| Schedule of consumer receivables |
Consumer receivables consisted of the following:
|
|
|
|
|
|
|
|
|
September 30, |
|
|
December 31, |
|
|
2022 |
|
|
2021 |
|
Unsecured personal loan receivables |
$ |
— |
|
|
$ |
1 |
|
Secured personal loan receivables |
|
69,897 |
|
|
|
77,491 |
|
Loan receivables |
|
69,897 |
|
|
|
77,492 |
|
Instacash receivables |
|
67,191 |
|
|
|
62,783 |
|
Finance receivables |
|
137,088 |
|
|
|
140,275 |
|
Fees receivable |
|
10,982 |
|
|
|
8,366 |
|
Subscription receivables |
|
3,086 |
|
|
|
3,099 |
|
Deferred loan origination costs |
|
577 |
|
|
|
929 |
|
Accrued interest receivable |
|
985 |
|
|
|
1,072 |
|
Consumer receivables, before allowance for credit losses |
$ |
152,718 |
|
|
$ |
153,741 |
|
|
| Schedule of changes in the allowance for losses on consumer receivables |
Changes in the allowance for losses on consumer receivables were as follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended September 30, |
|
|
Nine Months Ended September 30, |
|
|
2022 |
|
|
2021 |
|
|
2022 |
|
|
2021 |
|
Beginning balance |
$ |
23,124 |
|
|
$ |
14,701 |
|
|
$ |
22,323 |
|
|
$ |
9,127 |
|
Provision for credit losses on receivables |
|
27,428 |
|
|
|
15,238 |
|
|
|
77,453 |
|
|
|
36,644 |
|
Receivables charged off |
|
(38,468 |
) |
|
|
(20,979 |
) |
|
|
(102,011 |
) |
|
|
(51,819 |
) |
Recoveries |
|
10,549 |
|
|
|
7,831 |
|
|
|
24,868 |
|
|
|
22,839 |
|
Ending balance |
$ |
22,633 |
|
|
$ |
16,791 |
|
|
$ |
22,633 |
|
|
$ |
16,791 |
|
Changes in the allowance for losses on finance receivables were as follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended September 30, |
|
|
Nine Months Ended September 30, |
|
|
2022 |
|
|
2021 |
|
|
2022 |
|
|
2021 |
|
Beginning balance |
$ |
22,158 |
|
|
$ |
14,223 |
|
|
$ |
21,625 |
|
|
$ |
9,127 |
|
Provision for credit losses on receivables |
|
23,619 |
|
|
|
12,542 |
|
|
|
66,677 |
|
|
|
30,877 |
|
Finance receivables charged off |
|
(33,735 |
) |
|
|
(17,851 |
) |
|
|
(88,854 |
) |
|
|
(44,996 |
) |
Recoveries |
|
9,628 |
|
|
|
7,261 |
|
|
|
22,222 |
|
|
|
21,167 |
|
Ending balance |
$ |
21,670 |
|
|
$ |
16,175 |
|
|
$ |
21,670 |
|
|
$ |
16,175 |
|
Changes in the allowance for losses on fees receivable were as follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended September 30, |
|
|
Nine Months Ended September 30, |
|
|
2022 |
|
|
2021 |
|
|
2022 |
|
|
2021 |
|
Beginning balance |
$ |
548 |
|
|
$ |
281 |
|
|
$ |
420 |
|
|
$ |
— |
|
Provision for credit losses on receivables |
|
2,553 |
|
|
|
1,671 |
|
|
|
6,758 |
|
|
|
3,563 |
|
Fees receivable charged off |
|
(3,246 |
) |
|
|
(2,039 |
) |
|
|
(8,731 |
) |
|
|
(4,247 |
) |
Recoveries |
|
744 |
|
|
|
433 |
|
|
|
2,152 |
|
|
|
1,030 |
|
Ending balance |
$ |
599 |
|
|
$ |
346 |
|
|
$ |
599 |
|
|
$ |
346 |
|
Changes in the allowance for losses on subscription receivables were as follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended September 30, |
|
|
Nine Months Ended September 30, |
|
|
2022 |
|
|
2021 |
|
|
2022 |
|
|
2021 |
|
Beginning balance |
$ |
418 |
|
|
$ |
197 |
|
|
$ |
278 |
|
|
$ |
— |
|
Provision for credit losses on receivables |
|
1,256 |
|
|
|
1,025 |
|
|
|
4,018 |
|
|
|
2,204 |
|
Subscription receivables charged off |
|
(1,487 |
) |
|
|
(1,089 |
) |
|
|
(4,426 |
) |
|
|
(2,576 |
) |
Recoveries |
|
177 |
|
|
|
137 |
|
|
|
494 |
|
|
|
642 |
|
Ending balance |
$ |
364 |
|
|
$ |
270 |
|
|
$ |
364 |
|
|
$ |
270 |
|
|
| Schedule of assessment of the repayment performance of loans |
The following is an assessment of the repayment performance of loans as of September 30, 2022 and December 31, 2021 and presents the contractual delinquency of the loans receivable portfolio:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
September 30, 2022 |
|
|
December 31, 2021 |
|
|
Amount |
|
|
Percent |
|
|
Amount |
|
|
Percent |
|
Current |
$ |
60,693 |
|
|
|
86.8 |
% |
|
$ |
66,514 |
|
|
|
85.8 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
Delinquency: |
|
|
|
|
|
|
|
|
|
|
|
31 to 60 days |
|
5,370 |
|
|
|
7.7 |
% |
|
|
6,577 |
|
|
|
8.5 |
% |
61 to 90 days |
|
3,834 |
|
|
|
5.5 |
% |
|
|
4,401 |
|
|
|
5.7 |
% |
Total delinquency |
|
9,204 |
|
|
|
13.2 |
% |
|
|
10,978 |
|
|
|
14.2 |
% |
Loan receivables before allowance for loan losses |
$ |
69,897 |
|
|
|
100.0 |
% |
|
$ |
77,492 |
|
|
|
100.0 |
% |
The following is an assessment of the repayment performance of Instacash receivables as of September 30, 2022 and December 31, 2021 and presents the contractual delinquency of the Instacash receivables portfolio:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
September 30, 2022 |
|
|
December 31, 2021 |
|
|
Amount |
|
|
Percent |
|
|
Amount |
|
|
Percent |
|
Current |
$ |
60,241 |
|
|
|
89.7 |
% |
|
$ |
55,963 |
|
|
|
89.1 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
Delinquency: |
|
|
|
|
|
|
|
|
|
|
|
31 to 60 days |
|
6,950 |
|
|
|
10.3 |
% |
|
|
6,820 |
|
|
|
10.9 |
% |
61 to 90 days |
|
— |
|
|
|
0.0 |
% |
|
|
— |
|
|
|
0.0 |
% |
Total delinquency |
|
6,950 |
|
|
|
10.3 |
% |
|
|
6,820 |
|
|
|
10.9 |
% |
Instacash receivables before allowance for loan losses |
$ |
67,191 |
|
|
|
100.0 |
% |
|
$ |
62,783 |
|
|
|
100.0 |
% |
The following is an assessment of the repayment performance of fees receivable as of September 30, 2022 and December 31, 2021 and presents the contractual delinquency of the fees receivable portfolio:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
September 30, 2022 |
|
|
December 31, 2021 |
|
|
Amount |
|
|
Percent |
|
|
Amount |
|
|
Percent |
|
Current |
$ |
8,096 |
|
|
|
73.7 |
% |
|
$ |
6,682 |
|
|
|
79.9 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
Delinquency: |
|
|
|
|
|
|
|
|
|
|
|
31 to 60 days |
|
2,886 |
|
|
|
26.3 |
% |
|
|
1,684 |
|
|
|
20.1 |
% |
61 to 90 days |
|
— |
|
|
|
0.0 |
% |
|
|
— |
|
|
|
0.0 |
% |
Total delinquency |
|
2,886 |
|
|
|
26.3 |
% |
|
|
1,684 |
|
|
|
20.1 |
% |
Fees receivable before allowance for loan losses |
$ |
10,982 |
|
|
|
100.0 |
% |
|
$ |
8,366 |
|
|
|
100.0 |
% |
The following is an assessment of the repayment performance of subscription receivables as of September 30, 2022 and December 31, 2021 and presents the contractual delinquency of the subscription receivables portfolio:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
September 30, 2022 |
|
|
December 31, 2021 |
|
|
Amount |
|
|
Percent |
|
|
Amount |
|
|
Percent |
|
Current |
$ |
2,320 |
|
|
|
75.2 |
% |
|
$ |
2,227 |
|
|
|
71.8 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
Delinquency: |
|
|
|
|
|
|
|
|
|
|
|
31 to 60 days |
|
442 |
|
|
|
14.3 |
% |
|
|
514 |
|
|
|
16.6 |
% |
61 to 90 days |
|
324 |
|
|
|
10.5 |
% |
|
|
358 |
|
|
|
11.6 |
% |
Total delinquency |
|
766 |
|
|
|
24.8 |
% |
|
|
872 |
|
|
|
28.2 |
% |
Subscription receivables before allowance for loan losses |
$ |
3,086 |
|
|
|
100.0 |
% |
|
$ |
3,099 |
|
|
|
100.0 |
% |
|