Bail bond industry battling slump in business

Tools

By Jason Overholt

Story Created: Oct 25, 2009 at 9:46 AM EST

Story Updated: Oct 25, 2009 at 9:46 AM EST

INDIANAPOLIS (AP) — Dozens of Indiana bail agents are closing up shop as part of a national trend that has seen many hurting for business.

About a third of Indiana's 383 licensed bail agents have until Oct. 31 to renew their licenses. The Indiana Department of Insurance says 40 already have sent notice they won't be renewing.

Agents blame the economy and new Marion County bond policies for those charged with minor offenses.

They say more clients are asking for bail without collateral, and a the new Marion County policy sets lower cash bonds for minor offenses and lets the bonds be paid directly to the court, with no collateral necessary.

___

Information from: The Indianapolis Star, http://www.indystar.com

More Good Stuff

WSBT Weather

Current Temp 49.8

More Weather

WSBT Weather

More Weather

On Demand

iPhone
Get the WSBT News and Irish Sports Report apps for your iPhone! Read more »
On DVD
Order a DVD of a WSBT news story! Read more »
Twitter
Follow us on Twitter! Read more »
Facebook
Connect with us on Facebook! Read more »
WSBT E-News
Daily StormTracker e-mails right to your Inbox! Read more »
Video On Demand
Miss a story on WSBT News? Watch it here! Read more »
CBS Shows
Watch CBS shows and news online, free! Read more »
WSBT Alert
Breaking News & Weather right to your cell phone! Read more »
Mobile
WSBT News on the go for your cell phone or PDA. Read more »
RSS Feeds
Get news and updates as soon as they're published. Read more »

Stock Quotes

YouNews

This content requires the latest Adobe Flash Player and a browser with JavaScript enabled. Click here for a free download of the latest Adobe Flash Player.