What To Know About Co-signing for a Bail Bond
If you’ve never co-signed for a bail bond, there are a few things you need to know before you sign your name on a bail bonds contract.
How Much Will The Experience Will Cost
As the co-signer, it’s imperative that you understand the financial side of the bail bond contract. The cost of the bail bond is 10% of the bail amount. That means that if the judge sets bail at $20,000, you’ll have to pay $2,000. In addition to knowing the out-of-pocket expense of the bail bond, you need to understand that you won’t get your $2,000 back. The only way you’ll get money back is if you take yourself to jail and post the entire $20,000 bail.
The Terms of Bail
Depending on the severity of the charges you’re dealing with, past criminal history, and if there are potential victims, it’s possible that the judge will create several requirements for bail. Examples could include obeying PTOs, not leaving the geographical area, and may even order house arrest. It’s important that everyone connected to the bail, including the co-signers and bail bonds agency, understands these terms. If the person who is out o bail violates a single one of the terms, bail will be revoked. It’s even possible that additional charges will be filed.