(Proverbs 22:27 KJV) If thou hast nothing to pay, why should he take away thy bed from under thee?
This is the final portion of a scripture cautioning us against co-signing on loans. Many of us had a parent do it when we were getting started in life. Sometimes it works. I was listening to a caller on a pod-cast and it worked the other way for him. His mother had him and his brother co-sign on a house loan. She then proceeded to not pay and ruined their credit. Be really careful here.
The Bible’s recommendation is to not do it at all.
I would treat it the way I loan money. The person receiving the funds may consider it a loan but I consider it a gift. That way if I never get paid back I am at ease. If I can’t afford to lose it, I don’t “loan” it.
Again, the Bible’s says don’t do it.
So? Expect only trouble from bankrolling people who have shown they cannot be responsible. If it is a real need, give, don’t loan.