redneckerson
08-15-2007, 08:29
Karl needs co-signers to bail out of jail.
If he doesn't make bail, he will stay in jail for 3 to 6 MONTHS, untill his trial is over.
To be a co-signer, you must be a resident of Colorado, have had a job for the last 2 years, and have some equity (typically in your house).
No cash is needed, just recourse if Karl were to screw everyone and skip. If Karl shows up in court, all co-signers are released from their obligations.
So far, HunterCo and I are "in".
At this time, Karl's bail is set at $10,000. Exposure for each cosigner is $10,000 divided by the number of cosigners.
Karl's attorney will be requesting a bond reduction next Monday, so the final amount might be less than the $10,000.
I am in the process of coordinating getting all the Bail Bond paperwork done.
Please PM me ASAP if you would like to help.
If he doesn't make bail, he will stay in jail for 3 to 6 MONTHS, untill his trial is over.
To be a co-signer, you must be a resident of Colorado, have had a job for the last 2 years, and have some equity (typically in your house).
No cash is needed, just recourse if Karl were to screw everyone and skip. If Karl shows up in court, all co-signers are released from their obligations.
So far, HunterCo and I are "in".
At this time, Karl's bail is set at $10,000. Exposure for each cosigner is $10,000 divided by the number of cosigners.
Karl's attorney will be requesting a bond reduction next Monday, so the final amount might be less than the $10,000.
I am in the process of coordinating getting all the Bail Bond paperwork done.
Please PM me ASAP if you would like to help.