Handcuffs - The One Year Daily Wisdom
Handcuffs
Read Proverbs 6
My child, if you have put up security for a friend’s debt or agreed to guarantee the debt of a stranger—if you have trapped yourself by your agreement and are caught by what you said—follow my advice and save yourself, for you have placed yourself at your friend’s mercy. Now swallow your pride; go and beg to have your name erased.
Proverbs 6:1-3
Scams, disappointments, and financial ruin often begin with misplaced trust. What does the requirement of a cosigner or guarantor indicate right away? It tells you that someone who handles money for a living doesn’t consider the primary signer fully able or willing to pay the debt. They need a third person to share the risk—and if you sign on the dotted line, then you are putting yourself at risk. If the person for whom you cosign a debt defaults on the loan, then you become responsible for that person’s debt. Have you anticipated what it will take to pay the debt yourself? The proverb recognizes how easy it is to fall into these commitments. Better to avoid them—at all costs!
In other words, if you would hesitate or be unable to give or loan this “friend” the money, then why would you want to place yourself in a position of being responsible for the debt by cosigning? A genuine friendship represents too valuable an item ever to be equated with money or real estate. Those who trade on your friendship do not have your best interest in mind.
A WORD FOR TODAY
Consider before committing.
Dear Lord, if a friend has a genuine need, give me wisdom to help him/her find a responsible way to meet that need.
