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Loan Repayment

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  • Loan Repayment

    Assalam'alaikum,

    I am here to get some advice on the loan which i took 8 yrs back and did not repay.
    I was approached by one middle men to get the loan approved before i was leaving the country. I was not much aware that this amount will be haram for me and I accepted his offer. I am not sure in how many banks he applied the loan and how much was loan amount. He gave me the final amount saying that this is final amount after taking commission of bank employee and his share.
    I got in touch with this middle men and asked him for the details of loan but he said he don't have any information. Now that I want to settle this loan and there is no option to get the details of the loan, I am planning to donate this amount to poor.
    I have invested the amount in real estate and the price of the land has been multiplied by 3. If I want to donate the amount to the poor, do i have to donate the full amount or the actual amount which i took as loan?
    This year i am planning to perform Haaj, can I perform haaj before settling this amount?

    Jazak Allah

  • #2
    Re: Loan Repayment

    Have you contacted the bank?

    Comment


    • #3
      Re: Loan Repayment

      I don't get your question.

      If you got the money from the middleman , then you should return it to the middleman.

      If you got it from a bank, then return it to the bank.

      Comment


      • #4
        Re: Loan Repayment

        Originally posted by umm salabil View Post
        I don't get your question.

        If you got the money from the middleman , then you should return it to the middleman.

        If you got it from a bank, then return it to the bank.

        Middleman with the help a bank employee applied loan on my name and I am not sure which banks he applied the loan from.

        Comment


        • #5
          Re: Loan Repayment

          Has anyone asked you for the money?

          Do you have any paperwork?

          Comment


          • #6
            Re: Loan Repayment

            No one asked me for the money. I don't have any paper work, as it was kind of scam with the involvement of bank manager. My details were used to get the loan.

            Comment


            • #7
              Re: Loan Repayment

              Originally posted by nsalma View Post
              Middleman with the help a bank employee applied loan on my name and I am not sure which banks he applied the loan from.
              That is strange. The bank didn't contact you to get the money back and they didn't contact the middleman either? Didn't know things like that could happen.
              Maybe you can contact state credit associations and see if they have information about loans in your name / defaulted loans etc. You would have a bad credit rating if you didn't pay the loan.

              Comment


              • #8
                Re: Loan Repayment

                this money was basically stolen the money needs to go back to the bank it was stolen from; if they have no records then maybe you can give it anonymously; write a letter explaining the scam and how there is no record of it now and that you are giving it back out of fear of Allah; bank manager will just use your confession to deposit the money in their bank [maybe along with letter you can post it through the banks outside deposit box or through letter box when bank is shut]

                a person did this once with tube fairs he had evaded; he took 20 quid to the ticket counter and just explained and gave the 20 quid [this was in early 90's so twenty quid back then was a lot of money] and ticket woman just gave him a 20 quid receipt!

                but in your case do it totally anonymously so you don't get arrested!

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                • #9
                  Re: Loan Repayment

                  It happened in one of the country were i lived for 3 yrs and left for good due to some personal reasons. Also I don't know from which bank they applied loan for.

                  Comment


                  • #10
                    Re: Loan Repayment

                    Originally posted by nsalma View Post
                    It happened in one of the country were i lived for 3 yrs and left for good due to some personal reasons. Also I don't know from which bank they applied loan for.
                    cant you find out from the person who applied it?

                    if you cannot, then your only option is to tell a shaykh what to do now

                    Comment


                    • #11
                      Re: Loan Repayment

                      It could be that the money is written off depending on how long it has been.

                      You could contact whoever lives at the address now to see if any letters were posted to you or you could try a credit reference agency and see if they have any details.

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