"Every creditor that lends anything to his neighbor shall release it"Deuteronomy 15:2.

We are forbidden from demanding payment of a debt once the Shemitah (Sabbatical) Year has passed. Rather, all debts must be cancelled.

This biblical prohibition applies only in the Land of Israel, and only when the Jubilee laws regulating agricultural are in effect (see The Jubilee Year). The Sages, however, extended this prohibition to apply to all locations and all times.