When co-signing for a bail bond for another person, you agree to be responsible if that person does not make it to their court date. This means that if the person fails to appear in court, you may be held liable for the full amount of the bail bond. Additionally, you may be required to pay additional fees or penalties. As a co-signer, you will typically be required to provide personal information and may need to supply collateral, such as property or cash, to secure the bond.
Co-signing works to limit risk on the part of the bail bonds company. The process of co-signing ensures that there is an agreement in which the consigner will be obligated to pay the amount of the bond if the person accused does not appear in court.
A co-signer will often have to stake some of their assets or property to ensure the bond is paid. A co-signer does have rights like the option to contact the bondsman and withdrawal the bond to return the accused to jail if they feel as though they will not meet their court dates.
You may also be required to be present in court with the person for whom you are co-signing.
What Happens When You Co-Sign For a Bond:
You ensure the accused person is released from jail until their court date.
You are declaring that you will have shared responsibility for making sure the person appears in our and all bond requirements and court proceedings are met.
A co-signer can also request stipulations like the accused entering into a rehabilitation program or residing with the co-signer to keep track of their whereabouts.
The co-signer can cancel the bond at any time if they grow uncomfortable with the accused’s actions or if the accused flees the court. A co-signer must notify a bail bonds company if the accused is going to violate their agreement.
A co-signer also has to meet a series of requirements, such as being a citizen of the USA and having lived in the area where the person is being tried for a set amount of time. A Co-signer also sometimes has to demonstrate financial capability, like that they have a sufficient credit rating or stable employment to carry out the co-signing option.
It is extremely important that you consider the risk and responsibilities that you are taking on as a co-signer. While it could be important for you to help the one that you love, it is important to keep in mind that you could be risking your own financial future or putting yourself in a position where you may have to revoke a bond should a person fail to meet the expectations of their release.