In Scripture, the act of co-signing, or becoming a guarantor for someone else's debt, is cautioned against due to its potential risks and consequences. The book of Proverbs warns against putting up security for someone else, citing the dangers of being liable for their debts (Proverbs 11:15, Proverbs 17:18). Additionally, Proverbs 22:7 and Proverbs 22:26-27 emphasize the importance of being mindful of one's financial commitments and avoiding entanglements that could lead to financial hardship. The apostle Paul also exhorts believers to be responsible with their finances, advising them to "owe no one anything" except love, as stated in Romans 13:8.
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He who puts up security for a stranger will surely suffer, but the one who hates indebtedness is secure.
A man lacking judgment strikes hands in pledge and puts up security for his neighbor.
Do not be one who gives pledges, who puts up security for debts. If you have nothing with which to pay, why should your bed be taken from under you?
Be indebted to no one, except to one another in love. For he who loves his neighbor has fulfilled the law.
My son, if you have put up security for your neighbor, if you have struck hands in pledge with a stranger, if you have been trapped by the words of your lips, ensnared by the words of your mouth, then do this, my son, to free yourself, for you have fallen into your neighbor’s hands: Go, humble yourself, and press your plea with your neighbor. Allow no sleep to your eyes or slumber to your eyelids. Free yourself, like a gazelle from the hand of the hunter, like a bird from the snare of the fowler.