Proverbs 6:1-5 My child, if you co-sign a loan for a friend or guarantee the debt of someone you hardly know -- if you have trapped yourself by your agreement and are caught by what you said -- quick, get out of it if you possibly can! You have placed yourself at your friend's mercy. Now swallow your pride; go and beg to have your name erased. Don't put it off. Do it now! Don't rest until you do. Save yourself like a deer escaping from a hunter, like a bird fleeing from a net. It is a common practice to co-sigh for a loan for other people to be able to buy a car or a house. But the Bible says to stay away from that.