A Bail Bond Company in Midwest City Oklahoma helps when someone has been arrested and cannot afford the cash bail set automatically by the court or individually by a judge. For a fee, the company posts a bond guaranteeing that the defendant will appear at all court dates. This company may be a bit wary of the person being a flight risk and may require collateral or a co-signer for the bond amount.
Someone who considers co-signing a contract with a Bail Bond Company in Midwest City Oklahoma must understand the implications of doing so. This person may be anxious to see his or her loved one released from jail quickly, but it’s important to think clearly and rationally first.
The Financial Risk
Signing this contract makes this individual responsible for seeing that the friend or family member goes to court as scheduled. If the defendant does run away, the co-signer is now responsible for paying the full amount of the cash bail that was set.
Sometimes bail is a relatively small amount, such as $2,000, and the co-signer is not out a huge sum. But what if the amount is $100,000? Now the co-signer may risk losing a house or a hefty retirement savings account.
The prospective co-signer must consider some tough questions before taking on this risk. For instance, how long has he or she known the defendant? Is this a long-standing friendship, or a sibling or other close family member?
In contrast, is this a romantic relationship that developed fairly recently? Is the potential co-signer making a decision due to being starry-eyed with infatuation? Will other people who know the defendant very well vouch for trustworthiness, reliability, and honesty?
The person who wants to co-sign the contract essentially needs to look at the situation like a judge who sets bail. The entire point of bail is to motivate the defendant to appear in court after being released from jail.
The bail amount is returned to the defendant if he or she does not skip town. When a bond is provided by an organization such as Ken Boyer Bail Bonds, someone still must hold responsibility. Click here to reach the website.