Asta Funding is a consumer receivable asset management company that purchases, manages, and eventually liquidates both performing and non-performing consumer receivables. These receivables include credit accounts issued by large grantors (i.e. Visa, Mastercard), as well as banks, telecom accounts and other consumer loans.
The non-conforming consumer receivable market is growing all the time, as consumer debt increases during this state of relative economic unrest. While originating credit institutions have traditionally preferred to keep recovery efforts in-house, more and more lenders are beginning to sell their charged-off receivables for immediate funding.
Since 1999, Asta has purchased nearly $18 billion in charged-off or sub-prime receivables. For example, in 2006, the company bought receivables with a face value of $4.7 billion for around $184 million. Asta takes a keen approach in liquidating these assets as well. Through its large network of collection agencies and law firms, Asta outsources collection at a low cost, thereby maximizing its portfolio potential.
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