It’s a scenario that no one wants to deal with: you receive a phone call in the middle of the night letting you know that a friend or family member has been arrested and needs your help. Chances are that you have no experience arranging for bail bonds; you just know that suddenly you have the responsibility for helping out someone you love.
By hiring a provider of professional local bail bond services and paying the percentage of the total bail amount, you become a cosigner of the bond. While the bondsman puts up the full amount, they will hold you liable for this amount if the person who has been arrested skips bail or otherwise violates the conditions of the bond. Because of the high risks associated with cosigning for a bail bond, it’s important that you understand the responsibilities of being a cosigner.
When you reach an agreement with a bail bondsman, you’ll sign plenty of paperwork. Read this paperwork carefully, as it explains what is expected of you as a cosigner. This will include making you responsible for losses they incur from someone skipping bail. If a person doesn’t not make their court dates, they forfeit their bond, which means that you will be on the hook for the entire amount of the bond.
This means that you have a financial responsibility to make sure that anyone you cosign a bail bond for will meet their obligations. If not, you may have a limited amount of time to convince them to do so before you are on the hook. Bail bond agencies can track down fugitives who have skipped bail, but you will be responsible for the expense.
Cosigning for a bail bond is very similar to cosigning for a loan. For example, if you cosign for a person’s car loan that makes you partially responsible for the car payments — even if you aren’t the person driving the car. For this reason, you need to be careful when deciding if you should act as a cosigner on a bail bond.
Working with a respected bail bondsman can help you to alleviate many of the concerns you might have about the process. This is just one reason why so many people have turned to Escape Bail Bonds over the years. With offices throughout our bondsman service areas, we are always available to review your situation and give you honest and helpful advice. Contact us today for a consultation and to learn more about the bail bond services we offer.