The idea of becoming surety for a stranger, friend or family member has not been spoken highly of in the Bible. We have been warned about the potential dangers and risks involved in doing so. Despite these warnings, there will still be some people who think their situation is unique and choose to vouch for the debt obligation of someone else by cosigning for them. It is unfortunate that they would ignore this wisdom and put themselves at risk for financial and emotional harm.
So what do you do if you become surety for someone? Is there a way out if you regret your decision? Well again we turn to the wisest man who ever lived.
Deliver Yourself From a Cosigned Loan
In Proverbs 6:1-5, Solomon addresses this situation by saying,