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By Contributing Author: Sergei Lemberg Updated on

Are You Being Called By Asta Funding, Inc.?*

Stop the

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Debt collectors have a habit of calling when you least expect it and, once they have you on the line, trying to push you into paying immediately and in full. If this happens, don’t let yourself be bullied or intimidated. You have rights that prevent you from being abused for disputing or refusing to pay a debt.

Your Rights Under the FDCPA

At one time, debt collectors were causing bankruptcy levels to shoot up. In 1977, Congress passed the Fair Debt Collection Practices Act, or FDCPA, which prohibits abusive debt collection practices. Tactics like the ones mentioned below can actually get an agency closed down.

  • Calling you at inconvenient times, such as before 8:00 a.m. and after 9:00 p.m. in your time zone
  • Demanding amounts not supported by law or the original creditor agreement
  • Talking to your friends and family about your debt
  • Maliciously reporting inaccurate information to the credit bureaus
  • Demanding amounts that exceed the original debt

Are You Being Called by Asta Funding, Inc?

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Company Profile: Asta Funding, Inc.

If you are being called by Asta Funding, Inc., you can read below for more information about the company.

Asta Funding, Inc. is a financial services company and debt buyer located in Englewood Cliffs, New Jersey. It was established in 1994, has approximately 149 employees, and is managed by Gary Stern. Its collections are usually undertaken by Palisades Collections LLC. Records retained by the PACER (Public Access to Court Electronic Records) website indicate that consumers who felt they were being harassed by Asta Funding, Inc. challenged the company in federal court.

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Alleged Violations Against Asta Funding, Inc.

Charles Frye vs. Palisades Collections LLC, Asta Funding, Inc. et al**

According to PACER, beginning in or around early 2012, Palisades Collections LLC and Asta Funding, Inc. contacted California resident Charles Frye in an attempt to collect a debt past the statute of limitations.

Mr. Frye later claimed that during the initial conversation, Palisades Collections LLC and Asta Funding, Inc. claimed that the debt was immediately due and owing. He replied that he disputed its validity, citing that it was past the statute of limitations, and as a result, would not be repaid.

The companies allegedly threatened that unless he made immediate payment, they would immediately pull an inquiry on Plaintiff’s credit report “so that everyone will see” the mark on his credit report, adding that the inquiry would leave a negative mark on his credit report for two years.

The call ended when Mr. Frye again refused to pay, and soon after, an inquiry was pulled on his credit report as threatened. This overshadowed his right to dispute the debt within 30 days.

Feeling harassed by Asta Funding, Inc., he hired a consumer attorney and sued the company for allegedly violating the FDCPA in the following ways:

The matter was later settled.

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Hire an Attorney

The phone number for this collection agency is 1-201-567-5648. If this number appears on your caller ID, it means that you are being called by Asta Funding, Inc. If they try to make you pay a debt that has passed the statute of limitations and then attempt to negatively affect your credit when you refuse, hire a consumer attorney.

You could potentially be awarded $1,000 per violation as well as attorney’s fees, court costs, and any actual damages, making their harassment of you an expensive mistake.

*Disclaimer: The content of this article serves only to provide information and should not be construed as legal advice. If you file a claim against Asta Funding, Inc., or any other third-party collection agency, you may not be entitled to any compensation.

**Case taken from PACER ( File number is Case 2:12-cv-02511-GEB-AC from the United States District Court for the Eastern District of California, Sacramento Division.

About the author:

Contributing Author: Sergei Lemberg

Sergei Lemberg is a consumer rights attorney, practicing since 2006, whose practice focuses on consumer law, class actions and personal injury litigation. He is known for a United States Supreme Court case (Facebook v. Duguid) defending consumers from autodialers under the Telephone Consumer Protection Act of 1991 to send unsolicited text messages. He is also the author of Defanging Debt Collectors, a book that teaches consumers how to battle debt collectors and win.

See more posts from Contributing Author: Sergei Lemberg
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