Re: Freeze? or ?[ Edited ]
07-26-2007 04:03 PM - edited 07-26-2007 04:04 PM
Radiant3 wrote:5 years ago I bailed a long time friend out of jail. He made a stupid mistake while on vacation in Vegas. He later told me he had paid a fine and everything was OK, With 15 years of friendship behind us I never thought about it again until a collections agency from the bond co showed up on my credit report. As it turns out he never hired a lawyer and just ignored it. This sort of thinking is probably why we are not friends now. I had the collections people contact him but I was wondering if it was adventatous to freeze my credit report or add a note to it. Also can I request my address be changed to a PO Box? Prior to this incident my score was close to 800 +/- now its around 650 due to this - any advice?
As was suggested, DV it. A collection is a collection is a collection.
Something does not sound right about this. I have no first hand knowledge of the inside of a jail cell--surprising as that may be for some to believe--but I have some idea about how the process works. Bailing out your friend should in no way make you liable for a collection related to his legal adventure.
One posts bail, generally in cash or other guaranteed funds. Don't show up for court, then you don't get your money back and a bench warrant gets issued for the accused--your friend.
If the bail is too high to pay in cash, then one puts up something of intrinsic value (car note, deed to a house, etc.) that will cover the bail, and one pays the bond company a fee, normally 10% I think, of the total bail. The bond company as well will demand cash or certified funds. Some might take a car, property, jewels, or other items of inherent value. Small children have in the past been used as markers, but I'm told there are laws against that sorta thing now. FTA on a bond company, and they will come and get the accused--again, your friend. The item of intrinsic value will get forfeited.
Unless you signed something pledging payment, rather than coughing up some cash or charging it on your CC, I don't see how a CA could be after you for this.
Yep, talked myself into advising you to DV the CA. See the link in my sig.
Message Edited by Noah_Bodie on 07-26-2007 04:04 PM