In the previous Halachot we have discussed the primary laws of the cancelation of debts at the conclusion of Shemitta in that any debt one is owed by another which originated in the form of a loan and the Shemitta year has passed over such a debt, this debt is canceled immediately at the conclusion of the Shemitta year and the lender may no longer claim repayment of this debt from the buyer. We have also explained the enactment of the “Prozbul” and that by filling out a Prozbul contract, one’s debts will not be canceled at the conclusion of the Shemitta year.
The Prozbul only takes effect regarding loans performed prior to the filling out the Prozbul, for only these debts were transferred to the Bet Din and are thus not canceled at the conclusion of Shevi’it, as we have explained. However, any money loaned after the filling out of the Prozbul requires an additional Prozbul for it not to be canceled by Shevi’it. It is for this reason that it is customary not to fill out the Prozbul contract until the month of Elul of the Shemitta year so that any loans performed throughout the year will be included in the Prozbul and will not be canceled by Shevi’it. Nevertheless, any new loans performed following the filling out of the Prozbul require a new Prozbul in order for them not to be canceled only if one has specifically established the repayment date for before Rosh Hashanah of this year. If, however, one has loaned more money after having filled out a Prozbul and has not set a repayment date for this debt at all or has set the date for after Rosh Hashanah, no new Prozbul is necessary as Shevi’it does not cancel such loans, as we have explained in a previous Halacha.
Many pious men and women have the custom that at the end of the Shemitta year after they have already filled out a Prozbul, they loan a small amount of money to a friend in order to perform the Mitzvah of cancelling debts at the conclusion of Shevi’it upon this money. In order to merit this Mitzvah, when one loans the money to a friend, one must specifically tell him/her that the money is to be repaid before Rosh Hashanah. The borrower should hold off on repaying the debt until after Rosh Hashanah though. Then, when the borrower comes to repay the debt after the Shemitta year has passed (the day after Rosh Hashanah), the lender should tell the borrower, “I release the debt,” for the Torah states, “This is the matter of the release,” which means that one must release the debt through speech. Then, if the borrower nevertheless wishes to repay the loan, he should reply, “I would nevertheless like for you to accept this money as a gift” and the lender may then accept it if he wishes. Our Sages said that one who does not repay debts that were canceled by Shevi’it is not looked favorably upon by the Sages (since this constitutes a measure of ingratitude by not repaying a debt one obligated himself to pay).
Click here to download the Prozbul Contract in English.
(Graphic design credits to Adriel Kohananoo, Great Neck, New York.)
