Don’t cosign # 2
August 2, 2019
I’m Miriam Neff with STARTING OVER FINANCIALLY, and I’m Valerie Neff Hogan, Lets talk about money.
M Why do we say NEVER cosign a loan? Because its not biblical. Proverbs 17: 18
Why are you being asked to cosign that loan? Because that person’s credit rating and ability to repay does not merit the terms he or she wants, lower rate and lower monthly cost. They simply want something they can’t afford.
V Be careful to be the supplier of another’s needs. Even friend, or family. God says takes our needs to Him. He provides what He knows is necessary Philippians 4:19 ‘And my God will meet all your needs according to the riches of his glory in Christ Jesus.’
M That’s a pretty radical statement. That person might need to pause and save, change from a wish to what is possible.