A Surety Thing

Proverbs 6:1 (KJV) My son, if thou be surety for thy friend, if thou hast stricken thy hand with a stranger,

I know I don’t need to remind you of what this is saying.  Then again, maybe I do.  This goes beyond irresponsible spending on ourselves and gets to the point where we step forward and help someone else spend irresponsibly.

If we are looking at a neighbor or a friend who is in genuine need then we have a responsibility to help.  That doesn’t mean guaranteeing loans.  It might mean a gift of cash.  It might mean a box of groceries.  It might mean some babysitting . It might be many things, but it does not mean putting your name on the line so they can buy a new car or a new home.

So?  The word of God sticks His nose in all of our areas of concern.  That is because God is concerned about all of our areas.  That includes our finances and the promises we make to others. Be careful out there.  

EZ Credit

Psalms 37:21 (KJV) The wicked borroweth, and payeth not again: but the righteous sheweth mercy, and giveth.

(Proverbs 26 also read)

A recurring theme in scripture is the danger of being a borrower, and even in the danger of being a lender.  In the Old Testament law, I believe Jews were forbidden from lending at interest to their fellow Jews.  They were allowed to charge interest to foreigners, strangers, sojourners, and such, but not the Jews.  Jews were their family and you don’t take advantage of family

I don’t know if I’m on solid ground, but I think this would refer to loaning money to people who are going through hard times and can’t buy food for the children.  I don’t know that it refers to business deals.  Loaning money to someone going into business in order to make a profit, seems legitimate, but I’m not sure the Bible makes that exception.

So?  As believers we are to give, not loan.  Generally when people have asked me to borrow money because they’re in need I will take this approach.  If I have it, I will tell them it is a gift.  If they want to someday give me a gift back that’s fine, but they are under no burden.  If I can’t afford it, I say so.  I think that’s the way the Bible wants us to do it.

A Response to Debt

Proverbs 6:3 (KJV) Do this now, my son, and deliver thyself, when thou art come into the hand of thy friend; go, humble thyself, and make sure thy friend.

Again, I find that the Septuagint has an interesting spin on the text of the Old Testament.  I really don’t know how accurate it is, but I like the applications that it gives me.

Proverbs 6:3 (BES) My son, do what I command thee, and deliver thyself; for on thy friend's account thou art come into the power of evil men: faint not, but stir up even thy friend for whom thou art become surety.

If the clear direction of God is not enough to convince you that debt is bad, if your own struggles to pay the interest payments don’t make you regret your decision to buy something you really didn’t need, the 70 give you another reason to get out of debt:  Do it for your friend.

We are told to get serious and to work on getting out of debt.  We are told to make it almost a public issue.  And part of the reason given here is so that we can “stir up our friends” and get them perhaps to follow her example.

So?  People watch us.  We are an example.  Be aware that what you do and why you do it affects other people both positively and negatively. 

Foreclosure

(Pro 22:27 KJV)  If thou hast nothing to pay, why should he take away thy bed from under thee?

I have mixed feelings about this verse.  On the one side, it seems unfair to the person who loaned the money.  Are you not supposed to get your loan paid back?  It would seem that is the case.  This reflects the biblical view of borrowing money and going into debt.  It is really frowned upon.  Debt is equated with slavery.  There is a limit put on it in biblical thinking.

On the other hand, this seems like it could be the beginning of the concept of bankruptcy.  When a person cannot pay, you don’t throw them in jail.  You have standards and rules, which limit how much you can take away from someone.  I’m not an expert by any means on bankruptcy, but I think that you are allowed to keep certain assets such as maybe a home.  The creditors can only take so much.

I think part of what is going on here is that they are concerned about people that make bad loans.  Does the word “lone shark” mean anything to you?  There are people who loan money knowing that they probably won’t get it paid back.  They make their profit by confiscating what is offered as security.

So?  Keep in mind that the Bible is really down on being in debt . I did borrow for tuition one year, but that was in the day when you paid it back.  I had a home mortgage.  I borrowed money from my parents once when my car blew up.  Other than that I don’t think I have had experience in loans.  Everyone’s situation is different.  I would urge you to do everything you can to stay out of debt.

Beware the Auditor

(Pro 28:8 KJV)  He that by usury and unjust gain increaseth his substance, he shall gather it for him that will pity the poor.

The second half of this verse is a bit obscure but that makes it frightening.  Obviously God is not happy with the idea of loaning money at interest.  Owing money is a form of slavery and it is a bondage that can keep us from being responsive to the leadership of God.  The second part takes this a step further.  It seems to make God the auditor and tax man.

It seems to me that this is saying God will find a way to pass the wealth of the money lenders on to the poor.  I don’t know how that will work but there it is.  

So?  God expects us to earn our bread by the labor we contribute.  That can be as a field hand or as a merchant.  Each contributes something to the process.  It would seem doubtful that people who make their money on the misfortune of others are in a different category. 

Credit Enablers

(Pro 22:26 KJV)  Be not thou one of them that strike hands, or of them that are sureties for debts.

We live in a day of easy credit and easy forgiveness of credit.  One of the political footballs being tossed around today is the forgiveness of college loans.  In the lockdowns we had the government declaring that tenants did not need to pay their rent.  I hear ads on the radio about how a law office can get you out of paying back taxes.  It is often stated that you can negotiate with credit card companies to reduce your debt.

What is being stated here is that we should not be part of anything that enables people to get into debt.  We should discourage college students from getting credit cards.  We should send out children to community colleges instead of the high cost university.  We should drive the smaller car and stay in the less than elegant hotels.

So?  Live within your means and expect others to do so also.  If it is a crisis then our place is gifts not loans.  If their problem isn’t important enough to get us to simply give them what they need then it probably isn’t something that a loan will cure. 

Can You Spare Me a Dime

(Pro 19:7 KJV) All the brethren of the poor do hate him: how much more do his friends go far from him? he pursueth them with words, yet they are wanting to him.

My impression is that the Bible tells us to care for the weak and helpless.  I would think that would include our “friends” (4828), but this runs counter to that.  I am guessing that one reason for the difference is that we know our friends well enough to judge their needs.  Strangers are different.  They could be genuine or frauds.  Those who are involved in our lives are more of an open book to us.

Another difference is that they are in a position to “pursue” (7291).  This has all of the meanings, good and bad, of someone hounding you.  They keep coming.  They are hard to get away from.  

So?  Perhaps this is a reminder that we should not be always hitting up relatives for hand outs and loans.  Keep in mind that they know us well enough to give us some advice we don’t want. 

Giving Credit

(Pro 28:8 KJV) He that by usury and unjust gain increaseth his substance, he shall gather it for him that will pity the poor.

One of the building blocks of our modern prosperity and consumer culture is the existence of easy credit.  I recently talked to a college student who was getting his first credit card.  I think he is alert enough to use it wisely and control his spending.  I can’t say that for most people.  Our system is based on people buying a lot of things.  That in turn creates a lot of demand for goods which makes for more jobs.  In one sense it is a cycle that raises everyone’s ability to support their families and live a secure life.

In another sense it drives people to overspend and buy what they can’t really afford because they can make it to the next paycheck.  One summer my children kept demanding to eat so I took a third job selling encyclopedias door to door.  The only reason I did it was because they guaranteed a certain minimum if I would make a specified number of calls.  One thing I remember being told was to not talk about the total cost of the product but to emphasize how low the monthly payment would be and how a few dollars a month would help their children.  

So?  Debt is evil.  Maybe we would be better off if we had mothers home without the second car and the constant eating out.

Don’t Shake on It

(Pro 22:26 KJV) Be not thou one of them that strike hands, or of them that are sureties for debts.

The literal meaning of the Hebrew is given by the KJV in “strike” (8628) “hands” (3709).  I guess it could be clap hands.  This could be where we get the idea that a deal is not finalized until we shake on it.  That really is a side issue though.  The core though here is to not get into co-signing a loan.  I would think that in an age of capitalism there might be some questions about buying stock or investing in new issues.  Venture capitalists would need to think seriously about how this applies to them.

This could be understood to not co-sign on a loan for your son’s car.  In addition to protecting you from loss, it might also be important because it would teach the young man responsibility.  It is probable that if he cannot qualify for a loan he does not need the car.

So?  Our financial commitments come under the title of holy living, just like everything else.

Two Traps

(Pro 6:1 KJV) My son, if thou be surety for thy friend, if thou hast stricken thy hand with a stranger,

Credit is a trap.  Contracts can make us slaves.  What I found interesting is not that both are dangerous but that the people offering the loan or deal can be either someone you know or a complete “stranger” (2114a). 

How often to we hit up a family member or close friend for a little bit of a loan and never get around to paying it back?  How often do we sign up for things on line or through the mail?  Recently I was thinking of getting a magazine subscription for my wife but to do so would require me giving out information that I did not want to give.  You may have been one of those who signed up for something like a gym membership and found out how hard it is to stop the deductions from your credit card.

So?  Walk carefully.  It might be bad for the economy if everyone went all cash but it would sure be good for God’s people if they would do it. 

Of Interest

(Proverbs 28:8 KJV)  He that by usury and unjust gain increaseth his substance, he shall gather it for him that will pity the poor.

I have yet to find anyone who is in love with Bank of America.  I have never done significant business with them so I don’t really have any bad feelings.  If you listen, you find that just about every bank in business is targeted by a lot of anger.  Sometimes that is just us being petty and jealous of the rich and successful.  Sometimes the hostility is because of one employee who should be fired.  Too often the criticisms are deserved. 

We are so used to banks and credit unions that we think they are as natural as motherhood.  I would venture to guess that many people wonder if Marco Polo used Discover or American Express.  It amazes me how many people pay for minor purchases with some sort of plastic.  We live on credit.  We should not be doing it.  God seems to have some real issues with money that is made simply by interest.  It isn’t the profit that is the problem, it is the method.

So?  It would be nice to live in a perfect world where we paid as we go.  Governments are trying to move us in the other direction.  That should give you something to think about as you go about your day and find yourself in situations that will not accept cash. 

Sleep on It

(Proverbs 22:27 KJV)  If thou hast nothing to pay, why should he take away thy bed from under thee?

The Bible is generally in favor of being responsible in our finances.  This verse is a bit jarring.  I believe if someone borrows money, they should pay it back.  Yet this verse seems to be saying there are limits.  Sending the collection agency should stop before you put someone on the street.

Keep in mind that this is written in a culture where you could be sold into slavery for debts.  It wasn’t like today where you declare bankruptcy and walk away free.  And notice that this is directed toward the one who owes the money, not the one desiring to be paid back.

So?  I guess that the consistent position in all this is that we should not loan money we are not willing to lose.  I would suggest that you should also not lend money to someone who does not really need it or has a lifestyle of sloth that creates the need.  Of course the other side of that is to be willing to give if there is a real need. 

Giving the Shirt on Your Back

(Proverbs 27:13 KJV)  Take his garment that is surety for a stranger, and take a pledge of him for a strange woman.

From whom are we to “take” (3947) the “garment” (899b)?  From the one who guaranteed the loan, not from the borrower who did not pay.  In this case the one who co-signs is considered as much a fool as the one doing the borrowing.  He is as much a fool and more accountable because he knows better. 

How many actions will we take that are foolish but we make excuses for doing it.  This summer has seen a slew of natural disasters.  Fires in California.  Hurricanes in Texas and Florida.  Earthquakes in Mexico.  As Christians our hearts respond and our pocketbooks are touched.  How many have been irresponsible enough to give their hard earned and much needed money to charities that use most of it to pay bloated salaries to executives and buy advertising to generate more income?  It is not a question of giving, it is a question of giving wisely.

So?  Don’t co-sign unless you are willing to give the shirt off your back in the process.  God might demand it. 

Live Like a Weak Link

(Proverbs 6:1 KJV)  My son, if thou be surety for thy friend, if thou hast stricken thy hand with a stranger,

Recently I was reading a poster that started off talking about free men and ended up talking about slaves.  The quality that designated a slave was being in debt.  That bit of truth comes straight from the Bible.

(Proverbs 22:7 KJV)  The rich ruleth over the poor, and the borrower is servant to the lender.

This verse is adding support and context to the idea from chapter 22.  One of the entanglements we are to avoid is debt.  Another is helping others get into debt.

You may have heard the expression “What’s good for the goose is good for the gander.”  One reason we are to live an exemplary life style is so that we can help others avoid the mistakes that we know to avoid.

So?  Do it for the children, and the neighbors and the friends and the enemies, for that matter.  Live like you are the weak link. 

Debt Slaves

(Proverbs 22:7 KJV)  The rich ruleth over the poor, and the borrower is servant to the lender.

It has been a long time since I was living hand-to-mouth.  As I approach retirement I can’t guarantee that the time will never come again.  At the same time I discovered early in life that the problem with borrowing is that you need to pay it back.  Some people never learn that.  As a result their credit cards are to the max and if they own a home they have an equity line of credit that will keep them from paying it off in this life time. 

In spite of that I can only think of one time I had to make a panic loan and for that I turned to my parents.  The Bible is clear:  Stay out of debt.

The NASB makes this a stronger statement than the KJV.  The Hebrew and Greek words that are translated “servant” can  also be translated “slave”.  There was not much difference.  Both lived at the whim of their master.  Neither had much wiggle room in their lives.  Compare that to the modern American who works to pay the interest on their plastic.  Compare that to the American nation that is living on deficits.  It leads to slavery whether you want to call it that or not.

So?  Bite the bullet.  Tighten your belt.  Clip coupons.  Shop thrift stores.  Drive old cars.  Keep yourself free so that God can use you when the time it right. 

Losing Your Shirt

(Proverbs 20:16 KJV)  Take his garment that is surety for a stranger: and take a pledge of him for a strange woman.

Notice who is being condemned here.  It is not the person taking the loan but the one making it.  Don’t get confused, it is not saying it is okay to borrow.  It isn’t but that is covered many other places.  Here the warning is for the one who guarantees the loan. 

One of the reasons that credit is getting so out of hand in our country is that people are covering the spenders.  The credit card companies carry the spendthrifts.  They must figure they will get enough interest along the way to make the risk worthwhile.  The government guarantees house-of-cards loans and encourages people to live beyond their means.  It is everywhere.  God says no.

So?  Don’t co-sign.  That is obvious.  What isn’t so obvious is the ways in which we support political and social actions that shield people from their own irresponsible decisions.  Or maybe we could say the same about the children we spoiled.

The Wages of Debt Is Sin

(Proverbs 22:7 KJV)  The rich ruleth over the poor, and the borrower is servant to the lender.

How do we avoid becoming a “servant” (slave NASB) (5650)?  Here the advice would seem to be, “Don’t borrow”.  Most of us would believe that is easier said than done.  Is credit borrowing?  How do you buy a home if the price is going up faster than you can save?  Are there any situations where it is acceptable to borrow?

We are a bit isolated from this because we are no longer sold into slavery for out debts.  Christian financial advisors will often make exceptions for a home mortgage.  The problem for most of us is not the mortgage, it is the credit card.  When done responsibly a mortgage requires enough of a down payment so that there is always enough equity in the home to pay the remainder of the mortgage.  On credit cards that is not the case.  On student loans that is not the case.  The bank takes a risk to charge higher interest on one and the government guarantees the other.  Those types of loans either put you in bondage to repay or teach irresponsibility.

So?  Debt makes us live in ways that might not be the best for us.  It might keep us at a job that is wrong for us.  The interest takes away from other priorities.  Do some serious thinking about this.  Don’t just blow it off because you don’t want to take the bus. 

Borrowing Trouble

(Proverbs 28:10 KJV)  Whoso causeth the righteous to go astray in an evil way, he shall fall himself into his own pit: but the upright shall have good things in possession.

There is no clear statement here that the person doing the leading is automatically “evil” (7451b).  The results of their action clearly are but it does not say they are themselves.  Let’s look at the context to get a feel.  That does not always work in Proverbs but bear with me.

In verse 8 we see reference to usury and unjust gain.  One of the major traps of life all through history has been debt.  It was one of the three ways that people could end up being sold into slavery.  Debt is a destroyer.  In our modern times where everything is based on debt and our credit score it gets even worse.  We not only have all the shiny toys, now we can buy them.  In ancient times people went into debt from desperation.  Now we go into debt because we want more than we can pay for now and are not willing to wait for satisfaction.  Credit cards and “needs” destroy individuals and families.  It is destroying our country.

How does this come back to bite the lender?  When you get an entire culture living beyond its means then eventually things fall apart.  Think of Paris during the French Revolution or Russia in 1917.  To be wealthy was to be a target.  It could happen here.

So?  When someone comes to you for a loan think twice before you say “yes”.  Maybe think three times.  Do they really need it?  Are you contributing to their destruction?  Are you laying the groundwork for hostility toward yourself?

Borrowing Trouble

(Proverbs 28:8 KJV)  He that by usury and unjust gain increaseth his substance, he shall gather it for him that will pity the poor.

If you are looking for a Biblical statement to criticize our modern American way of doing things, this is a place to start.  Of course, it also applies to the rest of the world and, if you are being honest, to the entire course of history.  Lending, borrowing, debt and “interest” (5392) have always been traps that are waiting to be sprung.  The Biblical standard is wealth based on labor and businesses that produce a product and sell it for profit.

The trap is in the seductive aspect of immediate gratification.  You may have listened to Dave Ramsey on the radio.  He is death on debt.  He will concede a home mortgage if you have saved up the 20% down payment but beyond that he says a big “No!”  He does not even want you to have a credit card for “emergencies.”  Why?  Because most people find that the term “emergency” covers anything they want now but don’t have the cash for.  Usually that is the opening door to financial slavery.

So?  Take this seriously.  Don’t blow it off because you like to charge things.  Credit, debt, interest, and borrowing are traps that God is warning us against. 

Let It Go

(Proverbs 22:27 KJV)  If thou hast nothing to pay, why should he take away thy bed from under thee?

Loans, credit, usury.  These are a part of modern culture.  Some people think that our economy would tank if people went back to saving up and paying cash.  That does not change the Biblical standard.  The Bible says, “Don’t borrow.”  It also seems to be unhappy about lending but if you do there are restraints.

Christian lenders have limits on how far they can go to collect what is owed them.  Here the illustration is to take someone’s “bed” (4904) from them.  What Proverbs is telling us is that if we were foolish enough to loan money to people who will not pay it back then don’t use the law and the contract to extract your pound of flesh.  It is unbecoming and unchristian.  Is if fair?  Not really.  Many people who cannot pay their debts have plenty of money for the fun things of life.  Many have lived beyond their means.  A few actually have situations beyond their control.

So?  Again, don’t lend.  If you do, accept the results.