If you cosigned for a bail bond through a bail bonds service, you will be held liable for the whole bail amount if the person you cosigned for is unable to pay it.
Here are some factors to consider before considering posting someone’s bail because cosigning on a bail bond carries a significant risk.
- Do they have a history of skipping bail?
- Are they trustworthy?
- What is the balance of their bank account?
- What kind of income do they earn? Do you believe they will be able to repay the loan?
- Do they use drugs regularly? People who use drugs are less likely to show up.
- How serious is the crime? Some individuals believe that skipping court and relocating to another state will allow them to avoid detection, but they WILL be located.
Common Bail Bond Cosigner Scenario
Let’s imagine you are a co-signer on a $30,000 bond. To get your friend out of jail until the court date, you provide the bail bondsman $3,000 (10%). When it’s time for court, your pal skips it and leaves. They are either evading the bondsman’s search or lacking the necessary funds. Not losing $30,000 is the bondsman. You owe the bail bond business $30,000 right away, and they’ll do everything they can to get it back.
If Your Friend Runs, What Will The Bounty Hunters Do?
Finding people is often successful for bounty hunters. The bail bondsman will look for them, contact their relatives, friends, and place of employment in order to locate them, get them to appear, and return them to custody.
The bail bondsman will pursue you for the money, nevertheless, if the individual you released from custody cannot be located. Bail bond firms may get in touch with you, your loved ones, Facebook acquaintances, and employers. In rare situations, they may even seize your property to cover the full bond sum.
If They Are Found Guilty, Do You Get Your Bail Money Back?
It makes no difference if you posted a bond for someone else who turns out to be guilty. Bail money is used to release a person from custody until their court appearance. You will receive your bond money back if they appear in court as scheduled and you pay the full bail sum to the court.
The 10% payment you made is not refundable if you paid a bondsman’s fee to free a friend or family member from jail. Find out here if bail bonds are refundable.