01 Apr What To Know Before Cosigning A Bail Bond
Before co-signing a bail bond, you may want to know what you’re getting yourself into. It’s a nice gesture to do for that friend or family member who has been arrested because it not only shows that you care about them, but that you’re willing to support them through this whole ordeal as well. However, there are also some very big risks that could be of concern, and we’re here to lay them out for you right now:
- You agree to pay off the full bail bond if the defendant fails to appear in court.
- You must pledge collateral to support the bail bond.
- You must relinquish your pledged collateral if the bail bond is revoked because the defendant failed to appear in court.
You’re probably already aware, but pledged collateral is no in-expensive item. It’s typically real estate property, vehicles, and valuables; such as jewelry, electronics, and firearms. Risks like these can completely deter people from ever co-signing a bail bond, even for their most trusted loved ones, but co-signers also have powerful rights to protect themselves. They may withdraw their name from the bail bond at any time if they feel that the defendant will skip court or violate the law again. By revoking their name from the bail bond, the defendant will be taken back into custody and the pledged collateral will be returned to the co-signer.
Acton Bail Bond Store can get into the nitty-gritty of being a co-signer because it’s imperative that one know every last detail about this subject for their own protection. We’re here to help bail people out of jail, but we’re also here to look after the co-signers as well. Acton Bail Bond Store has everyone’s back!