My son, if you have put up security for your neighbor, have given your pledge for a stranger, 2 if you are snared in the words of your mouth, caught in the words of your mouth, 3 then do this, my son, and save yourself, for you have come into the hand of your neighbor: go, hasten,[a] and plead urgently with your neighbor. 4 Give your eyes no sleep and your eyelids no slumber; 5 save yourself like a gazelle from the hand of the hunter, like a bird from the hand of the fowler.
This is practical finance tip #1 from King Solomon. IF YOU GUARANTEED YOURSELF AS THE COLLATERAL, TAKE IT BACK! NOW! WITH URGENCY! CALL. STOP READING THIS! DO SOMETHING ABOUT IT.
I have a close friend who is in debt until now because she acted as a guarantor to her friend. She was smooth talked into taking a role she cannot literally afford. When her friend lost the investment, the loan sharks went after my friend because she signed the document trusting that her friend will not lose the investment. By being a guarantor, she lost two valuable treasures in her life – her friend and her financial freedom.
Kung gusto mo talaga maging guarantor – dahil sa mahal mo ang iyong kaibigan o kamag anak, advise ko iwan mo utak mo somewhere kasi halatang obvious na di mo alam ang pinapasukan mo. Kaya nag warning si Solomon dahil alam niya ang naidudulot nito. Hindi ikaw si Jesus, so huwag kang mag guarantee.
PS: If you really want to be a guarantor, make sure it’s money you are willing to lose, not money you don’t have.
Here is a sample video of a group marketing guarantors: Amazing!!! Bahala kayo!