If you’ve never had to post bail before, the process quickly gets confusing. However, it can become even more frustrating for those cosigning bail bonds for you.
Cosigning a bail bond is much like any other type of financial loan. In addition to putting your name on a legally binding contract, you are also taking responsibility for a percentage of the total amount.
However, agreeing to cosign a bail bond should not get taken lightly. There are inherent risks you are undertaking, even if the alleged criminal happens to be a family member.
You Are Liable for the Entire Amount
Posting bail is a contract between the person arrested and the state. They agree that, in exchange for freedom today, they promise to arrive at their court date in the future.
When they decide to try and run, however, the cosigner is now responsible for paying the entire bail amount. Even with a bail bond, failure to appear in court violates that contract as well.
When Am I Responsible for the Full Bail?
If you feel scared that you might not see your friend, family member, or loved one again due to lengthy prison sentences, it can get tempting to help them flee. However, nearly any excuse as to why they didn’t appear in court will force you to come up with the entire amount.
The judge can revoke bail on numerous conditions, most of which make you responsible. Anything from a violation of terms to the bond expiring can make you the one required to pay thousands.
It might be tempting to help them run, but in the end, it isn’t worth going into debt over. And if a local bounty hunter gets involved, it’s only in your best interests to help them do their job.
Collateral
It’s important to note that paying bail isn’t always done in cash. Sometimes, other assets get collected instead.
That can be equity in real estate, a vehicle, jewelry, or other valuables to make up for the lack of available cash. Unfortunately, it’s likely that if they run, you’re not going to hold on to them for very long.
Before you decide to cosign a bail bond, make sure that you completely understand what your involvement means. If you are not comfortable losing out on money or assets, you may want someone else to handle it instead.
