GWG (GWGHQ) 10-K 13 Mar 15 2014 FY Annual report Financial data

Document_and_Entity_Informatio

Document and Entity Information (USD $)	12 Months Ended
	Dec. 31, 2014	Mar. 13, 2015
Document and Entity Information [Abstract]
Entity Registrant Name	GWG Holdings, Inc.
Entity Central Index Key	1522690
Amendment Flag	FALSE
Current Fiscal Year End Date	-19
Document Type	10-K
Document Period End Date	31-Dec-14
Document Fiscal Year Focus	2014
Document Fiscal Period Focus	FY
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Filer Category	Smaller Reporting Company
Entity Common Stock, Shares Outstanding		5,870,193
Entity Public Float	$0

Consolidated_Balance_Sheets

Consolidated Balance Sheets (USD $)	Dec. 31, 2014	Dec. 31, 2013
A S S E T S
Cash and cash equivalents	$30,662,704	$33,449,793
Restricted cash	4,296,053	5,832,970
Investment in life settlements, at fair value	282,883,010	234,672,794
Deferred financing costs, net	1,569,400	357,901
Policy benefits receivable	1,750,000
Other assets	1,909,362	1,067,018
TOTAL ASSETS	323,070,529	275,380,476
LIABILITIES
Revolving credit facility	72,161,048	79,000,000
Series I Secured Notes payable	27,616,578	29,275,202
L Bonds	182,782,884	131,646,062
Accounts payable	1,203,575	839,869
Interest payable	11,128,519	7,209,408
Other accrued expenses	514,435	504,083
Deferred taxes, net	5,273,555	7,675,174
TOTAL LIABILITIES	300,680,594	256,149,798
COMMITMENTS AND CONTINGENCIES (NOTES 13 AND 14)
CONVERTIBLE, REDEEMABLE PREFERRED STOCK (par value $0.001; shares authorized 40,000,000; shares outstanding 2,738,966 and 3,368,109; liquidation preference of $20,542,000 and $25,261,000 on December 31, 2014 and December 31, 2013 respectively)	20,527,866	24,722,693
STOCKHOLDERS' EQUITY (DEFICIT)
Common stock (par value $0.001: shares authorized 210,000,000; shares outstanding 5,870,193 and 4,562,000 on December 31, 2014 and 2013)	5,870	4,562
Additional paid-in capital	16,257,686	2,942,000
Accumulated deficit	-14,401,486	-8,438,577
TOTAL STOCKHOLDERS' EQUITY (DEFICIT)	22,389,936	-5,492,015
TOTAL LIABILITIES & EQUITY (DEFICIT)	$323,070,529	$275,380,476

Consolidated_Balance_Sheets_Pa

Consolidated Balance Sheets (Parenthetical) (USD $)	Dec. 31, 2014	Dec. 31, 2013
Balance Sheets [Abstract]
Convertible redeemable preferred stock, par value	$0.00	$0.00
Convertible redeemable preferred stock, shares authorized	40,000,000	40,000,000
Convertible redeemable preferred stock, shares outstanding	2,738,966	3,368,109
Convertible redeemable preferred stock, liquidation preference	$20,542,000	$25,261,000
Common stock, par value	$0.00	$0.00
Common stock, shares authorized	210,000,000	210,000,000
Common stock, shares outstanding	5,870,193	4,562,000

Consolidated_Statements_of_Ope

Consolidated Statements of Operations (USD $)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013
REVENUE
Gain on life settlements, net	$30,416,127	$29,513,642
Gain on termination of agreement with Athena Securities Ltd.		3,252,400
Interest and other income	60,448	298,732
TOTAL REVENUE	30,476,575	33,064,774
EXPENSES
Interest expense	26,716,798	20,762,644
Employee compensation and benefits	4,969,636	5,043,848
Legal and professional fees	2,339,235	1,754,209
Other expenses	4,815,434	3,525,261
TOTAL EXPENSES	38,841,103	31,085,962
(LOSS) INCOME BEFORE INCOME TAXES	-8,364,528	1,978,812
Income tax (benefit) expense	-2,401,619	2,173,767
NET LOSS	-5,962,909	-194,955
Loss attributable to preferred shareholders	-138,374	-806,624
LOSS ATTRIBUTABLE TO COMMON SHAREHOLDERS	($6,101,283)	($1,001,579)
NET LOSS PER COMMON SHARE
Basic	($1.24)	($0.21)
Diluted	($1.24)	($0.21)
WEIGHTED AVERAGE SHARES OUTSTANDING
Basic	4,909,657	4,758,699
Diluted	4,909,657	4,758,699

Consolidated_Statement_of_Stoc

Consolidated Statement of Stockholders' Equity (USD $)		Total	Preferred Stock	Common Stock	Additional Paid-in Capital	Accumulated Deficit
Balance at Dec. 31, 2012		($1,261,789)		$4,995	$6,976,838	($8,243,622)
Balance, Shares at Dec. 31, 2012				4,994,500
Net income		-194,955				-194,955
Repurchase of common stock		-3,252,400		-433	-3,251,967
Repurchase of common stock, Shares				-432,500
Issuance of stock options		23,753			23,753
Accretion of preferred stock to liquidation value		-806,624			-806,624
Balance at Dec. 31, 2013		-5,492,015		4,562	2,942,000	-8,438,577
Balance, Shares at Dec. 31, 2013				4,562,000
Net income		-5,962,909				-5,962,909
Issuance of common stock		8,643,790		800	8,642,990
Issuance of common stock, Shares				800,000
Series A Preferred Stock conversion		4,957,099		508	4,956,591
Series A Preferred Stock conversion, Shares				508,193
Reclassification of preferred stock from temporary equity to permanent equity due to initial public offering	[1]	20,326,605	20,326,605
Reclassification of preferred stock from temporary equity to permanent equity due to initial public offering, Shares	[1]		2,710,214
Issuance of preferred stock		201,261	201,261
Issuance of preferred stock, Shares			28,752
Issuance of stock options		122,412			122,412
Extension and issuance of warrants		47,120			47,120
Accretion of preferred stock to liquidation value		-453,427			-453,427
Balance at Dec. 31, 2014		$22,389,936	$20,527,866	$5,870	$16,257,686	($14,401,486)
Balance, Shares at Dec. 31, 2014			2,738,966	5,870,193
[1]	Subject to the terms of the Certificate of Designation for Series A Convertible Preferred Stock, the listing of our common stock on The Nasdaq Capital Market on September 25, 2014 resulted in the termination of a redemption right in favor of the holders of such preferred stock. Preferred stock that is not redeemable by a shareholder is treated as stockholders' equity as shown in the table above.

Consolidated_Statement_of_Cash

Consolidated Statement of Cash Flows (USD $)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013
CASH FLOWS FROM OPERATING ACTIVITIES
Net loss	($5,962,909)	($194,955)
Adjustments to reconcile net loss to net cash flows used in operating activities:
Gain on life settlements, gross	-39,928,003	-39,337,542
Amortization of deferred financing and issuance costs	3,804,795	2,470,390
Deferred income taxes	-2,401,619	2,173,767
Convertible, redeemable preferred stock issued in lieu of cash dividends	774,085	623,899
Convertible, redeemable preferred stock dividends payable	-116,207	255
Gain upon termination of agreement with Athena Securities Ltd.		-3,252,400
(Increase) decrease in operating assets:
Due from related parties	-291	8,613
Insurance benefits receivable	-1,750,000	2,850,000
Other assets	-2,347,050	-566,418
Increase in operating liabilities:
Accounts payable	363,706	369,809
Interest payable	4,638,876	3,418,432
Other accrued expenses	457,376	50,642
NET CASH FLOWS USED IN OPERATING ACTIVITIES	-42,467,241	-31,385,508
CASH FLOWS FROM INVESTING ACTIVITIES
Investment in life settlements	-12,292,401	-34,997,500
Proceeds from settlement of life settlements	4,185,813	4,563,896
NET CASH FLOWS USED IN INVESTING ACTIVITIES	-8,106,588	-30,433,604
CASH FLOWS FROM FINANCING ACTIVITIES
Net proceeds from (repayment of) revolving credit facility	-6,838,952	8,000,000
Payments for redemption of Series I Secured Notes payable	-2,268,379	-8,671,624
Proceeds from issuance of L Bonds	65,713,297	85,260,976
Payment of deferred issuance costs for L Bonds	-4,104,876	-4,320,542
Payments for redemption of L Bonds	-14,429,017	-8,143,363
Issuance of common stock	8,642,990
Proceeds from (uses of) restricted cash	1,536,916	-3,739,878
Redemption of convertible, redeemable preferred stock	-465,239	-613,708
NET CASH FLOWS PROVIDED BY FINANCING ACTIVITIES	47,786,740	67,771,861
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	-2,787,089	5,952,749
CASH AND CASH EQUIVALENTS
BEGINNING OF PERIOD	33,449,793	27,497,044
END OF PERIOD	30,662,704	33,449,793
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION
Interest and preferred dividends paid	16,931,000	13,627,000
NON-CASH INVESTING AND FINANCING ACTIVITIES
Non-cash conversion of Series I Secured Notes		912,000
Warrants issued to purchase common stock	47,000
Options issued to purchase common stock	122,000	24,000
Accrued interest payable on Series I Secured Notes added to principal	151,000	185,000
Accrued interest payable on L Bonds added to principal	452,000	141,000
Conversion of Series A Preferred Stock into common stock	4,957,000
Reclassification of Series A Preferred Stock to permanent equity due to initial public offering	20,327,000
Issuance of preferred stock in lieu of cash dividends	$774,000	$624,000

Nature_of_Business_and_Summary

Nature of Business and Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2014
Nature of Business and Summary of Significant Accounting Policies [Abstract]
Nature of business and summary of significant accounting policies	( 1 ) Nature of business and summary of significant accounting policies
	Nature of business - GWG Holdings, Inc. (GWG Holdings) and subsidiaries, located in Minneapolis, Minnesota, facilitates the purchase of life insurance policies for its own investment portfolio through its wholly owned subsidiary, GWG Life, LLC (GWG Life), and its subsidiaries, GWG Trust (Trust), GWG DLP Funding II, LLC (DLP II) and its wholly-owned subsidiary, GWG DLP Master Trust II (the Trust II). All of these entities are legally organized in Delaware. Unless the context otherwise requires or we specifically so indicate, all references in this report to "we", "us", "our", "our Company", "GWG", or the "Company" refer to these entities collectively.
	Use of estimates - The preparation of consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. The Company regularly evaluates estimates and assumptions. The Company bases its estimates and assumptions on current facts, historical experience, and various other factors that it believes to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities and the accrual of costs and expenses that are not readily apparent from other sources. The actual results experienced by the Company may differ materially and adversely from the Company’s estimates. To the extent there are material differences between the estimates and the actual results, future results of operations will be affected. The most significant estimates with regard to these consolidated financial statements relates to (1) the determination of the assumptions used in estimating the fair value of the investment in life insurance policies, and (2) the value of deferred tax assets and liabilities.
	Cash and cash equivalents - The Company considers cash in demand deposit accounts and temporary investments purchased with an original maturity of three months or less to be cash equivalents. The Company maintains its cash and cash equivalents with highly rated financial institutions. From time to time, the Company’s balances in its bank accounts exceed Federal Deposit Insurance Corporation limits. The Company periodically evaluates the risk of exceeding insured levels and may transfer funds as it deems appropriate. The Company has not experienced any losses with regards to balances in excess of insured limits or as a result of other concentrations of credit risk.
	Life settlements - ASC 325-30, Investments in Insurance Contracts, allows a reporting entity the election to account for its investments in life settlements using either the investment method or the fair value method. The election shall be made on an instrument-by-instrument basis and is irrevocable. Under the investment method, an investor shall recognize the initial investment at the purchase price plus all initial direct costs. Continuing costs (policy premiums and direct external costs, if any) to keep the policy in force shall be capitalized. Under the fair value method, an investor shall recognize the initial investment at the purchase price. In subsequent periods, the investor shall re- measure the investment at fair value in its entirety at each reporting period and shall recognize the change in fair value in current period income net of premiums paid. The Company uses the fair value method to account for all life settlements.
	The Company recognizes realized gains (revenue) from life settlement contracts upon one of the two following events:
	1) Receipt of mortality notice or verified obituary of insured; or
	2) Sale of policy and filing of change of ownership forms and receipt of payment
	The Company recognizes the difference between the face value of the insurance benefits and carrying values of the policy when an insured event has occurred and the Company determines that settlement and ultimate collection of the face value of the insurance benefits is realizable and reasonably assured. Revenue from a transaction must meet both criteria in order to be recognized. In an event of a sale of a policy the Company recognizes gain or loss as the difference between the sale price and the carrying value of the policy on the date of the receipt of payment on such sale.
	Deposits and initial direct costs advanced on unsettled policy acquisitions are recorded as other assets until policy ownership has been transferred to the Company. Such deposits and direct cost advances were $27,000 and $201,000 at December 31, 2014 and 2013, respectively.
	Deferred financing and issuance costs – Costs incurred to obtain financing under the revolving credit facility, as described in note 5, have been capitalized and are amortized using the straight-line method over the term of the revolving credit facility. Amortization of deferred financing costs was $358,000 and $455,000 for the years ended December 31, 2014 and 2013, respectively. As of December 31, 2014 those costs have been fully amortized. The Series I Secured Notes payable, as described in note 6, are reported net of issuance costs, sales commissions and other direct expenses, which are amortized using the interest method over the term of each respective borrowing. The L Bonds, as described in note 7, are reported net of issuance costs, sales commissions and other direct expenses, which are amortized using the interest method over the term of each respective borrowing. The Series A Preferred Stock, as described in note 8, is reported net of issuance costs, sales commissions, including the fair value of warrants issued, and other direct expenses, which are amortized using the interest method as interest expense over the three-year redemption period.
	Earnings (loss) per share - Basic per share earnings (loss) attributable to non-redeemable interests is calculated using the weighted-average number of shares outstanding during the period. Diluted earnings per share is calculated based on the potential dilutive impact, if any, of the Company’s convertible preferred stock, and outstanding warrants, and stock options. Due to the net loss reported for the years ended December 31, 2014 and 2013, all preferred stock, stock options and warrants are anti-dilutive.
	Subsequent events - Subsequent events are events or transactions that occur after the balance sheet date but before consolidated financial statements are issued. The Company recognizes in the consolidated financial statements the effects of all subsequent events that provide additional evidence about conditions that existed at the date of the balance sheet, including the estimates inherent in the process of preparing the consolidated financial statements. The Company’s consolidated financial statements do not recognize subsequent events that provide evidence about conditions that did not exist at the date of the balance sheet but arose after the balance sheet date and before the consolidated financial statements are available to be issued. The Company evaluates subsequent events and transactions that occur after the balance sheet date up to the date that the consolidated financial statements are filed for potential recognition or disclosure.
	Recently adopted pronouncements - Pronouncements issued by the FASB or other authoritative accounting standards groups with future effective dates are either not applicable or are not expected to be significant to the Company.

Restrictions_on_Cash

Restrictions on Cash	12 Months Ended
	Dec. 31, 2014
Restrictions on Cash [Abstract]
Restrictions on cash	( 2 ) Restrictions on cash
	The Company is required by its lenders to maintain collection and escrow accounts. These accounts are used to fund the acquisition, pay annual premiums of insurance policies, pay interest and other charges under the revolving credit facility, and collect policy benefits. DZ Bank AG, as agent for Autobahn Funding Company, LLC, the lender for the revolving credit facility as described in note 5, authorizes the disbursements from these accounts. At December 31, 2014 and December 31, 2013 there were balances of $4,296,000, and $5,833,000, respectively, maintained in these restricted cash accounts.

Investment_in_Life_Insurance_P

Investment in Life Insurance Policies	12 Months Ended
	Dec. 31, 2014
Investment in Life Insurance Policies [Abstract]
Investment in life insurance policies	( 3 ) Investment in life insurance policies
	The life insurance policies (Level 3 fair value measurements) are valued based on unobservable inputs that are significant to the overall fair value measurement. Changes in the fair value of these instruments are recorded in gain or loss on life insurance policies in the consolidated statements of operations (net of the cash premiums paid on the policies). The fair value is determined on a discounted cash flow basis that incorporates life expectancy assumptions. Life expectancy reports have been obtained from widely accepted life expectancy providers. 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. As a result of management’s analysis, discount rates of 11.43% and 11.69% were applied to the portfolio as of December 31, 2014 and 2013, respectively.
	A summary of the Company’s life insurance policies accounted for under the fair value method and their estimated maturity dates, based on remaining life expectancy, is as follows:
		As of December 31, 2014								As of December 31, 2013
	Years Ending December 31,	Number of Contracts			Estimated Fair Value			Face Value		Number of Contracts		Estimated Fair Value		Face Value
	2015		3		$	5,063,000		$	6,000,000		4	$	5,065,000	$	6,750,000
	2016		7			8,144,000			11,550,000		8		8,174,000		13,750,000
	2017		17			21,916,000			35,542,000		25		33,345,000		63,916,000
	2018		30			41,994,000			76,206,000		33		37,243,000		80,318,000
	2019		45			47,303,000			106,973,000		34		32,844,000		89,295,000
	2020		41			43,429,000			102,614,000		34		27,741,000		75,644,000
	2021		36			29,789,000			90,921,000		33		29,041,000		111,770,000
	Thereafter		112			85,245,000			349,293,000		92		61,220,000		299,205,000
	Totals		291		$	282,883,000		$	779,099,000		263	$	234,673,000	$	740,648,000
	The Company recognized insurance benefits of $18,050,000 and $16,600,000 during 2014 and 2013, respectively, related to policies with a carrying value of $4,186,000 and $4,564,000, respectively. The Company recorded realized gains of $13,864,000 and $12,036,000 on such policies. Subsequent to December 31, 2014, four policies covering three individuals have matured. The combined insurance benefits of these policies were $21,125,000. The Company recorded realized gains of $18,194,000 on four policies.
	Reconciliation of gain on life settlements:
		Years Ended December 31,
		2014			2013
	Change in fair value	$	39,928,000		$	39,338,000
	Premiums and other annual fees		(23,376,000	)		(21,860,000	)
	Policy maturities		13,864,000			12,036,000
	Gain on life settlements, net	$	30,416,000		$	29,514,000
	The estimated expected premium payments to maintain the above life insurance policies in force for the next five years, assuming no mortalities, are as follows:
	Years Ending December 31,
	2015	$	26,349,000
	2016		28,857,000
	2017		32,365,000
	2018		35,341,000
	2019		39,423,000
		$	162,335,000
	Management anticipates funding the estimated premium payments as noted above with proceeds from the DZ Bank revolving credit facility and through additional debt and equity financing as well as from cash proceeds from maturities of life insurance policies. The proceeds of these capital sources are also intended to be used for the purchase, financing, and maintenance of additional life insurance policies.

Fair_Value_Definition_and_Hier

Fair Value Definition and Hierarchy	12 Months Ended
	Dec. 31, 2014
Fair Value Definition and Hierarchy [Abstract]
Fair value definition and hierarchy	( 4 ) Fair value definition and hierarchy
	ASC 820 establishes a hierarchical disclosure framework which prioritizes and ranks the level of market price observability used in measuring assets and liabilities at fair value. Market price observability is affected by a number of factors, including the type of investment, the characteristics specific to the investment and the state of the marketplace including the existence and transparency of transactions between market participants. Assets and liabilities with readily available active quoted prices or for which fair value can be measured from actively quoted prices in an orderly market generally will have a higher degree of market price observability and a lesser degree of judgment used in measuring fair value. ASC 820 establishes a three-level valuation hierarchy for inputs used in measuring fair value that maximizes the use of observable inputs and minimizes the use of unobservable inputs by requiring that the most observable inputs be used when available. Observable inputs are inputs that market participants would use in pricing the asset or liability developed based on market data obtained from sources independent of the Company. Unobservable inputs are inputs that reflect the Company’s assumptions about the assumptions market participants would use in pricing the asset or liability developed based on the best information available in the circumstances. Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability (i.e., the “exit price”) in an orderly transaction between market participants at the measurement date.
	The hierarchy is broken down into three levels based on the observability of inputs as follows:
	●	Level 1 - Valuations based on quoted prices in active markets for identical assets or liabilities that the Company has the ability to access. Since valuations are based 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 - Valuations based on one or more quoted prices in markets that are not active or for which all significant inputs are observable, either directly or indirectly.
	●	Level 3 - Valuations based on inputs that are unobservable and significant to the overall fair value measurement.
	The availability of observable inputs can vary by types of assets and liabilities and is affected by a wide variety of factors, including, for example, whether an instrument is established in the marketplace, the liquidity of markets 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. Accordingly, the degree of judgment exercised by management in determining fair value is greatest for assets and liabilities categorized in Level 3.
	Level 3 Valuation Process
	The estimated fair value of the Company’s portfolio of life settlements is determined on a quarterly basis by the Company’s portfolio management committee, taking into consideration changes in discount rate assumptions, estimated premium payments and life expectancy estimate assumptions, as well as any changes in economic and other relevant conditions. These inputs are then used to estimate the discounted cash flows using the Model Actuarial Pricing System (MAPS), probabilistic portfolio price model, which estimates the cash flows using various probabilities and scenarios. The valuation process includes a review by senior management as of each valuation date. Management has also engaged a third party expert to independently test the accuracy of the valuations using the inputs provided by management on a quarterly basis.
	Life insurance policies, as well as the portfolio taken as a whole, represent financial instruments recorded at fair value on a recurring basis. The following table reconciles the beginning and ending fair value of the Company’s Level 3 investments in its portfolio of life insurance policies for the years ending December 31, as follows:
			Years Ended December 31,
			2014			2013
	Beginning balance		$	234,673,000		$	164,317,000
	Purchases			12,468,000			35,582,000
	Maturities (cash in excess of carrying value)			(4,186,000	)		(4,564,000	)
	Net change in fair value			39,928,000			39,338,000
	Ending balance		$	282,883,000		$	234,673,000
	The fair value of a portfolio of life insurance policies is based on information available to the Company at the reporting date. Fair value is based upon a discounted cash flow model that incorporates life expectancy estimate assumptions. Life expectancy estimates are obtained from independent, third-party widely accepted life expectancy estimate providers at policy acquisition. The life expectancy values of each insured, as determined at policy acquisition, are rolled down monthly for the passage of time by the MAPS actuarial software the Company uses for ongoing valuation of its portfolio of life insurance policies. The discount rate incorporates current information about discount rate applied by other reporting companies owning portfolios of life insurance policies, discount rates observed in the life insurance secondary market, market interest rates, the credit exposure to the insurance company that issued the life insurance policy and management’s estimate of the risk premium a purchaser would require to receive the future cash flows derived from our portfolio of life insurance policies.
	On September 15, 2014, 21st Services announced changes to its mortality tables primarily for insureds age 90 and older, as well as updated adjustment factors designed to better underwrite seniors with multiple impairments. These changes represent small portions of 21st Services’ historical underwritings. We expect medical-actuarial underwriting firms to continue improving and refining their underwriting methodology.
	The fair value of life insurance policies is estimated using present value calculations of estimated cash flows based on the data specific to each individual life insurance policy. Estimated future policy premium payments are calculated based on the terms of the policy and the premium payment history. The following summarizes the unobservable inputs utilized in estimating the fair value of the portfolio of life insurance policies:
			As of			As of
			December 31,			December 31,
			2014			2013
	Weighted average age of insured			82.8			82.1
	Weighted average life expectancy, months*			78.4			87
	Average face amount per policy		$	2,677,000		$	2,816,000
	Discount rate			11.43	%		11.69	%
	* Standard life expectancy as adjusted for insured’s specific circumstances.
	These assumptions are, by their nature, inherently uncertain and the effect of changes in estimates may be significant. The techniques used in estimating the present value of estimated cash flows are derived from valuation techniques generally used in the industry that include inputs for the asset that are not based on observable market data. The extent to which the fair value could reasonably vary in the near term has been quantified by evaluating the effect of changes in significant underlying assumptions used to estimate the fair value. If the life expectancy estimates were increased or decreased by four and eight months on each outstanding policy and the discount factors were increased or decreased by 1% and 2%, while all other variables are held constant, the fair value of the investment in life insurance policies would increase or (decrease) by the amounts summarized below:
			Changes in fair value of life insurance policies
	Change in life expectancy estimates		plus			minus			plus			minus
			8 months			8 months			4 months			4 months
	31-Dec-14		$	(38,864,000	)	$	40,634,000		$	(19,664,000	)	$	20,130,000
	31-Dec-13		$	(34,382,000	)	$	36,152,000		$	(17,417,000	)	$	17,865,000
	Change in discount rate		plus 2%			minus 2%			plus 1%			minus 1%
	31-Dec-14		$	(24,085,000	)	$	28,179,000		$	(12,502,000	)	$	13,522,000
	31-Dec-13		$	(22,944,000	)	$	27,063,000		$	(11,933,000	)	$	12,959,000
	Other Fair Value Considerations
	Carrying value of receivables, prepaid expenses, accounts payable and accrued expenses approximate fair value due to their short-term maturities and low credit risk. The estimated fair value of the Company’s Series I Secured Notes payable and L Bonds is approximately $216,837,000 based on a weighted-average market interest rate of 7.17% based on an income approach, the combined face value of these notes is $214,424,000 as of December 31, 2014. The carrying value of the revolving credit facility reflects interest charged at the commercial paper rate plus an applicable margin. The margin represents our credit risk, and the strength of the portfolio of life insurance policies collateralizing the debt. The overall rate reflects market, and the carrying value of the revolver approximates fair value. All of the financial instruments are Level 3 fair value measurements.
	The Company has issued warrants to purchase common stock in connection with the issuance of its convertible preferred stock. Warrants were determined by the Company as permanent equity. The fair value measurements associated with the warrants, measured at issuance represent Level 3 instruments.
	As of December 31, 2014:
	Month issued		Warrants			Fair value			Risk			Volatility			Term
			Issued			per share			free rate
	Dec-11			68,937		$	0.22			0.42	%		25.25	%	5 years
	Mar-12			38,130		$	0.52			0.38	%		36.2	%	5 years
	Jun-12			161,840		$	1.16			0.41	%		47.36	%	5 years
	Jul-12			144,547		$	1.16			0.41	%		47.36	%	5 years
	Sep-12			2,500		$	0.72			0.31	%		40.49	%	5 years
	Sep-14			16,000		$	1.26			1.85	%		17.03	%	5 years
				431,954
	Volatility is based upon the weekly percentage change in the stock price of selected comparable insurance companies. In June 2012, we evaluated the comparable companies used, and made certain changes to those used. The percentage change is calculated on the average price of those selected stocks at the weekly close of business for the year preceding the balance sheet date. We compare annual volatility based on this weekly information.
	In conjunction with the Company’s recent initial public offering, the Company issued a warrant for the purchase of up 16,000 shares of the Company’s common stock to the underwriters of the initial public offering.

Credit_Facilities

Credit Facilities	12 Months Ended
	Dec. 31, 2014
Credit facilities and Series I Secured Notes Payable and Renewable Secured Debentures (subsequently renamed L Bonds) [Abstract]
Credit facilities	( 5 ) Credit facilities
	Revolving credit facility – Autobahn Funding Company LLC
	On July 15, 2008, DLP II and United Lending entered into a revolving credit facility pursuant to a Credit and Security Agreement (Agreement) with Autobahn Funding Company LLC (Autobahn), providing the Company with a maximum borrowing amount of $100,000,000. Autobahn is a commercial paper conduit that issues commercial paper to investors in order to provide funding to DLP II. DZ Bank AG Deutsche Zentral-Genossenschaftsbank (DZ Bank) acts as the agent for Autobahn. The original Agreement was to expire on July 15, 2013. On January 29, 2013, GWG Holdings, together with GWG Life and DLP II, entered into an Amended and Restated Credit and Security Agreement with Autobahn, extending the facility expiration date to December 31, 2014. On May 29, 2014, GWG Holdings, together with GWG Life and DLP II, entered into an Amendment No. 1 to Amended and Restated Credit and Security Agreement with Autobahn and DZ Bank (as committed lender and Agent). The amendment was entered into for the purpose of extending the maturity date for borrowings under the agreement to December 31, 2016. The amount outstanding under this facility as of December 31, 2014 and 2013 were $72,161,000 and $79,000,000, respectively.
	The Agreement requires DLP II to pay, on a monthly basis, interest at the commercial paper rate plus an applicable margin, as defined in the Agreement. The effective rate was 6.24% at December 31, 2014 and 6.19% at December 31, 2013. The weighted average effective interest rate (excluding the unused line fee) was 6.24% and 6.14% for the years ended December 31, 2014 and 2013, respectively. The Agreement also requires payment of an unused line fee on the unfunded amount under the revolving credit facility. The note is secured by substantially all of DLP II assets which consist primarily of life insurance policies.
	The Agreement has certain financial and nonfinancial covenants. The Company was in compliance with these covenants at December 31, 2014 and December 31, 2013. The Agreement generally prohibits the Company from:
	●	changing its corporate name, offices, and jurisdiction of incorporation;
	●	changing any deposit accounts or payment instructions to insurers;
	●	changing any operating policies and practices such that it would be reasonably likely to adversely affect the collectability of any asset in any material respect;
	●	merging or consolidating with, or selling all or substantially all of its assets to, any third party;
	●	selling any collateral or creating or permitting to exist any adverse claim upon any collateral;
	●	engaging in any other business or activity than that contemplated by the Agreement;
	●	incurring or guaranteeing any debt for borrowed money;
	●	amending the Company’s certificate of incorporation or bylaws, making any loans or advances to, investments in, or paying any dividends to, any person unless both before and after any such loan, advance, investment or dividend there exists no actual event of default, potential event of default or termination event;
	●	removing an independent director on the board of directors except for cause or with the consent of the lender; or
	●	making payment on or issuing any Series I Secured Notes or L Bonds, or amending any agreements respecting such notes or bonds, if an event of default, potential event of default, or termination event exists or would arise from any such action.
	In addition, the Company has agreed to maintain (i) a positive consolidated net income on a Non-GAAP basis (as defined and calculated under the Agreement) for each complete fiscal year; (ii) a tangible net worth on a Non-GAAP basis (as defined and calculated under the Agreement) of not less than $15 million; and (iii) maintain a borrowing base surplus or cash cushion sufficient to pay 12 months of premiums and facility fees.
	Consolidated net income and tangible net worth as of and for the four quarters ended December 31, 2014, as calculated under the Agreement, was $29,369,000 and $87,381,000 respectively.
	Advances under the Agreement are subject to a borrowing base formula, which limits the availability of advances based on attributes of policies pledged to the facility. Over-concentration of policies by insurance carrier, over-concentration of policies by insurance carriers with ratings below a AA- rating, and the premiums and facility fees reserve are the three primary factors which might limit availability of funds on the facility. Total funds available for additional borrowings under the borrowing base formula criteria at December 31, 2014 and December 31, 2013, were $20,585,000 and $3,937,000 respectively.
	On July 15, 2008, GWG Holdings delivered a performance guaranty in favor of Autobahn pursuant to which it guaranteed the obligations of GWG Life, in its capacity as the seller and master servicer, under the Credit and Security Agreement and related documents. In January 2013 and May 2014 in connection with the Amended and Restated Credit and Security Agreement and Amendment No. 1 to Amended and Restated Credit and Security Agreement, GWG Holdings delivered a reaffirmation of its performance guaranty. The obligations of GWG Holdings under the performance guaranty and subsequent reaffirmation do not extend to the principal and interest owed by DLP II as the borrower under the credit facility.

Series_I_Secured_Notes_Payable

Series I Secured Notes Payable	12 Months Ended
	Dec. 31, 2014
Credit facilities and Series I Secured Notes Payable and Renewable Secured Debentures (subsequently renamed L Bonds) [Abstract]
Series I Secured Notes payable
	( 6 ) Series I Secured Notes payable
	Series I Secured Notes payable have been issued in conjunction with the GWG Series I Secured Notes private placement memorandum dated August 25, 2009 (last revised November 15, 2010). Series I Secured Notes are secured by assets of GWG Life and are subordinate to our revolving credit facility (see note 5). On June 14, 2011, the Company closed the offering to additional investors; however, existing investors may elect to continue advancing amounts outstanding upon maturity subject to the Company’s option. Series I Secured Notes have maturity dates ranging from six months to seven years with fixed interest rates varying from 5.65% to 9.55% depending on the term of the note. Interest is payable monthly, quarterly, annually or at maturity depending on the terms of the note. At December 31, 2014 and December 31, 2013, the weighted-average interest rate of Series I Secured Notes was 8.37% and 8.35%, respectively. The notes are secured by assets of GWG Life. The principal amount outstanding under these Series I Secured Notes was $28,047,000 and $29,744,000 at December 31, 2014 and December 31, 2013, respectively. The difference between the amount outstanding on the Series I Secured Notes and the carrying amount on the consolidated balance sheet is due to netting of unamortized deferred issuance costs. Overall, interest expense includes amortization of deferred financing and issuance costs of $552,000 and $606,000 in 2014 and 2013, respectively. Future expected amortization of deferred financing costs is $430,000 in total over the next six years.
	Future contractual maturities of Series I Secured Notes payable and future amortization of their deferred financing costs at December 31, 2014 are as follows:
	Years Ending December 31,	Contractual Maturities		Amortization of Deferred Financing Costs
	2015	$	13,887,000	$	92,000
	2016		8,242,000		161,000
	2017		4,713,000		134,000
	2018		754,000		30,000
	2019		347,000		8,000
	Thereafter		104,000		5,000
		$	28,047,000	$	430,000

Renewable_Secured_Debentures_S

Renewable Secured Debentures (Subsequently Renamed L Bonds)	12 Months Ended
	Dec. 31, 2014
Credit facilities and Series I Secured Notes Payable and Renewable Secured Debentures (subsequently renamed L Bonds) [Abstract]
Renewable Secured Debentures (subsequently renamed L Bonds)	( 7 ) Renewable Secured Debentures (subsequently renamed L Bonds)
	The Company registered with the SEC, effective January of 2012, the offer and sale of $250,000,000 of Renewable Secured Debentures (subsequently renamed “L Bonds”). The debentures are secured by assets of GWG Holdings and GWG Life and are subordinate to our revolving credit facility (see note 5). L Bonds have maturity dates ranging from six months to seven years with fixed interest rates varying from 4.25% to 9.50% depending on the term of the note. Interest is payable monthly, annually or at maturity depending on the terms of the debenture. At December 31, 2014 and December 31, 2013, the weighted-average interest rate of L Bonds was 7.45% and 7.53%, respectively. The amount outstanding under these L Bonds was $186,377,000 and $134,891,000 at December 31, 2014 and December 31, 2013, respectively. The difference between the amount outstanding on the L Bonds and the carrying amount on the consolidated balance sheets is due to netting of unamortized deferred issuance costs and cash receipts for new issuances in process. Amortization of deferred issuance costs was $3,537,000 and $1,843,000 in 2014 and 2013, respectively. Future expected amortization of deferred financing costs as of December 31, 2014 is $5,882,000 in total over the next seven years. Subsequent to December 31, 2014, the Company has issued approximately an additional $19,051,000 in principal amount of L Bonds.
	The use of proceeds from the issuances of L Bonds is limited to the following: (1) payment of commissions on sales of L Bonds, (2) payment of offering expenses, (3) purchase of life insurance policies, (4) payment of premiums on life insurance policies, (5) payment of principal and interest on L Bonds, (6) payment of portfolio operations expenses, and (7) general working capital.
	Future contractual maturities of L Bonds and future amortization of their deferred financing costs at December 31, 2014 are as follows:
	Years Ending December 31,	Contractual Maturities		Amortization of Deferred Financing Costs
	2015	$	63,375,000	$	871,000
	2016		50,270,000		1,578,000
	2017		29,546,000		1,253,000
	2018		13,551,000		668,000
	2019		14,262,000		670,000
	Thereafter		15,373,000		842,000
		$	186,377,000	$	5,882,000
	The Company entered into an Indenture effective October 19, 2011 with Holdings as obligor, GWG Life as guarantor, and Bank of Utah as trustee for the benefit of the debenture holders. The Indenture has certain financial and nonfinancial covenants. The Company was in compliance with these covenants at December 31, 2014 and 2013.

Convertible_Preferred_Stock

Convertible Preferred Stock	12 Months Ended
	Dec. 31, 2014
Equity [Abstract]
Convertible preferred stock	( 8 ) Convertible preferred stock
	The Company offered 3,333,333 shares of convertible redeemable preferred stock (Series A Preferred Stock) for sale to accredited investors in a private placement on July 31, 2011. The offering of Series A Preferred Stock concluded on September 2, 2012 and resulted in 3,278,000 shares being issued for gross consideration of $24,582,000. As of December 31, 2014, 277,000 shares have been issued as a result of conversion of $1,936,681 in dividends into shares of Series A Preferred Stock and 678,000 shares have been converted to 508,000 shares of the Company’s common stock. The Series A Preferred Stock was sold at an offering price of $7.50 per share. Series A Preferred Stock has a preferred yield of 10% per annum, and each share has the right to convert into 0.75 shares of the Company’s common stock. Series A preferred shareholders also received three-year warrants to purchase, at an exercise price per share of $12.50, one share of common stock for every 40 shares of Series A Preferred Stock purchased. The warrants are exercisable immediately. Upon their original issuance, these warrants had a three-year exercise period. Effective August 1, 2014, the Board of Directors authorized the extension of the warrant exercise period for an additional two years. In the Certificate of Designations for the Series A Preferred Stock dated July 31, 2011, the Company agreed to permit preferred shareholders to sell their shares back to the Company for the stated value of $7.50 per share, plus accrued dividends, according to the following schedule:
	●	Up to 33% of the holder’s unredeemed shares one year after issuance:
	●	Up to 66% of the holder’s unredeemed shares two years after issuance; and
	●	Up to 100% of the holder’s unredeemed shares three years after issuance.
	The Company’s obligation to redeem its Series A preferred stock terminated upon the Company completing a registration of its common stock with the SEC which occurred on September 24, 2014 (See Note 11). As such, the convertible redeemable preferred stock was reclassified from temporary equity to permanent equity. The Company may redeem the Series A preferred shares at a price equal to 110% of their liquidation preference ($7.50 per share) at any time. As of December 31, 2014, the Company had redeemed an aggregate of 145,000 shares of Series A preferred stock. The Series A Preferred Stock shares (i) were convertible, at the election of the Company, into common stock of the Company in the event of either a registered offering of the Company’s common stock with the SEC aggregating gross proceeds of at least $5.0 million and at a price equal to or greater than $11.00 per share; (ii) remain convertible at the option of each holder; and (iii) are required to be converted upon the consent of shareholders holding at least a majority of the then-outstanding Series A preferred stock. In connection with the Company’s initial public offering, the Company elected to cause the conversion of 677,566 shares of preferred stock into 508,193 shares of common stock. As of December 31, 2014, the Company had 2,739,000 shares of Series A Preferred Stock outstanding with gross consideration of $20,528,000 (including cash proceeds, conversion of Series I Secured Notes and accrued interest on Series I notes, and conversion of preferred dividends payable). The Company incurred Series A Preferred Stock issuance costs of $2,838,000, all of which was included as a component of additional paid in capital as of December 31, 2014.
	The Company determined that the grant date fair value of the outstanding warrants attached to the Series A Preferred Stock was $428,000 for warrants outstanding as of December 31, 2014. The Company may redeem outstanding warrants prior to their expiration, at a price of $0.01 per share upon 30 days written notice to the investors at any time after (i) the Company has completed a registration of its common stock with the SEC and (ii) the volume of weighted-average sale price per share of common stock equals or exceeds $14.00 per share for ten consecutive trading days ending on the third business day prior to proper notice of such redemption.
	In conjunction with the Company’s initial public offering a warrant for purchase of up to 16,000 shares of the Company’s common stock was issued to the underwriters of the initial public offering. These warrants are not exercisable prior to March 17, 2015 and expire on September 18, 2019. Total warrants outstanding as of December 31, 2014, were 431,954 with a weighted-average remaining life of 2.43 years. Total warrants outstanding at December 31, 2013, were 415,955 with a weighted-average remaining life of 1.34 years. As of December 31, 2014, none of these warrants have been exercised.
	Dividends on the Series A Preferred Stock may be paid in either cash or additional shares of Series A Preferred Stock at the election of the holder and approval of the Company. The dividends are reported as an expense and included in the caption interest expense in the consolidated statements of operations. The Company declared and accrued dividends of $2,428,000 and $2,528,000 in 2014 and 2013, respectively, pursuant to a board resolution declaring the dividend. 111,000 and 89,000 shares of Series A Preferred Stock were issued in lieu of cash dividends in 2014 and 2013, respectively. The shares issued in lieu of cash dividends were issued at $7.00 per share. As of December 31, 2014, GWG Holdings has $513,000 of accrued preferred dividends which were paid or converted to shares of Series A Preferred Stock on January 15, 2015.

Income_Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2014
Income Taxes [Abstract]
Income taxes	( 9 ) Income taxes
	The Company did not have any current income taxes for the years ended December 31, 2014 or 2013. The components of deferred income tax benefit for 2014 and income tax expense for 2013, consisted of the following:
	Income tax provision (benefit):	2014			2013
	Deferred:
	Federal	$	(1,820,000	)	$	1,826,000
	State		(582,000	)		348,000
	Total income tax expense (benefit)	$	(2,402,000	)	$	2,174,000
	The following table provides a reconciliation of our income tax expense (benefit) at the statutory federal tax rate to our actual income tax expense (benefit):
		2014						2013
	Statutory federal income tax	$	(2,844,000	)		(34.0	)%	$	673,000	34	%
	State income taxes, net of federal benefit		(374,000	)		(4.5	)%		298,000	15.1	%
	Series A Preferred Stock dividends		826,000			9.9	%		860,000	43.4	%
	Other permanent differences		(10,000	)		(0.1	)%		343,000	17.3	%
	Total income tax expense (benefit)	$	(2,402,000	)		(28.7	)%	$	2,174,000	109.8	%
	The primary differences between the Company’s December 31, 2014 effective tax rate and the statutory federal rate are the accrual of nondeductible preferred stock dividend expense of $2,428,000, state taxes, and other non-deductible expenses. The most significant temporary differences between GAAP net income and taxable net income are the treatment of interest costs with respect to the acquisition of the life insurance policies and revenue recognition with respect to the mark-to-market of life insurance portfolio.
	The tax effects of temporary differences that give rise to deferred income taxes were as follows:
		2014			2013
	Deferred tax assets :
	Note receivable from related party	$	2,023,000		$	2,023,000
	Net operating loss carryforwards		4,517,000			2,596,000
	Other assets		272,000			164,000
	Subtotal		6,812,000			4,783,000
	Valuation allowance		(2,164,000	)		(2,164,000	)
	Net deferred tax asset		4,648,000			2,619,000
	Deferred tax liabilities:
	Investment in life settlements		(9,922,000	)		(10,294,000	)
	Net deferred tax assets	$	(5,274,000	)	$	(7,675,000	)
	At December 31, 2014 and 2013, the Company had federal net operating loss (NOL) carryforwards of $11,163,000 and $4,182,000, respectively, and aggregate state NOL carryforwards of approximately $7,334,000 and $2,748,000, respectively. The NOL carryforwards will begin to expire in 2031. Future utilization of NOL carryforwards is subject to limitations under Section 382 of the Internal Revenue Code. This section generally relates to a more than 50 percent change in ownership over a three-year period. We currently do not believe that any issuance of common stock has resulted in an ownership change under Section 382.
	The Company provides for a valuation allowance when it is not considered more likely than not that our deferred tax assets will be realized. At both December 31, 2014 and 2013 based upon all available evidence, the Company has provided a valuation allowance of $2,164,000, against deferred tax assets related to the likelihood of recovering the tax benefit of a capital loss on a note receivable from a related entity. Management believes all other deferred tax assets are recoverable.
	ASC 740, Income Taxes, requires the reporting of certain tax positions which do not meet a threshold of "more-likely-than-not" to be recorded as uncertain tax benefits. It management's responsibility to determine whether it is "more-likely-than-not" that a tax position will be sustained upon examination, including resolution of any related appeals or litigation, based upon the technical merits of the position. Management has reviewed all income tax positions taken or expected to be taken for all open years and determined that the income tax positions are appropriately stated and supported. The Company does not anticipate that the total unrecognized tax benefits will significantly change prior to December 31, 2015.
	Under the Company’s accounting policies, interest and penalties on unrecognized tax benefits, as well as interest received from favorable tax settlements are recognized as components of income tax expense. At December 31, 2014 and 2013, the Company has recorded no accrued interest or penalties related to uncertain tax positions.
	The Company’s income tax returns for tax years ended December 31, 2012, 2013, and 2014, when filed, remain open to examination by the Internal Revenue Service and various state taxing jurisdictions.

Common_Stock

Common Stock	12 Months Ended
	Dec. 31, 2014
Equity [Abstract]
Common Stock	( 10 ) Common Stock
	On September 24, 2014, GWG consummated an initial public offering of its common stock which resulted in the sale of 800,000 shares of common stock at $12.50 per share. The sale resulted in net proceeds of approximately $8.6 million after the deduction of underwriting commissions, discounts and expense reimbursements. In connection with this offering, the Company listed its common stock on The NASDAQ Capital Market under the ticker symbol “GWGH” effective September 25, 2014. The Company used the net proceeds from the offering to promote and advertise the opportunities for consumers owning life insurance and investors to profit from participating in the secondary market for life insurance policies, purchase additional life insurance policies in the secondary market, pay premiums on the Company’s life insurance policy assets, fund its portfolio operations, and for working capital purposes.
	On July 11, 2011, GWG entered into a Purchase and Sale Agreement with Athena Securities Group, Ltd. and Athena Structured Funds PLC. Under this agreement, GWG issued to Athena Securities Group, Ltd. (Athena) 494,500 shares of common stock, which was equal to 9.9% of GWG’s outstanding shares, in exchange for shares equal to 9.9% of the outstanding shares in Athena Structured Funds, PLC and cash of $5,000. This 2011 agreement had contemplated cooperative efforts by the parties aimed at developing a security and related offering in Europe or Ireland, the proceeds of which would be used to finance the acquisition of life-insurance related assets in the United States. In 2013, GWG sought to terminate the 2011 agreement due to a changing regulatory environment in Europe that negatively affected the likelihood of consummating the contemplated offering of securities, and the Company’s dissatisfaction with Athena’s performance under the 2011 agreement. As a result, in June 2013 GWG entered into a second Purchase and Sale Agreement with Athena Securities Ltd. and Athena. This agreement effected the termination of the 2011 agreement. The June 2013 agreement contained mutual general releases of claims and substantially unwound certain capital stock transactions that had been effected under the 2011 agreement. In particular, Athena returned to GWG for redemption 432,500 shares of the Company’s common stock, and retained 62,000 common shares in recognition of their earlier efforts under the 2011 agreement. For GWG’s part, the Company sold back to Athena all of its ownership in Athena Structured Funds, PLC that it had originally acquired under the 2011 agreement. Presently, GWG has no ongoing business relationship with Athena.
	Stock split— On June 24, 2014, the Company’s Board of Directors and majority stockholders approved a joint resolution to effect an amendment to the Company’s Certificate of Incorporation to effect a reverse split of the issued and outstanding common stock on a 2-for-1 basis. The effective date of the amendment and reverse stock split was June 24, 2014. In lieu of fractional shares, stockholders received cash payments in an amount equal to the fraction to which the stockholder would otherwise be entitled multiplied by the price of the common stock, as determined by the Board of Directors of the Company, but adjusted so as to give effect to the reverse stock split. The par value of the common stock remained at $0.001 per share.

Stock_Incentive_Plan

Stock Incentive Plan	12 Months Ended
	Dec. 31, 2014
Stock Incentive Plan [Abstract]
Stock Incentive Plan	( 11 ) Stock Incentive Plan
	The Company adopted the GWG Holdings, Inc. 2013 Stock Incentive Plan on March 27, 2013. The plan was subsequently revised on March 4, 2015. The plan is administered by Compensation Committee of the Board of Directors of the Company. The Company’s Chief Executive Officer may, on a discretionary basis and without committee review or approval, grant incentives to new employees of the Company who are not Officers of the Company. Incentives under the plan may be granted in one or a combination of the following forms: (a) incentive stock options and non-statutory stock options; (b) stock appreciation rights; (c) stock awards; (d) restricted stock; (e) restricted stock units; and (f) performance shares. Eligible participants include officers and employees of the company, members of the Board of Directors, and consultants or other independent contractors. 2,000,000 shares are issuable under the plan. No person shall receive grants of stock options and SARs under the plan that exceed, in the aggregate 400,000 shares of common stock in any one year. The term of each stock option shall be determined by the committee but shall not exceed ten years. Vested stock options may be exercised in whole or part by the holder giving notice to the Company. The holder of the option may provide payment for the exercise price or surrender shares equal to the exercise price.
	The Company issued stock options for 745,601 shares of common stock to employees, officers, and directors of the Company through December 31, 2014. Options for 314,288 shares have vested, and the remaining options will vest over three years. The options were issued with an exercise price between $8.20 and $9.01 for those owning more than 10% of the Company’s stock and between $7.46 and $10.25 for others, which is equal to the estimated market price of the shares on the date of grant valued using Black-Scholes binomial option pricing model. The expected volatility used in the Black-Scholes model valuation of options issued during the year was 17.03% annualized. The annual volatility rate is based on the standard deviation of the average continuously compounded rate of return of five selected comparable companies over the previous 52 weeks. Forfeiture rate of 15% is based on historical Company information and expected future trend. As of December 31, 2014, stock options for 63,166 shares were forfeited and stock options for 334 shares were exercised.
	In September 2014, we entered into a stock option agreement (the Agreement) with a new management employee (the Employee) granting the Employee the right to purchase up to 318,000 of the Company’s common stock at an exercise price of $12.50. The grant of such rights to purchase the Company’s common stock was treated as an inducement grant and was issued outside the GWG Holdings Inc. 2013 Stock Incentive Plan. The Agreement specifies that, among other things, options to purchase 159,000 shares of the Company’s common stock will vest with the Employee ratably on the first, second and third anniversary of the date of the Agreement. The remaining 159,000 options will vest quarterly using a formula based upon the closing price of the Company’s common stock on the last business day of such quarter. The maximum number of these remaining options that will vest with the Employee is 53,000 in each successive one-year period beginning on the date of the Agreement.
	Outstanding stock options:
		Vested			Un-vested			Total
	Balance as of December 31, 2013		195,000			210,250			405,250
	Granted during the year		64,450			565,901			630,351
	Vested during the year		72,089			(72,089	)		-
	Exercised during the year		(334	)		-			(334	)
	Forfeited during the year		(16,917	)		(18,249	)		(35,166	)
	Expired during the year		-			-			-
	Balance as of December 31, 2014		314,288			685,813			1,000,101
	Compensation expense related to un-vested options not yet recognized is $591,000. We expect to recognize this compensation expense over the next three years ($221,000 in 2015, $212,000 in 2016, and $158,000 in 2017). The Company issues new common stock for options exercised.

Net_loss_per_common_share

Net loss per common share	12 Months Ended
	Dec. 31, 2014
Net loss per common share [Abstract]
Net loss per common share	( 12 ) Net loss per common share
	The Company began issuing Series A Preferred Stock September, 1, 2011, as described in note 8. The Series A Preferred Stock is anti-dilutive to the net loss per common share calculation at December 31, 2014 and 2013. The Company has also issued warrants to purchase common stock in conjunction with the sale of convertible preferred stock, discussed in note 8. The warrants and vested stock options are anti-dilutive at December 31, 2014 and 2013 and have not been included in the fully diluted net loss per common share calculation.
	As of December 31,	2014			2013
	NET LOSS		(5,962,909	)		(194,955	)
	(Loss) attributable to preferred shareholders		(138,374	)		(806,624	)
	LOSS ATTRIBUTABLE TO COMMON SHAREHOLDERS	$	(6,101,283	)	$	(1,001,579	)
	Basic and diluted weighted average shares outstanding		4,909,657			4,758,699
	NET LOSS PER COMMON SHARE (BASIC AND DILUTED)
	Net loss	$	(1.21	)	$	(0.04	)
	(Loss) attributable to preferred shareholders	$	(0.03	)	$	(0.17	)
	Net loss attributable to common shareholders	$	(1.24	)	$	(0.21	)

Commitments

Commitments	12 Months Ended
	Dec. 31, 2014
Commitments and Contingencies [Abstract]
Commitments	( 13 ) Commitments
	The Company entered into an office lease with U.S. Bank National Association as the landlord. The lease was effective April 22, 2012 with a term through August 31, 2015. The lease is for 11,695 square feet of office space located at 220 South Sixth Street, Minneapolis, Minnesota. The Company is obligated to pay base rent plus common area maintenance and a share of the building operating costs. Rent expenses under this agreement were $211,000 and $200,000 during 2014 and 2013, respectively. The minimum lease payments for 2015 under the lease agreement are $70,000.

Contingencies

Contingencies	12 Months Ended
	Dec. 31, 2014
Commitments and Contingencies [Abstract]
Contingencies	( 14 ) Contingencies
	Litigation - In the normal course of business, the Company is involved in various legal proceedings. In the opinion of management, any liability resulting from such proceedings would not have a material adverse effect on the Company’s financial position, results of operations or cash flows.
	Opportunity Finance, LLC, owned by Jon Sabes and Steven Sabes, is subject to litigation clawback claims by the bankruptcy trustee for third-party matters for payments that may have been deemed preference payments. In addition, Jon Sabes and Steven Sabes are subject to litigation clawback claims by the bankruptcy trustee for third-party matters for payments received from Opportunity Finance that may have been deemed preference payments. If the parties are unsuccessful in defending against these claims, it is possible that their equity ownership in the Company may be sold or transferred to other parties to satisfy such claims. In addition, the Company loaned $1,000,000 to Opportunity Finance, LLC, and was repaid in full plus interest of $177,000. This investment amount may also be subject to clawback claims by the bankruptcy trustee. At present, no such claims have been brought.

Guarantees_of_L_Bonds

Guarantees of L Bonds	12 Months Ended
	Dec. 31, 2014
Guarantees of L Bonds [Abstract]
Guarantees of L Bonds	( 15 ) Guarantees of L Bonds
	GWG Holdings has registered with the SEC the offer and sale $250,000,000 of L Bonds as described in note 7. The secured debentures are secured by the assets of Holdings as described in note 7 and a pledge of all the common stock by the largest shareholders. Obligations under the debentures are guaranteed by GWG Life. This guarantee involves the grant of a security interest in all the assets of GWG Life. The payment of principal and interest on the secured debentures is fully and unconditional guaranteed by GWG Life. Substantially all of the Company’s life insurance policies are held by DLP II and the Trust. The policies held by DLP II are not collateral for the debenture obligations as such policies serve as collateral for the credit facility.
	The consolidating financial statements are presented in lieu of separate financial statements and other related disclosures of the subsidiary guarantors and issuer because management does not believe that separate financial statements and related disclosures would be material to investors. There are currently no significant restrictions on the ability of Holdings or GWG Life, the guarantor subsidiary, to obtain funds from its subsidiaries by dividend or loan, except as follows. DLP II is a borrower under a credit agreement with Autobahn, with DZ Bank AG as agent, as described in note 5. The significant majority of insurance policies owned by the Company are subject to a collateral arrangement with DZ Bank AG described in notes 2 and 5. Under this arrangement, collection and escrow accounts are used to fund premiums of the insurance policies and to pay interest and other charges under the revolving credit facility. DZ Bank AG and Autobahn must authorize all disbursements from these accounts, including any distributions to GWG Life. Distributions are limited to an amount that would result in the borrowers (DLP II, GWG Life and Holdings) realizing an annualized rate of return on the equity funded amount for such assets of not more than 18%, as determined by DZ Bank AG. After such amount is reached, the credit agreement requires that excess funds be used for repayments of borrowings before any additional distributions may be made.
	The following represents consolidating financial information as of December 31, 2014 and December 31, 2013, with respect to the financial position, and for the three and nine months ended December 31, 2014 and 2013 with respect to results of operations and cash flows of GWG Holdings and its subsidiaries. The parent column presents the financial information of GWG Holdings, the primary obligor of the secured debentures. The guarantor subsidiary column presents the financial information of GWG Life, the guarantor subsidiary of the secured debentures, presenting its investment in DLP II and Trust under the equity method. The non-guarantor subsidiaries column presents the financial information of all non-guarantor subsidiaries including DLP II and Trust.
	Consolidating Balance Sheets
					Guarantor			Non-Guarantor
	31-Dec-14	Parent			Subsidiary			Subsidiaries			Eliminations			Consolidated
	A S S E T S
	Cash and cash equivalents	$	30,446,473		$	216,231		$	-		$	-		$	30,662,704
	Restricted cash		-			82,500			4,213,553			-			4,296,053
	Investment in life settlements, at fair value		-			-			282,883,010			-			282,883,010
	Deferred financing costs, net		569,400			1,000,000			-			-			1,569,400
	Other assets		1,104,328			777,534			1,777,500			-			3,659,362
	Investment in subsidiaries		185,636,417			215,124,779			-			(400,761,196	)		-
	TOTAL ASSETS	$	217,756,618		$	217,201,044		$	288,874,063		$	(400,761,196	)	$	323,070,529
	L I A B I L I T I E S & S T O C K H O L D E R S' E Q U I T Y (D E F I C I T)
	LIABILITIES
	Revolving credit facility	$	-		$	-		$	72,161,048		$	-		$	72,161,048
	Series I Secured Notes payable		-			27,616,578			-			-			27,616,578
	L Bonds		182,782,884			-			-			-			182,782,884
	Accounts payable		410,895			242,680			550,000			-			1,203,575
	Interest payable		6,598,250			3,513,615			1,016,654			-			11,128,519
	Other accrued expenses		301,098			191,753			21,583			-			514,434
	Deferred taxes		5,273,555			-			-			-			5,273,555
	TOTAL LIABILITIES		195,366,682			31,564,626			73,749,285			-			300,680,593
	STOCKHOLDERS’ EQUITY (DEFICIT)
	Member capital		-			185,636,418			215,124,778			(400,761,196	)		-
	Convertible preferred stock		20,527,866			-			-			-			20,527,866
	Common stock		5,870			-			-			-			5,870
	Additional paid-in capital		16,257,686			-			-			-			16,257,686
	Accumulated deficit		(14,401,486	)		-			-			-			(14,401,486	)
	TOTAL STOCKHOLDERS’ EQUITY (DEFICIT)		22,389,936			185,636,418			215,124,778			(400,761,196	)		22,389,936
	TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY (DEFICIT)	$	217,756,618		$	217,201,044		$	288,874,063		$	(400,761,196	)	$	323,070,529
					Guarantor			Non-Guarantor
	31-Dec-13	Parent			Subsidiary			Subsidiaries			Eliminations			Consolidated
	A S S E T S
	Cash and cash equivalents	$	32,711,636		$	738,157		$	-		$	-		$	33,449,793
	Restricted cash		-			1,420,000			4,412,970			-			5,832,970
	Investment in life settlements, at fair value		-			-			234,672,794			-			234,672,794
	Deferred financing costs, net		-			-			357,901			-			357,901
	Other assets		381,883			484,510			200,625			-			1,067,018
	Investment in subsidiaries		129,839,241			159,798,490			-			(289,637,731	)		-
	TOTAL ASSETS	$	162,932,760		$	162,441,157		$	239,644,290		$	(289,637,731	)	$	275,380,476
	L I A B I L I T I E S & S T O C K H O L D E R S' E Q U I T Y (D E F I C I T)
	LIABILITIES
	Revolving credit facility	$	-		$	-		$	79,000,000		$	-		$	79,000,000
	Series I Secured Notes payable		-			29,275,202			-			-			29,275,202
	L Bonds		131,646,062			-			-			-			131,646,062
	Accounts payable		233,214			106,655			500,000			-			839,869
	Interest payable		3,806,820			3,065,465			337,123			-			7,209,408
	Other accrued expenses		340,812			154,594			8,677			-			504,083
	Deferred taxes		7,675,174			-			-			-			7,675,174
	TOTAL LIABILITIES		143,702,082			32,601,916			79,845,800			-			256,149,798
	CONVERTIBLE, REDEEMABLE PREFERRED STOCK		24,722,693			-			-			-			24,722,693
	STOCKHOLDERS’ EQUITY (DEFICIT)
	Member capital		-			129,839,241			159,798,490			(289,637,731	)		-
	Common stock		4,562			-			-			-			4,562
	Additional paid-in capital		2,942,000			-			-			-			2,942,000
	Accumulated deficit		(8,438,577	)		-			-			-			(8,438,577	)
	TOTAL STOCKHOLDERS’ EQUITY (DEFICIT)		(5,492,015	)		129,839,241			159,798,490			(289,637,731	)		(5,492,015	)
	TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY (DEFICIT)	$	162,932,760		$	162,441,157		$	239,644,290		$	(289,637,731	)	$	275,380,476
	Consolidated Statements of Operations
	For the year ended December 31, 2014	Parent			Guarantor Subsidiary			Non-Guarantor Subsidiaries			Eliminations			Consolidated
	REVENUE
Contract servicing fees	$	-		$	1,615,674		$	-		$	(1,615,674	)	$	-
Gain on life settlements, net		-			-			30,416,127			-			30,416,127
Interest and other income		24,037			231,034			33,469			(228,092	)		60,448
TOTAL REVENUE		24,307			1,846,708			30,449,596			(1,843,766	)		30,476,575
EXPENSES
Origination and servicing fees		-			-			1,615,674			(1,615,674	)		-
Interest expense		18,248,599			3,110,165			5,358,034			-			26,716,798
Employee compensation and benefits		3,018,570			1,951,066			-			-			4,969,636
Legal and professional fees		2,021,763			307,386			10,086			-			2,339,235
Other expenses		2,832,867			1,929,557			281,102			(228,092	)		4,815,434
TOTAL EXPENSES		26,121,799			7,298,174			7,264,896			(1,843,766	)		38,841,103
INCOME (LOSS) BEFORE EQUITY IN INCOME OF SUBSIDIARIES		(26,097,762	)		(5,451,466	)		23,184,700			-			(8,364,528	)
EQUITY IN INCOME OF SUBSIDIARIES		17,733,234			23,184,700			-			(40,917,934	)		-
NET INCOME BEFORE INCOME TAXES		8,364,528			17,733,234			23,184,700			(40,917,934	)		(8,364,528	)
INCOME TAX BENEFIT		(2,401,619	)		-			-			-			(2,401,619	)
NET INCOME (LOSS)		(5,962,909	)		17,733,234			23,184,700			(40,917,934	)		(5,962,909	)
(Loss) attributable to preferred shareholders		(138,374	)		-			-			-			(138,374	)
LOSS ATTRIBUTABLE TO COMMON SHAREHOLDERS	$	(6,101,283	)	$	-		$	-		$	-		$	(6,101,283	)
For the year ended December 31, 2013	Parent			Guarantor Subsidiary			Non-Guarantor Subsidiaries			Eliminations			Consolidated
REVENUE
Contract servicing fees	$	-		$	3,710,737		$	-		$	(3,710,737	)	$	-
Gain on life settlements, net		-			-			29,513,642			-			29,513,642
Interest and other income		3,334,331			2,612,420			79,767			(2,475,386	)		3,551,132
TOTAL REVENUE		3,334,331			6,323,157			29,593,409			(6,186,123	)		33,064,774
EXPENSES
Origination and servicing fees		-			-			3,710,737			(3,710,737	)		-
Interest expense		11,800,718			3,684,811			5,277,115			-			20,762,644
Employee compensation and benefits		3,424,383			1,619,465			-			-			5,043,848
Legal and professional fees		1,206,520			514,728			32,961			-			1,754,209
Other expenses		2,004,636			1,463,084			2,532,927			(2,475,386	)		3,525,261
TOTAL EXPENSES		18,436,257			7,282,088			11,553,740			(6,186,123	)		31,085,962
INCOME (LOSS) BEFORE EQUITY IN INCOME OF SUBSIDIARIES		(15,101,926	)		(958,931	)		18,039,669			-			1,978,812
EQUITY IN INCOME OF SUBSIDIARIES		17,080,738			18,088,189			-			(35,168,927	)		-
NET INCOME BEFORE INCOME TAXES		1,978,812			17,129,258			18,039,669			(35,168,927	)		1,978,812
INCOME TAX EXPENSE		2,173,767			-			-			-			2,173,767
NET INCOME (LOSS)		(194,955	)		17,129,258			18,039,669			(35,168,927	)		(194,955	)
Accretion of preferred stock to liquidation value		(806,624	)		-			-			-			(806,624	)
LOSS ATTRIBUTABLE TO COMMON SHAREHOLDERS	$	(1,001,579	)	$	-		$	-		$	-		$	(1,001,579	)
Consolidated Statements of Cash Flows
For the year ended December 31, 2014	Parent			Guarantor Subsidiary			Non-Guarantor Subsidiaries			Eliminations			Consolidated
CASH FLOWS FROM OPERATING ACTIVITIES
Net income (loss)	$	(5,962,909	)	$	17,733,234		$	23,184,700		$	(40,917,934	)	$	(5,962,909	)
Adjustments to reconcile net income (loss) to cash flows from operating activities:
Equity of subsidiaries		(17,733,234	)		(23,184,700	)		-			40,917,934			-
Gain on life settlements		-			-			(39,928,003	)		-			(39,928,003	)
Amortization of deferred financing and issuance costs		2,967,617			479,278			357,900			-			3,804,795
Deferred income taxes		(2,401,619	)		-			-			-			(2,401,619	)
Preferred stock issued for dividends		774,085			-			-			-			774,085
Convertible, redeemable preferred stock dividends payable		(116,207	)		-			-			-			(116,207	)
(Increase) decrease in operating assets:
Due from related parties		-			(291	)		-			-			(291	)
Insurance benefits receivable		-			-			(1,750,000	)		-			(1,750,000	)
Other assets		(39,118,259	)		(33,434,321	)		-			70,205,530			(2,347,050	)
Increase (decrease) in operating liabilities:
Accounts payable		177,681			136,025			50,000			-			363,706
Interest payable		3,359,926			599,419			679,531			-			4,638,876
Other accrued expenses		430,601			16,367			10,408			-			457,376
NET CASH FLOWS USED IN OPERATING ACTIVITIES		(57,622,318	)		(37,654,989	)		(17,395,464	)		70,205,530			(42,467,241	)
CASH FLOWS FROM INVESTING ACTIVITIES
Investment in life settlements		-			-			(12,292,401	)		-			(12,292,401	)
Proceeds from settlement of life settlements		-			-			4,185,813			-			4,185,813
NET CASH FLOWS USED IN INVESTING ACTIVITIES		-			-			(8,106,588	)		-			(8,106,588	)
CASH FLOWS FROM FINANCING ACTIVITIES
Net proceeds from revolving credit facility		-			-			(6,838,952	)		-			(6,838,952	)
Payments for redemption of Series I Secured Notes payable		-			(2,268,379	)		-			-			(2,268,379	)
Proceeds from issuance of debentures		65,713,297			-			-			-			65,713,297
Payments for issuance of debentures		(4,104,876	)		-			-			-			(4,104,876	)
Payments for redemption of debentures		(14,429,017	)		-			-			-			(14,429,017	)
Proceeds (payments) from restricted cash		-			1,337,500			199,416			-			1,536,916
Issuance of common stock		8,642,990			-			-			-			8,642,990
Issuance of member capital		-			38,063,942			32,141,588			(70,205,530	)		-
Payments for redemption of preferred stock		(456,239	)		-			-			-			(465,239	)
NET CASH FLOWS PROVIDED BY FINANCING ACTIVITIES		55,357,155			37,133,063			25,502,052			(70,205,530	)		47,786,740
NET DECREASE IN CASH AND CASH EQUIVALENTS		(2,265,163	)		(521,926	)		-			-			(2,787,089	)
CASH AND CASH EQUIVALENTS
BEGINNING OF THE YEAR		32,711,636			738,157			-			-			33,449,793
END OF THE YEAR	$	30,446,473		$	216,231		$	-		$	-		$	30,662,704
For the year ended December 31, 2013	Parent			Guarantor Subsidiary			Non-Guarantor Subsidiaries			Eliminations			Consolidated
CASH FLOWS FROM OPERATING ACTIVITIES
Net income (loss)	$	(194,955	)	$	17,129,258		$	18,039,669		$	(35,168,927	)	$	(194,955	)
Adjustments to reconcile net income (loss) to cash flows from operating activities:
Equity of subsidiaries		(17,080,738	)		(18,088,189	)		-			35,168,927			-
Gain on life settlements		-			-			(39,337,542	)		-			(39,337,542	)
Amortization of deferred financing and issuance costs		1,908,248			823,004			(260,861	)		-			2,470,391
Deferred income taxes		2,173,767			-			-			-			2,173,767
Preferred stock issued for dividends		623,899			-			-			-			623,899
Convertible, redeemable preferred stock dividends payable		255			-			-			-			255
Repurchase of common stock		(3,252,400	)											(3,252,400	)
(Increase) decrease in operating assets:
Due from related parties		-			8,613			-			-			8,613
Insurance benefits receivable		-			-			2,850,000			-			2,850,000
Other assets		(51,522,808	)		(45,077,218	)		-			96,033,606			(566,420	)
Increase (decrease) in operating liabilities:
Accounts payable		160,130			1,680			208,000			-			369,810
Interest payable		2,399,975			809,540			208,918			-			3,418,433
Other accrued expenses		277,321			(224,990	)		(1,690	)		-			50,641
NET CASH FLOWS USED IN OPERATING ACTIVITIES		(64,507,306	)		(44,618,302	)		(18,293,506	)		96,033,606			(31,385,508	)
CASH FLOWS FROM INVESTING ACTIVITIES
Investment in life settlements		-			-			(34,997,500	)		-			(34,997,500	)
Proceeds from settlement of life settlements		-			-			4,563,896			-			4,563,896
NET CASH FLOWS USED IN INVESTING ACTIVITIES		-			-			(30,433,604	)		-			(30,433,604	)
CASH FLOWS FROM FINANCING ACTIVITIES
Net proceeds from revolving credit facility		-			-			8,000,000			-			8,000,000
Payments for redemption of Series I Secured Notes payable		-			(8,671,624	)		-			-			(8,671,624	)
Proceeds from issuance of debentures		85,260,976			-			-			-			85,260,976
Payments for issuance of debentures		(4,320,542	)		-			-			-			(4,320,542	)
Payments for redemption of debentures		(8,143,363	)		-			-			-			(8,143,363	)
Proceeds (payments) from restricted cash		-			328,700			(4,068,578	)		-			(3,739,878	)
Issuance of member capital		-			51,237,918			44,795,688			(96,033,606	)		-
Payments for redemption of preferred stock		(613,708	)		-			-			-			(613,708	)
NET CASH FLOWS PROVIDED BY FINANCING ACTIVITIES		72,183,363			42,894,994			48,727,110			(96,033,606	)		67,771,861
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS		7,676,057			(1,723,308	)		-			-			5,952,749
CASH AND CASH EQUIVALENTS
BEGINNING OF THE YEAR		25,035,579			2,461,465			-			-			27,497,044
END OF THE YEAR	$	32,711,636		$	738,157		$	-		$	-		$	33,449,793

Concentrations

Concentrations	12 Months Ended
	Dec. 31, 2014
Concentration [Abstract]
Concentration	( 16 ) Concentration
	GWG purchases life insurance policies written by life insurance companies having investment grade ratings by independent rating agencies. As a result there may be certain concentrations of contracts with life insurance companies. The following summarizes the face value of insurance contracts with specific life insurance companies exceeding 10% of the total face value held by the Company.
		As of December 31,
	Life insurance company	2014			2013
	AXA Equitable		14.55	%		16.58	%
	John Hancock		11.48	%		11.34	%
	The following summarizes the number of insurance contracts held in specific states exceeding 10% of the total face value held by the Company:
		As of December 31,
	State of residence	2014			2013
	California		28.87	%		28.14	%
	Florida		18.56	%		15.59	%
	New York		*			10.65	%
	* percentage does not exceed 10% of the total face value.

Subsequent_events

Subsequent events	12 Months Ended
	Dec. 31, 2014
Subsequent events [Abstract]
Subsequent events	( 17 ) Subsequent events
	Subsequent to December 31, 2014, four policies covering three individuals have matured. The combined insurance benefits of these three policies were $21,125,000. The Company recorded realized gains of $18,194,000 on four policies.
	Effective January 9, 2015, GWG launched a $1 billion follow-on to our publicly registered L Bond offering. GWG is offering L Bonds on a continuous basis and there is no minimum amount of L Bonds that must be sold before GWG can use proceeds from the sale of L Bonds. GWG plans to use the net proceeds from the offering of the L Bonds primarily to purchase and finance additional life insurance assets, and to service and retire other outstanding debt obligations. Emerson Equity LLC is serving as the managing broker-dealer for the offering, which is being sold through a network of participating dealers and licensed financial advisors and representatives in minimum increments of $25,000.
	Subsequent to December 31, 2014, the Company has issued approximately an additional $19,051,000 in principal amount of L Bonds.

Nature_of_Business_and_Summary1

Nature of Business and Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2014
Nature of Business and Summary of Significant Accounting Policies [Abstract]
Nature of business	Nature of business - GWG Holdings, Inc. (GWG Holdings) and subsidiaries, located in Minneapolis, Minnesota, facilitates the purchase of life insurance policies for its own investment portfolio through its wholly owned subsidiary, GWG Life, LLC (GWG Life), and its subsidiaries, GWG Trust (Trust), GWG DLP Funding II, LLC (DLP II) and its wholly-owned subsidiary, GWG DLP Master Trust II (the Trust II). All of these entities are legally organized in Delaware. Unless the context otherwise requires or we specifically so indicate, all references in this report to "we", "us", "our", "our Company", "GWG", or the "Company" refer to these entities collectively.
Use of estimates	Use of estimates - The preparation of consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. The Company regularly evaluates estimates and assumptions. The Company bases its estimates and assumptions on current facts, historical experience, and various other factors that it believes to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities and the accrual of costs and expenses that are not readily apparent from other sources. The actual results experienced by the Company may differ materially and adversely from the Company’s estimates. To the extent there are material differences between the estimates and the actual results, future results of operations will be affected. The most significant estimates with regard to these consolidated financial statements relates to (1) the determination of the assumptions used in estimating the fair value of the investment in life insurance policies, and (2) the value of deferred tax assets and liabilities.
Cash and cash equivalents	Cash and cash equivalents - The Company considers cash in demand deposit accounts and temporary investments purchased with an original maturity of three months or less to be cash equivalents. The Company maintains its cash and cash equivalents with highly rated financial institutions. From time to time, the Company’s balances in its bank accounts exceed Federal Deposit Insurance Corporation limits. The Company periodically evaluates the risk of exceeding insured levels and may transfer funds as it deems appropriate. The Company has not experienced any losses with regards to balances in excess of insured limits or as a result of other concentrations of credit risk.
Life settlements	Life settlements - ASC 325-30, Investments in Insurance Contracts, allows a reporting entity the election to account for its investments in life settlements using either the investment method or the fair value method. The election shall be made on an instrument-by-instrument basis and is irrevocable. Under the investment method, an investor shall recognize the initial investment at the purchase price plus all initial direct costs. Continuing costs (policy premiums and direct external costs, if any) to keep the policy in force shall be capitalized. Under the fair value method, an investor shall recognize the initial investment at the purchase price. In subsequent periods, the investor shall re- measure the investment at fair value in its entirety at each reporting period and shall recognize the change in fair value in current period income net of premiums paid. The Company uses the fair value method to account for all life settlements.
	The Company recognizes realized gains (revenue) from life settlement contracts upon one of the two following events:
	1) Receipt of mortality notice or verified obituary of insured; or
	2) Sale of policy and filing of change of ownership forms and receipt of payment
	The Company recognizes the difference between the face value of the insurance benefits and carrying values of the policy when an insured event has occurred and the Company determines that settlement and ultimate collection of the face value of the insurance benefits is realizable and reasonably assured. Revenue from a transaction must meet both criteria in order to be recognized. In an event of a sale of a policy the Company recognizes gain or loss as the difference between the sale price and the carrying value of the policy on the date of the receipt of payment on such sale.
	Deposits and initial direct costs advanced on unsettled policy acquisitions are recorded as other assets until policy ownership has been transferred to the Company. Such deposits and direct cost advances were $27,000 and $201,000 at December 31, 2014 and 2013, respectively.
Deferred financing and issuance costs	Deferred financing and issuance costs – Costs incurred to obtain financing under the revolving credit facility, as described in note 5, have been capitalized and are amortized using the straight-line method over the term of the revolving credit facility. Amortization of deferred financing costs was $358,000 and $455,000 for the years ended December 31, 2014 and 2013, respectively. As of December 31, 2014 those costs have been fully amortized. The Series I Secured Notes payable, as described in note 6, are reported net of issuance costs, sales commissions and other direct expenses, which are amortized using the interest method over the term of each respective borrowing. The L Bonds, as described in note 7, are reported net of issuance costs, sales commissions and other direct expenses, which are amortized using the interest method over the term of each respective borrowing. The Series A Preferred Stock, as described in note 8, is reported net of issuance costs, sales commissions, including the fair value of warrants issued, and other direct expenses, which are amortized using the interest method as interest expense over the three-year redemption period.
Earnings (loss) per share	Earnings (loss) per share - Basic per share earnings (loss) attributable to non-redeemable interests is calculated using the weighted-average number of shares outstanding during the period. Diluted earnings per share is calculated based on the potential dilutive impact, if any, of the Company’s convertible preferred stock, and outstanding warrants, and stock options. Due to the net loss reported for the years ended December 31, 2014 and 2013, all preferred stock, stock options and warrants are anti-dilutive.
Subsequent events	Subsequent events - Subsequent events are events or transactions that occur after the balance sheet date but before consolidated financial statements are issued. The Company recognizes in the consolidated financial statements the effects of all subsequent events that provide additional evidence about conditions that existed at the date of the balance sheet, including the estimates inherent in the process of preparing the consolidated financial statements. The Company’s consolidated financial statements do not recognize subsequent events that provide evidence about conditions that did not exist at the date of the balance sheet but arose after the balance sheet date and before the consolidated financial statements are available to be issued. The Company evaluates subsequent events and transactions that occur after the balance sheet date up to the date that the consolidated financial statements are filed for potential recognition or disclosure.
Recently adopted pronouncements	Recently adopted pronouncements - Pronouncements issued by the FASB or other authoritative accounting standards groups with future effective dates are either not applicable or are not expected to be significant to the Company.

Investment_in_Life_Insurance_P1

Investment in Life Insurance Policies (Tables)	12 Months Ended
	Dec. 31, 2014
Investment in Life Insurance Policies [Abstract]
Summary of life insurance policies, under the fair value method and estimated maturity dates, based on remaining life expectancy		As of December 31, 2014								As of December 31, 2013
	Years Ending December 31,	Number of Contracts			Estimated Fair Value			Face Value		Number of Contracts		Estimated Fair Value		Face Value
	2015		3		$	5,063,000		$	6,000,000		4	$	5,065,000	$	6,750,000
	2016		7			8,144,000			11,550,000		8		8,174,000		13,750,000
	2017		17			21,916,000			35,542,000		25		33,345,000		63,916,000
	2018		30			41,994,000			76,206,000		33		37,243,000		80,318,000
	2019		45			47,303,000			106,973,000		34		32,844,000		89,295,000
	2020		41			43,429,000			102,614,000		34		27,741,000		75,644,000
	2021		36			29,789,000			90,921,000		33		29,041,000		111,770,000
	Thereafter		112			85,245,000			349,293,000		92		61,220,000		299,205,000
	Totals		291		$	282,883,000		$	779,099,000		263	$	234,673,000	$	740,648,000
Reconciliation of gain on life settlements		Years Ended December 31,
		2014			2013
	Change in fair value	$	39,928,000		$	39,338,000
	Premiums and other annual fees		(23,376,000	)		(21,860,000	)
	Policy maturities		13,864,000			12,036,000
	Gain on life settlements, net	$	30,416,000		$	29,514,000
Estimated expected premium payments to maintain the above life insurance policies assuming no mortalities	Years Ending December 31,
	2015	$	26,349,000
	2016		28,857,000
	2017		32,365,000
	2018		35,341,000
	2019		39,423,000
		$	162,335,000

Fair_Value_Definition_and_Hier1

Fair Value Definition and Hierarchy (Tables)	12 Months Ended
	Dec. 31, 2014
Fair Value Definition and Hierarchy [Abstract]
Reconciliation of investments in life insurance policies
		Years Ended December 31,
		2014			2013
	Beginning balance	$	234,673,000		$	164,317,000
	Purchases		12,468,000			35,582,000
	Maturities (cash in excess of carrying value)		(4,186,000	)		(4,564,000	)
	Net change in fair value		39,928,000			39,338,000
	Ending balance	$	282,883,000		$	234,673,000
Summary of inputs utilized in estimating the fair value
		As of			As of
		December 31,			December 31,
		2014			2013
	Weighted average age of insured		82.8			82.1
	Weighted average life expectancy, months*		78.4			87
	Average face amount per policy	$	2,677,000		$	2,816,000
	Discount rate		11.43	%		11.69	%
	* Standard life expectancy as adjusted for insured’s specific circumstances.
Fair value sensitivity analysis on the investment in life insurance policies
		Changes in fair value of life insurance policies
	Change in life expectancy estimates	plus			minus			plus			minus
		8 months			8 months			4 months			4 months
	31-Dec-14	$	(38,864,000	)	$	40,634,000		$	(19,664,000	)	$	20,130,000
	31-Dec-13	$	(34,382,000	)	$	36,152,000		$	(17,417,000	)	$	17,865,000
	Change in discount rate	plus 2%			minus 2%			plus 1%			minus 1%
	31-Dec-14	$	(24,085,000	)	$	28,179,000		$	(12,502,000	)	$	13,522,000
	31-Dec-13	$	(22,944,000	)	$	27,063,000		$	(11,933,000	)	$	12,959,000
Warrants Level 3 instruments and measured at fair value upon issuance	Month issued	Warrants			Fair value			Risk			Volatility			Term
		Issued			per share			free rate
	Dec-11		68,937		$	0.22			0.42	%		25.25	%	5 years
	Mar-12		38,130		$	0.52			0.38	%		36.2	%	5 years
	Jun-12		161,840		$	1.16			0.41	%		47.36	%	5 years
	Jul-12		144,547		$	1.16			0.41	%		47.36	%	5 years
	Sep-12		2,500		$	0.72			0.31	%		40.49	%	5 years
	Sep-14		16,000		$	1.26			1.85	%		17.03	%	5 years
			431,954

Series_I_Secured_Notes_Payable1

Series I Secured Notes Payable (Tables)	12 Months Ended
	Dec. 31, 2014
Credit facilities and Series I Secured Notes Payable and Renewable Secured Debentures (subsequently renamed L Bonds) [Abstract]
Future contractual maturities of series I secured notes payable
	Years Ending December 31,	Contractual Maturities		Amortization of Deferred Financing Costs
	2015	$	13,887,000	$	92,000
	2016		8,242,000		161,000
	2017		4,713,000		134,000
	2018		754,000		30,000
	2019		347,000		8,000
	Thereafter		104,000		5,000
		$	28,047,000	$	430,000

Renewable_Secured_Debentures_S1

Renewable Secured Debentures (Subsequently Renamed L Bonds) (Tables)	12 Months Ended
	Dec. 31, 2014
Credit facilities and Series I Secured Notes Payable and Renewable Secured Debentures (subsequently renamed L Bonds) [Abstract]
Schedule of future contractual maturities of L Bonds
	Years Ending December 31,	Contractual Maturities		Amortization of Deferred Financing Costs
	2015	$	63,375,000	$	871,000
	2016		50,270,000		1,578,000
	2017		29,546,000		1,253,000
	2018		13,551,000		668,000
	2019		14,262,000		670,000
	Thereafter		15,373,000		842,000
		$	186,377,000	$	5,882,000

Income_Taxes_Tables

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2014
Income Taxes [Abstract]
Components of deferred income tax expense	Income tax provision (benefit):	2014			2013
	Deferred:
	Federal	$	(1,820,000	)	$	1,826,000
	State		(582,000	)		348,000
	Total income tax expense (benefit)	$	(2,402,000	)	$	2,174,000
Reconciliation of income tax expense (benefit) at the statutory federal tax rate to actual income tax expense (benefit)		2014						2013
	Statutory federal income tax	$	(2,844,000	)		(34.0	)%	$	673,000	34	%
	State income taxes, net of federal benefit		(374,000	)		(4.5	)%		298,000	15.1	%
	Series A Preferred Stock dividends		826,000			9.9	%		860,000	43.4	%
	Other permanent differences		(10,000	)		(0.1	)%		343,000	17.3	%
	Total income tax expense (benefit)	$	(2,402,000	)		(28.7	)%	$	2,174,000	109.8	%
Summary of tax effects of temporary differences that give rise to deferred income taxes		2014			2013
	Deferred tax assets :
	Note receivable from related party	$	2,023,000		$	2,023,000
	Net operating loss carryforwards		4,517,000			2,596,000
	Other assets		272,000			164,000
	Subtotal		6,812,000			4,783,000
	Valuation allowance		(2,164,000	)		(2,164,000	)
	Net deferred tax asset		4,648,000			2,619,000
	Deferred tax liabilities:
	Investment in life settlements		(9,922,000	)		(10,294,000	)
	Net deferred tax assets	$	(5,274,000	)	$	(7,675,000	)

Stock_Incentive_Plan_Tables

Stock Incentive Plan (Tables)	12 Months Ended
	Dec. 31, 2014
Stock Incentive Plan [Abstract]
Schedule of outstanding stock options		Vested			Un-vested			Total
	Balance as of December 31, 2013		195,000			210,250			405,250
	Granted during the year		64,450			565,901			630,351
	Vested during the year		72,089			(72,089	)		-
	Exercised during the year		(334	)		-			(334	)
	Forfeited during the year		(16,917	)		(18,249	)		(35,166	)
	Expired during the year		-			-			-
	Balance as of December 31, 2014		314,288			685,813			1,000,101

Net_loss_per_common_share_Tabl

Net loss per common share (Tables)	12 Months Ended
	Dec. 31, 2014
Net loss per common share [Abstract]
Summary of fully diluted net loss per common share calculation	As of December 31,	2014			2013
	NET LOSS		(5,962,909	)		(194,955	)
	(Loss) attributable to preferred shareholders		(138,374	)		(806,624	)
	LOSS ATTRIBUTABLE TO COMMON SHAREHOLDERS	$	(6,101,283	)	$	(1,001,579	)
	Basic and diluted weighted average shares outstanding		4,909,657			4,758,699
	NET LOSS PER COMMON SHARE (BASIC AND DILUTED)
	Net loss	$	(1.21	)	$	(0.04	)
	(Loss) attributable to preferred shareholders	$	(0.03	)	$	(0.17	)
	Net loss attributable to common shareholders	$	(1.24	)	$	(0.21	)

Guarantees_of_L_Bonds_Tables

Guarantees of L Bonds (Tables)	12 Months Ended
	Dec. 31, 2014
Guarantees of L Bonds [Abstract]
Condensed Consolidating Balance Sheets					Guarantor			Non-Guarantor
	31-Dec-14	Parent			Subsidiary			Subsidiaries			Eliminations			Consolidated
	A S S E T S
	Cash and cash equivalents	$	30,446,473		$	216,231		$	-		$	-		$	30,662,704
	Restricted cash		-			82,500			4,213,553			-			4,296,053
	Investment in life settlements, at fair value		-			-			282,883,010			-			282,883,010
	Deferred financing costs, net		569,400			1,000,000			-			-			1,569,400
	Other assets		1,104,328			777,534			1,777,500			-			3,659,362
	Investment in subsidiaries		185,636,417			215,124,779			-			(400,761,196	)		-
	TOTAL ASSETS	$	217,756,618		$	217,201,044		$	288,874,063		$	(400,761,196	)	$	323,070,529
	L I A B I L I T I E S & S T O C K H O L D E R S' E Q U I T Y (D E F I C I T)
	LIABILITIES
	Revolving credit facility	$	-		$	-		$	72,161,048		$	-		$	72,161,048
	Series I Secured Notes payable		-			27,616,578			-			-			27,616,578
	L Bonds		182,782,884			-			-			-			182,782,884
	Accounts payable		410,895			242,680			550,000			-			1,203,575
	Interest payable		6,598,250			3,513,615			1,016,654			-			11,128,519
	Other accrued expenses		301,098			191,753			21,583			-			514,434
	Deferred taxes		5,273,555			-			-			-			5,273,555
	TOTAL LIABILITIES		195,366,682			31,564,626			73,749,285			-			300,680,593
	STOCKHOLDERS’ EQUITY (DEFICIT)
	Member capital		-			185,636,418			215,124,778			(400,761,196	)		-
	Convertible preferred stock		20,527,866			-			-			-			20,527,866
	Common stock		5,870			-			-			-			5,870
	Additional paid-in capital		16,257,686			-			-			-			16,257,686
	Accumulated deficit		(14,401,486	)		-			-			-			(14,401,486	)
	TOTAL STOCKHOLDERS’ EQUITY (DEFICIT)		22,389,936			185,636,418			215,124,778			(400,761,196	)		22,389,936
	TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY (DEFICIT)	$	217,756,618		$	217,201,044		$	288,874,063		$	(400,761,196	)	$	323,070,529
					Guarantor			Non-Guarantor
	31-Dec-13	Parent			Subsidiary			Subsidiaries			Eliminations			Consolidated
	A S S E T S
	Cash and cash equivalents	$	32,711,636		$	738,157		$	-		$	-		$	33,449,793
	Restricted cash		-			1,420,000			4,412,970			-			5,832,970
	Investment in life settlements, at fair value		-			-			234,672,794			-			234,672,794
	Deferred financing costs, net		-			-			357,901			-			357,901
	Other assets		381,883			484,510			200,625			-			1,067,018
	Investment in subsidiaries		129,839,241			159,798,490			-			(289,637,731	)		-
	TOTAL ASSETS	$	162,932,760		$	162,441,157		$	239,644,290		$	(289,637,731	)	$	275,380,476
	L I A B I L I T I E S & S T O C K H O L D E R S' E Q U I T Y (D E F I C I T)
	LIABILITIES
	Revolving credit facility	$	-		$	-		$	79,000,000		$	-		$	79,000,000
	Series I Secured Notes payable		-			29,275,202			-			-			29,275,202
	L Bonds		131,646,062			-			-			-			131,646,062
	Accounts payable		233,214			106,655			500,000			-			839,869
	Interest payable		3,806,820			3,065,465			337,123			-			7,209,408
	Other accrued expenses		340,812			154,594			8,677			-			504,083
	Deferred taxes		7,675,174			-			-			-			7,675,174
	TOTAL LIABILITIES		143,702,082			32,601,916			79,845,800			-			256,149,798
	CONVERTIBLE, REDEEMABLE PREFERRED STOCK		24,722,693			-			-			-			24,722,693
	STOCKHOLDERS’ EQUITY (DEFICIT)
	Member capital		-			129,839,241			159,798,490			(289,637,731	)		-
	Common stock		4,562			-			-			-			4,562
	Additional paid-in capital		2,942,000			-			-			-			2,942,000
	Accumulated deficit		(8,438,577	)		-			-			-			(8,438,577	)
	TOTAL STOCKHOLDERS’ EQUITY (DEFICIT)		(5,492,015	)		129,839,241			159,798,490			(289,637,731	)		(5,492,015	)
	TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY (DEFICIT)	$	162,932,760		$	162,441,157		$	239,644,290		$	(289,637,731	)	$	275,380,476
Condensed Consolidating Statements of Operations	For the year ended December 31, 2014	Parent			Guarantor Subsidiary			Non-Guarantor Subsidiaries			Eliminations			Consolidated
	REVENUE
	Contract servicing fees	$	-		$	1,615,674		$	-		$	(1,615,674	)	$	-
	Gain on life settlements, net		-			-			30,416,127			-			30,416,127
	Interest and other income		24,037			231,034			33,469			(228,092	)		60,448
	TOTAL REVENUE		24,307			1,846,708			30,449,596			(1,843,766	)		30,476,575
	EXPENSES
	Origination and servicing fees		-			-			1,615,674			(1,615,674	)		-
	Interest expense		18,248,599			3,110,165			5,358,034			-			26,716,798
	Employee compensation and benefits		3,018,570			1,951,066			-			-			4,969,636
	Legal and professional fees		2,021,763			307,386			10,086			-			2,339,235
	Other expenses		2,832,867			1,929,557			281,102			(228,092	)		4,815,434
	TOTAL EXPENSES		26,121,799			7,298,174			7,264,896			(1,843,766	)		38,841,103
	INCOME (LOSS) BEFORE EQUITY IN INCOME OF SUBSIDIARIES		(26,097,762	)		(5,451,466	)		23,184,700			-			(8,364,528	)
	EQUITY IN INCOME OF SUBSIDIARIES		17,733,234			23,184,700			-			(40,917,934	)		-
	NET INCOME BEFORE INCOME TAXES		8,364,528			17,733,234			23,184,700			(40,917,934	)		(8,364,528	)
	INCOME TAX BENEFIT		(2,401,619	)		-			-			-			(2,401,619	)
	NET INCOME (LOSS)		(5,962,909	)		17,733,234			23,184,700			(40,917,934	)		(5,962,909	)
	(Loss) attributable to preferred shareholders		(138,374	)		-			-			-			(138,374	)
	LOSS ATTRIBUTABLE TO COMMON SHAREHOLDERS	$	(6,101,283	)	$	-		$	-		$	-		$	(6,101,283	)
	For the year ended December 31, 2013	Parent			Guarantor Subsidiary			Non-Guarantor Subsidiaries			Eliminations			Consolidated
	REVENUE
	Contract servicing fees	$	-		$	3,710,737		$	-		$	(3,710,737	)	$	-
	Gain on life settlements, net		-			-			29,513,642			-			29,513,642
	Interest and other income		3,334,331			2,612,420			79,767			(2,475,386	)		3,551,132
	TOTAL REVENUE		3,334,331			6,323,157			29,593,409			(6,186,123	)		33,064,774
	EXPENSES
	Origination and servicing fees		-			-			3,710,737			(3,710,737	)		-
	Interest expense		11,800,718			3,684,811			5,277,115			-			20,762,644
	Employee compensation and benefits		3,424,383			1,619,465			-			-			5,043,848
	Legal and professional fees		1,206,520			514,728			32,961			-			1,754,209
	Other expenses		2,004,636			1,463,084			2,532,927			(2,475,386	)		3,525,261
	TOTAL EXPENSES		18,436,257			7,282,088			11,553,740			(6,186,123	)		31,085,962
	INCOME (LOSS) BEFORE EQUITY IN INCOME OF SUBSIDIARIES		(15,101,926	)		(958,931	)		18,039,669			-			1,978,812
	EQUITY IN INCOME OF SUBSIDIARIES		17,080,738			18,088,189			-			(35,168,927	)		-
	NET INCOME BEFORE INCOME TAXES		1,978,812			17,129,258			18,039,669			(35,168,927	)		1,978,812
	INCOME TAX EXPENSE		2,173,767			-			-			-			2,173,767
	NET INCOME (LOSS)		(194,955	)		17,129,258			18,039,669			(35,168,927	)		(194,955	)
	Accretion of preferred stock to liquidation value		(806,624	)		-			-			-			(806,624	)
	LOSS ATTRIBUTABLE TO COMMON SHAREHOLDERS	$	(1,001,579	)	$	-		$	-		$	-		$	(1,001,579	)
Condensed Consolidating Statements of Cash Flows
	Consolidated Statements of Cash Flows
	For the year ended December 31, 2014	Parent			Guarantor Subsidiary			Non-Guarantor Subsidiaries			Eliminations			Consolidated
	CASH FLOWS FROM OPERATING ACTIVITIES
	Net income (loss)	$	(5,962,909	)	$	17,733,234		$	23,184,700		$	(40,917,934	)	$	(5,962,909	)
	Adjustments to reconcile net income (loss) to cash flows from operating activities:
	Equity of subsidiaries		(17,733,234	)		(23,184,700	)		-			40,917,934			-
	Gain on life settlements		-			-			(39,928,003	)		-			(39,928,003	)
	Amortization of deferred financing and issuance costs		2,967,617			479,278			357,900			-			3,804,795
	Deferred income taxes		(2,401,619	)		-			-			-			(2,401,619	)
	Preferred stock issued for dividends		774,085			-			-			-			774,085
	Convertible, redeemable preferred stock dividends payable		(116,207	)		-			-			-			(116,207	)
	(Increase) decrease in operating assets:
	Due from related parties		-			(291	)		-			-			(291	)
	Insurance benefits receivable		-			-			(1,750,000	)		-			(1,750,000	)
	Other assets		(39,118,259	)		(33,434,321	)		-			70,205,530			(2,347,050	)
	Increase (decrease) in operating liabilities:
	Accounts payable		177,681			136,025			50,000			-			363,706
	Interest payable		3,359,926			599,419			679,531			-			4,638,876
	Other accrued expenses		430,601			16,367			10,408			-			457,376
	NET CASH FLOWS USED IN OPERATING ACTIVITIES		(57,622,318	)		(37,654,989	)		(17,395,464	)		70,205,530			(42,467,241	)
	CASH FLOWS FROM INVESTING ACTIVITIES
	Investment in life settlements		-			-			(12,292,401	)		-			(12,292,401	)
	Proceeds from settlement of life settlements		-			-			4,185,813			-			4,185,813
	NET CASH FLOWS USED IN INVESTING ACTIVITIES		-			-			(8,106,588	)		-			(8,106,588	)
	CASH FLOWS FROM FINANCING ACTIVITIES
	Net proceeds from revolving credit facility		-			-			(6,838,952	)		-			(6,838,952	)
	Payments for redemption of Series I Secured Notes payable		-			(2,268,379	)		-			-			(2,268,379	)
	Proceeds from issuance of debentures		65,713,297			-			-			-			65,713,297
	Payments for issuance of debentures		(4,104,876	)		-			-			-			(4,104,876	)
	Payments for redemption of debentures		(14,429,017	)		-			-			-			(14,429,017	)
	Proceeds (payments) from restricted cash		-			1,337,500			199,416			-			1,536,916
	Issuance of common stock		8,642,990			-			-			-			8,642,990
	Issuance of member capital		-			38,063,942			32,141,588			(70,205,530	)		-
	Payments for redemption of preferred stock		(456,239	)		-			-			-			(465,239	)
	NET CASH FLOWS PROVIDED BY FINANCING ACTIVITIES		55,357,155			37,133,063			25,502,052			(70,205,530	)		47,786,740
	NET DECREASE IN CASH AND CASH EQUIVALENTS		(2,265,163	)		(521,926	)		-			-			(2,787,089	)
	CASH AND CASH EQUIVALENTS
	BEGINNING OF THE YEAR		32,711,636			738,157			-			-			33,449,793
	END OF THE YEAR	$	30,446,473		$	216,231		$	-		$	-		$	30,662,704
	For the year ended December 31, 2013	Parent			Guarantor Subsidiary			Non-Guarantor Subsidiaries			Eliminations			Consolidated
	CASH FLOWS FROM OPERATING ACTIVITIES
	Net income (loss)	$	(194,955	)	$	17,129,258		$	18,039,669		$	(35,168,927	)	$	(194,955	)
	Adjustments to reconcile net income (loss) to cash flows from operating activities:
	Equity of subsidiaries		(17,080,738	)		(18,088,189	)		-			35,168,927			-
	Gain on life settlements		-			-			(39,337,542	)		-			(39,337,542	)
	Amortization of deferred financing and issuance costs		1,908,248			823,004			(260,861	)		-			2,470,391
	Deferred income taxes		2,173,767			-			-			-			2,173,767
	Preferred stock issued for dividends		623,899			-			-			-			623,899
	Convertible, redeemable preferred stock dividends payable		255			-			-			-			255
	Repurchase of common stock		(3,252,400	)											(3,252,400	)
	(Increase) decrease in operating assets:
	Due from related parties		-			8,613			-			-			8,613
	Insurance benefits receivable		-			-			2,850,000			-			2,850,000
	Other assets		(51,522,808	)		(45,077,218	)		-			96,033,606			(566,420	)
	Increase (decrease) in operating liabilities:
	Accounts payable		160,130			1,680			208,000			-			369,810
	Interest payable		2,399,975			809,540			208,918			-			3,418,433
	Other accrued expenses		277,321			(224,990	)		(1,690	)		-			50,641
	NET CASH FLOWS USED IN OPERATING ACTIVITIES		(64,507,306	)		(44,618,302	)		(18,293,506	)		96,033,606			(31,385,508	)
	CASH FLOWS FROM INVESTING ACTIVITIES
	Investment in life settlements		-			-			(34,997,500	)		-			(34,997,500	)
	Proceeds from settlement of life settlements		-			-			4,563,896			-			4,563,896
	NET CASH FLOWS USED IN INVESTING ACTIVITIES		-			-			(30,433,604	)		-			(30,433,604	)
CASH FLOWS FROM FINANCING ACTIVITIES
Net proceeds from revolving credit facility		-			-			8,000,000			-			8,000,000
Payments for redemption of Series I Secured Notes payable		-			(8,671,624	)		-			-			(8,671,624	)
Proceeds from issuance of debentures		85,260,976			-			-			-			85,260,976
Payments for issuance of debentures		(4,320,542	)		-			-			-			(4,320,542	)
Payments for redemption of debentures		(8,143,363	)		-			-			-			(8,143,363	)
Proceeds (payments) from restricted cash		-			328,700			(4,068,578	)		-			(3,739,878	)
Issuance of member capital		-			51,237,918			44,795,688			(96,033,606	)		-
Payments for redemption of preferred stock		(613,708	)		-			-			-			(613,708	)
NET CASH FLOWS PROVIDED BY FINANCING ACTIVITIES		72,183,363			42,894,994			48,727,110			(96,033,606	)		67,771,861
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS		7,676,057			(1,723,308	)		-			-			5,952,749
CASH AND CASH EQUIVALENTS
BEGINNING OF THE YEAR		25,035,579			2,461,465			-			-			27,497,044
END OF THE YEAR	$	32,711,636		$	738,157		$	-		$	-		$	33,449,793

Concentrations_Tables

Concentrations (Tables)	12 Months Ended
	Dec. 31, 2014
Concentration [Abstract]
Summary of the face value of insurance contracts		As of December 31,
	Life insurance company	2014			2013
	AXA Equitable		14.55	%		16.58	%
	John Hancock		11.48	%		11.34	%
Summary of the number of insurance contracts		As of December 31,
	State of residence	2014			2013
	California		28.87	%		28.14	%
	Florida		18.56	%		15.59	%
	New York		*			10.65	%
	* - percentage does not exceed 10% of the total face value.

Nature_of_Business_and_Summary2

Nature of Business and Summary of Significant Accounting Policies (Details) (USD $)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013
Nature Of Business And Summary Of Significant Accounting Policies
Deposits and direct cost advances	$27,000	$201,000
Amortization of deferred financing costs	$358,000	$455,000
Redemption period for amortization of discount related to financing cost	3 years

Restrictions_on_Cash_Details

Restrictions on Cash (Details) (USD $)	Dec. 31, 2014	Dec. 31, 2013
Restrictions on Cash (Textual)
Restricted cash	$4,296,000	$5,833,000

Investment_in_Life_Insurance_P2

Investment in Life Insurance Policies (Details) (USD $)	Dec. 31, 2014	Dec. 31, 2013
	Contract	Contract
Summary of Company's life insurance policies accounted for under fair value method and their estimated maturity dates, based on remaining life expectancy
Number of Contracts, 2015	3	4
Number of Contracts, 2016	7	8
Number of Contracts, 2017	17	25
Number of Contracts, 2018	30	33
Number of Contracts, 2019	45	34
Number of Contracts, 2020	41	34
Number of Contracts, 2021	36	33
Number of Contracts, Thereafter	112	92
Life Settlement Contracts, Number of Contracts, Total	291	263
Estimated Fair Value, 2015	$5,063,000	$5,065,000
Estimated Fair Value, 2016	8,144,000	8,174,000
Estimated Fair Value, 2017	21,916,000	33,345,000
Estimated Fair Value, 2018	41,994,000	37,243,000
Estimated Fair Value, 2019	47,303,000	32,844,000
Estimated Fair Value, 2020	43,429,000	27,741,000
Estimated Fair Value, 2021	29,789,000	29,041,000
Estimated Fair Value, Thereafter	85,245,000	61,220,000
Life Settlement Contracts, Estimated Fair Value, Total	282,883,000	234,673,000
Face Value, 2015	6,000,000	6,750,000
Face Value, 2016	11,550,000	13,750,000
Face Value, 2017	35,542,000	63,916,000
Face Value, 2018	76,206,000	80,318,000
Face Value, 2019	106,973,000	89,295,000
Face Value, 2020	102,614,000	75,644,000
Face Value, 2021	90,921,000	111,770,000
Face Value, Thereafter	349,293,000	299,205,000
Life Settlement Contracts, Face Value, Total	$779,099,000	$740,648,000

Investment_in_Life_Insurance_P3

Investment in Life Insurance Policies (Details 1) (USD $)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013
Summary of reconciliation of gain on life settlements
Change in fair value	$39,928,000	$39,338,000
Premiums and other annual fees	-23,376,000	-21,860,000
Policy maturities	13,864,000	12,036,000
Gain on life settlements, net	$30,416,000	$29,514,000

Investment_in_Life_Insurance_P4

Investment in Life Insurance Policies (Details 2) (USD $)	Dec. 31, 2014
Summary of estimated expected premium payments to maintain the above life insurance policies assuming no mortalities
2015	$26,349,000
2016	28,857,000
2017	32,365,000
2018	35,341,000
2019	39,423,000
Estimated expected premium payments	$162,335,000

Investment_in_Life_Insurance_P5

Investment in Life Insurance Policies (Details Textual) (USD $)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013
Investment in Life Insurance Policies (Textual)
Realized gains from life insurance policy	$13,864,000	$12,036,000
Insurance benefit of mature securities	21,125,000
Benefit recognized from insurance policy	18,050,000	16,600,000
Carrying value of life insurance policy	4,186,000	4,564,000
Realized gains of policies	$18,194,000

Fair_Value_Definition_and_Hier2

Fair Value Definition and Hierarchy (Details) (Life Insurance policies [Member], USD $)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013
Life Insurance policies [Member]
Summary of reconciliation of investments in life insurance policies
Beginning balance	$234,673,000	$164,317,000
Purchases	12,468,000	35,582,000
Maturities (cash in excess of carrying value)	-4,186,000	-4,564,000
Net change in fair value	39,928,000	39,338,000
Ending balance	$282,883,000	$234,673,000

Fair_Value_Definition_and_Hier3

Fair Value Definition and Hierarchy (Details 1) (Life Insurance policies [Member], USD $)	12 Months Ended
	Dec. 31, 2014		Dec. 31, 2013
Life Insurance policies [Member]
Summary of inputs utilized in estimating the fair value
Weighted average age of insured	82 years 9 months 18 days		82 years 1 month 6 days
Weighted average life expectancy, months*	78 years 4 months 24 days	[1]	87 years	[1]
Average face amount per policy	$2,677,000		$2,816,000
Discount rate	11.43%		11.69%
[1]	* Standard life expectancy as adjusted for insured's specific circumstances.

Fair_Value_Definition_and_Hier4

Fair Value Definition and Hierarchy (Details 2) (USD $)	Dec. 31, 2014	Dec. 31, 2013
Plus 8 months [Member]
Fair value sensitivity analysis on the investment in life insurance policies
Investment in life policies	($38,864,000)	($34,382,000)
Minus 8 months [Member]
Fair value sensitivity analysis on the investment in life insurance policies
Investment in life policies	40,634,000	36,152,000
Plus 4 Months [Member]
Fair value sensitivity analysis on the investment in life insurance policies
Investment in life policies	-19,664,000	-17,417,000
Minus 4 Months [Member]
Fair value sensitivity analysis on the investment in life insurance policies
Investment in life policies	20,130,000	17,865,000
Plus 2% [Member]
Fair value sensitivity analysis on the investment in life insurance policies
Investment in life policies	-24,085,000	-22,944,000
Minus 2% [Member]
Fair value sensitivity analysis on the investment in life insurance policies
Investment in life policies	28,179,000	27,063,000
Plus 1% [Member]
Fair value sensitivity analysis on the investment in life insurance policies
Investment in life policies	-12,502,000	-11,933,000
Minus 1% [Member]
Fair value sensitivity analysis on the investment in life insurance policies
Investment in life policies	$13,522,000	$12,959,000

Fair_Value_Definition_and_Hier5

Fair Value Definition and Hierarchy (Details 3) (Level 3 [Member], USD $)	12 Months Ended
	Dec. 31, 2014
Warrants Level 3 instruments and measured at fair value upon issuance
Warrants issued	431,954
December 2011 [Member]
Warrants Level 3 instruments and measured at fair value upon issuance
Warrants issued date	31-Dec-11
Warrants issued	68,937
Fair value per share	0.22
Risk free rate	0.42%
Volatility rate	25.25%
Term	5 years
March 2012 [Member]
Warrants Level 3 instruments and measured at fair value upon issuance
Warrants issued date	31-Mar-12
Warrants issued	38,130
Fair value per share	0.52
Risk free rate	0.38%
Volatility rate	36.20%
Term	5 years
June 2012 [Member]
Warrants Level 3 instruments and measured at fair value upon issuance
Warrants issued date	30-Jun-12
Warrants issued	161,840
Fair value per share	1.16
Risk free rate	0.41%
Volatility rate	47.36%
Term	5 years
July 2012 [Member]
Warrants Level 3 instruments and measured at fair value upon issuance
Warrants issued date	31-Jul-12
Warrants issued	144,547
Fair value per share	1.16
Risk free rate	0.41%
Volatility rate	47.36%
Term	5 years
September 2012 [Member]
Warrants Level 3 instruments and measured at fair value upon issuance
Warrants issued date	30-Sep-12
Warrants issued	2,500
Fair value per share	0.72
Risk free rate	0.31%
Volatility rate	40.49%
Term	5 years
September 2014 [Member]
Warrants Level 3 instruments and measured at fair value upon issuance
Warrants issued date	30-Sep-14
Warrants issued	16,000
Fair value per share	1.26
Risk free rate	1.85%
Volatility rate	17.03%
Term	5 years

Fair_Value_Definition_and_Hier6

Fair Value Definition and Hierarchy (Details Textual) (USD $)	12 Months Ended
	Dec. 31, 2014
Fair Value Definition and Hierarchy (Textual)
Estimated fair value of Series I Secured notes payable	$216,837,000
Weighted average market interest rate of Secured notes payable	7.17%
Face value of notes	$214,421,000
Description for change in discount factor	If the life expectancy estimates were increased or decreased by four and eight months on each outstanding policy and the discount factors were increased or decreased by 1% and 2%, while all other variables are held constant.
Increase decrease in life expectancy	Four and eight months
Increase decrease in discount rate	1% and 2
IPO [Member]
Fair Value Definition and Hierarchy (Textual)
Issuance of common stock, Share	16,000

Credit_Facilities_Details

Credit Facilities (Details) (USD $)	0 Months Ended		12 Months Ended
	Jan. 29, 2013	Jul. 15, 2008	Dec. 31, 2014	Dec. 31, 2013
Credit Facilities (Textual)
Maximum borrowing amount under line of credit facility		$100,000,000
Expiry date of line of credit		15-Jul-13
Amount outstanding under line of credit facility			72,161,000	79,000,000
Effective rate of interest			6.24%	6.19%
Total funds available for additional borrowings under the borrowing base formula criteria			20,585,000	3,937,000
Extended date of line of credit facility	31-Dec-14
Weighted average effective interest rate			6.24%	6.14%
Minimum tangible net worth to be maintained by company			15,000,000
Consolidated net income under credit and security agreement			29,369,000
Consolidated tangible net worth under credit and security agreement			$87,381,000

Series_I_Secured_Notes_Payable2

Series I Secured Notes Payable (Details) (Series I Secured Notes Payable [Member], USD $)	Dec. 31, 2014
Series I Secured Notes Payable [Member]
Summary of future contractual maturities of notes payable
2015	$13,887,000
2016	8,242,000
2017	4,713,000
2018	754,000
2019	347,000
Thereafter	104,000
Total	28,047,000
Summary of amortization of deferred financing costs of notes payable
2015	92,000
2016	161,000
2017	134,000
2018	30,000
2019	8,000
Thereafter	5,000
Total	$430,000

Series_I_Secured_Notes_Payable3

Series I Secured Notes Payable (Details Textual) (USD $)	0 Months Ended	12 Months Ended
	Jun. 14, 2011	Dec. 31, 2014	Dec. 31, 2013
Series I Secured Notes Payable (Textual)
Weighted average market interest rate of Secured notes payable		7.17%
principal amount outstanding under Series I Secured notes			$131,646,062
Amortization of deferred financing and issuance costs		358,000	455,000
Series I Secured Notes Payable [Member]
Series I Secured Notes Payable (Textual)
Interest rate on secured notes, Minimum	5.65%
Interest rate on secured notes, Maximum	9.55%
Description of interest payment		Interest is payable monthly, quarterly, annually or at maturity depending on the terms of the note.
Weighted average market interest rate of Secured notes payable		8.37%	8.35%
principal amount outstanding under Series I Secured notes		28,047,000	29,744,000
Amortization of deferred financing and issuance costs		552,000	606,000
Future expected amortization of deferred financing costs		$430,000
Minimum maturity period of secured notes	6 months
Maximum maturity period of secured notes	7 years
Amortizatoin period of deferred financing cost		6 years

Renewable_Secured_Debentures_S2

Renewable Secured Debentures (Subsequently Renamed L Bonds) (Details) (Renewable Secured Debentures [Member], USD $)	Dec. 31, 2014
Renewable Secured Debentures [Member]
Summary of future contractual maturities of L Bonds
2015	$63,375,000
2016	50,270,000
2017	29,546,000
2018	13,551,000
2019	14,262,000
Thereafter	15,373,000
Total	186,377,000
Summary of amortization of deferred financing costs of L Bonds
2015	871,000
2016	1,578,000
2017	1,253,000
2018	668,000
2019	670,000
Thereafter	842,000
Total	$5,882,000

Renewable_Secured_Debentures_S3

Renewable Secured Debentures (Subsequently Renamed L Bonds) (Details Textual) (USD $)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013
Renewable Secured Debentures (Textual)
Debentures offer for sale	$214,421,000
Weighted average market interest rate of Secured notes payable	7.17%
Proceeds from Issuance of Secured Debt	65,713,297	85,260,976
Additional principal amount of L bonds	19,051,000
Renewable Secured Debentures [Member]
Renewable Secured Debentures (Textual)
Debentures offer for sale	250,000,000
Interest rates, minimum	4.25%
Interest rates, maximum	9.50%
Description of interest payment	Interest is payable monthly, annually or at maturity depending on the terms of the debenture.
Weighted average market interest rate of Secured notes payable	7.45%	7.53%
Amount outstanding under L Bonds	186,377,000	134,891,000
Amortization of deferred issuance costs	3,537,000,000	1,843,000
Future expected amortization of deferred financing costs	$5,882,000
Maturity period of debentures, Minimum	6 months
Maturity period of debentures, Maximum	7 years
Conditions for proceed from issuance of debenture	(1) payment of commissions on sales of L Bonds, (2) payment of offering expenses, (3) purchase of life insurance policies, (4) payment of premiums on life insurance policies, (5) payment of principal and interest on L Bonds, (6) payment of portfolio operations expenses, and (7) general working capital.

Convertible_Preferred_Stock_De

Convertible Preferred Stock (Details) (USD $)	12 Months Ended		0 Months Ended	1 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Sep. 02, 2012	Jul. 31, 2011
Convertible Preferred Stock (Textual)
Exercise price of warrants	$12.50
Exercise period	3 years
Maturity period of warrant	3 years
Conversion of Series A preferred stock into common stock, description	One share of common stock for every 40 shares of Series A Preferred Stock purchased.
Preferred stock redemption terms	The Company may redeem the Series A preferred shares at a price equal to 110% of their liquidation preference ($7.50 per share) at any time.
Preferred stock, liquidation preference per share	$7.50
Redemption price of preferred shares	$7.50
Series A preferred stock outstanding	2,739,000
Gross consideration from convertible preferred stock	$20,528,000
Series A preferred stock issuance costs	2,838,000
Warrant outstanding	431,954	415,955
Weighted average remaining life of warrants outstanding	2 years 5 months 5 days	1 year 4 months 2 days
Accrued preferred dividend	513,000
Payable date of accrued preferred dividends	15-Jan-15
Percentage of unredeemed shares redeemed one year after issuance	33.00%
Percentage of unredeemed shares redeemed two year after issuance	66.00%
Percentage of unredeemed shares redeemed three year after issuance	100.00%
Redeemed shares of Series A preferred stock	145,000
Minimum gross proceeds from common stock offering	5,000,000
Maximum offering price of common stock	$11
Fair value of outstanding warrants attached to Series A preferred stock	428,000
Term of redemption of warrants prior to expiration	The Company may redeem outstanding warrants prior to their expiration, at a price of $0.01 per share upon 30 days written notice to the investors at any time after (i) the Company has completed a registration of its common stock with the SEC and (ii) the volume of weighted average sale price per share of common stock equals or exceeds $14.00 per share for ten consecutive trading days ending on the third business day prior to proper notice of such redemption.
Declared and accrued dividends	2,428,000	2,528,000
Preferred stock issued in lieu of cash dividend	111,000	89,000
Cash dividend rate, per share	$7
Warrants expire date	18-Sep-19
Common Stock [Member]
Convertible Preferred Stock (Textual)
Series A Preferred Stock conversion, Shares	508,193
Payments for purchase of warrant initial public offering	16,000
Initial public offering [Member]
Convertible Preferred Stock (Textual)
Convertible preferred stock, shares issued upon conversion	677,566
Conversion of stock, shares converted into common stock	508,193
Series A 10 % convertible Preferred Stock [Member]
Convertible Preferred Stock (Textual)
Company offering shares of convertible redeemable preferred stock				3,333,333
Series A preferred stock shares sold for cash			3,278,000
Consideration received on sale of Series A preferred stock			24,582,000
Series A preferred stock shares issued in conversion of dividends	277,000
Series A preferred stock value issued in conversion of dividends	$1,936,681
Offering price of series A preferred stock	$7.50
Series A preferred stock, Dividend rate	10.00%
Conversion term for series A preferred stock	Each share has the right to convert into 0.75 shares of the Company's common stock.
Convertible preferred stock, shares issued upon conversion	678,000
Conversion of stock, shares converted into common stock	508,000

Income_Taxes_Details

Income Taxes (Details) (USD $)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013
Deferred:
Federal	($1,820,000)	$1,826,000
State	-582,000	348,000
Total income tax expense (benefit)	($2,401,619)	$2,173,767

Income_Taxes_Details_1

Income Taxes (Details 1) (USD $)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013
Summary of Reconciliation of income tax expense at the statutory federal tax rate to actual income tax expense
Statutory federal income tax	($2,844,000)	$673,000
State income taxes, net of federal benefit	-374,000	298,000
Series A Preferred Stock dividends	826,000	860,000
Other permanent differences	-10,000	343,000
Total income tax expense	($2,402,000)	$2,174,000
Statutory federal income tax, Tax rate	-34.00%	34.00%
State income taxes, net of federal benefit, Tax rate	-4.50%	15.10%
Series A Preferred Stock dividends, Tax rate	9.90%	43.40%
Other permanent differences, Tax rate	-0.10%	17.30%
Total income tax expense (benefit), Tax rate	-28.70%	109.80%

Income_Taxes_Details_2

Income Taxes (Details 2) (USD $)	Dec. 31, 2014	Dec. 31, 2013
Deferred tax assets :
Note receivable from related party	$2,023,000	$2,023,000
Net operating loss carryforwards	4,517,000	2,596,000
Other assets	272,000	164,000
Subtotal	6,812,000	4,783,000
Valuation allowance	-2,164,000	-2,164,000
Net deferred tax asset	4,648,000	2,619,000
Deferred tax liabilities:
Investment in life settlements	-9,922,000	-10,294,000
Net deferred tax assets	($5,274,000)	($7,675,000)

Income_Taxes_Detail_Textuals

Income Taxes (Detail Textuals) (USD $)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013
Income Taxes (Textual)
Federal net operating loss carryforwards	$11,163,000	$4,182,000
Operating loss carry forward expiration period	Begin to expire in 2031.
Current income taxes
Accrual of non-deductible preferred stock dividend expense	2,428,000
Valuation allowance	2,164,000	2,164,000
Accrued interest or penalties related to uncertain tax positions	0	0
State net operating loss carryforwards	$7,334,000	$2,748,000

Common_Stock_Details

Common Stock (Details) (USD $)	1 Months Ended	12 Months Ended		0 Months Ended
	Jun. 24, 2014	Dec. 31, 2014	Dec. 31, 2013	Jul. 11, 2011	Jun. 28, 2013	Sep. 24, 2014
Common Stock Disclosure [Textual]
Common stock, par value		$0.00	$0.00
Net proceeds		$8,642,990
Reverse stock split	2-for-1
Purchase and Sale Agreement [Member]
Common Stock Disclosure [Textual]
Terms for acquisition of equity interest in subsidiary				GWG issued to Athena Securities Group, Ltd. (Athena) 494,500 shares of common stock, which was equal to 9.9% of GWG's outstanding shares, in exchange for shares equal to 9.9% of the outstanding shares in Athena Structured Funds, PLC and cash of $5,000.
Athena Securities Group Ltd [Member] | Purchase and Sale Agreement [Member]
Common Stock Disclosure [Textual]
Amount of cash paid under acquisition terms				5,000
Shares of common stock issued				494,500	432,500
Retained Common Stock				62,000
GWG (Member)
Common Stock Disclosure [Textual]
Shares of common stock issued						800,000
Common stock, par value						$12.50

Stock_Incentive_Plan_Details

Stock Incentive Plan (Details)	12 Months Ended
	Dec. 31, 2014
Outstanding stock options
Beginning Balance	405,250
Granted during the year	53,000
Vested during the year
Exercised during the year	-334
Forfeited during the year	-35,166
Expired during the year
Ending Balance	991,601
Vested [Member]
Outstanding stock options
Beginning Balance	195,000
Granted during the year	64,450
Vested during the year	72,089
Exercised during the year	-334
Forfeited during the year	-16,917
Expired during the year
Ending Balance	314,288
Non-Vested [Member]
Outstanding stock options
Beginning Balance	210,250
Granted during the year	565,901
Vested during the year	-72,089
Exercised during the year
Forfeited during the year	-18,249
Expired during the year
Ending Balance	685,813

Stock_Incentive_Plan_Details_T

Stock Incentive Plan (Details Textual) (USD $)	0 Months Ended	12 Months Ended
	Mar. 27, 2013	Dec. 31, 2014
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares issued to employees, officers and directors		53,000
Number of options vested		72,089
Exercise Price		12.5
Options vesting period		3 years
Forfeited during the year		-35,166
Compensation expense related to un-vested options not yet recognized		591,000
Compensation expense related to un-vested options, period of recognition		3 years
Ownership Percentage		10.00%
Compensation Expense in 2015		221,000
Compensation Expense in 2016		212,000
Compensation Expense in 2017		158,000
Exercised during the year		-334
Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Exercise Price		9.01
Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Exercise Price		8.2
Employee Stock Option [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares issued to employees, officers and directors		517,101
Number of options vested		53,505
Forfeited during the year		-32,750
Exercised during the year
Common Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares issued to employees, officers and directors		745,601
Number of options vested		314,288
Others [Member] | Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Exercise Price		10.25
Others [Member] | Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Exercise Price		7.46
2013 Stock Incentive Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares issuable	2,000,000
Stock based compensation, Method used		The expected volatility used in the Black-Scholes model valuation of options issued during the year was 17.03% annualized. The annual volatility rate is based on the standard deviation of the average continuously compounded rate of return of five selected comparable companies over the previous 52 weeks.
Expected volatility rate		17.03%
2013 Stock Incentive Plan [Member] | Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock option period	10 years
2013 Stock Incentive Plan [Member] | Employee Stock Option [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Maximum number of shares for an employee		53,000
Employee granting right purchase of common stock		318,000
Number of options vested		159,000
Exercise Price		12.5
Options vesting period		1 year
2013 Stock Incentive Plan [Member] | Common Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Maximum number of shares for an employee	400,000
Forfeited during the year		63,166
Forfeited during the year, Percent		15.00%
Exercised during the year		334

Net_loss_per_common_share_Deta

Net loss per common share (Details) (USD $)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013
Earnings Per Share, Pro Forma [Abstract]
NET LOSS	($5,962,909)	($194,955)
(Loss) attributable to preferred shareholders	-138,374	-806,624
LOSS ATTRIBUTABE TO COMMON SHAREHOLDERS	($6,101,283)	($1,001,579)
Basic and diluted weighted average shares outstanding	4,909,657	4,758,699
NET LOSS PER COMMON SHARE (BASIC AND DILUTED)
Net loss	($1.21)	($0.04)
(Loss) attributable to preferred shareholders	($0.03)	($0.17)
Net loss attributable to common shareholders	($1.24)	($0.21)

Commitments_Details

Commitments (Details) (USD $)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013
	sqft
Commitments (Textual)
Lease expiration date	31-Aug-15
Office space in square feet	11,695
Rent expenses	$211,000	$200,000
Minimum lease payments	$70,000

Contingencies_Details

Contingencies (Details) (USD $)	12 Months Ended
	Dec. 31, 2014
Contingencies (Textual)
Loaned to Opportunity Finance, LLC	$1,000,000
Repayments of loan	$177,000

Guarantees_of_L_Bonds_Details

Guarantees of L Bonds (Details) (USD $)	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
A S S E T S
Cash and cash equivalents	$30,662,704	$33,449,793	$27,497,044
Restricted cash	4,296,053	5,832,970
Investment in life settlements, at fair value	282,883,010	234,672,794
Deferred financing costs, net	1,569,400	357,901
Other assets	1,909,362	1,067,018
Investment in subsidiaries
TOTAL ASSETS	323,070,529	275,380,476
LIABILITIES
Revolving credit facility	72,161,048	79,000,000
Series I Secured Notes payable	27,616,578	29,275,202
L Bonds	182,782,884	131,646,062
Accounts payable	1,203,575	839,869
Interest payable	11,128,519	7,209,408
Other accrued expenses	514,434	504,083
Deferred taxes	5,273,555	7,675,174
TOTAL LIABILITIES	300,680,594	256,149,798
STOCKHOLDERS EQUITY (DEFICIT)
Member capital
Convertible preferred stock	20,527,866	24,722,693
Common stock	5,870	4,562
Additional paid-in capital	16,257,686	2,942,000
Accumulated deficit	-14,401,486	-8,438,577
TOTAL STOCKHOLDERS' EQUITY (DEFICIT)	22,389,936	-5,492,015
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT)	323,070,529	275,380,476
Parent [Member]
A S S E T S
Cash and cash equivalents	30,446,473	32,711,636	25,035,579
Restricted cash
Investment in life settlements, at fair value
Deferred financing costs, net	569,400
Other assets	1,104,328	381,883
Investment in subsidiaries	185,636,417	129,839,241
TOTAL ASSETS	217,756,618	162,932,760
LIABILITIES
Series I Secured Notes payable
Accounts payable	410,895	233,214
Interest payable	6,598,250	3,806,820
Other accrued expenses	301,098	340,812
Deferred taxes	5,273,555	7,675,174
TOTAL LIABILITIES	195,366,682	143,702,082
STOCKHOLDERS EQUITY (DEFICIT)
Member capital
Convertible preferred stock	20,527,866	24,722,693
Common stock	5,870	4,562
Additional paid-in capital	16,257,686	2,942,000
Accumulated deficit	-14,401,486	-8,438,577
TOTAL STOCKHOLDERS' EQUITY (DEFICIT)	22,389,936	-5,492,015
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT)	217,756,618	162,932,760
Guarantor Subsidiary [Member]
A S S E T S
Cash and cash equivalents	216,231	738,157	2,461,465
Restricted cash	82,500	1,420,000
Investment in life settlements, at fair value
Deferred financing costs, net	1,000,000
Other assets	777,534	484,510
Investment in subsidiaries	215,124,779	159,798,490
TOTAL ASSETS	217,201,044	162,441,157
LIABILITIES
Series I Secured Notes payable	27,616,578	29,275,202
Accounts payable	242,680	106,655
Interest payable	3,513,615	3,065,465
Other accrued expenses	191,753	154,594
Deferred taxes
TOTAL LIABILITIES	31,564,626	32,601,916
STOCKHOLDERS EQUITY (DEFICIT)
Member capital	185,636,418	129,839,241
Convertible preferred stock
Common stock
Additional paid-in capital
Accumulated deficit
TOTAL STOCKHOLDERS' EQUITY (DEFICIT)	185,636,418	129,839,241
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT)	217,201,044	162,441,157
Non-Guarantor Subsidiaries [Member]
A S S E T S
Cash and cash equivalents
Restricted cash	4,213,553	4,412,970
Investment in life settlements, at fair value	282,883,010	234,672,794
Deferred financing costs, net		357,901
Other assets	1,777,500	200,625
Investment in subsidiaries
TOTAL ASSETS	288,874,063	239,644,290
LIABILITIES
Series I Secured Notes payable
Accounts payable	550,000	500,000
Interest payable	1,016,654	337,123
Other accrued expenses	21,583	8,677
Deferred taxes
TOTAL LIABILITIES	73,749,285	79,845,800
STOCKHOLDERS EQUITY (DEFICIT)
Member capital	215,124,778	159,798,490
Convertible preferred stock
Common stock
Additional paid-in capital
Accumulated deficit
TOTAL STOCKHOLDERS' EQUITY (DEFICIT)	215,124,778	159,798,490
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT)	288,874,063	239,644,290
Eliminations [Member]
A S S E T S
Cash and cash equivalents
Restricted cash
Investment in life settlements, at fair value
Other assets
Investment in subsidiaries	-400,761,196	-289,637,731
TOTAL ASSETS	-400,761,196	-289,637,731
LIABILITIES
Series I Secured Notes payable
Accounts payable
Interest payable
Other accrued expenses
Deferred taxes
TOTAL LIABILITIES
STOCKHOLDERS EQUITY (DEFICIT)
Member capital	-400,761,196	-289,637,731
Convertible preferred stock
Common stock
Additional paid-in capital
Accumulated deficit
TOTAL STOCKHOLDERS' EQUITY (DEFICIT)	-400,761,196	-289,637,731
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT)	($400,761,196)	($289,637,731)

Guarantees_of_L_Bonds_Details_

Guarantees of L Bonds (Details 1) (USD $)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013
REVENUE
Contract servicing fees
Gain on life settlements, net	30,416,127	29,513,642
Interest and other income	60,448	298,732
TOTAL REVENUE	30,476,575	33,064,774
EXPENSES
Origination and servicing fees
Interest expense	26,716,798	20,762,644
Employee compensation and benefits	4,969,636	5,043,848
Legal and professional fees	2,339,235	1,754,209
Other expenses	4,815,434	3,525,261
TOTAL EXPENSES	38,841,103	31,085,962
INCOME (LOSS) BEFORE EQUITY IN INCOME OF SUBSIDIARIES	-8,364,528	1,978,812
EQUITY IN INCOME OF SUBSIDIARIES
NET INCOME BEFORE INCOME TAXES	-8,364,528	1,978,812
INCOME TAX BENEFIT	-2,401,619	2,173,767
NET INCOME (LOSS)	-5,962,909	-194,955
(Loss) attributable to preferred shareholders	-138,374	-806,624
LOSS ATTRIBUTABE TO COMMON SHAREHOLDERS	-6,101,283	-1,001,579
Parent [Member]
REVENUE
Contract servicing fees
Gain on life settlements, net
Interest and other income	24,037	3,334,331
TOTAL REVENUE	24,307	3,334,331
EXPENSES
Origination and servicing fees
Interest expense	18,248,599	11,800,718
Employee compensation and benefits	3,018,570	3,424,383
Legal and professional fees	2,021,763	1,206,520
Other expenses	2,832,867	2,004,636
TOTAL EXPENSES	26,121,799	18,436,257
INCOME (LOSS) BEFORE EQUITY IN INCOME OF SUBSIDIARIES	-26,097,762	-15,101,926
EQUITY IN INCOME OF SUBSIDIARIES	-17,733,234	-17,080,738
NET INCOME BEFORE INCOME TAXES	8,364,528	1,978,812
INCOME TAX BENEFIT	-2,401,619	2,173,767
NET INCOME (LOSS)	-5,962,909	-194,955
(Loss) attributable to preferred shareholders	-138,374	-806,624
LOSS ATTRIBUTABE TO COMMON SHAREHOLDERS	-6,101,283	-1,001,579
Guarantor Subsidiary [Member]
REVENUE
Contract servicing fees	1,615,674	3,710,737
Gain on life settlements, net
Interest and other income	231,034	2,612,420
TOTAL REVENUE	1,846,708	6,323,157
EXPENSES
Origination and servicing fees
Interest expense	3,110,165	3,684,811
Employee compensation and benefits	1,951,066	1,619,465
Legal and professional fees	307,386	514,728
Other expenses	1,929,557	1,463,084
TOTAL EXPENSES	7,298,174	7,282,088
INCOME (LOSS) BEFORE EQUITY IN INCOME OF SUBSIDIARIES	-5,451,466	-958,931
EQUITY IN INCOME OF SUBSIDIARIES	-23,184,700	-18,088,189
NET INCOME BEFORE INCOME TAXES	17,733,234	17,129,258
INCOME TAX BENEFIT
NET INCOME (LOSS)	17,733,234	17,129,258
(Loss) attributable to preferred shareholders
LOSS ATTRIBUTABE TO COMMON SHAREHOLDERS
Non-Guarantor Subsidiaries [Member]
REVENUE
Contract servicing fees
Gain on life settlements, net	30,416,127	29,513,642
Interest and other income	33,469	79,767
TOTAL REVENUE	30,449,596	29,593,409
EXPENSES
Origination and servicing fees	1,615,674	3,710,737
Interest expense	5,358,034	5,277,115
Employee compensation and benefits
Legal and professional fees	10,086	32,961
Other expenses	281,102	2,532,927
TOTAL EXPENSES	7,264,896	11,553,740
INCOME (LOSS) BEFORE EQUITY IN INCOME OF SUBSIDIARIES	23,184,700	18,039,669
EQUITY IN INCOME OF SUBSIDIARIES
NET INCOME BEFORE INCOME TAXES	23,184,700	18,039,669
INCOME TAX BENEFIT
NET INCOME (LOSS)	23,184,700	18,039,669
(Loss) attributable to preferred shareholders
LOSS ATTRIBUTABE TO COMMON SHAREHOLDERS
Eliminations [Member]
REVENUE
Contract servicing fees	-1,615,674	-3,710,737
Gain on life settlements, net
Interest and other income	-228,092	-2,475,386
TOTAL REVENUE	-1,843,766	-6,186,123
EXPENSES
Origination and servicing fees	-1,615,674	-3,710,737
Interest expense
Employee compensation and benefits
Other expenses	-228,092	-2,475,386
TOTAL EXPENSES	-1,843,766	-6,186,123
INCOME (LOSS) BEFORE EQUITY IN INCOME OF SUBSIDIARIES
EQUITY IN INCOME OF SUBSIDIARIES	-40,917,934	-35,168,927
NET INCOME BEFORE INCOME TAXES	-40,917,934	-35,168,927
INCOME TAX BENEFIT
NET INCOME (LOSS)	-40,917,934	-35,168,927
(Loss) attributable to preferred shareholders
LOSS ATTRIBUTABE TO COMMON SHAREHOLDERS

Guarantees_of_L_Bonds_Details_1

Guarantees of L Bonds (Details 2) (USD $)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013
CASH FLOWS FROM OPERATING ACTIVITIES
NET INCOME (LOSS)	($5,962,909)	($194,955)
Adjustments to reconcile net income (loss) to cash flows from operating activities:
Equity of subsidiaries
Gain on life settlements	39,928,003	39,337,542
Amortization of deferred financing and issuance costs	3,804,795	2,470,390
Deferred income taxes	-2,401,619	2,173,767
Preferred stock issued for dividends	774,085	623,899
Convertible, redeemable preferred stock issued in lieu of cash dividends	-116,207	255
Repurchase of common stock	-8,642,990
(Increase) decrease in operating assets:
Due from related parties	291	-8,613
Insurance benefits receivable	-1,750,000	2,850,000
Other assets	-2,347,050	-566,418
Increase in operating liabilities:
Accounts payable	363,706	369,810
Interest payable	4,638,876	3,418,432
Other accrued expenses	457,376	50,642
NET CASH FLOWS USED IN OPERATING ACTIVITIES	-42,467,241	-31,385,508
CASH FLOWS FROM INVESTING ACTIVITIES
Investment in life settlements	-12,292,401	-34,997,500
Proceeds from settlement of life settlements	4,185,813	4,563,896
NET CASH FLOWS USED IN INVESTING ACTIVITIES	-8,106,588	-30,433,604
CASH FLOWS FROM FINANCING ACTIVITIES
Net proceeds from revolving credit facility	-6,838,952	8,000,000
Payments for redemption of Series I Secured Notes payable	-2,268,379	-8,671,624
Proceeds from issuance of debentures	65,713,297	85,260,976
Payments for issuance of debentures	4,104,876	4,320,542
Payments for redemption of debentures	-14,429,017	-8,143,363
Proceeds from (uses of) restricted cash	1,536,916	-3,739,878
Issuance of common stock	-8,642,990
Issuance of member capital
Payments for redemption of preferred stock	-465,239	-613,708
NET CASH FLOWS PROVIDED BY FINANCING ACTIVITIES	47,786,740	67,771,861
NET DECREASE IN CASH AND CASH EQUIVALENTS	-2,787,089	5,952,749
CASH AND CASH EQUIVALENTS
BEGINNING OF PERIOD	33,449,793	27,497,044
END OF PERIOD	30,662,704	33,449,793
Parent [Member]
CASH FLOWS FROM OPERATING ACTIVITIES
NET INCOME (LOSS)	-5,962,909	-194,955
Adjustments to reconcile net income (loss) to cash flows from operating activities:
Equity of subsidiaries	-17,733,234	-17,080,738
Gain on life settlements
Amortization of deferred financing and issuance costs	2,967,617	1,908,248
Deferred income taxes	-2,401,619	2,173,767
Preferred stock issued for dividends	774,085	623,899
Convertible, redeemable preferred stock issued in lieu of cash dividends	-116,207	255
Repurchase of common stock		-3,252,400
(Increase) decrease in operating assets:
Due from related parties
Insurance benefits receivable
Other assets	-39,118,259	-51,522,808
Increase in operating liabilities:
Accounts payable	177,681	160,130
Interest payable	3,359,926	2,399,975
Other accrued expenses	430,601	277,321
NET CASH FLOWS USED IN OPERATING ACTIVITIES	-57,622,318	-64,507,306
CASH FLOWS FROM INVESTING ACTIVITIES
Investment in life settlements
Proceeds from settlement of life settlements
NET CASH FLOWS USED IN INVESTING ACTIVITIES
CASH FLOWS FROM FINANCING ACTIVITIES
Net proceeds from revolving credit facility
Payments for redemption of Series I Secured Notes payable
Proceeds from issuance of debentures	65,713,297	85,260,976
Payments for issuance of debentures	-4,104,876	-4,320,542
Payments for redemption of debentures	-14,429,017	-8,143,363
Proceeds from (uses of) restricted cash
Issuance of common stock	-8,642,990
Issuance of member capital
Payments for redemption of preferred stock	-456,239	-613,708
NET CASH FLOWS PROVIDED BY FINANCING ACTIVITIES	55,357,155	72,183,363
NET DECREASE IN CASH AND CASH EQUIVALENTS	-2,265,163	7,676,057
CASH AND CASH EQUIVALENTS
BEGINNING OF PERIOD	32,711,636	25,035,579
END OF PERIOD	30,446,473	32,711,636
Guarantor Subsidiary [Member]
CASH FLOWS FROM OPERATING ACTIVITIES
NET INCOME (LOSS)	17,733,234	17,129,258
Adjustments to reconcile net income (loss) to cash flows from operating activities:
Equity of subsidiaries	-23,184,700	-18,088,189
Gain on life settlements
Amortization of deferred financing and issuance costs	479,278	823,004
Deferred income taxes
Preferred stock issued for dividends
Convertible, redeemable preferred stock issued in lieu of cash dividends
Repurchase of common stock
(Increase) decrease in operating assets:
Due from related parties	-291	8,613
Insurance benefits receivable
Other assets	-33,434,321	-45,077,218
Increase in operating liabilities:
Accounts payable	136,025	1,680
Interest payable	599,419	809,540
Other accrued expenses	16,367	-224,990
NET CASH FLOWS USED IN OPERATING ACTIVITIES	-37,654,989	-44,618,302
CASH FLOWS FROM INVESTING ACTIVITIES
Investment in life settlements
Proceeds from settlement of life settlements
NET CASH FLOWS USED IN INVESTING ACTIVITIES
CASH FLOWS FROM FINANCING ACTIVITIES
Net proceeds from revolving credit facility
Payments for redemption of Series I Secured Notes payable	-2,268,379	-8,671,624
Proceeds from issuance of debentures
Payments for issuance of debentures
Payments for redemption of debentures
Proceeds from (uses of) restricted cash	1,337,500	328,700
Issuance of common stock
Issuance of member capital	38,063,942	51,237,918
Payments for redemption of preferred stock
NET CASH FLOWS PROVIDED BY FINANCING ACTIVITIES	37,133,063	42,894,994
NET DECREASE IN CASH AND CASH EQUIVALENTS	-521,926	-1,723,308
CASH AND CASH EQUIVALENTS
BEGINNING OF PERIOD	738,157	2,461,465
END OF PERIOD	216,231	738,157
Non-Guarantor Subsidiaries [Member]
CASH FLOWS FROM OPERATING ACTIVITIES
NET INCOME (LOSS)	23,184,700	18,039,669
Adjustments to reconcile net income (loss) to cash flows from operating activities:
Equity of subsidiaries
Gain on life settlements	-39,928,003	-39,337,542
Amortization of deferred financing and issuance costs	357,900	-260,861
Deferred income taxes
Preferred stock issued for dividends
Convertible, redeemable preferred stock issued in lieu of cash dividends
Repurchase of common stock
(Increase) decrease in operating assets:
Due from related parties
Insurance benefits receivable	-1,750,000	2,850,000
Other assets
Increase in operating liabilities:
Accounts payable	50,000	208,000
Interest payable	679,531	208,918
Other accrued expenses	10,408	-1,690
NET CASH FLOWS USED IN OPERATING ACTIVITIES	-17,395,464	-18,293,506
CASH FLOWS FROM INVESTING ACTIVITIES
Investment in life settlements	-12,292,401	-34,997,500
Proceeds from settlement of life settlements	4,185,813	4,563,896
NET CASH FLOWS USED IN INVESTING ACTIVITIES	-8,106,588	-30,433,604
CASH FLOWS FROM FINANCING ACTIVITIES
Net proceeds from revolving credit facility	-6,838,952	8,000,000
Payments for redemption of Series I Secured Notes payable
Proceeds from issuance of debentures
Payments for issuance of debentures
Payments for redemption of debentures
Proceeds from (uses of) restricted cash	199,416	-4,068,578
Issuance of common stock
Issuance of member capital	32,141,588	44,795,688
Payments for redemption of preferred stock
NET CASH FLOWS PROVIDED BY FINANCING ACTIVITIES	25,502,052	48,727,110
NET DECREASE IN CASH AND CASH EQUIVALENTS
CASH AND CASH EQUIVALENTS
BEGINNING OF PERIOD
END OF PERIOD
Eliminations [Member]
CASH FLOWS FROM OPERATING ACTIVITIES
NET INCOME (LOSS)	-40,917,934	-35,168,927
Adjustments to reconcile net income (loss) to cash flows from operating activities:
Equity of subsidiaries	-40,917,934	-35,168,927
Gain on life settlements
Amortization of deferred financing and issuance costs
Deferred income taxes
Preferred stock issued for dividends
Convertible, redeemable preferred stock issued in lieu of cash dividends
Repurchase of common stock
(Increase) decrease in operating assets:
Due from related parties
Insurance benefits receivable
Other assets	70,205,530	96,033,606
Increase in operating liabilities:
Accounts payable
Interest payable
Other accrued expenses
NET CASH FLOWS USED IN OPERATING ACTIVITIES	70,205,530	96,033,606
CASH FLOWS FROM INVESTING ACTIVITIES
Investment in life settlements
Proceeds from settlement of life settlements
NET CASH FLOWS USED IN INVESTING ACTIVITIES
CASH FLOWS FROM FINANCING ACTIVITIES
Net proceeds from revolving credit facility
Payments for redemption of Series I Secured Notes payable
Proceeds from issuance of debentures
Payments for issuance of debentures
Payments for redemption of debentures
Proceeds from (uses of) restricted cash
Issuance of common stock
Issuance of member capital	-70,205,530	-96,033,606
Payments for redemption of preferred stock
NET CASH FLOWS PROVIDED BY FINANCING ACTIVITIES	-70,205,530	-96,033,606
NET DECREASE IN CASH AND CASH EQUIVALENTS
CASH AND CASH EQUIVALENTS
BEGINNING OF PERIOD
END OF PERIOD

Guarantees_of_L_Bonds_Details_2

Guarantees of L Bonds (Details Textual) (USD $)	12 Months Ended
	Dec. 31, 2014
Guarantees of L Bonds (Textual)
Debentures offer for sale	$214,421,000
Maximum rate of return on equity fund amount	18.00%
Guarantees of L Bonds [Member]
Guarantees of L Bonds (Textual)
Debentures offer for sale	$250,000,000

Concentrations_Details

Concentrations (Details)	Dec. 31, 2014	Dec. 31, 2013
AXA Equitable [Member]
Summary of the face value of insurance contracts with specific life insurance companies
Face value percentage of insurance contracts with specific life insurance companies	14.55%	16.58%
John Hancock [Member]
Summary of the face value of insurance contracts with specific life insurance companies
Face value percentage of insurance contracts with specific life insurance companies	11.48%	11.34%

Concentrations_Details_1

Concentrations (Details 1)	Dec. 31, 2014		Dec. 31, 2013
California [Member]
Summary of the number of insurance contracts held in specific states exceeding 10% of the total face value held by the Company
Percentage of insurance contracts held in specific states	28.87%		28.14%
Florida [Member]
Summary of the number of insurance contracts held in specific states exceeding 10% of the total face value held by the Company
Percentage of insurance contracts held in specific states	18.56%		15.59%
New York [Member]
Summary of the number of insurance contracts held in specific states exceeding 10% of the total face value held by the Company
Percentage of insurance contracts held in specific states		[1]	10.65%
[1]	* percentage does not exceed 10% of the total face value.

Concentration_Details_Textual

Concentration (Details Textual)	12 Months Ended
	Dec. 31, 2014
Concentration (Textual)
Description of issuance contracts with specific life insurance companies and contracts held in specific states	Exceeding 10% of the total face value

Subsequent_events_Details

Subsequent events (Details) (USD $)	0 Months Ended	12 Months Ended
	Jan. 09, 2015	Dec. 31, 2014
		Policy
		individual
Subsequent events (Textual)
Insurance benefit of mature securities		$21,125,000
Realized gains of policies		18,194,000
Additional principal amount of L bonds		19,051,000
Subsequent Event [Member]
Subsequent events (Textual)
Number of policies		4
Number of individuals		3
Insurance benefit of mature securities		21,125,000
Realized gains of policies		18,194,000
Publicly registered L Bond offering amount	1,000,000,000
Minimum increments for broker-dealer subsidiary	$25,000