What You Should Know Before Co-Signing For A Bail Bond

Before you agree to become a co-signer for a bail bond with a company like Pat's Bonding, you will want to make sure that you are well aware of just what that means, what is expected of you, and how it can affect you.

You Will Need Money

Generally speaking, most bail bondsman require that ten percent of the entire bond is paid upfront. This must be done in order to process the bond. However, the other ninety percent needs to be secured somehow. A common way that this is done is the co-signer will use their vehicle or home as collateral. This means if the entire bail bond becomes due, the bondsman can come after the collateral to sell for the amount that is owed to him or her.

You Are Responsible For The Defendant

When you sign your name on the piece of paper, that makes you the co-signer for someone's bail bond. You are agreeing that you are going to keep an eye on them. You will always know where to find that person. You are also going to do your part to make sure that the defendant will make the required calls to the bondsman in order to check in. You are also supposed to make sure that he or she makes it to all of the scheduled court appearances.

Getting Relief From The Obligation To Pay

You will never receive the ten percent cash that you put up for bail bond. This is the fee that the bondsman will keep for providing a service, no matter the outcome of the case. You will be able to no longer worry about the rest of the money being due or the loss of your personal property if you make sure that the defendant makes it to all of the scheduled court dates. When the legal issue is resolved, your agreement with the bail bondsman is lifted and you are free to continue on about your life as normal.

When you agree to co-sign for someone, you can easily do so because you should now have all of the information you need to feel confident about the decision you are making. If you have additional questions, you will want to be sure that you are asking the bondsman before you sign anything. This is just to ensure that you have a complete understanding of the entire situation, including what happens if the defendant skips bail.

About Me

Understanding Financial Freedom

About 10 years ago I can honestly say that I didn't understand what it meant to truly be financially free. I was bound by my monthly bills, just doing whatever it took to keep my creditors happy. It was a terrible way to live, and I was really depressed. I didn't know how to change things, but I knew that I had to start somewhere. Eventually, I decided that it would make the most sense to make a financial plan and try to dig myself out of debt. That simple decision was all I needed to completely change my life. This blog is all about understanding financial freedom.