When somebody you care about calls from jail, your first instinct may be to visit or call a bail bondsman. For a fee, the bail bonds service will put up money for the release of the individual in question. Of course, once you have put your name on the dotted line, this does not mean that your part of the bargain is over. You are now officially a cosigner, which has several implications for you. Here's what you need to know.
Think About the Long Haul
When you cosign a bail bond, you have to consider the future, near and distant. You have to be confident that this person is going to show up to all court appearances, whether they are tomorrow or a year from now. If this individual does not appear in court, you might find yourself responsible for more than you bargained for.
Check Your Finances
If the individual in question does not make it to court appearances, the cosigner is the one required to pay the entirety of the bond amount. This is why it is so important to cosign for individuals you trust to show up. Family members and close friends are good people to cosign with if you know that they will be true to their word.
Read Documents Thoroughly
You should always know what you are signing, and bail bonds documents are no exception. Bail bond services will not try to trick you, but it is still important that you have a clear idea of what you are signing and why. It is also perfectly find to ask questions if you come across a concept that you do not quite understand.
Think About Car Loans
A bail bond could be compared to a car loan. When you cosign on a loan, you are responsible for payments if the person you sign with does not pay the bill. If you would feel comfortable cosigning on a loan with somebody, perhaps cosigning for bail is a safe bet too.
Bail bonds can actually do a wealth of good for individuals who find themselves in tough positions. Everybody deserves a chance at a fair trial, and bail bond services help to make this happen. In cosigning for a bail bond, you can be helping somebody you care about. These tips will help you determine exactly how you can be helpful in the future. Talk to a company like Ron's Bonds Co. if you have more questions.
Share10 May 2017
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