Why settle your debts and document them for your family
AmanaFi team · Updated · 1 min read
Tradition stresses the importance of settling debts: a hadith reports that the believer's soul stays attached to their debt until it is settled. Documenting your debts and receivables also protects your family.
Draw up the list
Keep a simple table of what you owe and what you are owed.
- Person's name, amount, date and purpose.
- Due date or agreed schedule.
- Repayments already made.
- Any documents or witnesses.
Tell a trusted relative
An informed relative can honour your commitments in case of the unexpected, and know what you are owed. Many recommend recording this in writing, in a findable place, with a will if your situation calls for one.
A regular review
Reread the list once a month: gently chase receivables, honour approaching due dates and update amounts. Regular tracking prevents small forgotten sums from becoming disputes.
Frequently asked
What about debts that cannot be repaid?
Talk to the creditor, propose a realistic schedule and seek advice. Some situations may justify help from zakat for debtors meeting its conditions: consult a qualified person.
Put it into practice with AmanaFi
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