Company: CPSS
Filing Date: 2025-03-12
Form Type: 10-K
Source: 0001683168-25-001548
Chunk: 700

Company: CONSUMER PORTFOLIO SERVICES, INC.
Filing Date: 2025-03-12
Form: 10-K
Item: Item 3
Chunk 700
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 a
default if an event of default occurred with respect to other indebtedness of ours, but only if such other event of default were to be
accompanied by acceleration of such other indebtedness. As of December 31, 2024, we were in compliance with all such financial covenants.

We currently have and will
continue to have a substantial amount of outstanding indebtedness. At December 31, 2024, we had approximately $3,130.9 million of debt
outstanding. Such debt consisted primarily of $2,594.4 million of securitization trust debt, and also included $410.9 million of warehouse
lines of credit, $99.2 million of residual interest financing debt and $26.5 million in subordinated renewable notes.

Although we believe we are
able to service and repay our debt, there is no assurance that we will be able to do so. If our plans for future operations do not generate
sufficient cash flows and earnings, our ability to make required payments on our debt would be impaired. If we fail to pay our indebtedness
when due, it could have a material adverse effect on us and may require us to issue additional debt or equity securities.

Contractual Obligations

The following table summarizes
our material contractual obligations as of December 31, 2024 (dollars in thousands):

    Payment Due by Period (1) 

    Less than  
    2 to 3  
    4 to 5  
    More than 

    Total  
    1 Year  
    Years  
    Years  
    5 Years 
  
    Long Term Debt (2) 
    $26,489  
    $8,445  
    $5,284  
    $6,911  
    $5,849 
  
    Operating and Finance Leases 
    $22,544  
    $4,857  
    $4,804  
    $4,792  
    $8,091 

(1)Securitization trust debt, in the aggregate amount of $2,594.4 million as of December 31, 2024, is omitted
from this table because it becomes due as and when the related receivables balance is reduced by payments and charge-offs. Expected payments,
which will depend on the performance of such receivables, as to which there can be no assurance, are $987