Hearing the news that somebody you care about has been arrested can be devastating. You want to do anything you can to get them out of jail. Unfortunately, you may find yourself in the position where you are unable to bail somebody out on your own. You may need to co-sign on a bond to secure the release of your loved one.
This might leave you with more questions than answers. Should you co-sign the bond? How can you make sure the process is seamless and your loved one is released? This is what you need to know about co-signing a bail bond.
Are You Eligible To Co-Sign A Bond?
Bail bond companies may have different requirements for signing a bond. Your relationship to the individual in jail does not necessarily matter, though most people who co-sign are family members or friends of the individual.
In order to be approved to co-sign, you may need to meet some credit requirements. You must also prove that you are employed and will be able to pay the full bond amount if something goes wrong.
If you do not meet the requirements or if the bail bond company isn't sure about your financial situation, you may be asked to turn over collateral. Collateral comes in the form of payment or property that the bail bond agency will keep in the event that the individual does not show up for trial.
What Does A Co-Signer Need To Know?
There are a few things you should know as a co-signer for a bail bond. First, you should know that you are responsible for the defendant appearing in court for their trial. You are also responsible for ensuring that they meet other requirements set by the court after release. For example, they may be required to avoid alcohol or drug use. If something happens, you can be held liable for their bond.
You should also know that your agreement with the bail bond company is legally binding. Ensure you are ready to meet the requirements of your agreement.
Why Should You Consider Co-Signing?
There are many benefits to co-signing a bail bond. For example, you are helping your loved one work on their case. You are also helping them get back to work so they don't lose their job or have to drop out of school.
Do you think that co-signing is a good option for your loved one behind bars? Now is a great time to take action. Call a bail bond company for more information.Share