean III

"Leaders are like Eagles, you never see them in a flock, but one at a time"

Chesapeake Group Investigations, Inc.
Chesapeake Bail Bonds
877-574-0500
301-392-1100 (fax)
301-392-1900 (Office)


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