Asking for repayment of a loan before the due date
Q: One of my friends required a loan of R500 000. I loaned him this amount, and our mutual agreement was that he would repay me after one year.
Unfortunately, only six months have passed and I have fallen into some financial difficulty. Can I claim my money back from my friend, even though the agreed term of one year has not yet terminated?
A: The Shar’ee ruling in regard to loans is that even though both parties agreed upon a specific date, the creditor has the right to demand the loaned amount at any time he wishes. Hence, you have the right to claim the money now, even though you both mutually agreed that he will pay you after one year.
And Allah Ta'ala (الله تعالى) knows best.
قال (كل دين حال إذا أجله صاحبه صار مؤجلا) لما ذكرنا (إلا القرض) فإن تأجيله لا يصح (الهداية 3/60)
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