A California appellate court has ruled that bail bond premium financing agreements are consumer credit contracts for which cosigners must be given a statutorily prescribed notice that warns of the potential consequences of acting as a cosigner.

In BBBB Bonding Corporation v. Caldwell, Kiara Caldwell, to bail a friend out of jail, signed an “Unpaid Premium Agreement” (Premium Agreement) in which she became legally responsible for the bail bond premium of $5,000, representing 10% of her friend’s bail. … Continue Reading