Halocho #155 - Repaying debts after Shmita

As we learnt yesterday, this year (5768) is a Shmita year. When Shmita ends on Rosh Hashana, so will the ability to request payment of certain loans. During Shmita one may collect ones debts. After Shmita ends one can no longer request the repayment of any loan that came due before the Shmita year ended. If the debtor repays the debt after Shmita, the creditor must say to him "I have forfeited the debt and you no longer owe me anything". If the debtor responds that he nevertheless wants to repay the creditor, then the creditor may accept the payment. If the debtor explicitly states that he wants to repay the loan, then the creditor may not accept the payment. A creditor may ask people to intercede on his behalf to ensure the debtor returns the loan as a gift. This applies to loans of money as well as items. Source: Kitzur Shulchan Aruch 180:13, 14 More about this tomorrow, - Danny Monday, 24 Av 5768

Please daven for a little girl - TAMAR bat NAAMA - תמר בת נעמה

Halocho #112 - 0% interest on loans

The Torah prohibits charging interest and paying interest to fellow Jews. The Torah allows charging interest and paying interest to non-Jews.

• A person who lends money to a Jew and charges interest, has transgressed six Torah commandments and - if he doesn't repent - will not awaken at Techiyat Hameitim - when the dead will be revived at the End of Days.
• The person who borrows the money transgresses three Torah commandments.
• The scribe, witnesses, co-signer and middle-man all transgress one Torah commandment.

In most cases, a person who received interest from a loan needs to return it. Even if the borrower - on his own accord - returns more than he borrowed or adds a gift, it is considered interest on the loan and the lender is not allowed to accept it. Even non-monetary gain from a debtor is forbidden. For example:

• The creditor may not ask the debtor to inform him when somebody has arrived, unless he used to do this before giving him the loan.
• The debtor may not go out of his way to greet the creditor, unless he always used to do so.
• The debtor may not patronize the creditor's business, unless he used to do so before getting the loan.

When doing a business deal with a fellow Jew, one needs to use a Heter Iska - the subject of a future posting.

Source: Kitzur Shulchan Aruch 65:1, 2, 4, 5, 9, 10

I discovered the following two useful sites:

• Online Kitzur Shulchan Aruch with vowels:
• Online Kitzur with English translation - a work in progress