Putting Up Security – Proverbs 6:1-5

WSB-TV had an informative piece on the dangers of co-signing for a loan, you know, where you guarantee or act as the security for someone else paying back what they were loaned.  They claim that 4 out of every 10 people who co-sign for a loan end up having to pay the loan themselves.  This practice existed in Israel as well, and Solomon, maybe surprisingly, makes it an issue of wisdom with his son.

My son, if you have put up security for your neighbor,

have given your pledge for a stranger,

if you are snared in the words of your mouth,

caught in the words of your mouth,

then do this, my son, and save yourself,

for you have come into the hand of your neighbor:

go, hasten, and plead urgently with your neighbor.

Give your eyes no sleep

and your eyelids no slumber;

save yourself like a gazelle from the hand of the hunter,

like a bird from the hand of the fowler. (Proverbs 6:1-5, ESV)

Do you mind going broke for someone else’s debt?  If you don’t, then go ahead and contract yourself to be security for their debt if they default.  If you really love them you will be willing to do this, right?  Perhaps.  But human nature is such that when there is no pressure to fend for one’s livelihood then it is time to relax.  Put off to tomorrow what must be done today because someone else is covering you.

Now admittedly, this warning is speaking about someone who is a neighbor or stranger as opposed to someone who is family.  Surely family would not leave you on the hook and cause the downfall of your wealth!  Hmm.  And maybe it would not really be the loving thing to do for your family member either, if it only encourages a general irresponsibility in them.  Make a wise choice.