10/23/2005

Advice from Nashville's leading Financial Aid Advisor Dave Ramsey

 
Dave Says
By Dave Ramsey
Author of:
Financial Peace and
The Total Money Makeover

"Church wants congregants to sign on debt!"

Dear Dave,

My wife and I have been going to a church that’s about four years old, and last year we moved into a new building and we’re renting the space. The owner recently made the property available to the congregation for purchase. About two weeks ago our pastor made the announcement that a bank loan officer would be coming to church, and they’ve asked the congregation to sign the application for the loan as guarantors. What’s your opinion?

Jeff in Nashville, TN

Dear Jeff,

There is no way under the sun I would sign off on this! You’re talking about going into a partnership with 300 other people, and this is the kind of situation where you could really get your ears nailed to the wall. The business leadership at this church should have more sense than to bring this before the congregation.

Nowhere in the Bible does it say that the congregation should get together and sign a note to buy a church building. This is a really dangerous idea, because it’s going about the Lord’s work in the world’s way. And that’s ALWAYS a bad plan.

- Dave

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