Proverbs 6:1-5 "The Dangers of Secured Loans"

“My son, if thou be surety for thy friend, if thou hast stricken thy hand with a stranger, Thou art snared with the words of thy mouth, thou art taken with the words of thy mouth. Do this now, my son, and deliver thyself, when thou art come into the hand of thy friend; go, humble thyself, and make sure thy friend. Give not sleep to thine eyes, nor slumber to thine eyelids; deliver yourself like a gazelle from the hunter’s hand and like a bird from the hand of the fowler.”

The Bible clearly warns not to become surety for another person, whether they are a friend or a stranger. Many parents fall into the trap of becoming surety for their children by cosigning for a loan (car, credit card, etc.). This puts the child in debt, stresses the parent-child relationship, teaches the child to use debt instead of discipline, shows a lack of wisdom, and prevents both the child and parent from trusting God to supply needs. As this passage suggest, it is a trap and you must do everything possible to deliver yourself. Instead of looking to the bank or the credit card company, we should focus on God and prayerfully ask Him to provide our needs. After all, He is the One with unlimited resources.

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Related Scriptures: Proverbs 11:15; 17:18; 22:6

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“Never spend your money before you have it.” – Thomas Jefferson