Is it obligatory to sell the sole property that generates income to pay off a portion of debts, knowing that its value does not exceed 150,000 pounds while the debts amount to nearly one million pounds, and how can one live without income in old age?

If the debtor is in financial straits and unable to repay his debt, it is not permissible to imprison him, as Allah the Almighty says: "And if he should be in hardship, then [let there be] postponement until [a time of] ease. But if you remit [it by way of charity], that is better for you, if you only knew." The debtor must sell his assets that are in excess of his basic needs to repay his debts. As for a house that is rented out to provide for living expenses, if its owner is unable to work and earn, he is permitted to keep it, as it is considered like the tool of a craftsman or the capital of a merchant, which is left for the bankrupt person to spend from. However, if he is able to find work, he must sell it and repay as much of his debts as possible to the creditors equally. It is advisable for the debtor to clarify his financial hardship to the creditors and ask for forgiveness or a waiver of the debt, citing the prophetic hadiths that encourage leniency towards those in difficulty.