IfI co-signed for a bond and the person bonded out refuses to pay the bond, what are my rights?

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IfI co-signed for a bond and the person bonded out refuses to pay the bond, what are my rights?

 Is there anyway that I could remove my name and not be held responsible for it?

Asked on September 20, 2010 under Criminal Law, Colorado

Answers:

M.T.G., Member, New York Bar / FreeAdvice Contributing Attorney

Answered 11 years ago | Contributor

Co-signing for anything is a big problem when the person who is the primary on the account defaults.  Then you become next in line and usually you get to have all the grief without any of the benefits.  Unfortunately you are most likely stuck here and your recourse will be to sue the person that was bonded in order to get the money back.  The bonding agency will most likely sue you and the person that was bonded if you did not pay.  You will, in turn, bring an action yourself (called a third-party action) within the "main" action against the bonded person.  Hopefully you will obtain a judgement and he is not judgement proof.  This is contract law.  Get help.  Good luck.


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