Asta Funding, Inc, a leading factor and consumer receivables asset management and liquidation company, today announced that it has formed a strategic alliance with a major consumer receivables management company. This new alliance will enable our newly formed subsidiary Palisades Acquisition, LLC to purchase distressed consumer receivables from companies that have relationships with the consumer receivables management company.
Gary Stern, Asta president and CEO commented, "The alliance gives ASTA an increased outlet and brand franchise for buying and outsourcing distressed consumer receivables. We continue to build relationships in order to achieve our goal to become one of the leading distressed and non-conforming consumer receivables asset management and liquidation company's in the marketplace."
ASTA has committed up to US$10 million to the new alliance.
