Monday, August 07, 2006

August 6

I read on Sunday, I just didn't post. Sorry.
My child, suppose you agree to pay the debt of someone, who cannot repay a loan. Then you are trapped by your own words, and you are now in the power of someone else. Proverbs 6:1-3a (cev)

It is stupid to co-sign a loan for somebody. Obviously the lending institution didn't think the person seeking the loan could pay or they would have went ahead and loaned the money. Debt is readily available for people looking for it regardless of credit history so if a person can't get financing, they obviously can't afford it. Save up and pay cash.

My suggestion for personal finance: Dave Ramsey.


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