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These excerpts taken from the EBAY 10-K filed Feb 20, 2009. Loans
receivable, net
Loans receivable represent extensions of credit to individual
consumers to purchase goods and services through our Bill Me
Later merchant network. The terms of the consumer relationship
require us to submit monthly bills to the consumer detailing
loan repayment requirements. The terms also allow us to charge
the consumer, in certain circumstances, interest and fees. Loans
receivable are reported at their outstanding principal balances,
net of deferred origination costs and net of allowance, and
include the estimated collectible interest and fees. We charge
off loans receivable in the month in which the customer becomes
180 days past due. Bankrupt accounts are charged off within
60 days of receiving notification from the bankruptcy
courts.
Loans receivable, net Loans receivable represent extensions of credit to individual consumers to purchase goods and services through our Bill Me Later merchant network. The terms of the consumer relationship require us to submit monthly bills to the consumer detailing loan repayment requirements. The terms also allow us to charge the consumer, in certain circumstances, interest and fees. Loans receivable are reported at their outstanding principal balances, net of deferred origination costs and net of allowance, and include the estimated collectible interest and fees. We charge off loans receivable in the month in which the customer becomes 180 days past due. Bankrupt accounts are charged off within 60 days of receiving notification from the bankruptcy courts. | EXCERPTS ON THIS PAGE:
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