> Historians sometimes refer to it as “jubilee,” a term used for household debt forgiveness decrees in ancient Israel that were similar to debt forgiveness in ancient Egypt, Babylon, and elsewhere. The widespread existence of this type of debt forgiveness in antiquity profoundly attests to the universality and persistence of this debt accumulation issue.

It's important to note that Jubilee was not at all the same as "debt forgiveness" or "restructuring". It came in regular intervals and people knew when the next Jubilee was going to be when they entered the loan. This significantly changes the types of loans even offered.