May Allah pay the debts of all the indebted Muslims and protect us all against debt! Debt is a very tough trial. The Holy Prophet has described it joining it with Kufr. Hazrat Abu Saeed Khudri reports that he heard the Holy Prophet praying thus:

"O Allah, I seek refuge with You from Kufr and debt."

A man said, "O Prophet of Allah, you call debt equal to Kufr." He said, "Yes" (Nisai, Haakim, At-Targheeb)
According to another report, he called, "debt" the sign of degradation.

Debt is Allah's standard (sign of degradation) on the earth. Whomever Allah wills to degrade, He puts this standard round his neck. (Al-Haakim)

It is reported that "debt" is also one of things from which the Holy Prophet would seek refuge with Allah. It is reported that the Holy Prophet would recite the following supplication in abundance.

"O Allah, I seek refuge with You from worry and sorrow, humility and negligence, stinginess and cowardice, debt and domination of the people." (Al-Bukhari)

Some of the letters that I receive are also about debt. Some worried Muslims write that they are under debt. They also demand some way out to get rid of it. I often write to them:

1. The following supplication for seven times on Friday:

Recite Durood Sharif for seven times in the beginning and at the end. Recite this supplication keeping the meanings in mind.

2. Recite for one thousand and one hundred times on Friday:

Recite Durrood Sharif for seven times in the beginning and at the end.

Allah be thanked, numerous Muslims have benefited from these supplications. If it is done with sincerity, attention and devotion, its effects begin to appear the very second Friday whereas permanent arrangements for living are made till the eleventh Friday. Allah is, do doubt, All-Powerful over everything. It is actually derived from Hadith. It is reported in Tirmizi that a slave who was in need of money to get freedom asked Hazrat Ali (RA) for help. He (RA) said, "May I not tell you the words that the Prophet of Allah told me. If you are under debt equal to a mountain, Allah will pay it. (i.e. He will make arrangements to pay it) Those words are as under:

"O Allah give me so much legal that I may not need the illegal and free me of all except Your grace." (Tirmizi)

The real thing is intention. The people borrow money in dire need and their intention is to pay it at all, and also try to pay it, Allah specially helps such people. The supplications of such people are granted. But the people who are armateur indebtors, put themselves into a great loss in this world and the Hereafter. If they do not intend to pay back the debt, they are recorded as "Thieves" with Allah. . Note a few narrations about debt:

Debt is a "Fear"

The Holy Prophet has said, "Do not put yourselves in fear after peace." The Sahaaba(RA) said, "What is that fear O Prophet of Allah?" He said, "Debt." (Ahmad, Abu Ya'ly, Haakim, At-Targheeb)
It means the man who is entangled in debt is deprived of peace and "Peace" is a great blessing of Allah. That man falls into "Fear" which is a calamity.

Dying In Debt Is A Great Sin

The Messenger of Allah said, "After the big prohibited sins, the biggest one is that man may die in debt without leaving any property to pay it back." (Musnad-e-Ahmad, Abu Dawood)

The Soul of The Indebted Remains Suspended

The Holy Prophet says, "The soul of the Mu'min remains suspended until his debt is cleared." (Musnad-e-Ahmad, Tirmizi)

It means that if that Mu'min's Emaan and actions are correct, and he deserves Paradise but he dies in debt, he will not enter Paradise until his debt is paid. His soul will remain suspended.

According to another report, his soul will be held in solitude. So, he will complain to Allah of loneliness.

Strictest Warnings

There are many other traditions about it but the strictest warnings are only two:

(1) The Holy Prophet refused to offer funeral prayers at the indebted dead who had not left behind him the property to pay back the debt. When the Sahaaba (RA) paid his debt, the Holy Prophet offered prayers. (Al-Bukhari)

(2) He said, "If a person is martyred many times i.e. he is turned alive after martyrdom, then turned alive then martyred again; if such a great martyred person dies in debt, he will not be able to enter Paradise until his debt is paid. (Musnad-e-Ahmad)

After studying all these warnings, the Muslims should avoid undue debtings. If they have to borrow under strict constraint, they should make intentions to pay back and also toil and pray for it. If they intend to pay back and toil for it but cannot pay back, there is great scope for such persons.

The Property Is Squandered

Those who are amateur indebtors i.e. they have no constraint and also do not intend to pay it back; there are numerous warnings for such people in the traditions. For example:

(1) There is no prosperity in their property rather Allah spoils it. (Al-Bukhari)

It means that the person who borrows with the intention not to pay it back, can never prosper. There is no prosperity in his property. His needs are not fulfilled rather his own property is also squarndered due to joining others' property in his own.
(2) His righteous deeds will be shifted to those from whom he borrowed. If the balance is not made, their sins will be shifted to his side. (Baihaqi)

(3) These people will be turned alive as "thieves" on the Day of Judgement. (Ibn-e-Maaja)

Those Who Intend to Pay Back The Debt

The people who borrow with the firm resolution to pay it back and they also strive for it; there is glad tidings for him. For example:

(1) The Messenger of Allah said, "The man who borrows with the intention to pay it back, Allah pays it from His own side." (Al-Bukhari)

(2) The Messenger of Allah said, "If a man from my Ummah borrows and toils to pay it back but dies before it, I am responsible for it. (Ahmad, Abu Ya'ly)

A Sympathetic Humble Request

May Allah protect us from debt! I request you all compassionately to avoid borrowing. It is a thing of great fear, worry, degradation and blessingslessness. Borrow only in case of dire need. But keep it in mind that it is not your property. It is others' property which is not lawful to you. If you do not return, it will be like stealing. Therefore, pay it back making full efforts. People have developed the love for property. They do not pay back the debt in spite of having property whereas the first job should be to pay back the debt as soon as one gains money.

O my Muslims brothers, the religious people should avoid debt. Debt cuts love and disgraces man beyond imagination. These days, religious task is suffering much due to the habit of debts among the religious people. The rich are mostly unlucky. They are deprived of Din and Jihad. They earn money all the day long and keep counting the notes. In the evening, they return home with the burden of property and sins. They are able to eat less than the poor, but they keep watch at a great wealth all the lime like the snake. May Allah protect us all against this painful torment!

These were a few facts regarding a few wealthy people. But some wealthy people are lucky also. They are the spiritual children of Hazrat Usman Ghani (RA) and Hazrat Abdu-ur-Rahman bin Auf. They earn money gracefully and buy the Herafter and Paradise with it. They invest money in Jihad and help millions of Muslims. Such people, when begin to perform religious duties, when they are attacked by the responsible people to borrow from them, they are averse and run away. The very first principle of religious persuasion is that I do not demand any reward from you. Now, if the religious preachers are avaricious, there will be efficacy in their persuasion and they will seek personal recommendations from people. If they try to borrow money, the religious people will run away them. Therefore, you are very humbly and compassionately requested to control yourselves. Do not let greed enter into your heart. Do not keep an eye at the property of the wealthy persons. Keep an eye on Allah's treasures only and avoid the habit of borrowing.

Utility of Ramazan-ul-Mubarik

If we have been making this mistake till today, the doors of repentance are open. This is the month of blessings and absolution. Observe ablution, go to a safe corner of the Masjid and offer two Raka't of repentance prayers. Do prostrate before Allah and repent of borrowing and avarice. Also make firm resolutions not to borrow money unduly, and try to pay back the debt that is against you. O Allah pardon our mistakes made by us till now and bless us with living from Your hidden treasures, save us from the unlawful living and bless us with vast lawful living! Then supplicate to Allah as told in the beginning of the article. Have firm faith in Allah. Some situation to pay back the debt will come to the view soon.