Laz...first of all, you are a good egg. I would have done the same. Before doing something like that again, you probably should consult with another person who has no skin in the game. Trust is a difficult thing. I still have solid trust with most people these days but as The great Ronald Reagan always said: Trust but verify.
I’m gonna stick with Proverbs on this one, from now on:
Proverbs 11:15
Whoever puts up security for a stranger will surely suffer harm, but he who hates striking hands in pledge is secure.
That doesn't always work.
For myself I verify BEFORE I trust.