There is nothing worse than finding out that someone you love is in jail because they are being accused of committing a crime. Of course, the first thing that anyone would want to do is get them out. When someone you love is in jail, they usually have to opportunity to get out through a bail bond. This is usually going to require the help of a bail bond agent of a co-signer to accomplish. Before you agree to being a co-signer on a bail bond for a close friend or family member, there are some things that you need to know. Ajua Bail Bonds is here to talk about some of the risks of co-signing on a bail bond to get someone out of jail.
Does Cosigning a Bail Bond Affect Your Credit? Are there Other Risks?
Here are some of the responsibilities and the risks that come with co-signing on a bail bond:
– Liability: You are putting a lot of trust in the person that you are co-signing for on a bail bond. If the defendant fails to appear in court, you will be responsible for the full amount of the bond in the eyes of the law. You need to have a full understanding of this so that you aren’t surprised if it comes back on you should the defendant not hold up their end of the deal.
– Credit Score: There are some implications with your credit score as well. When you co-sign on a bail bond for someone, you are essentially taking out a loan on their behalf. It will definitely have a negative impact on your credit score if the defendant doesn’t hold up their end of the deal. This can impact your ability to take out any loans in the future.
– Communication: If you do end up co-signing to help someone get out of jail, you are going to want to keep an open line of communication between the defendant and the bond agent. You should stay on top of when the defendant is required to be back in court. If they don’t hold up their end of the agreement, make sure you’re talking to the bond agent to let them know what is going on.
– Your Finances: While your initial reaction to someone you love in jail might be to help them get out by co-signing on a bail bond, you need to think about your own financial circumstances and whether or not you can afford it. If you have doubts or concerns about paying the entire amount should you have to, you might want to tell them to ask someone else to be their co-signer.
Bail Bond Services in Clovis, Reedley, Sanger, Selma, Atwater, Los Banos, Merced, Visalia, Porterville, Tulare, Hanford, Corcoran, Lemoore & Greater Fresno, CA
If you have someone you love in jail, you can turn to Ajua Bail Bonds to help you get them out. We know that home is where most defendants should be spending their time as they wait for their day in court. Call us today!