Asta Funding, Inc., (NASDAQ:ASFI), a leading consumer receivables asset management and liquidation company today announced that it acquired $135 million of severely distressed consumer loans at a substantial discount.
Gary Stern, president & CEO commented, “This latest portfolio purchase is consistent with our long-term strategy. We continue to pursue these opportunities in a conservative manner and are looking to maximize our returns.”
About Asta Funding
Based in Englewood Cliffs, NJ, Asta Funding, Inc., is a leading consumer receivables asset management company that specializes in the purchase, liquidation and management of performing and non-performing consumer receivables, as well as factoring commercial receivables. Asta generates revenues and earnings primarily through purchase and collection of performing and non-performing consumer receivables and commercial factoring receivables. Asta has strategic alliances with the leading companies in the consumer receivables market. For additional information, please visit our Web site at www.astafunding.com.
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