In the previous Halacha we have explained the basis of the law of cancelation debts at the conclusion of the Shemitta year (this year, 5782, is the Shemitta year). Thus, if one loans a sum of money to another and has not collected this debt before the conclusion of the Shemitta year, the lender may no longer request repayment of this loan from the borrower. If the lender nonetheless claims this loan from the borrower following the Shemitta year, he has transgressed what the Torah states, “He shall not exact it from his friend or from his brother” and additionally, the borrower need not repay the loan.
A Long-Term Loan
The Gemara (Makkot 3b) explains that if one loans another money for ten years, for instance, if one loans a certain amount of money on the 23rd of Tevet 5782 (the Shemitta year) and sets the repayment date for the 23rd of Tevet, 5792 (ten years from the day of the loan), Shevi’it does not cancel such a loan. Although Shevi’it has “passed over” this debt, the debt is nevertheless not canceled, and the borrower must repay the entire debt to the lender.
The reason for this is because the Torah states, “Every creditor shall release that which he has lent to his friend-he shall not exact it of his friend” meaning that only loans that the lender may claim from his friend during the Shemitta year are cancelled by Shevi’it; however, a loan whose time for repayment has not yet arrived and thus cannot yet be claimed by the lender are not cancelled by Shevi’it. Thus, immediately when the repayment date arrives for such a loan, the borrower must repay it to the lender.
Short-Term Loans
The same law applies if one loans money to another for less than ten years, such as in the above scenario if the lender sets the repayment date for the 12th of Tishrei, 5783, in that the debt will not be cancelled at the conclusion of Shevi’it since the repayment date has not fallen out during the Shemitta year and any such loan is not cancelled by Shevi’it.
Non-Specified Loans
We have a great rule that if one loans money to another without specifying to the borrower the specific date of when he wishes to be repaid, we automatically say that the date of repayment is thirty days after the date of the loan. For instance, if one loans money to a friend on the 3rd of Tevet and the lender and borrower did not agree on a repayment date at the time of the loan, the lender cannot claim repayment of this debt until thirty days have passed since the date of the loan, i.e. on the 4th of Shevat. Based on this, Maran Rabbeinu Ovadia Yosef zt”l writes in the name of the Poskim that the same applies to the cancelation of debts by Shevi’it in that if one loans money to another within less than thirty days from the conclusion of the Shemitta year, for instance, if one loans money to a friend today, the 9th of Elul 5782 without setting a specific repayment date, since we know that the lender cannot claim repayment of this debt within the Shemitta year since thirty days since the time of the loan have not yet elapsed, such a debt will not be cancelled by Shevi’it, for the lender may only claim repayment of this debt after the Shemitta year has passed and this bears the same law as one who loans money for ten years in which case the debt is not cancelled by Shevi’it because it cannot be claimed during the Shemitta year. Thus, the borrower will be obligated to repay the loan following the conclusion of the Shemitta year when the date for repayment arrives which is thirty days after the original loan.
In the following Halacha we shall discuss the obligation of women regarding the laws of cancelation of debts by Shevi’it and in the Halacha following the next, we shall discuss the laws of the Prozbul which is meant to prevent debts from being cancelled by Shevi’it.
Click here to download the Prozbul Contract in English.
