In the Name of Allah, the Most Gracious, the Most Merciful
‘Peace and Blessings of Allah be upon our beloved Prophet Muhammad (s.a.s), his blessed descendents and noble companions.’
Aameen.
SUNNATS PERTAINING TO DEBTS
S.1. Nabi SAW was once overheard making the following Du‘a:
“I seek refuge in Allah, from kufr and debts.”
A Sahabi (R.A.) hearing this enquired: “O Rasulullah! Are you equating debts to kufr? Our beloved Nabi SAW replied, “Yes.” (Nisai - S.K. - Vol. 2: Pg. 163)
S.2. Nabi SAW has said, “Debts (owing to somebody) is Allah’s flag in this world. Whomsoever Allah wishes to disgrace, he places this ‘flag’ of debt on them.”
(At-Targheeb - S.K. - Vol. 2: Pg. 148)
S.3. Nabi SAW has said that whosoever borrows with the intention of usurping another’s wealth, will meet Allah (on the day of resurrection) as a thief.
(At-Targhib - S.K. - Vol. 2 : Pg. 147)
S.4. Our Prophet SAW took loans at the time of need.
S.5. At the time of repaying the debt to make du‘a as follows:
Baarakal-lahu Fii Ahlika Wa Maalika.
“May Allah grant you blessing in your family and wealth.” (Ibn Majah - S.K. - Vol. 2: Pg. 144)
S.6. To repay the loan with a little extra, provided at the time of taking the loan there was no such condition. (Bukhari - S.K. - Vol. 2: Pg. 145)
S.7. Nabi SAW has said that the reward of charity is multiplied ten times and the reward of lending is multiplied eighteen times. (Tabrani- S.K. -Vol. 2: Pg. 145-46)
S.8. Prophet SAW has said that Allah helps the person who borrows with the intention of repaying, i.e. Allah SWT makes the means of repaying but whosoever borrows with the intention of not repaying then Allah destroys his wealth. (S.K.-Vol. 2:Pg. 146-147)
S.9. Nabi SAW has said that a wealthy person’s delay in settling his loan is ‘Zulm’-oppression.
(Bukhari - S.K. - Vol. 2: Pg. 146-147)
S.10. To borrow and to take loans is disliked and therefore, Nabi SAW is reported to have said that when Allah wishes to disgrace a person then he places this (debt) around his neck. (At-Targhib-S.K. - Vol. 2 : Pg. 148)
S.11. It is a Sunnah to intercede for the reduction or the complete wiping off of another’s debt. (S.K. - Vol. 2 : Pg. 150)
S.12. The following are some of the virtues recorded in the Ahadith for giving time to one in difficulty to pay off his debt:
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