The Bible is very clear that God does not want His children to become responsible for the debt obligations of others. In the book of Proverbs, the Lord has warned us against surety — that is, cosigning or being guarantor for another person.

 Read Proverbs 6:1-5, Proverbs 17:18, and Proverbs 22:26. What is the message here?

 Surety usually occurs when a person with poor credit seeks a loan from a lending institution and does not qualify for the loan. The loan officer will tell the unqualified person that if he or she will get a friend with good credit to cosign with him or her, then the bank will grant the loan and hold the cosigner responsible in the event of a default.

 Sometimes a fellow church member will come to you and ask you to cosign. Your response should be: “The Bible says I should never do that.” Please understand that the Bible encourages us to be helpful to those in need, but we should not become responsible for their debts.

 Parents are sometimes asked by teenagers to cosign for the purchase of their first car. Or older adult children will ask parents to cosign for a business loan. The same answer applies. It is appropriate to help others if there is a real need, but do not become surety for the debts of others. Studies show that 75 percent of those who cosigned end up making the payments!

 Read Proverbs 28:20 and 1 Timothy 6:9, 10. What’s the warning here?

 Get-rich-quick schemes are another financial trap; they are almost guaranteed to lead to financial ruin for those who get caught up in them. When it sounds too good to be true, it surely is. Many people are hurt emotionally and financially. An additional tragedy with these devious plans is that, in many cases, individuals have had to borrow money to become involved in them in the first place. Many lives and families have been ruined by get-rich-quick schemes that end up enriching only the con artists who devise them, at the expense of those who fall into their trap. When a friend, or even a loved one, tries to pull you into one of these schemes, run. Not walk. Run — as fast as you can.