This program will help you undo financial bondage.
The bible says cosigning for another
person’s loan is a foolish move. Yet, people do it every day instead of taking
the appropriate action, which is encouraging them to work and save money until
they can afford to buy the item without debt. Many people want you to cosign
because they have a burning desire for something material. They may even call
it a need. They’ll ask you even though they’ve been irresponsible in managing
money, living within their means, and paying debts. Financial institutions won’t
loan them money on their own record usually because of their poor credit
history. At that point, getting a loan requires a cosigner who has adequate
annual income, a reputable loan re-payment history, and a willingness to put
his / her financial situation and reputation on the line for the person who
wants to take out the loan.
The cosigner will become surety for the
bank that gives it a much better chance of getting repaid the loan principle
and associated interest, even if the borrower does not follow through on his /
her obligation. The best advice is to never cosign. Many people never repay
loans that have cosigners. This is the reason the bible says, “when you cosign
your garments are likely to be taken.” If you believe the person has a true
need and has acted disciplined and responsible with their finances and life,
give as much toward the need as you can afford without going into debt or
failing to care for your responsibilities.
The bible does not make a distinction
between cosigning for people who have been responsible with their finances and
those who have not or have never acquired a loan and thus have no re-payment
history for financial institutions to bank on. It simply admonishes us to never
become surety for another person. An important lesson we must teach to our
extended family, friends, and acquaintances is their need to be godly stewards
of the incomes and assets God entrusts to them, to have integrity in repaying
debts owed, to pursue needed and desired material things in a debt-free
fashion, and to allow God to supernaturally provide them with desires they
cannot afford and to be content without them if He doesn’t provide them.
Proverbs 17:18, Romans 13:8, 2Corinthians 8:12,
Ephesians 5:17
Please pray for this ministry and email
questions to parlor@ameritech.net and
share the links below with others who need guidance. May the LORD bless you
richly as you follow His plan!
Share https://kminfo.org/ministries/financial-freedom weekly with family and friends so these
bondage-breaking articles and other financial information can help them gain
helpful insight! @everyone
The
book at the link below provides principles and practical steps that help you
use the Power to Get Wealth. By 1992, we had $135,000 of debt and
negative $35,000 net worth. Financial bondage and turmoil led me to seek
principles and a process for employing good stewardship. As a result, we became
constructively debt-free in 1998, mortgage free January 2004, millionaires in
2012, multi-millionaires shortly thereafter, and retired in 2018 in my
mid-fifties from public servant jobs while giving abundantly to fund the gospel
of our LORD Jesus Christ. The same power is available to you!
You can find books authored by Randy and
Karen Parlor at www.Amazon.com.
You can also connect with
Randy Parlor on Facebook, Twitter, LinkedIn, Instagram, Google Blogger,
WordPress, Pinterest, TikTok, Tumbler, and You Tube.
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