Donald Trump reportedly used a bail bondsman after being arrested at Fulton County Jail in Atlanta, Georgia, on Thursday, paying $20,000 of his bond set at $200,000 and taking out a loan for the rest of it. The fact that the former president resorted to such a measure has sparked questions on social media about the state of his finances.

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[+] 246 points 3 years ago (9 children)
  • [–] 112 points 3 years ago (3 children)

    His finances are a revolving door of debt, I’d wager any money he gets has to be sent paying back the more dangerous of loans he has taken out.

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  • [–] 71 points 3 years ago (3 children)
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  • [–] 40 points 3 years ago (7 children)

    My first thought as well.

    We all know he's not nearly as wealthy as he likes to pretend, but it'd be nearly impossible to live his lifestyle without at least 200,000 in available cash.

    Likely he's using his so-called "genius" business brain to intentionally Welch on the debt and snag himself a cool 90% discount on his bail.

    Why pay 200 when you can pay 20

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  • [–] 31 points 3 years ago (3 children)

    No

    You lose money using a bondsman

    There is a bail bond fee or premium associated with using a bondsman

    This is non-refundable to trump.

    If he comes up with the cash himself and cuts out the bondsman he would get all his money back from the court after showing up to court.

    Bondsman gets all money back if trump shows up to court. They are not losing a penny. But making money because of the fee or premium.

    Only way it would make sense is if he was really trying to skip town. Then, losing fee would be less than 10% of the bond.

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    [–] 97 points 3 years ago (6 children)

    Why pay $200k when you can pay $20k and then refuse to repay the other $180k?

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  • [–] 25 points 3 years ago* (4 children)

    Because if you pay the $200k you get it back when the case is over. The $20k is gone forever.

    That's assuming the judge doesn't decide you've violated the bond conditions forfeit the bond. If that happens, the bondsman's going to go after you for the full $200k in addition to what you paid though, and you still wind up $20k poorer than if you put up the full amount in the first place.

    What probably happened is that he plans to use his usual delaying tactics and run the case out for several years, so his accountants decided they could earn at least 11% on the remaining $180k by the time the case is up, making it cheaper to pay the $20k up front.

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    [–] 86 points 3 years ago* (last edited 3 years ago) (7 children)

    The bail bondsman who gave him that loan is the biggest sucker in the whole MAGA kingdom. That $180,000 will never be seen again.

    Edit: Nevermind, I didn’t understand how bail works.

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  • [–] 82 points 3 years ago (2 children)

    A bail bondsman has more legal options for going after someone than any other type of loan officer, including the use of bounty hunters.

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  • [–] 114 points 3 years ago (16 children)

    Imagine working as a bounty hunter going after a US President.

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  • [–] 92 points 3 years ago (1 child)
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  • [–] 39 points 3 years ago* (last edited 3 years ago) (9 children)

    That’s not how bail bonds works. It’s not a loan. You pay the bondsman 10%. Then the bondsman guarantees that the defendant will show up to his court dates. If the defendant fails to show up the bondsman has to pay the court the entire amount. Bondsman often use bounty hunters to pick up defendants who haven’t shown up.

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    [–] 74 points 3 years ago (6 children)

    Is he poor? Maybe. The question is why is he poor? He just sold Mar-a-lago to a company owned by Don Jr., alledgedly for something over $400 million.

    He might be poor because he's hiding all his assets on offshore banks. If so, then the question becomes: why is he doing that?

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    [–] 67 points 3 years ago* (3 children)

    He’s obviously not poor enough to not be able to come up with 20 grand. But if your backup plan is to flee the country, why put up any of your own money? He’s going to try to be in Moscow or some other country that won’t extradite him if it starts looking bad. He might not actually pull it off but he’s dumb enough to think he can.

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  • [–] 54 points 3 years ago (3 children)

    My head canon for that timeline involves him being hunted down for betraying the united states, and his corpse dumped in the ocean like bin laden so that his grave site doesn’t become a place of worship for republicans.

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    [+] 67 points 3 years ago* (last edited 6 months ago) (2 children)
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    [+] 64 points 3 years ago* (last edited 2 years ago) (2 children)
  • [–] 28 points 3 years ago (4 children)

    He needs to lose his SS protections. And any other benefit the presidency provides.

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  • [–] 20 points 3 years ago (6 children)

    I mean I'd rather he keep the ss protection. I don't want him being martyred.

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    [–] 64 points 3 years ago (1 child)

    Trump is just using the first rule of being rich...use other people's money.

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  • [–] 55 points 3 years ago (1 child)

    ...or he'll just skip out on the bondsman like most of his other creditors.

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  • [–] 48 points 3 years ago (1 child)

    Do we even know for sure any money changed hands? Maybe the bail bonds person is a cult 45 member and sees it as service to the dear leader? Admittedly, my bail bonds knowledge is limited to late night cheesy commercials and an episode and a half of dog the bounty hunter, but I got the impression they're something of a shady character; someone who'd be at home in the cult. No?

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    [–] 48 points 3 years ago (15 children)

    He's rich. First rule of being rich is never pay when you can borrow.

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  • [–] 24 points 3 years ago* (7 children)

    But this isn't the same kind of thing. When the court sets bail, you give them that amount as like a deposit. When you show up to court, you get it back. Looks of people don't have the cash though, so they go to a ball bondsman, give them 10% of the total amount, and the bondsman pays the court the whole amount. When you show up to court, the bondsman gets that amount back, and they keep your 10%.

    So yes, it's a loan, but it's a really shitty loan. I can't see how he wouldn't be better off just paying the full amount himself unless he thinks he can successfully skip town.

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    [–] 40 points 3 years ago (2 children)

    ITT: So, so many people not understanding bail, or bail bondsmen.

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  • [–] 27 points 3 years ago (1 child)

    Mind expand a bit on that, please, then?

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  • [–] 37 points 3 years ago (15 children)

    Bail is essentially the court saying “give us this money, and when you show up for court you will get that money back.”

    A bail bondsmen takes 10% as payment, giving the court the bail money. They will go so far as to hire bounty hunters to hunt you down, making sure you show up to court. When the court gives back the bail, they get to keep both the bail money (obviously) but also the 10% payment.

    There’s no loan involved, the bail is more of a hold, and the bond is more of a payment. Trump isn’t paying less, he is literally paying a 10% bond to not have the full bail held. (Though it could be argued that the $180k could be used to make back the $20k but that’s a different discussion.) The bondsman has already received payment, there’s no concern of non payment by Trump.

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    [–] 38 points 3 years ago (2 children)

    Wow can’t believe Newsweek didn’t even do their due diligence. A bail bond is not a loan. You pay a bondsman 10% and then the bail bondsman guarantees the court that you will show up on the court date. If you fail to show up the bondsman has to pay the court the full amount.

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  • [–] 45 points 3 years ago (3 children)

    I think the point is that he paid the 10% rather than front the $200k out of his own pocket. The 10% he doesn’t get back since he used a bail bondsman, but he would have gotten the full $200k back when he showed up in court had he used his own money.

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  • [–] 18 points 3 years ago

    So either he's gonna need that 200k in Russia and won't be getting it back because he won't be showing up in court, he doesn't care about a 20k deposit and doesn't mind losing it, or he doesn't have enough money to pay the 200k and needed a better deal. I'm betting on option 3 but option 1 is a possibility.

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    [–] 30 points 3 years ago (7 children)

    he doesn't intend to pay any of it back.

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    [+] 26 points 3 years ago (9 children)
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    [–] 20 points 3 years ago (1 child)

    Lock Him Up

    He’s never going to stop committing crimes

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    [–] 20 points 3 years ago

    Even if it blew up in their face, I could see a non-sycophant reason for supplying Trump a bond, potentially with sweetheart terms: it would be the ultimate marketing coup within the industry. "We bailed out the highest profile defendant in American history, sure we can help you with your sixth DUI of the week!"

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  • [–] 18 points 3 years ago

    Any bondsman stupid enough to lend this clown money deserves to lose it when Trump inevitablely refuses to pay it back.

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