The mitzvah of Shemittas Kesafim comes into effect this year immediately before Rosh Hashanah. This law cancels all debts that someone is owed, meaning that the creditor cannot force collection.
Most chutz la’aretz residents are not that familiar with the laws of shmittah that will affect those who live in Eretz Yisroel every day next year. Actually, the laws can and do affect people living in chutz la’aretz also.
“What is the difference between shemittah and shevi’is?”
“What are sefichin?”
“I consider myself fairly well-educated, which may be a mistake. But I recently heard a term that I never heard before: heter otzar beis din. What does this term mean?”
A review of key halachos of The Shmita year.
The Torah (VaYikra 25:1-7) teaches that every seventh year is shmittah and prohibits
working the land of Eretz Yisrael. During that year; one may not plow, plant, or work the
field in any way. Furthermore, the farmer must treat whatever grows by itself on his land
as ownerless, allowing others to pick and keep his fruit.