A newcomer asked what seasoning meant and got the number that explains it

Anyone new to notes runs into the same wall. Every article assumes the reader already knows the vocabulary, and seasoning is one of the words that gets used constantly without ever being defined. Here is the plain version. Seasoning is the payment history a note has already built up, and the number that matters is how many payments have actually been made before you buy it. Take two notes with identical terms on paper. One has twenty-two payments made on time before it changes hands, the other has four. Twenty-two months of somebody making a payment they didn't have to make is twenty-two months of evidence that the debtor pays. Four months is closer to a guess. That distinction is worth internalizing early, because it shows up in pricing, in risk, and in how a buyer should think about any note with a short track record versus a long one. Everything else in note investing is vocabulary that gets easier with repetition, but this concept is the one that actually changes how you evaluate a deal.