Deuteronomy 15:1

1At the end of every seven years you must declare a cancellation
The Hebrew term שְׁמִטָּת (shemittat), a derivative of the verb שָׁמַט (shamat, “to release; to relinquish”), refers to the cancellation of the debt and even pledges for the debt of a borrower by his creditor. This could be a full and final remission or, more likely, one for the seventh year only. See R. Wakely, NIDOTTE 4:155–60. Here the words “of debts” are not in the Hebrew text, but are implied. Cf. NAB “a relaxation of debts”; NASB, NRSV “a remission of debts.”
of debts.
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