It is forbidden
for the lender to keep a document attesting to a loan once the loan has been
repaid or the borrower has been informed that he need not repay it: “Let not
wickedness dwell in your tents.” (Iyov 11:14) A lender who wants to return
the document, but delays doing so, also violates this prohibition. A lender
who refuses to return the document attesting to a loan that has be repaid
should be put into nidui for violating this prohibition, which is
from Divrei Kabbalah.
It is a mitzvah for children
who receive an inheritance from their father to repay his debts, even if
they have received only moveable property. In repaying their father’s debt’s
they fulfill the positive commandment of honoring one’s father, for it is a
disgrace to their father that he be counted among those who, like the
wicked, borrow and to do not pay their debts. But children who do not
receive an inheritance from their father have no mitzvah to pay their
father’s debts even if their father commanded them to pay his debts.
Nevertheless, the poskim have written that it is midas chassidus for the son
to save his father from punishment. He should make an effort to get the
creditors to relinquish the debt. This gives his father great nachas
ruach.