Dear Omaraha team,

I see in the last time many frozen/rewritten payments in the payment schedules. As you have implemented a new procedure here, can you please explain how this works in detail? E.g. how often/for which periods can payments be delayed? When will these payments be caught up, or does it mean an extension of the loan? Thanks.

Palatinate
Dear Omaraha team,I see in the last time many frozen/rewritten payments in the payment schedules. As you have implemented a new procedure here, can you please explain how this works in detail? E.g. how often/for which periods can payments be delayed? When will these payments be caught up, or does it mean an extension of the loan? Thanks.

Borrower has a option to sign loan repayment extension. It means that next repayment will be moved 1 month further and then borrower needs to pay 2 repayments at once or sign new repayment extension for one or both repayments. If borrower signs and pays extensions for both repayments, then repayments move again one month further and then borrower has to pay 3 repayments at once.
Borrower can sign up to 6 extensions this mean that borrower can create 3 month period with no repayments, but after that needs to pay all those repayments at once.
Investors will receive extra interest from every paid extension and overall loan period will not be extended.

vlk494

Hi vlk494,

please can you check out loan agreement # L15630447, it has been frozen since November so this borrower has now a 4 month period with no repayments, and would have to pay 5 rates at once now, but it is not in line with what you state above?

Palatinate
Hi vlk494,

please can you check out loan agreement # L15630447, it has been frozen since November so this borrower has now a 4 month period with no repayments, and would have to pay 5 rates at once now, but it is not in line with what you state above?

Hello,
This one is a special case, this borrower extensions limit has been manually increased but will not be extended anymore and she needs to pay in march. We have less than 10 cases were extension limit has been manually increased, so it is definitely not going to be common practice.