Why do monthly statements generated after December 2020 have different summary headings?
All monthly statements generated prior to December 2020 include two charge-off related items in the activity section: Charge-Offs and Principal Recovered. Charge-offs in the statements issued prior to December 2020 reflect the net charge-offs for that period (gross charge-offs + principal recovered).
All statements generated from December 2020 onwards will include a more detailed breakdown of the charge-off-related activities for the period, including Gross Charged-Off Principal, Principal Recovered and Net Charged-Off Principal.