The first two verses could have easily read, “My son, if you co-signed for someone other than family, if you are upside down in a loan for a vehicle-”
The result is the same: “You have been trapped by what you said, ensnared by the words of your mouth.”
We are told to do whatever it takes to get out of the deal-even at a loss! God does not deal on worldly logic. He bases His logic on His terms. Evidently, God wants us to be indebted to Him only.
Ideally, we should be able to purchase a car, house, etc. without taking out a loan. Knowing that to do so is next to impossible, we CAN do some things to mitigate the problem and excelerate paying off whatever it is.
1. Take a loan out on only what is necessary to live-not to play.
2. Snowball-take your loans and pay them off from smallest to largest, taking each payment and rolling it into the next one.
3. Get a simple rate instead of a compound rate for your loan.
4. “Live like you don’t want to now so that you can live like you want to later.” -Dave Ramsey
5. Consider it an act of obedience; quit looking at things from a worldly perspective. God has great things in store for you–it just may not be in THIS world. He has us where He wants us NOW, but He also wants us to be able to move when He says “Move!” Until then, we will be diligent in these matters and always ready. Right???
Start today in the Great Buy/Out Strategy.