Posting bail for a loved one is a huge decision. There are a lot of factors to consider before you agree to co-sign a bail bond. It can be a huge financial responsibility, and you are liable for the debt. Many people don’t have large amounts of cash sitting around, and rely on bond companies to post bail. Most bail bond companies offer several bail bond payment options to make sure you’ll be able to get your loved one out of jail. Many people think that co-signing for a bail bond will ruin your credit. Actually, a bail bond will not cause dings on your credit score just because you paid the bail. Bail bond companies can however conduct a credit check before allowing you to get a bail bond to make sure that you’re a reliable co-signer.
Defendant Runs Then Doesn’t Pay
If the defendant decides to run and refuses to go to court and can’t be found to bring back to court, then the co-signer will be responsible for reimbursing the bondsman for the bail money they had to pay. Since you co-signed the bail bond, you will either need to pay the entire bond or surrender the collateral property that was pledged to the bail bonds company. You do have a chance to take care of the situation if you think the defendant is planning to avoid their court date. You can let the bail bondsman know as soon as you realize and get your money or collateral back. This will also notify the authorities that the defendant is planning to run and must be arrested and returned to jail.
If you are the one responsible for the payments then your credit is on the line. Missed or late payments will affect you. If the delayed payments are given to debt collectors, they will contact you and can file a lawsuit against you for any unpaid parts. If you do not pay they can go after your income from your place of employment. There are many risks with being a co-signer, so take this decision seriously. Even though paying for a bail bond won’t directly affect your credit score, it can have repercussions.
Reduce the Risk
You want to help your relative get out of jail so you have decided to co-sign for them. If you trust them to do what is right by fixing their mistakes and showing up on their court date, then co-signing would be a great way to help them out of this difficult situation. When you hire a professional bail bond agency you get a discount off the full bail amount. This will save you a lot of money if your friend keeps the terms of bail. Keep in mind there are risks involved, especially if the defendant is not reliable.
Making the Decision With A-EZ Out
A-EZ Out is dedicated to helping you get your friend or family member out of jail and back to their lives after an arrest. We realize this is a big decision and one that is not taken lightly. We are here to help you. Our bail bondsmen are available 24/7 to post bail in Dallas, Denton, Tarrant, and Collin Counties, and we’ll help you through every step of the legal process. Call or visit our website to get in touch with an experienced bail bondsman today!