Asta Funding Reports Receivable Purchase

Asta Funding, Inc. (NASDAQ:ASFI), a financial services company in the consumer receivables liquidation and management business and commercial factoring business, today reported that it will invest $3.5 million for a twenty-five interest in a joint venture purchase of approximately $40 million of performing and semi-performing consumer receivables. The receivables were purchased at a substantial discount.

Gary Stern, President & CEO said, “I am very pleased with this acquisition of consumer receivables. This purchase will assist the Company in achieving its growth objectives this fiscal year. In addition, the Company is actively pursuing additional receivable portfolios that meet our business model.”

About Asta Funding, Inc.
Headquartered in Englewood Cliffs, NJ, Asta Funding, Inc., is a financial services company engaged in the consumer receivables liquidation and management business and commercial factoring business. The company generates revenues and earnings primarily through the purchase and collection of previously charged-off consumer credit card receivables and commercial factoring receivables. For more information, please visit the company’s web site at