Tuesday, June 6, 2017

Be Wise & Don't Co-sign For Others Proverb 6:1-5

One of the most idiotic things anyone can do is to co-sign for a loan. Regardless of who you are helping, the statistics prove that the co-signer ends up paying the loan off over 50% of the time. Consider the reason one would ask you to co-sign for them. They know you will pay the loan off if they cannot, and their track record proves they either don't pay off their debt, or they never had a loan before.

The Scripture I have chosen to comment on today's Proverb, are verses 1-5.
My son, if you become surety for your friend,
If you have shaken hands in pledge for a stranger,
You are snared by the words of your mouth;
You are taken by the words of your mouth.
So do this, my son, and deliver yourself;
For you have come into the hand of your friend:
Go and humble yourself;
Plead with your friend.
Give no sleep to your eyes,
Nor slumber to your eyelids.
Deliver yourself like a gazelle from the hand of the hunter,
And like a bird from the hand of the fowler.
Proverb 6:1-5
OK, I know we love our children, but the best way to help them is to not set them up for failure. So instead of co-signing on a loan from a bank for them, you would be better off purchasing the car outright and give it to them as a gift. If you cannot afford it, them maybe give them the money for a down payment as a gift. Notice I said gift, not loan. However, the best thing is to find them a used car they can afford or give them the bus schedule and tell them to save up some money for a used car. (usually the bigger the down payment they have, the more likely a loan can be obtained).

Let's say a friend needs help and they ask if you would co-sign for them. I would seriously consider the damage it would do to your relationship should you have to pay off the loan. Your relationship will never be the same, as resentment, anger, and betrayal could follow towards your former good friend. You can, and you should forgive them, but it will likely never be totally forgotten, and the trust will be shattered forever. Ultimately, co-signing is just not worth risking this damage.

Consider what other passages in the Bible say about putting yourself in debt for another person?
A man devoid of understanding shakes hands in a pledge, And becomes surety for his friend. (Prov 17:18)
He who is surety for a stranger will suffer, But one who hates being surety is secure. (Prov 11:15)
Take the garment of one who is surety for a stranger, And hold it as a pledge when it is for a seductress. (Prov 20:16
Do not be one of those who shakes hands in a pledge, One of those who is surety for debts; If you have nothing with which to pay, Why should he take away your bed from under you? (Prov 22:26-27)
So, co-signing means that: "you are devoid of understanding," "you will suffer," "you have been snared," and “you could lose your bed". I admit I am not as knowledgeable as a banker on loans, but I do have a credit rating that is over 850. Trust me, I did not get it by co-signing on loans for friends and family members I know are not trustworthy If they need help, I would rather just loan them the money and then count it lost until they pay it back.

Here are a few rules I offer that will keep you from destroying a friendship, ruining your credit, or setting your child up for failure.
"Don't co-sign for your kids to get student loans."
"Don't co-sign for your kids to get car loans."
"Don't co-sign for your mom to get a house."
"Don't co-sign, because you're going to end up paying it, and it's stupid. Don't co-sign ever.
"Never, under any circumstances, ever co-sign."
"Co-signing is one of the dumbest financial things you can do."
"There is no reason to ever co-sign."

Strict I know, but common logical sense is a black and white fact, and the only way to protect yourself is to keep from putting yourself in danger of being in debt for a friend, relative, or child.

Now let's say your friend, relative, or child in a place that you cannot see them getting on with life without the loan. Well then get the loan, or purchase the item they need yourself. That way you will have total control over the property, car, or whatever the loan is for. The person you are taking out the loan for can make then the payments to you. If they default on the payments to you, then you can sell the property you own to recoup your loss.

If you still feel the desire to help another, then consider what Proverb 19:17 says;
He who has pity on the poor lends to the LORD, And He will pay back what he has given
So help them with the understanding that you may have to pay the loan off yourself, and make a promise in your heart that you will forgive and forget the failure of the person to keep up their end of the deal. In the end, the Lord will restore that which you lost and reward you for your kindness.

Ultimately, co-signing is just not worth the potential harm it can cause, because it can ruin your financial health, your credit rating, and your ability to get a loan for yourself in the future. It can and often does ruin relationships.

I pray that those who have ears to hear will hear His voice and call upon the name of the Lord Jesus Christ.

Amen and may the good Lord bless you and yours

Proverb 6 (NKJV)

Dangerous Promises

Seven Deadly Sins

01 My son, if you become surety for your friend,
00 If you have shaken hands in pledge for a stranger,
02 You are snared by the words of your mouth;
00 You are taken by the words of your mouth.
03 So do this, my son, and deliver yourself;
00 For you have come into the hand of your friend:
00 Go and humble yourself;
00 Plead with your friend.
04 Give no sleep to your eyes,
00 Nor slumber to your eyelids.
05 Deliver yourself like a gazelle from the hand of the hunter,
00 And like a bird from the hand of the fowler.

The Folly of Indolence

06 Go to the ant, you sluggard!
00 Consider her ways and be wise,
07 Which, having no captain,
00 Overseer or ruler,
08 Provides her supplies in the summer,
00 And gathers her food in the harvest.
09 How long will you slumber, O sluggard?
00 When will you rise from your sleep?
10 A little sleep, a little slumber,
00 A little folding of the hands to sleep--
11 So shall your poverty come on you like a prowler,
00 And your need like an armed man.

The Wicked Man

12 A worthless person, a wicked man,
00 Walks with a perverse mouth;
13 He winks with his eyes,
00 He shuffles his feet,
00 He points with his fingers;
14 Perversity is in his heart,
00 He devises evil continually,
00 He sows discord.
15 Therefore his calamity shall come suddenly;
00 Suddenly he shall be broken without remedy.

16 These six things the LORD hates,
00 Yes, seven are an abomination to Him:
17 A proud look,
00 A lying tongue,
00 Hands that shed innocent blood,
18 A heart that devises wicked plans,
00 Feet that are swift in running to evil,
19 A false witness who speaks lies,
00 And one who sows discord among brethren.

Beware of Adultery

20 My son, keep your father's command,
00 And do not forsake the law of your mother.
21 Bind them continually upon your heart;
00 Tie them around your neck.
22 When you roam, they will lead you;
00 When you sleep, they will keep you;
00 And when you awake, they will speak with you.
23 For the commandment is a lamp,
00 And the law a light;
00 Reproofs of instruction are the way of life,
24 To keep you from the evil woman,
00 From the flattering tongue of a seductress.
25 Do not lust after her beauty in your heart,
00 Nor let her allure you with her eyelids.
26 For by means of a harlot
00 A man is reduced to a crust of bread;
00 And an adulteress will prey upon his precious life.
27 Can a man take fire to his bosom,
00 And his clothes not be burned?
28 Can one walk on hot coals,
00 And his feet not be seared?
29 So is he who goes in to his neighbor's wife;
00 Whoever touches her shall not be innocent.

30 People do not despise a thief
00 If he steals to satisfy himself when he is starving.
31 Yet when he is found, he must restore sevenfold;
00 He may have to give up all the substance of his house.
32 Whoever commits adultery with a woman lacks understanding;
00 He who does so destroys his own soul.
33 Wounds and dishonor he will get,
00 And his reproach will not be wiped away.
34 For jealousy is a husband's fury;
00 Therefore he will not spare in the day of vengeance.
35 He will accept no recompense,
00 Nor will he be appeased though you give many gifts.
The purpose of Writing the book of Proverbs was to reveal the mind of God in matters high and lofty and in common, ordinary, everyday situations. It appears that no topic escaped King Solomon's attention. Matters pertaining to personal conduct, sexual relations, business, wealth, charity, ambition, discipline, debt, child-rearing, character, alcohol, politics, revenge, and Godliness are among the many topics covered in this rich collection of wise sayings.

Without wisdom, knowledge is nothing more than an accumulation of raw facts, influenced by emotional feelings. Many highly educated people are in positions of power in the United States, but very few of those educated leaders have the wisdom needed to rule properly. .

One can say that they have been educated well beyond their intelligence. A cursory look at the court system will prove my point that knowledge without wisdom will only lead to an immoral society that eventually crumbles from within. Judges are supposed to be above the fray, and immovable to emotions. Instead, the vast majority of judges today are Godless individuals who are vacant of wisdom. So their rulings are totally based upon emotional feelings. .

We the people are to blame, because we ignored God's guidance in appointing our leaders. Instead of putting leaders full wisdom in power, we instead chose those who would scratch our itchy ears to lead us. .

Of the 31 Proverbs, only the first 24 were written by Solomon. King Hezekiah wrote 5, Proverbs 25 to 29, Agur wrote Proverb 30, and Lemuel wrote Proverb 31. Now many believe Lemuel was in fact King Solomon and Lemuel was just a nick name his Mother, Bathsheba gave him. We are told that Solomon write over 3000 Proverbs and composed 1000 songs, but the only Proverbs God decided to preserve for us are Proverbs 1-24. Like the New Testament epistle by James, it is impossible to get a chronological outline for a study since they all bounce from subject to subject..

Along with my daily routine of reading the Bible, I try to read through the book of Proverbs once a Month. It's an easy task when you consider there are 31 Proverbs. So all you need to know is what day of the Month it is. In the Months that have 30 days, or in the case of February, I just double up by reading more than one two proverb so I can begin the next month with Proverb 1 on the first again.

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