What is the ruling on selling a debt to another company?
Machine translationRead the Arabic original
Question:
May Allah reward you, Honorable Shaykh. This questioner says: I was in debt to a company in the past, then I contacted them to settle this debt, and they informed me that they had sold the debt to another company, and that I must contact them. These transactions happen frequently between companies in my country.
Answer:
A debt is not sold except to the one who owes it. However, they may have transferred it as a transfer of debt (hawalah), which is not a sale. They may have transferred the company’s claim to you. If this is a matter of transfer of debt (hawalah), there is no harm. But if it is a matter of sale, it is not permissible.
May Allah reward you, Honorable Shaykh. This questioner says: I was in debt to a company in the past, then I contacted them to settle this debt, and they informed me that they had sold the debt to another company, and that I must contact them. These transactions happen frequently between companies in my country.
Answer:
A debt is not sold except to the one who owes it. However, they may have transferred it as a transfer of debt (hawalah), which is not a sale. They may have transferred the company’s claim to you. If this is a matter of transfer of debt (hawalah), there is no harm. But if it is a matter of sale, it is not permissible.
Source
قناة «العلامة الدكتور صالح الفوزان»، [3436/3013] ما حكم بيع الدَّين لشركة أخرى؟ - الشيخ صالح الفوزان — youtube.com
The Arabic text is a machine transcription of the audio recording.