Updated August 2022
Jewish law obligates every Jewish person to cancel, after the culmination of the Shemita year, various types of debt due to him or her. This does not apply to a debt owed to beis din.
If a creditor executes a Pruzbul, he or she is not obligated to cancel debts. A Pruzbul may be executed at any time before the end of the Shemita year. However, since a Pruzbul covers only debts already existing at the time of its execution, it is usually implemented at the very end of the Shemita year, shortly before Rosh Hashana of the post-Shemita year.
When a creditor arranges for the execution of the Pruzbul form below before three men acting as a Beis Din, debts […]