26 Apr 2015

Muslim Demands Banks Forgive $32,000 Debt Because…

A Muslim from Seattle, Washington has decided that Islamic law excludes him from paying around $32,000 in student loans.
The man, going by the name Amir, wrote to Steve Rhode, the Get Out of Debt Guy, to ask his advice regarding the interest on his student loans, amounting to half of the $64,000 he owes. Amir explained that he had unsuccessfully sought a “deferment of interest” from his lenders on the grounds that according to Islamic law “dealings with interest” are “strictly forbidden.”
 
“I am offering to pay off the original amount I owe,” Amir wrote.
But now, things have changed, according to the former Muslim student. Amir says he wants his lenders to acknowledge his “awareness and conditions have changed” since he agreed to the loan.
Rhode was not sympathetic to this reasoning.
“Asking any lender to adjust their terms and conditions after the fact for religious reasons is just not going to happen,” responded the Get Out of Debt Guy.

Rhode advised Amir against any deferment, because the accruing interest would put the debt in “turbo” mode. 

Having written previously about Islam and debt, Rhode advised the former student to seek help from his mosque, in the hopes that Islamic charities may aid him.
Rhode also explained that an Imam had informed him that Muslims who choose to borrow money with interest attached “are obligated to repay their entire debt and if they don’t they will prohibited from entering paradise when they die.”

2 comments:

  1. Jct: http://johnturmel.com/scc3 are 3 of my cases against paying the interest portion of the debt in the 1980s. Same argument Jesus told us to use. Give to Ceasar what is Ceasar's the social credit portion of the debt, the principal of the loan created, but get out the whips and repudiate the anti-social credit portion of the loan, the usury that was never created. Good move, keep at it. We'll pay the honorable portion for which we received goods and services but no usury for which we received nothing.

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  2. Hehe, he should try the Jewish approach! It is the 'Everything belongs to us Jews' approach.

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