If your loved one was arrested and is currently sitting in jail, you may be tossing around the idea of cosigning for their Montgomery bail bonds. Before you sign the paperwork, there are some things to consider to help protect you.
If you do cosign for any bail bonds in Alabama, there are a number of significant risks that go along with the responsibility. Signing for someone’s bail bond is a big step and one that should be contemplated heavily before agreeing.
Risks Associated with Cosigning
If you do cosign for a bail bond, you are responsible for the entire amount of the bond should the suspect flee and miss his or her court date. If you are not prepared to handle such a heavy financial burden, then you should consider if it is best for you to sign the paperwork. The longer the person is fleeing, the more fees that stack up and you will remain responsible until the suspect rears his or her head.
Another large risk you take is that if you placed collateral up for the bond and the suspect does not show, you could end up losing your property. Therefore, it is important to evaluate the type of property you place as collateral and remember that there is a chance you could lose it.
Steps to Take to Minimize Risks
You can minimize the risks you are taking when you sign for Alabama bail bonds. For starters, you can request to have stipulations placed on the bond. The suspect will need to follow these stipulations, otherwise, he or she may go back to jail.
If you are not comfortable with the behavior of the suspect or you feel they may flee, you can request that the bail bond company cancel the bond and the suspect will have to return to jail.
Bail bonds in Alabama allow friends, family, and loved ones to stay out of a jail cell while they are awaiting trial, but it may come as a risk to you if you cosign for the bail bond. To protect yourself from owing the bond amount or losing your property, make it a point to work closely with the bail bondsman.