Dear Dave,
We’ve been getting on track financially using your plan, but now my husband’s parents wants us to co-sign on a new car. I think it’s a bad idea, and have asked him to not do this. We’re just on Baby Step 2, so any catastrophe would really set us back. What if my husband does this anyway? Do you have any tips on grace, or what do besides the “I told you so” lecture?
Genevieve

Dear Genevieve,
You’re right about one thing. Co-signing for that car would be a very bad idea.

But I’m not sure this is the time for grace and understanding. I think this is one of those times when you stand in the driveway, and don’t let him leave. Just tell him no! I understand that we’re talking about family, and that makes it more difficult for him. But this guy needs to understand that he’s putting your relationship in jeopardy if he completely goes against your wishes on something that you are adamantly against.

I’m serious about this. If the deal falls through, and there’s a pretty good chance it will, it’s not going to be just a setback or inconvenience for you guys. This kind of thing could potentially bankrupt your family. It could also cause big-time problems between your husband and his parents.

Do you know why banks want co-signers? It’s because they don’t think the people who want the loan will pay the bill! You’re basically being asked to stick your head in the noose so the bank can hang you when they don’t pay up!

Don’t do it, Genevieve. Don’t you ever co-sign for anyone, and don’t let this happen. In the Contemporary English Version of Scripture Proverbs 17:18 reads, “It’s stupid to guarantee someone else’s loan.” That’s not me speaking. That’s God’s word!
- Dave