“My son, if you have become surety (guaranteed a debt or obligation) for your neighbor,  If you have given your pledge for [the debt of] a stranger or another [outside your family], 2If you have been snared with the words of your lips, If you have been trapped by the speech of your mouth, 3Do this now, my son, and release yourself [from the obligation]; Since you have come into the hand of your neighbor, Go humble yourself, and plead with your neighbor [to pay his debt and release you]. 4Give no [unnecessary] sleep to your eyes,  Nor slumber to your eyelids 5Tear yourself away like a gazelle from the hand of the hunter And like a bird from the hand of the fowler.”

Proverbs 6:1 AMP

The Scripture gives us a lot of advice when it comes to financial matters. If the Word of God has become the rule of pour life, we should then harken to its principals speedily! In the opening verses of chapter 6, Solomon warns the reader not to get involved in the practice of signing for the responsibility for other people’s debt. Many a friendship have been ruined over the inability of another to manager their financial issues. Now the warning to us is not to engage our commitments for a “friend.” The Hebrew word here means “one who is an acquaintance or a close personal relationship.” There are many times that parents will co-sign a loan so that their children can begin to move forward in life. Here he is talking about people outside of your family sphere. Even in the case of a family member, there is a risk of separation and division should the loan default to the co-signer. If you are going to engage in this practice with a family member, I would suggest that you follow the wisdom of the Word, 

“If you lend [money] to those from whom you expect to receive [it back], what credit is that to you? Even sinners lend to sinners expecting to receive back the same amount. 35But love [that is, unselfishly seek the best or higher good for] your enemies, and do good, and lend, [k]expecting nothing in return; for your reward will be great (rich, abundant), and you will be sons of the Most High; because He Himself is kind and gracious and good to the ungrateful and the wicked.”

Luke 6:34-35 AMP

You should never “loan” someone money! If you are going to give it, then you should be ok with the fact that they may never give it back. This way you avoid all the drama that these issues can cause. I am not saying that the borrower shouldn’t be responsible to fulfill their obligations, I am saying however, if you can’t leave it go, don’t give it! Beside that, before engaging in any financial activity you should be in prayer listening to the Holy Spirit. I know that saying no is one of the hardest things to do, but the person asking should also understand and accept you decision without the guilt trip! If that is their attitude, it is a confirmation that your decision was right! Do you see verse two puts it right out there, you have been trapped by your own words and actions! The advice is solid and good to resolve the situation quickly! 

It is good wisdom for one not to entangle themselves in debt as much as possible. Remember that the borrow is the servant of the lender making themselves a slave of the world’s system. The believer should never pledge surety for more than he is able and willing to pay, and can afford to pay without wronging his family, in case the principal fail, for he ought to look upon it as his own debt. Finance is one of the areas that cause the most stress in life. Please remember the best financial advice God has given us,

“But if God so clothes the grass of the field, which is alive and green today and tomorrow is [cut and] thrown [as fuel] into the furnace, will He not much more clothe you? You of little faith! 31Therefore do not worry or be anxious (perpetually uneasy, distracted), saying, ‘What are we going to eat?’ or ‘What are we going to drink?’ or ‘What are we going to wear?’ 32For the [pagan] Gentiles eagerly seek all these things; [but do not worry,] for your heavenly Father knows that you need them. 33But first and most importantly seek (aim at, strive after) His kingdom and His righteousness [His way of doing and being right–the attitude and character of God], and all these things will be given to you also.”

Matthew 8:30-33 AMP

Have a blessed day! Pastor Ken