<SEC-DOCUMENT>0000905148-25-003927.txt : 20251113
<SEC-HEADER>0000905148-25-003927.hdr.sgml : 20251113
<ACCEPTANCE-DATETIME>20251113163140
ACCESSION NUMBER:		0000905148-25-003927
CONFORMED SUBMISSION TYPE:	SCHEDULE 13D/A
PUBLIC DOCUMENT COUNT:		3
FILED AS OF DATE:		20251113
DATE AS OF CHANGE:		20251113

SUBJECT COMPANY:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			CONSUMER PORTFOLIO SERVICES, INC.
		CENTRAL INDEX KEY:			0000889609
		STANDARD INDUSTRIAL CLASSIFICATION:	FINANCE SERVICES [6199]
		ORGANIZATION NAME:           	02 Finance
		EIN:				330459135
		STATE OF INCORPORATION:			CA
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		SCHEDULE 13D/A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	005-43172
		FILM NUMBER:		251479118

	BUSINESS ADDRESS:	
		STREET 1:		3800 HOWARD HUGHES PKWY
		STREET 2:		SUITE 1400
		CITY:			LAS VEGAS
		STATE:			NV
		ZIP:			89169
		BUSINESS PHONE:		949.753.6800

	MAIL ADDRESS:	
		STREET 1:		3800 HOWARD HUGHES PKWY
		STREET 2:		SUITE 1400
		CITY:			LAS VEGAS
		STATE:			NV
		ZIP:			89169

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	CONSUMER PORTFOLIO SERVICES INC
		DATE OF NAME CHANGE:	19930328

FILED BY:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Black Diamond Capital Management I, LLLP
		CENTRAL INDEX KEY:			0002084285
		ORGANIZATION NAME:           	
		EIN:				660774462
		STATE OF INCORPORATION:			VI
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		SCHEDULE 13D/A

	BUSINESS ADDRESS:	
		ADDRESS IS A NON US LOCATION: 	YES
		STREET 1:		5330 YACHT HAVEN GRANDE
		STREET 2:		SUITE 100, BOX 35
		CITY:			ST. THOMAS
		PROVINCE COUNTRY:   	VI
		ZIP:			00802
		BUSINESS PHONE:		340-777-2950

	MAIL ADDRESS:	
		ADDRESS IS A NON US LOCATION: 	YES
		STREET 1:		5330 YACHT HAVEN GRANDE
		STREET 2:		SUITE 100, BOX 35
		CITY:			ST. THOMAS
		PROVINCE COUNTRY:   	VI
		ZIP:			00802

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	Black Diamond Holdings, LLLP
		DATE OF NAME CHANGE:	20250903
</SEC-HEADER>
<DOCUMENT>
<TYPE>SCHEDULE 13D/A
<SEQUENCE>1
<FILENAME>primary_doc.xml
<TEXT>
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<submissionType>SCHEDULE 13D/A</submissionType>
<filerInfo>
<filer>
<filerCredentials>
<cik>0002084285</cik>
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<formData>
<coverPageHeader>
<amendmentNo>6</amendmentNo>
<securitiesClassTitle>Common Stock, no par value</securitiesClassTitle>
<dateOfEvent>11/12/2025</dateOfEvent>
<previouslyFiledFlag>false</previouslyFiledFlag>
<issuerInfo>
<issuerCIK>0000889609</issuerCIK>
<issuerCUSIP>210502100</issuerCUSIP>
<issuerName>CONSUMER PORTFOLIO SERVICES, INC.</issuerName>
<address>
<com:street1>3800 Howard Hughes Parkway</com:street1>
<com:street2>Suite 1400</com:street2>
<com:city>Las Vegas</com:city>
<com:stateOrCountry>NV</com:stateOrCountry>
<com:zipCode>89169</com:zipCode>
</address>
</issuerInfo>
<authorizedPersons>
<notificationInfo>
<personName>Matthew Kane</personName>
<personPhoneNum>(203) 552-0888</personPhoneNum>
<personAddress>
<com:street1>2187 Atlantic Street</com:street1>
<com:street2>9th Floor</com:street2>
<com:city>Stamford</com:city>
<com:stateOrCountry>CT</com:stateOrCountry>
<com:zipCode>06902</com:zipCode>
</personAddress>
</notificationInfo>
</authorizedPersons>
</coverPageHeader>
<reportingPersons>
<reportingPersonInfo>
<reportingPersonCIK>0002084285</reportingPersonCIK>
<reportingPersonName>Black Diamond Capital Management I, LLLP</reportingPersonName>
<fundType>OO</fundType>
<citizenshipOrOrganization>VI</citizenshipOrOrganization>
<soleVotingPower>0</soleVotingPower>
<sharedVotingPower>5127165</sharedVotingPower>
<soleDispositivePower>0</soleDispositivePower>
<sharedDispositivePower>5127165</sharedDispositivePower>
<aggregateAmountOwned>5127165</aggregateAmountOwned>
<isAggregateExcludeShares>N</isAggregateExcludeShares>
<percentOfClass>23.2</percentOfClass>
<typeOfReportingPerson>IA</typeOfReportingPerson>
<typeOfReportingPerson>PN</typeOfReportingPerson>
</reportingPersonInfo>
<reportingPersonInfo>
<reportingPersonCIK>0001486844</reportingPersonCIK>
<reportingPersonName>Deckoff Stephen H</reportingPersonName>
<fundType>OO</fundType>
<citizenshipOrOrganization>X1</citizenshipOrOrganization>
<soleVotingPower>0</soleVotingPower>
<sharedVotingPower>5127165</sharedVotingPower>
<soleDispositivePower>0</soleDispositivePower>
<sharedDispositivePower>5127165</sharedDispositivePower>
<aggregateAmountOwned>5127165</aggregateAmountOwned>
<isAggregateExcludeShares>N</isAggregateExcludeShares>
<percentOfClass>23.2</percentOfClass>
<typeOfReportingPerson>IN</typeOfReportingPerson>
<typeOfReportingPerson>HC</typeOfReportingPerson>
</reportingPersonInfo>
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<items1To7>
<item1>
<securityTitle>Common Stock, no par value</securityTitle>
<issuerName>CONSUMER PORTFOLIO SERVICES, INC.</issuerName>
<issuerPrincipalAddress>
<com:street1>3800 Howard Hughes Parkway</com:street1>
<com:street2>Suite 1400</com:street2>
<com:city>Las Vegas</com:city>
<com:stateOrCountry>NV</com:stateOrCountry>
<com:zipCode>89169</com:zipCode>
</issuerPrincipalAddress>
<commentText>This Amendment No. 6 to Schedule 13D ("Amendment No. 6") amends and supplements the information set forth in the Schedule 13D filed by the Reporting Persons with the U.S. Securities and Exchange Commission (the "SEC") on December 9, 2021 (the "Original Schedule 13D"), as amended by Amendment No. 1, filed with the SEC on February 8, 2022 ("Amendment No. 1"), Amendment No. 2, filed with the SEC on February 15, 2022 ("Amendment No. 2"), Amendment No. 3, filed with the SEC on March 14, 2022 ("Amendment No. 3"), Amendment No. 4, filed with the SEC on June 28, 2022 ("Amendment No. 4"), and Amendment No. 5, filed with the SEC on August 26, 2025 ("Amendment No. 5" and, together with the Original Schedule 13D, Amendment No. 1, Amendment No. 2, Amendment No. 3, Amendment No. 4, and Amendment No. 5, the "Schedule 13D"), with respect to the Common Stock, no par value (the "Shares"), of Consumer Portfolio Services, Inc. (the "Issuer" or the "Company"), whose principal executive offices are located at 3800 Howard Hughes Parkway, Suite 1400, Las Vegas, Nevada 89169.  Each of the Original Schedule 13D and Amendment Nos. 1 - 5 were filed under BDCM CT, L.L.C. (CIK 0001282197).  Starting with this Amendment No. 6, the Schedule 13D will be filed under Black Diamond Capital Management I, LLLP (CIK 0002084285).  All capitalized terms contained herein but not otherwise defined shall have the meanings ascribed to such terms in the Schedule 13D.  Except as specifically provided herein, this Amendment No. 6 does not modify any of the information previously reported in the Schedule 13D.</commentText>
</item1>
<item2>
<filingPersonName>Item 2 of the Schedule 13D is hereby supplemented as follows:&#13;
&#13;
Since the filing of Amendment No. 5, Black Diamond Holdings, LLLP changed its name to Black Diamond Capital Management I, LLLP ("Black Diamond").  In addition, because, effective August 22, 2025, Black Diamond replaced BDCM CT, L.L.C. as the primary registered investment adviser that exercises investment discretion on behalf of investment advisory affiliates that serve as investment advisers to Black Diamond investment vehicles for whose accounts the Shares reported herein are held, BDCM CT, L.L.C. is no longer a Reporting Person on this Schedule 13D.</filingPersonName>
</item2>
<item4>
<transactionPurpose>Item 4 of the Schedule 13D is hereby amended and supplemented as follows:&#13;
&#13;
On November 12, 2025, the Reporting Persons issued a press release (the "Press Release") announcing their intent to vote against the Company's proposal to approve its 2025 Equity Incentive Plan (Proposal #4) at the Company's upcoming annual meeting of stockholders, scheduled to be held on November 19, 2025.  A copy of the Press Release is attached hereto as Exhibit I.&#13;
&#13;
The foregoing description of the Press Release does not purport to be complete and is qualified in its entirety by reference to the Press Release, a copy of which is filed as an exhibit hereto and is incorporated by reference herein.</transactionPurpose>
</item4>
<item5>
<percentageOfClassSecurities>Item 5 of the Schedule 13D is hereby amended and supplemented as follows:&#13;
&#13;
As of the date hereof, the Reporting Persons may be deemed to beneficially own 5,127,165 Shares, or approximately 23.2% of the Shares outstanding.  This figure is based upon information in the Company's quarterly report on Form 10-Q, filed November 10, 2025, indicating that, as of October 23 2025, there were 22,071,046 Shares outstanding.</percentageOfClassSecurities>
</item5>
<item6>
<contractDescription>Item 6 of the Schedule 13D is hereby amended and supplemented as follows:&#13;
&#13;
The response to Item 4 of this Amendment No. 6 is incorporated by reference herein.</contractDescription>
</item6>
<item7>
<filedExhibits>Item 7 of the Schedule 13D is hereby amended and supplemented as follows:&#13;
&#13;
Exhibit Description&#13;
&#13;
Exhibit H:  Joint Filing Agreement, dated November 13, 2025&#13;
Exhibit I:	 Press Release, dated November 12, 2025</filedExhibits>
</item7>
</items1To7>
<signatureInfo>
<signaturePerson>
<signatureReportingPerson>Black Diamond Capital Management I, LLLP</signatureReportingPerson>
<signatureDetails>
<signature>/s/ Stephen H. Deckoff</signature>
<title>Stephen H. Deckoff, Managing Principal</title>
<date>11/13/2025</date>
</signatureDetails>
</signaturePerson>
<signaturePerson>
<signatureReportingPerson>Deckoff Stephen H</signatureReportingPerson>
<signatureDetails>
<signature>/s/ Stephen H. Deckoff</signature>
<title>Stephen H. Deckoff</title>
<date>11/13/2025</date>
</signatureDetails>
</signaturePerson>
</signatureInfo>
</formData>

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<DOCUMENT>
<TYPE>EX-99.G
<SEQUENCE>2
<FILENAME>jointfilingagreement.htm
<DESCRIPTION>EXHIBIT H
<TEXT>
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      <div style="text-align: right; font-weight: bold;">EXHIBIT H<br>
      </div>
      <div><br>
      </div>
      <div style="text-align: center; font-weight: bold;">JOINT FILING AGREEMENT</div>
      <div><br>
      </div>
      <div style="text-indent: 36pt;">The undersigned hereby agree that the statement on Schedule 13D with respect to the Common Stock of Consumer Portfolio Services Inc. dated as of November 13, 2025 is, and any amendments thereto (including amendments on
        Schedule 13G) signed by each of the undersigned shall be, filed on behalf of each of us pursuant to and in accordance with the provisions of Rule 13d-1(k) under the Securities Exchange Act of 1934, as amended.</div>
      <div style="text-align: center;"> </div>
      <div><br>
      </div>
      <div>
        <div>
          <div><br>
          </div>
        </div>
        <table cellspacing="0" cellpadding="0" id="z7094a3856f5b4d32a43adc744fc5e905" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

            <tr>
              <td style="width: 45.78%; vertical-align: top;"> <br>
              </td>
              <td style="width: 54.22%; vertical-align: top;" colspan="3">
                <div style="font-weight: bold;">Black Diamond Capital Management I, LLLP<br>
                </div>
              </td>
            </tr>
            <tr>
              <td style="width: 45.78%; vertical-align: top;"> <br>
              </td>
              <td style="width: 14.62%; vertical-align: top;"> <br>
              </td>
              <td style="width: 39.6%; vertical-align: top;" colspan="2"> <br>
              </td>
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            <tr>
              <td style="width: 45.78%; vertical-align: top;"> <br>
              </td>
              <td style="width: 14.62%; vertical-align: top;">
                <div style="font-weight: bold;">Signature:</div>
              </td>
              <td nowrap="nowrap" style="width: 39.34%; vertical-align: top;">
                <div>/s/ Stephen H. Deckoff<br>
                </div>
              </td>
              <td nowrap="nowrap" style="width: 0.26%; vertical-align: top;"> <br>
              </td>
            </tr>
            <tr>
              <td style="width: 45.78%; vertical-align: top;"> <br>
              </td>
              <td style="width: 14.62%; vertical-align: top;">
                <div style="font-weight: bold;">Name/Title:</div>
              </td>
              <td nowrap="nowrap" style="width: 39.6%; vertical-align: bottom;" colspan="2">
                <div>Stephen H. Deckoff, Managing Principal<br>
                </div>
              </td>
            </tr>
            <tr>
              <td style="width: 45.78%; vertical-align: top;"> <br>
              </td>
              <td style="width: 14.62%; vertical-align: top;">
                <div style="font-weight: bold;">Date:</div>
              </td>
              <td style="width: 39.6%; vertical-align: top;" colspan="2">
                <div>11/13/2025</div>
              </td>
            </tr>

        </table>
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          <div><br>
          </div>
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        <table cellspacing="0" cellpadding="0" id="zf8da10b3b6bf42c0ba88af7c1e03d77d" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

            <tr>
              <td style="width: 45.78%; vertical-align: top;"> <br>
              </td>
              <td style="width: 54.22%; vertical-align: top;" colspan="3">
                <div style="font-weight: bold;">Stephen H. Deckoff<br>
                </div>
              </td>
            </tr>
            <tr>
              <td style="width: 45.78%; vertical-align: top;"> <br>
              </td>
              <td style="width: 14.62%; vertical-align: top;"> <br>
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              <td style="width: 45.78%; vertical-align: top;"> <br>
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                <div style="font-weight: bold;">Signature:</div>
              </td>
              <td nowrap="nowrap" style="width: 39.34%; vertical-align: top;">
                <div>/s/ Stephen H. Deckoff<br>
                </div>
              </td>
              <td nowrap="nowrap" style="width: 0.26%; vertical-align: top;"> <br>
              </td>
            </tr>
            <tr>
              <td style="width: 45.78%; vertical-align: top;"> <br>
              </td>
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                <div style="font-weight: bold;">Name/Title:</div>
              </td>
              <td nowrap="nowrap" style="width: 39.6%; vertical-align: bottom;" colspan="2">Stephen H. Deckoff<br>
              </td>
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                <div style="font-weight: bold;">Date:</div>
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              <td style="width: 39.6%; vertical-align: top;" colspan="2">
                <div>11/13/2025</div>
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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.I
<SEQUENCE>3
<FILENAME>pressrelease.htm
<DESCRIPTION>EXHIBIT I
<TEXT>
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    <title></title>
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    <div style="text-align: right; font-weight: bold;">EXHIBIT I</div>
    <div><br>
    </div>
    <div style="text-align: center; font-weight: bold;">PRESS RELEASE</div>
    <div><br>
    </div>
    <div><br>
    </div>
    <div style="text-align: center; margin-bottom: 8pt; font-weight: bold;">BLACK DIAMOND ANNOUNCES INTENT TO VOTE &#8220;AGAINST&#8221; CPSS EQUITY INCENTIVE PLAN</div>
    <div style="margin-bottom: 8pt;">ST. THOMAS, USVI &#8212; November 12, 2025&#8212;Black Diamond Capital Management today announced that one of its affiliates, the largest common
      stockholder of Consumer Portfolio Services, Inc. (the &#8220;Company&#8221;), intends to vote AGAINST the Company&#8217;s proposal to approve its 2025 Equity Incentive Plan (Proposal #4) at the Company&#8217;s upcoming annual meeting of stockholders.&#160; Steve Deckoff, the
      founder of Black Diamond and a member of the Company&#8217;s Board of Directors since 2022, released the following statement, speaking in his capacity as founder of Black Diamond and not on behalf of the Board, explaining the reasons for Black Diamond&#8217;s
      vote:</div>
    <div style="margin-left: 36pt; margin-bottom: 8pt;">Consumer Portfolio Services has not been performing well.&#160; As of November 10, 2025, CPS&#8217;s stock has declined
      approximately 20% year to date, while the S&amp;P 500 has gained approximately 16% according to Bloomberg.&#160; The stock was trading at approximately 65% of book value, reflecting shareholder concerns regarding the Company&#8217;s ability to earn an
      attractive return on capital.&#160; In our view, now is not the time to adopt a new equity plan that would further increase potential dilution and risk entrenching management.</div>
    <div style="margin-left: 36pt; margin-bottom: 8pt;">According to the Company&#8217;s proxy statement filed with the SEC October 28, 2025, there were stock options outstanding on
      6,227,631 common shares under the 2006 Equity Plan, representing approximately 28.2% of the outstanding common shares.&#160; The number of outstanding options is, in our view, excessive for any company and materially higher than the Company&#8217;s peer group.&#160;
      Thus, it is no surprise that a leading proxy advisory firm, Institutional Shareholder Services (ISS), recommended shareholders vote AGAINST this proposal.&#160; Amongst the many reasons ISS provided, it cited excessive dilution as the &#8220;overriding factor&#8221;
      in its analysis.</div>
    <div style="margin-left: 36pt; margin-bottom: 8pt;">We do not agree with the Company&#8217;s reasons for supporting the 2025 Equity Incentive Plan as stated in its proxy.&#160; In
      our view, the Company has not used the plan responsibly, the number of shares available under the proposed plan is not reasonable, and the Company&#8217;s compensation practices are not aligned with similarly situated companies.</div>
    <div style="margin-left: 36pt; margin-bottom: 8pt;">Consumer Portfolio Services&#8217; CEO owns approximately 17.8% of the company&#8217;s common shares, and according to the proxy
      statement, owned options to acquire another 2.19 million shares as of the end of 2024, representing another 9.9% of the Company&#8217;s common shares.&#160; The CEO has historically been by far the largest recipient of Option Awards under the previous Equity
      Incentive Plan, and we believe it can be assumed this time will be no different.&#160; We believe allowing the CEO to further increase his shareholdings through this plan would have the effect of entrenching management at a time of continued
      underperformance.&#160; This is not appropriate in our view.</div>
    <div style="margin-left: 36pt; margin-bottom: 8pt;">For these reasons, we believe the Board of Directors should not have approved this proposal, and we intend to vote
      AGAINST it.</div>
    <div style="font-weight: bold;">THIS COMMUNICATION IS FOR INFORMATIONAL PURPOSES ONLY AND IS NOT A SOLICITATION OF AUTHORITY TO VOTE YOUR PROXY.</div>
    <div style="margin-bottom: 8pt;"><br>
    </div>
    <div style="margin-bottom: 8pt; font-weight: bold;">Contact:</div>
    <div style="margin-bottom: 8pt;">Black Diamond Legal Department<br>
      Office: +1 (203) 552-0888<br>
      Email: legal@bdcm.com<br>
      2187 Atlantic Street, 9th Floor<br>
      Stamford, CT 06902</div>
    <div style="margin-bottom: 8pt;"><br>
    </div>
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