Question
Kindly advise on the following: In 2007 I loaned my cousin R80000.00 as he was in financial difficulties. He paid back R40000 in 2008. However, regarding the remaining amount of R40000, he has been very quiet. He has made no attempt to repay back this amount and its almost 10 years going now. I have been very patient never asking him for the amount hoping that he is able to repay. More so, this is a family member and I don't want to cause a break down in relations if I upfront and demand the payment. I feel this will cause family ties to be cut. I would like to know what advice can you offer about this situation and what are my rights with regards to the above? I feel so grieved. What is due to me is now not even worth the amount I loaned due to the fact our currency is so devalued over the last 10 years. Kindly advise those who take loans and do not repay.
Answer
Rasulullah (Sallallahu alayhi wasallam) said that the martyr is forgiven all his sins except debt. Refraining from paying debts despite having the means, is most despicable and dishonest. Generally, people have money for luxuries, but they have no money to pay their debts. Such people are inherently corrupt.
A creditor who waits patiently for his due, receives the reward of giving the full outstanding amount as Sadqah for each day he waits. Notwithstanding the virtues of granting extension of time to pay, it is your right to ask your cousin to pay.
Furthermore, due to money having lost its value considerably, your cousin in reality now owes you the amount of gold which R40,000 could have purchased in 2007.
- Source
- themajlis.co.za
- Published in
- The Majlis Vol 24 No 05
- PDF page
- 5
Appears under NOT PAYING DEBT.