I know the I have written about surety before, but where the Bible repeats itself, we must become more attune.
"A man void of good sense gives a pledge and becomes surety for another in the presence of his neighbor." Proverbs 17:18, Amplified
When his verse speaks of putting up a pledge, I instantly went to a telethon in my head. This is not the kind of pledge that the Bible is referencing. It is taking about becoming the fall guy in a loan. As you sign your name on the dotted line as the cosigner, you are in essence telling the bank, "Hey, if this guy does not pay then you have every right to come after me." (Imagine a big Goofey laugh). In pledging for someone else you are not allowing them to buy the car of their dreams, you are only placing yourself as a secondary target. I am not saying that if you cosign, the initial payee of the loan is going to default. What I am saying is that you have no idea what may come of tomorrow and your friends financial status. How many people lost their homes during this current economic crisis? How many people lost their jobs during this current recession? You just never know.
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