Cancellation of Debts in a Long-Term Loan
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Question
I lent money to a relative about seven years ago, and according to the agreement, he is supposed to repay me in the coming days. I have now realized that I did not perform a Prozbul in the previous Shemitah. Am I allowed to collect the debt from him?
Answer
Hello,
A debt whose repayment time is after the Shemitah is not canceled during Shemitah. Therefore, in the previous Shemitah, since according to your agreement you could not yet collect the debt, it was not canceled.
However, if he does not pay the debt by the upcoming Rosh Hashanah, since the repayment time has already arrived, the debt will be canceled unless you perform a Prozbul this year.
Additionally, it is advisable for everyone to perform a Prozbul even if they do not currently remember debts owed to them.
Wishing you much success.
A debt whose repayment time is after the Shemitah is not canceled during Shemitah. Therefore, in the previous Shemitah, since according to your agreement you could not yet collect the debt, it was not canceled.
However, if he does not pay the debt by the upcoming Rosh Hashanah, since the repayment time has already arrived, the debt will be canceled unless you perform a Prozbul this year.
Additionally, it is advisable for everyone to perform a Prozbul even if they do not currently remember debts owed to them.
Wishing you much success.
Source
Makkot 3:, Rambam Shemitah and Yovel 9:9.
Comments
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