My child, suppose you agree to pay the debt of someone, who cannot repay a loan. Then you are trapped by your own words, Proverbs 6:1-2(CEV)
Assuming responsibility for another’s actions is taking their place. It’s getting trapped by yourself. You’re not just helping secure a loan for another but you’re also agreeing that you’re going to pay back that loan in case they default or fail. Therefore, simple and plain wisdom is whether it’s for a relative, or friend, only guarantee a loan if you’re willing and are able to pay back in case they default or fail. Now Scripture tells us to help carry each other’s burdens – Galatians 6:2 The wisest thing to do for someone who seeks financial help is to contribute what you’re able to give and readily have.