30 Jan Co-Signing Bail Bonds | Benefits and Risks of Bail Bond Co-Signers
For most people, there are many aspects of the bail process that are confusing or just plain unknown. This is often due to the fact that no one ever learns about bail since most people plan on never needing it. While many people are able to avoid ever needing bail, not everyone is so lucky. They find themselves needing bail, but have no idea how to proceed, or what any of the terms mean.
One term that can come up frequently in bail, is co-signer. Some people may recognize this term if they have ever taken out a loan. However, not everyone has done that. For those who do not know, a co-signer is any person who is willing to sign a contract with another person. The co-signers work together to get approved for the loan or bail bond because together, they may represent a stronger financial case than either would on their own.
Co-signers are important in bail bonds because they can help share the weight of the bail bond. Together, the two co-signers are responsible for making sure that their loved one goes to all of his or her court dates and that the payments are made on time. Since the co-signers are working together, paying for the bond becomes a lot easier for both of them.
Another benefit to having multiple co-signers for a bail bond is the increased opportunity for a discount. Here in Knoxville Bail Bonds, we offer qualified clients a 20% discount on the price of the bail bond. To qualify, one of the co-signers for the bail bond needs to meet one of the following requirements. So long as that is done, the co-signers can get the discount.
The requirements for the discount are:
☑ Be a member of the military.
☑ Be a member of AARP.
☑ Be a union member.
☑ Be a homeowner.
☑ Have a private attorney.
Co-signers are a pretty big deal when it comes to bail bonds. They take responsibility for the loved one they are bailing out, and are paying for the bond. They can also help alleviate some of the stress of the bail bond by sharing the payment load and help earn an extra discount.