Every creditor that lendeth ought unto his neighbour shall release it - not by an absolute discharge of the debt, but by passing over that year without exacting payment. The relief was temporary and peculiar to that year during which there was a total suspension of agricultural labor.
he shall not exact it ... of his brother - that is, an Israelite, so called in opposition to a stranger or foreigner.
because it is called the Lord’s release - The reason for acquitting a debtor at that particular period proceeded from obedience to the command, and a regard for the honor, of God; an acknowledgment of holding their property of Him, and gratitude for His kindness.