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Note 3 - Consumer Receivables Acquired for Liquidation - Collections Received Less Commissions and Direct Costs (Details) - USD ($)
3 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Gross collections (1) [1] $ 6,549,000 $ 8,220,000
Commissions and fees (2) [2] 3,174,000 4,195,000
Net collections $ 3,375,000 $ 4,025,000
[1] Gross collections include collections from third party collection agencies and attorneys, collections from in-house efforts and collections represented by account sales.
[2] Commissions are earned by third party collection agencies and attorneys, and include direct costs associated with the collection effort, generally court costs. In December 2007 an arrangement was consummated with one servicer who also received a 3% fee on gross collections received by the Company in connection with the related portfolio purchase. The fee is charged for asset location and skip tracing in connection with this portfolio purchase.