Proverbs 6:1
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My son, if thou be surety for thy friend, if thou hast stricken thy hand with a stranger,
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What is suretiship? What is wrong with it? What wisdom should we learn from this frequent warning?
You are a surety when you guarantee the financial payments or personal performance of someone else. In this case, you promise a third party - a stranger - that your friend will make his payments or do what is expected; and you promise to pay the debt yourself or be held personally liable, if your friend cannot or does not do what is required of him.
Such financial deals, before mass personal bankruptcies and computerized credit analysis, when a man's word was good enough, were formalized by shaking hands (17:18; 22:26). To strike, or join, hands was an ancient form of entering into contracts in all countries and in all ages (Job 17:3; Ps 144:8,11). The Oxford English Dictionary helps us here:
Strike. 69. To strike hands (said of two parties to a bargain): To take one another by the hand in confirmation of a bargain; hence, to ratify a bargain with (another).
Today we call this cosigning a loan. The wisdom of God is against rashly guaranteeing debts of others without careful review of their character (11:15; 20:16), the extent of the obligation (22:3; 14:15), and your ability to pay it off (22:27). Off balance sheet accounting and excessive contingent liabilities are condemned by the wisdom of God.
Sober suretiship may not only be allowable, but prudent, charitable, and necessary (Philemon 1:18-19; Gen 43:8-10; Isaiah 1:17). If a godly friend or poor person is in need for an amount you can afford, then there is no sin in the act of charity and friendship to help them. The folly of suretiship is hasty promises and excessive commitments.
Haste and pride cause foolish promises. Haste utters words and shakes hands before knowing the extent of an obligation; and pride wants to be seen as a man of means, which is done publicly by guaranteeing debts, even though it may have few assets for payment.
Jesus is our Surety. He gave His word and bound His soul to death for the infinite debt of His people, which guarantee no man on earth, angel in heaven, or devil in hell can cancel.
As a loving father teaching his son, Solomon warns against being a surety for friends, which he condemns often in Proverbs (6:1-5; 11:15; 17:18; 20:16; 22:26-27; 27:13).
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