Company: CPSS
Filing Date: 2025-03-12
Form Type: 10-K
Source: 0001683168-25-001548
Chunk: 1741

Company: CONSUMER PORTFOLIO SERVICES, INC.
Filing Date: 2025-03-12
Form: 10-K
Item: Item 9C
Chunk 1741
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420  
    $27,553 
  
    Unearned acquisition fees, discounts and deferred origination costs, net 
     –  
     – 
  
    Finance receivables 
    $5,420  
    $27,553 

     F-16 

CONSUMER PORTFOLIO SERVICES, INC. AND SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

We consider an automobile
contract delinquent when an obligor fails to make at least 90% of a contractually due payment by the following due date, which date may
have been extended within limits specified in the servicing agreements. The period of delinquency is based on the number of days payments
are contractually past due, as extended where applicable. Automobile contracts less than 31 days delinquent are not reported as delinquent.
In certain circumstances we will grant obligors one-month payment extensions. The only modification of terms is to advance the obligor’s
next due date by one month and extend the maturity date of the receivable by one month. In certain limited cases, a two-month extension
may be granted. There are no other concessions, such as a reduction in interest rate, forgiveness of principal or of accrued interest.
Accordingly, we consider such extensions to be insignificant delays in payments. The following table summarizes the delinquency status
of finance receivables as of December 31, 2024 and 2023:

    Schedule of delinquency status
of finance receivables 

    December 31, 

    2024  
    2023 
  
    Delinquency Status 
    (In thousands) 
  
    Current 
    $2,994  
    $17,771 
  
    31-60 days 
     1,184  
     5,626 
  
    61-90 days 
     971  
     3,087 
  
    91 + days 
     271  
     1,069 

    $5,420  
    $27,553 

Finance receivables totaling
$271,000 and $1.1 million at December 31, 2024 and 2023, respectively, have been placed on non-accrual status as a result of their delinquency
status.

Allowance for Credit Losses
– Finance Receivables 

The allowance for credit