4
votes
1answer
111 views

Borrowing money without clear plan of how to pay it back

Are you allowed to borrow money from a Jew without having a reasonable idea how you will be able to repay the loan?
3
votes
1answer
73 views

Is there a prohibition of paying interest misafek (doubt)?

Reuvain borrowed money from Shimon, and both are unsure if it was ever payed back. Now, of course Shimon can't claim any money from Reuvain, but if Reuvain wants to pay him back out of doubt, should ...
8
votes
1answer
100 views

Am I allowed to get miles or points for a loan?

Suppose me and my good friend Shimon are in a store shopping. Shimon wants to borrow $100 from me for his purchase. I graciously agree, but instead of giving Shimon cash, I swipe my credit card for ...
4
votes
1answer
87 views

If you borrowed a tiny amount from someone but are no longer able to pay back, are you still obligated to pay back?

Say a person borrows 50 cents from a fellow Jew while out of town. The borrower cut his trip short and left without being able to pay back. Can one rely that the lender would give up hope of getting ...
8
votes
1answer
144 views

What happens if you borrowed money and the currency became worthless?

In Israel in the late 70s early 80s the currency (Lira) became worthless. Suppose one day the American dollar would become worthless, and one owes another $1,000,000- would the borrower just pay back ...
3
votes
1answer
102 views

Receiving money for a day's work, considering it to cover a debt?

I will pose this general question by presenting the following scenario: Reuvan works for Shimon. One time, at the end of the day, when Shimon came to pay Reuvan for that day's work (which was $100.), ...
16
votes
2answers
219 views

Does Jewish Law Recognize Bankruptcy?

If someone borrowed money and then declared bankruptcy, does he still have a halachic obligation to pay it back? If the lender was a corporation (bank, etc.). If the lender was a friend. Do we say ...
3
votes
2answers
93 views

Am I allowed to use borrowed money for something else?

Reuven goes to his good friend Shimon and tells him that he needs $10,000 for X. Shimon naturally agrees. Reuven then realizes that he needs the money for Y instead. Is Reuven allowed to use the ...
16
votes
3answers
315 views

Can I lend out a Library Book?

I just borrowed a wonderful book from the local library (let's assume Jewish library - but does it matter?). My friend sees the book and wants to read it. My library lets me keep the book for a week, ...
13
votes
3answers
220 views

Do our sources address “strategic loan defaults”?

In the most recent episode of NPR's Planet Money Podcast, they interviewed a real estate lawyer in Arizona who talked about the large numbers of her clients who have been asking for advice about doing ...