Repayments, collections and PAR

Look after running loans in Hayat Lending — taking repayments and how they are allocated, partial and advance payments, late-payment penalties and waivers, the early-settlement quote with rebate, rescheduling and restructuring with arrears capitalised, write-off and recoveries, pay-online links and the borrower's statement page; the collections due list, visits, calls and promises to pay with location, officer assignment and SMS / WhatsApp reminders; and portfolio at risk (PAR 1 / 30 / 60 / 90) with ageing buckets.

Once a loan is disbursed, the work is collecting it. Repayments, settlements, notes, promises, reminders and links need lending.collect; rescheduling, write-off and penalty waivers need lending.approve.

Take a repayment

On the loan, Receive payment: the amount, the method, the reference (required for card, cheque and transfer), the date and a note, then Save receipt. Hayat posts one Sales receipt and shows how it was split.

How a payment is allocated. Open instalments are paid oldest first. Inside each instalment the parts are paid in the Allocation order of the settings — by default penalty → fee → interest → principal — before the next instalment. Anything left is an advance on the next instalment.

• Partial payments are fine; the instalment shows part paid.
• Paying ahead — use Raise dues to bill the coming instalments first, then receive.
• A payment larger than everything owed is refused — to pay off the loan use early settlement.
• Receipts entered directly in Sales against the loan's invoices are picked up too.

Penalties

From the due date plus the product's grace days, each overdue instalment builds up a penalty every day — a % per day of what is overdue, a fixed amount per day, or a fixed amount once — up to the product's cap.

The penalty shows on each instalment and on the statement. It becomes income only when it is paid (for Islamic loans it goes to Late Payment Charity Payable). Waive on an instalment (lending.approve) forgives all or part of its pending penalty, with a reason.

Early settlement

Settlement quote: choose Settle on (today or later) and Quote. The quote shows:

Settle … takes exactly that amount: one settlement invoice and a receipt are posted and the loan is Settled.

Reschedule

When a borrower cannot keep up, Reschedule (lending.approve) gives the loan new terms: the new tenor, and if needed a new rate, method and frequency, the new first due date (after today), and the reason. Tick Capitalise arrears to add what is overdue to the new principal — the old open invoices are then credited in Sales. A preview shows the new schedule first.

All instalments not yet billed are replaced. The loan is marked restructured — it shows in the PAR report — and the Reschedules tab keeps the old and new terms.

Write-off and recoveries

Write off (lending.approve), with the date and a reason, clears the whole balance to Loan Losses Written Off and waives the pending penalty. The loan is Written off. Any money that still comes in later is taken with Receive payment as usual and booked as a recovery (Recoveries of Written-off Loans).

Pay links and the borrower's page

• Pay link (Make link) makes an online payment link for an amount, valid for 72 hours, to send by SMS or WhatsApp. The payment is booked as a repayment by itself.
• Every loan also has a borrower's page — my.hayaterp.com/lending/… — with the loan summary, the next due date and amount, the schedule, the payments and Pay now for up to what is payable now. Copy the link from the loan; New link makes a new one and the old one stops working.

The borrower's national ID and phone are shown only as their last four digits. The page is off when Borrower statement pages by link is off in the settings. The Loan instalment due reminder in Marketing → Reminders sends the link before each due date and weekly while overdue: Dear {name}, your instalment of {amount} for loan {loan} is due on {date}. Pay online or see your statement: {link} — {business}.

Collections

Collections is the officer's due list for a date: every loan with something due or overdue — borrower and phone, group, officer, due, overdue, penalty, oldest due date, DPD (days past due), the last contact and any open promise. Filter by officer, group and Overdue at least (days).

• + Note / promise on a row records what happened: the kind — Visit, Call, Promise to pay or Note — the outcome, notes, and for a promise the date and amount. 📍 Add my location stores where the officer was. Save note.
• Tick rows and Assign officer to hand loans to a recovery officer.
• Send reminders: the channel (SMS or WhatsApp), the minimum days overdue and an officer or group — a reminder goes to each matching borrower.

Promises to pay lists promises — Open, Kept or Broken — by officer. Hayat checks them by itself every 6 hours (a promise is kept when the payment came by its date); Check now does it at once. Officers are notified of promises due today.

PAR and ageing

Days past due (DPD) is today minus the oldest due date still unpaid. Each loan falls in a bucket: Current, 1-30, 31-60, 61-90 or 90+. The Loans list has a chip per bucket to filter by.

Portfolio at risk is the outstanding principal of loans behind, as a share of the outstanding principal of all active loans:

PAR & ageing shows these figures with the loans and amount in each bucket; the Portfolio by product (PAR) and Portfolio at risk (loans) reports give them per product and per loan, and Officer performance gives each officer's PAR 30 and collection rate. Managers (lending.approve) are notified when a loan passes 30 days overdue.