The Ruling on the Zakah of a Debt

Question:
He says: Honorable Shaykh, may Allah grant you success, if a person has a debt, when does he pay its zakah? And does he sin if he delays it?

Answer:
You know that a debt is of two types. The first is a debt owed by a wealthy person who is willing to pay; when his creditor asks for it, he gives it to him. This is like money in his possession; he pays its zakah when the lunar year of possession is completed. The second type is a debt owed by a person who is unable to pay, or by a wealthy person who is delaying payment, so it is unknown whether he will receive it or not. He pays its zakah when he receives it. As long as he has not received it, he owes nothing, because he does not know if it will come or not. When he receives it and is able to access it, he pays its zakah.