Financial Discipleship – the Bible on Cosigningਨਮੂਨਾ

Cosigning is like saying to a lender, “Sure! I’m so confident they will pay you back that I’ll wager my own house.” But you have to put the oxygen mask on yourself before you can put it on for someone else.

We can help someone in need of a cosigned loan in other ways. Maybe showing them how to save...

Putting a good word in for them with your employer...

Letting them move in temporarily...

One of the things to love about God the most is that He loves us enough to show us there is a way out of the very thing He told us not to walk into. If we didn’t get it the first time, He doesn’t turn His back on us. He’s here for the third do-over… and for the 490th as well.

Remember what Proverbs 6:1-5 says...

“If you co-sign a loan for a friend or guarantee the debt of someone you hardly know—if you have trapped yourself by your agreement and are caught by what you said—quick, get out of it if you possibly can! You have placed yourself at your friend’s mercy. Now swallow your pride; go and beg to have your name erased. Don’t put it off. Do it now! Don’t rest until you do. Save yourself like a deer escaping from a hunter, like a bird fleeing from a net” (NLT).

If you are a cosigner...

First, pray! God is always here to listen.

Second, go to the person and ask them to release you.

And third, whatever the answer is, pray again! Tell Him, “God, I’m listening. What would You have me do?”

If we are saved, then it is never too late for us. Our Father looks out for His children. So, when we are ready to come running home, He’s waiting with open arms to hold onto us, so we never go astray again.

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