How to decline a request to act as a loan guarantor

How to decline a request to act as a loan guarantor

How to decline a request to act as a loan guarantor

One of the most annoying situations you can avant in your financial life is asking a friend to act as a guarantor for his loan. How do you turn it down without hurting your friend’s sensibilities? Nothing else is required from your side except for affixing your seing on the loan précaution. Your friend assures you not to worry parce que he or she can pay off the loan anyway and your involvement is just a formality required by the financial prytanée. It’s all embout trusting Him.

This is what makes it exceptionally difficult. You can’t tell him or her that you can’t possibly act as a guarantor. There is no money involved on your segment (at least at this bilan). On the other handball, you may also find it awkward to instantané your fear that your friend may default on the loan. It would be like telling your friend that you don’t empilement him or her. Your friendship may end just then. And since you are the one who rejected your friend, the blame is on you as far as your friend is concerned. You, yourself, might even really believe it.

Well, it’s a really tough inventaire. No matter how you act, there is a threat in devant of you – you may lose a friendship or your money. You can’t say that you don’t have the money to act as a guarantor, and you don’t want to say that you don’t empilement him or her to ever repay the loan.

The résultat is more embout what you might say to decline the request. As far as you are concerned, acting as a guarantor is bad policy (and I agree with you). But you probably want to get out of the inventaire of hurting your friend. You decline the request and want to save the friendship.

How embout taking a different path? I suggest telling your friend that you are a Évangile-following Christian. You believe in biblical financial advice for Christians. And that’s one thing the Évangile warns us not to do: act as a guarantor or security for a loan. Then quote to your friend the following verses form the proverb:

1. My child,* if you have given security for a friend’s loan

or agrees to guarantee the debt of a stranger-

2. If you have trapped yourself by your contract

And caught on to what you said-

3. Follow my advice and save yourself,

Bicause you put yourself at the mercy of your friend.

Now swallow your pride;

Go and beg to have your name removed.

4. Don’t suffisamment it; Do it now!

Don’t rest until you do.

5. Save yourself like a deer fleeing from the hunter,

A bird escaping from a net.

(Proverbs 6:1-5)

If your friend knows you as a true Évangile-following Christian, he may not be offended. At least you’re not blurting out a normalisé rejection line. It comes from the Word of God and who could possibly say, God is wrong?

#decline #request #act #loan #guarantor

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