09 Jun I’m Cosigning for a Bail Bond! Now What?
Agreeing to co-sign for a bail bond is not something you should take lightly. This is a huge responsibility and is something you should think long and hard about before you commit to it.
The most obvious issue you need to consider is your financial responsibility. At first, this might not seem like much since the fee for an All American Bail Bonds is only 10% of the required bail amount. However, if the person you’re co-signing for decides that they don’t want to go to court and disappears, you will be responsible for paying the entire amount of the bail bond. Depending on the situation, you may also be asked to provide some form of collateral.
The second most important thing you’re responsible for is making sure that the person you cosigned for attends all of their court appearances. If they decide to fight the charges and the case goes all the way to a jury trial, this could add up to several different court appearances over a surprisingly long period of time.
If the person you cosigned for fails to attend even one of their court appearances, things are going to get interesting. The court will charge your loved one with a failure to appear and you will have to work with the bail bond agency when they revoke the bail bond. In many cases, the co-signer takes complete responsibility for making sure the client attends their court dates, this can even mean driving them to and from the courthouse, which could easily mean having to take time off from work, finding babysitters for your children, and making sure your vehicle is up to the journey.
The issue that we have noticed causes many potential co-signers to reconsider their agreement to help out with the bail bond when they realize that they have to provide the bail bond agency with a great deal of personal information. Before the bail bond agency will enter into a contract with you as a co-signer, you’ll have to provide the following information:
- Your complete name
- Your address
- Financial information
- Your relationship with the client
- Information about your assets including whether you own them outright or if there is a lien against them
One of the other things to keep in mind is that if anything changes in your life, such as you move, you will have to immediately provide the bail bond agency with this information. Failing to do so could result in your violating the terms of the contract.
All American Bail Bonds has a reputation for being the best bail bond agency in Tennessee. We understand just how stressful being a co-signer for a bail bond is and will do everything we can to make sure you not only fully understand what your responsibilities are, but that you are also comfortable with your decision to co-sign.
We’re available to talk 24/7 so don’t hesitate to reach out to us.