Instructions: I will post 2 Discussion threads I need 1 reply for each thread.


Instructions: I will post 2 Discussion threads I need 1 reply for each thread.
Acceptable sources include the course textbook, scholarly journal articles, and the Bible.
In addition to the thread, you are required to reply to 2 classmates’ threads. Each reply must be at
least 100 words.
DB#1
Kendal Bottenfield
MondayMay 30 at 10:58pm
Manage Discussion Entry
Borrowing money comes with a certain sense of responsibility that must be held in a serious manner. If improperly managed one may lose what they have acquired and more. A journal article that explores the medical factors within the negative consequences of borrowing money states that “in addition to known associations with psychological health, financial debt is associated with worse self-reported physical health and blood pressure” (Sweet et al., 2013, p. 9). One may not just lose a physical sense of worth within what they held but may also suffer through mental and bodily repercussions while dealing with borrowed money. If one doesn’t properly utilize the money given, then they could face major pressure from the lender. Since the borrower is still liable to pay back the money that has been given to them, they must settle the loss in some fashion. In major cases actions such as repossession may occur in order to pay back the debt. With all of this in mind, borrowing money entails a list of major risks but may also yield great profit if given the proper consideration needed to experience growth.
Co-signing a loan involves two parties who are participants within the agreement. Co-signing establishes responsibility within the idea that if the original borrower does not pay then the other individual will in their stead. With this comes risk depending on the will of and trust level between the two parties. The Bible states, “One who has no sense shakes hands in pledge and puts up security for a neighbor” (New International Version, 1973/2011, Proverbs 17:18). This presents that co-signing a loan is an inhibitor that is foolish to enact. It enables the original borrower to not take full responsibility and designates a safety net that allows them to avoid consequence for themselves. As a whole, this act may do more harm than good towards both parties involved.
Anyone who borrows money should remain aware of the factors involved within the act. They are obligated to pay the loan on time and should consider the concept of interest while properly securing the loan. The Bible states, “The rich rule over the poor, and the borrower is slave to the lender” (New International Version, 1973/2011, Proverbs 22:7). This verse demonstrates the burden that paying off a loan entails and the relationship in which is set forth. Borrowing money is a deep contribution to another as one must act accordingly. Overall, one is held accountable for the money they have been given and must realize the commitment at which they have agreed upon.
References
New International Version. (2011). BibleGateway.
https://www.biblegateway.com/passage/?search=proverbs+17-22&version=NIV
(Original work published 1973)
Sweet, E., Nandi, A., Adam, E. K., & McDade, T. W. (2013). The high price of debt: household
financial debt and its impact on mental and physical health. Social science & medicine (1982), 91, 94–100. https://doi.org/10.1016/j.socscimed.2013.05.009
DB#2 Brittany Curtis
When it comes to the natural consequences of borrowing money, the scriptures give a great viewpoint on what borrowing money is. For instance, the following scripture states, “The rich rule over the poor, and the borrower is slave to the lender (Proverbs 22:7 NIV, 2011).” Therefore, no matter what you borrow from someone, you will owe them how you borrowed from them. Meaning a legal contract is withheld, and you are liable for all debts to be repaid. If you were to go and purchase a car to transport to and from work, you are reliable to make the payments monthly and on time. If you fail to do so, you will lose your rights to the car and face even more issues in the future.
A co-signer for a loan is at the same standards as a person getting a loan independently. They are a person who adds their name to the borrower’s loan application and who agrees to be held legally responsible for the total loan amount. If the borrower fails to make the loan payments, they are held accountable for the total due amount (Jayakumar & Beling, 2021). Proverbs gives an excellent example of co-signing wisdom by the following verse “Whoever puts up security for a stranger will surely suffer, but whoever refuses to shake hands in pledge is safe” (Proverbs 11:15 NIV (Proverbs 11:15 NIV, 2011). It is not wrong for us to co-sign for people, but we must think about our future and our standpoint if they fall through. They could be a family member or a stranger, but we must always keep in mind that co-signing can hurt your self and it can even hurt the original borrower.
It is a simple standard for the obligations of anyone who borrows money. One who borrows money is responsible for said money repayment. The borrower agreed to the loan terms, and therefore they are accountable for all of the loan requirements. Even if that means they have to pay back the interest rates. Any contract created should always be horned and held to the highest standard and never terminated before final payment. If they are, you are responsible for all actions that must take the course as punishment.
References
Jayakumar, A., & Beling, J. (2021, July 6). Co-Signing a Loan: Risks and Benefits. NerdWallet. https://www.nerdwallet.com/article/loans/personal-loans/3-bad-reasons-to-co-sign-a-loan
This article was used to determine what a co-signer is and what setbacks one would face if one chooses to be one.
Proverbs 11:15 NIV. (2011). Bible Gateway. Retrieved June 1, 2022, from https://www.biblegateway.com/passage/?search=Proverbs+11%3A15&version=NIV
This bible verse was used to describe why one should not be a co-signer and what they should be looking out for if they do decide to be one.
Proverbs 22:7 NIV. (2011). Bible Gateway. Retrieved June 1, 2022, from https://www.biblegateway.com/passage/?search=Proverbs+22%3A7&version=NIV
This bible verse was used to determine what the consequences of borrowing money are.


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