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One thing GOD has instructed us not to do which many of us continue to do is become a surety for another. We are not to co-sign for our family, our friends nor our children. It may be hard to say no when loved ones ask. However, it is the commandment of GOD. People find themselves paying for cars, furniture or loans when someone else defaults on what they owe. Obedience will prevent such trouble.
Proverbs are not commandments, or prophecies or promises of God. Proverbs are generally true, but may not be the case all the time. So not co-signing a loan for anyone is more of common sense than following a "commandment" in the book of Proverbs. Also we need to remember that this is Old Testament, we have something better - the NT, which says give to everyone who asks...
To me, when GOD says "Be not a surety in another man's matter, He IS commanding us to abstain from cosigning for others from renting cars, insuring the cars of others and other such things. And, He is attempting to provide a,measure of protection for us, so we are not held accountable for financial decisions of others or being used by others to our detriment.
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