Christian Finance Blog

26 Don’t agree to guarantee another person’s debt or put up security for someone else. 27 If you can’t pay it, even your bed will be snatched from under you.

Proverbs 22:26-27 (NLT)

Here’s another reason not to co-sign for a loan for anyone. Because the Bible says so! If you do co-sign for someone, make sure you can pay for it because it is your debt. And more often than not, it will become your debt as soon as the person you “helped” stops making payments. This will ruin your credit because it is your debt. In addition to that, your relationship with that person will most likely be ruined as well.

Just don’t do it.