Copyright © 2018 Albuquerque Journal
The abrupt decrease in monetary bonds has left the men and women working within the industry searching for new careers.
According to the Office of the Superintendent of Insurance, which oversees the state’s bondsmen, 48 business entity licenses were issued to bailbondsmen between 1992 and 2017. By June 30, 2017, only 23 still held active licenses.
In late August, there were just 10.
Gerald Madrid, the former president of the now-disbanded Bail Bond Association of New Mexico, said he had to lay off his 10 employees, and he’s operating at a loss. He’s constantly fielding calls from people confused about the changes. Some wonder why they can’t bail out a relative immediately, others ask why an offender was released so quickly.