Rav Yishai Tokayer-Shemitah-Pruzbul-03August2014

Part of the observance of Shemitah includes the forgiving of all loans. Any debts that are unpaid at the conclusion of the last day of the Shemitah year are cancelled. Even if a borrower wishes to repay his debt, the lender may not accept it unless he reminds the borrower that the debt has been cancelled, and the borrower still insists on giving him the money “as a gift.” (Indeed, it is considered praiseworthy for a borrower to do this.)

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