Notes Receivable, Net

3 Months Ended

Mar. 31, 2022

Receivables [Abstract]

Notes Receivable, net

Note 3 – Notes Receivable, net

The Company’s notes receivable balance consists of loans to buyers of charged-off receivable portfolios. As of March 31, 2022 and December 31, 2021, the Company’s outstanding notes receivables, net of unamortized deferred fees and costs on originated loans, were $3.2 million and $4.0 million, respectively. During the three months ended March 31, 2022, the Company received principal payments made by borrowers of approximately $0.8 million and adjustments to the deferred fees and costs balance of approximately $0.1 million.

As of March 31, 2021, the Company did not record an allowance for credit losses related to notes receivable outstanding.