3,778. Debts Incurred on a Presumptive Rosh Hashana

Hilchos Shemittah v’Yoveil 9:5

Let’s say that someone slaughtered a cow and divided it with others, assuming that that day would be declared Rosh Hashana (of the eighth year, the start of a new cycle for debts). However, a day was added to Elul, making that day the last day of shemittah. In such a case, the money is lost (i.e., the one who laid it out can no longer collect it), since shemittah ended with the debt outstanding.

Hilchos Shemittah v’Yoveil 9:6

Shemittah cancels even loans that have documents creating a lien on the borrower’s property. However, if the borrower assigned a field as payment for the loan, the debt isn’t canceled. Shemittah also cancels the need to take an oath. Deuteronomy 15:2 says “He may not demand” – he may not demand payment and he may not demand an oath.