One of our agents recently shared a story about her hair stylist; when the stylist was 20 years old she cosigned on a bail bond for her best friend’s new boyfriend. He stopped making payments and he disappeared before his final court date, and the company she signed paperwork with came knocking.
She tried to explain that she didn’t make a lot of money and she really didn’t know the guy but at this point, the damage had been done.
As bail bonds professionals we have all heard these types of horror stories.
If the defendant doesn’t pay, or worse, if they skip town and can’t be located, this leaves the cosigner in a terrible financial situation. Not only are they legally responsible for making sure the payment plan is taken care of, if the court issues a Forfeitures (which happens when the defendant skips bail and can’t be located) the cosigner will be on the hook to pay the full bail amount as a penalty.
In the state of Nevada the average bail amount can run between $20,000 and $30,000; anyone who is thinking about cosigning for bail bonds should be fully aware of the responsibilities they are taking on before they agree to sign any paperwork.
Cosigning on bail bonds does not come with a “buyer’s remorse” clause. Once you sign on the dotted line you are agreeing to make sure any monies due are paid off and that the defendant agrees to make all of their court dates.
If you sign for an ex or someone you just started dating and things between the two of you go south, you’ll still be responsible on the bond until the payment plan is complete and the case is resolved.
The bottom line is this, if someone asks you to cosign because no one else is stepping up, this should be a big red flag. Where is the defendant’s family? Why aren’t they signing? Why isn’t one of their good friends stepping up to help?
Chances are, if no one who knows the defendant is willing to help, there is probably a good reason for that. If you do sign, and things go south, you could find yourself on the hook for tens of thousands of dollars.
If you are looking to get someone out of Jail, Call VEGAS BAIL