Two Tips For Choosing A Cosigner For Your Bail Bond

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Two Tips For Choosing A Cosigner For Your Bail Bond

10 August 2023
 Categories: , Blog

Bail bond agencies will let you bail yourself out of jail as long as you meet the company's requirements. If you don't, the bondsman will require you to get a cosigner. Though you may be desperate to get out of jail, you should take care when choosing a cosigner, and here are two tips for picking a good one. 

In a Financially Good Place

The bail company secures your bail with what is essentially a promissory note. If the court forfeits your bail, the bondsman must pay the full amount out of their pocket. The company, in turn, will collect that money from you. So, if the bondsman doesn't think you have the means to pay, they will ask you to have someone cosign who can.

The person you choose to cosign must demonstrate they have the financial means to cover the debt if your bail gets forfeited. They should have a regular and verifiable source of income, such as a job or business. Depending on the bail amount, the person may need to also have assets that can serve as collateral, such as a home or vehicle.

Some, but not all bail bond companies, will also run a credit check on applicants. Thus, you may need to have someone apply who has good credit. Before asking people in your social circle to cosign for your bail, contact your local bond company to get a list of financial requirements so you know what to consider when selecting a cosigner.

Has a Strong Constitution

On a more personal note, the person you ask to cosign for you should be strong mentally and emotionally. Cosigners have the power to revoke the bond at any time. While that gets them off the hook financially for the bond, having bail revoked means you'll end up back in jail.

There may be things that happen during your case that will make a cosigner concerned they may be held responsible for the bail or lose their collateral. For instance, if you miss a court appearance, the person may become afraid you'll jump bail and revoke the bond before you get a chance to resolve the issue.

When choosing a cosigner, then, make sure you pick someone who trusts you and won't jump the gun if things temporarily go sideways. The last thing you want is to end up back in jail because of a misunderstanding.

For more information about cosigners or to get bailed out of jail, contact a local bail bondsman.