Financial Discipleship – the Bible on Cosigningਨਮੂਨਾ

“My son, if you have become surety for your neighbor, have given a pledge for a stranger, if you have been snared with the words of your mouth, have been caught with the words of your mouth, do this then, my son, and deliver yourself since you have come into the hand of your neighbor, go, humble yourself, and importune your neighbor. Do not give sleep to your eyes, not slumber to your eyelids; deliver yourself like a gazelle from the hunter’s hand, and like a bird from the hand of the fowler." – Proverbs 6:1-5, NASB 1995

“Deliver yourself like a gazelle from the hunter’s hand… like a bird from the hand of the fowler.” That’s how serious Solomon, who’s credited with writing most of the Proverbs, admonishes us if we want to be released from being a cosigner. And it’s also how serious we should be about not agreeing to cosign in the first place.

Solomon was one of the wisest men to walk the earth. And if there’s one thing we can learn, it’s that smart people learn from their own mistakes; but the wise learn from the mistakes of others.

Now, it may not be a sin to cosign for someone. After all, oftentimes, our hearts are in the right place. But it’s not the wisest decision (Proverbs 17:18).

Maybe your daughter or son is going through a divorce, and their credit score just isn’t good enough to buy the home that will provide a fresh start. Or maybe your brother or sister has fallen on hard times and needs a car to get around. These are both heartfelt reasons why you may want to lend a helping hand by cosigning.

But instead of forcing it by ignoring the facts, we can listen to our Father—who only wants the best for us—and understand when He says: This is not the right time, nor is it the right solution.

His plans for us are for us to prosper. He does not want us to be afflicted by our own self-inflicted wounds, let alone by the damage caused by a loved one's difficult season, crisis, or errant ways.

(excerpt taken from The Bible on Money, Compass-finances God's way, 2022)