What is debt rescheduling?


What is financed amount rescheduling?
Financed amount rescheduling refers to restructuring the terms of an existing financed amount. The financed amount can be rescheduled as follows: 
  • Reduce payment amounts by extending the payment period and increasing the number of payments.
  • Pause payments or reduce payment amounts during a given period and then increase the amount of the monthly installments.
What is finance request rescheduling for?
When a financee (debtor) faces a temporary economic issue (liquidity issue, seasonal drop in sales, etc.) or another unforeseen event (accident, illness of the manager, natural disaster, etc.). It may be unable to fulfil the payments or repay the installments in time. 
In this case and if the financee (debtor) collaborates with Raqamyah, rescheduling the finance request may give time to the company to normalise their cash flow situation, recover from its temporary issue and avoid default. 
For financers, a finance request rescheduling represents a better option than default since you will keep on receiving monthly repayments. For financee (debtor), it is an alternative to late fees and reputational harm. 
Who decides the finance request rescheduling?
Raqamyah will decide on behalf of financers if it is going to reschedule the finance request as soon as the financee (debtor) requests the rescheduling of its finance request.
How are rescheduled financed request displayed in your portfolio? 
Rescheduled financed amount will appear on the financed amount page of your Dashboard under the label “Rescheduled”. Indeed, restructuring the terms of a financed amount does not guarantee that the financee (debtor) will honor the future repayments. Financed amount rescheduling represents a solution to the company’s economic issues and it does not ensure the recovery of the company. 
Therefore, in case of financed amount rescheduling, we estimate of a potential loss on the financed amount to enable you to get an accurate picture of your portfolio. 
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