If you are being asked to co-sign a bail bond, then that likely means that a close family member or friend is in legal trouble. That is a stressful situation to find yourself in, and stress can make it difficult to think things through and make logical decisions.
However, it is very important that you fully understand the risks, responsibilities and benefits that come with co-signing a bail bond before making your mind up one way or the other about it. Your ultimate decision will depend on how reliable your loved one is, how much you can afford to lose, and how responsible you feel for this person.
Here is a closer look at how bail bond co-signing works, and the pros and cons that come with it.
Who can co-sign
If a person facing legal trouble does not have the collateral to secure a bail bond on their own, then the bail bondsman in Angleton will ask for a co-signer. Similarly to co-signing for an apartment lease or bank loan, co-signing for a bail bond means that you are accepting responsibility for the bond if the main signer fails to follow through on the terms of the bond. It is a legally binding agreement.
The requirements for being a co-signer will vary somewhat depending on the bail bonds business. But generally speaking, in order to be a qualified co-signer, you will need to have a good credit score and hold down a stable job. You also will probably need to have collateral, such as owning your own home, to put up against the bond.
Here is the most obvious pro to co-signing a bail bond: you get to be responsible for getting your loved one out of jail! This is one of the most selfless and helpful things you can do for someone. And if you have faith that your family member or friend will show up to their court date, then you do not have much to worry about, because you will not have to worry about repaying the full bond amount.
Beyond this clear benefit, co-signing a bail bond is a strong demonstration of faith in your loved one. At a stressful time when others might be turning their backs, showing your loved one that you are willing to put your own finances on the line for them will give them a much-needed emotional boost.
Co-signing a bail bond also has a very clear-cut con: if your loved one fails to show up to court, or violates other terms of the bail, then you could be stuck footing the bill for the entire bail payment. Consider how reliable your loved one generally is, and weigh that against how much you can afford to lose. This isn’t an easy decision, and it is one you need to make with both eyes open.
If you have more questions about co-signing a bail bond, feel free to contact a bail bondsman in Angleton at Brazoria County Bail Bonds.