| Schedule of consumer receivables |
Consumer receivables consisted of the following:
|
|
|
|
|
|
|
|
|
December 31, |
|
|
December 31, |
|
|
2022 |
|
|
2021 |
|
Unsecured personal loan receivables |
$ |
— |
|
|
$ |
1 |
|
Secured personal loan receivables |
|
73,451 |
|
|
|
77,491 |
|
Loan receivables |
|
73,451 |
|
|
|
77,492 |
|
Instacash receivables |
|
77,688 |
|
|
|
62,783 |
|
Finance receivables |
|
151,139 |
|
|
|
140,275 |
|
Fees receivable |
|
14,019 |
|
|
|
8,366 |
|
Subscription receivables |
|
3,419 |
|
|
|
3,099 |
|
Deferred loan origination costs |
|
331 |
|
|
|
929 |
|
Accrued interest receivable |
|
1,068 |
|
|
|
1,072 |
|
Consumer receivables, before allowance for credit losses |
$ |
169,976 |
|
|
$ |
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:
|
|
|
|
|
|
|
|
|
Twelve Months Ended December 31, |
|
|
2022 |
|
|
2021 |
|
Beginning balance |
$ |
22,323 |
|
|
$ |
9,127 |
|
Provision for credit losses on receivables |
|
99,753 |
|
|
|
60,749 |
|
Receivables charged off |
|
(133,898 |
) |
|
|
(75,557 |
) |
Recoveries |
|
36,663 |
|
|
|
28,004 |
|
Ending balance |
$ |
24,841 |
|
|
$ |
22,323 |
|
Changes in allowance for losses on finance receivables were as follows:
|
|
|
|
|
|
|
|
|
Twelve Months Ended December 31, |
|
|
2022 |
|
|
2021 |
|
Beginning balance |
$ |
21,625 |
|
|
$ |
9,127 |
|
Provision for credit losses on receivables |
|
86,269 |
|
|
|
51,975 |
|
Finance receivables charged off |
|
(116,911 |
) |
|
|
(65,711 |
) |
Recoveries |
|
32,745 |
|
|
|
26,234 |
|
Ending balance |
$ |
23,728 |
|
|
$ |
21,625 |
|
Changes in allowance for losses on fees receivable were as follows:
|
|
|
|
|
|
|
|
|
Twelve Months Ended December 31, |
|
|
2022 |
|
|
2021 |
|
Beginning balance |
$ |
420 |
|
|
$ |
— |
|
Provision for credit losses on receivables |
|
8,253 |
|
|
|
5,604 |
|
Fees receivable charged off |
|
(11,221 |
) |
|
|
(6,400 |
) |
Recoveries |
|
3,251 |
|
|
|
1,216 |
|
Ending balance |
$ |
703 |
|
|
$ |
420 |
|
Changes in allowance for losses on subscription receivables were as follows:
|
| Schedule of assessment of the repayment performance of loans |
The following is an assessment of the repayment performance of loans as of December 31, 2022 and December 31, 2021 and presents the contractual delinquency of the loans receivable portfolio:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
December 31, 2022 |
|
|
December 31, 2021 |
|
|
Amount |
|
|
Percent |
|
|
Amount |
|
|
Percent |
|
Current |
$ |
63,578 |
|
|
|
86.6 |
% |
|
$ |
66,514 |
|
|
|
85.8 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
Delinquency: |
|
|
|
|
|
|
|
|
|
|
|
31 to 60 days |
|
5,579 |
|
|
|
7.6 |
% |
|
|
6,577 |
|
|
|
8.5 |
% |
61 to 90 days |
|
4,294 |
|
|
|
5.8 |
% |
|
|
4,401 |
|
|
|
5.7 |
% |
Total delinquency |
|
9,873 |
|
|
|
13.4 |
% |
|
|
10,978 |
|
|
|
14.2 |
% |
Loan receivables before allowance for loan losses |
$ |
73,451 |
|
|
|
100.0 |
% |
|
$ |
77,492 |
|
|
|
100.0 |
% |
The following is an assessment of the repayment performance of Instacash receivables as of December 31, 2022 and December 31, 2021 and presents the contractual delinquency of the Instacash receivables portfolio:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
December 31, 2022 |
|
|
December 31, 2021 |
|
|
Amount |
|
|
Percent |
|
|
Amount |
|
|
Percent |
|
Current |
$ |
70,003 |
|
|
|
90.1 |
% |
|
$ |
55,963 |
|
|
|
89.1 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
Delinquency: |
|
|
|
|
|
|
|
|
|
|
|
31 to 60 days |
|
7,685 |
|
|
|
9.9 |
% |
|
|
6,820 |
|
|
|
10.9 |
% |
61 to 90 days |
|
— |
|
|
|
0.0 |
% |
|
|
— |
|
|
|
0.0 |
% |
Total delinquency |
|
7,685 |
|
|
|
9.9 |
% |
|
|
6,820 |
|
|
|
10.9 |
% |
Instacash receivables before allowance for loan losses |
$ |
77,688 |
|
|
|
100.0 |
% |
|
$ |
62,783 |
|
|
|
100.0 |
% |
The following is an assessment of the repayment performance of fees receivable as of December 31, 2022 and December 31, 2021 and presents the contractual delinquency of the fees receivable portfolio:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
December 31, 2022 |
|
|
December 31, 2021 |
|
|
Amount |
|
|
Percent |
|
|
Amount |
|
|
Percent |
|
Current |
$ |
10,645 |
|
|
|
75.9 |
% |
|
$ |
6,682 |
|
|
|
79.9 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
Delinquency: |
|
|
|
|
|
|
|
|
|
|
|
31 to 60 days |
|
3,374 |
|
|
|
24.1 |
% |
|
|
1,684 |
|
|
|
20.1 |
% |
61 to 90 days |
|
— |
|
|
|
0.0 |
% |
|
|
— |
|
|
|
0.0 |
% |
Total delinquency |
|
3,374 |
|
|
|
24.1 |
% |
|
|
1,684 |
|
|
|
20.1 |
% |
Fees receivable before allowance for loan losses |
$ |
14,019 |
|
|
|
100.0 |
% |
|
$ |
8,366 |
|
|
|
100.0 |
% |
The following is an assessment of the credit quality of subscription receivables as of December 31, 2022 and December 31, 2021 and presents the contractual delinquency of the subscription receivables portfolio:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
December 31, 2022 |
|
|
December 31, 2021 |
|
|
Amount |
|
|
Percent |
|
|
Amount |
|
|
Percent |
|
Current |
$ |
2,487 |
|
|
|
72.8 |
% |
|
$ |
2,227 |
|
|
|
71.8 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
Delinquency: |
|
|
|
|
|
|
|
|
|
|
|
31 to 60 days |
|
534 |
|
|
|
15.6 |
% |
|
|
514 |
|
|
|
16.6 |
% |
61 to 90 days |
|
398 |
|
|
|
11.6 |
% |
|
|
358 |
|
|
|
11.6 |
% |
Total delinquency |
|
932 |
|
|
|
27.2 |
% |
|
|
872 |
|
|
|
28.2 |
% |
Subscription receivables before allowance for loan losses |
$ |
3,419 |
|
|
|
100.0 |
% |
|
$ |
3,099 |
|
|
|
100.0 |
% |
|