Paying off debts by loaning
I owe money to multiple banks at the same time and I am not able to pay them. It will be easier if I, in order to get out of this debt, borrow money from another bank for the one last time, pay my debts to the other banks, and then focus only on paying my last debt. Would it be permissible for me to take out a loan for this purpose?

Do not resort once again to the forbidden (haraam) in order to pay your debts. A mistake cannot be corrected by another mistake. Otherwise, your debt can turn into a larger downward spiral.

What you should urgently do is to either borrow money from a friend on the basis of a benevolent loan (qard hasan), or – if you own something – sell some of your belongings for cash. If neither of these is possible, you should pay the existing debt without taking out a new loan with interest, by decreasing your expenses. Otherwise, the method you mention also involves interest and is not permissible.

God commands in Surah Al-Inshirah that:

“Indeed with hardship, there is also ease.
Indeed with hardship there is also one more ease.
So when you have the time, toil.
Give the preference to your Lord.”
(Al-Inshirah/The Solace, 94:5-8)

According to these verses, it is ordered that we work at all times, head for a new task once we finish one, and depend only on God. God tells us the good news that he is going to grant us easiness if we obey these orders. For this reason never resort to the forbidden. Be patient and work hard. Apart from that, pray the God that he turns this hard situation into an easy one. Do not forget that help does not come early. God tries you, puts you in hardships, shakes you… He sees that you are being patient and not resorting to the forbidden, and then he sends his help. The following verse expresses this clearly:

“Or do you suppose that you will enter the Gardens while such [test] has not yet come to you as came to those who passed on before you? They were touched by misery and adversity and were shaken until [even their] messenger and those who believed with him said, “When is the help of Allah?” Unquestionably, the help of Allah is near.” (Al-Baqarah/The Cow, 2:214)

As you can see, God does not send his help before his test is over. God the Almighty commands that:

“Do the people suppose that they will be left alone to say, “We believe,” without being put to test? But We have certainly tested those before them, and Allah will surely know those who are truthful, and He will surely know the liars.” (Al-Ankaboot/The Spider, 29:2-3)

Facebook'ta PaylaşTwitter'da Paylaş
Date: Oct 22, 2015
Other Fatwas In This Category:
#   Title Date Reads 
1 Trade and Usuary 2009.08.25 839
2 Is the interest from National Savings Certificates Haraam? 2012.04.24 12,213
3 Can we demand the loss caused by delayed payments from the debtors? 2013.04.27 522
4 Should we collect jizyah from our non-muslim neighbours? 2011.09.16 563
5 Is it permitted to get the 0% interest credits? 2012.06.16 849
6 Working in a company that borrows loan on interest 2013.05.19 800
7 USURY IN QURAN AND SUNNAH 2010.07.11 4,257
8 Can we give out the interest profit to the poor? 2012.12.17 1,307
9 Bonds 2013.05.31 1,079
10 USURY HIDDEN BEHIND IMAGE OF SALES 2010.07.11 727
11 Borrowing interest-based loans 2012.06.18 708
12 Buying and selling of public property 2013.07.23 970
13 PROHIBITION OF USURY 2010.07.11 1,097
14 Can I buy a house by using mortgage from a bank? 2013.04.10 1,067
15 Ruling on Leasing 2014.01.14 910
16 THE RELATIONSHIP BETWEEN USURY (Faiz) AND CHARITY (Zaqaat)) 2010.07.11 646
17 Will it be a sin if we give rushwat for taking our own property which is wrongfully seized? 2013.01.27 635
18 Missed Credit Card Payments 2014.01.20 710
19 THE WAR AGAINST ALLAH AND HIS MESSENGER 2010.07.11 845
20 Is it lawful to buy gold in installments by using credit card? 2012.07.21 1,839
21 Lending and Receiving in Different Currencies 2014.02.12 755
22 THE ATTITUDE OF MONEYLENDERS 2010.07.11 583
23 Is it lawful to buy and sell gold over internet? 2013.02.11 584
24 Trading unlawful things 2014.03.05 907
25 Islamic Economics 2010.07.11 669
26 Is it lawful to buy cash by credit card? 2013.02.11 720
27 Buying Foreign Exchange by Credit Card 2014.03.08 798
28 BEY BI’-L-ISTIĞLÂL 2010.07.13 618
29 What is the difference between renting and interest? 2013.02.26 2,015
30 Death of a creditor 2014.04.25 808
31 Relation Between Alms and Market Economy 2011.04.28 619
32 Is it permitted to rent gold? 2013.02.26 618
33 Early Payment Discount and Interest 2014.05.27 1,085
34 What is the sentence for directing our customers to bank credits(loans)? 2012.01.05 420
35 How to borrow gold from jewelers? 2013.02.28 777
36 Partnership on a fixed profit 2014.11.06 1,042
37 Amount Of Interest 2011.04.14 807
38 What is the ruling on giving a tender to a predetermined company? 2013.03.11 498
39 Paying off debts by loaning 2015.10.22 952
40 Is it lawful -halal- to use the bonus points paid by banks? 2012.06.11 1,849
41 Is it permitted to rent our real estate property to banks? 2013.03.31 1,274
42 Using Counterfeit Goods and Pirated Content 2017.04.04 281
43 Is e-commerce legitimate? 2013.01.19 990
44 Stock market 2013.04.06 1,863
45 Is getting government scholarship lawful or not? 2017.04.04 291
46 What is the ruling on life insurance? 2011.08.06 1,127
47 Were the older communities ordered to give tax (zakat) like we are? 2013.04.12 504