Emergent Capital (EMGC) 8-K 14 Nov 13 Other Events Financial data

Document_and_Entity_Informatio

Document and Entity Information	12 Months Ended
	Dec. 31, 2012
Document Information [Line Items]	'
Document Type	'8-K
Amendment Flag	'false
Document Period End Date	31-Dec-12
Trading Symbol	'IFT
Entity Registrant Name	'Imperial Holdings, Inc.
Entity Central Index Key	'0001494448

Consolidated_Balance_Sheets

Consolidated Balance Sheets (USD $)	Dec. 31, 2012	Dec. 31, 2011
In Thousands, unless otherwise specified
Assets	'	'
Cash and cash equivalents	$7,001	$16,255
Restricted cash	1,162	691
Certificate of deposit-restricted	'	891
Investment securities available for sale, at estimated fair value	12,147	57,242
Deferred costs, net	7	1,874
Prepaid expenses and other assets	14,165	3,277
Deposits-other	2,855	761
Interest receivable, net	822	5,758
Loans receivable, net	3,044	29,376
Structured settlement receivables, at estimated fair value	1,680	12,376
Structured settlement receivables at cost, net	1,574	1,553
Investment in life settlements, at estimated fair value	113,441	90,917
Fixed assets, net	217	555
Investment in affiliates	2,212	1,043
Assets of segment held for sale	15	30
Total assets	160,342	222,599
Liabilities	'	'
Accounts payable and accrued expenses	6,606	16,336
Other liabilities	20,796	4,279
Interest payable	'	5,505
Notes payable	'	19,277
Income taxes payable	6,295	6,295
Total liabilities	33,697	51,692
Commitments and Contingencies (Note 17)	'	'
Common stock (80,000,000 authorized; 21,206,12 and 21,202,614 issued and outstanding as of December 31, 2012 and 2011, respectively)	212	212
Additional paid-in-capital	238,064	237,755
Accumulated other comprehensive loss	-3	-66
Accumulated deficit	-111,628	-66,994
Total stockholders' equity	126,645	170,907
Total liabilities and stockholders' equity	$160,342	$222,599

Consolidated_Balance_Sheets_Pa

Consolidated Balance Sheets (Parenthetical)	Dec. 31, 2012	Dec. 31, 2011
Common stock, shares authorized	80,000,000	80,000,000
Common stock, shares issued	21,206,121	21,202,614
Common stock, shares outstanding	21,206,121	21,202,614

Consolidated_Statements_of_Ope

Consolidated Statements of Operations (USD $)	12 Months Ended
	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010
Income	'	'	'
Agency fee income	'	$6,470,000	$10,149,000
Interest income	2,014,000	8,303,000	18,660,000
Interest and dividends on investment securities available for sale	391,000	640,000	'
Origination fee income	500,000	6,480,000	19,938,000
Gain on forgiveness of debt	'	5,023,000	7,599,000
Gain on life settlements, net	151,000	5,000	1,951,000
Change in fair value of life settlements (Notes 12 & 14)	-5,660,000	570,000	10,156,000
Change in equity investment	'	'	-1,284,000
Servicing fee income	1,183,000	1,814,000	402,000
Gain on maturities of life settlements with subrogation rights, net	6,090,000	3,188,000	'
Other income	748,000	341,000	129,000
Total income	5,088,000	32,281,000	67,366,000
Expenses	'	'	'
Interest expense	1,255,000	8,524,000	28,155,000
Provision for losses on loans receivable	515,000	7,589,000	4,476,000
Loss on loan payoffs and settlements, net	125,000	3,837,000	4,981,000
Amortization of deferred costs	1,867,000	6,076,000	24,465,000
Personnel costs	9,452,000	12,906,000	8,639,000
Marketing costs	'	5,000	63,000
Department of Justice	'	8,000,000	'
Legal fees	23,974,000	9,855,000	2,006,000
Professional fees	5,262,000	4,373,000	3,108,000
Insurance	2,330,000	756,000	358,000
Other selling, general and administrative expenses	2,366,000	4,134,000	4,162,000
Total expenses	47,146,000	66,055,000	80,413,000
Loss from continuing operations before income taxes	-42,058,000	-33,774,000	-13,047,000
Benefit for income taxes	-39,000	'	'
Loss from continuing operations	-42,019,000	-33,774,000	-13,047,000
Discontinued Operations:	'	'	'
Loss from discontinued operations, net of income taxes	-2,615,000	-5,424,000	-2,650,000
Net loss	-44,634,000	-39,198,000	-15,697,000
Basic and diluted earnings per common share	'	'	'
Basic and diluted earning per share	($2.10)	($2.03)	($4.36)
Continuing Operations	'	'	'
Income	'	'	'
Interest income	$1,685,000	$7,750,000	$18,326,000
Basic and diluted earnings per common share	'	'	'
Basic and diluted earning per share	($1.98)	($1.75)	($3.62)
Discontinued Operation	'	'	'
Basic and diluted earnings per common share	'	'	'
Basic and diluted earning per share	($0.12)	($0.28)	($0.74)

Consolidated_Statements_of_Com

Consolidated Statements of Comprehensive Loss (USD $)	12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010
Net loss	($44,634)	($39,198)	($15,697)
Other comprehensive loss, net of tax:	'	'	'
Unrealized gains (loss) on investment securities available for sale	63	-66	'
Comprehensive loss	($44,571)	($39,264)	($15,697)

Consolidated_Statements_of_Sto

Consolidated Statements of Stockholders' /Members' Equity (USD $)	Total	Member Units	Series A Preferred Units	Series B Preferred Units	Series C Preferred Units	Series D Preferred Units	Series E Preferred Units	Common Stock	Additional Paid-in Capital	Retained Earnings (Accumulated Deficit)	Accumulated Other Comprehensive Income (Loss)
In Thousands, except Share data
Beginning Balance at Dec. 31, 2009	$16,859	$19,923	$4,035	$5,000	'	'	'	'	'	($12,099)	'
Beginning Balance (in shares) at Dec. 31, 2009	'	450,000	90,796	50,000	'	'	'	'	'	'	'
Comprehensive loss	-15,697	'	'	'	'	'	'	'	'	-15,697	'
Proceeds from sale of preferred units, units	'	'	'	'	70,000	7,000	73,000	'	'	'	'
Proceeds from sale of preferred units	15,000	'	'	'	7,000	700	7,300	'	'	'	'
Repurchase of common and preferred units, units	'	-112,500	'	-25,000	'	'	'	'	'	'	'
Repurchase of common and preferred units	-10,961	-8,461	'	-2,500	'	'	'	'	'	'	'
Ending Balance at Dec. 31, 2010	5,201	11,462	4,035	2,500	7,000	700	7,300	'	'	-27,796	'
Ending Balance (in shares) at Dec. 31, 2010	'	337,500	90,796	25,000	70,000	7,000	73,000	'	'	'	'
Comprehensive loss	-39,264	'	'	'	'	'	'	'	'	-39,198	-66
Conversion of debt and membership units into common shares, shares	'	-337,500	-90,796	-25,000	-70,000	-7,000	-73,000	2,300,273	'	'	'
Conversion of debt and membership units into common shares	5,158	-11,462	-4,035	-2,500	-7,000	-700	-7,300	23	38,132	'	'
Conversion of Skarbonka debt into common shares, net of tax, shares	'	'	'	'	'	'	'	1,272,727	'	'	'
Conversion of Skarbonka debt into common shares, net of tax	23,706	'	'	'	'	'	'	13	23,693	'	'
Phantom shares converted into common shares	290,000	'	'	'	'	'	'	27,000	290,000	'	'
Issuance of common stock pursunat to IPO, net of offering costs (in shares)	'	'	'	'	'	'	'	17,602,614	'	'	'
Issuance of common stock pursunat to IPO, net of offering costs	174,233	'	'	'	'	'	'	176	174,057	'	'
Stock-based compensation	1,583	'	'	'	'	'	'	'	1,583	'	'
Ending Balance at Dec. 31, 2011	170,907	'	'	'	'	'	'	212	237,755	-66,994	-66
Ending Balance (in shares) at Dec. 31, 2011	'	'	'	'	'	'	'	21,202,614	'	'	'
Comprehensive loss	-44,571	'	'	'	'	'	'	'	'	-44,634	63
Stock-based compensation	309	'	'	'	'	'	'	'	309	'	'
Restricted stock issued	'	'	'	'	'	'	'	3,507	'	'	'
Ending Balance at Dec. 31, 2012	$126,645	'	'	'	'	'	'	$212	$238,064	($111,628)	($3)
Ending Balance (in shares) at Dec. 31, 2012	'	'	'	'	'	'	'	21,206,121	'	'	'

Consolidated_Statements_of_Cas

Consolidated Statements of Cash Flows (USD $)	12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010
Cash flows from operating activities	'	'	'
Net loss	($44,634)	($39,198)	($15,697)
Adjustments to reconcile net loss to net cash used in operating activities:	'	'	'
Depreciation and amortization	385	612	722
Amortization of premiums and accretion of discounts on available for sale securities sale securities	962	1,198	'
Provision for doubtful accounts	'	661	85
Provision for losses on loans receivable	515	7,589	4,476
Stock-based compensation	309	1,873	'
Loss on loan payoffs and settlements, net	125	3,837	4,981
Origination fee income	-500	-6,480	-19,938
Unrealized change in fair value of life settlements	5,660	-570	-10,156
Unrealized change in fair value of structured settlements	-1,823	-5,302	-2,477
Gain on forgiveness of debt	'	-5,023	-7,599
Interest income on loans	-2,014	-8,303	-18,660
Amortization of deferred costs	1,867	6,076	24,465
Accretion of discount on debenture payable	'	233	'
Change in equity investments	'	'	1,284
Gain on sale and prepayment of investment securities available for sale	-53	-21	'
Realized gain on life settlements, net	-151	-5	-1,951
Change in assets and liabilities:	'	'	'
Purchase of certificate of deposit-restricted	895	'	-200
Deposits-other	-2,094	-68	54
Agency fees receivable	'	479	1,519
Investment in affiliates	-1,171	-964	-71
Structured settlement receivables	12,827	-5,539	523
Prepaid expenses and other assets	-10,833	-1,996	-3,467
Deferred Costs	'	2,755	'
Accounts payable and accrued expenses	-9,730	12,625	1,017
Other liabilities	16,517	-3,634	7,914
Interest receivable	343	-439	'
Interest payable	-5,505	-6,758	3,429
Deferred income tax	-39	'	'
Net cash used in operating activities	-38,142	-46,362	-27,796
Cash flows from investing activities	'	'	'
Purchase of fixed assets, net of disposals	-21	-311	-261
Purchase of intangible assets	'	'	-160
Investment in life settlement fund	'	'	-727
Purchase of investment securities available for sale	-35,492	-127,974	'
Proceeds from sale and prepayments of investment securities available for sale	79,781	69,490	'
Premiums paid on investments in life settlements	-27,804	-16,321	-745
Purchases of investments in life settlements	-130	-50,480	-1,324
Proceeds from sale of investments in life settlements	5,626	'	'
Proceeds from sale of investments, net	'	'	2,070
Proceeds from loan payoffs and lender protection insurance claims received in advance	26,676	51,778	128,847
Originations of loans receivable	'	-18,724	-24,744
Net cash provided by (used in) investing activities	48,636	-92,542	102,956
Cash flows from financing activities	'	'	'
Proceeds from sale of preferred units	'	'	15,000
Payments of cash pledged as restricted deposits	'	'	-455
Proceeds from initial public offering, net of offering expenses	'	174,233	'
Payment of financing fees	'	'	-6,010
Repayment of borrowings under credit facilities	-19,277	-36,176	-40,827
Restricted Cash	-471	'	'
Repayment of borrowings from affiliates	'	'	-93,216
Borrowings under credit facilities	'	234	24,247
Borrowings from affiliates	'	2,644	24,434
Net cash (used in) provided by financing activities	-19,748	140,935	-76,827
Net (decrease) increase in cash and cash equivalents	-9,254	2,031	-1,667
Cash and cash equivalents, at beginning of the year	16,255	14,224	15,891
Cash and cash equivalents, at end of the year	7,001	16,255	14,224
Supplemental disclosures of cash flow information:	'	'	'
Cash paid for interest during the period	6,746	14,992	26,743
Supplemental disclosures of non-cash financing activities:	'	'	'
Subscription to purchase Member units-Series E preferred	'	'	5,000
Repurchase of common and preferred units	'	'	10,961
Repayment of borrowings paid directly by our lender protection insurance carrier	'	'	63,968
Conversion of debt to common stock	'	35,158	'
Supplemental disclosures of non-cash investing activities:	'	'	'
Investment in life settlements acquired in foreclosure	$5,724	$6,409	$11,901

Organization_and_Description_o

Organization and Description of Business Activities	12 Months Ended
	Dec. 31, 2012
Organization and Description of Business Activities	'
	NOTE 1—ORGANIZATION AND DESCRIPTION OF BUSINESS ACTIVITIES
	Imperial Holdings, Inc. (“Imperial,” the “Company,” “we” or “us”) was formed initially as a Florida limited liability Company pursuant to an operating agreement dated December 15, 2006 between IFS Holdings, Inc., IMEX Settlement Corporation, Premium Funding, Inc. and Red Oak Finance, LLC. In connection with the Company’s initial public offering on February 3, 2011, the Company succeeded to the business, assets and liabilities of the limited liability Company.
	The Company, operating through its subsidiaries, is a specialty finance company with its corporate office in Boca Raton, Florida. The Company, prior to the sale of its structured settlement business discussed below, operated in two reportable business segments: life finance (formerly referred to as premium finance) and structured settlements. In the life finance business, the Company earns revenue/income from interest accruing on outstanding loans and loan origination fees over the life of the outstanding loans, servicing income, changes in the fair value of life settlements the Company acquires and receipt of death benefits with respect to matured life insurance policies it owns. In the structured settlement business, the Company purchased structured settlements at a discounted rate and sold such assets to third parties (see Discontinued Operations below).
	In February 2011, the Company completed the sale of 17,602,614 shares of common stock in its initial public offering at a price of $10.75 per share. The Company received net proceeds of approximately $174.2 million after deducting the underwriting discounts and commissions and its offering expenses.
	On September 27, 2011, the Company was informed that it was being investigated by the U.S. Attorney’s Office for the District of New Hampshire (the “USAO Investigation”). At that time, the Company was informed that, among other individuals, its former president and chief operating officer, former general counsel, three former life finance sales executives, two vice presidents and a funding manager were considered “targets” of the USAO Investigation. The USAO Investigation focused on the Company’s premium finance loan business.
	On February 17, 2012, the Company received a subpoena issued by the staff of the U.S. Securities and Exchange Commission (the “SEC”) seeking documents from 2007 through the present, generally related to the Company’s premium finance business and corresponding financial reporting. The SEC is investigating whether any violations of federal securities laws have occurred and the Company has been cooperating with the SEC regarding this matter. The Company is unable to predict what action, if any, might be taken in the future by the SEC or its staff as a result of the matters that are the subject of the subpoena or what impact, if any, the cost of responding to the subpoena might have on the Company’s financial position, results of operations, or cash flows. The Company has not established any provision for losses in respect of this matter.
	On April 30, 2012, the Company entered into a Non-Prosecution Agreement (the “Non-Prosecution Agreement”) with the USAO, which agreed not to prosecute the Company for its involvement in the making of misrepresentations on life insurance applications in connection with its premium finance business or any potential securities fraud claims related to its premium finance business. In the Non-Prosecution Agreement, the USAO and the Company agreed among other things, that the following facts are true and correct: (i) at all relevant times (x) certain insurance companies required that the prospective insured applying for a life insurance policy, and sometimes the agent, disclose information relating to premium financing on applications for life insurance policies, and (y) the questions typically required the prospective insured to disclose if he or she intended to seek premium financing in connection with the policy and sometimes required the agent to disclose if he or she was aware of any such intent on the part of the applicant; (ii) in connection with a portion of the Company’s retail operation known as “retail non-seminar” that began in December 2006 and was discontinued in January 2009, Imperial had a practice of disclosing on applications that the prospective insured was seeking premium financing when the life insurance company allowed premium financing from Imperial; however, in certain circumstances, Imperial internal life agents facilitated and/or made misrepresentations on applications that the prospective insured was not seeking premium financing when the insurance carrier was likely to deny the policy on the basis of premium financing; and (iii) to the extent that external agents, brokers and insureds caused other misrepresentations to be made in life insurance applications in connection with the retail non-seminar business, Imperial failed to appropriately tailor controls to prevent potential fraudulent practices in that business. As of December 31, 2012, the Company had 12 policies in its portfolio that once served as collateral for premium finance loans derived through the retail non-seminar business.
	In connection with the Non-Prosecution Agreement, Imperial voluntarily agreed to terminate its premium finance business, which historically accounted for the majority of the Company’s revenues and terminated certain senior sales staff associated with the premium finance business. Additionally, the Company paid the United States Government $8.0 million, and agreed to cooperate fully with the USAO’s ongoing investigation and to refrain from and self-report any criminal conduct. The Non-Prosecution Agreement has a term of three years until April 30, 2015, but after April 30, 2014 the Company may petition the USAO to forego the final year of the Non-Prosecution Agreement, if we otherwise comply with all of our obligations under the Non-Prosecution Agreement. Should the USAO conclude that Imperial has not abided by its obligations under the Non-Prosecution Agreement, the USAO could choose to terminate the Non-Prosecution Agreement, resume its investigation of the Company, or bring charges against Imperial.
	On August 2, 2012, the Board of Directors of the Company appointed Andrew Dakos, Phillip Goldstein and Gerald Hellerman to serve as directors of the Company in connection with a settlement (the “Settlement”) with Opportunity Partners L.P. (“Opportunity”). The Settlement resulted in Opportunity withdrawing its demand for a special meeting of shareholders, which it had submitted to the Company on May 23, 2012 and agreeing to dismiss its lawsuit to compel an annual meeting of shareholders. In connection with the Settlement, Walter Higgins and A. Penn Wyrough resigned from the Board of Directors. On August 14, 2012, Antony Mitchell, the Company’s chief executive officer, resigned as Chairman of the Board (though he continues to serve as a director and as the Company’s chief executive officer) and Mr. Goldstein was elected Chairman. On January 14, 2013, David Buzen resigned from the Board of Directors and on March 12, 2013, Robert Rosenberg informed the Board of Directors that he would not stand for re-election at the Company’s annual meeting of shareholders.
	As of December 31, 2012, the Company had approximately $20.3 million of cash, cash equivalents, and marketable securities including $1.2 million in restricted cash. This limited cash position was driven primarily by the defense and investigation of the Company and certain employees in connection with the USAO Investigation, SEC investigation and related shareholder litigation, which required significant, unbudgeted cash outlays. As previously reported in earlier periodic reports filed with the SEC, the Company anticipated a liquidity shortfall in the second quarter of 2013. Accordingly, to avoid lapsing policies, the Company sought additional capital and, on March 27, 2013, Greenwood Asset Portfolio, LLC (“Greenwood”), a subsidiary of the Company, borrowed $45 million in aggregate principal amount under the terms of an eighteen-month bridge facility, secured by substantially all of the Company’s portfolio of life insurance policies. Principal was borrowed under the facility at 92% resulting in net proceeds after transaction expenses of $41.4 million. After transaction expenses, up to 25% of the proceeds of the facility may be used by the Company for general corporate purposes, with the balance used by Greenwood to pay premiums on the life insurance policies it owns. Interest under the facility accrues at 12% per annum for nine months and thereafter increases to 18% for the remainder of the term of the facility. The Company intends to replace this facility, which is pre-payable at par without penalty, and refinance the bridge facility with more permanent capital once it is sourced. There can be no assurance, however, that we will be able to obtain capital on more favorable terms or at all. The facility should provide the Company with adequate liquidity to pay premiums on its portfolio of life insurance through 2013. See Note 23 Subsequent Events.
	Discontinued Operations
	Since its inception in 2007, the Company’s structured settlement business segment has experienced a history of losses from operations. The Company’s Board of Directors and management determined that it would be in the best interest of the Company’s stockholders to sell the Company’s structured settlement business. On October 25, 2013, the Company sold substantially all of the assets comprising its structured settlement business to Majestic Opco L.L.C for $12.0 million pursuant to an Asset Purchase Agreement.
	As a result, the Company has discontinued segment reporting and classified its operating results, net of income taxes, as discontinued operations. The accompanying consolidated balance sheets of the Company as of December 31, 2012 and 2011, and the related consolidated statements of operations and cash flows for each of the three years in the period ended December 31, 2012, and the related notes to the consolidated financial statements have been retrospectively revised to reflect the classification of our structured settlement business operating results, net of tax, as discontinued operations. See Note 5, Discontinued Operations for further information. Unless otherwise noted, the following notes refer to the Company’s continuing operations.

Summary_of_Significant_Account

Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2012
Summary of Significant Accounting Policies	'
	NOTE 2 — SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
	Principles of Consolidation
	The consolidated financial statements include the accounts of the Company, all of its wholly-owned subsidiaries and its special purpose entities. The special purpose entity has been created to fulfill specific objectives. All significant intercompany balances and transactions have been eliminated in consolidation.
	The results of the Company’s structured settlement segment have been classified and presented as discontinued operations in the accompanying Consolidated Statement of Operations (Note 5). Prior period results have been adjusted to conform to this presentation. No other adjustments have been made to the Consolidated Financial Statements and following notes.
	Life Finance Loans Receivable
	We report loans receivable acquired or originated by us at cost, adjusted for any deferred fees or costs in accordance with Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) 310-20, Receivables—Nonrefundable Fees and Other Costs, discounts, and loan impairment valuation. All loans are collateralized by life insurance policies. Interest income is accrued on the unpaid principal balance on a monthly basis based on the applicable rate of interest on the loans.
	In accordance with ASC 310, Receivables, we specifically evaluate all loans for impairment based on the fair value of the underlying policies as collectability is primarily collateral dependent. The loans are considered to be collateral dependent as the repayment of the loans is expected to be provided by the underlying insurance policies. In the event of default, the borrower typically relinquishes beneficial ownership of the policy to us in exchange for our release of the debt (or we enforce our security interests in the beneficial interests in the trust that owns the policy). For loans that have lender protection insurance, we make a claim against the lender protection insurance policy and, subject to terms and conditions of the lender protection insurance policy, our lender protection insurer has the right to direct control or take beneficial ownership of the policy upon payment of our claim. For loans without lender protection insurance, we have the option of selling the policy or maintaining it on our balance sheet for investment.
	We evaluate the loan impairment valuation on a monthly basis based on our periodic review of the estimated value of the underlying collateral. This evaluation is inherently subjective as it requires estimates that are susceptible to significant revision as more information becomes available. The loan impairment valuation is established as losses on loans are estimated and the provision is charged to earnings. Once established, the loan impairment valuation cannot be reversed to earnings.
	In order to originate premium finance transactions our lenders required that we procure lender protection insurance. This lender protection insurance mitigates our exposure to losses which may be caused by declines in the fair value of the underlying policies. At the end of each reporting period, for loans that have lender protection insurance, a loan impairment valuation is established if the carrying value of the loan receivable exceeds the amount of coverage. The lender protection insurance program was terminated as of December 31, 2010, and all loans originated after December 31, 2010, do not carry lender protection insurance coverage. Thus, for all loans originated in 2011 and beyond, a loan impairment valuation is established if the carrying value of a loan receivable exceeds the fair value of the underlying collateral. See Notes 10, 14 and 15 to the accompanying consolidated financial statements.
	Ownership of Life Insurance Policies
	In the ordinary course of business, a large portion of our borrowers default by not paying off the loan and relinquish ownership of the life insurance policy to us in exchange for our release of the obligation to pay amounts due. We also buy life insurance policies in the secondary and tertiary markets. We account for life insurance policies that we own as investments in life settlements (life insurance policies) in accordance with ASC 325-30, Investments in Insurance Contracts, which requires us to use either the investment method or the fair value method. The election is made on an instrument-by-instrument basis and is irrevocable. We have elected to account for these life insurance policies as investments using the fair value method.
	We initially record investments in life settlements at the transaction price. For policies acquired upon relinquishment by our borrowers, we determine the transaction price based on fair value of the acquired policies at the date of relinquishment. The difference between the net carrying value of the loan and the transaction price is recorded as a gain (loss) on loan payoffs and settlements. For policies acquired for cash, the transaction price is the amount paid.
	Valuation of Insurance Policies
	Our valuation of insurance policies is a critical component of our estimate for the loan impairment valuation and the fair value of our investments in life settlements (life insurance policies). We currently use a probabilistic method of valuing life insurance policies, which we believe to be the preferred valuation method in the industry. The most significant assumptions which we estimate are the life expectancy of the insured and the discount rate.
	In determining the life expectancy estimate, we analyze medical reviews from independent secondary market life expectancy providers (each a “LE provider”). An LE provider reviews the medical records and identifies all medical conditions it feels are relevant to the life expectancy of the insured. Debits and credits are then assigned by each LE provider to the individual’s health based on these medical conditions. The debit or credit that an LE provider assigns to a medical condition is derived from the experience of mortality attributed to this condition in the portfolio of lives that it monitors. The health of the insured is summarized by the LE provider into a life assessment of the individual’s life expectancy expressed both in terms of months and in mortality factor.
	The resulting mortality factor represents an indication as to the degree to which the given life can be considered more or less impaired than a standard life having similar characteristics (e.g. gender, age, smoking, etc.). For example, a standard insured (the average life for the given mortality table) would carry a mortality rating of 100%. A similar but impaired life bearing a mortality rating of 200% would be considered to have twice the chance of dying earlier than the standard life. Historically, the Company has procured the majority of its life expectancy reports from two life expectancy report providers and only used AVS life expectancy reports for valuation purposes. Beginning in the quarter ended September 30, 2012, the Company began utilizing life expectancy reports from 21st Services for valuation purposes and began averaging or “blending,” the results of the two life expectancy reports to establish a composite mortality factor. However, when “blending” the AVS and 21st Services life expectancy reports, if the difference in the probability of mortality between the reports is greater than 150%, the Company will reduce the higher mortality factor until the difference is 150%.
	The probability of mortality for an insured is then calculated by applying the blended life expectancy estimate to a mortality table. The mortality table is created based on the rates of death among groups categorized by gender, age, and smoking status. By measuring how many deaths occur during each year, the table allows for a calculation of the probability of death in a given year for each category of insured people. The probability of mortality for an insured is found by applying the mortality rating from the life expectancy assessment to the probability found in the actuarial table for the insured’s age, sex and smoking status. As discussed in Use of Updated Life Expectancies and Change in Mortality Table in Management’s Discussion and Analysis of Financial Condition and Results of Operations, the Company has historically applied an actuarial table developed by a third party. However, beginning in the quarter ended September 30, 2012, the Company transitioned to a table developed by the U.S. Society of Actuaries known as the 2008 Valuation Basic Table, or the 2008 VBT. However, because the 2008 VBT table does not account for anticipated improvements in mortality in the insured population, the table was modified in conjunction with outside consultants to reflect these expected mortality improvements. The Company believes that the change in mortality table does not materially impact the valuation of its life insurance policies and that its adoption of a modified 2008 VBT table is consistent with modified tables used by market participants.
	The mortality rating is used to create a series of best estimate probabilistic cash flows. This probability represents a mathematical curve known as a mortality curve. This curve is then used to generate a series of expected cash flows over the remaining expected lifespan of the insured and the corresponding policy. A discounted present value calculation is then used to determine the value of the policy. If the insured dies earlier than expected, the return will be higher than if the insured dies when expected or later than expected.
	The calculation allows for the possibility that if the insured dies earlier than expected, the premiums needed to keep the policy in force will not have to be paid. Conversely, the calculation also considers the possibility that if the insured lives longer than expected, more premium payments will be necessary. Based on these considerations, each possible outcome is assigned a probability and the range of possible outcomes is then used to create a price for the policy.
	As is the case with most market participants at December 31, 2012, the Company used a blend of life expectancies that are provided by two third-party LE providers. These are estimates of an insured’s remaining years. If all of the insured lives in the Company’s life settlement portfolio live six months shorter or longer than the life expectancies provided by these third parties, the change in fair market value would be as follows (dollars in thousands):
	Life Expectancy Months Adjustment		Value			Change in Value
	6			95,658			(17,783	)
	—			113,441			—
	-6			132,540			19,099
	As noted above, the Company takes an average, or blend, of the two life expectancy reports to derive a composite mortality factor, unless the difference in the probability of mortality between the reports is greater than 150%. In such instances and as reflected in the fair market value at December 31, 2012, the Company will cap the higher mortality factor at amount that is 150% above the lower mortality factor , which ultimately reduces the mortality factor inputted into the Company’s fair value model. At December 31, 2012, had the Company not implemented such a cap on affected policies, the fair value of the Company’s portfolio would have increased from the reported amount by $9.5 million. Additionally, the Company lengthened the life expectancy inputs to its fair value model on 45 policies with life expectancy reports that were more than two years old at December 31, 2012 based on the average lengthening reported on the 149 policies where update life expectancy reports were received. Had the Company not implemented such an adjustment on affected policies, the fair value of the Company’s portfolio would have increased from the reported amount by $5.8 million.
	The Company believes that investors in esoteric assets such as life insurance policies typically target yields averaging between 12%—17% for investments of more than a 5 year duration, and had historically used a 15%—17% range of discount rates to value its life insurance policies. In the third quarter of 2011 and in the immediate aftermath of becoming aware of the USAO investigation, the Company substantially increased the discount rates inputted into its fair value model as it believed the USAO Investigation along with certain unfavorable court decisions unrelated to the Company contributed to a contraction in the marketplace that has continued to reverberate. Since that time, the Company has been re-evaluating its discount rates at the end of every reporting period in order to reflect the estimated discount rates that could reasonably be used in a market transaction involving the Company’s portfolio of life insurance policies. In doing so, the Company relies on management insight, engages third party consultants to corroborate its assessment, engages in discussions with other market participants and potential financing sources and extrapolates the discount rate underlying actual sales of policies.
	Although the Company believes that its entry into the Non-Prosecution Agreement had a positive effect on the market generally and for premium financed life insurance policies specifically, the Company believes that, when given the choice to invest in a policy that was associated with the Company’s premium finance business and a similar policy without such an association, all else being equal, an investor would have generally opted to invest in the policy that was not associated with the Company’s premium finance business. However, since entering into the Non-Prosecution Agreement, investors have required less of a risk premium to transact in these policies and the Company expects that, in time, investors will continue to require less of a risk premium to transact in policies associated with its premium finance business. Accordingly, the Company expects that its discount rates for policies associated with its premium finance business will continue to decrease in future periods.
	As of December 31, 2012, the Company owned 214 policies with an aggregate investment in life settlements of $113.4 million. Of these 214 policies, 171 were previously premium financed and are valued using discount rates that range from 16.80% to 33.80%. The remaining 43 policies are valued using discount rates that range from 14.80% to 21.30%. The discount rate incorporates current information about market interest rates, the credit exposure to the insurance company that issued the life insurance policy and our estimate of the risk premium an investor in the policy would require. The extent to which the fair value could vary in the near term has been quantified by evaluating the effect of changes in the weighted average discount rate on the death benefit used to estimate the fair value. If the weighted average discount rate were increased or decreased by 1/2 of 1% and the other assumptions used to estimate fair value remained the same, the change in fair market value would be as follows (dollars in thousands):
	Weighted Average Rate		Rate Adjustment			Value			Change in Value
	23.51%			-0.5	%		116,300			2,859
	24.01%			—			113,441			—
	24.51%			0.5	%		110,694			(2,747	)
	Future changes in the discount rates we use to value life insurance policies could have a material effect on our yield on life settlement transactions, which could have a material adverse effect on our business, financial condition and results of our operations.
	At the end of each reporting period we re-value the life insurance policies using our valuation model in order to update our loan impairment valuation for loans receivable and our estimate of fair value for investments in policies held on our balance sheet. This includes reviewing our assumptions for discount rates and life expectancies as well as incorporating current information for premium payments and the passage of time.
	Use of Estimates
	The preparation of these consolidated financial statements, in conformity with accounting principles generally accepted in the United States of America, requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from these estimates and such differences could be material. Significant estimates made by management include the loan impairment valuation, allowance for doubtful accounts, the valuation of structured settlements and the valuation of investments in life settlements.
	Change in Accounting Estimate
	The Company has elected to account for the life settlement policies it acquired using the fair value method. The fair value is determined on a discounted cash flow basis, incorporating current life expectancy, expected premiums and discount rate assumptions (see Note 15). During the first quarter of 2011, the Company made revisions to the application of its valuation technique and assumptions used to measure fair value of the life settlement policies it acquired. The Company accounted for this change in accounting estimate prospectively in accordance with ASC 250-10-45-17, Change in Accounting Estimate, resulting in recognition of a pretax gain of $3.0 million recorded in unrealized change in fair value of life settlements in the accompanying consolidated statement of operations for the year ended December 31, 2011.
	The Company’s decision to revise its fair value calculations used to value all life insurance policies on hand at March 31, 2011 was driven by two factors. Firstly, with consideration to the wind-down of the lender protection insurance coverage (LPIC) program which ended on December 31, 2010, the value of the collateral serving the Company’s new lending activity is no longer determined primarily by the limit of liability provided by the LPIC coverage. Instead, the value of the collateral is based solely on the Company’s valuation model. Secondly, as a result of the Company’s initial public offering in February, 2011 and the new capital structure provided by it, the Company planned to build and retain a large and diversified pool of life policies.
	As discussed above, the Company uses a discounted cash flow model to calculate the fair value of its life insurance policy portfolio. That model is based on three principal factors: life expectancy, expected premiums and the discount rate. As discussed in Note 15, the Company began receiving updated life expectancy reports on the insureds represented in the Company’s portfolio of life insurance policies during 2012. As a result, the calculation of the life expectancy and discount rate inputs have changed. While the Company is endeavoring to obtain updated life expectancy reports for all of its policies, at December 31, 2012, the Company had only received updated life expectancies for 149 of the 214 policies in its portfolio. All updated reports that were obtained have been blended and inputted in the Company’s fair value model at December 31, 2012, which drove a decline of $31.3 million in the fair market value of the portfolio of life insurance policies during the year ended December 31, 2012. This decline was partially offset by premium payments, accretion due to the passage of time, and other changes to the Company’s fair value model, which resulted in a net unrealized change in fair value of approximately $5.7 million during the year ended December 31, 2012.
	Cash and Cash Equivalents
	Cash and cash equivalents include cash on hand, investments and all highly liquid instruments purchased with an original maturity of three months or less. The Company maintains the majority of its cash in several operating accounts with one commercial bank. Included in cash and cash equivalents is $110,000 and $3.0 million to be used by the Company to service policies as part of servicing a portfolio of life insurance policies for a third party as of December 31, 2012 and 2011, respectively. We also have a related servicing liability of $110,000 and $3.0 million which is included in other liabilities in the accompanying consolidated balance sheet as of December 31, 2012, and 2011, respectively.
	Investment Securities Available for Sale
	Investment securities available for sale are carried at fair value, inclusive of unrealized gains and losses, and net of discount accretion and premium amortization computed using the level yield method. Net unrealized gains and losses are included in other comprehensive income (loss) net of applicable income taxes. Gains or losses on sales of investment securities available for sale are recognized on the specific identification basis.
	Management evaluates securities for other than-temporary-impairment on a quarterly basis. Impairment is evaluated considering numerous factors, and their relative significance varies depending on the situation. Factors considered include the Company’s intent to hold the security until maturity or for a period of time sufficient for a recovery in value, whether it is more likely than not that the Company will be required to sell the security prior to recovery of its amortized cost basis, the length of time and extent to which fair value has been less than amortized cost, the historical and implied volatility of the fair value of the security, failure of the issuer of the security to make scheduled interest or principal payments, any changes to the rating of the security by a rating agency and recoveries or additional declines in fair value subsequent to the balance sheet date.
	Gain on Maturities of Life Settlements with Subrogation Rights, net
	Every credit facility entered into by subsidiaries of the Company between December 2007 and December 2010 to finance the premium finance lending business required lender protection insurance for each loan originated under such credit facility. Generally, when the Company exercises its right to foreclose on collateral the Company’s lender protection insurer has the right to direct control or take beneficial ownership of the life insurance policy, subject to the terms and conditions of the lender protection insurance policy, including notice and timing requirements. Otherwise, the lender protection insurer maintains its salvage collection and subrogation rights. The lender protection insurer’s salvage collection and subrogation rights generally provide a remedy by which the insurer can seek to recover the amount of the lender protection claim paid plus premiums paid by it, expenses and interest thereon.
	In those instances where the Company has foreclosed on the collateral, the lender protection insurer has maintained its salvage collection and subrogation rights, and has been covering the cost of the ongoing premiums needed to maintain certain of these life insurance policies. However, the lender protection insurer may elect at any time to discontinue the payment of premiums which would result in lapse of the policies if the Company does not otherwise pay the premiums. The Company views these policies as having uncertain value because the lender protection insurer controls what happens to the policy from a payment of premium standpoint, and the amount of the lender protection insurer’s salvage collection and subrogation claim rights on any individual life insurance policy could equal the cash flow received by the Company with respect to any such policy. For these reasons, , the Company does not rely on these policies for revenue generation, and these policies are considered contingent assets and not included in the amount of life insurance policies on the accompanying consolidated balance sheet.
	The Company accounts for the maturities of life insurance policies with subrogation rights, net of subrogation expenses as contingent gains in accordance with ASC 450, Contingencies and recognizes the revenue from the maturities of these policies when all contingencies are resolved.
	Loan Impairment Valuation
	In accordance with ASC 310, Receivables, the Company specifically evaluates all loans for impairment based on the fair value of the underlying policies as collectability is primarily collateral dependent. The loans are considered to be collateral dependent as the repayment of the loans is expected to be provided by the underlying insurance policies. In the event of default of a loan, the Company has the option to take control of the underlying life insurance policy enabling it to sell the policy or, for those loans that are insured (see below), collect the face value of the insurance certificate.
	The loan impairment valuation is evaluated on a monthly basis by management and is based on management’s periodic review of the fair value of the underlying collateral. This evaluation is inherently subjective as it requires estimates that are susceptible to significant revision as more information becomes available. The loan impairment valuation is established when, based on current information and events, it is probable that the Company will be unable to collect the scheduled payments of principal, interest, and origination fee due according to the contractual terms of the loan agreement. Once established, the impairment cannot be reversed to earnings.
	The Company purchased lender protection insurance coverage on loans that were sold to or participated by Imperial Life Financing, LLC, Imperial PFC Financing, LLC, Imperial Life Financing II, LLC, and Imperial PFC Financing II, LLC. This insurance mitigates the Company’s exposure to significant losses which may be caused by declines in the value of the underlying life insurance policies. For loans that have lender protection insurance coverage, a loan impairment valuation adjustment is established if the carrying value of the loan exceeds the amount of coverage at the end of the period.
	For the year ended December 31, 2012 the Company recognized an impairment charge of approximately $437,000 and $78,000 on the loans and related interest, respectively, and is reflected as a component of the provision for losses on loans receivable in the accompanying consolidated statement of operations. For the year ended December 31, 2011, the Company recognized an impairment charge of approximately $6.8 million and $796,000 related to impaired loans and interest, respectively. For the year ended December 31, 2010, the Company recognized an impairment charge of approximately $2.3 million and $2.2 million related to impaired loans and interest, respectively. See Notes 10, 14 and 15 to the accompanying consolidated financial statements.
	Agency Fees Receivable
	Agency fees are charged for services related to premium finance transactions. Agency fees are due per the signed fee agreement. Agency fees receivable are reported net of an allowance for doubtful accounts.
	Management’s determination of the allowance for doubtful accounts is based on an evaluation of the commission receivable, prior collection history, current economic conditions, and other inherent risks. The Company reviews agency fees receivable aging on a regular basis to determine if any of the receivables are past due. The Company writes off all uncollectible agency fee receivable balances against its allowance. The allowance for doubtful accounts was approximately $260,000 as of December 31, 2012 and 2011.
	Deferred Costs
	Deferred costs include costs incurred in connection with acquiring and maintaining credit facilities and costs incurred in connection with securing lender protection insurance. These costs are amortized over the life of the related loan using the effective interest method and are classified as amortization of deferred costs in the accompanying consolidated statement of operations.
	Interest Income and Origination Income
	Interest income consists of interest earned on loans receivable, income from accretion of discounts on purchased loans. Interest income is recognized when it is realizable and earned, in accordance with ASC 605, Revenue Recognition. Discounts are accreted over the remaining life of the loan using the effective interest method.
	Loans often include origination fees which are fees payable to the Company on the date the loan matures. The fees are negotiated at the inception of the loan on a transaction by transaction basis. The fees are accreted into income over the term of the loan using the effective interest method.
	Payments on loans are not due until maturity of the loan. As such, we typically do not have non-performing loans or non-accrual loans until post maturity of the loan. At maturity, the loans stop earning interest and origination income.
Interest and origination income on impaired loans is recognized when it is realizable and earned accordance with ASC 605, Revenue Recognition. Persuasive evidence of an arrangement exists through a loan agreement which is signed by a borrower prior to funding and sets forth the agreed upon terms of the interest and origination fees. Interest income and origination income are earned over the term of the loan and are accreted using the effective interest method. The interest and origination fees are fixed and determinable based on the loan agreement. For impaired loans, we continually reassess whether the collectability of the interest income and origination income is reasonably assured because the fair value of the collateral typically increases over the term of the loan. Our assessment of whether collectability of interest income and origination income is probable is based on our estimate of proceeds to be received upon maturity of the loan. To the extent that additional interest income is not recognized as collectability is not considered probable, origination income is not recognized. This is consistent with the objective of the interest method, as described in ASC 310-20, of maintaining a constant effective yield on the net investment in the receivable. Since our loans are due upon maturity, we cannot determine whether a loan is performing or non-performing until maturity. For impaired loans, our estimate of proceeds to be received upon maturity of the loan is generally correlated to our current estimate of fair value of the insurance policy, which is the measure to which the loans have been impaired, but also incorporates expected increases in fair value of the insurance policy over the term of the loan, trends in the market, and our experience with loan payoffs.
Revenue/Income Recognition
Our primary sources of revenue/income are in the form of unrealized change in fair value of life settlements, agency fees, interest income, origination fee income, servicing income and gains on maturities of life settlements with subrogation rights, net. Our revenue/income recognition policies for these sources of revenue/income are as follows:
	•		Unrealized Change in Fair Value of Life Settlements—When the Company acquires life insurance policies we initially record these investments at the transaction price, which is the fair value of the policy for those acquired upon relinquishment or the amount paid for policies acquired for cash. The fair value of the investment in insurance policies is evaluated at the end of each reporting period. Changes in the fair value of the investment based on evaluations are recorded as changes in fair value of life settlements in our consolidated statement of operations. The fair value is determined on a discounted cash flow basis that incorporates current life expectancy assumptions. The discount rate incorporates current information about market interest rates, the credit exposure to the insurance company that issued the life insurance policy and our estimate of the risk premium an investor in the policy would require.
	•		Agency Fees—Agency fees were paid by the referring life insurance agents based on negotiations between the parties and were recognized at the time a life finance loan is funded. Because agency fees are not paid by the borrower, such fees do not accrue over the term of the loan. A separate origination fee was charged to the borrower which is amortized into income over the life of the loan.
	•		Interest Income—Interest income on life finance loans is recognized when it is realizable and earned, in accordance with ASC 605, Revenue Recognition. Discounts on structured settlement receivables are accreted over the life of the settlement using the effective interest method.
	•		Origination Fee Income—Loans often include origination fees that are fees payable to us on the date the loan matures. The fees are negotiated at the inception of the loan on a transaction by transaction basis. The fees are accreted into income over the term of the loan using the effective interest method.
	•		Servicing Income—Servicing income is recorded when services are provided. Servicing income is primarily from servicing a portfolio of life insurance policies controlled by a third party. These services include verifying premiums are paid and correctly applied and updating files for medical history and ongoing premiums.
Fixed Assets
Fixed assets are stated at cost less accumulated depreciation and amortization. The Company provides for depreciation of fixed assets on a straight-line basis over the estimated useful lives of the assets which range from three to five years. Leasehold improvements are amortized using the straight-line method over the shorter of the expected life of the improvement or the remaining lease term.
Intangible Assets
Intangible assets represents amounts the Company paid to a third party in a settlement agreement to acquire the rights, title and interest to the domain name “Imperial.com” for a price of $160,000, and is included in prepaid expenses and other assets in the accompanying consolidated balance sheet. The domain name is being amortized using the straight-line method over its estimated useful life.
Loss on Loan Payoffs and Settlements, Net
When a premium finance loan matures, we record the difference between the net carrying value of the loan and the cash received, or the fair value of the life insurance policy that is obtained in the event of payment default, as a gain or loss on loan payoffs and settlements, net. This account was significantly impacted by the Acorn settlement whereby the Company recorded a loss on loan payoffs and settlements of zero and $4.1 million during the years ended December 31, 2012 and 2011, respectively.
Fair Value Measurements
The Company follows ASC 820, Fair Value Measurements and Disclosures when required to measure fair value for recognition or disclosure purposes. ASC 820 defines fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. ASC 820 also establishes a three-level hierarchy for fair value measurements which prioritizes and ranks the level of market price observability used in measuring investments at fair value. Investments measured and reported at fair value are classified and disclosed in one of the following categories:
Level 1—Valuation is based on unadjusted quoted prices in active markets for identical assets and liabilities that are accessible at the reporting date. Since valuations are based on quoted prices that are readily and regularly available in an active market, valuation of these products does not entail a significant degree of judgment.
Level 2—Valuation is determined from pricing inputs that are other than quoted prices in active markets that are either directly or indirectly observable as of the reporting date. Observable inputs include quoted prices for similar assets or liabilities in active markets, quoted prices for identical or similar assets or liabilities in markets that are not active, and interest rates and yield curves that are observable at commonly quoted intervals.
Level 3—Valuation is based on inputs that are both significant to the fair value measurement and unobservable. Level 3 inputs include situations where there is little, if any, market activity for the financial instrument. The inputs into the determination of fair value generally require significant management judgment or estimation.
The availability of valuation techniques and observable inputs can vary from investment to investment and is affected by a wide variety of factors including, the type of investment, whether the investment is new and not yet established in the marketplace, and other characteristics particular to the transaction.
To the extent that valuation is based on models or inputs that are less observable or unobservable in the market, the determination of fair value requires more judgment. Those estimated values do not necessarily represent the amounts that may be ultimately realized due to the occurrence of future circumstances that cannot be reasonably determined. Because of the inherent uncertainty of valuation, those estimated values may be materially higher or lower than the values that would have been used had a ready market for the investments existed. Accordingly, the degree of judgment exercised by the Company in determining fair value of assets and liabilities is greatest for items categorized in Level 3. In certain cases, the inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, for disclosure purposes, the level in the fair value hierarchy within which the fair value measurement in its entirety falls is determined based on the lowest level input that is significant to the fair value measurement.
Fair value is a market-based measure considered from the perspective of a market participant rather than an entity-specific measure. Therefore, even when market assumptions are not readily available, the Company’s own assumptions are set to reflect those that market participants would use in pricing the asset or liability at the measurement date. The Company uses prices and inputs that are current as of the reporting date, including periods of market dislocation. In periods of market dislocation, the observability of prices and inputs may be reduced for many investments. This condition could cause an investment to be reclassified to a lower level within the fair value hierarchy (see Note 15).
Income Taxes
Prior to our initial public offering in 2011, we converted from a Florida limited liability company to a Florida corporation (the “Conversion”). Prior to the Conversion we were treated as a partnership for federal and state income tax purposes. As a partnership our taxable income and losses were attributed to our members, and accordingly, no provision or liability for income taxes was reflected in the accompanying consolidated financial statements for periods prior to the Conversion.
After the Conversion, we began to account for income taxes in accordance with ASC 740, Income Taxes. Under ASC 740, deferred income taxes are determined based on the estimated future tax effects of differences between the financial statement and tax basis of assets and liabilities given the provisions of enacted tax laws. Deferred income tax provisions and benefits are based on changes to the assets or liabilities from year to year. In providing for deferred taxes, we consider tax regulations of the jurisdictions in which we operate, estimates of future taxable income and available tax planning strategies. If tax regulations, operating results or the ability to implement tax-planning strategies varies, adjustments to the carrying value of the deferred tax assets and liabilities may be required. Valuation allowances are based on the “more likely than not” criteria of ASC 740.
At December 31, 2012 and 2011, due to the large losses and the uncertainties that resulted from the USAO Investigation, SEC investigation, Non-Prosecution Agreement and class action lawsuits, we recorded a full valuation allowance against our net deferred tax asset of $27.8 million and $11.1 million, respectively, as it is more likely than not that the net deferred tax asset is not realizable. As a result of these increases in the valuation allowance, we recorded no income tax benefit for 2012 and 2011.
The accounting for uncertain tax positions guidance under ASC 740 requires that we recognize the financial statement benefit of a tax position only after determining that the relevant tax authority would more likely than not sustain the position following an audit. For tax positions meeting the more-likely-than-not threshold, the amount recognized in the financial statements is the largest benefit that has a greater than 50 percent likelihood of being realized upon ultimate settlement with the relevant tax authority. We recognize interest and penalties (if any) on uncertain tax positions as a component of income tax expense.
The Company’s corporate income tax returns for all years are subject to examination. Various state jurisdiction tax years remain open to examination.
In February of 2013 the Company was notified by the Internal Revenue Service of its intention to examine the Company’s partnership return for the year ended December 31, 2010. Audit field work for this examination has not been scheduled.
Stock-Based Compensation
We have adopted ASC 718, Compensation—Stock Compensation. ASC 718 addresses accounting for share-based awards, including stock options, with compensation expense measured using fair value and recorded over the requisite service or performance period of the award. The fair value of equity instruments issued upon or after the closing of our offering will be determined based on a valuation using an option pricing model which takes into account various assumptions that are subjective. Key assumptions used in the valuation will include the expected term of the equity award taking into account both the contractual term of the award, the effects of expected exercise and post-vesting termination behavior, expected volatility, expected dividends and the risk-free interest rate for the expected term of the award.
Earnings Per Share
The Company computes net income per share/unit in accordance with ASC 260, Earnings Per Share. Under the provisions of ASC 260, basic net income per share is computed by dividing the net income available to common shareholders by the weighted average common shares outstanding during the period. Diluted net income per share adjusts basic net income per share for the effects of stock options and restricted stock awards only in periods in which such effect is dilutive. ASC 260 also requires the Company to present basic and diluted earnings per share information separately for each class of equity instruments that participate in any income distribution with primary equity instruments.
Restricted Cash
The Cedar Lane credit facility requires the Company to retain 2% of the principal amount of each loan made to the borrower, for the purposes of indemnifying the facility for any breaches of representations, warranties or covenants of the borrower, as well as to fund collection efforts, if required. As of December 31, 2012 and December 31, 2011 the Company’s consolidated financial statements reflected balances of approximately $1.2 million and $691,000 included in restricted cash, respectively (see Note 23).
Gain on Sale of Life Settlements
Gain on sale of life settlements includes gain from company-owned life settlements.
Risks and Uncertainties
In the normal course of business, the Company encounters economic, legal and longevity risk. There are three main components of economic risk: credit risk, market risk and concentration of credit risk. Credit risk is the risk of default on the Company’s loan portfolio that results from a borrower’s inability or unwillingness to make contractually required payments. Market risk for the Company includes interest rate risk. Market risk also reflects the risk of declines in valuation of the Company’s investments, including declines caused by the selection of increased discount rates associated with the Company’s fair value model for investments in life settlements. It is reasonably possible that future changes to estimates involved in valuing life settlements could change and result in material effects to the future financial statements. Concentration of credit risk includes both the risk that lenders under the Company’s structured settlement financing facilities do not fund the purchase of structured settlement receivables when contractually obligated to do so and also includes the risk that an insurance carrier who has issued life insurance policies held by the Company in its portfolio does not remit the amount due under those policies upon policy maturities due to the deteriorating financial condition of the carrier or otherwise. Legal risk includes the risk that statutes define or courts interpret insurable interest in a manner adverse to the Company’s ownership rights in its portfolio of life insurance policies and the risk that courts allow insurance carriers to retain premiums paid by the Company in respect of insurance policies that have been successfully rescinded or contested. Longevity risk refers to the risk that the Company does not experience the mortalities of insureds in its portfolio of life insurance policies that are anticipated to occur on an actuarial basis in a timely manner, which would result in the Company expending additional amounts for the payment of premiums. See Note 18, Commitments and Contingencies.
Investment in Other Companies
The Company uses the equity method of accounting to account for its investment in other companies which the Company does not control but over which it exerts significant influence; generally this represents ownership interest of at least 20% and not more than 50%. The Company considers whether the fair values of any of its investments have declined below their carrying values whenever adverse events or changes in circumstances indicate that recorded values may not be recoverable. If the Company considers any such decline to be other than temporary, a write-down would be recorded to estimated fair value. During 2010, the Company wrote-off its entire investment in MXT as the Company determined that the estimated fair value of its investment in MXT was zero and the decline was other than temporary.
Held-for-sale and discontinued operations: The Company reports a business as held-for-sale when management has approved or received approval to sell the business and is committed to a formal plan, the business is available for immediate sale, the business is being actively marketed, the sale is anticipated to occur during the ensuing year and certain other specified criteria are met. A business classified as held-for-sale is recorded at the lower of its carrying amount or estimated fair value less cost to sell. If the carrying amount of the business exceeds its estimated fair value, a loss is recognized. Depreciation is not recorded on assets of a business classified as held-for-sale. Assets and liabilities related to a business classified as held-for-sale are segregated in the Consolidated Balance Sheet and major classes are separately disclosed in the notes to the Consolidated Financial Statements commencing in the period in which the business is classified as held-for-sale. The Company reports the results of operations of a business as discontinued operations if the business is classified as held-for-sale, the operations and cash flows of the business have been or will be eliminated from the ongoing operations of the Company as a result of a disposal transaction and the Company will not have any significant continuing involvement in the operations of the business after the disposal transaction. The results of discontinued operations are reported in Discontinued Operations in the Consolidated Statement of Operations for current and prior periods commencing in the period in which the business meets the criteria of a discontinued operation, and include any gain or loss recognized on closing or adjustment of the carrying amount to fair value less cost to sell (see Note 5).
Reclassifications
Certain reclassifications of the prior period amounts and presentation have been made to conform to the presentation for the current period.
Recent Accounting Pronouncements
In May 2011, the FASB issued Accounting Standards Update (ASU) No. 2011-04, Fair Value Measurement (Topic 820): Amendments to Achieve Fair Value Measurement and Disclosure Requirements in U.S. GAAP and IFRSs. This update clarifies existing guidance about how fair value should be applied where it already is required or permitted and provides wording changes that align this standard with International Financial Reporting Standards (IFRS). We are required to apply this guidance prospectively beginning with our first quarterly filing in 2012. The adoption of this new guidance has not had an impact on our financial position or results of operations.
June 2011, the FASB issued ASU No. 2011-05, Comprehensive Income (Topic 220): Presentation of Comprehensive Income. This update increases the prominence of other comprehensive income in financial statements, eliminating the option of presenting other comprehensive income in the statement of changes in equity, and instead, requiring the components of net income and comprehensive income to be presented in either one or two consecutive financial statements. We are required to comply with this guidance prospectively beginning with our first quarterly filing in 2012. The adoption of this new guidance has not had an impact on our financial position or results of operations.
In September 2011, the FASB issued ASU No. 2011-08, Intangibles–Goodwill and Other (Topic 350): Testing Goodwill for Impairment. This update allows entities testing goodwill for impairment the option of performing a qualitative assessment before calculating the fair value of the reporting unit (i.e., step one of the two-step goodwill impairment test). If entities determine, on the basis of qualitative factors, that the fair value of the reporting unit is more likely than not less than the carrying amount, the two-step impairment test would be required. The amendments are effective for annual and interim goodwill impairment tests performed for fiscal years beginning after December 15, 2011. The adoption of this new guidance has not had an impact on our financial position or results of operations.
In December 2011, the FASB issued ASU No. 2011-12, Comprehensive Income (Topic 220): Deferral of the Effective Date for Amendments to the Presentation of Reclassifications of Items Out of Accumulated Other Comprehensive Income in Accounting Standards Update No. 2011-05. This update delays the effective date of the requirement to present reclassification adjustments for each component of accumulated other comprehensive income in both net income and other comprehensive income on the face of the financial statements.
In February 2013, the FASB issued ASU No. 2013-02, Reporting of Amounts Reclassified Out of Accumulated Other Comprehensive Income. This update adds new disclosure requirements for items reclassified out of accumulated other comprehensive income. We are required to apply this guidance prospectively beginning with our first quarterly filing in 2013. The adoption of this new guidance will not impact our financial position or statement of operations, other than changes in presentation.

Earnings_Per_Share

Earnings Per Share	12 Months Ended
	Dec. 31, 2012
Earnings Per Share	'
	NOTE 3—EARNINGS PER SHARE
	As of February 3, 2011, the Company had 3,600,000 shares of common stock outstanding. The impact of the Company’s corporate conversion has been applied on a retrospective basis to January 1, 2010 to determine earnings per share for the years ended December 31, 2011 and 2010.
	As of December 31, 2012 and 2011, there were 21,206,121 and 21,202,614 issued and outstanding shares, respectively.
	Basic net income per share is computed by dividing the net earnings attributable to common shareholders by the weighted average number of common shares outstanding during the period.
	Diluted earnings per share is computed by dividing net income attributable to common shareholders by the weighted average number of common shares outstanding, increased to include the number of additional common shares that would have been outstanding if the dilutive potential common shares had been issued. Conversion or exercise of the potential common shares is not reflected in diluted earnings per share unless the effect is dilutive. The dilutive effect, if any, of outstanding common share equivalents is reflected in diluted earnings per share by application of the treasury stock method, as applicable. In determining whether outstanding stock options, restricted stock, and common stock warrants should be considered for their dilutive effect, the average market price of the common stock for the period has to exceed the exercise price of the outstanding common share equivalent.
	The following tables reconcile actual basic and diluted earnings per share for the years ended December 31, 2012, 2011 and 2010 (in thousands except per share data).
			2012			2011			2010
	Loss per share:
	Numerator:
	Net loss from continuing operations		$	(42,019	)	$	(33,774	)	$	(13,047	)
	Net loss from discontinued operations			(2,615	)		(5,424	)		(2,650	)
	Net loss		$	(44,634	)	$	(39,198	)	$	(15,697	)
	Basic loss per common share:
	Basic loss per share from continuing operations		$	(1.98	)	$	(1.75	)	$	(3.62	)
	Basic loss per share from discontinued operations			(0.12	)		(0.28	)		(0.74	)
	Basic loss per share available to common shareholders		$	(2.10	)	$	(2.03	)	$	(4.36	)
	Diluted loss per common share:
	Diluted loss per share from continuing operations(1)(2)		$	(1.98	)	$	(1.75	)	$	(3.62	)
	Diluted loss per share from discontinued operations(1)(2)			(0.12	)		(0.28	)		(0.74	)
	Diluted loss per share available to common shareholders(1)(2)		$	(2.10	)	$	(2.03	)	$	(4.36	)
	Denominator:
	Basic			21,205,747			19,352,063			3,600,000
	Diluted(1)(2)			21,205,747			19,352,063			3,600,000
	-1	The computation of diluted EPS did not include 487,314 options and 4,240,521 warrants for the year ended December 31, 2012, as the effect of their inclusion would have been anti-dilutive.
	-2	The computation of diluted EPS did not include 627,419 options, 4,240,521 warrants and 3,507 shares of restricted stock for the year ended December 31, 2011, as the effect of their inclusion would have been anti-dilutive.
	Pro Forma Earnings Per Share
	The pro forma earnings per share for the years ended December 31, 2011 and 2010, gives effect to (i) the consummation of the corporate conversion, pursuant to which all outstanding common and preferred limited liability company units (including all accrued but unpaid dividends thereon) and all principal and accrued interest outstanding under our promissory note in favor of IMPEX Enterprises, Ltd. were converted into 2,300,273 shares of our common stock; (ii) the issuance of 27,000 shares of common stock to two of our employees pursuant to the terms of each of their respective phantom stock agreements; and (iii) the issuance and conversion of a $30.0 million debenture into 1,272,727 shares of our common stock as if these events had been completed by January 2010.
	Unaudited pro forma net income attributable to common stockholders per share is computed using the weighted-average number of common shares outstanding, including the pro forma effect of (i) to (iii) above, as if such conversion occurred at January 1, 2010. The pro forma net income/(loss) reflects a reduction of interest expense of $178,000, net of tax and $3.1 million for the years ended December 31, 2011 and 2010, respectively, due to the conversion of a promissory note in favor of IMPEX Enterprises, Ltd. into shares of our common stock, which occurred prior to the closing of our initial public offering, and the conversion of our promissory note in favor of Branch Office of Skarbonka Sp. z o.o into a $30.0 million debenture, and the conversion of that $30.0 million debenture into shares of our common stock, which occurred immediately prior to the closing of our offering.
	The following tables reconcile pro forma basic and diluted earnings per share for the years ended December 31, 2011 and 2010 (in thousands except per share data).
			2011			2010
	Loss per share:
	Numerator:
	Net loss from continuing operations(1)(3)		$	(33,596	)	$	(9,986	)
	Net loss from discontinued operations(1)(3)			(5,424	)		(2,650	)
	Net loss(1)(3)		$	(39,020	)	$	(12,636	)
	Basic loss per common share:
	Basic loss per share from continuing operations		$	(1.74	)	$	(2.77	)
	Basic loss per share from discontinued operations			(0.28	)		(0.74	)
	Basic loss per share available to common shareholders		$	(2.02	)	$	(3.51	)
	Diluted loss per common share:
	Diluted loss per share from continuing operations(2)		$	(1.74	)	$	(2.77	)
	Diluted loss per share from discontinued operations(2)			(0.28	)		(0.74	)
	Diluted loss per share available to common shareholders(2)		$	(2.02	)	$	(3.51	)
	Denominator:
	Basic			19,352,063			3,600,000
	Diluted(2)			19,352,063			3,600,000
	-1	Reflects a reduction of interest expense $178,000, net of tax and $3.1 million for the years ended December 31, 2011 and 2010, respectively, due to the conversion of our promissory note in favor of IMPEX Enterprises, Ltd. into shares of our common stock, which occurred prior to the closing of our initial public offering, and the conversion of our promissory note in favor of Branch Office of Skarbonka Sp. z o.o into a $30.0 million debenture, and the conversion of that $30.0 million debenture into shares of our common stock, which occurred immediately prior to the closing of our initial public offering.
	-2	The computation of diluted EPS did not include 627,419 options, 4,240,521 warrants and 3,507 shares of restricted stock for the year ended December 31, 2011, as the effect of their inclusion would have been anti-dilutive.
	-3	For the pro forma period for the years ended December 31, 2011 and 2010, the results of the Company being treated for the pro forma presentation as a “C” corporation resulted in no impact to the consolidated balance sheet or statement of operations. The primary reasons for this are that the losses produce no current benefit and any net operating losses generated and other deferred assets (net of liabilities) at that time would have been fully reserved due to historical operating losses. The Company, therefore, has not recorded any pro forma tax provision.

Deferred_Costs

Deferred Costs	12 Months Ended
	Dec. 31, 2012
Deferred Costs	'
	NOTE 4—DEFERRED COSTS
	During 2010 and 2009, the Company paid lender protection insurance premiums which were capitalized and are being amortized over the life of the loans using the effective interest method. The balance of costs related to lender protection insurance premium included in deferred costs in the accompanying balance sheet at December 31, 2012 and 2011 was zero and approximately $1.1 million, respectively. The state surplus taxes on the lender protection insurance premiums are 3.6% to 4.0% of the premiums paid. These costs were also capitalized and amortized over the life of the loans using the effective interest method. The balance of costs related to state surplus taxes included in deferred costs in the accompanying balance sheets at December 31, 2012 and 2011 was zero and approximately $498,000, respectively.
	During 2010 and 2009, the Company paid loan closing fees related to the closing of certain financing agreements. These costs were being capitalized and amortized over the life of the credit facilities using the effective interest method. The balance of costs related to securing credit facilities included in deferred costs in the accompanying balance sheet at December 31, 2012 and 2011 was approximately $7,000 and $301,000, respectively.

Discontinued_Operations

Discontinued Operations	12 Months Ended
	Dec. 31, 2012
Discontinued Operations	'
	NOTE 5—DISCONTINUED OPERATIONS
	On October 25, 2013, the Company sold substantially all of the assets comprising its structured settlement business to Majestic Opco LLC for $12.0 million pursuant to an Asset Purchase Agreement. Fixed assets with a net carrying value of approximately $7,000 were sold. These fixed assets had a net carrying value of approximately $15,000 and $30,000 at December 31, 2012 and 2011, respectively. No structured settlement receivables were sold and no on-balance sheet liabilities were transferred in connection with the sale. This sale resulted in the recognition of a gain of $11.3 million in the fourth quarter of 2013.
	As a result of the sale, the Company retrospectively reclassified its structured settlement business operating results as discontinued operations, net of income taxes, in the accompanying Consolidated Statements of Operations for all periods presented and the Company has discontinued segment reporting. All other footnotes in these financial statements that were affected by this reclassification of discontinued operations have been updated accordingly.
	Operating results related to the Company’s structured settlement business are as follows:
		Year Ended December 31,
		2012			2011			2010
		(in thousands)
	Total income	$	13,995		$	11,933		$	9,530
	Total expenses		(16,610	)		(17,357	)		(12,180	)
	Loss before income taxes		(2,615	)		(5,424	)		(2,650	)
	Income tax expense		—			—			—
	Loss from discontinued operations, net of income taxes	$	(2,615	)	$	(5,424	)	$	(2,650	)

DepositsOther

Deposits-Other	12 Months Ended
	Dec. 31, 2012
Deposits-Other	'
	NOTE 6—DEPOSITS—OTHER
	The Company has provided three $100,000 deposits and a $125,000 deposit to various states as a requirement for applying for and obtaining life settlement licenses in those states. The deposits are held by the state or custodians of the state and bear interest at market rates. Interest is generally distributed to the Company on a quarterly basis. Interest income of approximately $3,500, $3,000 and $3,000 has been recognized on these deposits for the years ended December 31, 2012, 2011 and 2010, respectively. Amount deposited with various states was $425,000 for the years ended December 31, 2012 and 2011.
	The Company has purchased surety bonds in various amounts as a requirement for applying for and obtaining life settlement licenses in certain states. As of December 31, 2012, the Company has surety bonds in seven states which total $850,000 and expire in May 2013. The surety bonds were originally backed by a letter of credit from a national bank in the amount of $850,000, which was collateralized by certificates of deposit with the bank in the amount of $895,000, including accrued interest. As the letter of credit matured on May 8, 2012, the surety bond underwriter drew on the facility totaling $850,000. The certificates of deposit were not renewed and the amounts are currently being held with the underwriter as a deposit as collateral for the surety bonds. The Company expects to continue to maintain the deposit with the surety bond underwriter as collateral for the foreseeable future.
	As of December 31, 2012 and 2011 the Company had an additional deposit of $250,000 in connection with its Cedar Lane credit facility. The Company also had approximately $1.3 million in deposits held with various credit facilities for potential financing opportunities at December 31, 2012 and approximately $78,000 and $86,000 in miscellaneous deposits recorded in deposits-other in the accompanying balance sheet at December 31, 2012 and 2011, respectively.

Fixed_Assets

Fixed Assets	12 Months Ended
	Dec. 31, 2012
Fixed Assets	'
	NOTE 7—FIXED ASSETS
	Fixed assets at December 31, 2012 and 2011 are summarized as follows (in thousands):
		For the Year Ended December 31,
		2012		2011
	Computer software and equipment	$	2,288	$	2,222
	Furniture, fixtures and equipment		670		1,046
	Leasehold improvements		773		666
			3,731		3,934
	Less: Accumulated depreciation		3,514		3,379
	Fixed assets, net	$	217	$	555
	Depreciation expense for the years ended December 31, 2012, 2011 and 2010 was approximately $350,000, $573,000 and $669,000, respectively, the Company also recorded $9,000 related to fixed asset write offs during 2012 and these are included in selling, general, and administrative expenses in the accompanying consolidated statement of income. During 2012 and 2011, the Company recorded $11,000 and $10,000, respectively, in amortization expense related to its domain name which was acquired in 2011 (See Note 2) which is included in selling, general and administrative expenses in the accompanying consolidated statement of income.

Gain_on_Maturities_of_Life_Set

Gain on Maturities of Life Settlements With Subrogation Rights	12 Months Ended
	Dec. 31, 2012
Gain on Maturities of Life Settlements With Subrogation Rights	'
	NOTE 8—GAIN ON MATURITIES OF LIFE SETTLEMENTS WITH SUBROGATION RIGHTS
	During 2011, two individuals covered under policies which were subject to subrogation claims unexpectedly passed away. The Company collected the death benefit on one of these policies in the amount of $3.5 million during the third quarter of 2011. The other was the result of an accidental death and the $10.0 million face value of the policy was larger than average.
	The Company accounted for the maturities of each of these polices as contingent gains in accordance with ASC 450, Contingencies and recognized $3.2 million in death benefits net of subrogation expenses of $312,000 in its consolidated statement of operations during the year ended December 31, 2011. During 2012, the Company negotiated a settlement in respect of the larger policy and collected approximately $6.1 million, net of subrogation expenses of $910,000, and has reported a gain in accordance with ASC 450, Contingencies in its consolidated statement of operations for the year ended December 31, 2012 as all contingencies were resolved.
	The Company believes these contingent gains to be unpredictable because the lender protection insurer can discontinue paying the premiums necessary to keep a policy subject to subrogation and salvage claims in force at any time and the amount of the lender protection insurer’s subrogation and salvage claim on any individual life insurance policy could equal the cash flow received by the Company with respect to any such policy. No expectations for similar gains in the future should be inferred from the events occurring in the third quarter of 2011 and second quarter of 2012.

Investment_Securities_Availabl

Investment Securities Available for Sale	12 Months Ended
	Dec. 31, 2012
Investment Securities Available for Sale	'
	NOTE 9—INVESTMENT SECURITIES AVAILABLE FOR SALE
	The amortized cost and estimated fair values of securities available for sale at December 31, 2012 are as follows (in thousands):
		December 31, 2012
	Description of Securities	Amortized		Gross  Unrealized			Gross  Unrealized			Estimated
		Cost		Gains			Losses			Fair  Value
	Corporate bonds	$	8,275		25		$	(67	)	$	8,233
	Government bonds		3,524		76			—			3,600
	Other bonds		310		4			—			314
	Total available for sale securities	$	12,109	$	105		$	(67	)	$	12,147
	The amortized cost and estimated fair values of securities available for sale at December 31, 2011 are as follows (in thousands):
		December 31, 2011
	Description of Securities	Amortized		Gross  Unrealized			Gross  Unrealized			Estimated
		Cost		Gains			Losses			Fair  Value
	Corporate bonds	$	41,697		32		$	(127	)	$	41,602
	Government bonds		14,789		39			(9	)		14,819
	Other bonds		821		—			—			821
	Total available for sale securities	$	57,307	$	71		$	(136	)	$	57,242
	The scheduled maturities of securities at December 31, 2012, by contractual maturity, are shown below. Expected maturities may differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties (in thousands).
		December 31, 2012
		Amortized		Estimated
		Cost		Fair  Value
	Due in one year or less	$	6,172	$	6,197
	Due after one year but less than five years		2,413		2,350
	Due after five years but less than ten years		3,524		3,600
	Total available for sale securities	$	12,109	$	12,147
	The scheduled maturities of securities at December 31, 2011, by contractual maturity, are shown below. Expected maturities may differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties (in thousands).
		December 31, 2011
		Amortized		Estimated
		Cost		Fair  Value
	Due in one year or less	$	25,904	$	25,892
	Due after one year but less than five years		20,243		20,160
	Due after five years but less than ten years		11,160		11,190
	Total available for sale securities	$	57,307	$	57,242
	Information pertaining to securities with gross unrealized losses at December 31, 2012, aggregated by investment category and length of time that the individual securities have been in a continuous unrealized loss position is as follows (in thousands):
		December 31, 2012
		Less than 12 Months					12 Months or More					Total
	Description of Securities	Estimated		Unrealized			Estimated			Unrealized		Estimated		Unrealized
		Fair  Value		Loss			Fair  Value			Loss		Fair  Value		Loss
	Corporate bonds		1,932		(67	)		—			—		1,932		(67	)
	Government bonds		—		—			—			—		—		—
	Other bonds		—		—			—			—		—		—
	Total available for sale securities	$	1,932	$	(67	)	$	—		$	—	$	1,932	$	(67	)
	Information pertaining to securities with gross unrealized losses at December 31, 2011, aggregated by investment category and length of time that the individual securities have been in a continuous unrealized loss position is as follows (in thousands):
		December 31, 2011
		Less than 12 Months					12 Months or More					Total
	Description of Securities	Estimated		Unrealized			Estimated			Unrealized		Estimated		Unrealized
		Fair  Value		Loss			Fair  Value			Loss		Fair  Value		Loss
	Corporate bonds		26,051		(127	)							26,051		(127	)
	Government bonds		5,927		(9	)							5,927		(9	)
	Other bonds		—		—								—		—
	Total available for sale securities	$	31,978	$	(136	)	$	—		$	—	$	31,978	$	(136	)
	Proceeds from sale and prepayment of investment securities available for sale during the year ended December 31, 2012 amounted to approximately $79.8 million, resulting in gross realized gains of approximately $53,000.
	The Company monitors its investment securities available for sale for other-than-temporary impairment, or OTTI, on an individual security basis considering numerous factors, including the Company’s intent to sell securities in an unrealized loss position, the likelihood that the Company will be required to sell these securities before an anticipated recovery in value, the length of time and extent to which fair value has been less than amortized cost, the historical and implied volatility of the fair value of the security, failure of the issuer of the security to make scheduled interest or principal payments, any changes to the rating of the security by a rating agency and recoveries or additional declines in fair value subsequent to the balance sheet date. The relative significance of each of these factors varies depending on the circumstances related to each security.
	At December 31, 2012 and 2011, 2 and 31 securities were in unrealized loss positions, respectively. The amount of unrealized losses related to all of these securities was considered insignificant, totaling approximately $67,000 and $136,000 for December 31, 2012 and 2011, respectively.

Loans_Receivable

Loans Receivable	12 Months Ended
	Dec. 31, 2012
Loans Receivable	'
	NOTE 10—LOANS RECEIVABLE
	A summary of loans receivables at December 31, 2012 and 2011 is as follows (in thousands):
			2012			2011
	Loan principal balance		$	5,255		$	31,264
	Loan origination fees, net			1,157			8,307
	Loan impairment valuation			(3,368	)		(10,195	)
	Loans receivable, net		$	3,044		$	29,376
	The Company also had interest receivable, net which consisted of approximately $727,000 and $5.3 million in accrued and unpaid interest at December 31, 2012 and 2011, respectively and a related impairment valuation of approximately $947,000 and $1.9 million, respectively.
	An analysis of the changes in loans receivable principal balance during the years ended December 31, 2012 and 2011 is as follows (in thousands):
			2012			2011
	Loan principal balance, beginning		$	31,264		$	76,939
	Loan originations			—			18,385
	Subsequent year premiums paid, net of reimbursement			—			339
	Loan write-offs			—			(3,058	)
	Loan payoffs			(17,116	)		(55,277	)
	Loans transferred to investments in life settlements			(8,893	)		(6,064	)
	Loan principal balance, ending		$	5,255		$	31,264
	Loan origination fees include origination fees that are payable to the Company on the date the loan matures. The loan origination fees are reduced by any direct costs that are directly related to the creation of the loan receivable in accordance with ASC 310-20, Receivables—Nonrefundable Fees and Other Costs, and the net balance is accreted over the life of the loan using the effective interest method. Discounts include purchase discounts, net of accretion, which are attributable to loans that were acquired from affiliated companies under common ownership and control.
	In accordance with ASC 310, Receivables, the Company specifically evaluates all loans for impairment based on the fair value of the underlying policies as foreclosure is considered probable. The loans are considered to be collateral dependent as the repayment of the loans is expected to be provided by the underlying policies. See Note 15.
	An analysis of the loan impairment valuation for the year ended December 31, 2012 is as follows (in thousands):
			Loans			Interest			Total
			Receivable			Receivable
	Balance at beginning of period		$	10,195		$	1,920		$	12,115
	Provision for loan losses			437			78			515
	Charge-offs			(7,264	)		(1,051	)		(8,315	)
	Balance at end of period		$	3,368		$	947		$	4,315
	An analysis of the loan impairment valuation for the year ended December 31, 2011 is as follows (in thousands):
			Loans			Interest			Total
			Receivable			Receivable
	Balance at beginning of period		$	7,176		$	1,340		$	8,516
	Provision for loan losses			6,793			796			7,589
	Charge-offs			(3,774	)		(216	)		(3,990	)
	Balance at end of period		$	10,195		$	1,920		$	12,115
	An analysis of the loan impairment valuation for the year ended December 31, 2010 is as follows (in thousands):
			Loans			Interest			Total
			Receivable			Receivable
	Balance at beginning of period		$	11,599		$	1,788		$	13,387
	Provision for loan losses			2,276			2,200			4,476
	Charge-offs			(8,205	)		(2,647	)		(10,852	)
	Recoveries			1,506			—			1,506
	Balance at end of period		$	7,176		$	1,341		$	8,517
	An analysis of the allowance for loan losses and recorded investment in loans by loan type for the year ended December 31, 2012 is as follows (in thousands):
			Uninsured			Insured			Total
			Loans			Loans
	Loan impairment valuation
	Balance at beginning of period		$	6,914		$	3,281		$	10,195
	Provision for loan losses			—			437			437
	Charge-offs			(4,222	)		(3,042	)		(7,264	)
	Ending balance		$	2,692		$	676		$	3,368
	Ending balance: individually evaluated for impairment		$	2,692		$	676		$	3,368
	An analysis of the allowance for loan losses and recorded investment in loans by loan type for the year ended December 31, 2011 is as follows (in thousands):
			Uninsured			Insured			Total
			Loans			Loans
	Loan impairment valuation
	Balance at beginning of period		$	888		$	6,288		$	7,176
	Provision for loan losses			6,774			19			6,793
	Charge-offs			(748	)		(3,026	)		(3,774	)
	Ending balance		$	6,914		$	3,281		$	10,195
	Ending balance: individually evaluated for impairment		$	6,914		$	3,281		$	10,195
	All loans were individually evaluated for impairment as of December 31, 2012 and 2011. There were no loans collectively evaluated for impairment and there were no loans acquired with deteriorated credit quality. See Note 15.
	An analysis of the allowance for loan losses and recorded investment in loans by loan type for the year ended December 31, 2010 is as follows (in thousands):
			Uninsured			Insured			Total
			Loans			Loans
Loan impairment valuation
Balance at beginning of period		$	1,983		$	9,616		$	11,599
Provision for loan losses			—			2,276			2,276
Charge-offs			(2,601	)		(5,604	)		(8,205	)
Recoveries			1,506			—			1,506
Ending balance		$	888		$	6,288		$	7,176
Ending balance: individually evaluated for impairment		$	888		$	6,288		$	7,176
An analysis of the credit quality indicators by loan type at December 31, 2012 is presented in the following table (dollars in thousands):
		Uninsured						Insured(1)
S&P Designation		Unpaid			Percent			Unpaid			Percent
		Principal						Principal
		Balance						Balance
AAA		$	—			0	%	$	—			0	%
AA+			—			0	%		—			0	%
AA			—			0	%		—			0	%
AA-			2,072			43.58	%		408			81.44	%
A+			2,548			53.97	%		93			18.56	%
A1			—			0	%		—			0	%
A			—			0	%		—			0	%
BB-			134			2.45	%		—			0	%
Total		$	4,754			100	%	$	501			100	%
An analysis of the credit quality indicators by loan type at December 31, 2011 is presented in the following table (dollars in thousands):
		Uninsured						Insured(1)
S&P Designation		Unpaid			Percent			Unpaid			Percent
		Principal						Principal
		Balance						Balance
AAA		$	—			0	%	$	—			0	%
AA+			694			5.09	%		222			1.26	%
AA			—			0	%		—			0	%
AA-			6,558			48.05	%		9,085			51.57	%
A+			3,060			22.42	%		1,287			7.31	%
A1			—			0	%		—			0	%
A			3,336			24.44	%		7,022			39.86	%
BB-			—			0	%		—			0	%
Total		$	13,648			100	%	$	17,616			100	%
-1	All of the Company’s insured loans have lender protection coverage with Lexington Insurance Company. As of December 31, 2012, Lexington had a financial strength rating of “A” with a stable outlook by Standard & Poors (S&P).
A summary of our investment in impaired loans at December 31, 2012 and 2011 is as follows (in thousands):
		2012			2011
Loan receivable, net		$	3,011		$	17,424
Interest receivable, net			724			6,799
Investment in impaired loans		$	3,735		$	24,223
An analysis of impaired loans with and without a related allowance at December 31, 2012 is presented in the following table by loan type (in thousands):
		Recorded			Unpaid			Related			Average			Interest
		Investment			Principal			Allowance			Recorded			Income
					Balance						Investment			Recognized
With no related allowance recorded:
Uninsured Loans		$	—		$	—		$	—		$	—		$	—
Insured Loans			—			—			—			—			—
With an allowance recorded:
Uninsured Loans			3,623			4,735			3,413			6,887			1,444
Insured Loans			112			501			902			7,091			227
Total Impaired Loans		$	3,735		$	5,236		$	4,315		$	13,978		$	1,671
An analysis of impaired loans with and without a related allowance at December 31, 2011 is presented in the following table by loan type (in thousands):
		Recorded			Unpaid			Related			Average			Interest
		Investment			Principal			Allowance			Recorded			Income
					Balance						Investment			Recognized
With no related allowance recorded:
Uninsured Loans		$	—		$	—		$	—		$	—		$	—
Insured Loans			—			—			—			—			—
With an allowance recorded:
Uninsured Loans			10,153			13,628			6,894			6,764			1,684
Insured Loans			14,070			10,391			3,301			24,847			3,195
Total Impaired Loans		$	24,223		$	24,019		$	10,195		$	31,611		$	4,879
The amount of the investment in impaired loans that had an allowance as of December 31, 2012 and 2011 was $3.7 million and $24.2 million, respectively. The amount of the investment in impaired loans that did not have an allowance was zero as of December 31, 2012 and 2011. The average investment in impaired loans during the years ended December 31, 2012 and 2011 was approximately $14.0 million and $31.6 million, respectively. The interest recognized on the impaired loans was approximately $1.7 million and $4.9 million for the years ended December 31, 2012 and 2011, respectively.
An analysis of past due at December 31, 2012 is presented in the following table by loan type (in thousands):
		30-59 Days			60-89 Days			Greater Than			Total
		Past Due			Past Due			90 Days			Past  Due
								Past Due
Uninsured Loans		$	—		$	—		$	599		$	599
Insured Loans			—			—			315			315
Total		$	—		$	—		$	914		$	914
An analysis of past due at December 31, 2011 is presented in the following table by loan type (in thousands):
		30-59 Days			60-89 Days			Greater Than			Total
		Past Due			Past Due			90  Days			Past  Due
								Past Due
Uninsured Loans		$	—		$	—		$	599		$	599
Insured Loans			1,570			—			—			1,570
Total		$	1,570		$	—		$	599		$	2,169
During the years ended December 31, 2012 and 2011, the Company originated zero and 58 loans receivable with a principal balance of zero and approximately $18.3 million, respectively. Loan interest receivable at December 31, 2012 and 2011 was approximately $727,000 and $5.3 million net of impairment of approximately $947,000, and $1.9 million, respectively. As of December 31, 2012, there were 22 loans with the average loan balance of approximately $181,000.
The allowance for interest receivable represents interest that is not expected to be collected. At the time the interest income was recognized and at the end of the reporting period in which the interest income was recognized, the interest income was believed to be collectible. The Company continually reassesses whether interest income is collectible in conjunction with its loan impairment analysis. The allowance for interest receivable represents interest that was determined to be uncollectible during a reporting period subsequent to the initial recognition of the interest income. As of December 31, 2012, the loan portfolio consisted of loans with original maturities of 2 to 4 years and variable interest rates at an average interest rate of 12.98%. During the year ended December 31, 2012 and 2011, 85 and 79 of our loans were paid off with proceeds of lender protection insurance totaling approximately $25.6 million and $24.0 million, respectively, of which approximately $16.7 million, and $15.6 million was for the principal of the loans and approximately $6.5 million and $6.0 million was for accrued interest, respectively, and accreted origination fees of approximately $7.1 million and $6.6 million, respectively. The Company had an impairment associated with these loans of approximately $4.9 million and $4.6 million, respectively. We recognized a loss of approximately $29,000 and $14,000 on these transactions, respectively.
Our premium finance borrowers were generally referred to us through independent insurance agents and brokers although, prior to January 2009, we originated some premium finance loans that were sold by life insurance agents that we employed. In certain of these instances, the life insurance agents employed by the Company worked with external brokers and agents to obtain insurance for policyholders with the Company extending a premium finance loan to a borrower. We refer to these instances as the “retail non-seminar business,” which began in December 2006 and was discontinued in January 2009. In total, the Company originated 114 premium finance loans as part of the retail non-seminar business. As of December 31, 2012, the Company had 12 policies in its portfolio that once served as collateral for premium finance loans derived through the retail non-seminar business.
During the year ended December 31, 2012 two loans were paid off with proceeds from trusts totaling $1.0 million of which $686,000 was for principal of the loans and $280,000 was for accrued interest, and accreted origination fees of $262,000. The Company had an impairment associated with these loans of $101,000 and recognized a loss of $96,000.

Origination_Fees

Origination Fees	12 Months Ended
	Dec. 31, 2012
Origination Fees	'
	NOTE 11—ORIGINATION FEES
	A summary of the balances of origination fees that are included in loans receivable in the consolidated balance sheet as of December 31 is as follows (in thousands):
		2012			2011
	Loan origination fees gross	$	1,334		$	10,844
	Un-accreted origination fees		(190	)		(2,666	)
	Amortized loan originations costs		13			129
		$	1,157		$	8,307
	Loan origination fees are fees payable to the Company on the date of loan maturity or repayment. Loan origination costs are deferred costs that are directly related to the creation of the loan receivable.

StockBased_Compensation

Stock-Based Compensation	12 Months Ended
	Dec. 31, 2012
Stock-Based Compensation	'
	NOTE 12—STOCK-BASED COMPENSATION
	In connection with the Company’s initial public offering, the Company established the Imperial Holdings 2011 Omnibus Incentive Plan (the “Omnibus Plan”). The purpose of the Omnibus Plan is to attract, retain and motivate participating employees and to attract and retain well-qualified individuals to serve as members of the board of directors, consultants and advisors through the use of incentives based upon the value of our common stock. Awards under the Omnibus Plan may consist of incentive awards, stock options, stock appreciation rights, performance shares, performance units, and shares of common stock, restricted stock, restricted stock units or other stock-based awards as determined by the compensation committee. The Omnibus Plan provides that an aggregate of 1,200,000 shares of common stock are reserved for issuance under the Omnibus Plan, subject to adjustment as provided in the Omnibus Plan. The Company recognized approximately $305,000 and $1.5 million in stock-based compensation expense relating to stock options it granted under the Omnibus Plan during the years ended December 31, 2012 and 2011, respectively. The Company incurred additional stock-based compensation expense of approximately $290,000 related to the conversion of two phantom stock agreements it had with two employees into 27,000 shares of common stock in connection with its corporate conversion in the first quarter of 2011 and approximately $4,000 and $34,000 in stock-based compensation relating to restricted stock granted to its board of directors during the years ended December 31, 2012 and 2011, respectively. Prior to our initial public offering, the Company had no equity compensation plan.
	Options
	As of December 31, 2012, options to purchase 487,414 shares of common stock were outstanding and unexercised under the Omnibus Plan at a weighted average exercise price of $10.75 per share. All of the outstanding options expire seven years after the date of grant and were granted with a strike price at $10.75 which was the offering price of our initial public offering or fair market value (closing price) of the stock on the date of grant and vest over three years from the date of issue.
	The Company has used the Black-Scholes model to calculate fair values of options awarded. This model requires assumptions as to expected volatility, dividends, terms, and risk free rates. Assumptions used for the periods covered herein, are outlined in the table below:
		Year Ended
		December 31, 2011
	Expected Volatility		54.18% – 54.23	%
	Expected Dividend		0	%
	Expected Term in Years		4.5
	Risk Free Rate		2.16% – 2.29	%
	The Company commenced its initial public offering of common stock in February 2011. Accordingly, there was no public market for the Company’s common stock prior to this date. Therefore, the Company identified comparable public entities and used the average volatility of those entities to reasonably estimate its expected volatility. The Company does not expect to pay dividends on its common stock for the foreseeable future. Expected term is the period of time over which the options granted are expected to remain outstanding and is based on the simplified method as outlined in the SEC Staff Accounting Bulletin 110. The Company will continue to estimate expected lives based on the simplified method until reliable historical data becomes available. The risk free rate is based on the U.S Treasury yield curve in effect at the time of grant for the appropriate life of each option.
	The following table presents the activity of the Company’s outstanding stock options of common stock for the year ended December 31, 2012:
	Common Stock Options	Number  of			Weighted		Weighted		Aggregate
		Shares			Average  Price		Average		Intrinsic
					per Share		Remaining		Value
							Contractual
							Term
	Options outstanding, December 31, 2011		627,419			—		—	$	—
	Options granted		—		$	10.75		6.11	$	—
	Options exercised		—			—		—		—
	Options forfeited		(140,105	)		10.75		—		—
	Options expired		—			—		—		—
	Options outstanding, December 31, 2012		487,314		$	10.75		5.11	$	—
	Exercisable at December 31, 2012		287,988			10.74		5.11	$	—
	Unvested at December 31, 2012		199,326		$	10.75		5.11	$	—
	As of December 31, 2012, all outstanding stock options had an exercise price above the fair market value of the common stock on that date.
	The remaining unamortized amounts of approximately $336,000 and $21,000 will be expensed during 2013 and 2014, respectively.
	Restricted Stock
	3,507 shares of restricted stock granted to our directors under the Omnibus Plan subject to a one year vesting schedule commencing on the date of grant vested during the year ended December 31, 2012. The fair value of the unvested restricted stock was valued at $38,000 based on the closing price of the Company’s shares on the grant date.
	The following table presents the activity of the Company’s unvested restricted common shares for the year ended December 31, 2012:
	Common Unvested Shares	Number of
		Shares
	Outstanding December 31, 2011		3,507
	Granted		—
	Vested		(3,507	)
	Forfeited		—
	Outstanding December 31, 2012		—
	There were no restricted stock awards granted during the year ended December 31, 2012.

Structured_Settlements

Structured Settlements	12 Months Ended
	Dec. 31, 2012
Structured Settlements	'
	NOTE 13—STRUCTURED SETTLEMENTS
	The balances of the Company’s structured settlements are as follows (in thousands):
		December 31,		December 31,
		2012		2011
	Structured settlements—at cost	$	1,574	$	1,553
	Structured settlements—at fair value		1,680		12,376
	Structured settlements receivable, net	$	3,254	$	13,929
	All structured settlements that were acquired subsequent to July 1, 2010 were marked to fair value. Structured settlements that were acquired prior to July 1, 2010 were recorded at cost. During 2011, the Company reacquired certain structured settlements that were originally acquired prior to July 1, 2010 and the Company continued to carry those structured settlements at cost upon reacquisition.
	Certain financing arrangements for the Company’s structured settlements are described below:
	Life-Contingent Structured Settlement Facility
	On the same day the Omnibus Termination Agreement was executed, December 30, 2011, Washington Square Financial, LLC (“WSF”) entered into a forward purchase and sale agreement (“PSA”) to sell up to $40.0 million of life contingent structured settlement receivables to Compass Settlements LLC (“Compass”), an entity managed by Beacon Annuity Fund, LP (“Beacon”). Subject to predetermined eligibility criteria and on-going funding conditions, Compass committed, in increments of $5.0 million, up to $40.0 million to purchase life-contingent structured settlement receivables from WSF. The PSA obligates WSF to sell the life-contingent structured settlement receivables it originates to Compass on an exclusive basis for twenty-four months, subject to Compass maintaining certain purchase commitment levels. Additionally, the Company has agreed to guaranty WSF’s obligation to repurchase any ineligible receivables sold under the PSA and certain other related obligations.
	For the year ended December 31, 2012, the Company recognized income from the sale of 380 structured settlement transactions under this facility generating income of approximately $2.6 million recorded as gain on sale of structured settlements in the attached financial statements. Of the 380 structured transactions, 107 were previously recorded at the market rate generating income of approximately $1.1 million and the change in value was recorded as an unrealized change in fair value on the financial statements presented for the year ended December 31, 2011 and 73 were previously recorded at the market rate generating income of approximately $712,000 with the change in value recorded as an unrealized change in fair value on the financial statements presented for the year ended December 31, 2012.
	The Company also realized income of approximately $72,000 that was recorded as an unrealized change in fair value during the year ended December 31, 2012 on structured settlements that are intended for sale to Compass.
	8.39% Fixed Rate Asset Backed Variable Funding Notes
	Imperial Settlements Financing 2010, LLC (“ISF 2010”) was formed as an affiliate of the Company to serve as a special purpose financing entity to allow the Company to sell structured settlements and assignable annuities, which are referred to as receivables, to ISF 2010 and ISF 2010 to borrow against certain of its receivables to provide ISF 2010 liquidity. ISF 2010 is a non-consolidated special purpose financing entity. On September 24, 2010, ISF 2010 entered into an arrangement to obtain up to $50 million in financing. Under this arrangement, a subsidiary of Partner Re, Ltd. (the “noteholder”) became the initial holder of ISF 2010’s 8.39% Fixed Rate Asset Backed Variable Funding Note issued under a master trust indenture and related indenture supplement (collectively, the “Indenture”) pursuant to which the noteholder has committed to advance ISF 2010 up to $50 million upon the terms and conditions set forth in the Indenture. The note is secured by the receivables that ISF 2010 acquires from the Company from time to time. The note is due and payable on or before January 1, 2057, but principal and interest must be repaid pursuant to a schedule of fixed payments from the receivables that secure the notes. The arrangement generally has a concentration limit of 15% for the providers of the receivables that secure the notes. Wilmington Trust is the collateral trustee. As of December 31, 2012 and December 31, 2011, the balance of the notes outstanding on the special purpose financing entity’s books was $43.2 million and $20.6 million, respectively.
	Upon the occurrence of certain events of default under the Indenture, all amounts due under the note are automatically accelerated. The Company’s maximum exposure related to ISF 2010 is limited to 5% of the dollar value of the ISF 2010 transactions, which is held back by ISF 2010 at the time of sale, and is designed to absorb potential losses in collecting the receivables. The obligations of ISF 2010 are non-recourse to the Company. The total funds held back by ISF 2010 as of December 30, 2012 and December 31, 2011 were approximately $2.2 million and $1.0 million and are included in investment in affiliate in the accompanying consolidated balance sheet.
	During the years ended December 31, 2012 and 2011, the Company sold 565 and 485 term certain structured settlements, respectively, 181 and 12 of which were originated in 2011 and 2010, respectively, generating income of approximately of $3.2 million and $129,000, respectively, which was recorded as an unrealized change in fair value of structured settlements in 2011 and 2010, respectively. The Company originated and sold 384 and 307 non-life contingent structured settlement transactions under this facility generating income of approximately $4.9 million and $3.8 million, respectively, which was recorded as a realized gain on sale of structured settlements during the years ended December 31, 2012 and 2011, respectively. During the year ended December 31, 2011, the Company also had three SPV’s that pledged 38 non-life contingent structured settlement transactions under this facility generating income of approximately $32,000, which was recorded as an unrealized change in the fail value of structured settlements. The Company also realized income of approximately $559,000 and $3.4 million that was recorded as an unrealized change in fair value during the years ended December 31, 2012 and 2011, respectively, on structured settlements that are intended for sale to ISF 2010. The Company receives 95% of the purchase price in cash from ISF 2010. Of the remaining 5%, which represents the Company’s interest in ISF 2010, 1% is required to be contributed to a cash reserve account held by Wilmington Trust. In addition, the Company also purchased and sold 131 non-life contingent structure transactions generating income of $64,000 that was recorded as a realized gain on sale of structured settlements in 2011.
	When the transfer of the receivables occurs, the Company records the transaction as a sale and derecognizes the asset from its balance sheet. In determining whether the Company is the primary beneficiary of the trust, the Company concluded that it does not control the servicing, which is the activity which most significantly impacts the trust performance. An independent third party is the master servicer and they can only be replaced by the control partner, which is the entity that holds the majority of the outstanding notes. The Company is a back-up servicer which is insignificant to ISF 2010 performance.
	Washington Square Financial 3rd Party Sales
	For the year ended December 31, 2012, in addition to its intended sales to Compass and ISF 2010, the Company also sold 282 deals to unrelated parties for $6.7 million generating income of $4.0 million recorded as a gain on sale of structured settlements and $322,000 that was previously recorded as an unrealized change in fair value.
	For the years ended December 31, 2012 and 2011, respectively, the Company recorded income of approximately $158,000 and $135,000, respectively, that was recorded as unrealized change in fair value on structured settlements that are intended for sale to other parties
	Total income recognized through accretion of interest income on structured settlement transactions for the years ended December 31, 2012 and 2011, respectively, was approximately $329,000 and $552,000, respectively. Such income was recognized in interest income in the accompanying consolidated statement of operations. The receivables at December 31, 2012 and December 31, 2011 were approximately $3.3 million and $13.9 million, respectively, net of a discount of approximately $4.6 million and $27.8 million, respectively.
	The Company recognized a gain on the sale of approximately $215,000 through the collection of holdback funds during the year ended December 31, 2011. The holdback is equal to the aggregate amount of payments due and payable by the annuity holder within 90 days after the date of sale. These amounts are held back in accordance with the purchase agreement and were released upon proof of collections by the Company acting as servicer.

Investment_in_Life_Settlements

Investment in Life Settlements (Life Insurance Policies)	12 Months Ended
	Dec. 31, 2012
Investment in Life Settlements (Life Insurance Policies)	'
	NOTE 14—INVESTMENT IN LIFE SETTLEMENTS (LIFE INSURANCE POLICIES)
	During the years ended December 31, 2012 and 2011, the Company acquired life insurance policies as a result of certain of the Company’s borrowers defaulting on premium finance loans and relinquishing the underlying policy to the Company in exchange for being released from further obligations under the loan. In 2011, the Company also began acquiring life insurance policies in the secondary and tertiary markets. The Company elected to account for these policies using the fair value method in accordance with ASC 325-30-50 Investments – Other – Investment in Insurance Contracts. Under the fair value method, the Company recognizes the initial investment at the purchase price. For policies that were relinquished in satisfaction of premium finance loans at maturity, this is the loan carrying value and for policies purchased in the secondary or tertiary markets, this is the amount of cash outlay at the time of purchase. At each reporting period, the Company re-measures the investment at fair value in its entirety and recognizes changes in fair value in earnings in the period in which the changes occur. See Note 15.
	As of December 31, 2012 and 2011, the Company owned 214 and 190 policies, respectively, with an aggregate estimated fair value of investments in life settlements of $113.4 million and $90.9 million, respectively.
	The weighted average life expectancy calculated based on death benefit of insureds in the policies owned by the Company at December 31, 2012 was 10.6 years. The following table describes the Company’s investment in life settlements as of December 31, 2012 (dollars in thousands):
	Remaining Life Expectancy (In Years)	Number of		Fair		Face
		Life  Settlement		Value		Value
		Contracts
	0 - 1		—	$	—	$	—
	2-Jan		—		—		—
	3-Feb		1		1,222		2,500
	4-Mar		4		3,319		11,450
	5-Apr		7		11,375		30,950
	Thereafter		202		97,525		1,028,256
	Total		214		113,441		1,073,156
	The weighted average life expectancy calculated based on death benefit of insureds in the policies owned by the Company at December 31, 2011 was 10.6 years. The following table describes the Company’s investment in life settlements as of December 31, 2011 (in thousands):
	Remaining Life Expectancy (In Years)	Number of		Fair		Face
		Life  Settlement		Value		Value
		Contracts
	0 – 1		—	$	—	$	—
	1 – 2		1		3,033		5,000
	2 – 3		2		2,484		4,500
	3 – 4		4		7,084		20,200
	4 – 5		3		2,357		7,950
	Thereafter		180		75,959		897,816
	Total		190		90,917		935,466
	Premiums to be paid for each of the five succeeding fiscal years to keep the life insurance policies in force as of December 31, 2012, are as follows (in thousands):
	2013		27,703
	2014		26,281
	2015		26,533
	2016		26,978
	2017		28,002
	Thereafter		324,884
		$	460,381
	The amount of $460.4 million noted above represents the estimated total future premium payments required to keep the life insurance policies in force during the life expectancies of all the underlying insured lives and does not give effect to projected receipt of death benefits. The Company has not yet experienced the mortalities of insureds or received the resulting death benefits from our life insurance policies (other than from policies with subrogation rights that are not reported on our balance sheet and that are considered contingent assets). The estimated total future premium payments could increase or decrease significantly to the extent that actual mortalities of insureds differs from the estimated life expectancies.

Fair_Value_Measurements

Fair Value Measurements	12 Months Ended
	Dec. 31, 2012
Fair Value Measurements	'
	NOTE 15—FAIR VALUE MEASUREMENTS
	We carry investments in life and structured settlements at fair value in the consolidated balance sheets. Fair value is defined as an exit price, representing the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. As such, fair value is a market based measurement that should be determined based on assumptions that market participants would use in pricing an asset or liability. Fair value measurements are classified based on the following fair value hierarchy:
	Level 1—Valuation is based on unadjusted quoted prices in active markets for identical assets and liabilities that are accessible at the reporting date. Since valuations are based on quoted prices that are readily and regularly available in an active market, valuation of these products does not entail a significant degree of judgment.
	Level 2 —Valuation is determined from pricing inputs that are other than quoted prices in active markets that are either directly or indirectly observable as of the reporting date. Observable inputs include quoted prices for similar assets or liabilities in active markets, quoted prices for identical or similar assets or liabilities in markets that are not active, and interest rates and yield curves that are observable at commonly quoted intervals.
	Level 3—Valuation is based on inputs that are both significant to the fair value measurement and unobservable. Level 3 inputs include situations where there is little, if any, market activity for the financial instrument. The inputs into the determination of fair value generally require significant management judgment or estimation.
	Assets and liabilities measured at fair value on a recurring basis
	The balances of the Company’s assets measured at fair value on a recurring basis as of December 31, 2012, are as follows (in thousands):
		Level 1			Level 2			Level 3			Total
											Fair Value
	Assets:
	Investment in life settlements	$	—		$	—		$	113,441		$	113,441
	Structured settlement receivables		—			—			1,680			1,680
	Investment securities available for sale		—			12,147			—			12,147
		$	—		$	12,147		$	115,121		$	127,268
	The balances of the Company’s assets measured at fair value on a recurring basis as of December 31, 2011, are as follows (in thousands):
		Level 1			Level 2			Level 3			Total
											Fair Value
	Assets:
	Investment in life settlements	$	—		$	—		$	90,917		$	90,917
	Structured settlement receivables		—			—			12,376			12,376
	Investment securities available for sale		—			57,242			—			57,242
		$	—		$	57,242		$	103,293		$	160,535
	The Company values its investment in life settlement portfolio in two classes, non-premium financed and premium financed. In considering the categories, it is generally believed that market participants would require a lower risk premium for policies that were non-premium financed, while a higher risk premium would be required for policies that were premium financed.
	($ in thousands)				Quantitative Information about Level 3 Fair Value Measurements
		Fair Value			Aggregate			Valuation Technique (s)		Unobservable Input	Range
		at  12/31/12			death  benefit						( Weighted Average)
					12/31/12
	Non-premium financed	$	36,039		$	206,450		Discounted cash flow		Discount rate	14.80% - 21.30%
										Life expectancy evaluation	9.1 years
	Premium financed		77,402			866,706		Discounted cash flow		Discount rate	16.80% - 33.80%
										Life expectancy evaluation	10.9 years
	Investment in life settlements	$	113,441		$	1,073,156		Discounted cash flow		Discount rate	-24.01%
										Life expectancy evaluation	(10.6 years)
	Structured settlements receivables	$	1,680					Discounted cash flow		Facility sales discount rates	6.25% - 15.35%
	Following is a description of the methodologies used to estimate the fair values of assets and liabilities measured at fair value on a recurring basis and within the fair value hierarchy.
	Investment in life settlements— The Company has elected to account for the life settlement policies it acquires using the fair value method. Due to the inactive market for life settlements, the Company uses a present value technique to estimate the fair value of our investments in life settlements, which is a Level 3 fair value measurement as the significant inputs are unobservable and require significant management judgment or estimation. The Company currently uses a probabilistic method of valuing life insurance policies, which we believe to be the preferred valuation method in the industry. The most significant assumptions which we estimate are the life expectancy of the insured and the discount rate.
	In determining the life expectancy estimate, we analyze medical reviews from independent secondary market life expectancy providers (each a “LE provider”). An LE provider reviews the medical records and identifies all medical conditions it feels are relevant to the life expectancy of the insured. Debits and credits are then assigned by each LE provider to the individual’s health based on these medical conditions. The debit or credit that an LE provider assigns to a medical condition is derived from the experience of mortality attributed to this condition in the portfolio of lives that it monitors. The health of the insured is summarized by the LE provider into a life assessment of the individual’s life expectancy expressed both in terms of months and in mortality factor.
	The resulting mortality factor represents an indication as to the degree to which the given life can be considered more or less impaired than a standard life having similar characteristics (e.g. gender, age, smoking, etc.). For example, a standard insured (the average life for the given mortality table) would carry a mortality rating of 100%. A similar but impaired life bearing a mortality rating of 200% would be considered to have twice the chance of dying earlier than the standard life. Historically, the Company has procured the majority of its life expectancy reports from two life expectancy report providers and only used AVS life expectancy reports for valuation purposes. Beginning in the quarter ended September 30, 2012, the Company began utilizing life expectancy reports from 21st Services for valuation purposes and began averaging or “blending,” the results of the two life expectancy reports to establish a composite mortality factor. However, when “blending” the AVS and 21st Services life expectancy reports, if the difference in the probability of mortality between the reports is greater than 150%, the Company will reduce the higher mortality factor until the difference is 150%.
	The probability of mortality for an insured is then calculated by applying the blended life expectancy estimate to a mortality table. The mortality table is created based on the rates of death among groups categorized by gender, age, and smoking status. By measuring how many deaths occur during each year, the table allows for a calculation of the probability of death in a given year for each category of insured people. The probability of mortality for an insured is found by applying the mortality rating from the life expectancy assessment to the probability found in the actuarial table for the insured’s age, sex and smoking status. As discussed above in Use of Updated Life Expectancies and Change in Mortality Table in Management’s Discussion and Analysis of Financial Condition and Results of Operations, the Company has historically applied an actuarial table developed by a third party. However, beginning in the quarter ended September 30, 2012, the Company transitioned to a table developed by the U.S. Society of Actuaries known as the 2008 Valuation Basic Table, or the 2008 VBT. However, because the 2008 VBT table does not account for anticipated improvements in mortality in the insured population, the table was modified by outside consultants to reflect these expected mortality improvements. The Company believes that the change in mortality table does not materially impact the valuation of its life insurance policies and that its adoption of a modified 2008 VBT table is consistent with modified tables used by market participants and third party medical underwriters. The Company believes that the change in mortality table does not materially impact the valuation of its life insurance policies and that its adoption of a modified 2008 VBT table is consistent with modified tables used by market participants and third party medical underwriters.
	The mortality rating is used to create a series of best estimate probabilistic cash flows. This probability represents a mathematical curve known as a mortality curve. This curve is then used to generate a series of expected cash flows over the remaining expected lifespan of the insured and the corresponding policy. A discounted present value calculation is then used to determine the value of the policy. If the insured dies earlier than expected, the return will be higher than if the insured dies when expected or later than expected.
	The calculation allows for the possibility that if the insured dies earlier than expected, the premiums needed to keep the policy in force will not have to be paid. Conversely, the calculation also considers the possibility that if the insured lives longer than expected, more premium payments will be necessary. Based on these considerations, each possible outcome is assigned a probability and the range of possible outcomes is then used to create a price for the policy.
	Life expectancy sensitivity analysis
	As is the case with most market participants at December 31, 2012, the Company used a blend of life expectancies that are provided by two third-party LE providers. These are estimates of an insured’s remaining years. If all of the insured lives in the Company’s life settlement portfolio live six months shorter or longer than the life expectancies provided by these third parties, the change in fair market value would be as follows (dollars in thousands):
	Life Expectancy Months Adjustment	Value			Change in Value
	6		95,658			(17,783	)
	-		113,441			—
	-6		132,540			19,099
	As noted above, the Company takes an average, or blend, of the two life expectancy reports to derive a composite mortality factor, unless the probability of mortality between the reports is greater than 150%. In such instances and as reflected in the fair market value at December 31, 2012, the Company will cap the higher mortality factor at amount that is 150% above the lower mortality factor, which ultimately reduces the mortality factor inputted into the Company’s fair value model. At December 31, 2012, had the Company not implemented such a cap on affected policies, the fair value of the Company’s portfolio would have increased from the reported amount by $9.5 million. Additionally, the Company lengthened the life expectancy inputs to its fair value model on 45 policies with life expectancy reports that were more than two years old at December 31, 2012 based on the average lengthening reported on the 149 policies where update life expectancy reports were received. Had the Company not implemented such an adjustment on affected policies, the fair value of the Company’s portfolio would have increased from the reported amount by $5.8 million.
	Discount rate
	The discount rate incorporates current information about market interest rates, the credit exposure to the insurance company that issued the life insurance policy and our estimate of the risk premium an investor in the policy would require.
	The Company believes that investors in esoteric assets such as life insurance policies typically target yields averaging between 12%—17% for investments of more than a 5 year duration, and had historically used a 15%—17% range of discount rates to value its life insurance policies. In the third quarter of 2011 and in the immediate aftermath of becoming aware of the USAO investigation, the Company substantially increased the discount rates inputted into its fair value model as it believed that the USAO Investigation along with certain unfavorable court decisions unrelated to the Company contributed to a contraction in the marketplace that has continued to reverberate. Since that time, the Company has been re-evaluating its discount rates at the end of every reporting period in order to reflect the estimated discount rates that could reasonably be used in a market transaction involving the Company’s portfolio of life insurance policies. In doing so, the Company relies on management insight, engages third party consultants to corroborate its assessment, engages in discussions with other market participants and potential financing sources and extrapolates the discount rate underlying actual sales of policies.
	Although the Company believes that its entry into the Non-Prosecution Agreement had a positive effect on the market generally and for premium financed life insurance policies specifically, the Company believes that, when given the choice to invest in a policy that was associated with the Company’s premium finance business and a similar policy without such an association, all else being equal, an investor would have generally opted to invest in the policy that was not associated with the Company’s premium finance business. However, since entering into the Non-Prosecution Agreement, investors have required less of a risk premium to transact in these policies and the Company expects that, in time, investors will continue to require less of a risk premium to transact in policies associated with its premium finance business.
	Credit exposure of insurance company
	The company considers the financial standing of the issuer of each policy typically, we seek to hold policies issued by insurance companies with investment-grade ratings of at least single-A. At December 31, 2012, the Company had six life insurance policies issued by one carrier that was rated non-investment grade by S&P at December 31, 2012. In order to compensate a market participant for the perceived credit and challenge risks associated with these policies, the Company applied an additional 300 basis point risk premium.
	Estimated risk premium
	As of December 31, 2012, the Company owned 214 policies with an aggregate investment in life settlements of $113.4 million. Of these 214 policies, 171 were previously premium financed and are valued using discount rates that range from 16.80% to 33.80%. The remaining 43 policies are valued using discount rates that range from 14.80% to 21.30%. As of December 31, 2012, the weighted average discount rate calculated based on death benefit used in valuing the policies in our life settlement portfolio was 24.01%.
	The discount rate incorporates current information about market interest rates, the credit exposure to the insurance company that issued the life insurance policy and our estimate of the risk premium an investor in the policy would require. The extent to which the fair value could vary in the near term has been quantified by evaluating the effect of changes in the weighted average discount rate on the death benefit used to estimate the fair value. If the weighted average discount rate were increased or decreased by 1/2 of 1% and the other assumptions used to estimate fair value remained the same, the change in fair market value would be as follows (dollars in thousands):
	Market interest rate sensitivity analysis
	Weighted Average Rate Calculated Based on Death Benefit	Rate Adjustment			Value			Change in Value
	23.51%		-0.5	%		116,300			2,859
	24.01%		—			113,441			—
	24.51%		0.5	%		110,694			(2,747	)
	Future changes in the discount rates we use to value life insurance policies could have a material effect on our yield on life settlement transactions, which could have a material adverse effect on our business, financial condition and results of our operations.
At the end of each reporting period we re-value the life insurance policies using our valuation model in order to update our loan impairment valuation for loans receivable and our estimate of fair value for investments in policies held on our balance sheet. This includes reviewing our assumptions for discount rates and life expectancies as well as incorporating current information for premium payments and the passage of time.
Structured settlement receivables— All structured settlements that were acquired subsequent to July 1, 2010 were marked to fair value. Structured settlements that were acquired prior to July 1, 2010 were recorded at cost. We make this election because it is our intention to sell these assets within the next twelve months. Structured settlements are purchased at effective yields which are fixed. Purchase discounts are accreted into interest income using the effective-interest method for those structured settlements marked to fair value. As of December 31, 2012, the Company had 36 newly-acquired structured settlements with an estimated fair value of $1.7 million. The average sales discount rate for these newly-acquired structured settlements was 9.25%.
Changes in Fair Value
The following tables provide a roll-forward in the changes in fair value for the year ended December 31, 2012, for all assets for which the Company determines fair value using a material level of unobservable (Level 3) inputs (in thousands):
Life Settlements:
Balance, December 31, 2011	$	90,917
Purchase of policies		130
Acquired in foreclosure		5,724
Unrealized change in fair value		(5,660	)
Transfers into level 3		—
Transfers out of level 3		—
Sale of policies		(5,334	)
Premiums paid		27,804
Policies lapsed/written off		(140	)
Balance, December 31, 2012	$	113,441
Changes in fair value included in earnings for the period relating to assets held at December 31, 2012	$	(5,898	)
The Company recorded unrealized change in fair value of approximately $5.7 million and a gain of approximately $570,000 for the year ended December 31, 2012 and 2011, respectively.
Structured Settlements:
Balance, December 31, 2011	$	12,376
Purchase of contracts		24,313
Unrealized change in fair value		1,823
Sale of contracts		(36,615	)
Collections		(217	)
Transfers into level 3		—
Transfers out of level 3		—
Balance, December 31, 2012	$	1,680
Changes in fair value included in earnings for the period relating to assets held at December 31, 2012	$	255
The following tables provide a roll-forward in the changes in fair value for the year ended December 31, 2011, for all assets for which the Company determines fair value using a material level of unobservable (Level 3) inputs (in thousands).
Life Settlements:
Balance, December 31, 2010	$	17,138
Purchase of policies		50,480
Acquired in foreclosure		6,409
Unrealized change in fair value		570
Premiums paid		16,320
Transfers into Level 3		—
Transfers out of Level 3		—
Balance, September 30, 2011	$	90,917
Changes in fair value included in earnings for the period relating to assets held at December 31, 2011	$	570
Structured Settlements:
Balance, December 31, 2010	$	1,446
Purchase of contracts		27,545
Unrealized change in fair value		5,302
Sale of contracts		(21,723	)
Collections		(194	)
Transfers into Level 3		—
Transfers out of Level 3		—
Balance, September 30, 2011		12,376
Changes in fair value included in earnings for the period relating to assets held at December 31, 2011	$	4,218
There were no transfers of financial assets between levels of the fair value hierarchy during the years ended December 31, 2012 and 2011.
Assets and liabilities measured at fair value on a non-recurring basis
Following is a description of the methodologies used to estimate the fair values of assets and liabilities measured at fair value on a non-recurring basis, and the level within the fair value hierarchy in which those measurements are typically classified.
The Company’s impaired loans are measured at fair value on a non-recurring basis, as the carrying value is based on the fair value of the underlying collateral. The method used to estimate the fair value of impaired collateral-dependent loans depends on the nature of the collateral. For collateral that has lender protection insurance coverage, the fair value measurement is considered to be Level 2 as the insured value is an observable input and there are no material unobservable inputs. For collateral that does not have lender protection insurance coverage, the fair value measurement is considered to be Level 3 as the estimated fair value is based on a model whose significant inputs are the life expectancy of the insured and the discount rate, which are not observable inputs. As of December 31, 2012 and 2011, the Company had insured impaired loans with a net carrying value, which includes principal, accrued interest, and accreted origination fees, net of impairment, of approximately $112,000 and $14.1 million, respectively. As of December 31, 2012 and 2011, the Company had uninsured impaired loans (Level 3) with a net carrying value of approximately $3.6 million and $10.2 million, respectively. The provision for losses on loans receivable related to impaired loans was approximately 515,000 and $7.6 million for the years ended December 31, 2012 and 2011, respectively. See Notes 9 and 13.

Notes_and_Debenture_Payable

Notes and Debenture Payable	12 Months Ended
	Dec. 31, 2012
Notes and Debenture Payable	'
	NOTE 16—NOTES AND DEBENTURE PAYABLE
	A summary of the principal balances of notes payable included in the consolidated balance sheet as of December 31, 2012 and 2011 is as follows (in thousands):
		Total Notes Payable
		December 31,		December 31,
		2012		2011
	Cedar Lane	$	—	$	19,104
	White Oak, Inc.		—		173
	Total		—		19,277
	Cedar Lane
	On December 2, 2009, Imperial PFC Financing II, LLC was formed to enter into a financing agreement with Cedar Lane Capital, LLC, so that Imperial PFC Financing II, LLC could purchase Imperial Premium Finance notes for cash or a participation interest in the notes. The financing agreement was for a minimum of $5 million to a maximum of $250 million. The agreement was for a term of 28 months from the time of borrowing and the borrowings bore an annual interest rate of 14%, 15% or 16%, depending on the class of lender and were compounded monthly. All of the assets of Imperial PFC Financing II, LLC served as collateral under this credit facility. The Company was subject to several restrictive covenants under the facility. The restrictive covenants included items such as restrictions on the ability to pay dividends or incur additional indebtedness by Imperial PFC Financing II, LLC. The Company believes it was in compliance at December 31, 2012. The outstanding principal at December 31, 2012 and 2011 was approximately zero and $19.1 million, respectively, and accrued interest was approximately zero and $5.4 million, respectively. The Company was required to retain 2% of the principal amount of each loan made to the borrower, for purposes of indemnifying the facility for any breaches of representations, warranties or covenants of the borrower, as well as to fund collection efforts, if required. All remaining amounts under this facility were repaid during the year and December 31, 2012. Our lender protection insurer ceased providing us with lender protection insurance under this credit facility on December 31, 2010.
	White Oak, Inc.
	On February 5, 2009, Imperial Life Financing II, LLC, was formed to enter into a loan agreement with White Oak Global Advisors, LLC, so that Imperial Life Financing II, LLC could purchase Imperial Premium Finance notes in exchange for cash or a participation interest in the notes.
	In September 2009, the Imperial Life Financing II, LLC loan agreement was amended to increase the commitment by $12 million to a total commitment of $27 million. All of the assets of Imperial Life Financing II, LLC served as collateral under this facility. The notes were payable 6-26 months from issuance and the facility matured on March 11, 2012. The outstanding principal at December 31, 2012 and 2011, was zero and $172,000, respectively, and accrued interest was zero and $104,000, respectively. After December 31, 2010, we ceased originating premium finance loans with lender protection insurance. All remaining amounts under this facility were repaid during the year ended December 31, 2012.

Segment_Information

Segment Information	12 Months Ended
	Dec. 31, 2012
Segment Information	'
	NOTE 17—SEGMENT INFORMATION
	On October 25, 2013, the Company sold its structured settlement business which was previously reported as an operating segment. The operating results related to the Company’s structured settlement business have been included in discontinued operations in the Company’s Consolidated Statements of Operations for all periods presented and the Company has discontinued segment reporting. See Note 5.

Commitments_and_Contingencies

Commitments and Contingencies	12 Months Ended
	Dec. 31, 2012
Commitments and Contingencies	'
	NOTE 18—COMMITMENTS AND CONTINGENCIES
	In accordance with applicable accounting guidance, the Company establishes an accrued liability for litigation and regulatory matters when those matters present loss contingencies that are both probable and estimable. In such cases, there may be an exposure to loss in excess of any amounts accrued. When a loss contingency is not both probable and estimable, the Company does not establish an accrued liability. As a litigation or regulatory matter develops, the Company, in conjunction with any outside counsel handling the matter, evaluates on an ongoing basis whether such matter presents a loss contingency that is probable and estimable. If, at the time of evaluation, the loss contingency related to a litigation or regulatory matter is not both probable and estimable, the matter will continue to be monitored for further developments that would make such loss contingency both probable and estimable. Once the loss contingency related to litigation or regulatory matter is deemed to be both probable and estimable, the Company will establish an accrued liability with respect to such loss contingency and record a corresponding amount of litigation-related expense. The Company continues to monitor the matter for further developments that could affect the amount of the accrued liability that has been previously established. Excluding expenses of external legal service providers, litigation-related fees of $14.3 million and $14.0 million was recognized for the years ended December 31, 2012 and December 31, 2011, respectively.
	Lease Agreements
	The Company leases office space under operating lease agreements. On May 1, 2012, the Company renewed its lease to expire on October 31, 2014. The lease contains a provision for a 5% increase of the base rent annually on the anniversary of the rent commencement date.
	Future minimum payments under operating leases for years subsequent to December 31, 2012 are as follows:
	Year Ended December 31,
	2013	$	547,051
	2014		477,183
		$	1,024,234
	Rent expense under these leases was approximately $528,000, 546,000 and $545,000 for the years ended December 31, 2012, 2011 and 2010, respectively. Rent expense is recorded on a straight-line basis over the term of the lease. The difference between actual rent payments and straight-line rent expense is recorded as deferred rent. Deferred rent in the amount of $102,000 and $110,000 at December 31, 2012 and 2011, respectively, is included in other liabilities in the accompanying consolidated balance sheets.
	Employment Agreements
	In connection with our initial public offering, we entered into employment agreements with certain of our executive officers. The agreement for our chief executive officer provides for substantial payments in the event that the executive terminates his employment with us due to a material change in the geographic location where such officer performs his duties or upon a material diminution of his base salary or responsibilities, with or without cause. For our chief executive officer, payments are equal to three times the sum of base salary and the average of the three years’ annual cash bonus, unless the triggering event occurs during the first three years of his employment agreement, in which case the payments are equal to six times base salary. For our chief executive officer, the agreement provides for bonus incentives based on pre-tax income thresholds.
	On April 26, 2012, the Company entered into a Separation Agreement and General Release of Claims (the “Separation Agreement”) with its chief operating officer, Jonathan Neuman. As part of the Separation Agreement, Mr. Neuman resigned as a member of the Company’s board of directors and as an employee of Company. Pursuant to the Separation Agreement, the Company paid Mr. Neuman a separation payment of $1.4 million. The Separation Agreement does not include a covenant by Mr. Neuman to refrain from competing with Imperial, but does contain customary non-disparagement and non-solicitation provisions. The Separation Agreement provides releases by each party and also obligates the Company to continue to indemnify Mr. Neuman for his legal expenses substantially in the same manner contemplated by his employment agreement with the Company.
	On February 15, 2012, the Company entered into a retention arrangement with its Chief Financial Officer and Chief Credit Officer, Richard O’Connell, Jr. The arrangement provides that, in the event Mr. O’Connell’s employment is terminated without cause or Mr. O’Connell terminates his employment with the Company for good reason, in each case, prior to December 31, 2013, Mr. O’Connell will be entitled to 24 months’ base salary in addition to any accrued benefits. Additionally, unless Mr. O’Connell’s employment is terminated for cause, Mr. O’Connell will be entitled to a minimum bonus of $250,000 for each of 2012 and 2013, subject to the Company’s Board of Directors’ right to terminate the bonus payment in respect of 2013 prior to January 1, 2013. Except for the provisions relating to severance and other termination benefits, the terms of Mr. O’Connell’s Employment and Severance Agreement entered into with the Company as of November 4, 2010 remain in effect during the term of the retention arrangement and the provisions of the employment agreement relating to severance and other termination benefits will again be in effect following any termination of the retention arrangement if Mr. O’Connell is then employed by the Company.
	During the first quarter of 2012, the Company also entered into severance and retention award agreements with certain of its executive officers (other than the CEO and CFO). The agreements generally provide for a minimum guaranteed bonus in each of 2012 and 2013 as well as severance payments equal to two years base salary in the event of termination by the Company without Cause (as defined in the respective agreement) provided the executive executes a general release of claims against the Company.
	We do not have any general policies regarding the use of employment agreements, but may, from time to time, enter into such a written agreement to reflect the terms and conditions of employment of a particular named executive officer, whether at the time of hire or thereafter.
	Subrogation Rights, net
	Every credit facility entered into by subsidiaries of the Company between December 2007 and December 2010 to finance the premium finance lending business required lender protection insurance for each loan originated under such credit facility. Generally, when the Company exercises its right to foreclose on collateral, the Company’s lender protection insurer has the right to direct control or take beneficial ownership of the life insurance policy, subject to the terms and conditions of the lender protection insurance policy, including notice and timing requirements. Otherwise, the lender protection insurer maintains its salvage collection and subrogation rights. The lender protection insurer’s salvage collection and subrogation rights generally provide a remedy by which the insurer can seek to recover the amount of the lender protection claim paid plus premiums paid by it, expenses and interest thereon.
	In those instances where the Company has foreclosed on the collateral, the lender protection insurer has maintained its salvage collection and subrogation rights and has been covering the cost of the ongoing premiums needed to maintain certain of these life insurance policies. However, the lender protection insurer may elect at any time to discontinue the payment of premiums which would result in lapse of the policies if the Company does not otherwise pay the premiums. The Company views these policies as having uncertain value because the lender protection insurer controls what happens to the policy from a payment of premium standpoint, and the amount of the lender protection insurer’s salvage collection and subrogation claim rights on any individual life insurance policy could equal the cash flow received by the Company with respect to any such policy. For these reasons, , the Company does not rely on these policies for revenue generation, and these policies are considered contingent assets and are not included in the amount of life settlements on the accompanying consolidated balance sheet.
	The Company accounts for the maturities of life settlements with subrogation rights net of subrogation expenses as contingent gains in accordance with ASC 450, Contingencies and recognizes the revenue from the maturities of these policies when all contingencies are resolved.
	Class Action Litigation, Derivative Demands and the Insurance Coverage Declaratory Relief Complaint
	The Class Action Litigation
	Initially on September 29, 2011, the Company, and certain of its officers and directors were named as defendants in a putative securities class action filed in the Circuit Court of the 15th Judicial Circuit in and for Palm Beach County, Florida, entitled Martin J. Fuller v. Imperial Holdings, Inc. et al. Also named as defendants were the underwriters of the Company’s initial public offering. That complaint asserted claims under Sections 11, 12 and 15 of the Securities Act of 1933, as amended, alleging that the Company should have but failed to disclose in the registration statement for its initial public offering purported wrongful conduct relating to its life finance business which gave rise to the USAO Investigation. On October 21, 2011, an amended complaint was filed that asserts claims under Sections 11, 12 and 15 of the Securities Act of 1933, based on similar allegations. On October 25, 2011, defendants removed the case to the United States District Court for the Southern District of Florida.
	On October 31, 2011, another putative class action case was filed in the Circuit Court of the 15th Judicial Circuit in and for Palm Beach County, Florida, entitled City of Roseville Employees Retirement System v. Imperial Holdings, et al, naming the same defendants and also bringing claims under Sections 11, 12 and 15 of the Securities Act based on similar allegations. On November 28, 2011, defendants removed the case to the United States District Court for the Southern District of Florida. The plaintiffs in the Fuller and City of Roseville cases moved to remand their cases back to state court. Those motions were fully briefed and argued.
	On November 18, 2011, a putative class action case was filed in the United States District Court for the Southern District of Florida, entitled Sauer v. Imperial Holdings, Inc., et al, naming the same defendants and bringing claims under Sections 11 and 15 of the Securities Act of 1933 based on similar allegations.
	On December 14, 2011, another putative class action case filed in United States District Court for the Southern District of Florida, entitled Pondick v. Imperial Holdings, Inc., et al., naming the same defendants and bringing claims under Sections 11, 12, and 15 of the Securities Act of 1933 based on similar allegations.
	On February 24, 2012, the four putative class actions were consolidated and designated: Fuller v. Imperial Holdings et al. in the United States District Court for the Southern District of Florida, and lead plaintiffs were appointed.
	In addition, the underwriters of the Company’s initial public offering have asserted that the Company is required by its Underwriting Agreement to indemnify the underwriters’ expenses and potential liabilities in connection with the litigation.
	The Insurance Coverage Declaratory Relief Complaint
	On June 13, 2012, Catlin Insurance Company (UK) Ltd. (“Catlin”) filed a declaratory relief action against the Company in the United States District Court for the Southern District of Florida. The complaint seeks a determination that there is no coverage under Catlin’s primary Directors, Officers and Company Liability Policy (the “Policy”) issued to the Company for the period February 3, 2012 to February 3, 2012, based on a prior and pending litigation exclusion (the “Exclusion”). Catlin also seeks a determination that it is entitled to reimbursement of the approximately $0.8 million in defense costs and fees advanced to the Company in the first quarter of 2012 under the Policy if it is determined that the Exclusion precludes coverage. As of the filing of this Annual Report on Form 10-K, the Company has not yet been served with the complaint.
	Derivative Demands
	On November 16, 2011, the Company’s Board of Directors received a shareholder derivative demand from Harry Rothenberg (the “Rothenberg Demand”), which was referred to the special committee for a thorough investigation of the issues, occurrences and facts relating to, connected to, and arising from the USAO Investigation referenced in the Rothenberg Demand. On May 8, 2012, the Company’s Board of Directors received a derivative demand made by another shareholder, Robert Andrzejczyk (the “Andrzejczyk Demand”). The Andrzejczyk Demand, like the Rothenberg Demand was referred to the special committee, which determined that it did not contain any allegations that differed materially from those alleged in the Rothenberg Demand. On July 20, 2012, the Company (as nominal defendant) and certain of the Company’s officers, directors, and a former director were named as defendants in a shareholder derivative action filed in the Circuit Court of the 15th Judicial Circuit in and for Palm Beach County, Florida, entitled Robert Andrzejczyk v. Imperial Holdings, Inc. et al. The complaint alleges, among other things, that the Special Committee’s refusal of the Andrzejczyk Demand was improper.
	The Proposed Settlement
	On December 18, 2012, attorneys for the Company signed a Term Sheet for Global Settlement Regarding Imperial Holdings, Inc. Matters (the “Term Sheet”) setting forth the terms upon which each of the parties to the matters described in “Class Action Litigation, Derivative Demands and the Insurance Coverage Declaratory Relief Complaint” would be willing to settle the class action litigation and derivative actions as well as the declaratory relief action filed by Catlin, respectively. In addition to the Company’s attorneys, the Term Sheet was signed by attorneys representing the plaintiffs in the class action lawsuits and derivative actions instituted against the Company, as well attorneys for the Company’s director and officer liability insurance carriers (“D&O Carriers”), certain individual defendants named in the class actions and the underwriters in the Company’s initial public offering.
	While non-binding and subject to certain contingencies, the Term Sheet provides that each of the parties will endeavor to enter into definitive settlement agreements in respect of the class action litigation, derivative action and insurance coverage declaratory relief complaint. Although definitive settlement agreements have not been executed as of the filing of this Annual Report on Form 10-K, the Company does expect to continue to work in good faith with the other parties to the Term Sheet to execute settlement agreements as soon as is practicable.
	The terms of the class action settlement include a cash payment of $12.0 million, of which $11.0 million is to be contributed by the Company’s primary and excess D&O Carriers and the issuance of two million warrants for shares of the Company’s stock with an estimated value of $3.1 million at the date of the signing of the Term Sheet. The value of the warrants will be re-asses at issuance. The warrants will have a five-year term with an exercise price of $10.75 and will be issued when the settlement proceeds are distributed to the claimants. In addition, the underwriters in Company’s initial public offering are to waive their rights to indemnity and contribution by the Company. The Company established a reserve related to the proposed settlement of $15.1 million, which is included in other liabilities and a receivable for insurance recoverable from the Company’s D&O Carrier of $11.0 million, which is included in prepaid and other assets. The $4.1 million net effect of the proposed settlement is included in legal fees in the statement of operations for the year ended December 31, 2012.
	The derivative actions would be settled for implementation of certain compliance reforms. The Term Sheet also contemplates payment by the Company’s primary D&O carrier of $1.5 million for legal fees in respect of the derivative actions and the contribution of $500,000 in the Company’s stock.
	In addition, the Term Sheet contemplates that the Company will contribute $500,000 to a trust to cover certain claims under its director and officer liability insurance policies.
	The Company established a reserve to the proposed derivative settlement and insurance trust of $2.5 million, which is included in other liabilities and a receivable for insurance recoverable from the Company’s D&O Carrier of $1.5 million, which is included in prepaid and other assets. The net effect of the settlement of $1.0 million is included in legal fees in the settlement of operations for the year ended December 31, 2012.
	The proposed settlement also requires the Company to advance legal fees to and indemnify certain individuals covered under the policies. The obligation to advance and indemnify on behalf of these individuals, while currently unquantifiable, may be substantial and could have a material adverse effect on the Company’s financial position and results of operations.
	SEC Investigation
	On February 17, 2012, the Company received a subpoena issued by the staff of the SEC seeking documents from 2007 through the present, generally related to the Company’s premium finance business and corresponding financial reporting. The SEC is investigating whether any violations of federal securities laws have occurred and the Company has been cooperating with the SEC regarding this matter. The Company is unable to predict what action, if any, might be taken in the future by the SEC or its staff as a result of the matters that are the subject of the subpoena or what impact, if any, the cost of responding to the subpoena might have on the Company’s financial position, results of operations, or cash flows. The Company has not established any provision for losses in respect of this matter.
	Litigation
	We are party to various other legal proceedings that arise in the ordinary course of business. We believe that the resolution of these other proceedings will not, based on information currently available to us, have a material adverse effect on our financial position or results of operations. See Note 22 – Subsequent Events.

Stockholders_Equity

Stockholders' Equity	12 Months Ended
	Dec. 31, 2012
Stockholders' Equity	'
	NOTE 19—STOCKHOLDERS’ EQUITY
	In January 2011, Imex Settlement Corporation executed an agreement to purchase from the Company 110,000 Series F Preferred Units for an $11.0 million promissory note. The Series F Preferred Units were non-voting and would be redeemed at any time by the Company for an amount equal to the applicable unreturned preferred capital amount allocable to the Series F Preferred Units sought to be redeemed, plus any accrued and unpaid preferred return. The cumulative rate of preferred return was equal to 16.0% of the outstanding units, per annum. The Series F Preferred units and the $11.0 million promissory note were extinguished as a result of the corporate conversion.
	On February 3, 2011, the Company converted from a Florida limited liability company to a Florida corporation at which time the members of Imperial Holdings, LLC became shareholders of Imperial Holdings, Inc. As a limited liability company, the Company was treated as a partnership for United States federal and state income tax purposes and, as such, the Company was not subject to taxation. For all periods subsequent to such conversion, the Company will be subject to corporate-level United States federal and state income taxes.
	As part of the corporate conversion, the Company entered into a plan of conversion with its shareholders on January 12, 2011, as amended on February 3, 2011. Pursuant to the plan of conversion, all of the Company’s outstanding common units and Series A, B, C, D and E preferred units and all principal and accrued and unpaid interest outstanding under our promissory note in favor of IMPEX Enterprises, Ltd. were converted into 2,300,273 shares of our common stock. The plan of conversion, which describes the corporate conversion as well as other transactions and agreements by the parties with an interest in the Company’s equity, reflects an agreement among its then shareholders as to the allocation of the shares of common stock to be issued to its shareholders in the corporate conversion. Thus, there is no formula that may be used to describe the conversion of a common unit or a Series A, B, C, D and E preferred unit into common stock.
	Immediately after the corporate conversion and prior to the conversion of the Skarbonka debenture and the closing of the Company’s initial public offering on February 11, 2011, the Company’s shareholders consisted of two Florida corporations and one Florida limited liability company. These three shareholders reorganized so that their beneficial owners received the same number of shares of common stock of Imperial Holdings, Inc. issuable to the members of Imperial Holdings, LLC in the corporate conversion.
	After the corporate conversion and prior to the closing of the Company’s initial public offering on February 11, 2011, the Company converted two phantom stock agreements it had with two employees into 27,000 shares of common stock and incurred stock compensation of approximately $290,000.
	In addition, following the corporate conversion and upon the closing of the Company’s initial public offering on February 11, 2011, three shareholders received ownership of warrants that may be exercised for up to a total of 4,053,333 shares of the Company’s common stock at a weighted average exercise price of $14.51 per share. In connection with the over-allotment option, the same three shareholders received ownership of 187,188 additional warrants. One-third of the warrants will have an exercise price equal to 120% of the price of the common stock sold in this offering, one-third of the warrants will have an exercise price equal to 135% of the price of the common stock sold in this offering, and one-third of the warrants will have an exercise price equal to 150% of the price of the common stock sold in this offering. The warrants will expire 7 years after the date of issuance and the exercisability of the warrant will vest ratably over four years.
	On February 11, 2011, the Company closed its initial public offering of 16,666,667 shares of common stock at $10.75 per share. On February 15, 2011 Imperial Holdings, Inc. sold an additional 935,947 shares of common stock. The sale was in connection with the over-allotment option Imperial Holdings, Inc. granted to its underwriters in connection with Imperial’s initial public offering. As a result, the total initial public offering size was 17,602,614 shares. All shares were sold to the public at a price of $10.75. The Company received net proceeds of approximately $174.2 million after deducting the underwriting discounts and commissions and our offering expenses.
	After giving effect to (i) the corporate conversion, pursuant to which all outstanding common and preferred limited liability company units of Imperial Holdings, LLC (including all accrued and unpaid dividends thereon) and all principal and accrued and unpaid interest outstanding under the Company’s promissory note in favor of IMPEX Enterprises, Ltd. were converted into 2,300,273 shares of the Company’s common stock; (ii) the issuance of 27,000 shares of common stock to two employees pursuant to the terms of each of their respective phantom stock agreements; (iii) the conversion of a $30.0 million debenture into 1,272,727 shares of common stock (iv) the sale of 16,666,667 shares in the Company’s offering, and (v) the sale of 935,947 shares in connection with the over-allotment option granted to the Company’s underwriters, there are 21,202,614 shares of common stock outstanding. Up to an additional 4,240,521 shares of common stock will be issuable upon the exercise of warrants issued to existing members of the Company. Moreover, the Company reserved an aggregate of 1,200,000 shares of common stock under its Omnibus Plan, of which 665,956 options to purchase shares of common stock were granted to existing employees, directors and named executive officers at a weighted average exercise price of $10.75 per share, and an additional 3,507 shares of restricted stock had been granted under the plan subject to vesting. The remaining 530,537 shares of common stock are available for future awards.

Employee_Benefit_Plan

Employee Benefit Plan	12 Months Ended
	Dec. 31, 2012
Employee Benefit Plan	'
	NOTE 20—EMPLOYEE BENEFIT PLAN
	The Company has adopted a 401(k) plan that covers employees that have reached 18 years of age and completed three months of service. The plan provides for voluntary employee contributions through salary reductions, as well as discretionary employer contributions. For the years ended December 31, 2012 and 2011, there were no employer contributions made.

Summary_Of_Quarterly_Financial

Summary Of Quarterly Financial Data	12 Months Ended
	Dec. 31, 2012
Summary Of Quarterly Financial Data	'
	NOTE 21—SUMMARY OF QUARTERLY FINANCIAL DATA (UNAUDITED)
	The following tables set forth our unaudited consolidated financial data regarding operations for each quarter of fiscal 2012 and 2011 (in thousands). This information, in the opinion of management, includes all adjustments necessary, consisting only of normal and recurring adjustments, to state fairly the information set forth therein. Certain amounts previously reported have been reclassified to conform to the current presentation. These reclassifications had no net impact on the results of operations (in thousands).
		Fiscal 2012
		1st Quarter			2nd Quarter			3rd Quarter			4th Quarter
	Total income		6,733			12,214			(16,940	)		3,081
	(Loss) income from operations		(7,150	)		(350	)		(30,316	)		(4,242	)
	Net (loss) income from continuing operations		(7,109	)		(350	)		(30,311	)		(4,249	)
		Fiscal 2011
		1st Quarter			2nd Quarter			3rd Quarter			4th Quarter
	Total income		22,807			26,510			(5,125	)		(11,911	)
	Income/(Loss) from operations		9,232			15,358			(19,116	)		(39,248	)
	Net Income/(Loss) from continuing operations		1,236			14,175			(11,289	)		(37,896	)

Income_Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2012
Income Taxes	'
	NOTE 22—INCOME TAXES
	The provision (benefit) for income taxes consisted of (in thousands):
		12/31/12			12/31/11
	Current
	Federal	$	—		$	—
	State		—			—
			—			—
	Deferred
	Federal	$	(14,377	)	$	(9,474	)
	State		(2,391	)		(1,575	)
			(16,768	)		(11,049	)
	Valuation allowance increase	$	16,729			11,049
	Benefit for income taxes	$	(39	)	$	—
	The Company’s actual provision (benefit) for income taxes from continuing operations differ from the Federal expected income tax provision as follows (in thousands):
		2012						2011
		Amount			Rate			Amount			Rate
	Tax Benefit at statutory rate	$	(15,636	)		35	%	$	(13,719	)		35	%
	Increase (decrease) in taxes resulting from:
	State tax (net of federal benefit)		(1,555	)		3.48			(1,045	)		2.67
	Pre-conversion loss		—			—			678			(1.73	)
	Pre-conversion deferred tax asset		—			—			223			(0.57	)
	Other		423			(0.94	)		14			(0.04	)
	Department of Justice settlement		—			—			2,800			(7.14	)
	Valuation allowance increase		16,729			(37.45	)		11,049			(28.19	)
	Benefit for income taxes	$	(39	)		0.09	%	$	—			0	%
	On February 3, 2011, the Company converted from a Florida limited liability company to a Florida corporation (the “conversion”). Prior to the conversion the company was treated as a partnership for federal and state income tax purposes. As a partnership our taxable income and losses were attributed to our members, and accordingly, no provision or liability for income taxes was reflected in the accompanying consolidated financial statements for periods prior to the conversion.
	As a result of the conversion of the Company from a partnership to a corporation, the company recorded a one-time deferred tax liability of approximately $4.5 million for the federal and state tax effects of cumulative differences between financial and tax reporting which existed at the time of the conversion. Pursuant to ASC 740 these deferred taxes were recorded in income tax expense for the year ending December 31, 2011.
	Following the conversion and prior to the initial public offering, one of the founding members entered into a reorganization that allowed the Company to assume the corporate shareholder’s tax attributes. These tax attributes include approximately $11.2 million of net operating loss carryovers (“NOLs”). Accordingly, the Company recorded a one-time deferred tax asset of approximately $4.3 million related to these tax attributes and this amount was recorded as an income tax benefit. The utilization of the acquired NOLs is subject to an annual limitation based on the value of the Company at the time they were acquired. These NOLs expire starting in 2028.
	The tax effects of temporary differences that give rise to significant portions of the deferred tax assets and tax liabilities were (in thousands):
		December 31,			December 31,
		2012			2011
	Deferred tax assets:
	Federal and State net operating loss carryforward	$	25,454		$	13,488
	Allowance for doubtful accounts		1,969			3,362
	Unrealized loss on available for sale investment securities		—			25
	Unrealized loss on life and structured settlements, net		1,813			—
	Litigation reserves		2,324			68
	Other		693			704
	Total gross deferred tax assets		32,253			17,647
	Less valuation allowance		(27,803	)		(11,074	)
	Total deferred tax assets		4,450			6,573
	Deferred tax liabilities:
	Unrealized gains on life and structured settlements		—			5,075
	Gain on structured settlements deferred for tax purposes		4,436			1,498
	Unrealized gain on available for sale investment securities		14			—
	Other		—			—
	Total gross deferred tax liabilities		4,450			6,573
	Total net deferred tax asset (liability)	$	—		$	—
	The Company evaluates its deferred tax assets to determine if valuation allowances are required. In its evaluation, management considers taxable loss carryback availability, expectations of sufficient future taxable income, trends in earnings, existence of taxable income in recent years, the future reversal of temporary differences, and available tax planning strategies that could be implemented, if required. Valuation allowances are established based on the consideration of all available evidence using a more likely than not standard. Based on the Company’s evaluation, a full deferred tax valuation allowance was established against its net deferred tax assets as of December 31, 2012 and 2011. This valuation allowance was recognized as a charge to income tax expense. If the valuation allowance is reduced or eliminated, future tax benefits will be recognized as a reduction to income tax expense that will have a positive non-cash impact on net income and stockholders’ equity. The Company’s deferred tax asset valuation allowance would be reversed if and when it becomes more likely than not that the Company will generate sufficient taxable income in the future to utilize the tax benefits of the related deferred tax assets.
	Generally, the amount of tax expense or benefit allocated to continuing operations is determined without regard to the tax effects of other categories of income or loss, such as other comprehensive income. However, an exception to the general rule is provided when, in the presence of a valuation allowance against deferred tax assets, there is a pretax loss from continuing operations and pretax income from other categories. In such instances, income from other categories must offset the current loss from operations, the tax benefit of such offset being reflected in continuing operations. For the period ended December 31, 2012 we reduced our deferred tax valuation allowance from continuing operations by $39,000 to reflect the future taxable income associated with unrealized gains in accumulated other comprehensive income.
	The Federal and state NOL generated by the Company since its conversion to a corporation was approximately $54.8 million which expire beginning in 2031.
	The Company’s income tax returns for all years are subject to examination. Various state jurisdiction tax years remain open to examination.
	In February of 2013, the Company was notified by the Internal Revenue Service of its intention to examine the Company’s partnership return for the year ended December 31, 2010. Audit field work for this examination has not been scheduled.
	The Company recognizes interest and penalties accrued related to unrecognized tax benefits in tax expense.
	A reconciliation of the total amounts of unrecognized benefits at the beginning and end of the period was as follows (in thousands):
		December 31,			December 31,
		2012			2011
	Balance as of beginning of period	$	6,295		$	—
	Additions based on tax positions taken in the current year		—			6,295
	Reductions of tax positions for prior years		—			—
	Balance as of end of period	$	6,295		$	6,295
	The recognition of the unrecognized tax benefits would result in a 0% decrease in the Company’s effective tax rate.

Subsequent_Events

Subsequent Events	12 Months Ended
	Dec. 31, 2012
Subsequent Events	'
	NOTE 23—SUBSEQUENT EVENTS
	Bridge Facility
	On December 21, 2012, Greenwood opened a securities intermediary account, which provides for a securities intermediary to hold Greenwood’s life insurance policies on its behalf. On March 27, 2013, Greenwood, as issuer, and the Company and OLIPP IV, LLC, as guarantors, entered into an indenture with Wilmington Trust Company, as indenture trustee, under which an aggregate principal amount of $45 million in senior secured bridge notes were issued (the “Bridge Facility”).
	Interest under the Bridge Facility accrues at 12% per annum for the first nine months from the issue date, and increases by 600 basis points thereafter to 18% per annum. Up to 25% of the net proceeds from the Bridge Facility after transaction expenses may be used by the Company for general corporate purposes, including for premium payments on life insurance policies not owned by Greenwood, with the balance used to pay fees and expenses associated with the Bridge Facility and for premiums on life insurance policies owned by Greenwood. The Bridge Facility is guaranteed by the Company and secured by the cash on account at Greenwood and its portfolio of life insurance policies. The Bridge Facility is also secured by pledges of the equity interests of Greenwood’s direct parent and each subsidiary of the Company, other than its licensed life settlement provider, that holds life insurance policies that are not subject to the subrogation rights of the Company’s lender protection insurance carrier.
	Notes under the Bridge Facility were issued at 92% of their face amount and are pre-payable at par at any time. The Bridge Facility is subject to mandatory prepayment provisions upon the issuance of additional debt, equity raises and asset sales. Mandatory prepayments are generally at par although certain asset sales or a change of control each trigger a mandatory prepayment obligation at 109%. The Bridge Facility requires the maintenance of a 2 times asset coverage ratio and six months of cash on hand to pay interest on the Bridge Facility and premiums on life insurance policies owned by Greenwood. Upon a failure to maintain requisite cash on hand, the Company may be obligated to sell policies to repay the lenders under the Bridge Facility. There can be no assurance, however, that we will be able to obtain capital on more favorable terms or at all.
	As of December 31, 2012, OLIPP IV (“OLIPP”) contributed 191 life settlements with an estimated fair value of approximately $104.6 million to Greenwood. In accordance with ASC 810, Consolidation, the Company determined that OLIPP was the primary beneficiary of Greenwood having a controlling financial interest in the variable interest entity and therefore, the Company will consolidate Greenwood in its financial statements beginning in the first quarter of 2013.
	21st Services, LLC (“21st Services”) and AVS Underwriting LLC (“AVS”)
	On January 22, 2013, 21st Services announced significant revisions to its underwriting methodology. On February 4, 2013, 21st Services then announced that it was correcting errors discovered in its revised methodology. According to the provider, these revisions have generally been understood to lengthen the average reported life expectancy furnished by 21st Services by 19% and, accordingly, will likely negatively impact the valuation of the Company’s portfolio of life insurance policies. However, the Company has not received life expectancy reports from 21st Services that utilize its revised methodology and the fair value of the Company’s portfolio of life insurance policies at December 31, 2012 does not take into account changes to life expectancy estimates that may result from 21st Services updated methodology. While the Company is still evaluating the general impact that these revisions might have on the value of its portfolio, the Company may determine to cease utilizing, or adjust the weighting of, 21st Services reports as an input into its fair value model in future periods as market practice responds to the adjusted methodology. Additionally, the Company’s other life expectancy provider, AVS Underwriting LLC (“AVS”), filed for federal bankruptcy protection under Chapter 11 on February 12, 2013. The Company cannot, at this time, predict what impact the bankruptcy filing will have on the Company’s ability to procure life expectancy reports from AVS in the future, AVS’s ability to continue its operations or whether other market participants will continue to use AVS life expectancy reports for valuation purposes going forward. As a result of these developments, the Company may need to adjust the application of life expectancy reports in its fair value methodology or source reports from different life expectancy providers in future periods, which could have a material impact on the Company’s fair value calculations.

Summary_of_Significant_Account1

Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2012
Principles of Consolidation	'
	Principles of Consolidation
	The consolidated financial statements include the accounts of the Company, all of its wholly-owned subsidiaries and its special purpose entities. The special purpose entity has been created to fulfill specific objectives. All significant intercompany balances and transactions have been eliminated in consolidation.
	The results of the Company’s structured settlement segment have been classified and presented as discontinued operations in the accompanying Consolidated Statement of Operations (Note 5). Prior period results have been adjusted to conform to this presentation. No other adjustments have been made to the Consolidated Financial Statements and following notes.
Life Finance Loans Receivable	'
	Life Finance Loans Receivable
	We report loans receivable acquired or originated by us at cost, adjusted for any deferred fees or costs in accordance with Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) 310-20, Receivables—Nonrefundable Fees and Other Costs, discounts, and loan impairment valuation. All loans are collateralized by life insurance policies. Interest income is accrued on the unpaid principal balance on a monthly basis based on the applicable rate of interest on the loans.
	In accordance with ASC 310, Receivables, we specifically evaluate all loans for impairment based on the fair value of the underlying policies as collectability is primarily collateral dependent. The loans are considered to be collateral dependent as the repayment of the loans is expected to be provided by the underlying insurance policies. In the event of default, the borrower typically relinquishes beneficial ownership of the policy to us in exchange for our release of the debt (or we enforce our security interests in the beneficial interests in the trust that owns the policy). For loans that have lender protection insurance, we make a claim against the lender protection insurance policy and, subject to terms and conditions of the lender protection insurance policy, our lender protection insurer has the right to direct control or take beneficial ownership of the policy upon payment of our claim. For loans without lender protection insurance, we have the option of selling the policy or maintaining it on our balance sheet for investment.
	We evaluate the loan impairment valuation on a monthly basis based on our periodic review of the estimated value of the underlying collateral. This evaluation is inherently subjective as it requires estimates that are susceptible to significant revision as more information becomes available. The loan impairment valuation is established as losses on loans are estimated and the provision is charged to earnings. Once established, the loan impairment valuation cannot be reversed to earnings.
	In order to originate premium finance transactions our lenders required that we procure lender protection insurance. This lender protection insurance mitigates our exposure to losses which may be caused by declines in the fair value of the underlying policies. At the end of each reporting period, for loans that have lender protection insurance, a loan impairment valuation is established if the carrying value of the loan receivable exceeds the amount of coverage. The lender protection insurance program was terminated as of December 31, 2010, and all loans originated after December 31, 2010, do not carry lender protection insurance coverage. Thus, for all loans originated in 2011 and beyond, a loan impairment valuation is established if the carrying value of a loan receivable exceeds the fair value of the underlying collateral. See Notes 10, 14 and 15 to the accompanying consolidated financial statements.
Ownership of Life Insurance Policies	'
	Ownership of Life Insurance Policies
	In the ordinary course of business, a large portion of our borrowers default by not paying off the loan and relinquish ownership of the life insurance policy to us in exchange for our release of the obligation to pay amounts due. We also buy life insurance policies in the secondary and tertiary markets. We account for life insurance policies that we own as investments in life settlements (life insurance policies) in accordance with ASC 325-30, Investments in Insurance Contracts, which requires us to use either the investment method or the fair value method. The election is made on an instrument-by-instrument basis and is irrevocable. We have elected to account for these life insurance policies as investments using the fair value method.
	We initially record investments in life settlements at the transaction price. For policies acquired upon relinquishment by our borrowers, we determine the transaction price based on fair value of the acquired policies at the date of relinquishment. The difference between the net carrying value of the loan and the transaction price is recorded as a gain (loss) on loan payoffs and settlements. For policies acquired for cash, the transaction price is the amount paid.
Valuation of Insurance Policies	'
	Valuation of Insurance Policies
	Our valuation of insurance policies is a critical component of our estimate for the loan impairment valuation and the fair value of our investments in life settlements (life insurance policies). We currently use a probabilistic method of valuing life insurance policies, which we believe to be the preferred valuation method in the industry. The most significant assumptions which we estimate are the life expectancy of the insured and the discount rate.
	In determining the life expectancy estimate, we analyze medical reviews from independent secondary market life expectancy providers (each a “LE provider”). An LE provider reviews the medical records and identifies all medical conditions it feels are relevant to the life expectancy of the insured. Debits and credits are then assigned by each LE provider to the individual’s health based on these medical conditions. The debit or credit that an LE provider assigns to a medical condition is derived from the experience of mortality attributed to this condition in the portfolio of lives that it monitors. The health of the insured is summarized by the LE provider into a life assessment of the individual’s life expectancy expressed both in terms of months and in mortality factor.
	The resulting mortality factor represents an indication as to the degree to which the given life can be considered more or less impaired than a standard life having similar characteristics (e.g. gender, age, smoking, etc.). For example, a standard insured (the average life for the given mortality table) would carry a mortality rating of 100%. A similar but impaired life bearing a mortality rating of 200% would be considered to have twice the chance of dying earlier than the standard life. Historically, the Company has procured the majority of its life expectancy reports from two life expectancy report providers and only used AVS life expectancy reports for valuation purposes. Beginning in the quarter ended September 30, 2012, the Company began utilizing life expectancy reports from 21st Services for valuation purposes and began averaging or “blending,” the results of the two life expectancy reports to establish a composite mortality factor. However, when “blending” the AVS and 21st Services life expectancy reports, if the difference in the probability of mortality between the reports is greater than 150%, the Company will reduce the higher mortality factor until the difference is 150%.
	The probability of mortality for an insured is then calculated by applying the blended life expectancy estimate to a mortality table. The mortality table is created based on the rates of death among groups categorized by gender, age, and smoking status. By measuring how many deaths occur during each year, the table allows for a calculation of the probability of death in a given year for each category of insured people. The probability of mortality for an insured is found by applying the mortality rating from the life expectancy assessment to the probability found in the actuarial table for the insured’s age, sex and smoking status. As discussed in Use of Updated Life Expectancies and Change in Mortality Table in Management’s Discussion and Analysis of Financial Condition and Results of Operations, the Company has historically applied an actuarial table developed by a third party. However, beginning in the quarter ended September 30, 2012, the Company transitioned to a table developed by the U.S. Society of Actuaries known as the 2008 Valuation Basic Table, or the 2008 VBT. However, because the 2008 VBT table does not account for anticipated improvements in mortality in the insured population, the table was modified in conjunction with outside consultants to reflect these expected mortality improvements. The Company believes that the change in mortality table does not materially impact the valuation of its life insurance policies and that its adoption of a modified 2008 VBT table is consistent with modified tables used by market participants.
	The mortality rating is used to create a series of best estimate probabilistic cash flows. This probability represents a mathematical curve known as a mortality curve. This curve is then used to generate a series of expected cash flows over the remaining expected lifespan of the insured and the corresponding policy. A discounted present value calculation is then used to determine the value of the policy. If the insured dies earlier than expected, the return will be higher than if the insured dies when expected or later than expected.
	The calculation allows for the possibility that if the insured dies earlier than expected, the premiums needed to keep the policy in force will not have to be paid. Conversely, the calculation also considers the possibility that if the insured lives longer than expected, more premium payments will be necessary. Based on these considerations, each possible outcome is assigned a probability and the range of possible outcomes is then used to create a price for the policy.
	As is the case with most market participants at December 31, 2012, the Company used a blend of life expectancies that are provided by two third-party LE providers. These are estimates of an insured’s remaining years. If all of the insured lives in the Company’s life settlement portfolio live six months shorter or longer than the life expectancies provided by these third parties, the change in fair market value would be as follows (dollars in thousands):
	Life Expectancy Months Adjustment		Value			Change in Value
	6			95,658			(17,783	)
	—			113,441			—
	-6			132,540			19,099
	As noted above, the Company takes an average, or blend, of the two life expectancy reports to derive a composite mortality factor, unless the difference in the probability of mortality between the reports is greater than 150%. In such instances and as reflected in the fair market value at December 31, 2012, the Company will cap the higher mortality factor at amount that is 150% above the lower mortality factor , which ultimately reduces the mortality factor inputted into the Company’s fair value model. At December 31, 2012, had the Company not implemented such a cap on affected policies, the fair value of the Company’s portfolio would have increased from the reported amount by $9.5 million. Additionally, the Company lengthened the life expectancy inputs to its fair value model on 45 policies with life expectancy reports that were more than two years old at December 31, 2012 based on the average lengthening reported on the 149 policies where update life expectancy reports were received. Had the Company not implemented such an adjustment on affected policies, the fair value of the Company’s portfolio would have increased from the reported amount by $5.8 million.
	The Company believes that investors in esoteric assets such as life insurance policies typically target yields averaging between 12%—17% for investments of more than a 5 year duration, and had historically used a 15%—17% range of discount rates to value its life insurance policies. In the third quarter of 2011 and in the immediate aftermath of becoming aware of the USAO investigation, the Company substantially increased the discount rates inputted into its fair value model as it believed the USAO Investigation along with certain unfavorable court decisions unrelated to the Company contributed to a contraction in the marketplace that has continued to reverberate. Since that time, the Company has been re-evaluating its discount rates at the end of every reporting period in order to reflect the estimated discount rates that could reasonably be used in a market transaction involving the Company’s portfolio of life insurance policies. In doing so, the Company relies on management insight, engages third party consultants to corroborate its assessment, engages in discussions with other market participants and potential financing sources and extrapolates the discount rate underlying actual sales of policies.
	Although the Company believes that its entry into the Non-Prosecution Agreement had a positive effect on the market generally and for premium financed life insurance policies specifically, the Company believes that, when given the choice to invest in a policy that was associated with the Company’s premium finance business and a similar policy without such an association, all else being equal, an investor would have generally opted to invest in the policy that was not associated with the Company’s premium finance business. However, since entering into the Non-Prosecution Agreement, investors have required less of a risk premium to transact in these policies and the Company expects that, in time, investors will continue to require less of a risk premium to transact in policies associated with its premium finance business. Accordingly, the Company expects that its discount rates for policies associated with its premium finance business will continue to decrease in future periods.
	As of December 31, 2012, the Company owned 214 policies with an aggregate investment in life settlements of $113.4 million. Of these 214 policies, 171 were previously premium financed and are valued using discount rates that range from 16.80% to 33.80%. The remaining 43 policies are valued using discount rates that range from 14.80% to 21.30%. The discount rate incorporates current information about market interest rates, the credit exposure to the insurance company that issued the life insurance policy and our estimate of the risk premium an investor in the policy would require. The extent to which the fair value could vary in the near term has been quantified by evaluating the effect of changes in the weighted average discount rate on the death benefit used to estimate the fair value. If the weighted average discount rate were increased or decreased by 1/2 of 1% and the other assumptions used to estimate fair value remained the same, the change in fair market value would be as follows (dollars in thousands):
	Weighted Average Rate		Rate Adjustment			Value			Change in Value
	23.51%			-0.5	%		116,300			2,859
	24.01%			—			113,441			—
	24.51%			0.5	%		110,694			(2,747	)
	Future changes in the discount rates we use to value life insurance policies could have a material effect on our yield on life settlement transactions, which could have a material adverse effect on our business, financial condition and results of our operations.
	At the end of each reporting period we re-value the life insurance policies using our valuation model in order to update our loan impairment valuation for loans receivable and our estimate of fair value for investments in policies held on our balance sheet. This includes reviewing our assumptions for discount rates and life expectancies as well as incorporating current information for premium payments and the passage of time.
Use of Estimates	'
	Use of Estimates
	The preparation of these consolidated financial statements, in conformity with accounting principles generally accepted in the United States of America, requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from these estimates and such differences could be material. Significant estimates made by management include the loan impairment valuation, allowance for doubtful accounts, the valuation of structured settlements and the valuation of investments in life settlements.
Change in Accounting Estimate	'
	Change in Accounting Estimate
	The Company has elected to account for the life settlement policies it acquired using the fair value method. The fair value is determined on a discounted cash flow basis, incorporating current life expectancy, expected premiums and discount rate assumptions (see Note 15). During the first quarter of 2011, the Company made revisions to the application of its valuation technique and assumptions used to measure fair value of the life settlement policies it acquired. The Company accounted for this change in accounting estimate prospectively in accordance with ASC 250-10-45-17, Change in Accounting Estimate, resulting in recognition of a pretax gain of $3.0 million recorded in unrealized change in fair value of life settlements in the accompanying consolidated statement of operations for the year ended December 31, 2011.
	The Company’s decision to revise its fair value calculations used to value all life insurance policies on hand at March 31, 2011 was driven by two factors. Firstly, with consideration to the wind-down of the lender protection insurance coverage (LPIC) program which ended on December 31, 2010, the value of the collateral serving the Company’s new lending activity is no longer determined primarily by the limit of liability provided by the LPIC coverage. Instead, the value of the collateral is based solely on the Company’s valuation model. Secondly, as a result of the Company’s initial public offering in February, 2011 and the new capital structure provided by it, the Company planned to build and retain a large and diversified pool of life policies.
	As discussed above, the Company uses a discounted cash flow model to calculate the fair value of its life insurance policy portfolio. That model is based on three principal factors: life expectancy, expected premiums and the discount rate. As discussed in Note 15, the Company began receiving updated life expectancy reports on the insureds represented in the Company’s portfolio of life insurance policies during 2012. As a result, the calculation of the life expectancy and discount rate inputs have changed. While the Company is endeavoring to obtain updated life expectancy reports for all of its policies, at December 31, 2012, the Company had only received updated life expectancies for 149 of the 214 policies in its portfolio. All updated reports that were obtained have been blended and inputted in the Company’s fair value model at December 31, 2012, which drove a decline of $31.3 million in the fair market value of the portfolio of life insurance policies during the year ended December 31, 2012. This decline was partially offset by premium payments, accretion due to the passage of time, and other changes to the Company’s fair value model, which resulted in a net unrealized change in fair value of approximately $5.7 million during the year ended December 31, 2012.
Cash and Cash Equivalents	'
	Cash and Cash Equivalents
	Cash and cash equivalents include cash on hand, investments and all highly liquid instruments purchased with an original maturity of three months or less. The Company maintains the majority of its cash in several operating accounts with one commercial bank. Included in cash and cash equivalents is $110,000 and $3.0 million to be used by the Company to service policies as part of servicing a portfolio of life insurance policies for a third party as of December 31, 2012 and 2011, respectively. We also have a related servicing liability of $110,000 and $3.0 million which is included in other liabilities in the accompanying consolidated balance sheet as of December 31, 2012, and 2011, respectively.
Investment Securities Available for Sale	'
	Investment Securities Available for Sale
	Investment securities available for sale are carried at fair value, inclusive of unrealized gains and losses, and net of discount accretion and premium amortization computed using the level yield method. Net unrealized gains and losses are included in other comprehensive income (loss) net of applicable income taxes. Gains or losses on sales of investment securities available for sale are recognized on the specific identification basis.
	Management evaluates securities for other than-temporary-impairment on a quarterly basis. Impairment is evaluated considering numerous factors, and their relative significance varies depending on the situation. Factors considered include the Company’s intent to hold the security until maturity or for a period of time sufficient for a recovery in value, whether it is more likely than not that the Company will be required to sell the security prior to recovery of its amortized cost basis, the length of time and extent to which fair value has been less than amortized cost, the historical and implied volatility of the fair value of the security, failure of the issuer of the security to make scheduled interest or principal payments, any changes to the rating of the security by a rating agency and recoveries or additional declines in fair value subsequent to the balance sheet date.
Gain on Maturities of Life Settlements with Subrogation Rights, net	'
	Gain on Maturities of Life Settlements with Subrogation Rights, net
	Every credit facility entered into by subsidiaries of the Company between December 2007 and December 2010 to finance the premium finance lending business required lender protection insurance for each loan originated under such credit facility. Generally, when the Company exercises its right to foreclose on collateral the Company’s lender protection insurer has the right to direct control or take beneficial ownership of the life insurance policy, subject to the terms and conditions of the lender protection insurance policy, including notice and timing requirements. Otherwise, the lender protection insurer maintains its salvage collection and subrogation rights. The lender protection insurer’s salvage collection and subrogation rights generally provide a remedy by which the insurer can seek to recover the amount of the lender protection claim paid plus premiums paid by it, expenses and interest thereon.
	In those instances where the Company has foreclosed on the collateral, the lender protection insurer has maintained its salvage collection and subrogation rights, and has been covering the cost of the ongoing premiums needed to maintain certain of these life insurance policies. However, the lender protection insurer may elect at any time to discontinue the payment of premiums which would result in lapse of the policies if the Company does not otherwise pay the premiums. The Company views these policies as having uncertain value because the lender protection insurer controls what happens to the policy from a payment of premium standpoint, and the amount of the lender protection insurer’s salvage collection and subrogation claim rights on any individual life insurance policy could equal the cash flow received by the Company with respect to any such policy. For these reasons, , the Company does not rely on these policies for revenue generation, and these policies are considered contingent assets and not included in the amount of life insurance policies on the accompanying consolidated balance sheet.
	The Company accounts for the maturities of life insurance policies with subrogation rights, net of subrogation expenses as contingent gains in accordance with ASC 450, Contingencies and recognizes the revenue from the maturities of these policies when all contingencies are resolved.
Loan Impairment Valuation	'
	Loan Impairment Valuation
	In accordance with ASC 310, Receivables, the Company specifically evaluates all loans for impairment based on the fair value of the underlying policies as collectability is primarily collateral dependent. The loans are considered to be collateral dependent as the repayment of the loans is expected to be provided by the underlying insurance policies. In the event of default of a loan, the Company has the option to take control of the underlying life insurance policy enabling it to sell the policy or, for those loans that are insured (see below), collect the face value of the insurance certificate.
	The loan impairment valuation is evaluated on a monthly basis by management and is based on management’s periodic review of the fair value of the underlying collateral. This evaluation is inherently subjective as it requires estimates that are susceptible to significant revision as more information becomes available. The loan impairment valuation is established when, based on current information and events, it is probable that the Company will be unable to collect the scheduled payments of principal, interest, and origination fee due according to the contractual terms of the loan agreement. Once established, the impairment cannot be reversed to earnings.
	The Company purchased lender protection insurance coverage on loans that were sold to or participated by Imperial Life Financing, LLC, Imperial PFC Financing, LLC, Imperial Life Financing II, LLC, and Imperial PFC Financing II, LLC. This insurance mitigates the Company’s exposure to significant losses which may be caused by declines in the value of the underlying life insurance policies. For loans that have lender protection insurance coverage, a loan impairment valuation adjustment is established if the carrying value of the loan exceeds the amount of coverage at the end of the period.
	For the year ended December 31, 2012 the Company recognized an impairment charge of approximately $437,000 and $78,000 on the loans and related interest, respectively, and is reflected as a component of the provision for losses on loans receivable in the accompanying consolidated statement of operations. For the year ended December 31, 2011, the Company recognized an impairment charge of approximately $6.8 million and $796,000 related to impaired loans and interest, respectively. For the year ended December 31, 2010, the Company recognized an impairment charge of approximately $2.3 million and $2.2 million related to impaired loans and interest, respectively. See Notes 10, 14 and 15 to the accompanying consolidated financial statements.
Agency Fees Receivable	'
	Agency Fees Receivable
	Agency fees are charged for services related to premium finance transactions. Agency fees are due per the signed fee agreement. Agency fees receivable are reported net of an allowance for doubtful accounts.
	Management’s determination of the allowance for doubtful accounts is based on an evaluation of the commission receivable, prior collection history, current economic conditions, and other inherent risks. The Company reviews agency fees receivable aging on a regular basis to determine if any of the receivables are past due. The Company writes off all uncollectible agency fee receivable balances against its allowance. The allowance for doubtful accounts was approximately $260,000 as of December 31, 2012 and 2011.
Deferred Costs	'
	Deferred Costs
	Deferred costs include costs incurred in connection with acquiring and maintaining credit facilities and costs incurred in connection with securing lender protection insurance. These costs are amortized over the life of the related loan using the effective interest method and are classified as amortization of deferred costs in the accompanying consolidated statement of operations.
Interest Income and Origination Income	'
	Interest Income and Origination Income
	Interest income consists of interest earned on loans receivable, income from accretion of discounts on purchased loans. Interest income is recognized when it is realizable and earned, in accordance with ASC 605, Revenue Recognition. Discounts are accreted over the remaining life of the loan using the effective interest method.
	Loans often include origination fees which are fees payable to the Company on the date the loan matures. The fees are negotiated at the inception of the loan on a transaction by transaction basis. The fees are accreted into income over the term of the loan using the effective interest method.
	Payments on loans are not due until maturity of the loan. As such, we typically do not have non-performing loans or non-accrual loans until post maturity of the loan. At maturity, the loans stop earning interest and origination income.
	Interest and origination income on impaired loans is recognized when it is realizable and earned accordance with ASC 605, Revenue Recognition. Persuasive evidence of an arrangement exists through a loan agreement which is signed by a borrower prior to funding and sets forth the agreed upon terms of the interest and origination fees. Interest income and origination income are earned over the term of the loan and are accreted using the effective interest method. The interest and origination fees are fixed and determinable based on the loan agreement. For impaired loans, we continually reassess whether the collectability of the interest income and origination income is reasonably assured because the fair value of the collateral typically increases over the term of the loan. Our assessment of whether collectability of interest income and origination income is probable is based on our estimate of proceeds to be received upon maturity of the loan. To the extent that additional interest income is not recognized as collectability is not considered probable, origination income is not recognized. This is consistent with the objective of the interest method, as described in ASC 310-20, of maintaining a constant effective yield on the net investment in the receivable. Since our loans are due upon maturity, we cannot determine whether a loan is performing or non-performing until maturity. For impaired loans, our estimate of proceeds to be received upon maturity of the loan is generally correlated to our current estimate of fair value of the insurance policy, which is the measure to which the loans have been impaired, but also incorporates expected increases in fair value of the insurance policy over the term of the loan, trends in the market, and our experience with loan payoffs.
Revenue/Income Recognition	'
	Revenue/Income Recognition
	Our primary sources of revenue/income are in the form of unrealized change in fair value of life settlements, agency fees, interest income, origination fee income, servicing income and gains on maturities of life settlements with subrogation rights, net. Our revenue/income recognition policies for these sources of revenue/income are as follows:
		•		Unrealized Change in Fair Value of Life Settlements—When the Company acquires life insurance policies we initially record these investments at the transaction price, which is the fair value of the policy for those acquired upon relinquishment or the amount paid for policies acquired for cash. The fair value of the investment in insurance policies is evaluated at the end of each reporting period. Changes in the fair value of the investment based on evaluations are recorded as changes in fair value of life settlements in our consolidated statement of operations. The fair value is determined on a discounted cash flow basis that incorporates current life expectancy assumptions. The discount rate incorporates current information about market interest rates, the credit exposure to the insurance company that issued the life insurance policy and our estimate of the risk premium an investor in the policy would require.
		•		Agency Fees—Agency fees were paid by the referring life insurance agents based on negotiations between the parties and were recognized at the time a life finance loan is funded. Because agency fees are not paid by the borrower, such fees do not accrue over the term of the loan. A separate origination fee was charged to the borrower which is amortized into income over the life of the loan.
		•		Interest Income—Interest income on life finance loans is recognized when it is realizable and earned, in accordance with ASC 605, Revenue Recognition. Discounts on structured settlement receivables are accreted over the life of the settlement using the effective interest method.
		•		Origination Fee Income—Loans often include origination fees that are fees payable to us on the date the loan matures. The fees are negotiated at the inception of the loan on a transaction by transaction basis. The fees are accreted into income over the term of the loan using the effective interest method.
		•		Servicing Income—Servicing income is recorded when services are provided. Servicing income is primarily from servicing a portfolio of life insurance policies controlled by a third party. These services include verifying premiums are paid and correctly applied and updating files for medical history and ongoing premiums.
Fixed Assets	'
	Fixed Assets
	Fixed assets are stated at cost less accumulated depreciation and amortization. The Company provides for depreciation of fixed assets on a straight-line basis over the estimated useful lives of the assets which range from three to five years. Leasehold improvements are amortized using the straight-line method over the shorter of the expected life of the improvement or the remaining lease term.
Intangible Assets	'
	Intangible Assets
	Intangible assets represents amounts the Company paid to a third party in a settlement agreement to acquire the rights, title and interest to the domain name “Imperial.com” for a price of $160,000, and is included in prepaid expenses and other assets in the accompanying consolidated balance sheet. The domain name is being amortized using the straight-line method over its estimated useful life.
Loss on Loan Payoffs and Settlements, Net	'
	Loss on Loan Payoffs and Settlements, Net
	When a premium finance loan matures, we record the difference between the net carrying value of the loan and the cash received, or the fair value of the life insurance policy that is obtained in the event of payment default, as a gain or loss on loan payoffs and settlements, net. This account was significantly impacted by the Acorn settlement whereby the Company recorded a loss on loan payoffs and settlements of zero and $4.1 million during the years ended December 31, 2012 and 2011, respectively.
Fair Value Measurements	'
	Fair Value Measurements
	The Company follows ASC 820, Fair Value Measurements and Disclosures when required to measure fair value for recognition or disclosure purposes. ASC 820 defines fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. ASC 820 also establishes a three-level hierarchy for fair value measurements which prioritizes and ranks the level of market price observability used in measuring investments at fair value. Investments measured and reported at fair value are classified and disclosed in one of the following categories:
	Level 1—Valuation is based on unadjusted quoted prices in active markets for identical assets and liabilities that are accessible at the reporting date. Since valuations are based on quoted prices that are readily and regularly available in an active market, valuation of these products does not entail a significant degree of judgment.
	Level 2—Valuation is determined from pricing inputs that are other than quoted prices in active markets that are either directly or indirectly observable as of the reporting date. Observable inputs include quoted prices for similar assets or liabilities in active markets, quoted prices for identical or similar assets or liabilities in markets that are not active, and interest rates and yield curves that are observable at commonly quoted intervals.
	Level 3—Valuation is based on inputs that are both significant to the fair value measurement and unobservable. Level 3 inputs include situations where there is little, if any, market activity for the financial instrument. The inputs into the determination of fair value generally require significant management judgment or estimation.
	The availability of valuation techniques and observable inputs can vary from investment to investment and is affected by a wide variety of factors including, the type of investment, whether the investment is new and not yet established in the marketplace, and other characteristics particular to the transaction.
	To the extent that valuation is based on models or inputs that are less observable or unobservable in the market, the determination of fair value requires more judgment. Those estimated values do not necessarily represent the amounts that may be ultimately realized due to the occurrence of future circumstances that cannot be reasonably determined. Because of the inherent uncertainty of valuation, those estimated values may be materially higher or lower than the values that would have been used had a ready market for the investments existed. Accordingly, the degree of judgment exercised by the Company in determining fair value of assets and liabilities is greatest for items categorized in Level 3. In certain cases, the inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, for disclosure purposes, the level in the fair value hierarchy within which the fair value measurement in its entirety falls is determined based on the lowest level input that is significant to the fair value measurement.
	Fair value is a market-based measure considered from the perspective of a market participant rather than an entity-specific measure. Therefore, even when market assumptions are not readily available, the Company’s own assumptions are set to reflect those that market participants would use in pricing the asset or liability at the measurement date. The Company uses prices and inputs that are current as of the reporting date, including periods of market dislocation. In periods of market dislocation, the observability of prices and inputs may be reduced for many investments. This condition could cause an investment to be reclassified to a lower level within the fair value hierarchy (see Note 15).
Income Taxes	'
	Income Taxes
	Prior to our initial public offering in 2011, we converted from a Florida limited liability company to a Florida corporation (the “Conversion”). Prior to the Conversion we were treated as a partnership for federal and state income tax purposes. As a partnership our taxable income and losses were attributed to our members, and accordingly, no provision or liability for income taxes was reflected in the accompanying consolidated financial statements for periods prior to the Conversion.
	After the Conversion, we began to account for income taxes in accordance with ASC 740, Income Taxes. Under ASC 740, deferred income taxes are determined based on the estimated future tax effects of differences between the financial statement and tax basis of assets and liabilities given the provisions of enacted tax laws. Deferred income tax provisions and benefits are based on changes to the assets or liabilities from year to year. In providing for deferred taxes, we consider tax regulations of the jurisdictions in which we operate, estimates of future taxable income and available tax planning strategies. If tax regulations, operating results or the ability to implement tax-planning strategies varies, adjustments to the carrying value of the deferred tax assets and liabilities may be required. Valuation allowances are based on the “more likely than not” criteria of ASC 740.
	At December 31, 2012 and 2011, due to the large losses and the uncertainties that resulted from the USAO Investigation, SEC investigation, Non-Prosecution Agreement and class action lawsuits, we recorded a full valuation allowance against our net deferred tax asset of $27.8 million and $11.1 million, respectively, as it is more likely than not that the net deferred tax asset is not realizable. As a result of these increases in the valuation allowance, we recorded no income tax benefit for 2012 and 2011.
	The accounting for uncertain tax positions guidance under ASC 740 requires that we recognize the financial statement benefit of a tax position only after determining that the relevant tax authority would more likely than not sustain the position following an audit. For tax positions meeting the more-likely-than-not threshold, the amount recognized in the financial statements is the largest benefit that has a greater than 50 percent likelihood of being realized upon ultimate settlement with the relevant tax authority. We recognize interest and penalties (if any) on uncertain tax positions as a component of income tax expense.
	The Company’s corporate income tax returns for all years are subject to examination. Various state jurisdiction tax years remain open to examination.
	In February of 2013 the Company was notified by the Internal Revenue Service of its intention to examine the Company’s partnership return for the year ended December 31, 2010. Audit field work for this examination has not been scheduled.
Stock-Based Compensation	'
	Stock-Based Compensation
	We have adopted ASC 718, Compensation—Stock Compensation. ASC 718 addresses accounting for share-based awards, including stock options, with compensation expense measured using fair value and recorded over the requisite service or performance period of the award. The fair value of equity instruments issued upon or after the closing of our offering will be determined based on a valuation using an option pricing model which takes into account various assumptions that are subjective. Key assumptions used in the valuation will include the expected term of the equity award taking into account both the contractual term of the award, the effects of expected exercise and post-vesting termination behavior, expected volatility, expected dividends and the risk-free interest rate for the expected term of the award.
Earnings Per Share	'
	Earnings Per Share
	The Company computes net income per share/unit in accordance with ASC 260, Earnings Per Share. Under the provisions of ASC 260, basic net income per share is computed by dividing the net income available to common shareholders by the weighted average common shares outstanding during the period. Diluted net income per share adjusts basic net income per share for the effects of stock options and restricted stock awards only in periods in which such effect is dilutive. ASC 260 also requires the Company to present basic and diluted earnings per share information separately for each class of equity instruments that participate in any income distribution with primary equity instruments.
Restricted Cash	'
	Restricted Cash
	The Cedar Lane credit facility requires the Company to retain 2% of the principal amount of each loan made to the borrower, for the purposes of indemnifying the facility for any breaches of representations, warranties or covenants of the borrower, as well as to fund collection efforts, if required. As of December 31, 2012 and December 31, 2011 the Company’s consolidated financial statements reflected balances of approximately $1.2 million and $691,000 included in restricted cash, respectively (see Note 23).
Gain on Sale of Life Settlements	'
	Gain on Sale of Life Settlements
	Gain on sale of life settlements includes gain from company-owned life settlements.
Risks and Uncertainties	'
	Risks and Uncertainties
	In the normal course of business, the Company encounters economic, legal and longevity risk. There are three main components of economic risk: credit risk, market risk and concentration of credit risk. Credit risk is the risk of default on the Company’s loan portfolio that results from a borrower’s inability or unwillingness to make contractually required payments. Market risk for the Company includes interest rate risk. Market risk also reflects the risk of declines in valuation of the Company’s investments, including declines caused by the selection of increased discount rates associated with the Company’s fair value model for investments in life settlements. It is reasonably possible that future changes to estimates involved in valuing life settlements could change and result in material effects to the future financial statements. Concentration of credit risk includes both the risk that lenders under the Company’s structured settlement financing facilities do not fund the purchase of structured settlement receivables when contractually obligated to do so and also includes the risk that an insurance carrier who has issued life insurance policies held by the Company in its portfolio does not remit the amount due under those policies upon policy maturities due to the deteriorating financial condition of the carrier or otherwise. Legal risk includes the risk that statutes define or courts interpret insurable interest in a manner adverse to the Company’s ownership rights in its portfolio of life insurance policies and the risk that courts allow insurance carriers to retain premiums paid by the Company in respect of insurance policies that have been successfully rescinded or contested. Longevity risk refers to the risk that the Company does not experience the mortalities of insureds in its portfolio of life insurance policies that are anticipated to occur on an actuarial basis in a timely manner, which would result in the Company expending additional amounts for the payment of premiums. See Note 18, Commitments and Contingencies.
Investment in Other Companies	'
	Investment in Other Companies
	The Company uses the equity method of accounting to account for its investment in other companies which the Company does not control but over which it exerts significant influence; generally this represents ownership interest of at least 20% and not more than 50%. The Company considers whether the fair values of any of its investments have declined below their carrying values whenever adverse events or changes in circumstances indicate that recorded values may not be recoverable. If the Company considers any such decline to be other than temporary, a write-down would be recorded to estimated fair value. During 2010, the Company wrote-off its entire investment in MXT as the Company determined that the estimated fair value of its investment in MXT was zero and the decline was other than temporary.
Held for Sale and Discontinued Operations	'
	Held-for-sale and discontinued operations: The Company reports a business as held-for-sale when management has approved or received approval to sell the business and is committed to a formal plan, the business is available for immediate sale, the business is being actively marketed, the sale is anticipated to occur during the ensuing year and certain other specified criteria are met. A business classified as held-for-sale is recorded at the lower of its carrying amount or estimated fair value less cost to sell. If the carrying amount of the business exceeds its estimated fair value, a loss is recognized. Depreciation is not recorded on assets of a business classified as held-for-sale. Assets and liabilities related to a business classified as held-for-sale are segregated in the Consolidated Balance Sheet and major classes are separately disclosed in the notes to the Consolidated Financial Statements commencing in the period in which the business is classified as held-for-sale. The Company reports the results of operations of a business as discontinued operations if the business is classified as held-for-sale, the operations and cash flows of the business have been or will be eliminated from the ongoing operations of the Company as a result of a disposal transaction and the Company will not have any significant continuing involvement in the operations of the business after the disposal transaction. The results of discontinued operations are reported in Discontinued Operations in the Consolidated Statement of Operations for current and prior periods commencing in the period in which the business meets the criteria of a discontinued operation, and include any gain or loss recognized on closing or adjustment of the carrying amount to fair value less cost to sell (see Note 5).
Reclassifications	'
	Reclassifications
	Certain reclassifications of the prior period amounts and presentation have been made to conform to the presentation for the current period.
Recent Accounting Pronouncements	'
	Recent Accounting Pronouncements
	In May 2011, the FASB issued Accounting Standards Update (ASU) No. 2011-04, Fair Value Measurement (Topic 820): Amendments to Achieve Fair Value Measurement and Disclosure Requirements in U.S. GAAP and IFRSs. This update clarifies existing guidance about how fair value should be applied where it already is required or permitted and provides wording changes that align this standard with International Financial Reporting Standards (IFRS). We are required to apply this guidance prospectively beginning with our first quarterly filing in 2012. The adoption of this new guidance has not had an impact on our financial position or results of operations.
	June 2011, the FASB issued ASU No. 2011-05, Comprehensive Income (Topic 220): Presentation of Comprehensive Income. This update increases the prominence of other comprehensive income in financial statements, eliminating the option of presenting other comprehensive income in the statement of changes in equity, and instead, requiring the components of net income and comprehensive income to be presented in either one or two consecutive financial statements. We are required to comply with this guidance prospectively beginning with our first quarterly filing in 2012. The adoption of this new guidance has not had an impact on our financial position or results of operations.
	In September 2011, the FASB issued ASU No. 2011-08, Intangibles–Goodwill and Other (Topic 350): Testing Goodwill for Impairment. This update allows entities testing goodwill for impairment the option of performing a qualitative assessment before calculating the fair value of the reporting unit (i.e., step one of the two-step goodwill impairment test). If entities determine, on the basis of qualitative factors, that the fair value of the reporting unit is more likely than not less than the carrying amount, the two-step impairment test would be required. The amendments are effective for annual and interim goodwill impairment tests performed for fiscal years beginning after December 15, 2011. The adoption of this new guidance has not had an impact on our financial position or results of operations.
	In December 2011, the FASB issued ASU No. 2011-12, Comprehensive Income (Topic 220): Deferral of the Effective Date for Amendments to the Presentation of Reclassifications of Items Out of Accumulated Other Comprehensive Income in Accounting Standards Update No. 2011-05. This update delays the effective date of the requirement to present reclassification adjustments for each component of accumulated other comprehensive income in both net income and other comprehensive income on the face of the financial statements.
	In February 2013, the FASB issued ASU No. 2013-02, Reporting of Amounts Reclassified Out of Accumulated Other Comprehensive Income. This update adds new disclosure requirements for items reclassified out of accumulated other comprehensive income. We are required to apply this guidance prospectively beginning with our first quarterly filing in 2013. The adoption of this new guidance will not impact our financial position or statement of operations, other than changes in presentation.

Fair_Value_Measurements_Tables

Fair Value Measurements (Tables)	12 Months Ended
	Dec. 31, 2012
Life Expectancies	'
	If all of the insured lives in the Company’s life settlement portfolio live six months shorter or longer than the life expectancies provided by these third parties, the change in fair market value would be as follows (dollars in thousands):
	Life Expectancy Months Adjustment	Value			Change in Value
	6		95,658			(17,783	)
	—		113,441			—
	-6		132,540			19,099
Market Interest Rate Sensitivity Analysis	'
	Weighted Average Rate	Rate Adjustment			Value			Change in Value
	23.51%		-0.5	%		116,300			2,859
	24.01%		—			113,441			—
	24.51%		0.5	%		110,694			(2,747	)
Assets Measured at Fair Value on Recurring Basis	'
	The balances of the Company’s assets measured at fair value on a recurring basis as of December 31, 2012, are as follows (in thousands):
		Level 1			Level 2			Level 3			Total
											Fair Value
	Assets:
	Investment in life settlements	$	—		$	—		$	113,441		$	113,441
	Structured settlement receivables		—			—			1,680			1,680
	Investment securities available for sale		—			12,147			—			12,147
		$	—		$	12,147		$	115,121		$	127,268
	The balances of the Company’s assets measured at fair value on a recurring basis as of December 31, 2011, are as follows (in thousands):
		Level 1			Level 2			Level 3			Total
											Fair Value
	Assets:
	Investment in life settlements	$	—		$	—		$	90,917		$	90,917
	Structured settlement receivables		—			—			12,376			12,376
	Investment securities available for sale		—			57,242			—			57,242
		$	—		$	57,242		$	103,293		$	160,535
Quantative Information About Level 3 Fair Value Measurements	'
	($ in thousands)				Quantitative Information about Level 3 Fair Value Measurements
		Fair Value			Aggregate			Valuation Technique (s)		Unobservable Input	Range
		at  12/31/12			death  benefit						( Weighted Average)
					12/31/12
	Non-premium financed	$	36,039		$	206,450		Discounted cash flow		Discount rate	14.80% - 21.30%
										Life expectancy evaluation	9.1 years
	Premium financed		77,402			866,706		Discounted cash flow		Discount rate	16.80% - 33.80%
										Life expectancy evaluation	10.9 years
	Investment in life settlements	$	113,441		$	1,073,156		Discounted cash flow		Discount rate	-24.01%
										Life expectancy evaluation	(10.6 years)
	Structured settlements receivables	$	1,680					Discounted cash flow		Facility sales discount rates	6.25% - 15.35%
Changes in Fair value for All Assets using Material Level of Unobservable (Level 3) Inputs	'
	The following tables provide a roll-forward in the changes in fair value for the year ended December 31, 2012, for all assets for which the Company determines fair value using a material level of unobservable (Level 3) inputs (in thousands):
	Life Settlements:
	Balance, December 31, 2011	$	90,917
	Purchase of policies		130
	Acquired in foreclosure		5,724
	Unrealized change in fair value		(5,660	)
	Transfers into level 3		—
	Transfers out of level 3		—
	Sale of policies		(5,334	)
	Premiums paid		27,804
	Policies lapsed/written off		(140	)
	Balance, December 31, 2012	$	113,441
	Changes in fair value included in earnings for the period relating to assets held at December 31, 2012	$	(5,898	)
	The Company recorded unrealized change in fair value of approximately $5.7 million and a gain of approximately $570,000 for the year ended December 31, 2012 and 2011, respectively.
	Structured Settlements:
	Balance, December 31, 2011	$	12,376
	Purchase of contracts		24,313
	Unrealized change in fair value		1,823
	Sale of contracts		(36,615	)
	Collections		(217	)
	Transfers into level 3		—
	Transfers out of level 3		—
	Balance, December 31, 2012	$	1,680
	Changes in fair value included in earnings for the period relating to assets held at December 31, 2012	$	255
	The following tables provide a roll-forward in the changes in fair value for the year ended December 31, 2011, for all assets for which the Company determines fair value using a material level of unobservable (Level 3) inputs (in thousands).
	Life Settlements:
	Balance, December 31, 2010	$	17,138
	Purchase of policies		50,480
	Acquired in foreclosure		6,409
	Unrealized change in fair value		570
	Premiums paid		16,320
	Transfers into Level 3		—
	Transfers out of Level 3		—
	Balance, September 30, 2011	$	90,917
	Changes in fair value included in earnings for the period relating to assets held at December 31, 2011	$	570
	Structured Settlements:
	Balance, December 31, 2010	$	1,446
	Purchase of contracts		27,545
	Unrealized change in fair value		5,302
	Sale of contracts		(21,723	)
	Collections		(194	)
	Transfers into Level 3		—
	Transfers out of Level 3		—
	Balance, September 30, 2011		12,376
	Changes in fair value included in earnings for the period relating to assets held at December 31, 2011	$	4,218
Market Approach Valuation Technique	'
Market Interest Rate Sensitivity Analysis	'
	Market interest rate sensitivity analysis
	Weighted Average Rate Calculated Based on Death Benefit	Rate Adjustment			Value			Change in Value
	23.51%		-0.5	%		116,300			2,859
	24.01%		—			113,441			—
	24.51%		0.5	%		110,694			(2,747	)
Changes in fair market value, If all of the insured lives in the Company's life settlement portfolio live six months longer than the life expectancies provided by third parties.	'
Life Expectancies	'
	If all of the insured lives in the Company’s life settlement portfolio live six months shorter or longer than the life expectancies provided by these third parties, the change in fair market value would be as follows (dollars in thousands):
	Life Expectancy Months Adjustment	Value			Change in Value
	6		95,658			(17,783	)
	-		113,441			—
	-6		132,540			19,099

Earnings_Per_Share_Tables

Earnings Per Share (Tables)	12 Months Ended
	Dec. 31, 2012
Reconciliation of Actual Basic and Diluted Earnings Per Share	'
	The following tables reconcile actual basic and diluted earnings per share for the years ended December 31, 2012, 2011 and 2010 (in thousands except per share data).
			2012			2011			2010
	Loss per share:
	Numerator:
	Net loss from continuing operations		$	(42,019	)	$	(33,774	)	$	(13,047	)
	Net loss from discontinued operations			(2,615	)		(5,424	)		(2,650	)
	Net loss		$	(44,634	)	$	(39,198	)	$	(15,697	)
	Basic loss per common share:
	Basic loss per share from continuing operations		$	(1.98	)	$	(1.75	)	$	(3.62	)
	Basic loss per share from discontinued operations			(0.12	)		(0.28	)		(0.74	)
	Basic loss per share available to common shareholders		$	(2.10	)	$	(2.03	)	$	(4.36	)
	Diluted loss per common share:
	Diluted loss per share from continuing operations(1)(2)		$	(1.98	)	$	(1.75	)	$	(3.62	)
	Diluted loss per share from discontinued operations(1)(2)			(0.12	)		(0.28	)		(0.74	)
	Diluted loss per share available to common shareholders(1)(2)		$	(2.10	)	$	(2.03	)	$	(4.36	)
	Denominator:
	Basic			21,205,747			19,352,063			3,600,000
	Diluted(1)(2)			21,205,747			19,352,063			3,600,000
	-1	The computation of diluted EPS did not include 487,314 options and 4,240,521 warrants for the year ended December 31, 2012, as the effect of their inclusion would have been anti-dilutive.
	-2	The computation of diluted EPS did not include 627,419 options, 4,240,521 warrants and 3,507 shares of restricted stock for the year ended December 31, 2011, as the effect of their inclusion would have been anti-dilutive.
Reconciliation of Pro Forma Basic and Diluted Earnings Per Share	'
			2011			2010
	Loss per share:
	Numerator:
	Net loss from continuing operations(1)(3)		$	(33,596	)	$	(9,986	)
	Net loss from discontinued operations(1)(3)			(5,424	)		(2,650	)
	Net loss(1)(3)		$	(39,020	)	$	(12,636	)
	Basic loss per common share:
	Basic loss per share from continuing operations		$	(1.74	)	$	(2.77	)
	Basic loss per share from discontinued operations			(0.28	)		(0.74	)
	Basic loss per share available to common shareholders		$	(2.02	)	$	(3.51	)
	Diluted loss per common share:
	Diluted loss per share from continuing operations(2)		$	(1.74	)	$	(2.77	)
	Diluted loss per share from discontinued operations(2)			(0.28	)		(0.74	)
	Diluted loss per share available to common shareholders(2)		$	(2.02	)	$	(3.51	)
	Denominator:
	Basic			19,352,063			3,600,000
	Diluted(2)			19,352,063			3,600,000
	-1	Reflects a reduction of interest expense $178,000, net of tax and $3.1 million for the years ended December 31, 2011 and 2010, respectively, due to the conversion of our promissory note in favor of IMPEX Enterprises, Ltd. into shares of our common stock, which occurred prior to the closing of our initial public offering, and the conversion of our promissory note in favor of Branch Office of Skarbonka Sp. z o.o into a $30.0 million debenture, and the conversion of that $30.0 million debenture into shares of our common stock, which occurred immediately prior to the closing of our initial public offering.
	-2	The computation of diluted EPS did not include 627,419 options, 4,240,521 warrants and 3,507 shares of restricted stock for the year ended December 31, 2011, as the effect of their inclusion would have been anti-dilutive.
	-3	For the pro forma period for the years ended December 31, 2011 and 2010, the results of the Company being treated for the pro forma presentation as a “C” corporation resulted in no impact to the consolidated balance sheet or statement of operations. The primary reasons for this are that the losses produce no current benefit and any net operating losses generated and other deferred assets (net of liabilities) at that time would have been fully reserved due to historical operating losses. The Company, therefore, has not recorded any pro forma tax provision.

Discontinued_Operations_Tables

Discontinued Operations (Tables)	12 Months Ended
	Dec. 31, 2012
Operating results of structured settlement business	'
	Operating results related to the Company’s structured settlement business are as follows:
		Year Ended December 31,
		2012			2011			2010
		(in thousands)
	Total income	$	13,995		$	11,933		$	9,530
	Total expenses		(16,610	)		(17,357	)		(12,180	)
	Loss before income taxes		(2,615	)		(5,424	)		(2,650	)
	Income tax expense		—			—			—
	Loss from discontinued operations, net of income taxes	$	(2,615	)	$	(5,424	)	$	(2,650	)

Fixed_Assets_Tables

Fixed Assets (Tables)	12 Months Ended
	Dec. 31, 2012
Summary of Fixed Assets	'
	Fixed assets at December 31, 2012 and 2011 are summarized as follows (in thousands):
		For the Year Ended December 31,
		2012		2011
	Computer software and equipment	$	2,288	$	2,222
	Furniture, fixtures and equipment		670		1,046
	Leasehold improvements		773		666
			3,731		3,934
	Less: Accumulated depreciation		3,514		3,379
	Fixed assets, net	$	217	$	555

Investment_Securities_Availabl1

Investment Securities Available for Sale (Tables)	12 Months Ended
	Dec. 31, 2012
Amortized Cost and Estimated Fair Values of Securities Available for Sale	'
	The amortized cost and estimated fair values of securities available for sale at December 31, 2012 are as follows (in thousands):
		December 31, 2012
	Description of Securities	Amortized		Gross  Unrealized			Gross  Unrealized			Estimated
		Cost		Gains			Losses			Fair  Value
	Corporate bonds	$	8,275		25		$	(67	)	$	8,233
	Government bonds		3,524		76			—			3,600
	Other bonds		310		4			—			314
	Total available for sale securities	$	12,109	$	105		$	(67	)	$	12,147
	The amortized cost and estimated fair values of securities available for sale at December 31, 2011 are as follows (in thousands):
		December 31, 2011
	Description of Securities	Amortized		Gross  Unrealized			Gross  Unrealized			Estimated
		Cost		Gains			Losses			Fair  Value
	Corporate bonds	$	41,697		32		$	(127	)	$	41,602
	Government bonds		14,789		39			(9	)		14,819
	Other bonds		821		—			—			821
	Total available for sale securities	$	57,307	$	71		$	(136	)	$	57,242
Scheduled Maturities of Securities by Contractual Maturity	'
	The scheduled maturities of securities at December 31, 2012, by contractual maturity, are shown below. Expected maturities may differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties (in thousands).
		December 31, 2012
		Amortized		Estimated
		Cost		Fair  Value
	Due in one year or less	$	6,172	$	6,197
	Due after one year but less than five years		2,413		2,350
	Due after five years but less than ten years		3,524		3,600
	Total available for sale securities	$	12,109	$	12,147
	The scheduled maturities of securities at December 31, 2011, by contractual maturity, are shown below. Expected maturities may differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties (in thousands).
		December 31, 2011
		Amortized		Estimated
		Cost		Fair  Value
	Due in one year or less	$	25,904	$	25,892
	Due after one year but less than five years		20,243		20,160
	Due after five years but less than ten years		11,160		11,190
	Total available for sale securities	$	57,307	$	57,242
Securities in Continuous Unrealized Loss Position	'
	Information pertaining to securities with gross unrealized losses at December 31, 2012, aggregated by investment category and length of time that the individual securities have been in a continuous unrealized loss position is as follows (in thousands):
		December 31, 2012
		Less than 12 Months					12 Months or More					Total
	Description of Securities	Estimated		Unrealized			Estimated			Unrealized		Estimated		Unrealized
		Fair  Value		Loss			Fair  Value			Loss		Fair  Value		Loss
	Corporate bonds		1,932		(67	)		—			—		1,932		(67	)
	Government bonds		—		—			—			—		—		—
	Other bonds		—		—			—			—		—		—
	Total available for sale securities	$	1,932	$	(67	)	$	—		$	—	$	1,932	$	(67	)
	Information pertaining to securities with gross unrealized losses at December 31, 2011, aggregated by investment category and length of time that the individual securities have been in a continuous unrealized loss position is as follows (in thousands):
		December 31, 2011
		Less than 12 Months					12 Months or More					Total
	Description of Securities	Estimated		Unrealized			Estimated			Unrealized		Estimated		Unrealized
		Fair  Value		Loss			Fair  Value			Loss		Fair  Value		Loss
	Corporate bonds		26,051		(127	)							26,051		(127	)
	Government bonds		5,927		(9	)							5,927		(9	)
	Other bonds		—		—								—		—
	Total available for sale securities	$	31,978	$	(136	)	$	—		$	—	$	31,978	$	(136	)

Loans_Receivable_Tables

Loans Receivable (Tables)	12 Months Ended
	Dec. 31, 2012
Summary of Loans Receivable	'
	A summary of loans receivables at December 31, 2012 and 2011 is as follows (in thousands):
			2012			2011
	Loan principal balance		$	5,255		$	31,264
	Loan origination fees, net			1,157			8,307
	Loan impairment valuation			(3,368	)		(10,195	)
	Loans receivable, net		$	3,044		$	29,376
Changes In Loans Receivable Principal Balance	'
	An analysis of the changes in loans receivable principal balance during the years ended December 31, 2012 and 2011 is as follows (in thousands):
			2012			2011
	Loan principal balance, beginning		$	31,264		$	76,939
	Loan originations			—			18,385
	Subsequent year premiums paid, net of reimbursement			—			339
	Loan write-offs			—			(3,058	)
	Loan payoffs			(17,116	)		(55,277	)
	Loans transferred to investments in life settlements			(8,893	)		(6,064	)
	Loan principal balance, ending		$	5,255		$	31,264
Analysis of Loan Impairment Valuation	'
	An analysis of the loan impairment valuation for the year ended December 31, 2012 is as follows (in thousands):
			Loans			Interest			Total
			Receivable			Receivable
	Balance at beginning of period		$	10,195		$	1,920		$	12,115
	Provision for loan losses			437			78			515
	Charge-offs			(7,264	)		(1,051	)		(8,315	)
	Balance at end of period		$	3,368		$	947		$	4,315
	An analysis of the loan impairment valuation for the year ended December 31, 2011 is as follows (in thousands):
			Loans			Interest			Total
			Receivable			Receivable
	Balance at beginning of period		$	7,176		$	1,340		$	8,516
	Provision for loan losses			6,793			796			7,589
	Charge-offs			(3,774	)		(216	)		(3,990	)
	Balance at end of period		$	10,195		$	1,920		$	12,115
	An analysis of the loan impairment valuation for the year ended December 31, 2010 is as follows (in thousands):
			Loans			Interest			Total
			Receivable			Receivable
	Balance at beginning of period		$	11,599		$	1,788		$	13,387
	Provision for loan losses			2,276			2,200			4,476
	Charge-offs			(8,205	)		(2,647	)		(10,852	)
	Recoveries			1,506			—			1,506
	Balance at end of period		$	7,176		$	1,341		$	8,517
Analysis of Allowance for Loan Losses and Recorded Investment in Loans by Loan Type	'
	An analysis of the allowance for loan losses and recorded investment in loans by loan type for the year ended December 31, 2012 is as follows (in thousands):
			Uninsured			Insured			Total
			Loans			Loans
	Loan impairment valuation
	Balance at beginning of period		$	6,914		$	3,281		$	10,195
	Provision for loan losses			—			437			437
	Charge-offs			(4,222	)		(3,042	)		(7,264	)
	Ending balance		$	2,692		$	676		$	3,368
	Ending balance: individually evaluated for impairment		$	2,692		$	676		$	3,368
	An analysis of the allowance for loan losses and recorded investment in loans by loan type for the year ended December 31, 2011 is as follows (in thousands):
			Uninsured			Insured			Total
			Loans			Loans
	Loan impairment valuation
	Balance at beginning of period		$	888		$	6,288		$	7,176
	Provision for loan losses			6,774			19			6,793
	Charge-offs			(748	)		(3,026	)		(3,774	)
	Ending balance		$	6,914		$	3,281		$	10,195
	Ending balance: individually evaluated for impairment		$	6,914		$	3,281		$	10,195
	An analysis of the allowance for loan losses and recorded investment in loans by loan type for the year ended December 31, 2010 is as follows (in thousands):
			Uninsured			Insured			Total
			Loans			Loans
	Loan impairment valuation
	Balance at beginning of period		$	1,983		$	9,616		$	11,599
	Provision for loan losses			—			2,276			2,276
	Charge-offs			(2,601	)		(5,604	)		(8,205	)
	Recoveries			1,506			—			1,506
	Ending balance		$	888		$	6,288		$	7,176
	Ending balance: individually evaluated for impairment		$	888		$	6,288		$	7,176
Analysis of Credit Ratings	'
	An analysis of the credit quality indicators by loan type at December 31, 2012 is presented in the following table (dollars in thousands):
			Uninsured						Insured(1)
	S&P Designation		Unpaid			Percent			Unpaid			Percent
			Principal						Principal
			Balance						Balance
	AAA		$	—			0	%	$	—			0	%
	AA+			—			0	%		—			0	%
	AA			—			0	%		—			0	%
	AA-			2,072			43.58	%		408			81.44	%
	A+			2,548			53.97	%		93			18.56	%
	A1			—			0	%		—			0	%
	A			—			0	%		—			0	%
	BB-			134			2.45	%		—			0	%
	Total		$	4,754			100	%	$	501			100	%
	An analysis of the credit quality indicators by loan type at December 31, 2011 is presented in the following table (dollars in thousands):
			Uninsured						Insured(1)
	S&P Designation		Unpaid			Percent			Unpaid			Percent
			Principal						Principal
			Balance						Balance
	AAA		$	—			0	%	$	—			0	%
	AA+			694			5.09	%		222			1.26	%
	AA			—			0	%		—			0	%
	AA-			6,558			48.05	%		9,085			51.57	%
	A+			3,060			22.42	%		1,287			7.31	%
	A1			—			0	%		—			0	%
	A			3,336			24.44	%		7,022			39.86	%
	BB-			—			0	%		—			0	%
	Total		$	13,648			100	%	$	17,616			100	%
	-1	All of the Company’s insured loans have lender protection coverage with Lexington Insurance Company. As of December 31, 2012, Lexington had a financial strength rating of “A” with a stable outlook by Standard & Poors (S&P).
Summary of Investment In Impaired Loans	'
	A summary of our investment in impaired loans at December 31, 2012 and 2011 is as follows (in thousands):
			2012			2011
	Loan receivable, net		$	3,011		$	17,424
	Interest receivable, net			724			6,799
	Investment in impaired loans		$	3,735		$	24,223
Impaired Loans With and Without Related Allowance	'
	An analysis of impaired loans with and without a related allowance at December 31, 2012 is presented in the following table by loan type (in thousands):
			Recorded			Unpaid			Related			Average			Interest
			Investment			Principal			Allowance			Recorded			Income
						Balance						Investment			Recognized
	With no related allowance recorded:
	Uninsured Loans		$	—		$	—		$	—		$	—		$	—
	Insured Loans			—			—			—			—			—
	With an allowance recorded:
	Uninsured Loans			3,623			4,735			3,413			6,887			1,444
	Insured Loans			112			501			902			7,091			227
	Total Impaired Loans		$	3,735		$	5,236		$	4,315		$	13,978		$	1,671
	An analysis of impaired loans with and without a related allowance at December 31, 2011 is presented in the following table by loan type (in thousands):
			Recorded			Unpaid			Related			Average			Interest
			Investment			Principal			Allowance			Recorded			Income
						Balance						Investment			Recognized
	With no related allowance recorded:
	Uninsured Loans		$	—		$	—		$	—		$	—		$	—
	Insured Loans			—			—			—			—			—
	With an allowance recorded:
	Uninsured Loans			10,153			13,628			6,894			6,764			1,684
	Insured Loans			14,070			10,391			3,301			24,847			3,195
	Total Impaired Loans		$	24,223		$	24,019		$	10,195		$	31,611		$	4,879
Analysis of Unpaid Principal Balance of Past Due Loans	'
	An analysis of past due at December 31, 2012 is presented in the following table by loan type (in thousands):
			30-59 Days			60-89 Days			Greater Than			Total
			Past Due			Past Due			90 Days			Past  Due
									Past Due
	Uninsured Loans		$	—		$	—		$	599		$	599
	Insured Loans			—			—			315			315
	Total		$	—		$	—		$	914		$	914
	An analysis of past due at December 31, 2011 is presented in the following table by loan type (in thousands):
			30-59 Days			60-89 Days			Greater Than			Total
			Past Due			Past Due			90  Days			Past  Due
									Past Due
	Uninsured Loans		$	—		$	—		$	599		$	599
	Insured Loans			1,570			—			—			1,570
	Total		$	1,570		$	—		$	599		$	2,169

Origination_Fees_Tables

Origination Fees (Tables)	12 Months Ended
	Dec. 31, 2012
Summary of Balance of Origination Fees	'
	A summary of the balances of origination fees that are included in loans receivable in the consolidated balance sheet as of December 31 is as follows (in thousands):
		2012			2011
	Loan origination fees gross	$	1,334		$	10,844
	Un-accreted origination fees		(190	)		(2,666	)
	Amortized loan originations costs		13			129
		$	1,157		$	8,307

StockBased_Compensation_Tables

Stock-Based Compensation (Tables)	12 Months Ended
	Dec. 31, 2012
Assumptions Used	'
	Assumptions used for the periods covered herein, are outlined in the table below:
		Year Ended
		December 31, 2011
	Expected Volatility		54.18% – 54.23	%
	Expected Dividend		0	%
	Expected Term in Years		4.5
	Risk Free Rate		2.16% – 2.29	%
Activity of Outstanding Stock Options	'
	The following table presents the activity of the Company’s outstanding stock options of common stock for the year ended December 31, 2012:
	Common Stock Options	Number  of			Weighted		Weighted		Aggregate
		Shares			Average  Price		Average		Intrinsic
					per Share		Remaining		Value
							Contractual
							Term
	Options outstanding, December 31, 2011		627,419			—		—	$	—
	Options granted		—		$	10.75		6.11	$	—
	Options exercised		—			—		—		—
	Options forfeited		(140,105	)		10.75		—		—
	Options expired		—			—		—		—
	Options outstanding, December 31, 2012		487,314		$	10.75		5.11	$	—
	Exercisable at December 31, 2012		287,988			10.74		5.11	$	—
	Unvested at December 31, 2012		199,326		$	10.75		5.11	$	—
Activity of Unvested Restricted Common Shares	'
	The following table presents the activity of the Company’s unvested restricted common shares for the year ended December 31, 2012:
	Common Unvested Shares	Number of
		Shares
	Outstanding December 31, 2011		3,507
	Granted		—
	Vested		(3,507	)
	Forfeited		—
	Outstanding December 31, 2012		—

Structured_Settlements_Tables

Structured Settlements (Tables)	12 Months Ended
	Dec. 31, 2012
Balances of Structured Settlements	'
	The balances of the Company’s structured settlements are as follows (in thousands):
		December 31,		December 31,
		2012		2011
	Structured settlements—at cost	$	1,574	$	1,553
	Structured settlements—at fair value		1,680		12,376
	Structured settlements receivable, net	$	3,254	$	13,929

Investment_in_Life_Settlements1

Investment in Life Settlements (Life Insurance Policies) (Tables)	12 Months Ended
	Dec. 31, 2012
Investment in Life Settlements	'
	The weighted average life expectancy calculated based on death benefit of insureds in the policies owned by the Company at December 31, 2012 was 10.6 years. The following table describes the Company’s investment in life settlements as of December 31, 2012 (dollars in thousands):
	Remaining Life Expectancy (In Years)	Number of		Fair		Face
		Life  Settlement		Value		Value
		Contracts
	0 - 1		—	$	—	$	—
	2-Jan		—		—		—
	3-Feb		1		1,222		2,500
	4-Mar		4		3,319		11,450
	5-Apr		7		11,375		30,950
	Thereafter		202		97,525		1,028,256
	Total		214		113,441		1,073,156
	The weighted average life expectancy calculated based on death benefit of insureds in the policies owned by the Company at December 31, 2011 was 10.6 years. The following table describes the Company’s investment in life settlements as of December 31, 2011 (in thousands):
	Remaining Life Expectancy (In Years)	Number of		Fair		Face
		Life  Settlement		Value		Value
		Contracts
	0 – 1		—	$	—	$	—
	1 – 2		1		3,033		5,000
	2 – 3		2		2,484		4,500
	3 – 4		4		7,084		20,200
	4 – 5		3		2,357		7,950
	Thereafter		180		75,959		897,816
	Total		190		90,917		935,466
Estimated Premiums To Be Paid	'
	Premiums to be paid for each of the five succeeding fiscal years to keep the life insurance policies in force as of December 31, 2012, are as follows (in thousands):
	2013		27,703
	2014		26,281
	2015		26,533
	2016		26,978
	2017		28,002
	Thereafter		324,884
		$	460,381

Notes_and_Debenture_Payable_Ta

Notes and Debenture Payable (Tables)	12 Months Ended
	Dec. 31, 2012
Principal Balances of Notes Payable	'
	A summary of the principal balances of notes payable included in the consolidated balance sheet as of December 31, 2012 and 2011 is as follows (in thousands):
		Total Notes Payable
		December 31,		December 31,
		2012		2011
	Cedar Lane	$	—	$	19,104
	White Oak, Inc.		—		173
	Total		—		19,277

Commitments_and_Contingencies_

Commitments and Contingencies (Tables)	12 Months Ended
	Dec. 31, 2012
Minimum Rental Commitments Under Operating Leases	'
	Future minimum payments under operating leases for years subsequent to December 31, 2012 are as follows:
	Year Ended December 31,
	2013	$	547,051
	2014		477,183
		$	1,024,234

Summary_Of_Quarterly_Financial1

Summary Of Quarterly Financial Data (Tables)	12 Months Ended
	Dec. 31, 2012
Summary Of Quarterly Financial Information	'
	These reclassifications had no net impact on the results of operations (in thousands).
		Fiscal 2012
		1st Quarter			2nd Quarter			3rd Quarter			4th Quarter
	Total income		6,733			12,214			(16,940	)		3,081
	(Loss) income from operations		(7,150	)		(350	)		(30,316	)		(4,242	)
	Net (loss) income from continuing operations		(7,109	)		(350	)		(30,311	)		(4,249	)
		Fiscal 2011
		1st Quarter			2nd Quarter			3rd Quarter			4th Quarter
	Total income		22,807			26,510			(5,125	)		(11,911	)
	Income/(Loss) from operations		9,232			15,358			(19,116	)		(39,248	)
	Net Income/(Loss) from continuing operations		1,236			14,175			(11,289	)		(37,896	)

Income_Taxes_Tables

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2012
Provision (Benefit) for Income Taxes	'
	The provision (benefit) for income taxes consisted of (in thousands):
		12/31/12			12/31/11
	Current
	Federal	$	—		$	—
	State		—			—
			—			—
	Deferred
	Federal	$	(14,377	)	$	(9,474	)
	State		(2,391	)		(1,575	)
			(16,768	)		(11,049	)
	Valuation allowance increase	$	16,729			11,049
	Benefit for income taxes	$	(39	)	$	—
Actual Provision (Benefit) for Income Taxes from Continuing operations Differ from Federal Expected Income Tax Provision	'
	The Company’s actual provision (benefit) for income taxes from continuing operations differ from the Federal expected income tax provision as follows (in thousands):
		2012						2011
		Amount			Rate			Amount			Rate
	Tax Benefit at statutory rate	$	(15,636	)		35	%	$	(13,719	)		35	%
	Increase (decrease) in taxes resulting from:
	State tax (net of federal benefit)		(1,555	)		3.48			(1,045	)		2.67
	Pre-conversion loss		—			—			678			(1.73	)
	Pre-conversion deferred tax asset		—			—			223			(0.57	)
	Other		423			(0.94	)		14			(0.04	)
	Department of Justice settlement		—			—			2,800			(7.14	)
	Valuation allowance increase		16,729			(37.45	)		11,049			(28.19	)
	Benefit for income taxes	$	(39	)		0.09	%	$	—			0	%
Significant Portions of Deferred Tax Assets and Tax Liabilities	'
	The tax effects of temporary differences that give rise to significant portions of the deferred tax assets and tax liabilities were (in thousands):
		December 31,			December 31,
		2012			2011
	Deferred tax assets:
	Federal and State net operating loss carryforward	$	25,454		$	13,488
	Allowance for doubtful accounts		1,969			3,362
	Unrealized loss on available for sale investment securities		—			25
	Unrealized loss on life and structured settlements, net		1,813			—
	Litigation reserves		2,324			68
	Other		693			704
	Total gross deferred tax assets		32,253			17,647
	Less valuation allowance		(27,803	)		(11,074	)
	Total deferred tax assets		4,450			6,573
	Deferred tax liabilities:
	Unrealized gains on life and structured settlements		—			5,075
	Gain on structured settlements deferred for tax purposes		4,436			1,498
	Unrealized gain on available for sale investment securities		14			—
	Other		—			—
	Total gross deferred tax liabilities		4,450			6,573
	Total net deferred tax asset (liability)	$	—		$	—
Reconciliation of Total Amounts of Unrecognized Benefits	'
	A reconciliation of the total amounts of unrecognized benefits at the beginning and end of the period was as follows (in thousands):
		December 31,			December 31,
		2012			2011
	Balance as of beginning of period	$	6,295		$	—
	Additions based on tax positions taken in the current year		—			6,295
	Reductions of tax positions for prior years		—			—
	Balance as of end of period	$	6,295		$	6,295

Recovered_Sheet1

Organization And Description of Business Activities - Additional Information (Detail) (USD $)	1 Months Ended			12 Months Ended			1 Months Ended
	Feb. 28, 2011	Feb. 15, 2011	Feb. 11, 2011	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010	Oct. 25, 2013	Mar. 27, 2013	Mar. 27, 2013	Mar. 27, 2013
				Segment			Subsequent Event	Subsequent Event	Subsequent Event	Subsequent Event
							Structured settlements	Bridge facility	Bridge facility	Bridge facility
								Greenwood Asset Portfolio, LLC	Greenwood Asset Portfolio, LLC	Greenwood Asset Portfolio, LLC
								M	For Nine Months	After Nine Months
Organization and Nature of Operations [Line Items]	'	'	'	'	'	'	'	'	'	'
Number of reportable segments	'	'	'	2	'	'	'	'	'	'
Sale of common stock in initial public offering	17,602,614	935,947	16,666,667	'	'	'	'	'	'	'
Common stock price per share	$10.75	'	$10.75	'	'	'	'	'	'	'
Proceeds from initial public offering	$174,200,000	'	'	'	$174,233,000	'	'	'	'	'
Number of policies	'	'	'	12	'	'	'	'	'	'
US Government ongoing investigation for criminal conduct	'	'	'	8,000,000	'	'	'	'	'	'
Non-Prosecution Agreement terms description	'	'	'	'The Non-Prosecution Agreement has a term of three years until April 30, 2015, but after April 30, 2014 the Company may petition the USAO to forego the final year of the Non-Prosecution Agreement, if we otherwise comply with all of our obligations under the Non-Prosecution Agreement.	'	'	'	'	'	'
Non-Prosecution Agreement terms	'	'	'	'3 years	'	'	'	'	'	'
Cash, cash equivalents, and marketable securities	'	'	'	20,300,000	'	'	'	'	'	'
Restricted cash	'	'	'	1,162,000	691,000	'	'	'	'	'
Bridge loan amount	'	'	'	'	'	'	'	45,000,000	'	'
Term loan period	'	'	'	'	'	'	'	18	'	'
Percentage of proceed from debt issuance	'	'	'	'	'	'	'	92.00%	'	'
Transaction expense	'	'	'	'	2,644,000	24,434,000	'	41,400,000	'	'
Percentage of net proceeds from credit facility that may be used for general corporate purposes	'	'	'	'	'	'	'	25.00%	'	'
Interest under the facility	'	'	'	'	'	'	'	'	12.00%	18.00%
Sale of its structured settlement business	'	'	'	'	'	'	$12,000,000	'	'	'

Summary_of_Significant_Account2

Summary of Significant Accounting Policies - Additional Information (Detail) (USD $)	3 Months Ended	12 Months Ended
	Sep. 30, 2012	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010	Dec. 31, 2009
		Contract	Contract
Organization And Basis Of Presentation [Line Items]	'	'	'	'	'
Mortality rate	100.00%	100.00%	'	'	'
Maximum mortality rate	150.00%	150.00%	'	'	'
Life settlement contracts, fair value method, change in expectations	'As noted above, the Company takes an average, or blend, of the two life expectancy reports to derive a composite mortality factor, unless the probability of mortality between the reports is greater than 150%. In such instances and as reflected in the fair market value at September 30, 2012, the Company will cap the higher mortality factor at amount that is 150% above the lower mortality factor , which ultimately reduces the mortality factor inputted into the Company's fair value model.	'As noted above, the Company takes an average, or blend, of the two life expectancy reports to derive a composite mortality factor, unless the difference in the probability of mortality between the reports is greater than 150%. In such instances and as reflected in the fair market value at December 31, 2012, the Company will cap the higher mortality factor at amount that is 150% above the lower mortality factor , which ultimately reduces the mortality factor inputted into the Companybs fair value model.	'	'	'
Change in fair value of portfolios	'	$9,500,000	'	'	'
Number of life settlement contracts	'	214	190	'	'
Investment in life settlements	'	113,441,000	90,917,000	'	'
Unrealized change in fair value of life settlements	'	-5,660,000	570,000	10,156,000	'
Decline in the fair market value of the Company's portfolio of life insurance policies	'	-31,300,000	'	'	'
Unrealized change in fair value of life settlements	'	5,700,000	'	'	'
Cash and cash equivalents	'	7,001,000	16,255,000	14,224,000	15,891,000
Servicing liability	'	110,000	3,000,000	'	'
Cash and cash equivalents maturity period	'	'3 months	'	'	'
Impairment charges related to loans	'	437,000	6,800,000	2,300,000	'
Impairment charges related to interest	'	78,000	796,000	2,200,000	'
Allowance for doubtful accounts	'	260,000	260,000	'	'
Intangible Assets	'	160,000	'	'	'
Loss on loan payoffs and settlements	'	-125,000	-3,837,000	-4,981,000	'
Deferred tax assets valuation allowance	'	27,803,000	11,074,000	'	'
Income tax benefit	'	-39,000	'	'	'
Percentage of principal amount of loan retained	'	2.00%	'	'	'
Restricted cash	'	1,162,000	691,000	'	'
Acorn International Inc	'	'	'	'	'
Organization And Basis Of Presentation [Line Items]	'	'	'	'	'
Loss on loan payoffs and settlements	'	0	4,100,000	'	'
Service Policies	'	'	'	'	'
Organization And Basis Of Presentation [Line Items]	'	'	'	'	'
Cash and cash equivalents	'	110,000	3,000,000	'	'
Change in Accounting Estimate	'	'	'	'	'
Organization And Basis Of Presentation [Line Items]	'	'	'	'	'
Unrealized change in fair value of life settlements	'	'	3,000,000	'	'
Effect of increase in valuation allowance	'	'	'	'	'
Organization And Basis Of Presentation [Line Items]	'	'	'	'	'
Income tax benefit	'	0	0	'	'
More than two years old at December 31,2012	'	'	'	'	'
Organization And Basis Of Presentation [Line Items]	'	'	'	'	'
Number of life settlement contracts	'	45	'	'	'
Life expectancy reports were received	'	'	'	'	'
Organization And Basis Of Presentation [Line Items]	'	'	'	'	'
Number of life settlement contracts	'	149	'	'	'
Increase Due To Adjustment	'	'	'	'	'
Organization And Basis Of Presentation [Line Items]	'	'	'	'	'
Change in fair value of portfolios	'	5,800,000	'	'	'
Previously Premium Financed	'	'	'	'	'
Organization And Basis Of Presentation [Line Items]	'	'	'	'	'
Number of life settlement contracts	'	171	'	'	'
Non-Premium not Financed	'	'	'	'	'
Organization And Basis Of Presentation [Line Items]	'	'	'	'	'
Number of life settlement contracts	'	43	'	'	'
Minimum	'	'	'	'	'
Organization And Basis Of Presentation [Line Items]	'	'	'	'	'
Accumulated depreciation and amortization on estimated useful lives	'	'3 years	'	'	'
Ownership Interest	'	20.00%	'	'	'
Minimum | Previously Premium Financed	'	'	'	'	'
Organization And Basis Of Presentation [Line Items]	'	'	'	'	'
Discount rates	'	16.80%	'	'	'
Minimum | Non-Premium not Financed	'	'	'	'	'
Organization And Basis Of Presentation [Line Items]	'	'	'	'	'
Discount rates	'	14.80%	'	'	'
Maximum	'	'	'	'	'
Organization And Basis Of Presentation [Line Items]	'	'	'	'	'
Accumulated depreciation and amortization on estimated useful lives	'	'5 years	'	'	'
Ownership Interest	'	50.00%	'	'	'
Maximum | Previously Premium Financed	'	'	'	'	'
Organization And Basis Of Presentation [Line Items]	'	'	'	'	'
Discount rates	'	33.80%	'	'	'
Maximum | Non-Premium not Financed	'	'	'	'	'
Organization And Basis Of Presentation [Line Items]	'	'	'	'	'
Discount rates	'	21.30%	'	'	'
Life Finance	'	'	'	'	'
Organization And Basis Of Presentation [Line Items]	'	'	'	'	'
Investment term	'	'5 years	'	'	'
Life Finance | Minimum	'	'	'	'	'
Organization And Basis Of Presentation [Line Items]	'	'	'	'	'
Expected yield rate	'	12.00%	'	'	'
Discount rates	'	15.00%	'	'	'
Life Finance | Maximum	'	'	'	'	'
Organization And Basis Of Presentation [Line Items]	'	'	'	'	'
Expected yield rate	'	17.00%	'	'	'
Discount rates	'	17.00%	'	'	'
Life Expectancy Additional Update Received	'	'	'	'	'
Organization And Basis Of Presentation [Line Items]	'	'	'	'	'
Number of life settlement contracts	'	214	'	'	'
Life Expectancy Update Received	'	'	'	'	'
Organization And Basis Of Presentation [Line Items]	'	'	'	'	'
Number of life settlement contracts	'	149	'	'	'
MXT	'	'	'	'	'
Organization And Basis Of Presentation [Line Items]	'	'	'	'	'
Investment in Other Companies	'	'	'	$0	'
Impaired life bearing	'	'	'	'	'
Organization And Basis Of Presentation [Line Items]	'	'	'	'	'
Mortality rate	200.00%	200.00%	'	'	'

Changes_in_Life_Expectancy_Use

Changes in Life Expectancy Used to Estimate Fair Value Policy (Detail) (USD $)	12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'	'
Value	$113,441	$90,917	'
Change in Value	151	5	1,951
+6 Life Expectancy Months Adjustment	'	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'	'
Value	95,658	'	'
Change in Value	-17,783	'	'
-6 Life Expectancy Months Adjustment	'	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'	'
Value	132,540	'	'
Change in Value	$19,099	'	'

Changes_in_Weighted_Average_Di

Changes in Weighted Average Discount Rate Used to Estimate Fair Value Policy (Detail) (USD $)	12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'	'
Weighted Average Rate	24.01%	'	'
Value	$113,441	$90,917	'
Change in Value	151	5	1,951
.50% Decrease in Discount Rate	'	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'	'
Weighted Average Rate	23.51%	'	'
Value	116,300	'	'
Change in Value	2,859	'	'
.50% Increase in Discount Rate	'	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'	'
Weighted Average Rate	24.51%	'	'
Value	110,694	'	'
Change in Value	($2,747)	'	'

Earnings_Per_Share_Additional_

Earnings Per Share - Additional Information (Detail) (USD $)	1 Months Ended				12 Months Ended
In Thousands, except Share data, unless otherwise specified	Feb. 28, 2011	Feb. 15, 2011	Feb. 11, 2011	Feb. 03, 2011	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]	'	'	'	'	'	'	'
Common stock, shares outstanding	'	'	'	3,600,000	21,206,121	21,202,614	'
Common stock, shares issued	'	'	'	'	21,206,121	21,202,614	'
Conversion of Impex debt and membership units into common shares (shares)	'	'	'	2,300,273	'	'	'
Issuance of common stock, shares	17,602,614	935,947	16,666,667	'	'	'	'
Conversion of debt to common stock	'	'	'	'	'	$35,158	'
Interest expense	'	'	'	'	1,255	8,524	28,155
Pro Forma	'	'	'	'	'	'	'
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]	'	'	'	'	'	'	'
Conversion of Impex debt and membership units into common shares (shares)	'	'	'	'	2,300,273	'	'
Issuance of common stock, shares	'	'	'	'	27,000	'	'
Conversion of debt to common stock	'	'	'	'	30,000	'	'
Conversion of debt to common stock (shares)	'	'	'	'	1,272,727	'	'
Interest expense	'	'	'	'	'	$178	$3,100

Reconciliation_of_Actual_Basic

Reconciliation of Actual Basic and Diluted Earnings Per Share (Detail) (USD $)

3 Months Ended

12 Months Ended

In Thousands, except Share data, unless otherwise specified

Dec. 31, 2012

Sep. 30, 2012

Jun. 30, 2012

Mar. 31, 2012

Dec. 31, 2011

Sep. 30, 2011

Jun. 30, 2011

Mar. 31, 2011

Dec. 31, 2012

Dec. 31, 2011

Dec. 31, 2010

Numerator:

'

'

'

'

'

'

'

'

'

'

'

Net loss from continuing operations

'

'

'

'

'

'

'

'

($42,019)

($33,774)

($13,047)

Net loss from discontinued operations

'

'

'

'

'

'

'

'

-2,615

-5,424

-2,650

Net loss

($4,249)

($30,311)

($350)

($7,109)

($37,896)

($11,289)

$14,175

$1,236

($44,634)

($39,198)

($15,697)

Basic loss per common share:

'

'

'

'

'

'

'

'

'

'

'

Basic earning per share

'

'

'

'

'

'

'

'

($2.10)

($2.03)

($4.36)

Diluted loss per common share:

'

'

'

'

'

'

'

'

'

'

'

Diluted earning per share

'

'

'

'

'

'

'

'

($2.10)

[1],[2]

($2.03)

[1],[2]

($4.36)

[1],[2]

Denominator:

'

'

'

'

'

'

'

'

'

'

'

Basic

'

'

'

'

'

'

'

'

21,205,747

19,352,063

3,600,000

Diluted

'

'

'

'

'

'

'

'

21,205,747

[1],[2]

19,352,063

[1],[2]

3,600,000

[1],[2]

Continuing Operations

'

'

'

'

'

'

'

'

'

'

'

Basic loss per common share:

'

'

'

'

'

'

'

'

'

'

'

Basic earning per share

'

'

'

'

'

'

'

'

($1.98)

($1.75)

($3.62)

Diluted loss per common share:

'

'

'

'

'

'

'

'

'

'

'

Diluted earning per share

'

'

'

'

'

'

'

'

($1.98)

[1],[2]

($1.75)

[1],[2]

($3.62)

[1],[2]

Discontinued Operation

'

'

'

'

'

'

'

'

'

'

'

Basic loss per common share:

'

'

'

'

'

'

'

'

'

'

'

Basic earning per share

'

'

'

'

'

'

'

'

($0.12)

($0.28)

($0.74)

Diluted loss per common share:

'

'

'

'

'

'

'

'

'

'

'

Diluted earning per share

'

'

'

'

'

'

'

'

($0.12)

[1],[2]

($0.28)

[1],[2]

($0.74)

[1],[2]

[1]

The computation of diluted EPS did not include 487,314 options and 4,240,521 warrants for the year ended December 31, 2012, as the effect of their inclusion would have been anti-dilutive.

[2]

The computation of diluted EPS did not include 627,419 options, 4,240,521 warrants and 3,507 shares of restricted stock for the year ended December 31, 2011, as the effect of their inclusion would have been anti-dilutive.

Reconciliation_of_Actual_Basic1

Reconciliation of Actual Basic and Diluted Earnings Per Share (Parenthetical) (Detail)	12 Months Ended
	Dec. 31, 2012	Dec. 31, 2011
Stock Options	'	'
Schedule of Earnings Per Share, Basic and Diluted, by Common Class [Line Items]	'	'
Antidilutive securities excluded from computation of diluted earnings per share	487,314	627,419
Warrant	'	'
Schedule of Earnings Per Share, Basic and Diluted, by Common Class [Line Items]	'	'
Antidilutive securities excluded from computation of diluted earnings per share	4,240,521	4,240,521
Restricted Stock	'	'
Schedule of Earnings Per Share, Basic and Diluted, by Common Class [Line Items]	'	'
Antidilutive securities excluded from computation of diluted earnings per share	'	3,507

Reconciliation_of_Pro_Forma_Ba

Reconciliation of Pro Forma Basic and Diluted Earnings Per Share (Detail) (USD $)

3 Months Ended

12 Months Ended

In Thousands, except Share data, unless otherwise specified

Dec. 31, 2012

Sep. 30, 2012

Jun. 30, 2012

Mar. 31, 2012

Dec. 31, 2011

Sep. 30, 2011

Jun. 30, 2011

Mar. 31, 2011

Dec. 31, 2012

Dec. 31, 2011

Dec. 31, 2010

Numerator:

'

'

'

'

'

'

'

'

'

'

'

Net loss from continuing operations

'

'

'

'

'

'

'

'

($42,019)

($33,774)

($13,047)

Net loss from discontinued operations

'

'

'

'

'

'

'

'

-2,615

-5,424

-2,650

Net loss

-4,249

-30,311

-350

-7,109

-37,896

-11,289

14,175

1,236

-44,634

-39,198

-15,697

Basic loss per common share:

'

'

'

'

'

'

'

'

'

'

'

Basic earning per share

'

'

'

'

'

'

'

'

($2.10)

($2.03)

($4.36)

Diluted loss per common share:

'

'

'

'

'

'

'

'

'

'

'

Diluted earning per share

'

'

'

'

'

'

'

'

($2.10)

[1],[2]

($2.03)

[1],[2]

($4.36)

[1],[2]

Denominator:

'

'

'

'

'

'

'

'

'

'

'

Basic

'

'

'

'

'

'

'

'

21,205,747

19,352,063

3,600,000

Diluted

'

'

'

'

'

'

'

'

21,205,747

[1],[2]

19,352,063

[1],[2]

3,600,000

[1],[2]

Continuing Operations

'

'

'

'

'

'

'

'

'

'

'

Basic loss per common share:

'

'

'

'

'

'

'

'

'

'

'

Basic earning per share

'

'

'

'

'

'

'

'

($1.98)

($1.75)

($3.62)

Diluted loss per common share:

'

'

'

'

'

'

'

'

'

'

'

Diluted earning per share

'

'

'

'

'

'

'

'

($1.98)

[1],[2]

($1.75)

[1],[2]

($3.62)

[1],[2]

Discontinued Operation

'

'

'

'

'

'

'

'

'

'

'

Basic loss per common share:

'

'

'

'

'

'

'

'

'

'

'

Basic earning per share

'

'

'

'

'

'

'

'

($0.12)

($0.28)

($0.74)

Diluted loss per common share:

'

'

'

'

'

'

'

'

'

'

'

Diluted earning per share

'

'

'

'

'

'

'

'

($0.12)

[1],[2]

($0.28)

[1],[2]

($0.74)

[1],[2]

Pro Forma

'

'

'

'

'

'

'

'

'

'

'

Numerator:

'

'

'

'

'

'

'

'

'

'

'

Net loss from continuing operations

'

'

'

'

'

'

'

'

'

-33,596

[3],[4]

-9,986

[3],[4]

Net loss from discontinued operations

'

'

'

'

'

'

'

'

'

-5,424

[3],[4]

-2,650

[3],[4]

Net loss

'

'

'

'

'

'

'

'

'

($39,020)

[3],[4]

($12,636)

[3],[4]

Basic loss per common share:

'

'

'

'

'

'

'

'

'

'

'

Basic earning per share

'

'

'

'

'

'

'

'

'

($2.02)

($3.51)

Diluted loss per common share:

'

'

'

'

'

'

'

'

'

'

'

Diluted earning per share

'

'

'

'

'

'

'

'

'

($2.02)

[2]

($3.51)

[2]

Denominator:

'

'

'

'

'

'

'

'

'

'

'

Basic

'

'

'

'

'

'

'

'

'

19,352,063

3,600,000

Diluted

'

'

'

'

'

'

'

'

'

19,352,063

[2]

3,600,000

[2]

Pro Forma | Continuing Operations

'

'

'

'

'

'

'

'

'

'

'

Basic loss per common share:

'

'

'

'

'

'

'

'

'

'

'

Basic earning per share

'

'

'

'

'

'

'

'

'

($1.74)

($2.77)

Diluted loss per common share:

'

'

'

'

'

'

'

'

'

'

'

Diluted earning per share

'

'

'

'

'

'

'

'

'

($1.74)

[2]

($2.77)

[2]

Pro Forma | Discontinued Operation

'

'

'

'

'

'

'

'

'

'

'

Basic loss per common share:

'

'

'

'

'

'

'

'

'

'

'

Basic earning per share

'

'

'

'

'

'

'

'

'

($0.28)

($0.74)

Diluted loss per common share:

'

'

'

'

'

'

'

'

'

'

'

Diluted earning per share

'

'

'

'

'

'

'

'

'

($0.28)

[2]

($0.74)

[2]

[1]

The computation of diluted EPS did not include 487,314 options and 4,240,521 warrants for the year ended December 31, 2012, as the effect of their inclusion would have been anti-dilutive.

[2]

The computation of diluted EPS did not include 627,419 options, 4,240,521 warrants and 3,507 shares of restricted stock for the year ended December 31, 2011, as the effect of their inclusion would have been anti-dilutive.

[3]

Reflects a reduction of interest expense $178,000, net of tax and $3.1 million for the years ended December 31, 2011 and 2010, respectively, due to the conversion of our promissory note in favor of IMPEX Enterprises, Ltd. into shares of our common stock, which occurred prior to the closing of our initial public offering, and the conversion of our promissory note in favor of Branch Office of Skarbonka Sp. z o.o into a $30.0 million debenture, and the conversion of that $30.0 million debenture into shares of our common stock, which occurred immediately prior to the closing of our initial public offering.

[4]

For the pro forma period for the years ended December 31, 2011 and 2010, the results of the Company being treated for the pro forma presentation as a "C" corporation resulted in no impact to the consolidated balance sheet or statement of operations. The primary reasons for this are that the losses produce no current benefit and any net operating losses generated and other deferred assets (net of liabilities) at that time would have been fully reserved due to historical operating losses. The Company, therefore, has not recorded any pro forma tax provision.

Reconciliation_of_Pro_Forma_Ba1

Reconciliation of Pro Forma Basic and Diluted Earnings Per Share (Parenthetical) (Detail) (USD $)	12 Months Ended
In Thousands, except Share data, unless otherwise specified	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]	'	'	'
Interest expense	$1,255	$8,524	$28,155
Conversion of debt to common stock	'	35,158	'
Pro Forma	'	'	'
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]	'	'	'
Conversion of debt to common stock	'	30,000	'
After Conversion | Pro Forma	'	'	'
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]	'	'	'
Interest expense	'	$178	$3,100
Stock Options	'	'	'
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]	'	'	'
Antidilutive securities excluded from computation of diluted earnings per share	487,314	627,419	'
Stock Options | Pro Forma	'	'	'
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]	'	'	'
Antidilutive securities excluded from computation of diluted earnings per share	'	627,419	'
Warrant	'	'	'
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]	'	'	'
Antidilutive securities excluded from computation of diluted earnings per share	4,240,521	4,240,521	'
Warrant | Pro Forma	'	'	'
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]	'	'	'
Antidilutive securities excluded from computation of diluted earnings per share	'	4,240,521	'
Restricted Stock	'	'	'
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]	'	'	'
Antidilutive securities excluded from computation of diluted earnings per share	'	3,507	'
Restricted Stock | Pro Forma	'	'	'
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]	'	'	'
Antidilutive securities excluded from computation of diluted earnings per share	'	3,507	'

Deferred_Costs_Additional_Info

Deferred Costs - Additional Information (Detail) (USD $)	12 Months Ended
	Dec. 31, 2012	Dec. 31, 2011
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Line Items]	'	'
Deferred Cost	$7,000	$1,874,000
State surplus taxes on lender protection premiums	3.48%	2.67%
Deferred cost related to securing credit facility	7,000	301,000
Insurance Premiums	'	'
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Line Items]	'	'
Deferred Cost	0	1,100,000
State surplus taxes on lender protection premiums	3.60%	4.00%
State	'	'
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Line Items]	'	'
Deferred Cost	$0	$498,000

Discontinued_Operations_Additi

Discontinued Operations - Additional Information (Detail) (Structured settlements, USD $)	Dec. 31, 2012	Dec. 31, 2011	Oct. 25, 2013
			Subsequent Event
Discontinued Operations [Line Items]	'	'	'
Sale of its structured settlement business	'	'	$12,000,000
Carrying value of fixed assets sold	15,000	30,000	7,000
Recognized a gain on structured settlement assets	'	'	$11,300,000

Operating_Results_Related_to_S

Operating Results Related to Structured Settlement Business (Detail) (USD $)	12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]	'	'	'
Total income	$13,995	$11,933	$9,530
Total expenses	-16,610	-17,357	-12,180
Loss before income taxes	-2,615	-5,424	-2,650
Income tax expense	'	'	'
Loss from discontinued operations, net of income taxes	($2,615)	($5,424)	($2,650)

Deposits_Other_Additional_Info

Deposits - Other - Additional Information (Detail) (USD $)	12 Months Ended
	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010
Deposits And Other Assets [Line Items]	'	'	'
Interest on deposits	$3,500	$3,000	$3,000
Letter of Credit	850,000	'	'
Collateralized amounts for letter of credit	895,000	'	'
Other Credit Facilities	'	'	'
Deposits And Other Assets [Line Items]	'	'	'
Deposits	1,300,000	'	'
Miscellaneous	'	'	'
Deposits And Other Assets [Line Items]	'	'	'
Deposits	78,000	86,000	'
Cedar Lane	'	'	'
Deposits And Other Assets [Line Items]	'	'	'
Deposits	250,000	250,000	'
Surety Bond	'	'	'
Deposits And Other Assets [Line Items]	'	'	'
Guarantee amount for obtaining life settlement licenses	850,000	'	'
Number of states	7	'	'
Guarantee expiration date	'2013-05	'	'
Location 1	'	'	'
Deposits And Other Assets [Line Items]	'	'	'
Deposits	100,000	'	'
Location 2	'	'	'
Deposits And Other Assets [Line Items]	'	'	'
Deposits	100,000	'	'
Location 3	'	'	'
Deposits And Other Assets [Line Items]	'	'	'
Deposits	100,000	'	'
Location 4	'	'	'
Deposits And Other Assets [Line Items]	'	'	'
Deposits	125,000	'	'
Location 5	'	'	'
Deposits And Other Assets [Line Items]	'	'	'
Deposits	$425,000	$425,000	'

Fixed_Assets_Detail

Fixed Assets (Detail) (USD $)	Dec. 31, 2012	Dec. 31, 2011
In Thousands, unless otherwise specified
Property, Plant and Equipment [Line Items]	'	'
Computer software and equipment	$2,288	$2,222
Furniture, fixtures and equipment	670	1,046
Leasehold improvements	773	666
Property, Plant and Equipment, Gross, Total	3,731	3,934
Less: Accumulated depreciation	3,514	3,379
Fixed assets, net	$217	$555

Fixed_Assets_Additional_Inform

Fixed Assets - Additional Information (Detail) (USD $)	12 Months Ended
	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010
Property, Plant and Equipment [Line Items]	'	'	'
Depreciation Expenses	$350,000	$573,000	$669,000
Amortization Expense	11,000	10,000	'
Selling, General and Administrative Expenses	'	'	'
Property, Plant and Equipment [Line Items]	'	'	'
Depreciation Expenses	$9,000	'	'

Gain_on_Maturities_of_Life_Set1

Gain on Maturities of Life Settlements with Subrogation Rights - Additional Information (Detail) (USD $)	3 Months Ended	12 Months Ended
	Sep. 30, 2011	Dec. 31, 2012	Dec. 31, 2011
Insurance Risks [Line Items]	'	'	'
Policy collection, net of subrogation expenses	$3,500,000	'	'
Face value of policy	'	'	10,000,000
Death benefit recognized, net of subrogation expenses	'	'	3,200,000
Subrogation Expenses	'	910,000	312,000
Proceed collected from insurance settlements	'	$6,100,000	'

Amortized_Cost_and_Estimated_F

Amortized Cost and Estimated Fair Values of Securities Available for Sale (Detail) (USD $)	Dec. 31, 2012	Dec. 31, 2011
In Thousands, unless otherwise specified
Schedule of Available-for-sale Securities [Line Items]	'	'
Amortized Cost	$12,109	$57,307
Gross Unrealized Gains	105	71
Gross Unrealized Losses	-67	-136
Estimated Fair Value	12,147	57,242
Corporate Bonds	'	'
Schedule of Available-for-sale Securities [Line Items]	'	'
Amortized Cost	8,275	41,697
Gross Unrealized Gains	25	32
Gross Unrealized Losses	-67	-127
Estimated Fair Value	8,233	41,602
Government Bonds	'	'
Schedule of Available-for-sale Securities [Line Items]	'	'
Amortized Cost	3,524	14,789
Gross Unrealized Gains	76	39
Gross Unrealized Losses	'	-9
Estimated Fair Value	3,600	14,819
Other Bonds	'	'
Schedule of Available-for-sale Securities [Line Items]	'	'
Amortized Cost	310	821
Gross Unrealized Gains	4	'
Gross Unrealized Losses	'	'
Estimated Fair Value	$314	$821

Scheduled_Maturities_of_Securi

Scheduled Maturities of Securities by Contractual Maturity (Detail) (USD $)	Dec. 31, 2012	Dec. 31, 2011
In Thousands, unless otherwise specified
Available for Sale - Amortized Cost	'	'
Due in one year or less	$6,172	$25,904
Due after one year but less than five years	2,413	20,243
Due after five years but less than ten years	3,524	11,160
Total available for sale securities	12,109	57,307
Due in one year or less	6,172	25,904
Available for Sale - Fair Value	'	'
Due in one year or less	6,197	25,892
Due after one year but less than five years	2,350	20,160
Due after five years but less than ten years	3,600	11,190
Total available for sale securities	12,147	57,242
Due after one year but less than five years	2,413	20,243
Due after five years but less than ten years	3,524	11,160
Total available for sale securities	12,109	57,307
Due in one year or less	6,197	25,892
Due after one year but less than five years	2,350	20,160
Due after five years but less than ten years	3,600	11,190
Total available for sale securities	$12,147	$57,242

Securities_in_Continuous_Unrea

Securities in Continuous Unrealized Loss Position (Detail) (USD $)	Dec. 31, 2012	Dec. 31, 2011
In Thousands, unless otherwise specified
Schedule of Available-for-sale Securities [Line Items]	'	'
Less than 12 Months Estimated Fair Value	$1,932	$31,978
Less than 12 Months Unrealized Loss	-67	-136
12 Months or More Estimated Fair Value	'	'
12 Months or More Unrealized Loss	'	'
Total Estimated Fair Value	1,932	31,978
Total Unrealized Loss	-67	-136
Corporate Bonds	'	'
Schedule of Available-for-sale Securities [Line Items]	'	'
Less than 12 Months Estimated Fair Value	1,932	26,051
Less than 12 Months Unrealized Loss	-67	-127
12 Months or More Estimated Fair Value	'	'
12 Months or More Unrealized Loss	'	'
Total Estimated Fair Value	1,932	26,051
Total Unrealized Loss	-67	-127
Government Bonds	'	'
Schedule of Available-for-sale Securities [Line Items]	'	'
Less than 12 Months Estimated Fair Value	'	5,927
Less than 12 Months Unrealized Loss	'	-9
12 Months or More Estimated Fair Value	'	'
12 Months or More Unrealized Loss	'	'
Total Estimated Fair Value	'	5,927
Total Unrealized Loss	'	-9
Other Bonds	'	'
Schedule of Available-for-sale Securities [Line Items]	'	'
12 Months or More Estimated Fair Value	'	'
12 Months or More Unrealized Loss	'	'

Investment_Securities_Availabl2

Investment Securities Available for Sale - Additional Information (Detail) (USD $)	12 Months Ended
	Dec. 31, 2012	Dec. 31, 2011
	Securities	Securities
Schedule of Investments [Line Items]	'	'
Proceeds from sale and prepayments of investment securities available for sale	$79,781,000	$69,490,000
Gross realized gains on investment securities available for sale	53,000	'
Number of securities in unrealized loss positions	2	31
Unrealized loss	$67,000	$136,000

Summary_of_Loans_Receivable_De

Summary of Loans Receivable (Detail) (USD $)	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010	Dec. 31, 2009
In Thousands, unless otherwise specified
Accounts, Notes, Loans and Financing Receivable [Line Items]	'	'	'	'
Loan principal balance	$5,255	$31,264	$76,939	'
Loan origination fees, net	1,157	8,307	'	'
Loan impairment valuation	-3,368	-10,195	-7,176	-11,599
Loans receivable, net	$3,044	$29,376	'	'

Loans_Receivable_Additional_In

Loans Receivable - Additional Information (Detail) (USD $)	12 Months Ended
	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010	Dec. 31, 2009
	Loan	Loan
	Contract	Contract
Accounts, Notes, Loans and Financing Receivable [Line Items]	'	'	'	'
Interest receivable	$822,000	$5,758,000	'	'
Loan impairment valuation	3,368,000	10,195,000	7,176,000	11,599,000
Investment in impaired loans with an allowance recorded investment	3,735,000	24,223,000	'	'
Related Allowance	0	0	'	'
With an allowance recorded, average recorded investment	13,978,000	31,611,000	'	'
Interest on impaired loans	1,700,000	4,900,000	'	'
Number of loans receivable originated	0	58	'	'
Loans principal balance	5,255,000	31,264,000	76,939,000	'
Loan impairment charges	947,000	1,900,000	'	'
Number of loans	22	'	'	'
Average loan daily balance	181,000	'	'	'
Proceeds from loans principal balance	-17,116,000	-55,277,000	'	'
Proceeds from loan origination fees	'	18,385,000	'	'
Number of policies owned fair value of investments	214	190	'	'
Retail non-seminar business	'	'	'	'
Accounts, Notes, Loans and Financing Receivable [Line Items]	'	'	'	'
Number of Premium Finance Loans	114	'	'	'
Number of policies owned fair value of investments	12	'	'	'
Trusts	'	'	'	'
Accounts, Notes, Loans and Financing Receivable [Line Items]	'	'	'	'
Loan impairment charges	101,000	'	'	'
Number of loans paid off	2	'	'	'
Proceeds from loans payoff	1,000,000	'	'	'
Proceeds from loans principal balance	686,000	'	'	'
Proceeds from loans interest accrued	280,000	'	'	'
Proceeds from loan origination fees	262,000	'	'	'
Gain on loans transactions	96,000	'	'	'
Accrued and Unpaid Interest	'	'	'	'
Accounts, Notes, Loans and Financing Receivable [Line Items]	'	'	'	'
Interest receivable	727,000	5,300,000	'	'
Loan impairment valuation	947,000	1,900,000	'	'
Loan Origination	'	'	'	'
Accounts, Notes, Loans and Financing Receivable [Line Items]	'	'	'	'
Loans principal balance	0	18,300,000	'	'
Loan Portfolio	'	'	'	'
Accounts, Notes, Loans and Financing Receivable [Line Items]	'	'	'	'
Loan impairment charges	4,900,000	4,600,000	'	'
Average interest rate	12.98%	'	'	'
Number of loans paid off	85	79	'	'
Proceeds from loans payoff	25,600,000	24,000,000	'	'
Proceeds from loans principal balance	16,700,000	15,600,000	'	'
Proceeds from loans interest accrued	6,500,000	6,000,000	'	'
Proceeds from loan origination fees	7,100,000	6,600,000	'	'
Gain on loans transactions	$29,000	$14,000	'	'
Loan Portfolio | Minimum	'	'	'	'
Accounts, Notes, Loans and Financing Receivable [Line Items]	'	'	'	'
Loan maturity period	'2 years	'	'	'
Loan Portfolio | Maximum	'	'	'	'
Accounts, Notes, Loans and Financing Receivable [Line Items]	'	'	'	'
Loan maturity period	'4 years	'	'	'

Analysis_of_Changes_in_Loans_R

Analysis of Changes in Loans Receivable Principal Balance (Detail) (USD $)	12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2012	Dec. 31, 2011
Accounts, Notes, Loans and Financing Receivable [Line Items]	'	'
Loan principal balance, beginning	$31,264	$76,939
Loan originations	'	18,385
Subsequent year premiums paid, net of reimbursement	'	339
Loan write-offs	'	-3,058
Loan payoffs	-17,116	-55,277
Loans transferred to investments in life settlements	-8,893	-6,064
Loan principal balance, ending	$5,255	$31,264

Loan_Impairment_Valuation_Deta

Loan Impairment Valuation (Detail) (USD $)	12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010
Financing Receivable, Impaired [Line Items]	'	'	'
Balance at beginning of period	$10,195	$7,176	$11,599
Provision for loan losses	515	7,589	4,476
Charge-offs	-7,264	-3,774	-8,205
Recoveries	'	'	1,506
Balance at end of period	3,368	10,195	7,176
Loan Impairment Valuation	'	'	'
Financing Receivable, Impaired [Line Items]	'	'	'
Balance at beginning of period	12,115	8,517	13,387
Provision for loan losses	515	7,589	4,476
Charge-offs	-8,315	-3,990	-10,852
Recoveries	'	'	1,506
Balance at end of period	4,315	12,115	8,517
Beginning of Period | Loan Impairment Valuation	'	'	'
Financing Receivable, Impaired [Line Items]	'	'	'
Balance at end of period	'	'	8,516
Loans Receivable | Loan Impairment Valuation	'	'	'
Financing Receivable, Impaired [Line Items]	'	'	'
Balance at beginning of period	10,195	7,176	11,599
Provision for loan losses	437	6,793	2,276
Charge-offs	-7,264	-3,774	-8,205
Recoveries	'	'	1,506
Balance at end of period	3,368	10,195	7,176
Loans Receivable | Beginning of Period | Loan Impairment Valuation	'	'	'
Financing Receivable, Impaired [Line Items]	'	'	'
Balance at end of period	'	'	7,176
Interest Receivable | Loan Impairment Valuation	'	'	'
Financing Receivable, Impaired [Line Items]	'	'	'
Balance at beginning of period	1,920	1,341	1,788
Provision for loan losses	78	796	2,200
Charge-offs	-1,051	-216	-2,647
Balance at end of period	947	1,920	1,341
Interest Receivable | Beginning of Period | Loan Impairment Valuation	'	'	'
Financing Receivable, Impaired [Line Items]	'	'	'
Balance at end of period	'	'	$1,340

Allowance_for_Loan_Losses_and_

Allowance for Loan Losses and Recorded Investment in Loans by Loan Type (Detail) (USD $)	12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010
Financing Receivable, Allowance for Credit Losses [Line Items]	'	'	'
Balance at beginning of period	$10,195	$7,176	$11,599
Provision for loan losses	437	6,793	2,276
Charge-offs	-7,264	-3,774	-8,205
Recoveries	'	'	1,506
Balance at end of period	3,368	10,195	7,176
Ending balance: individually evaluated for impairment	3,368	10,195	7,176
Uninsured Loans	'	'	'
Financing Receivable, Allowance for Credit Losses [Line Items]	'	'	'
Balance at beginning of period	6,914	888	1,983
Provision for loan losses	'	6,774	'
Charge-offs	-4,222	-748	-2,601
Recoveries	'	'	1,506
Balance at end of period	2,692	6,914	888
Ending balance: individually evaluated for impairment	2,692	6,914	888
Insured Loans	'	'	'
Financing Receivable, Allowance for Credit Losses [Line Items]	'	'	'
Balance at beginning of period	3,281	6,288	9,616
Provision for loan losses	437	19	2,276
Charge-offs	-3,042	-3,026	-5,604
Balance at end of period	676	3,281	6,288
Ending balance: individually evaluated for impairment	$676	$3,281	$6,288

Analysis_of_Credit_Ratings_Det

Analysis of Credit Ratings (Detail) (USD $)	Dec. 31, 2012		Dec. 31, 2011
In Thousands, unless otherwise specified
Uninsured Loans	'		'
Financing Receivable, Recorded Investment [Line Items]	'		'
Unpaid Principal Balance	$4,754		$13,648
Percent	100.00%		100.00%
Insured Loans	'		'
Financing Receivable, Recorded Investment [Line Items]	'		'
Unpaid Principal Balance	501	[1]	17,616	[1]
Percent	100.00%	[1]	100.00%	[1]
AAA | Uninsured Loans	'		'
Financing Receivable, Recorded Investment [Line Items]	'		'
Percent	0.00%		0.00%
AAA | Insured Loans	'		'
Financing Receivable, Recorded Investment [Line Items]	'		'
Percent	0.00%	[1]	0.00%	[1]
AA+ | Uninsured Loans	'		'
Financing Receivable, Recorded Investment [Line Items]	'		'
Unpaid Principal Balance	'		694
Percent	0.00%		5.09%
AA+ | Insured Loans	'		'
Financing Receivable, Recorded Investment [Line Items]	'		'
Unpaid Principal Balance	'		222	[1]
Percent	0.00%	[1]	1.26%	[1]
AA | Uninsured Loans	'		'
Financing Receivable, Recorded Investment [Line Items]	'		'
Percent	0.00%		0.00%
AA | Insured Loans	'		'
Financing Receivable, Recorded Investment [Line Items]	'		'
Percent	0.00%	[1]	0.00%	[1]
AA- | Uninsured Loans	'		'
Financing Receivable, Recorded Investment [Line Items]	'		'
Unpaid Principal Balance	2,072		6,558
Percent	43.58%		48.05%
AA- | Insured Loans	'		'
Financing Receivable, Recorded Investment [Line Items]	'		'
Unpaid Principal Balance	408	[1]	9,085	[1]
Percent	81.44%	[1]	51.57%	[1]
A+ | Uninsured Loans	'		'
Financing Receivable, Recorded Investment [Line Items]	'		'
Unpaid Principal Balance	2,548		3,060
Percent	53.97%		22.42%
A+ | Insured Loans	'		'
Financing Receivable, Recorded Investment [Line Items]	'		'
Unpaid Principal Balance	93	[1]	1,287	[1]
Percent	18.56%	[1]	7.31%	[1]
A1 | Uninsured Loans	'		'
Financing Receivable, Recorded Investment [Line Items]	'		'
Percent	0.00%		0.00%
A1 | Insured Loans	'		'
Financing Receivable, Recorded Investment [Line Items]	'		'
Percent	0.00%	[1]	0.00%	[1]
A | Uninsured Loans	'		'
Financing Receivable, Recorded Investment [Line Items]	'		'
Unpaid Principal Balance	'		3,336
Percent	0.00%		24.44%
A | Insured Loans	'		'
Financing Receivable, Recorded Investment [Line Items]	'		'
Unpaid Principal Balance	'		7,022	[1]
Percent	0.00%	[1]	39.86%	[1]
BB- | Uninsured Loans	'		'
Financing Receivable, Recorded Investment [Line Items]	'		'
Unpaid Principal Balance	$134		'
Percent	2.45%		0.00%
BB- | Insured Loans	'		'
Financing Receivable, Recorded Investment [Line Items]	'		'
Percent	0.00%	[1]	0.00%	[1]
[1]	All of the Company's insured loans have lender protection coverage with Lexington Insurance Company. As of December 31, 2012, Lexington had a financial strength rating of "A" with a stable outlook by Standard & Poors (S&P).

Summary_of_Investment_in_Impai

Summary of Investment in Impaired Loans (Detail) (USD $)	Dec. 31, 2012	Dec. 31, 2011
In Thousands, unless otherwise specified
Financing Receivable, Impaired [Line Items]	'	'
Loan receivable, net	$3,044	$29,376
Interest receivable, net	822	5,758
Impaired Loans	'	'
Financing Receivable, Impaired [Line Items]	'	'
Loan receivable, net	3,011	17,424
Interest receivable, net	724	6,799
Investment in impaired loans	$3,735	$24,223

Impaired_Loans_With_and_Withou

Impaired Loans With and Without Related Allowance (Detail) (USD $)	12 Months Ended
	Dec. 31, 2012	Dec. 31, 2011
Financing Receivable, Impaired [Line Items]	'	'
With no Related Allowance	$0	$0
With no related allowance recorded, recorded investment	3,735,000	24,223,000
With no related allowance recorded, unpaid principal balance	5,236,000	24,019,000
With no Related Allowance	4,315,000	10,195,000
With no related allowance recorded, recorded investment	13,978,000	31,611,000
With no related allowance recorded, interest income recognized	1,671,000	4,879,000
Uninsured Loans	'	'
Financing Receivable, Impaired [Line Items]	'	'
With no related allowance recorded, recorded investment	'	'
With no related allowance recorded, unpaid principal balance	'	'
With no Related Allowance	'	'
With no related allowance recorded, recorded investment	'	'
With no related allowance recorded, interest income recognized	'	'
With no related allowance recorded, recorded investment	3,623,000	10,153,000
With no related allowance recorded, unpaid principal balance	4,735,000	13,628,000
With no Related Allowance	3,413,000	6,894,000
With no related allowance recorded, recorded investment	6,887,000	6,764,000
With no related allowance recorded, interest income recognized	1,444,000	1,684,000
Insured Loans	'	'
Financing Receivable, Impaired [Line Items]	'	'
With no related allowance recorded, recorded investment	'	'
With no related allowance recorded, unpaid principal balance	'	'
With no Related Allowance	'	'
With no related allowance recorded, recorded investment	'	'
With no related allowance recorded, interest income recognized	'	'
With no related allowance recorded, recorded investment	112,000	14,070,000
With no related allowance recorded, unpaid principal balance	501,000	10,391,000
With no Related Allowance	902,000	3,301,000
With no related allowance recorded, recorded investment	7,091,000	24,847,000
With no related allowance recorded, interest income recognized	$227,000	$3,195,000

Analysis_of_Past_Due_Loans_Det

Analysis of Past Due Loans (Detail) (USD $)	Dec. 31, 2012	Dec. 31, 2011
In Thousands, unless otherwise specified
Financing Receivable, Recorded Investment, Past Due [Line Items]	'	'
30-59 Days Past Due	'	$1,570
60-89 Days Past Due	'	'
Greater Than 90 Days Past Due	914	599
Total Past Due	914	2,169
Uninsured Loans	'	'
Financing Receivable, Recorded Investment, Past Due [Line Items]	'	'
60-89 Days Past Due	'	'
Greater Than 90 Days Past Due	599	599
Total Past Due	599	599
Insured Loans	'	'
Financing Receivable, Recorded Investment, Past Due [Line Items]	'	'
30-59 Days Past Due	'	1,570
60-89 Days Past Due	'	'
Greater Than 90 Days Past Due	315	'
Total Past Due	$315	$1,570

Summary_of_Origination_Fees_in

Summary of Origination Fees in Loan Receivable (Detail) (USD $)	Dec. 31, 2012	Dec. 31, 2011
In Thousands, unless otherwise specified
Accounts, Notes, Loans and Financing Receivable [Line Items]	'	'
Loan origination fees gross	$1,334	$10,844
Un-accreted origination fees	-190	-2,666
Amortized loan originations costs	13	129
Loan origination fees, net	$1,157	$8,307

StockBased_Compensation_Additi

Stock-Based Compensation - Additional Information (Detail) (USD $)

12 Months Ended

12 Months Ended

1 Months Ended

3 Months Ended

12 Months Ended

Dec. 31, 2012

Dec. 31, 2011

Dec. 31, 2012

Dec. 31, 2012

Dec. 31, 2012

Dec. 31, 2012

Dec. 31, 2011

Dec. 31, 2012

Dec. 31, 2011

Feb. 11, 2011

Mar. 31, 2011

Dec. 31, 2012

2013

2014

Omnibus Plan

Restricted Stock

Restricted Stock

Stock Option

Stock Option

Phantom Stock Agreement

Phantom Stock Agreement

Restricted Stock Awards

Omnibus Plan

Omnibus Plan

Omnibus Plan

Omnibus Plan

Omnibus Plan

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

'

'

'

'

'

'

'

'

'

'

'

'

Shares of common stock reserved for future grant

'

'

'

'

1,200,000

'

'

'

'

'

'

'

Stock-based compensation expense

$309,000

$1,873,000

'

'

'

$4,000

$34,000

$305,000

$1,500,000

$290,000

$290,000

'

Stock issued under phantom stock agreements

'

290,000

'

'

'

'

'

'

'

27,000

27,000

'

Options outstanding and unexercised

487,314

627,419

'

'

487,414

'

'

'

'

'

'

'

Options outstanding and unexercised, weighted average price

$10.75

'

'

'

$10.75

'

'

'

'

'

'

'

Options outstanding and unexercised, expiry period

'

'

'

'

'7 years

'

'

'

'

'

'

'

Options outstanding and unexercised, vesting period

'

'

'

'

'3 years

'1 year

'

'

'

'

'

'

Remaining unamortized amounts

'

'

336,000

21,000

'

'

'

'

'

'

'

'

Restricted stock awards granted

'

'

'

'

3,507

3,507

'

'

'

'

'

0

Fair value of stock granted

'

'

'

'

'

$38,000

'

'

'

'

'

'

Assumptions_Used_at_the_Date_o

Assumptions Used at the Date of Grant for Stock Based Compensation (Detail)	12 Months Ended
	Dec. 31, 2011
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]	'
Expected Volatility, minimum	54.18%
Expected Volatility, maximum	54.23%
Expected Dividend	0.00%
Expected Term in Years	'4 years 6 months
Risk Free Rate, minimum	2.16%
Risk Free Rate, maximum	2.29%

Common_Stock_Options_Activity_

Common Stock Options Activity (Detail) (USD $)	12 Months Ended
	Dec. 31, 2012
Number of Shares	'
Options outstanding, Beginning Balance	627,419
Options granted	'
Options exercised	'
Options forfeited	-140,105
Options expired	'
Options outstanding, Ending Balance	487,314
Exercisable at end of period	287,988
Unvested at end of period	199,326
Weighted Average Price Per Share	'
Options outstanding, Beginning Balance	'
Options granted	$10.75
Options exercised	'
Options forfeited	$10.75
Options expired	'
Options outstanding, Ending Balance	$10.75
Exercisable at end of period	$10.74
Unvested at end of period	$10.75
Weighted Average Remaining Contractual Term	'
Options granted	'6 years 1 month 10 days
Options outstanding, end of period	'5 years 1 month 10 days
Exercisable at end of period	'5 years 1 month 10 days
Unvested at end of period	'5 years 1 month 10 days
Aggregate Intrinsic Value	'
Options outstanding,Beginning Balance	'
Options granted	'
Options exercised	'
Options forfeited	'
Options expired	'
Options outstanding, Ending Balance	'
Exercisable at end of period	'
Unvested at end of period	'

Activity_of_Unvested_Restricte

Activity of Unvested Restricted Common Shares (Detail)	12 Months Ended
	Dec. 31, 2012
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]	'
Common Unvested Shares outstanding, Beginning Balance	3,507
Granted	'
Vested	-3,507
Forfeited	'
Common Unvested Shares outstanding, Ending Balance	'

Structural_Settlements_Detail

Structural Settlements (Detail) (USD $)	Dec. 31, 2012	Dec. 31, 2011
In Thousands, unless otherwise specified
Long-Duration Contracts, Assumptions by Product and Guarantee [Line Items]	'	'
Structured settlements-at cost	$1,574	$1,553
Structured settlements-at fair value	1,680	12,376
Structured settlements receivable, net	$3,254	$13,929

Structured_Settlements_Additio

Structured Settlements - Additional Information (Detail) (USD $)

12 Months Ended

12 Months Ended

12 Months Ended

9 Months Ended

12 Months Ended

12 Months Ended

Dec. 31, 2012

Dec. 31, 2011

Dec. 31, 2010

Dec. 31, 2012

Dec. 31, 2011

Dec. 31, 2012

Dec. 31, 2011

Dec. 31, 2011

Dec. 31, 2012

Dec. 31, 2011

Dec. 31, 2010

Dec. 31, 2012

Dec. 31, 2011

Dec. 31, 2012

Dec. 31, 2012

Dec. 31, 2011

Dec. 31, 2012

Dec. 31, 2012

Dec. 31, 2012

Dec. 31, 2011

Sep. 24, 2010

Dec. 31, 2012

Dec. 31, 2012

Sep. 30, 2012

Dec. 31, 2011

Dec. 31, 2012

Dec. 31, 2011

Dec. 31, 2012

Dec. 31, 2011

Dec. 31, 2011

Unrelated Parties

Unrelated Parties

Structured Settlements Intended for Sale to ISF

Structured Settlements Intended for Sale to ISF

SPV

8.39% Fixed Rate Asset Backed Variable Funding Notes

8.39% Fixed Rate Asset Backed Variable Funding Notes

8.39% Fixed Rate Asset Backed Variable Funding Notes

8.39% Fixed Rate Asset Backed Variable Funding Notes

8.39% Fixed Rate Asset Backed Variable Funding Notes

Maximum

Structured settlements

Structured settlements

Scenario, Previously Reported

ISF 2010

ISF 2010

ISF 2010

ISF 2010

ISF 2010

Life Contingent Structured Settlement Facility

Life Contingent Structured Settlement Facility

Life Contingent Structured Settlement Facility

Life Contingent Structured Settlement Facility

Life Contingent Structured Settlement Facility

Life Contingent Structured Settlement Facility

Life Contingent Structured Settlement Facility

Life Contingent Structured Settlement Facility

Contract

Guaranteed Insurance Contracts

Guaranteed Insurance Contracts

Unrelated Parties

Contract

8.39% Fixed Rate Asset Backed Variable Funding Notes

8.39% Fixed Rate Asset Backed Variable Funding Notes

8.39% Fixed Rate Asset Backed Variable Funding Notes

Maximum

Contract

Scenario, Previously Reported

Scenario, Previously Reported

Scenario, Previously Reported

WSF

Compass

Compass

Compass

Contract

Contract

8.39% Fixed Rate Asset Backed Variable Funding Notes

Contract

Contract

Maximum

Maximum

Securities Financing Transaction [Line Items]

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Proceeds from sale of investments in life settlements

'

'

$2,070,000

$6,700,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

$40,000,000

'

'

'

Purchases of investments in life settlements

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

5,000,000

40,000,000

Number of structured settlement contracts

'

'

'

'

'

'

'

38

'

'

'

384

307

'

'

'

'

131

'

'

'

'

380

'

73

107

'

'

'

'

Realized gain on sale of structured settlements

'

'

'

4,000,000

'

'

'

'

4,900,000

3,800,000

'

'

'

'

'

'

'

64,000

'

'

'

'

2,600,000

'

'

'

'

'

'

'

Unrealized change in fair value of life settlements

-5,660,000

570,000

10,156,000

'

'

559,000

3,400,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

712,000

1,100,000

'

'

72,000

'

'

Credit facility, maximum borrowing

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

50,000,000

'

'

'

'

'

'

'

'

'

Debt instrument maturity date

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

1-Jan-57

'

'

'

'

'

'

'

'

'

'

'

Percent of credit facility limit

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

15.00%

'

'

5.00%

'

'

'

'

'

'

'

'

Credit facility outstanding

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

43,200,000

20,600,000

'

'

'

'

'

'

'

'

'

'

Total funds held amount

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

2,200,000

1,000,000

'

'

'

'

'

'

'

'

'

'

Number of policies sold

'

'

'

'

'

'

'

'

565

485

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Number of policies originated

'

'

'

'

'

'

'

'

'

181

12

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Unrealized change in fair value of structured settlements

1,823,000

5,302,000

2,477,000

158,000

135,000

'

'

32,000

'

3,200,000

129,000

'

'

'

'

'

322,000

'

'

'

'

'

'

'

'

'

'

'

'

'

Acquisition purchase price percentage

95.00%

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Ownership Interest

'

'

'

'

'

'

'

'

'

'

'

'

'

50.00%

'

'

'

5.00%

'

'

'

'

'

'

'

'

'

'

'

'

Percentage contributed to cash reserve held by Wilmington Trust

1.00%

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Number of deals sold

'

'

'

282

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Interest income

2,014,000

8,303,000

18,660,000

'

'

'

'

'

'

'

'

'

'

'

329,000

552,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Other receivable

'

'

'

'

'

'

'

'

'

'

'

'

'

'

3,300,000

13,900,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Discount on receivables

'

'

'

'

'

'

'

'

'

'

'

'

'

'

4,600,000

27,800,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Gain on sale of holdback funds

'

$215,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Payments due by holder period

'

'90 days

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Investment_in_Life_Settlements2

Investment in Life Settlements (Life Insurance Policies) - Additional Information (Detail) (USD $)	12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2012	Dec. 31, 2011
	Contract	Contract
Life Insurance Premiums and Related Investment Income [Line Items]	'	'
Number of policies owned fair value of investments	214	190
Fair value of life insurance policies held	$113,441	$90,917
Average life expectancy of insured	'10 years 7 months 6 days	'10 years 7 months 6 days
Estimated future premium payments	$460,381	'

Investment_in_Life_Settlements3

Investment in Life Settlements (Detail) (USD $)	Dec. 31, 2012	Dec. 31, 2011
In Thousands, unless otherwise specified	Contract	Contract
Number of Life Settlement Contracts	'	'
0 - 1	'	'
2-Jan	'	1
3-Feb	1	2
4-Mar	4	4
5-Apr	7	3
Thereafter	202	180
Total	214	190
Fair Value	'	'
0 - 1	'	'
2-Jan	'	3,033
3-Feb	1,222	2,484
4-Mar	3,319	7,084
5-Apr	11,375	2,357
Thereafter	97,525	75,959
Total	113,441	90,917
Face Value	'	'
0 - 1	'	'
2-Jan	'	5,000
3-Feb	2,500	4,500
4-Mar	11,450	20,200
5-Apr	30,950	7,950
Thereafter	1,028,256	897,816
Total	$1,073,156	$935,466

Estimated_Premiums_to_be_Paid_

Estimated Premiums to be Paid (Detail) (USD $)	Dec. 31, 2012
In Thousands, unless otherwise specified
Life Insurance Premiums and Related Investment Income [Line Items]	'
2013	$27,703
2014	26,281
2015	26,533
2016	26,978
2017	28,002
Thereafter	324,884
Estimated future premium payments	$460,381

Assets_Measured_at_Fair_Value_

Assets Measured at Fair Value on Recurring Basis (Detail) (USD $)	Dec. 31, 2012	Dec. 31, 2011
In Thousands, unless otherwise specified
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Investment in life settlements	$113,441	$90,917
Structured settlement receivables	1,680	12,376
Investment securities available for sale	12,147	57,242
Assets, Fair Value Disclosure, Total	127,268	160,535
Fair Value, Inputs, Level 2	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Investment securities available for sale	12,147	57,242
Assets, Fair Value Disclosure, Total	12,147	57,242
Fair Value, Inputs, Level 3	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Investment in life settlements	113,441	90,917
Structured settlement receivables	1,680	12,376
Assets, Fair Value Disclosure, Total	$115,121	$103,293

Quantitative_Information_about

Quantitative Information about Level 3 Fair Value Measurements (Detail) (USD $)	12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2012	Dec. 31, 2011
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]	'	'
Investment in life settlements	$113,441	$90,917
Structured settlements receivables	1,680	12,376
Investment in life settlements	1,073,156	935,466
Weighted average discount rate	24.01%	'
Fair Value, Inputs, Level 3	'	'
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]	'	'
Investment in life settlements	113,441	90,917
Structured settlements receivables	1,680	12,376
Investment in life settlements	1,073,156	'
Fair Value, Inputs, Level 3 | Non Premium Financed	'	'
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]	'	'
Investment in life settlements	36,039	'
Investment in life settlements	206,450	'
Fair Value, Inputs, Level 3 | Premium Financed	'	'
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]	'	'
Investment in life settlements	77,402	'
Investment in life settlements	$866,706	'
Fair Value, Inputs, Level 3 | Life Finance	'	'
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]	'	'
Valuation Technique (s)	'Discounted cash flow	'
Weighted average life expectancy valuation period	'10 years 7 months 6 days	'
Weighted average discount rate	-24.01%	'
Fair Value, Inputs, Level 3 | Life Finance | Non Premium Financed	'	'
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]	'	'
Valuation Technique (s)	'Discounted cash flow	'
Weighted average life expectancy valuation period	'9 years 1 month 6 days	'
Fair Value, Inputs, Level 3 | Life Finance | Premium Financed	'	'
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]	'	'
Valuation Technique (s)	'Discounted cash flow	'
Weighted average life expectancy valuation period	'10 years 10 months 24 days	'
Fair Value, Inputs, Level 3 | Structured settlements	'	'
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]	'	'
Valuation Technique (s)	'Discounted cash flow	'
Minimum | Fair Value, Inputs, Level 3 | Life Finance | Non Premium Financed	'	'
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]	'	'
Discount rate	14.80%	'
Minimum | Fair Value, Inputs, Level 3 | Life Finance | Premium Financed	'	'
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]	'	'
Discount rate	16.80%	'
Minimum | Fair Value, Inputs, Level 3 | Structured settlements	'	'
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]	'	'
Discount rate	6.25%	'
Maximum | Fair Value, Inputs, Level 3 | Life Finance | Non Premium Financed	'	'
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]	'	'
Discount rate	21.30%	'
Maximum | Fair Value, Inputs, Level 3 | Life Finance | Premium Financed	'	'
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]	'	'
Discount rate	33.80%	'
Maximum | Fair Value, Inputs, Level 3 | Structured settlements	'	'
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]	'	'
Discount rate	15.35%	'

Fair_Value_Measurements_Additi

Fair Value Measurements - Additional Information (Detail) (USD $)	9 Months Ended	12 Months Ended
	Sep. 30, 2012	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010
		Contract	Contract
Fair Value, Instruments Classified in Shareholders' Equity Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]	'	'	'	'
Mortality Rate Assumption	'The resulting mortality factor represents an indication as to the degree to which the given life can be considered more or less impaired than a standard life having similar characteristics (e.g. gender, age, smoking, etc.). For example, a standard insured (the average life for the given mortality table) would carry a mortality rating of 100%. A similar but impaired life bearing a mortality rating of 200% would be considered to have twice the chance of dying earlier than the standard life. Historically, the Company has procured the majority of its life expectancy reports from two life expectancy report providers and only used AVS life expectancy reports for valuation purposes. Beginning in the quarter ended September 30, 2012, the Company began utilizing life expectancy reports from 21st Services for valuation purposes and began averaging or bblending,b the results of the two life expectancy reports to establish a composite mortality factor. However, when bblendingb the AVS and 21st Services life expectancy reports, if the difference in the probability of mortality between the reports is greater than 150%, the Company will reduce the higher mortality factor until the difference is 150%.	'As noted above, the Company takes an average, or blend, of the two life expectancy reports to derive a composite mortality factor, unless the probability of mortality between the reports is greater than 150%. In such instances and as reflected in the fair market value at December 31, 2012, the Company will cap the higher mortality factor at amount that is 150% above the lower mortality factor, which ultimately reduces the mortality factor inputted into the Company's fair value model.	'	'
Mortality rate	100.00%	100.00%	'	'
Maximum mortality rate	150.00%	150.00%	'	'
Change in fair value of portfolios	'	$9,500,000	'	'
Number of life insurance policies	'	214	190	'
Aggregate investment in life settlements	'	113,441,000	90,917,000	'
Settlements with estimated fair value	'	1,680,000	12,376,000	'
Weighted average discount rate	'	24.01%	'	'
Unrealized change in fair value of life settlements	'	-5,660,000	570,000	10,156,000
Principal, accrued interest, and accreted origination fees, net of impairment, fair value	'	112,000	14,100,000	'
Principal, accrued interest, and accreted origination fees, net of impairment, carrying value	'	3,600,000	10,200,000	'
Provision for losses on loans receivable related to impaired loans	'	515,000	7,589,000	4,476,000
Impaired Loans	'	'	'	'
Fair Value, Instruments Classified in Shareholders' Equity Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]	'	'	'	'
Provision for losses on loans receivable related to impaired loans	'	515,000	7,600,000	'
Noninvestment grade	'	'	'	'
Fair Value, Instruments Classified in Shareholders' Equity Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]	'	'	'	'
Number of life insurance policies	'	6	'	'
Additional basis point risk premium	'	300	'	'
Structured settlements	'	'	'	'
Fair Value, Instruments Classified in Shareholders' Equity Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]	'	'	'	'
Number of life insurance policies	'	36	'	'
Settlements with estimated fair value	'	1,700,000	'	'
Weighted average discount rate	'	9.25%	'	'
More than two years old at December 31,2012	'	'	'	'
Fair Value, Instruments Classified in Shareholders' Equity Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]	'	'	'	'
Number of life insurance policies	'	45	'	'
Life expectancy reports were received	'	'	'	'
Fair Value, Instruments Classified in Shareholders' Equity Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]	'	'	'	'
Number of life insurance policies	'	149	'	'
Increase Due To Adjustment	'	'	'	'
Fair Value, Instruments Classified in Shareholders' Equity Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]	'	'	'	'
Change in fair value of portfolios	'	$5,800,000	'	'
Previously Premium Financed	'	'	'	'
Fair Value, Instruments Classified in Shareholders' Equity Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]	'	'	'	'
Number of life insurance policies	'	171	'	'
Previously Premium Financed | Minimum	'	'	'	'
Fair Value, Instruments Classified in Shareholders' Equity Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]	'	'	'	'
Discount rates	'	16.80%	'	'
Previously Premium Financed | Maximum	'	'	'	'
Fair Value, Instruments Classified in Shareholders' Equity Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]	'	'	'	'
Discount rates	'	33.80%	'	'
Non-Premium not Financed	'	'	'	'
Fair Value, Instruments Classified in Shareholders' Equity Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]	'	'	'	'
Number of life insurance policies	'	43	'	'
Non-Premium not Financed | Minimum	'	'	'	'
Fair Value, Instruments Classified in Shareholders' Equity Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]	'	'	'	'
Discount rates	'	14.80%	'	'
Non-Premium not Financed | Maximum	'	'	'	'
Fair Value, Instruments Classified in Shareholders' Equity Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]	'	'	'	'
Discount rates	'	21.30%	'	'
Previously had Lender Protection Insurance	'	'	'	'
Fair Value, Instruments Classified in Shareholders' Equity Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]	'	'	'	'
Discount rates	'	24.01%	'	'
Impaired life bearing	'	'	'	'
Fair Value, Instruments Classified in Shareholders' Equity Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]	'	'	'	'
Mortality rate	200.00%	200.00%	'	'
Life Finance	'	'	'	'
Fair Value, Instruments Classified in Shareholders' Equity Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]	'	'	'	'
Investment term	'	'5 years	'	'
Life Finance | Minimum	'	'	'	'
Fair Value, Instruments Classified in Shareholders' Equity Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]	'	'	'	'
Expected yield rate	'	12.00%	'	'
Discount rates	'	15.00%	'	'
Life Finance | Maximum	'	'	'	'
Fair Value, Instruments Classified in Shareholders' Equity Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]	'	'	'	'
Expected yield rate	'	17.00%	'	'
Discount rates	'	17.00%	'	'

Changes_in_Life_Expectancy_Use1

Changes in Life Expectancy Used to Estimate Fair Value (Detail) (USD $)	12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'	'
Value	$113,441	$90,917	'
Change in Value	151	5	1,951
+6 Life Expectancy Months Adjustment	'	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'	'
Value	95,658	'	'
Change in Value	-17,783	'	'
-6 Life Expectancy Months Adjustment	'	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'	'
Value	132,540	'	'
Change in Value	$19,099	'	'

Changes_in_Weighted_Average_Di1

Changes in Weighted Average Discount Rate Used to Estimate Fair Value (Detail) (USD $)	12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'	'
Weighted Average Rate	24.01%	'	'
Value	$113,441	$90,917	'
Change in Value	151	5	1,951
.50% Decrease in Discount Rate	'	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'	'
Weighted Average Rate	23.51%	'	'
Value	116,300	'	'
Change in Value	2,859	'	'
.50% Increase in Discount Rate	'	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'	'
Weighted Average Rate	24.51%	'	'
Value	110,694	'	'
Change in Value	($2,747)	'	'

Changes_in_Fair_Value_for_All_

Changes in Fair Value for All Assets Using Material Level of Unobservable (Level 3) Inputs (Detail) (USD $)	9 Months Ended	12 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2011	Dec. 31, 2012	Dec. 31, 2011
Life Finance	'	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'	'
Beginning Balance	$17,138	$90,917	$17,138
Purchase of contracts	50,480	130	'
Acquired in foreclosure	6,409	5,724	'
Unrealized change in fair value	570	-5,660	'
Transfers into Level 3	'	'	'
Transfers out of level 3	'	'	'
Sale of contracts	'	-5,334	'
Premiums paid	16,320	27,804	'
Policies lapsed/written off	'	-140	'
Ending Balance	90,917	113,441	90,917
Changes in fair value included in earnings for the period relating to assets held at end of period	'	-5,898	570
Structured settlements	'	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'	'
Beginning Balance	1,446	12,376	1,446
Purchase of contracts	27,545	24,313	'
Unrealized change in fair value	5,302	1,823	'
Transfers into Level 3	'	'	'
Transfers out of level 3	'	'	'
Sale of contracts	-21,723	-36,615	'
Collections	-194	-217	'
Ending Balance	12,376	1,680	12,376
Changes in fair value included in earnings for the period relating to assets held at end of period	'	$255	$4,218

Summary_of_Principal_Balances_

Summary of Principal Balances of Notes Payable (Detail) (USD $)	Dec. 31, 2012	Dec. 31, 2011
In Thousands, unless otherwise specified
Debt Instrument [Line Items]	'	'
Notes payable	'	$19,277
Cedar Lane	'	'
Debt Instrument [Line Items]	'	'
Notes payable	'	19,104
White Oak, Inc.	'	'
Debt Instrument [Line Items]	'	'
Notes payable	'	$173

Notes_and_Debenture_Payable_Ad

Notes and Debenture Payable - Additional Information (Detail) (USD $)	Dec. 31, 2011	Sep. 30, 2009	Dec. 31, 2012	Dec. 31, 2011	Sep. 30, 2009	Sep. 30, 2009	Dec. 02, 2009	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2012	Dec. 31, 2011
		White Oak, Inc.	White Oak, Inc.	White Oak, Inc.	White Oak, Inc.	White Oak, Inc.	Cedar Lane	Cedar Lane	Cedar Lane	Cedar Lane	Cedar Lane
					Minimum	Maximum				Premium Financed	Premium Financed
Debt Instrument [Line Items]	'	'	'	'	'	'	'	'	'	'	'
Credit facility, minimum borrowing capacity	'	'	'	'	'	'	$5,000,000	'	'	'	'
Credit facility, maximum borrowing	'	27,000,000	'	'	'	'	250,000,000	'	'	'	'
Credit facility, borrowing period	'	'	'	'	'	'	'28 months	'	'	'	'
Credit facility, interest rate term	'	'	'	'	'	'	'Annual interest rate of 14%, 15% or 16%, depending on the class of lender and were compounded monthly.	'	'	'	'
Credit facility covenants	'	'	'	'	'	'	'The Company was subject to several restrictive covenants under the facility. The restrictive covenants included items such as restrictions on the ability to pay dividends or incur additional indebtedness by Imperial PFC Financing II, LLC. The Company believes it was in compliance at December 31, 2012.	'	'	'	'
Credit facility covenants compliance	'	'	'	'	'	'	'The Company believes it was in compliance at December 31, 2012	'	'	'	'
Credit facility outstanding	'	'	0	172,000	'	'	'	'	'	0	19,100,000
Accrued interest	5,505,000	'	0	104,000	'	'	'	0	5,400,000	'	'
Credit facility, principal percentage amount	'	'	'	'	'	'	'	2.00%	2.00%	'	'
Credit facility, increase	'	$12,000,000	'	'	'	'	'	'	'	'	'
Notes payable repayment period	'	'	'	'	'6 months	'26 months	'	'	'	'	'
Credit facility, maturity date	'	11-Mar-12	'	'	'	'	'	'	'	'	'

Commitments_and_Contingencies_1

Commitments and Contingencies - Additional Information (Detail) (USD $)	1 Months Ended			3 Months Ended	12 Months Ended
	Apr. 26, 2012	1-May-12	Feb. 24, 2012	Mar. 31, 2012	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010	Feb. 15, 2012	Feb. 11, 2011
			LegalMatter
Commitments and Contingencies [Line Items]	'	'	'	'	'	'	'	'	'
Amount of litigation fees	'	'	'	'	$23,974,000	$9,855,000	$2,006,000	'	'
Percentage of annual increase of base rent	'	5.00%	'	'	'	'	'	'	'
Lease expiration date	'	31-Oct-14	'	'	'	'	'	'	'
Rent expense under operating lease	'	'	'	'	528,000	546,000	545,000	'	'
Other liabilities	'	'	'	'	20,796,000	4,279,000	'	'	'
Separation payment	1,400,000	'	'	'	'	'	'	'	'
Entitled base salary, months	'	'	'	'	'	'	'	'24 months	'
Putative class actions	'	'	4	'	'	'	'	'	'
Reimbursement of defense costs and fees	'	'	'	800,000	'	'	'	'	'
Exercise price of warrants	'	'	'	'	'	'	'	'	14.51
Deferred Rent Liability	'	'	'	'	'	'	'	'	'
Commitments and Contingencies [Line Items]	'	'	'	'	'	'	'	'	'
Other liabilities	'	'	'	'	102,000	110,000	'	'	'
Through 2012 | Minimum	'	'	'	'	'	'	'	'	'
Commitments and Contingencies [Line Items]	'	'	'	'	'	'	'	'	'
Expected bonus payment	'	'	'	'	'	'	'	250,000	'
Through 2013 | Minimum	'	'	'	'	'	'	'	'	'
Commitments and Contingencies [Line Items]	'	'	'	'	'	'	'	'	'
Expected bonus payment	'	'	'	'	'	'	'	250,000	'
Pending Litigation	'	'	'	'	'	'	'	'	'
Commitments and Contingencies [Line Items]	'	'	'	'	'	'	'	'	'
Amount of litigation fees	'	'	'	'	14,300,000	14,000,000	'	'	'
Derivative Actions	'	'	'	'	'	'	'	'	'
Commitments and Contingencies [Line Items]	'	'	'	'	'	'	'	'	'
Amount of litigation fees	'	'	'	'	1,000,000	'	'	'	'
Insurance recoverable from the Company's D&O Carrier	'	'	'	'	1,500,000	'	'	'	'
Proposed settlement reserved amount	'	'	'	'	2,500,000	'	'	'	'
Insurance settlement receivable	'	'	'	'	1,500,000	'	'	'	'
Derivative Actions | Common Stock	'	'	'	'	'	'	'	'	'
Commitments and Contingencies [Line Items]	'	'	'	'	'	'	'	'	'
Amount of litigation fees	'	'	'	'	500,000	'	'	'	'
Derivative Actions | Directors and Officers Liability Insurance	'	'	'	'	'	'	'	'	'
Commitments and Contingencies [Line Items]	'	'	'	'	'	'	'	'	'
Amount of litigation fees	'	'	'	'	500,000	'	'	'	'
Class Action	'	'	'	'	'	'	'	'	'
Commitments and Contingencies [Line Items]	'	'	'	'	'	'	'	'	'
Amount of litigation fees	'	'	'	'	4,100,000	'	'	'	'
Payments for class action settlements	'	'	'	'	12,000,000	'	'	'	'
Insurance recoverable from the Company's D&O Carrier	'	'	'	'	11,000,000	'	'	'	'
Issuance of warrants shares	'	'	'	'	2,000,000	'	'	'	'
Issuance of warrants for common stock	'	'	'	'	3,100,000	'	'	'	'
Common stock warrants term	'	'	'	'	'5 years	'	'	'	'
Exercise price of warrants	'	'	'	'	10.75	'	'	'	'
Proposed settlement reserved amount	'	'	'	'	15,100,000	'	'	'	'
Insurance settlement receivable	'	'	'	'	$11,000,000	'	'	'	'

Future_Minimum_Payments_Under_

Future Minimum Payments Under Operating Leases (Detail) (USD $)	Dec. 31, 2012
Operating Leased Assets [Line Items]	'
2013	$547,051
2014	477,183
Operating Leases, Future Minimum Payments Due, Total	$1,024,234

Stockholders_Equity_Additional

Stockholders' Equity - Additional Information (Detail) (USD $)

1 Months Ended

12 Months Ended

1 Months Ended

12 Months Ended

3 Months Ended

1 Months Ended

1 Months Ended

Feb. 28, 2011

Feb. 15, 2011

Feb. 11, 2011

Feb. 03, 2011

Dec. 31, 2012

Dec. 31, 2011

Dec. 31, 2012

Feb. 11, 2011

Feb. 11, 2011

Dec. 31, 2012

Dec. 31, 2012

Mar. 31, 2011

Feb. 11, 2011

Feb. 11, 2011

Feb. 11, 2011

Feb. 11, 2011

Jan. 31, 2011

Jan. 31, 2011

Common Stock

Phantom Stock Agreement

Maximum

Maximum

Omnibus Plan

Omnibus Plan

Additional Warrants

One-third

One-third

One-third

Series F Preferred Stock

Series F Preferred Stock

Phantom Stock Agreement

Redeemable Preferred Stock

Redeemable Preferred Stock

Promissory Note

Stockholders Equity [Line Items]

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Stock issued upon conversion of debt to equity

'

'

'

'

'

'

1,272,727

'

'

'

'

'

'

'

'

'

110,000

'

Debt converted to shares converted amount

'

'

'

'

'

$35,158,000

$30,000,000

'

'

'

'

'

'

'

'

'

'

$11,000,000

Cumulative rate of preferred return

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

16.00%

'

Conversion of Impex debt and membership units into common shares (shares)

'

'

'

2,300,273

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Stock issued under phantom stock agreements

'

'

'

'

'

290,000

'

27,000

'

'

'

27,000

'

'

'

'

'

'

Stock-based compensation expense

'

'

'

'

309,000

1,873,000

'

290,000

'

'

'

290,000

'

'

'

'

'

'

Warrants issued

'

'

'

'

'

'

'

'

4,053,333

'

'

'

187,188

'

'

'

'

'

Warrants exercise price

'

'

14.51

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Warrant exercise price as percentage of offering price

'

'

'

'

'

'

'

'

'

'

'

'

'

120.00%

135.00%

150.00%

'

'

Warrant expiration period

'

'

'7 years

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Warrant vesting period

'

'

'4 years

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Sale of common stock in initial public offering

17,602,614

935,947

16,666,667

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Common stock price per share

$10.75

'

$10.75

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Proceeds from initial public offering

$174,200,000

'

'

'

'

$174,233,000

'

'

'

'

'

'

'

'

'

'

'

'

Common stock, shares outstanding

'

'

'

3,600,000

21,206,121

21,202,614

'

'

'

'

'

'

'

'

'

'

'

'

Common stock to be issued upon exercise of warrant

'

'

'

'

'

'

'

'

'

4,240,521

'

'

'

'

'

'

'

'

Shares of common stock reserved for future grant

'

'

'

'

'

'

'

'

'

'

1,200,000

'

'

'

'

'

'

'

Options to purchase shares of common stock granted

'

'

'

'

'

'

'

'

'

'

665,956

'

'

'

'

'

'

'

Options to purchase shares of common stock, weighted average exercise price

'

'

'

'

$10.75

'

'

'

'

'

$10.75

'

'

'

'

'

'

'

Shares of restricted stock granted

'

'

'

'

'

'

'

'

'

'

3,507

'

'

'

'

'

'

'

Shares of common stock are available for future awards

'

'

'

'

'

'

'

'

'

'

530,537

'

'

'

'

'

'

'

Employee_Benefit_Plan_Addition

Employee Benefit Plan - Additional Information (Detail) (USD $)	12 Months Ended
	Dec. 31, 2012	Dec. 31, 2011
	Y
Defined Contribution Benefit Plans [Line Items]	'	'
401(k) plan that covers employees eligible age	18	'
401(k) plan that covers employees service period for eligible	'3 months	'
Employer contributions	$0	$0

Summary_Quarterly_Financial_Da

Summary Quarterly Financial Data (Detail) (USD $)	3 Months Ended								12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2012	Sep. 30, 2012	Jun. 30, 2012	Mar. 31, 2012	Dec. 31, 2011	Sep. 30, 2011	Jun. 30, 2011	Mar. 31, 2011	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010
Quarterly Financial Data [Line Items]	'	'	'	'	'	'	'	'	'	'	'
Revenues	$3,081	($16,940)	$12,214	$6,733	($11,911)	($5,125)	$26,510	$22,807	$5,088	$32,281	$67,366
(Loss)/Income from Operations	-4,242	-30,316	-350	-7,150	-39,248	-19,116	15,358	9,232	'	'	'
Net (Loss)/Income	($4,249)	($30,311)	($350)	($7,109)	($37,896)	($11,289)	$14,175	$1,236	($44,634)	($39,198)	($15,697)

Provision_Benefit_For_Income_T

Provision (Benefit) For Income Taxes (Detail) (USD $)	12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2012	Dec. 31, 2011
Current	'	'
Federal	'	'
State	'	'
Current Income Tax Expense (Benefit), Total	'	'
Deferred	'	'
Federal	-14,377	-9,474
State	-2,391	-1,575
Provision for deferred tax liability	-16,768	-11,049
Valuation allowance increase	16,729	11,049
Benefit for income taxes	($39)	'

Difference_between_Actual_Prov

Difference between Actual Provision (Benefit) for Income Tax and Federal Expected Income Tax Provision (Detail) (USD $)	12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2012	Dec. 31, 2011
Income Tax Rate Reconciliation [Line Items]	'	'
Tax Benefit at statutory rate	($15,636)	($13,719)
Increase (decrease) in taxes resulting from:	'	'
State tax (net of federal benefit)	-1,555	-1,045
Pre-conversion loss	'	678
Pre-conversion deferred tax asset	'	223
Other	423	14
Department of Justice settlement	'	2,800
Valuation allowance increase	16,729	11,049
Benefit for income taxes	($39)	'
Tax Benefit at statutory rate	35.00%	35.00%
Increase (decrease) in taxes resulting from:	'	'
State tax (net of federal benefit)	3.48%	2.67%
Pre-conversion loss	'	-1.73%
Pre-conversion deferred tax asset	'	-0.57%
Other	-0.94%	-0.04%
Department of Justice settlement	'	-7.14%
Valuation allowance increase	-37.45%	-28.19%
Benefit for income taxes	0.09%	0.00%

Income_Taxes_Additional_Inform

Income Taxes - Additional Information (Detail) (USD $)	12 Months Ended
	Dec. 31, 2012	Dec. 31, 2011
Income Taxes [Line Items]	'	'
Provision for deferred tax liability	($16,768,000)	($11,049,000)
Net operating loss carryforward	25,454,000	13,488,000
Deferred Tax Asset	32,253,000	17,647,000
Deferred tax valuation allowance reduction	39,000	'
Decrease in effective tax rate due to recognition of unrecognized tax benefits	0.00%	'
Federal and State Income Taxes	'	'
Income Taxes [Line Items]	'	'
Provision for deferred tax liability	'	4,500,000
Prior	'	'
Income Taxes [Line Items]	'	'
Net operating loss carryforward	'	11,200,000
Deferred Tax Asset	'	4,300,000
Net operating loss expiration Year	'	'2028
Federal and State	'	'
Income Taxes [Line Items]	'	'
Net operating loss carryforward	$54,800,000	'
Net operating loss expiration Year	'2031	'

Deferred_Tax_Assets_And_Liabil

Deferred Tax Assets And Liabilities (Detail) (USD $)	Dec. 31, 2012	Dec. 31, 2011
In Thousands, unless otherwise specified
Deferred tax assets:	'	'
Federal and State net operating loss carryforward	$25,454	$13,488
Allowance for doubtful accounts	1,969	3,362
Unrealized loss on available for sale investment securities	'	25
Unrealized loss on life and structured settlements, net	1,813	'
Litigation reserves	2,324	68
Other	693	704
Total gross deferred tax assets	32,253	17,647
Less valuation allowance	-27,803	-11,074
Total deferred tax assets	4,450	6,573
Deferred tax liabilities:	'	'
Unrealized gains on life and structured settlements	'	5,075
Gain on structured settlements deferred for tax purposes	4,436	1,498
Unrealized gain on available for sale investment securities	14	'
Other	'	'
Total gross deferred tax liabilities	4,450	6,573
Total net deferred tax asset (liability)	'	'

Reconciliation_of_Total_Amount

Reconciliation of Total Amounts of Unrecognized Benefits (Detail) (USD $)	12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2012	Dec. 31, 2011
Income Tax Rate Reconciliation [Line Items]	'	'
Beginning Balance	$6,295	'
Additions based on tax positions taken in the current year	'	6,295
Reductions of tax positions for prior years	'	'
Ending Balance	$6,295	$6,295

Subsequent_Events_Additional_I

Subsequent Events - Additional Information (Detail) (USD $)	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2012	Jan. 22, 2013	Mar. 27, 2013	Mar. 27, 2013	Mar. 27, 2013
	Contract	Contract	Bridge facility	Subsequent Event	Subsequent Event	Subsequent Event	Subsequent Event
			Greenwood Asset Portfolio, LLC	21st Services	Bridge facility	Bridge facility	Bridge facility
			Contract		Greenwood Asset Portfolio, LLC	Greenwood Asset Portfolio, LLC	Greenwood Asset Portfolio, LLC
						For Nine Months	After Nine Months
Subsequent Event [Line Items]	'	'	'	'	'	'	'
Senior secured bridge notes	'	'	'	'	$45,000,000	'	'
Bridge loan, interest rate	'	'	'	'	'Interest under the Bridge Facility accrues at 12% per annum for the first nine months from the issue date, and increases by 600 basis points thereafter to 18% per annum.	'	'
Interest under the facility	'	'	'	'	'	12.00%	18.00%
Interest rate increase in basis points	'	'	'	'	'	'	6.00%
Percentage of net proceeds from credit facility that may be used for general corporate purposes	'	'	'	'	25.00%	'	'
Percentage of proceed from debt issuance	'	'	'	'	92.00%	'	'
Prepayment rate	'	'	'	'	109.00%	'	'
Asset coverage ratio	'	'	'	'	2	'	'
Bridge Facility covenant description	'	'	'	'	'The Bridge Facility requires the maintenance of a 2 times asset coverage ratio and six months of cash on hand to pay interest on the Bridge Facility and premiums on life insurance policies owned by Greenwood.	'	'
Life settlements estimated fair value	$1,073,156,000	$935,466,000	$104,600,000	'	'	'	'
Number of life settlement contracts	214	190	191	'	'	'	'
Lengthen average reported life expectancy	'	'	'	19.00%	'	'	'