Writing a Prozbul

The Torah establishes in the Book of Debarim (15:2) the law of “Shemitat Kesafim,” whereby all debts are cancelled at the conclusion of the Shemita year. One who lent money before Shemita may not collect the debt after Shemita.

In order that potential lenders will not be discouraged from granting loans, the great sage Hillel enacted the provision of “Prozbul,” a document signed by the lender that transfers all outstanding loans to the Bet Din (Rabbinical Court). The law of “Shemitat Kesafim” does not apply to public institutions, and therefore debts owed to the court are not affected by the Shemita year.

As the current Shemita year of 5768 comes to a close, anyone who has lent money must execute a Prozbul document before Rosh Hashanah so that he may collect his debts thereafter.

Make sure to complete the Prozbul prior to Erev Rosh Hashana
(before Sept. 29, 2008)





After printing the Prozbul, it is most preferable to bring it to your Rabbi for implementation.

Or, follow the steps below:

Step 1- Appear in front of 2 witnesses, who should hear your recite the declaration contained in the document

Step 2- The Witnesses should write your name in the document, and then both witnesses must sign at the bottom

Step 3- Keep the signed document in a safe place.