Ameerul-Mumineen `Uthman ibn Affan (radhiallahu `anhu) said in the presence of the Sahaaba that :
(قال عثمان بمحضر من الصحابة: " هذا شهر زكاتكم فمن كان عليه دين فليؤده حتى تخرجوا زكاة أموالكم
[Ref: Imam ash-shaf`ee narrated this in his Al-Umm (1/237) and Bayhaqi (4/148) both via Imam Malik and this is also in Muwatta Malik (1/253/17 as referenced by shaykh Albani). Also Ibn Abi Shaybah in his Musannaf (4/48) and others. Abu `Ubayd narrated in al-Amwaal (437/1247) in which the mentioned month is Ramadan. This is Saheeh]
The narration of al-Amwaal states :
حدثنا إبراهيم بن سعد عن ابن شهاب به إلا أنه قال: " ... فليؤده حتى تخرجوا زكاة أموالكم , ومن لم تكن عنده لم تطلب منه , حتى يأتى بها تطوعا , ومن أخذ منه لم يؤخذ منه حتى يأتى هذا الشهر من قابل
And the narrator Ibraahim clarified that
قال إبراهيم: أراه يعنى شهر رمضان "
Meaning the month of Ramadan
Imam Abu `Ubayd after narrating this narration said :
وقد جاءنا فى بعض الأثر ـ ولا أدرى عن من هو ـ أن هذا الشهر الذى أراده عثمان هو المحرم ".
Note: as per the prophetic hadeeth, even a saheeh whose status is so high is not forgiven for the financial debt he leaves behind. So make sure you pay your loans as soon as you can . Cut down on your Air condition and other non basic neccessities if you have to and if you are able to without suffering (from medical conditions or otherwise).
Additional statements quoted by Shaykh Muhammad saleh al-Munnajid on his website Islamqa are mentioned below for further clarity: