We never taken a trust lightly. It was a matter of deep honor, and a debt owed was a debt to be paid.”
–Louis L’Amour (Galloway)
“It’s a dangerous thing to guarantee payment for someone’s debts. Don’t do it!”
–Proverbs 11:15 (CEV)
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Chapter 6 of Proverbs has more instructions and warnings from a father. So much of life, for better or worse, has to do with money and finances. Let me give a word of warning as we read these verses. Some may take it that it means never to give aid to a friend. That is not the case. This does not mean we should never be generous or helpful if we have the means, but we need to be careful and not promise what we cannot deliver. I might add here, that this does not only include financial agreements, but also rash promises that cannot be carried out.
1 — My son, if you become surety for your friend, if you have shaken hands in pledge for a stranger,
2 — You are snared by the words of your mouth; you are taken by the words of your mouth.
3 — So do this, my son, and deliver yourself; for you have come into the hand of your friend: God and humble yourself; plead with your friend.
4 — Give no sleep to your eyes, nor slumber to your eyelids.
5 — Deliver yourself like a gazelle from the hand of the hunter, and like a bird from the hand of the fowler. (NKJV)
First and foremost, know what you’re pledging and all the downsides. We should think the transaction through very carefully. “To be a surety for a friend is to take upon thee the charge of looking to another’s soul.” (Gregory) One of the surest ways to destroy a friendship is through this sort of transaction. Hopefully a friend will work with you if you find yourself in this situation, but a stranger–that is a different story. We should not, except for exceptional occasions, assume the debt for someone else. Flores says that this is “self-imposed bondage.” In other words, do not make rash decisions or ignorantly co-sign, and do not put yourself in the hands of someone who is a bad risk…unless you are willing to lose your investment.
Paul took upon himself on a specific occasion the debt of Onesimous. He wrote to Philemon regarding this, “But if he has wronged you or owes anything, put that on my account. I, Paul, am writing with my own hand. I will repay–not to mention to you that you owe me even your own self besides.” (18-19, NKJV) The lesson to learn is not that co-signing is wrong, but to understand that God is our surety. There is a difference between giving and not being entrenched with another’s debt. If there is a problem with this person or transaction, get it straightened out. Don’t wait around. If you have bound yourself to everything you can to get out of it.
One more thought–watch out for credit debt. This can also enslave you. This kind of debt can keep you bound for many years and cost you dearly. Remember, gifts that the world has to offer always has strings attached. This debt is subtle, similar to what used to be called a “loan-shark.” You want more, so you go deeper in debt not realizing the situation you are putting yourself into. Dan Dick states, “It is never wise to live beyond our means to the point where we become a slave to our transactions.” Perhaps the best way to look at this situation is to recognize that we are to be good stewards of what God has given us. We are to be good stewards of Christ, not binding ourselves to man. (Flores)