Whenever you have to do something you have never done before, it is easy to become overwhelmed by whatever you are doing. Often times, even a simple word or term can throw you for a loop. When it comes to bail bonds, one such term is: co-signing.
At Winnetka Bail Bond Store, we often have to help clients out during a very difficult time for them. They are under a lot of stress as they try to come to terms with their situation and rescue their friend or family member from jail. That is why we do everything that we can to help reduce our clients’ confusion by answering all of their questions.
Some of our clients have never heard of co-signing before, and that is okay. The term itself is actually pretty straight forward. When you co-sign something, you and someone else are signing a contract together.
When it comes to bail bonds, this means that you, and somebody else who cares about the person you are trying to bail out, are signing the bail bond contract together. You are both agreeing to pay for the bail bond, and make sure that your loved one makes it to all of his or her court dates.
The Benefits of Co-Signing
You might be wondering why two people would want to sign a contract together, when one could be enough. The answer is that it can save each individual money. Right of the bat, you are splitting up the cost of the bail bond between 2 people, which cuts the individual price in half. On top of that, have multiple co-signers on a bail bond can reduce the cost of the down payment on the bail bond as well as possibly earning yourself a 20% discount.
Some bail bond companies, like Winnetka Bail Bond Store, can offer qualified clients of theirs a discount on the price of the bail bond.
To qualify for this discount, one of the co-signers on the bail bond has to be:
- A member of the military.
- A member of AARP.
- A union member.
- A homeowner.
- Hiring a private attorney for their loved one’s case.
The discount is applied to the bail bond even if only 1 co-signer meets a requirement. This means that everyone signing for the bond benefits.
Hopefully this answers your questions about co-signing and its relations to bail bonds. If you have any more questions, feel free to talk to one of our bail agents here at Winnetka Bail Bond Store. Our agents are available 24 hours a day, 7 days a week, and provide everyone with free consultations.