5 Verses About Cosigning Loans
A person must be very cautious when cosigning a loan. In most cases, co-signing is probably best avoided altogether. When you cosign a loan, you are held financially responsible for the loan, just as much as the other signer. Late payments will impact your credit score. Their default is your default.
While the Bible doesn't say cosigning is a sin, scripture does encourage us to approach cosigning with wisdom. Here are five verses related to cosigning: