bond amount in full.
Keep in mind that the average cost of bond is between $20,000 and $30,000! There is no refund policy or “buyers’ remorse” when it comes to bail bonds. Continue reading to learn more about bail bond policies and how they work so that you can better understand the responsibility involved in co-signing for bail bonds.
Co-Signed Bail Bonds
Once a court issues a forfeiture after a defendant fails to appear for court or skips bond, the person who co-signed for the bail bond is responsible for paying the remaining amount. This is a highly undesirable financial obligation to undertake considering the average cost of bond is about the same as a brand new car. It is a big deal to co-sign for a bail bond for another person. This is why it is usually family, loved ones, and close friends that provide this type of assistance for one another.
To co-sign for a bail bond for a person you hardly know is a very risky situation for anyone who is not a millionaire. Signing the paperwork for a bail bond is not only agreeing to pay any monies that are due, it is also agreeing to make sure the defendant appears for all their scheduled court dates. No matter what the relationship situation is between a defendant and a co-signer, or how the relationship might change, the co-signer will be liable for the remaining bond amount if the defendant does not pay or fulfill their court-ordered responsibilities.