Company: CPSS
Filing Date: 2025-03-12
Form Type: 10-K
Source: 0001683168-25-001548
Chunk: 20

Company: CONSUMER PORTFOLIO SERVICES, INC.
Filing Date: 2025-03-12
Form: 10-K
Item: Item 1
Chunk 20
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%  
     23,305  
     28.0%  
     3,667  
     4.4%  
     21 
  
     2021  
     47,010  
     33,486  
     71.2%  
     12,288  
     26.1%  
     1,236  
     2.6%  
     19 
  
     2022  
     56,142  
     39,610  
     70.6%  
     14,578  
     26.0%  
     1,954  
     3.5%  
     15 
  
     2023  
     83,113  
     65,309  
     78.6%  
     14,545  
     17.5%  
     3,259  
     3.9%  
     11 

We view these results as a
confirmation of the effectiveness of our extension program. We consider accounts that have had extensions and were active or paid off
as of December 31, 2024 to be successful. Successful extensions result in continued payments of interest and principal (including payment
in full in many cases). Without the extension, however, the account may have defaulted, and we would have likely incurred a substantial
loss and no additional interest revenue.

For extension accounts that
ultimately charged off, we consider accounts that charged off more than six months after the extension to be at least partially successful.
In such cases, despite the ultimate loss, we received additional payments of principal and interest that otherwise we would not have
received.

Additional information about our extensions is provided in the tables
below:

    For the Year Ended 

    December 31, 2024  
    December 31, 2023  
    December 31, 2022 

    Average number of extensions granted per month 
     7,540  
     6,926  
     4,689 

    Average number of outstanding accounts 
     189,460  
     176,438  
     162,264 

    Average monthly extensions as % of average outstandings 
     4.0%  
     3.9%