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Friday, October 14, 2016

The Sayings of the Wise – Part 4

THIRTY SAYINGS OF THE WISE

SAYING NUMBER THREE

Do not be one who shakes hands in pledge or puts up security for debts; if you lack the means to pay, your very bed will be snatched from under you.” (Proverbs 22:26–27, NIV)

The wise take heed to the warnings about guaranteeing the loan of another person.  The old term was called suretyship.  It is becoming a partner in a binding agreement for another person already in a binding contract.  The guarantor ensure that if the first party defaults, he or she will be good for the debt.  "A man must be the worst kind of fool if he enters into business arrangements that will bring him to penury [poverty] and leave him without even a bed to sleep in."[1]

"These verses remind us of the serious consequences of being entangled in someone else's debt. You will probably have to pay off the debt, and if you don't have the means or resources to do so, then you are the one who will lose everything—down to your very bed!"[2]

Solomon has a lot to say about co-signing for another person's loan:

My son, if you have put up security for your neighbor, if you have shaken hands in pledge for a stranger, you have been trapped by what you said, ensnared by the words of your mouth. So do this, my son, to free yourself, since you have fallen into your neighbor’s hands: Go—to the point of exhaustion— and give your neighbor no rest! Allow no sleep to your eyes, no slumber to your eyelids. Free yourself, like a gazelle from the hand of the hunter, like a bird from the snare of the fowler.” (Proverbs 6:1–5, NIV)

Whoever puts up security for a stranger will surely suffer, but whoever refuses to shake hands in pledge is safe.” (Proverbs 11:15, NIV)

One who has no sense shakes hands in pledge and puts up security for a neighbor.” (Proverbs 17:18, NIV)

The safest thing to do is to say 'No'!  Financial debts gone bad ruin friendships and in the Church will dishonor the name of Christ. 






[1] Hindson, E. E., & Kroll, W. M. (Eds.). (1994). KJV Bible Commentary (p. 1240). Nashville: Thomas Nelson.
[2] Anders, Max. Holman Old Testament Commentary - Proverbs: 13 (p. 303). B&H Publishing Group. Kindle Edition.

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