Bail Bond Co-Signing Responsibilities

The good thing that happens nowadays is that there is low percentage of arrested people who were released on bail bonds that think of fleeing before their next hearing. This means that the system works and the bonds are actually efficient. The bail is considered a constitutional right. The problem is that some citizen cannot pay the price because they do not have the financial means to do so. If the defendant is someone close to you, you have the possibility to be his representative and co-sign for his bond. However, this comes with some risks that you need to know about.

Financial responsibilities:
Signing for a friend means that you want to give him the financial support to get out of that critical situation. In a way you will give the bond amount if your friend will not appear in the court of law at the set date. Once you sign the promissory note, your friend is free to go. In order to make sure that you can pay, you have to give the bail bond company or agent collaterals. This means that your properties can become subjected to these regulations. Normally you can pay the collateral in cash. If you do not have the necessary amount, you can give your car, real estate, credit card, jewelry or electronics as collateral. The sad part is that if you do not own your house or car, you cannot use it. The companies do not accept mortgaged properties.

Other regulations:
After signing the indemnity agreement, you have to make sure that your defendant friend will respect the condition and be there in the court at the set date. In case you need extra assurance, you will want the accused to be mentally evaluated or to pass a drug testing. This will reveal a lot about the physical or mental state of the defendant. The worst case scenario is when the accused begins to commit other felonies or does not show up in court. If this happens, it is your right to issue the bond cancellation. If this is the case, the judge will be able to revoke the bail bond and send the person back in the prison.

It is vital for you to totally comprehend that there are some risks associated with bail bonds. There are also a series of responsibilities that go hand in hand when you decide to co-sign. Each state has its own laws so you should ask for the advice of an expert if you need further guidance. The truth is that you have to know the person quite well in order to actually trust him that he will fulfill his part of the deal. Otherwise you might be forced to pay the bail and use a significant part of the money. Helping a friend in need is truly a noble gesture to do, but this should not prevent you from taking all the possible protection measures and making sure that you actually get the money that you rightfully own.

If you need any help regarding Bail Bonds in Minnesota then drop a mail to Stew’s Bail Bonds – Known Anoka Bail Bonds Company. They also offer Minneapolis Bail Bonds .

 

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