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ALLOWANCE FOR LOAN LOSSES (Tables)
 3 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block]
The following is a summary of gross loans receivable by customer tenure as of:
Customer TenureJune 30, 2020
0 to 5 months$83,752,362  
6 to 17 months136,822,413  
18 to 35 months145,418,840  
36 to 59 months115,612,624  
60+ months582,293,853  
Tax advance loans3,977,212  
Total gross loans$1,067,877,304  
  
Summary of changes in the allowance for loan losses he following table presents a roll forward of the allowance for credit losses on our gross loans receivable for the three months ended June 30, 2020 and 2019.
Three months ended June 30,
20202019
Beginning balance, prior to adopting ASC 326$96,487,856  $81,519,624  
Impact of ASC 32628,628,369  —  
Provision for credit losses25,660,660  41,291,071  
Charge-offs(43,831,942) (39,523,987) 
Recoveries5,741,654  4,066,379  
Net charge-offs(38,090,288) (35,457,608) 
Ending Balance$112,686,597  $87,353,087  
  
Summary of loans individually and collectively evaluated for impairment  
The following is a summary of loans individually and collectively evaluated for impairment for the periods indicated:
March 31, 2020Loans individually
evaluated for
impairment
(impaired loans)		Loans collectively
evaluated for
impairment		Total
Gross loans in bankruptcy, excluding contractually delinquent$5,165,752  —  5,165,752  
Gross loans contractually delinquent70,719,727  —  70,719,727  
Loans not contractually delinquent and not in bankruptcy—  1,133,985,887  1,133,985,887  
Gross loan balance75,885,479  1,133,985,887  1,209,871,366  
Unearned interest and fees(16,848,762) (292,131,962) (308,980,724) 
Net loans59,036,717  841,853,925  900,890,642  
Allowance for credit losses(54,090,509) (42,397,347) (96,487,856) 
Loans, net of allowance for credit losses$4,946,208  799,456,578  804,402,786  

June 30, 2019Loans individually
evaluated for
impairment
(impaired loans)		Loans collectively
evaluated for
impairment		Total
Gross loans in bankruptcy, excluding contractually delinquent$4,898,870  —  4,898,870  
Gross loans contractually delinquent60,531,119  —  60,531,119  
Loans not contractually delinquent and not in bankruptcy—  1,157,266,256  1,157,266,256  
Gross loan balance65,429,989  1,157,266,256  1,222,696,245  
Unearned interest and fees(13,190,042) (307,538,515) (320,728,557) 
Net loans52,239,947  849,727,741  901,967,688  
Allowance for losses(47,549,279) (39,803,808) (87,353,087) 
Loans, net of allowance for losses$4,690,668  809,923,933  814,614,601  
Assessment of the credit quality
The following tables provide a breakdown of the Company’s gross loans receivable by current payment performance on a recency basis and year of origination at June 30, 2020:
Term Loans By Origination
LoansUp to
1
Year Ago		Between
1 and 2
Years Ago		Between
2 and 3
Years Ago		Between
3 and 4
Years Ago		Between
4 and 5
Years Ago		More than
5
Years Ago		Total
Current$933,050,195  $43,678,473  $1,953,256  $116,013  $12,122  $4,641  $978,814,700  
30 - 60 days past due24,943,823  2,985,766  248,629  37,376  5,503  —  28,221,097  
61 - 90 days past due15,453,159  1,550,308  96,260  7,050  2,041  —  17,108,818  
91 or more days past due35,812,872  3,742,231  172,985  23,255  4,134  —  39,755,477  
Total$1,009,260,049  $51,956,778  $2,471,130  $183,694  $23,800  $4,641  $1,063,900,092  
Term Loans By Origination
Tax advance loansUp to
1
Year Ago		Between
1 and 2
Years Ago		Between
2 and 3
Years Ago		Between
3 and 4
Years Ago		Between
4 and 5
Years Ago		More than
5
Years Ago		Total
Current$268,494  $1,590  $—  $—  $—  $—  270,084  
30 - 60 days past due197,410  1,477  —  —  —  —  198,887  
61 - 90 days past due296,041  1,375  —  —  —  —  297,416  
91 or more days past due3,202,760  8,065  —  —  —  —  3,210,825  
Total$3,964,705  $12,507  $—  $—  $—  $—  $3,977,212  
Total gross loans$1,067,877,304  

The following tables provide a breakdown of the Company’s gross loans receivable by current payment performance on a contractual basis and year of origination at June 30, 2020:
Term Loans By Origination
LoansUp to
1
Year Ago		Between
1 and 2
Years Ago		Between
2 and 3
Years Ago		Between
3 and 4
Years Ago		Between
4 and 5
Years Ago		More than
5
Years Ago		Total
Current$914,577,115  $37,828,421  $1,430,757  $36,609  $3,569  $—  $953,876,471  
30 - 60 days past due27,140,175  2,123,499  93,238  7,604  —  —  29,364,516  
61 - 90 days past due19,851,436  1,600,053  69,688  7,225  —  —  21,528,402  
91 or more days past due47,691,321  10,404,807  877,448  132,256  20,230  4,641  59,130,703  
Total$1,009,260,047  $51,956,780  $2,471,131  $183,694  $23,799  $4,641  $1,063,900,092  
Term Loans By Origination
Tax advance loansUp to
1
Year Ago		Between
1 and 2
Years Ago		Between
2 and 3
Years Ago		Between
3 and 4
Years Ago		Between
4 and 5
Years Ago		More than
5
Years Ago		Total
Current$216,051  $—  $—  $—  $—  $—  216,051  
30 - 60 days past due170,438  —  —  —  —  —  170,438  
61 - 90 days past due345,008  —  —  —  —  —  345,008  
91 or more days past due3,233,207  12,508  —  —  —  —  3,245,715  
Total$3,964,704  $12,508  $—  $—  $—  $—  $3,977,212  
Total gross loans$1,067,877,304  
The following is an assessment of the credit quality of loans for the periods indicated:
 March 31, 2020June 30, 2019
Credit risk 
Consumer loans- non-bankrupt accounts$1,203,552,152  $1,216,089,192  
Consumer loans- bankrupt accounts6,319,214  6,607,053  
Total gross loans$1,209,871,366  $1,222,696,245  
Consumer credit exposure 
Credit risk profile based on payment activity, performing$1,104,130,714  $1,133,978,402  
Contractual non-performing, 61 or more days delinquent (1)
105,740,652  88,717,843  
Total gross loans$1,209,871,366  $1,222,696,245  
Credit risk profile based on customer type 
New borrower$124,800,193  $147,365,635  
Former borrower127,108,125  133,566,583  
Refinance935,448,882  920,783,881  
Delinquent refinance22,514,166  20,980,146  
Total gross loans$1,209,871,366  $1,222,696,245  
Summary of the past due receivables The following table is an aging analysis on a recency basis at amortized cost of the Company’s gross loans receivable at June 30, 2020:
Days Past Due - Recency Basis
Customer TenureCurrent30 - 6061 - 90Over 90Total Past DueTotal Loans
0 to 5 months$63,370,265  $4,360,386  $3,845,030  $12,176,678  $20,382,094  $83,752,359  
6 to 17 months122,680,569  4,625,080  2,905,164  6,611,601  14,141,845  136,822,414  
18 to 35 months134,613,672  3,848,147  2,435,479  4,521,542  10,805,168  145,418,840  
36 to 59 months108,066,651  2,977,401  1,567,291  3,001,282  7,545,974  115,612,625  
60+ months550,083,543  12,410,084  6,355,854  13,444,373  32,210,311  582,293,854  
Tax advance loans270,084  198,886  297,416  3,210,826  3,707,128  3,977,212  
Total gross loans979,084,784  28,419,984  17,406,234  42,966,302  88,792,520  1,067,877,304  
Unearned interest, insurance and fees(250,844,815) (7,281,296) (4,459,536) (11,008,111) (22,748,943) (273,593,758) 
Total net loans$728,239,969  $21,138,688  $12,946,698  $31,958,191  $66,043,577  $794,283,546  
Percentage of period-end gross loans receivable2.7%1.6%4.0%8.3%
Days Past Due - Contractual Basis
Customer TenureCurrent30 - 6061 - 90Over 90Total Past DueTotal Loans
0 to 5 months$61,052,078  $4,137,299  $4,059,759  $14,503,223  $22,700,281  $83,752,359  
6 to 17 months119,558,962  4,554,409  3,349,431  9,359,612  17,263,452  136,822,414  
18 to 35 months131,531,720  3,981,247  3,037,117  6,868,756  13,887,120  145,418,840  
36 to 59 months105,431,039  2,984,422  2,092,410  5,104,754  10,181,586  115,612,625  
60+ months536,302,672  13,707,139  8,989,685  23,294,358  45,991,182  582,293,854  
Tax advance loans216,051  170,438  345,008  3,245,715  3,761,161  3,977,212  
Total gross loans954,092,522  29,534,954  21,873,410  62,376,418  113,784,782  1,067,877,304  
Unearned interest, insurance and fees(244,441,714) (7,566,955) (5,604,041) (15,981,048) (29,152,044) (273,593,758) 
Total net loans$709,650,808  $21,967,999  $16,269,369  $46,395,370  $84,632,738  $794,283,546  
Percentage of period-end gross loans receivable2.8%2.0%5.8%10.7%
The following is a summary of the past due receivables as of:
 March 31, 2020June 30, 2019
Contractual basis:  
30-60 days past due$49,137,102  $46,738,172  
61-90 days past due35,020,925  28,186,725  
91 days or more past due70,719,727  60,531,118  
Total$154,877,754  $135,456,015  
Percentage of period-end gross loans receivable12.8 %11.1 %
Recency basis:
30-60 days past due$48,206,910  $45,096,798  
61-90 days past due28,450,942  25,365,096  
91 days or more past due50,669,837  44,176,264  
Total$127,327,689  $114,638,158  
Percentage of period-end gross loans receivable10.5 %9.4 %
Financing Receivable, Nonaccrual It also shows year-to-date interest income recognized on nonaccrual loans:
Nonaccrual Financial Assets
Customer TenureAs of
June 30, 2020		As of
March 31, 2020		Financial Assets 61 Days or More Past Due, Not on Nonaccrual StatusNonaccrual Financial Assets With No Allowance
as of June 30, 2020		Interest Income
Recognized
0 to 5 months$19,210,705  $26,040,593  $—  $—  $685,262  
6 to 17 months13,445,952  17,466,450  —  —  756,414  
18 to 35 months10,647,059  13,723,295  —  —  630,127  
36 to 59 months7,816,047  10,071,288  —  —  488,763  
60+ months35,277,427  44,293,545  —  —  2,127,220  
Tax advance loans3,678,896  41,573  —  —  —  
Unearned interest, insurance and fees(23,077,796) (28,510,140) —  —  
Total$66,998,290  $83,126,604  $—  $—  $4,687,786