The laws of guarantee are numerous and available in the books of jurisprudence.

The laws of guarantee are numerous and available in the books of jurisprudence. We shall only discuss the topics that are relevant for our purpose. Loan for a fixed period and loan without time limit Loans are of two types. One that is not bound by a time limit or when the date of payment has already expired. The other type of loan has a fixed time for repayment. The creditor cannot demand the loaned property before the due date. If the loanee dies all debts owed by him become due immediately.

For example if a person has borrowed something for a year, but dies before the end of the year, his heirs must pay his loan immediately. It is no excuse that the time of payment has not come. But if the creditor dies his heirs do not have the right of demanding the loan before time. It is Compulsory to repay a Debt If the time of payment is due or if the creditor demands back his loan the debtor is obliged to repay immediately.

The loan must be repaid even if the debtor has to sell his excess belongings or even if he has to sell his things at less than the market value. However if he is compelled to sell at a throwaway price then it is not obligatory for the debtor to sell those things. If the debtor does not have anything like a carpet, clothes, household items, shop etc. that he can sell and repay the loan, then he must take up a job that is suitable for his position.

In any case he is under an obligation to clear his due. Carelessness and sloth with regard to the repayment of loan are absolutely Harām; and a greater sin. If the debtor possesses only those things that are necessary for his life; like a modest house, carpets and clothes etc, then it is not necessary for him to sell them to repay his loan. The creditor cannot compel the debtor to sell off these things.

However, if the debtor wishes to sell them of his own accord, he can do so, and the creditor is allowed to accept the loan. But it is desirable that the creditor respites the debtor till the time Allah (S.w.T.) makes him capable of repaying his debts. It is related by Uthman bin Ziyad: “I informed Imam as-Sadiq (a.s.) that a person owed money to me and wished to dispose off his residence to repay me.

Upon hearing this Imam (a.s.) said thrice: “I seek Allah’s refuge for you.” (That you cause this poor man to sacrifice his dwelling place to pay). Many similar traditions have been recorded in books of hadith.