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What Is The Point Of A Co-Signer?

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When looking into getting a bail bond, a person is bound to run into the term co-signer. Some people may wonder what a co-signer is, and why they are so important to the bail bond process.

A co-signer is a person who is willing to sign the paperwork for the bail bond. This person is taking responsibility for the bail bond, meaning he or she needs to keep the defendant in line and make sure that payments are made on time.

Luckily for the co-signer, he or she does not have to do it alone. There can be multiple co-signers on a bail bond, which helps spread out the weight and responsibility.

As mentioned earlier, one of the primary roles of the co-signer is to make sure the defendant stays out of trouble. If a defendant gets into more trouble with the law while out on bail, he or she could be rearrested. If this happens, the co-signer would still need to finish paying off the bail bond. There is good reason for the co-signer to make sure the defendant stays out of trouble and goes to all of his or her court dates.

Another, lesser known reason for having co-signers on a bail bond, is it shows confidence in the defendant. The more people who are willing to co-sign the bail bond, the more confidence the bail bond company has in the defendant. This shows that friends and family members believe that their loved one will not run, and go to all of his or her court dates. The more co-signers that you can get for a bail bond, the better a deal the bail bond company can offer you.

As you can see, co-signers are extremely important to the bail bond process. They can greatly affect the cost of the bond, and make it more affordable for everyone involved. If you want to bail someone out of jail, be sure to get some friends and family members to help co-sign the bail bond with you.

For a FREE consultation or if you have any questions regarding co-signing or bail bonds in general, call Bail Bonds in Madera at 559-674-0444 or Chat With Us now.

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Pledging Collateral For A Bail Bonds In Madera

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Whenever a person gets a large loan, the lender usually requires some form of collateral. This means that a person will have to pledge something of value, like a house or car, in order to get the money. If the person fails to pay back the loan, the lender will keep whatever was pledged as collateral.

This process helps ensure the lender that they will get the money they are owed whether or not the loan is repaid. Some people wonder why they would need to pledge collateral for a bail bond. After all, it is not a loan, or is it? A bail bond is actually a lot like a loan. The bail bond company is ‘loaning’ money to their client by paying for the person’s bail. The company gets this money back at the end of the client’s trial.

When people are paying for a bail bond, they are paying for the bail bond company’s services, not the bail. It could be considered the same as paying interest on a loan.

Since the bail bond company is ‘loaning’ someone money, they like to have collateral to help ensure they will get paid for their services. Unfortunately for many people, bail bonds cost a lot of money, meaning the collateral has to be something pretty significant.

Collateral for a bail bond usually needs to be something like a house, car, jewelry, or something of value.

If you need to bail someone out of jail, and do not want to pledge something as collateral, contact Bail Bonds in Madera. All we need as collateral for most bail bonds, is the signature of a working co-signer. If someone signing for their loved one’s release has a good job, then all we need is their signature.

You can learn more about collateral and co-signing a bail bond by clicking Chat With Us or by calling Bail Bonds in Madera at 559-674-0444.