Do not be one who shakes hands in pledge
    or puts up security for debts;
 if you lack the means to pay,
    your very bed will be snatched from under you. -
 Proverbs 22:26-27

What does the Bible say about becoming a guarantor - it is the one who will be responsible for the debt of one person if he fails to pay.

People who strike their hands for another person's responsibility, according to the Bible, lack good judgement. Why do we need to study first the transaction before we commit to being a guarantor? there will be the time that someone close to you will ask you to be their guarantor and because of your friendship he will urge you to do it, but you have to think twice before you continue for its not a small matter it will be your reputation and wealth which are at stake.

Do not be a guarantor if you are not 100% sure with the transactions and the capacity of the one whom you will guarantee, don't just do it out of friendship rather be wise and know the in and out of it so that it will not ruin you.

And to those who seek for a guarantor, be responsible do not be the cause of someone's trouble and hardship. Be faithful and trustworthy so that both of you are in good hands.