Does the application of the Hadd expiate sins in the four schools of thought and according to the most preponderant opinion?

The majority of jurists hold the view that a prescribed punishment for a sin serves as an expiation for that sin. This is the opinion of Malik, Al-Shafi'i, Ahmad, most scholars, and the preferred view of Shaykh al-Islam Ibn Taymiyyah. They based their argument on the Hadith of 'Ubadah ibn al-Samit found in the two Sahih collections, where the Prophet, peace and blessings be upon him, made the prescribed punishments expiations and purifiers. As for those who repent and seek forgiveness, Allah forgives them.

The Hanafis, however, believe that the prescribed punishment does not purify; rather, purification is achieved through repentance. They cite Allah's saying concerning highway robbers: {That is for them a disgrace in this world, and in the Hereafter a great torment; except for those who repent}.

The correct view is the first one, for the Hadith clearly indicates that the application of a prescribed punishment in this world expiates the sin, and there will be no punishment for it in the Hereafter.