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Loans & Debts

Loans & Debts (142)

Prize bonds

Submitted by user2 on Fri, 2017-09-22 06:28

Q: Please tell me about prize bonds if its halal or haram in Islam.

Category: 
Business and Dealings
Loans & Debts

Taking one's salary in advance and paying interest

Submitted by user2 on Thu, 2017-09-21 07:16

Q: Is it permissible to collect some money as a salary in advance from the bank that I operate with so that at the end of the month they will deduct the amount that I collected from them from my salary and some extra money as charge fee.

Category: 
Business and Dealings
Loans & Debts
Loans

Loaning money on interest

Submitted by user2 on Wed, 2017-09-20 06:25

Q: Could you please explain to me what is interest, riba and usury. If one has the talent to do a halal business (by Allah) and no money, and other has money but he can't do business, the one who is giving the money to the first person for the business and asking him to give a profit of 50% and at last he should return his money. Does this come under interest/riba/usuary. If yes then how should the business situation be dealt with. What does one do if one did that, and falled in a loss.

Category: 
Business and Dealings
Loans & Debts
Loans

Taking a loan

Submitted by user2 on Sat, 2017-09-16 07:25

Q: Is taking a loan a sin and if it is a sin then what is the punishment if the loan is taken?

Category: 
Business and Dealings
Loans & Debts
Loans

Settling one's debts

Submitted by user2 on Mon, 2017-08-21 07:09

Q: I thought that if you commit shirk, you will not enter Jannah but I also read a hadith that if you have a debt then you will not enter jannah, what happens on day of judgement to someone who never paid his debt?

Category: 
Business and Dealings
Loans & Debts
Unsettled debts

Taking a loan

Submitted by user2 on Thu, 2017-08-17 06:53

Q: I am from India. Me, my husband and kids stay with my in-laws in their house. Can we take a loan for buying our own house.

Category: 
Business and Dealings
Loans & Debts
Loans

Taking interest bearing loans

Submitted by user2 on Wed, 2017-08-16 08:45

Q: Can a Muslim take out a usuruous loan to support their family if they are living in conditions that are dangerous such as, if their home is being burglarized and living in a dangerous neighborhood filled with gangs and drugs? Is this a condition of zaroorah (necessity) or haajah (need)? Can one commit a major sin, dealing with Riba (Usury/Interest), in order to get his family away from these conditions. Please advise. 

Category: 
Business and Dealings
Loans & Debts
Loans

Eating from interest money

Submitted by user2 on Thu, 2017-08-10 06:52

Q: I'm confused about what is meant when "food bought from riba is haraam". I currently have some money from a loan I took out that has interest on it (I was under a lot of pressure from my family and got yelled at for trying to avoid the loan). I was wondering, does all the food bought from this money automatically become haraam to consume because the loan is haraam? If so, I plan on just leaving the unnecessary leftover money in the bank until I have halal earnings. Because if I empty out my bank account trying to return this money, lol can't even imagine what my family would do to me. But yeah, I feel guilty about this loan but I was practically forced into this when I started getting ridiculed for trying to stay halal. So my other question is, wouldn't the sin fall on the person who pressured me into paying riba rather than me?

Category: 
Business and Dealings
Loans & Debts
Loans

Procrastinating in settling one's debts

Submitted by user2 on Sat, 2017-08-05 07:26

Q: If you are in debt, does it affect your taubah or forgiveness? I mean can a debt stop you getting your sins forgiven? would Allah forgive your sins if your in debt?

Category: 
Business and Dealings
Loans & Debts
Unsettled debts

Can a debt cancel out good deeds?

Submitted by user2 on Sat, 2017-08-05 07:13

Q: Can your debt cancel out your good deeds?

Category: 
Business and Dealings
Loans & Debts
Unsettled debts

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