Asta Funding (ASFI) 10-Q/A 26 Jun 15 2014 Q3 Quarterly report (amended) Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Jun. 30, 2014	Jun. 20, 2015
Document Information [Line Items]
Document Type	10-Q/A
Amendment Flag	true
Amendment Description	We are filing this Amendment No. 1 on Form 10-Q/A to revise and restate the following items of our Quarterly Report on Form 10-Q for the quarter ended June 30, 2014 as originally filed with the Securities and Exchange Commission on August 18, 2014 (the “Original Form 10-Q”): (i) Item 1 of Part I “Financial Information,” (ii) Item 2 of Part I, “Management’s Discussion and Analysis of Financial Condition and Results of Operations,” (iii) Item 4 of Part I, “Controls and Procedures,” and (iv) Item 6 of Part II, “Exhibits”, and we have also updated the signature page, the certifications of our Chief Executive Officer and Chief Financial Officer in Exhibits 31.1, 31.2, 32.1 and 32.2, and our financial statements formatted in Extensible Business Reporting Language (XBRL) in Exhibit 101. No other sections were affected, but for the convenience of the reader, this report on Form 10-Q/A restates in its entirety, as amended, our Original Form 10-Q. This report on Form 10-Q/A is presented as of the filing date of the Original Form 10-Q and, except where otherwise noted, does not reflect events occurring after that date, or modify or update disclosures in any way other than as required to reflect the revision and restatement described below. We previously reported finance income for certain portfolios of consumer receivables acquired for liquidation using the interest method (“interest method portfolios”) in accordance with the guidance of FASB Accounting Standards Codification (“ASC”), Receivables – Loans and Debt Securities Acquired with Deteriorated Credit Quality (ASC 310-30) We subsequently concluded that it is more appropriate to recognize finance income on these portfolios using the cost recovery method in accordance with ASC 310-30, and to reflect the change in accounting method in results of operations for the quarter ended December 31, 2013. The effect on the restated results of operations for the quarterly period ended June 30, 2014, was a reduction of pre-tax income of $1.3 million with an associated tax benefit of $0.5 million which resulted in net income attributable to Asta Funding, Inc. of $4.7 million or $0.35 per share (diluted) from $5.5 million or $0.41 per share (diluted). The effect on the quarterly period ended June 30, 2013 was a reduction of pre-tax income of $1.1 million, with an associated tax benefit of $0.4 million which resulted in net loss attributable to Asta Funding, Inc. of $3.4 million or $0.26 loss peer share from $2.7 million or $0.21 loss per share. The effect on the nine month period ended June 30, 2014 was a reduction of pretax income of $5.5 million with an associated tax benefit of $1.9 million which resulted in net income attributable to Asta Funding, Inc. of $5.7 million or $0.43 per share (diluted) from $9.3 million or $0.70 per share (diluted). The effect on the comparable nine month period ended June 30, 2013 was not material. In addition, we identified certain pre-tax misstatements in prior periods related to our accounting for interest method portfolios accounted for under ASC 310-30. The misstatement resulted in an increase in the carrying value of interest method portfolios of approximately $6.4 million, with an associated decrease in deferred tax assets of approximately $2.7 million as of September 30, 2013. The impact of the misstatement in prior years’ financial statements was not material to any of those years, however, the cumulative effect of correcting all of the prior period misstatements in the current year would be material to our current year consolidated financial statements. As such, we have accounted for the cumulative effect of this misstatement as an adjustment to the beginning balance of retained earnings of approximately $3.7 million as of September 30, 2013, in this quarterly report for the period ended June 30, 2014. See Note 2 to notes to condensed consolidated financial statements for more information.
Document Period End Date	Jun. 30, 2014
Document Fiscal Year Focus	2,014
Document Fiscal Period Focus	Q3
Trading Symbol	ASFI
Entity Registrant Name	ASTA FUNDING INC
Entity Central Index Key	1,001,258
Current Fiscal Year End Date	--09-30
Entity Current Reporting Status	No
Entity Filer Category	Accelerated Filer
Entity Common Stock, Shares Outstanding		13,060,839

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($)		Jun. 30, 2014	Sep. 30, 2013
ASSETS
Cash and cash equivalents	[1]	$ 26,017,000	$ 35,179,000
Available for sale investments	[1]	$ 70,205,000	58,035,000
Restricted cash	[1]		968,000
Consumer receivables acquired for liquidation (at net realizable value)	[1]	$ 32,414,000	64,254,000
Structured settlements	[1]	35,892,000
Investment in personal injury claims	[1]	31,733,000	35,758,000
Due from third party collection agencies and attorneys	[1]	1,138,000	1,169,000
Prepaid and income taxes receivable	[1]		1,496,000
Furniture and equipment, net	[1]	656,000	1,106,000
Deferred income taxes	[1]	8,091,000	7,772,000
Goodwill	[1]	2,770,000	1,410,000
Other assets	[1]	4,990,000	4,383,000
Total assets	[1]	$ 213,906,000	211,530,000
LIABILITIES
Non-recourse debt - Bank of Montreal	[1]		35,760,000
Other debt - CBC (including non-recourse notes payable amounting to $13.0 million at June 30, 2014)	[1]	$ 27,434,000
Other liabilities	[1]	2,723,000	2,486,000
Income taxes payable	[1]	3,084,000
Total liabilities	[1]	$ 33,241,000	$ 38,246,000
Commitments and contingencies	[1]
STOCKHOLDERS' EQUITY
Preferred stock, $.01 par value; authorized 5,000,000 shares; issued and outstanding - none	[1]
Common stock, $.01 par value; authorized 30,000,000 shares; issued - 12,985,739 at June 30, 2014 and 14,917,977 at September 30, 2013; and outstanding 12,985,739 at June 30, 2014 and 12,974,239 at September 30, 2013	[1]	$ 130,000	$ 149,000
Additional paid-in capital	[1]	62,648,000	79,104,000
Retained earnings	[1]	118,403,000	112,694,000
Accumulated other comprehensive income (loss)	[1]	22,000	(674,000)
Treasury stock (at cost), 0 shares at June 30, 2014 and 1,943,738 shares at September 30, 2013	[1]		(17,805,000)
Non-controlling interest	[1]	(538,000)	(184,000)
Total stockholders' equity	[1]	180,665,000	173,284,000
Total liabilities and stockholders' equity	[1]	$ 213,906,000	$ 211,530,000
[1]	For discussion on the adjustments, see Note 2 - Restatement of Quarterly Financial Statements and Revision of Prior Period Financial statements.

Condensed Consolidated Balance3

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Millions		Jun. 30, 2014	Sep. 30, 2013
Other debt, non-recourse notes payable	[1]	$ 13
Preferred stock, par value	[1]	$ 0.01	$ 0.01
Preferred stock, shares authorized	[1]	5,000,000	5,000,000
Preferred stock, shares issued	[1]	0	0
Preferred stock, shares outstanding	[1]	0	0
Common stock, par value	[1]	$ 0.01	$ 0.01
Common stock, shares authorized	[1]	30,000,000	30,000,000
Common stock, shares issued	[1]	12,985,739	14,917,977
Common stock, shares outstanding	[1]	12,985,739	12,974,239
Treasury stock, shares	[1]	0	1,943,738
[1]	For discussion on the adjustments, see Note 2 - Restatement of Quarterly Financial Statements and Revision of Prior Period Financial statements.

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations - Entity [Domain] - USD ($)		3 Months Ended				9 Months Ended
		Jun. 30, 2014		Jun. 30, 2013		Jun. 30, 2014		Jun. 30, 2013
Revenues:
Finance income on consumer receivables, net	[1]	$ 5,074,000	[2]	$ 8,972,000	[3]	$ 14,792,000	[4]	$ 25,040,000	[5]
Personal injury claims income	[1]	1,779,000		2,287,000		5,724,000		4,921,000
Unrealized gain on structured settlements	[1]	620,000				1,440,000
Interest income on structured settlements	[1]	786,000				1,501,000
Total revenues	[1]	8,259,000		11,259,000		23,457,000		29,961,000
Forgiveness of non-recourse debt	[1]	26,101,000				26,101,000
Other income (includes ($116,000) and $17,000 during the three month periods ended June 30, 2014 and 2013, and ($141,000) and $192,000 during the nine month periods ended June 30, 2014 and 2013, respectively, of accumulated other comprehensive income reclassification for unrealized net (losses) / gains on available for sale securities)	[1]	336,000		378,000		1,370,000		1,628,000
Revenues, Total	[1]	34,696,000		11,637,000		50,928,000		31,589,000
Expenses:
General and administrative	[1]	7,012,000		6,545,000		20,517,000		17,926,000
Interest	[1]	413,000		518,000		820,000		1,621,000
Impairments of consumer receivables acquired for liquidation	[1]	19,591,000		10,186,000		19,591,000		10,705,000
Total expenses	[1]	27,016,000		17,249,000		40,928,000		30,252,000
Income (loss) before income tax expense (benefit)	[1]	7,680,000		(5,612,000)		10,000,000		1,337,000
Income tax expense (benefit) (includes tax (benefit) expense of ($47,000) and $5,000 during the three month periods ended June 30, 2014 and 2013, and ($57,000) and $76,000 during the nine month periods ended June 30, 2014 and 2013, respectively, of accumulated other comprehensive income reclassifications for unrealized net (losses) gains on available for sale securities)	[1]	2,973,000		(2,296,000)		3,808,000		443,000
Net income (loss)	[1]	4,707,000		(3,316,000)		6,192,000		894,000
Less: net income attributable to non-controlling interest	[1]	20,000		53,000		483,000		176,000
Net income (loss) attributable to Asta Funding, Inc.	[1]	$ 4,687,000		$ (3,369,000)		$ 5,709,000		$ 718,000
Net income (loss) per share attributable to Asta Funding, Inc.:
Basic	[1]	$ 0.36	[6]	$ (0.26)	[7]	$ 0.44	[6]	$ 0.06	[7]
Diluted	[1]	$ 0.35	[6]	$ (0.26)	[7]	$ 0.43	[6]	$ 0.05	[7]
Weighted average number of common shares outstanding:
Basic	[1]	12,984,882	[6]	12,954,455	[7]	12,979,472	[6]	12,946,521	[7]
Diluted	[1]	13,214,703	[6]	12,954,455	[7]	13,208,015	[6]	13,217,656	[7]
[1]	For discussion on the adjustments, see Note 2 - Restatement of Quarterly Financial Statements and Revision of Prior Period Financial statements.
[2]	Includes $5.1 million derived from fully amortized pools.
[3]	Includes $7.3 million derived from fully amortized pools.
[4]	Includes $14.8 million derived from fully amortized pools.
[5]	Includes $20.4 million derived from fully amortized pools.
[6]	Net income and per share data have been restated as explained in Note 2 - Restatement of Quarterly Financial Statements and Revision of Prior Period Financial Statements.
[7]	Net income and per share data have been revised as explained in Note 2 - Restatement of Quarterly Financial Statements and Revision of Prior Period Financial Statements.

Condensed Consolidated Stateme5

Condensed Consolidated Statements of Operations (Parenthetical) - USD ($)		3 Months Ended		9 Months Ended
		Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Reclassifications for unrealized net (losses) / gains on available for sale securities	[1]	$ (116,000)	$ 17,000	$ (141,000)	$ 192,000
Income tax expense, tax benefit	[1]	$ (47,000)	$ 5,000	$ (57,000)	$ 76,000
[1]	For discussion on the adjustments, see Note 2 - Restatement of Quarterly Financial Statements and Revision of Prior Period Financial statements.

Condensed Consolidated Stateme6

Condensed Consolidated Statements of Comprehensive Income (Loss) - USD ($)		3 Months Ended		9 Months Ended
		Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Net income (loss)	[1]	$ 4,707,000	$ (3,316,000)	$ 6,192,000	$ 894,000
Net unrealized securities gain / (loss), net of tax expense (benefit) of $263,000 and ($415,000), during the 3 month periods ended June 30, 2014 and 2013, respectively, and $511,000 and ($543,000) during the 9 month periods ended June 30, 2014 and 2013, respectively.	[1]	394,000	(631,000)	780,000	(822,000)
Reclassification adjustments for securities sold, net of tax (benefit) expense of ($47,000) and $5,000, during the 3 month periods ended June 30, 2014 and 2013, respectively, and ($57,000) and $76,000, during the 9 month periods ended June 30, 2014 and 2013, respectively.	[1]	(69,000)	(12,000)	(84,000)	(116,000)
Other comprehensive income (loss)	[1]	325,000	(643,000)	696,000	(938,000)
Total comprehensive income (loss)	[1]	$ 5,032,000	$ (3,959,000)	$ 6,888,000	$ (44,000)
[1]	For discussion on the adjustments, see Note 2 - Restatement of Quarterly Financial Statements and Revision of Prior Period Financial statements.

Condensed Consolidated Stateme7

Condensed Consolidated Statements of Comprehensive Income (Loss) (Parenthetical) - USD ($)		3 Months Ended		9 Months Ended
		Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Unrealized securities gain / (loss), tax (expense) / tax benefit	[1]	$ 263,000	$ (415,000)	$ 511,000	$ (543,000)
Reclassification adjustments for securities sold, tax (benefit) expense	[1]	$ (47,000)	$ 5,000	$ (57,000)	$ 76,000
[1]	For discussion on the adjustments, see Note 2 - Restatement of Quarterly Financial Statements and Revision of Prior Period Financial statements.

Condensed Consolidated Stateme8

Condensed Consolidated Statements of Stockholders' Equity - Jun. 30, 2014 - USD ($)		Total		Common Stock	Additional Paid-in Capital	Retained Earnings	Accumulated Other Comprehensive Loss	Treasury Stock	[1]	Non- Controlling Interest
Beginning balance (in shares) (As Reported) at Sep. 30, 2013				14,917,977
Beginning balance (in shares) at Sep. 30, 2013				14,917,977
Beginning balance (As Reported) at Sep. 30, 2013		$ 169,601,000		$ 149,000	$ 79,104,000	$ 109,011,000	$ (674,000)	$ (17,805,000)		$ (184,000)
Beginning balance at Sep. 30, 2013		$ 173,284,000	[2]	$ 149,000	79,104,000	112,694,000	(674,000)	(17,805,000)		(184,000)
Exercise of options (in shares)		11,500		11,500
Exercise of options		$ 40,000			40,000
Stock based compensation expense		1,290,000			1,290,000
Net income | As Reported		9,778,000
Net income	[2]	6,192,000				5,709,000				483,000
Unrealized loss on marketable securities		696,000					696,000
Retirement of treasury stock (in shares)				(1,943,738)
Retirement of treasury stock		0		$ (19,000)	(17,786,000)			17,805,000
Distributions to non-controlling interest		(837,000)								(837,000)
Ending balance (in shares) at Jun. 30, 2014				12,985,739
Ending balance (As Reported) at Jun. 30, 2014		180,568,000
Ending balance at Jun. 30, 2014		180,665,000	[2]	$ 130,000	$ 62,648,000	118,403,000	$ 22,000	$ 0		$ (538,000)
Cumulative impact of revisions, prior years		$ 3,683,000				$ 3,683,000
[1]	Treasury shares at September 30, 2013 totaled 1,943,738.
[2]	For discussion on the adjustments, see Note 2 - Restatement of Quarterly Financial Statements and Revision of Prior Period Financial statements.

Condensed Consolidated Stateme9

Condensed Consolidated Statements of Cash Flows - USD ($)		9 Months Ended
		Jun. 30, 2014	Jun. 30, 2013
Cash flows from operating activities
Net income	[1]	$ 6,192,000	$ 894,000
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	[1]	450,000	450,000
Deferred income taxes	[1]	(773,000)	29,000
Impairment of consumer receivables acquired for liquidation	[1]	19,591,000	10,705,000
Stock based compensation	[1]	1,290,000	1,498,000
Loss / (gain) on sale of available-for-sale securities	[1]	141,000	(192,000)
Structured settlements - accrued interest	[1]	(1,475,000)
Structured settlements - gains	[1]	(1,440,000)
Forgiveness of non-recourse debt	[1]	(26,101,000)
Changes in:
Prepaid and income taxes receivable	[1]	1,496,000	382,000
Due from third party collection agencies and attorneys	[1]	31,000	802,000
Other assets	[1]	(596,000)	(2,369,000)
Income taxes payable	[1]	3,084,000
Other liabilities	[1]	(119,000)	(1,104,000)
Net cash provided by operating activities	[1]	1,771,000	11,095,000
Cash flows from investing activities
Purchase of consumer receivables acquired for liquidation	[1]	(3,702,000)	(3,340,000)
Principal collected on receivables acquired for liquidation	[1]	15,950,000	16,567,000
Principal collected on receivables accounts represented by account sales	[1]	1,000	432,000
Purchase of available-for-sale securities	[1]	(19,845,000)	(29,907,000)
Proceeds from sale of available-for-sale securities	[1]	8,684,000	28,918,000
Proceeds from maturities of certificates of deposit	[1]		33,918,000
Cash paid for acquisition (net of cash acquired)	[1]	(5,588,000)
Investments in personal injury claims - advances	[1]	(16,392,000)	(22,863,000)
Investments in personal injury claims - receipts	[1]	20,417,000	9,162,000
Investment in structured settlements - advances	[1]	(4,696,000)
Investments in structured settlements - receipts	[1]	2,155,000
Capital expenditures	[1]		(725,000)
Net cash (used in) provided by investing activities	[1]	(3,016,000)	32,162,000
Cash flows from financing activities
Proceeds from exercise of stock options	[1]	40,000	103,000
Changes in restricted cash	[1]	968,000	21,000
Distribution to non-controlling interest	[1]	(837,000)
Repayment of non-recourse debt	[1]	(9,659,000)	(7,213,000)
Borrowings of other debt	[1]	4,131,000
Repayments of other debt	[1]	(2,560,000)
Dividends paid	[1]		(1,290,000)
Purchase of treasury stock	[1]		(1,579,000)
Net cash used in financing activities	[1]	(7,917,000)	(9,958,000)
Net (decrease) increase in cash and cash equivalents	[1]	(9,162,000)	33,299,000
Cash and cash equivalents at beginning of period	[1]	35,179,000	4,953,000
Cash and cash equivalents at end of period	[1]	26,017,000	38,252,000
Cash paid for:
Interest	[1]	678,000	$ 1,645,000
Supplemental disclosures of non-cash investing and financing activities:
Structured settlements	[1]	30,436,000
Other debt - CBC	[1]	23,363,000
Retirement of treasury stock	[1]	$ 17,805,000
[1]	For discussion on the adjustments, see Note 2 - Restatement of Quarterly Financial Statements and Revision of Prior Period Financial statements.

Business and Basis of Presentat

Business and Basis of Presentation	9 Months Ended
	Jun. 30, 2014
Business and Basis of Presentation	Note 1 — Business and Basis of Presentation Business Asta Funding, Inc., together with its wholly owned significant operating subsidiaries Palisades Collection LLC, Palisades Acquisition XVI, LLC (“Palisades XVI”), VATIV Recovery Solutions LLC (“VATIV”), ASFI Pegasus Holdings, LLC (“APH”), Fund Pegasus, LLC (“Fund Pegasus”), GAR National Disability Advocates, LLC (“GAR National Disability”) (formerly known as AGR Disability Help Center, LLC) and other subsidiaries, not all wholly owned (collectively, the “Company”), is engaged in the business of purchasing, managing for its own account and servicing distressed consumer receivables, including charged-off receivables, semi-performing receivables and performing receivables. The primary charged-off receivables are accounts that have been written-off by the originators and may have been previously serviced by collection agencies. Semi-performing receivables are accounts where the debtor is currently making partial or irregular monthly payments, but the accounts may have been written-off by the originators. Performing receivables are accounts where the debtor is making regular monthly payments that may or may not have been delinquent in the past. Distressed consumer receivables are the unpaid debts of individuals to banks, finance companies and other credit providers. A large portion of the Company’s distressed consumer receivables are MasterCard®, Visa®, other credit card accounts, and telecommunication accounts which were charged-off by the issuers for non-payment. The Company acquires these portfolios at substantial discounts from their face values. The discounts are based on the characteristics (issuer, account size, debtor residence and age of debt) of the underlying accounts of each portfolio. Litigation related receivables are semi-performing investments whereby the Company is assigned the revenue stream from the proceeds received. The Company owns 80% of Pegasus Funding, LLC (“Pegasus”), which invests in funding personal injury claims and 80% of CBC Settlement Funding, LLC (“CBC”), which invests in structured settlements (see Note 6: Acquisition of CBC). GAR National Disability is a non-attorney advocacy group, which obtains and represents individuals nationwide in their claims for social security disability and supplemental security income benefits from the Social Security Administration. Basis of Presentation The condensed consolidated balance sheet as of June 30, 2014, the condensed consolidated statements of operations for the nine and three month periods ended June 30, 2014 and 2013, the condensed consolidated statements of comprehensive income (loss) for the nine and three month periods ended June 30, 2014 and 2013, the condensed consolidated statement of stockholders’ equity as of and for the nine months ended June 30, 2014 and 2013 and the condensed consolidated statements of cash flows for the nine month periods ended June 30, 2014 and 2013, are unaudited. The September 30, 2013 financial information included in this report has been extracted from our audited financial statements included in our Annual Report on Form 10-K for the fiscal year ended September 30, 2013. In the opinion of management, all adjustments (which include only normal recurring adjustments) necessary to present fairly our financial position at June 30, 2014 and September 30, 2013, the results of operations for the nine and three month periods ended June 30, 2014 and 2013 and cash flows for the nine month periods ended June 30, 2014 and 2013 have been made. The results of operations for the nine and three month periods ended June 30, 2014 and 2013 are not necessarily indicative of the operating results for any other interim period or the full fiscal year. Palisades XVI is a variable interest entity (“VIE”). Asta Funding, Inc. is considered the primary beneficiary because it has the power to direct the significant activities of the VIE via its ownership and service contract. Palisades XVI holds the Great Seneca portfolio valued at $21.6 million as of June 30, 2014. See Note 11-Debt, Non-Recourse Debt-Bank of Montreal Blue Bell Receivables I, LLC, Blue Bells Receivables II, LLC and Blue Bell Receivables III, LLC (the “Blue Bell Entities”) are VIEs. CBC is considered the primary beneficiary because it has the power to direct the significant activities of the VIEs via its ownership and service contract. It also has the rights to receive benefits from the collections that exceed the payments to the note holders. The Blue Bell Entities held structured settlements of $14.4 million and non-recourse notes payable of $13.0 million as of June 30, 2014. The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with Rule 10-01 of Regulation S-X promulgated by the Securities and Exchange Commission and therefore do not include all information and note disclosures required under generally accepted accounting principles. The Company suggests that these financial statements be read in conjunction with the financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the fiscal year ended September 30, 2013, filed with the Securities and Exchange Commission. The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates including management’s estimates of future cash flows and the resulting rates of return. Recently Issued Accounting Standards In May 2014, the Financial Accounting Standards Board (the “FASB”) issued an update to ASC 606, “Revenue from Contracts with Customers,” that will supersede virtually all existing revenue guidance. Under this update, an entity is required to recognize revenue upon transfer of promised goods or services to customers, in an amount that reflects the entitled consideration received in exchange for those goods or services. The guidance also requires additional disclosure about the nature, amount, timing, and uncertainty of revenue and cash flows arising from the customer contracts. This update is effective for annual reporting periods beginning after December 15, 2016, including interim periods within that reporting period. Early application is not permitted. We are currently evaluating the impact this update will have on our consolidated financial statements as well as the expected adoption method. In June 2014, the FASB issued ASU 2014-11, “Transfers and Servicing (Topic 860): Repurchase-to-Maturity Transactions, Repurchase Financings, and Disclosures.” The amendments in this ASU require two accounting changes. First, the amendments in this ASU change the accounting for repurchase-to maturity transactions to secured borrowing accounting. Second, for repurchase financing arrangements, the amendments require separate accounting for a transfer of a financial asset executed contemporaneously with a repurchase agreement with the same counterparty, which will result in secured borrowing accounting for the repurchase agreement. This ASU also includes new disclosure requirements. The accounting changes in this Update are effective for public business entities for the first interim or annual period beginning after December 15, 2014. An entity is required to present changes in accounting for transactions outstanding on the effective date as a cumulative-effect adjustment to retained earnings as of the beginning of the period of adoption. Earlier application for a public business entity is prohibited. The Company reviewed this ASU and determined that it did not have a material impact on its consolidated financial statements. Concentration of Credit Risk — Cash Cash balances are maintained at various high credit quality depository institutions and are insured by the Federal Deposit Insurance Corporation (“FDIC”). The Company believes it is not exposed to any significant credit risk for cash. Reclassifications Certain items in the three months and nine months ended June 30, 2013 condensed consolidated financial statements have been reclassified to conform to the current period’s presentation, primarily related to certain balance sheet and statement of operations items.

Restatement of Quarterly Financ

Restatement of Quarterly Financial Statements and Revision of Prior Period Financial Statements	9 Months Ended
	Jun. 30, 2014
Restatement of Quarterly Financial Statements and Revision of Prior Period Financial Statements	Note 2—Restatement of Quarterly Financial Statements and Revision of Prior Period Financial Statements Restatement of Quarterly Financial Statements for the Period Ended June 30, 2014 Our previously reported results for the quarter ended June 30, 2014, reported finance income on the interest method in accordance with FASB Accounting Standards Codification (“ASC”) 310-30, Receivables – Loans and Debt Securities Acquired with Deteriorated Credit Quality Revision of Prior Period Annual Financial Statements In addition, we identified pre-tax errors in prior annual periods related to the application of the interest method for consumer receivables acquired for liquidation and accounted for under ASC 310-30. During those prior annual periods, the Company had determined the effective yield for its distressed consumer receivable portfolios by analyzing actual cash flows versus the amount of cash flows expected to be collected over the life of the loan as opposed to performing this analysis using the current cash flow variations (i.e. actual versus estimated cash flows within a particular quarter). As disclosed in the detail that follows, this misstatement resulted in an increase in finance receivables of approximately $6.4 million, with a decrease in deferred taxes of approximately $2.7 million and a resulting increase to retained earnings of approximately $3.7 million in this Form 10-Q/A as of September 30, 2013. The impact of the misstatements in the prior years’ financial statements was not material to any of those years or interim periods, respectively, however, the cumulative effect of correcting all of the prior period misstatements in fiscal year 2014 would be material to our fiscal year 2014 consolidated financial statements. As such, consistent with the guidance in ASC Topic 250 Accounting Changes and Error Corrections In evaluating whether the previously issued financial statements were materially misstated, the Company applied SEC Staff Accounting Bulletin (SAB) No. 108, Considering the Effects of Prior Year Misstatements when Quantifying Misstatements in Current Year Financial Statements Under SAB No. 108, prior-year misstatements which, if corrected in the current year would be material, must be corrected by adjusting prior year financial statements, even though such correction previously was and continues to be immaterial to the prior-year financial statements. Correcting prior-year financial statements for such “immaterial misstatements” does not require previously filed reports to be amended. In accordance with accounting guidance presented in ASC 250-10 (SEC Staff Accounting Bulletin No. 99, Materiality), the Company assessed the materiality of the misstatements and concluded that they were not material to any of the Company’s previously issued annual or interim period financial statements. Due to the immaterial nature of the misstatement corrections, the cumulative adjustments required to correct the misstatements in the financial statements prior to the fiscal year ended September 30, 2013 are reflected in the revised stockholders’ equity as of September 30, 2013. The cumulative effect of those adjustments increased previously reported retained earnings by approximately $3.7 million. These adjustments also cumulatively impacted the following balance sheet line items as of June 30, 2014: ASTA FUNDING, INC. AND SUBSIDIARIES Condensed Consolidated Statements Balance Sheet June 30, 2014 As Reported Adjustments As Restated ASSETS Cash and cash equivalents $ 26,017,000 $ 0 $ 26,017,000 Available for sale investments 70,205,000 0 70,205,000 Consumer receivables acquired for liquidation (at net realizable value) 31,514,000 900,000 32,414,000 Structured settlements 35,892,000 0 35,892,000 Investment in personal injury claims 31,733,000 0 31,733,000 Due from third party collection agencies and attorneys 1,138,000 0 1,138,000 Furniture and equipment, net 656,000 0 656,000 Deferred income taxes 8,894,000 (803,000 ) 8,091,000 Goodwill 2,770,000 0 2,770,000 Other assets 4,990,000 0 4,990,000 Total assets $ 213,809,000 $ 97,000 $ 213,906,000 LIABILITIES AND STOCKHOLDERS’ EQUITY Other debt – CBC (including non-recourse notes payable amounting to $13.0 million) 27,434,000 0 27,434,000 Other liabilities 2,723,000 0 2,723,000 Income taxes payable 3,084,000 0 3,084,000 Total liabilities 33,241,000 0 33,241,000 Commitments and contingencies STOCKHOLDERS’ EQUITY Preferred stock, $0.01 par value; authorized 5,000,000; issued and outstanding - none — — — Common stock, $.01 par value, authorized 30,000,000 shares; issued and outstanding 12,985,739 130,000 0 130,000 Additional paid in capital 62,648,000 0 62,648,000 Retained earnings 118,306,000 97,000 118,403,000 Accumulated other comprehensive income 22,000 0 22,000 Non-controlling interest (538,000 ) 0 (538,000 ) Total stockholders’ equity 180,568,000 97,000 180,665,000 Total liabilities and stockholders’ equity $ 213,809,000 $ 97,000 $ 213,906,000 ASTA FUNDING, INC. AND SUBSIDIARIES Condensed Consolidated Statements of Income (Unaudited) The adjustments discussed above for applying the cost recovery method, net of related income tax benefit, resulted in an overstatement of net income of approximately $0.8 million for the three month period ended June 30, 2014. The restatement of the three month period ended June 30, 2014 is as follow: Three Months Ended June 30, 2014 As Reported Adjustments As Restated Revenues: Finance income on consumer receivables, net $ 6,652,000 $ (1,578,000 ) $ 5,074,000 Personal injury claims income 1,779,000 0 1,779,000 Unrealized gain on structured settlements 620,000 0 620,000 Interest income on structured settlements 786,000 0 786,000 Total revenues 9,837,000 (1,578,000 ) 8,259,000 Forgiveness of non-recourses debt 26,101,000 26,101,000 Other income (includes $116,000 accumulated other comprehensive income reclassification for unrealized net loss on available for sale securities) 336,000 0 336,000 36,274,000 (1,578,000 ) 34,696,000 Expenses: General and administrative 7,012,000 0 7,012,000 Interest expense 413,000 0 413,000 Impairments of consumer receivables acquired for liquidation 19,901,000 (310,000 ) 19,591,000 27,326,000 (310,000 ) 27,016,000 Income before income tax expense (benefit) 8,948,000 (1,268,000 ) 7,680,000 Income tax expense (includes tax benefit of $47,000 accumulated other comprehensive income reclassification for unrealized net loss on available for sale securities) 3,464,000 (491,000 ) 2,973,000 Net income 5,484,000 (777,000 ) 4,707,000 Less: net income attributable to non-controlling interest 20,000 0 20,000 Net income attributable to Asta Funding, Inc. $ 5,464,000 $ (777,000 ) $ 4,687,000 Net income per share attributable to Asta Funding, Inc.: Basic $ 0.42 $ (0.06 ) $ 0.36 Diluted $ 0.41 $ (0.06 ) $ 0.35 Weighted average number of shares outstanding: Basic 12,984,882 12,984,882 Diluted 13,214,703 13,214,703 The adjustments discussed above for applying the cost recovery method, net of related income tax benefit, resulted in an understatement of net loss of approximately $0.6 million for the three month period ended June 30, 2013. The restatement of the three month period ended June 30, 2013 is as follow: Three Months Ended June 30, 2013 As Reported Adjustments As Revised Revenues: Finance income on consumer receivables, net $ 10,003,000 $ (1,031,000 ) $ 8,972,000 Personal injury claims income 2,287,000 0 2,287,000 Total revenues 12,290,000 (1,031,000 ) 11,259,000 Other income (includes $17,000 accumulated other comprehensive income reclassification for unrealized net gain on available for sale securities) 378,000 0 378,000 12,668,000 (1,031,000 ) 11,637,000 Expenses: General and administrative 6,545,000 0 6,545,000 Interest expense 518,000 0 518,000 Impairments of consumer receivables acquired for liquidation 10,148,000 38,000 10,186,000 17,211,000 38,000 17,249,000 (Loss) before income tax (benefit) (4,543,000 ) (1,069,000 ) (5,612,000 ) Income tax (benefit) (includes tax expense of $5,000 accumulated other comprehensive income reclassification for unrealized net gain on available for sale securities) (1,859,000 ) (437,000 ) (2,296,000 ) Net loss (2,684,000 ) (632,000 ) (3,316,000 ) Less: net income attributable to non-controlling interest 53,000 0 53,000 Net (loss) attributable to Asta Funding, Inc. $ (2,737,000 ) $ (632,000 ) $ (3,369,000 ) Net (loss) per share attributable to Asta Funding, Inc.: Basic $ (0.21 ) $ (0.05 ) $ (0.26 ) Diluted $ (0.21 ) $ (0.05 ) $ (0.26 ) Weighted average number of shares outstanding: Basic 12,954,455 12,954,455 Diluted 12,954,455 12,954,455 The adjustments discussed above for applying the cost recovery method, net of related income tax benefit, resulted in an overstatement of net income of approximately $3.6 million for the nine month period ended June 30, 2014. The restatement of the nine month period ended June 30, 2014 is as follow: Nine Months Ended June 30, 2014 As Reported Adjustments As Restated Revenues: Finance income on consumer receivables, net $ 20,556,000 $ (5,764,000 ) $ 14,792,000 Personal injury claims income 5,724,000 0 5,724,000 Unrealized gain on structured settlements 1,440,000 0 1,440,000 Interest income on structured settlements 1,501,000 0 1,501,000 Total revenues 29,221,000 (5,764,000 ) 23,457,000 Forgiveness of non-recourses debt 26,101,000 0 26,101,000 Other income (includes $141,000 accumulated other comprehensive income reclassification for unrealized net lose on available for sale securities) 1,370,000 0 1,370,000 56,692,000 (5,764,000 ) 50,928,000 Expenses: General and administrative 20,517,000 0 20,517,000 Interest expense 820,000 0 820,000 Impairments of consumer receivables acquired for liquidation 19,901,000 (310,000 ) 19,591,000 41,238,000 (310,000 ) 40,928,000 Income before income tax expense (benefit) 15,454,000 (5,454,000 ) 10,000,000 Income tax expense (includes tax benefit of $57,000 accumulated other comprehensive income reclassifications for unrealized net loss on available for sale securities) 5,676,000 (1,868,000 ) 3,808,000 Net income 9,778,000 (3,586,000 ) 6,192,000 Less: net income attributable to non-controlling interest 483,000 0 483,000 Net income attributable to Asta Funding, Inc. $ 9,295,000 $ (3,586,000 ) $ 5,709,000 Net income per share attributable to Asta Funding, Inc.: Basic $ 0.72 $ (0.28 ) $ 0.44 Diluted $ 0.70 $ (0.27 ) $ 0.43 Weighted average number of shares outstanding: Basic 12,979,472 12,979,472 Diluted 13,208,015 13,208,015 The adjustments discussed above for applying the cost recovery method, net of related income tax benefit, resulted in an overstatement of net income of approximately $15,000 for the nine month period ended June 30, 2013. The restatement of the nine month period ended June 30, 2013 is as follow: Nine Months Ended June 30, 2013 As Reported Adjustments As Revised Revenues: Finance income on consumer receivables, net $ 26,756,000 $ (1,716,000 ) $ 25,040,000 Personal injury claims income 4,921,000 0 4,921,000 Total revenues 31,677,000 (1,716,000 ) 29,961,000 Other income (includes $192,000 accumulated other comprehensive income reclassification for unrealized net gain on available for sale securities) 1,628,000 0 1,628,000 33,305,000 (1,716,000 ) 31,589,000 Expenses: General and administrative 17,926,000 0 17,926,000 Interest expense 1,621,000 0 1,621,000 Impairments of consumer receivables acquired for liquidation 12,351,000 (1,646,000 ) 10,705,000 31,898,000 (1,646,000 ) 30,252,000 Income (loss) before income tax expense (benefit) 1,407,000 (70,000 ) 1,337,000 Income tax expense (includes tax expense of $76,000 accumulated other comprehensive income reclassification for unrealized net gain on available for sale securities) 498,000 (55,000 ) 443,000 Net income 909,000 (15,000 ) 894,000 Less: net income attributable to non-controlling interest 176,000 0 176,000 Net income attributable to Asta Funding, Inc. $ 733,000 $ (15,000 ) $ 718,000 Net income (loss) per share attributable to Asta Funding, Inc.: Basic $ 0.06 $ 0.00 $ 0.06 Diluted $ 0.06 $ (0.01 ) $ 0.05 Weighted average number of shares outstanding: Basic 12,946,521 12,946,521 Diluted 13,217,656 13,217,656 ASTA FUNDING, INC. AND SUBSIDIARIES Condensed Consolidated Statements of Cash Flows (Unaudited) The adjustments discussed above also resulted in changes to previously reported amounts in our consolidated statements of cash flows. The previously reported changes in operating assets and liabilities in the reconciliation of net income to cash provided by operating activities have been restated and revised as detailed in the tables below: Nine Months Ended June 30, 2014 As Reported Adjustments As Restated Cash flows from operating activities Net income $ 9,778,000 $ (3,586,000 ) $ 6,192,000 Adjustments to reconcile net income to net cash provided by operating activities: Depreciation and amortization 450,000 0 450,000 Deferred income taxes 1,095,000 (1,868,000 ) (773,000 ) Impairment of consumer receivables acquired for liquidation 19,901,000 (310,000 ) 19,591,000 Stock based compensation 1,290,000 0 1,290,000 Loss / (gain) on sale of available-for-sale securities 141,000 0 141,000 Structured settlements - accrued interest (1,475,000 ) 0 (1,475,000 ) Structured settlements – gains (1,440,000 ) 0 (1,440,000 ) Forgiveness of non-recourses debt (26,101,000 ) 0 (26,101,000 ) Changes in: Prepaid and income taxes receivable 1,496,000 0 1,496,000 Due from third party collection agencies and attorneys 31,000 0 31,000 Other assets (596,000 ) 0 (596,000 ) Income taxes payable 3,084,000 0 3,084,000 Other liabilities (119,000 ) 0 (119,000 ) Net cash provided by operating activities 7,535,000 (5,764,000 ) 1,771,000 Cash flows from investing activities Purchase of consumer receivables acquired for liquidation (3,702,000 ) 0 (3,702,000 ) Principal collected on receivables acquired for liquidation 10,186,000 5,764,000 15,950,000 Principal collected on receivables accounts represented by account sales 1,000 0 1,000 Purchase of available-for-sale securities (19,845,000 ) 0 (19,845,000 ) Proceeds from sale of available-for-sale securities 8,684,000 0 8,684,000 Cash paid for acquisition (net of cash acquired) (5,588,000 ) 0 (5,588,000 ) Investments in personal injury claims – advances (16,392,000 ) 0 (16,392,000 ) Investments in personal injury claims – receipts 20,417,000 0 20,417,000 Investment in structured settlements – advances (4,696,000 ) 0 (4,696,000 ) Investments in structured settlements – receipts 2,155,000 0 2,155,000 Net cash (used in) provided by investing activities (8,780,000 ) 5,764,000 (3,016,000 ) Cash flows from financing activities Proceeds from exercise of stock options 40,000 0 40,000 Changes in restricted cash 968,000 0 968,000 Distribution to non-controlling interest (837,000 ) 0 (837,000 ) Repayment of non-recourse debt (9,659,000 ) 0 (9,659,000 ) Borrowings of other debt 4,131,000 0 4,131,000 Repayments of other debt (2,560,000 ) 0 (2,560,000 ) Net cash used in financing activities (7,917,000 ) 0 (7,917,000 ) Net (decrease) increase in cash and cash equivalents (9,162,000 ) 0 (9,162,000 ) Cash and cash equivalents at beginning of period 35,179,000 0 35,179,000 Cash and cash equivalents at end of period $ 26,017,000 $ 0 26,017,000 Supplemental disclosure of cash flow information Cash paid for: Interest $ 678,000 $ 0 $ 678,000 Supplemental disclosures of non-cash investing and financing activities : Structured settlements $ 30,436,000 0 $ 30,436,000 Other debt – CBC 23,363,000 0 23,363,000 Retirement of treasury stock 17,805,000 0 17,805,000 Nine Months Ended June 30, 2013 As Reported Adjustments As Revised Cash flows from operating activities Net income $ 909,000 $ (15,000 ) $ 894,000 Adjustments to reconcile net income to net cash provided by operating activities: Depreciation and amortization 450,000 0 450,000 Deferred income taxes 85,000 (56,000 ) 29,000 Impairment of consumer receivables acquired for liquidation 12,351,000 (1,646,000 ) 10,705,000 Stock based compensation 1,498,000 0 1,498,000 Loss / (gain) on sale of available-for-sale securities (192,000 ) 0 (192,000 ) Changes in: Prepaid and income taxes receivable 382,000 0 382,000 Due from third party collection agencies and attorneys 802,000 0 802,000 Other assets (2,369,000 ) 0 (2,369,000 ) Other liabilities (1,104,000 ) 0 (1,104,000 ) Net cash provided by operating activities 12,812,000 (1,717,000 ) 11,095,000 Cash flows from investing activities Purchase of consumer receivables acquired for liquidation (3,340,000 ) 0 (3,340,000 ) Principal collected on receivables acquired for liquidation 14,850,000 1,717,000 16,567,000 Principal collected on receivables accounts represented by account sales 432,000 0 432,000 Purchase of available-for-sale securities (29,907,000 ) 0 (29,907,000 ) Proceeds from sale of available-for-sale securities 28,918,000 0 28,918,000 Proceeds from maturities of certificates of deposit 33,918,000 0 33,918,000 Investments in personal injury claims – advances (22,863,000 ) 0 (22,863,000 ) Investments in personal injury claims – receipts 9,162,000 0 9,162,000 Capital expenditures (725,000 ) 0 (725,000 ) Net cash (used in) provided by investing activities 30,445,000 1,717,000 32,162,000 Cash flows from financing activities Proceeds from exercise of stock options 103,000 0 103,000 Changes in restricted cash 21,000 0 21,000 Repayment of non-recourse debt (7,213,000 ) 0 (7,213,000 ) Dividends paid (1,290,000 ) 0 (1,290,000 ) Purchase of treasury stock (1,579,000 ) 0 (1,579,000 ) Net cash used in financing activities (9,958,000 ) 0 (9,958,000 ) Net (decrease) increase in cash and cash equivalents 33,299,000 0 33,299,000 Cash and cash equivalents at beginning of period 4,953,000 0 4,953,000 Cash and cash equivalents at end of period $ 38,252,000 $ 0 $ 38,252,000 Supplemental disclosure of cash flow information Cash paid for: Interest $ 1,645,000 0 $ 1,645,000

Principles of Consolidation

Principles of Consolidation	9 Months Ended
	Jun. 30, 2014
Principles of Consolidation	Note 3 — Principles of Consolidation The condensed consolidated financial statements include the accounts of the Company and its wholly owned and majority owned subsidiaries. All significant intercompany balances and transactions have been eliminated in consolidation.

Investments

Investments	9 Months Ended
	Jun. 30, 2014
Investments	Note 4 — Investments Available-for-Sale Investments classified as available-for-sale at June 30, 2014 and September 30, 2013, consist of the following: Amortized Unrealized Unrealized Fair June 30, 2014 $ 70,171,000 $ 292,000 $ (258,000 ) $ 70,205,000 September 30, 2013 $ 59,151,000 $ 27,000 $ (1,143,000 ) $ 58,035,000 The available-for-sale investments do not have any contractual maturities. The Company sold two investments during the first nine months of fiscal year 2014, with an aggregate realized loss of $141,000. In the first nine months of fiscal year 2013, the Company sold three investments with an aggregate realized gain of $192,000. The Company sold one investment during the three month period ended June 30, 2014, with a realized loss of $116,000. The Company sold one investment during the three month period ended June 30, 2013, with a realized gain of $17,000. At June 30, 2014, there were seven investments, five of which were in a net unrealized loss position. All of these securities are considered to be acceptable credit risks. Based on the evaluation of the available evidence, including recent changes in market rates and credit rating information, management believes the aggregate decline in fair value for these instruments is temporary. In addition, management has the ability to hold these investment securities for a period of time sufficient to allow for an anticipated recovery or maturity. Should the impairment of any of these securities become other than temporary, the cost basis of the investment will be reduced and the resulting loss recognized in net income in the period in which the other-than-temporary impairment is identified.

Consumer Receivables Acquired f

Consumer Receivables Acquired for Liquidation (Restated and Revised)	9 Months Ended
	Jun. 30, 2014
Consumer Receivables Acquired for Liquidation (Restated and Revised)	Note 5 — Consumer Receivables Acquired for Liquidation (Restated and Revised) Accounts acquired for liquidation are stated at their net estimated realizable value and consist primarily of defaulted consumer loans to individuals primarily throughout the United States. The Company may account for its investments in consumer receivable portfolios, using either: • the interest method; or • the cost recovery method. The Company accounts for certain of its investments in finance receivables using the interest method under the guidance of ASC 310-30. Under the guidance of ASC 310-30, static pools of accounts are established. These pools are aggregated based on certain common risk criteria. Each static pool is recorded at cost and is accounted for as a single unit for the recognition of income, principal payments and loss provision. Effective October 1, 2013, due to the substantial reduction of portfolios reported under the interest method, and the ability to reasonably estimate cash collections required to account for those portfolios under the interest method the Company concluded the cost recovery method is the appropriate accounting method under the circumstances. Although the Company has switched to the cost recovery method on its current inventory of portfolios, the Company must still analyze a portfolio upon acquisition and once a static pool is established for a quarter, individual accounts receivable were not added to the pool (unless replaced by the seller) or removed from the pool (unless sold or returned to the seller). ASC 310-30 requires that the excess of the contractual cash flows over expected cash flows not be recognized as an adjustment of revenue or expense or on the balance sheet. ASC 310-30 initially freezes the internal rate of return, referred to as IRR, estimated when the accounts receivable are purchased, as the basis for subsequent impairment testing. Significant increases in actual or expected future cash flows may be recognized prospectively through an upward adjustment of the IRR over a portfolio’s remaining life. Any increase to the IRR then becomes the new benchmark for impairment testing. Rather than lowering the estimated IRR if the collection estimates are not received or projected to be received, the carrying value of a pool would be impaired, or written down to maintain the then current IRR. Under the interest method, income is recognized on the effective yield method based on the actual cash collected during a period and future estimated cash flows and timing of such collections and the portfolio’s cost. Material variations of cash flow estimates are recorded in the quarter such variations are determined. The estimated future cash flows are reevaluated quarterly. The Company uses the cost recovery method when collections on a particular pool of accounts cannot be reasonably predicted. Under the cost recovery method, no income is recognized until the cost of the portfolio has been fully recovered. A pool can become fully amortized (zero carrying balance on the balance sheet) while still generating cash collections. In this case, all cash collections are recognized as revenue when received. The Company’s extensive liquidating experience is in the field of distressed credit card receivables, telecommunication receivables, consumer loan receivables, retail installment contracts, consumer receivables, and auto deficiency receivables. The Company will analyze a portfolio to determine if the interest method is appropriate for accounting for asset acquisitions within these classes of receivables when it believes it can reasonably estimate the timing of the cash flows. In those situations where the Company diversifies its acquisitions into other asset classes and the Company does not possess the same expertise, or the Company cannot reasonably estimate the timing of the cash flows with an appropriate degree of precision, the Company utilizes the cost recovery method of accounting for those portfolios of receivables. At June 30, 2014, all of the portfolios are accounted for on the cost recovery method, of which $21.6 million is concentrated in one portfolio, the remaining value of a $300 million portfolio purchase in March 2007 (the “Portfolio Purchase”). The Company aggregates portfolios of receivables acquired sharing specific common characteristics which were acquired within a given quarter. The Company has considered for aggregation portfolios of accounts, purchased within the same fiscal quarter, that generally meet the following characteristics: • same issuer/originator; • same underlying credit quality; • similar geographic distribution of the accounts; • similar age of the receivable; and • same type of asset class (credit cards, telecommunication, etc.) The Company uses a variety of qualitative and quantitative factors to estimate collections and the timing thereof. This analysis includes the following variables: • the number of collection agencies previously attempting to collect the receivables in the portfolio; • the average balance of the receivables, as higher balances might be more difficult to collect while low balances might not be cost effective to collect; • the age of the receivables, as older receivables might be more difficult to collect or might be less cost effective. On the other hand, the passage of time, in certain circumstances, might result in higher collections due to changing life events of some individual debtors; • past history of performance of similar assets; • time since charge-off; • payments made since charge-off; • the credit originator and its credit guidelines; • our ability to analyze accounts and resell accounts that meet our criteria for resale; • the locations of the debtors, as there are better states to attempt to collect in and ultimately the Company has better predictability of the liquidations and the expected cash flows. Conversely, there are also states where the liquidation rates are not as favorable and that is factored into our cash flow analysis; • financial condition of the seller; • jobs or property of the debtors found within portfolios. In the Company’s business model, this is of particular importance as debtors with jobs or property are more likely to repay their obligation and conversely, debtors without jobs or property are less likely to repay their obligation; and • the ability to obtain timely customer statements from the original issuer. The Company obtains and utilizes, as appropriate, input, including, but not limited to, monthly collection projections and liquidation rates, from third party collection agencies and attorneys, as a further evidentiary matter, to assist in evaluating and developing collection strategies and in evaluating and modeling the expected cash flows for a given portfolio. The following tables summarize the changes in the balance sheet account of consumer receivables acquired for liquidation during the following periods: RESTATED For the Nine Months Ended June 30, 2014 Interest Cost Recovery Total Balance, beginning of period $ 8,071,000 $ 49,829,000 $ 57,900,000 Balance transferred to cost recovery – prior period adjustment (1,304,000 ) 1,304,000 — Adjustment for misapplication of the interest method to prior periods 6,354,000 — 6,354,000 Balance beginning of period, as restated 13,121,000 51,133,000 64,254,000 Reclassification of interest method portfolios to cost recovery method (13,121,000 ) 13,121,000 — Acquisition of receivable portfolios — 3,702,000 3,702,000 Net cash collections from collection of consumer receivables acquired for liquidation — (30,739,000 ) (30,739,000 ) Net cash collections represented by account sales of consumer receivables acquired for liquidation — (4,000 ) (4,000 ) Impairment — (19,591,000 ) (19,591,000 ) Finance income recognized (1) — 14,792,000 14,792,000 Balance, end of period $ 0 $ 32,414,000 $ 32,414,000 Finance income as a percentage of collections 0 % 48.1 % 48.1 % (1) Includes $14.8 million derived from fully amortized pools. REVISED For the Nine Months Ended June 30, 2013 Interest Cost Recovery Total Balance, beginning of period $ 12,326,000 $ 74,561,000 $ 86,887,000 Balance transferred to cost recovery – prior period adjustment (2,692,000 ) 2,692,000 — Adjustment for misapplication of the interest method to prior periods 5,852,000 1,500,000 7,352,000 Balance beginning of period, as revised 15,486,000 78,753,000 94,239,000 Acquisition of receivable portfolios — 3,340,000 3,340,000 Net cash collections from collection of consumer receivables acquired for liquidation (24,832,000 ) (15,182,000 ) (40,014,000 ) Net cash collections represented by account sales of consumer receivables acquired for liquidation (977,000 ) (1,047,000 ) (2,024,000 ) Impairment (556,000 ) (10,149,000 ) (10,705,000 ) Finance income recognized (1) 21,765,000 3,275,000 25,040,000 Balance, end of period $ 10,886,000 $ 58,990,000 $ 69,876,000 Finance income as a percentage of collections 84.3 % 20.2 % 59.6 % (1) Includes $20.4 million derived from fully amortized pools. RESTATED For the Three Months Ended June 30, 2014 Interest Cost Recovery Total Balance, beginning of period $ 6,970,000 $ 45,101,000 $ 52,071,000 Balance transferred to cost recovery - prior period adjustment (989,000 ) 989,000 — Adjustment for misapplication of the interest method to prior periods (5,981,000 ) 8,149,000 2,168,000 Balance beginning of period, as restated — 54,239,000 54,239,000 Acquisition of receivable portfolio — 2,733,000 2,733,000 Net cash collections from collection of consumer receivables acquired for liquidation — (10,039,000 ) (10,039,000 ) Net cash collections represented by account sales of consumer receivables acquired for liquidation — (2,000 ) (2,000 ) Impairment — (19,591,000 ) (19,591,000 ) Finance income recognized (1) — 5,074,000 5,074,000 Balance, end of period $ 0 $ 32,414,000 $ 32,414,000 Finance income as a percentage of collections 0 % 50.5 % 50.5 % (1) Includes $5.1 million derived from fully amortized pools. REVISED For the Three Months Ended June 30, 2013 Interest Cost Recovery Total Balance, beginning of period $ 6,813,000 $ 68,011,000 $ 74,824,000 Balance transferred to cost recovery – prior period adjustment (2,025,000 ) 2,025,000 — Adjustment for misapplication of the interest method to prior periods 7,539,000 812,000 8,351,000 Balance beginning of period, as revised 12,327,000 70,848,000 83,175,000 Acquisition of receivable portfolio — 3,340,000 3,340,000 Net cash collections from collection of consumer receivables acquired for liquidation (7,937,000 ) (5,481,000 ) (13,418,000 ) Net cash collections represented by account sales of consumer receivables acquired for liquidation (970,000 ) (1,037,000 ) (2,007,000 ) Impairment (37,000 ) (10,149,000 ) (10,186,000 ) Finance income recognized (1) 7,503,000 1,469,000 8,972,000 Balance, end of period $ 10,886,000 $ 58,990,000 $ 69,876,000 Finance income as a percentage of collections 84.2 % 22.5 % 58.2 % (1) Includes $7.3 million derived from fully amortized pools. The following tables summarize the changes in the balance sheet account of consumer receivables acquired for liquidation during the following periods: Accretable yield represents the amount of finance income the Company can expect to generate over the remaining life of its existing portfolios based on estimated future net cash flows. Changes in accretable yield for the nine month and three month periods ended June 30, 2014 and 2013 are as follows: RESTATED REVISED Nine Months Nine Months June 30, 2013 Balance at beginning of period $ 7,679,000 $ 13,508,000 Transfer to cost recovery (7,679,000 ) — Finance income recognized on finance receivables, net — (21,765,000 ) Reclassifications from nonaccretable difference (1) — 17,577,000 Balance at end of period $ 0 $ 9,320,000 Three Months Ended June 30, 2014 Three Months Ended June 30, 2013 Balance at beginning of period $ — $ 10,439,000 Finance income recognized on finance receivables, net — (7,503,000 ) Reclassifications from nonaccretable difference (1) — 6,384,000 Balance at end of period $ — $ 9,320,000 (1) Includes portfolios that became zero basis during the period, removal of zero basis portfolios from the accretable yield calculation and other immaterial impairments and accretions based on the extension of certain collection curves. During the nine and three month periods ended June 30, 2014, the Company purchased $53.0 million and $35.9 million, respectively, of face value portfolios, at a cost of $3.7 million and $2.7 million, respectively. During both the nine and three month periods ended June 30, 2013, the Company purchased $53.5 million of face value receivables at a cost of $3.3 million. The following table summarizes collections on a gross basis as received by the Company’s third-party collection agencies and attorneys, less commissions and direct costs for the nine and three month periods ended June 30, 2014 and 2013, respectively. For the Nine Months Ended June 30, 2014 2013 Gross collections (1) $ 51,884,000 $ 66,371,000 Commissions and fees (2) 21,141,000 24,333,000 Net collections $ 30,743,000 $ 42,038,000 For the Three Months Ended June 30, 2014 2013 Gross collections (1) $ 18,192,000 $ 23,432,000 Commissions and fees (2) 8,151,000 8,007,000 Net collections $ 10,041,000 $ 15,425,000 (1) Gross collections include: collections from third-party collection agencies and attorneys, collections from in-house efforts, and collections represented by account sales. (2) Commissions and fees are the contractual commission earned by third party collection agencies and attorneys, and direct costs associated with the collection effort, generally court costs. Includes a 3% fee charged by a servicer on gross collections received by the Company in connection with one portfolio. Such arrangement was consummated in December 2007. The fee is charged for asset location, skip tracing and ultimately suing debtors in connection with this portfolio purchase.

Acquisition of CBC as restated

Acquisition of CBC as restated and revised	9 Months Ended
	Jun. 30, 2014
Acquisition of CBC as restated and revised	Note 6 — Acquisition of CBC as restated and revised On December 31, 2013, the Company acquired 80% ownership of CBC and its affiliate, CBC Management Services, LLC, for approximately $5.9 million. In addition, the Company will provide financing to CBC of up to $5 million. The 20% non-controlling interests are held by two of the original owners of CBC. The fair value of non-controlling interests at the acquisition date was determined to be immaterial. The non-controlling interests will not be entitled to any distributions from CBC until the Company receives distributions of $2,337,190. The non-controlling interests are entitled to two of the five seats of CBC’s Board of Managers and have the right to approve certain material transactions of CBC. The non-controlling interest owners are employed by CBC. If the employment is terminated, other than for cause, CBC could be required to purchase their membership interest in CBC. If the employment is terminated for any other reason, CBC has the right to purchase their non-controlling interests. The purchase price would be determined by a third party appraiser and is payable over a period of time. The fair value of the put right was determined to be $0 at December 31, 2013. No re-measurement is required at June 30, 2014 as it is not probable that the put option will become redeemable. The acquisition provides the Company with the opportunity to further diversify its portfolio. CBC purchases periodic structured settlements and annuity policies from individuals in exchange for a lump sum payment. The Company accounted for this purchase in accordance with ASC Topic 805 “Business Combinations”. Under this guidance, an entity is required to recognize the assets acquired and liabilities assumed and the consideration given at their fair value on the acquisition date. The following table summarizes the fair value of the assets acquired and the liabilities assumed as of the December 31, 2013 acquisition date: Cash $ 351,000 Structured settlements 30,436,000 Other assets 11,000 Other liabilities (356,000 ) Other debt (see Note 12: Other debt – CBC (including non-recourse notes payable amounting to $13.8 million) (25,863,000 ) Total identifiable net assets acquired 4,579,000 Goodwill (see Note 10: Goodwill) 1,360,000 Purchase Price $ 5,939,000 As the transaction consummated on December 31, 2013, there were no actual operational results that were attributable to the Company in the first quarter of fiscal year 2014 and the comparable period of fiscal year 2013. Total revenues, as reported, for the nine months ended June 30, 2014, were $23,457,000. On a pro forma basis, total revenues for the nine months ended June 30, 2014 would have been $25,092,000. Net income attributable to Asta Funding, Inc., as reported, for the nine months ended June 30, 2014, was $5,709,000. On a pro forma basis, net income attributable to Asta Funding, Inc. for the nine months ended June 30, 2014 would have been $5,751,000. Total revenues, as reported, for the nine months ended June 30, 2013, were $29,961,000. On a pro forma basis, total revenues for the same prior year period would have been $32,881,000. Net income attributable to Asta Funding, Inc., as reported, for the nine months ended June 30, 2013 was $718,000. On a pro forma basis, net income attributable to Asta Funding, Inc. would have been $697,000 for the same prior year period. The Company, through CBC, earned $1.4 million and $2.9 million in settlement income during the three and nine month periods ended June 30, 2014. The Company had a net invested balance of $35.9 million in structured settlements as of June 30, 2014. The collections yielded a net loss attributable to non-controlling interest of $34,000 and $13,000 for the three and nine month periods, respectively, ended June 30, 2014.

Structured Settlements

Structured Settlements	9 Months Ended
	Jun. 30, 2014
Structured Settlements	Note 7 — Structured Settlements CBC purchases periodic payments under structured settlements and annuity policies from individuals in exchange for a lump sum payment. The Company elected to carry the structured settlements at fair value. Unearned income on structured settlements is recognized as interest income using the effective interest method over the life of the related structured settlement. Changes in fair value are recorded in unrealized gain (loss) on structured settlements in the Company’s statements of operations. Structured settlements consist of the following as of June 30, 2014: Maturity value $ 52,551,000 Unearned income (16,659,000 ) Net carrying value $ 35,892,000 Encumbrances on structured settlements as of June 30, 2014 are: Notes payable secured by settlement receivables with principal and interest outstanding payable until June 2025 (1) $ 2,599,000 Notes payable secured by settlement receivables with principal and interest outstanding payable until August 2026 (1) 5,498,000 Notes payable secured by settlement receivables with principal and interest outstanding payable until April 2032 (1) 4,894,000 $15,000,000 revolving line of credit (1) 14,443,000 Encumbered structured settlements 27,434,000 Structured settlements not encumbered 8,458,000 Total structured settlements $ 35,892,000 (1) See Note 12 — Other Debt — CBC At June 30, 2014, the expected cash flows of structured settlements based on maturity value are as follows: September 30, 2014 (three months remaining) $ 1,101,000 September 30, 2015 4,309,000 September 30, 2016 4,469,000 September 30, 2017 3,977,000 September 30, 2018 3,187,000 Thereafter 35,508,000 Total $ 52,551,000

Other Investments

Other Investments	9 Months Ended
	Jun. 30, 2014
Other Investments	Note 8 — Other Investments Personal Injury Clai ms Pegasus purchases interests in personal injury claims from claimants who are a party to personal injury litigation. Pegasus advances to each claimant funds on a non-recourse basis at an agreed upon interest rate, in anticipation of a future settlement. The interest in each claim purchased by Pegasus consists of the right to receive, from such claimant, part of the proceeds or recoveries which such claimant receives by reason of a settlement, judgment or award with respect to such claimant’s claim. The Company, through Pegasus, earned $1.7 million and $5.7 million, in interest and fees during the three and nine month periods ending June 30, 2014, respectively, compared to $2.3 million and $4.9 million, respectively, during the three and nine month periods ending June 30, 2013. The Company had a net invested balance of $31.7 million and $35.8 million on June 30, 2014 and September 30, 2013, respectively. The collections yielded net income attributable to non-controlling interest of $53,000 and $496,000 for the three and nine month periods ended June 30, 2014, respectively, compared to $53,000 and $176,000 for the three and nine month periods ended June 30, 2013, respectively. The reserve for bad debts is recorded based upon the historical trend for write off in the personal injury financing industry, the aging of the claims and other factors that could impact recoverability. Pegasus records reserves for bad debts, which, at June 30, 2014, amounted to $2.1 million as follows: Nine Months Three Months Balance at beginning of period $ 2,248,000 $ 1,916,000 Provisions for losses 955,000 756,000 Write offs (1,153,000 ) (622,000 ) Balance at end of period $ 2,050,000 $ 2,050,000 Matrimonial Claims (included in Other Assets) On May 18, 2012, the Company formed BP Case Management, LLC (“BPCM”), a joint venture with California-based Balance Point Divorce Funding, LLC (“BP Divorce Funding”). BPCM provides non-recourse funding to a spouse in a matrimonial action. The Company provided a $1.0 million revolving line of credit to partially fund BP Divorce Funding’s operations, with such loan bearing interest at the prevailing prime rate, with an initial term of twenty-four months. The contract term has been extended an additional six months to October 2014. The revolving line of credit is collateralized by BP Divorce Funding’s profit share in BPCM and other assets. As of June 30, 2014, the Company’s investment in cases through BPCM was approximately $2.3 million, against which a $0.5 million reserve has been established. The investment in matrimonial cases was $1.6 million at September 30, 2013. There was no income recognized in the first nine months of fiscal years 2014 and 2013.

Furniture & Equipment

Furniture & Equipment	9 Months Ended
	Jun. 30, 2014
Furniture & Equipment	Note 9 — Furniture & Equipment Furniture and equipment consist of the following as of the dates indicated: June 30, September 30, Furniture $ 310,000 $ 310,000 Equipment 3,622,000 3,622,000 Software 1,211,000 1,211,000 Leasehold improvements 99,000 99,000 5,242,000 5,242,000 Less accumulated depreciation 4,586,000 4,136,000 Balance, end of period $ 656,000 $ 1,106,000

Goodwill

Goodwill	9 Months Ended
	Jun. 30, 2014
Goodwill	Note 10 — Goodwill Goodwill represents the excess of the purchase price of an acquired business over the fair value of amounts assigned to assets acquired and liabilities assumed. Goodwill is reviewed for impairment if events or circumstances indicate that impairment may be present. Any excess in carrying value over the estimated fair value is recorded as impairment loss and charged to results of operations in the period such determination is made. For each of the nine and three month periods ended June 30, 2014 and 2013, management has determined that there was no impairment loss required to be recognized in the carrying value of goodwill. The goodwill balances at September 30, 2013 and June 30, 2014 are as follows: Balance, September 30, 2013 $ 1,410,000 Goodwill from acquisition (see Note 6: Acquisition of CBC) 1,360,000 Balance, June 30, 2014 $ 2,770,000

Non-Recourse Debt - Bank of Mon

Non-Recourse Debt - Bank of Montreal ("BMO")	9 Months Ended
	Jun. 30, 2014
Non-Recourse Debt - Bank of Montreal ("BMO")	Note 11 — Non-Recourse Debt — Bank of Montreal (“BMO”) In March 2007, Palisades XVI borrowed approximately $227 million under the Receivables Financing Agreement (“RFA”), as amended in July 2007, December 2007, May 2008, February 2009, October 2010 and August 2013 from BMO, in order to finance a $300 million portfolio purchase in March 2007 (the “Portfolio Purchase”). The original term of the agreement was three years. This term was extended by each of the Second, Third, Fourth and Fifth Amendments and the most recent agreement signed in August 2013. On August 7, 2013, Palisades XVI, a 100% owned bankruptcy remote subsidiary, entered into a Settlement Agreement and Omnibus Amendment (the “Settlement Agreement”) with BMO as an amendment to the RFA. In consideration for a $15 million prepayment funded by the Company, BMO agreed to significantly reduce minimum monthly collection requirements and the interest rate. If and when BMO receives the next $15 million of collections from the Portfolio Purchase or from voluntary prepayments by Asta Funding, Inc., less certain credits for payments made prior to the consummation of the Settlement Agreement (the “Remaining Amount”), Palisades XVI and its affiliates would be automatically released from liability in connection with the RFA (subject to customary exceptions). A condition to the release was Palisade XVI’s agreement to grant BMO, as of the time of the payment of the Remaining Amount, the right to receive 30% of net collections from the Portfolio Purchase once Palisades XVI has received from future net collections, the sum of $15 million plus voluntary prepayments included in the payment of the Remaining Amount (the “Income Interest”). The Company estimated the Income Interest to be between $0 and $1.4 million. However, the Company believes that no amount would be incurred because of the continued deterioration of collections from the Portfolio Purchase. On June 3, 2014, Palisades XVI paid the Remaining Amount. The final principal payment of $2,901,199 included a voluntary prepayment of $1,866,036 provided from funds of the Company. Accordingly, Palisades XVI will be entitled to receive $16.9 million of future collections from the Portfolio Purchase before BMO is entitled to receive any payments with respect to its Income Interest. With the payment of the Remaining Amount and upon completion of the documents granting the Palisades XVI Income Interest, including a written confirmation from BMO that the obligation has been paid in full, Palisades XVI has been released from further debt obligations from the RFA. The Company has recorded as other income, forgiveness of non-recourse debt, in the amount of approximately $26.1 million in the third quarter of fiscal year 2014. Bank Hapoalim B.M. (“Bank Hapoalim”) Line of Credit On May 2, 2014, the Company obtained a $20 million line of credit facility from Bank Hapoalim, pursuant to a Loan Agreement (the “Loan Agreement”) among the Company and its subsidiary, Palisades Collection, LLC, as borrowers, and Bank Hapoalim, as agent and lender. The Loan Agreement provides for a $20.0 million committed line of credit and an accordion feature providing an increase in the line of credit of up to $30 million, at the discretion of the lenders. The facility is for a term of three years at an interest rate of either LIBOR plus 275 basis points or prime, at the Company’s option. The Loan Agreement includes covenants that require the Company to maintain a minimum net worth of $150 million and pay an unused line fee. The facility is secured pursuant to a Security Agreement (“Security Agreement”) among the parties to the Loan Agreement. As of June 30, 2014, the Company has not used this facility.

Other Debt - CBC

Other Debt - CBC	9 Months Ended
	Jun. 30, 2014
Other Debt - CBC	Note 12 — Other Debt — CBC The Company assumed $25.9 million of debt related to the CBC acquisition (see Note 6 — Acquisition of CBC) on December 31, 2013. On the same date, the Company paid down $2.5 million of the debt. On March 27, 2014, CBC entered into an amendment whereby it increased its revolving line of credit from $12.5 million to $15.0 million, the interest rate floor was reduced from 5.5% to 4.75% and the commitment was extended to February 28, 2015. The amendment also included changes in carrier concentration ratios and removal of the personal guarantees of the general managers and non-controlling interest partners. As of June 30, 2014, the debt amounted to $27.4 million, which consists of a $14.4 million drawdown from a line of credit ($0.6 million available) from an institutional source and $13.0 million notes issued by entities 100%-owned and consolidated by CBC. These entities are bankruptcy-remote entities created to issue notes secured by structured settlements. The following table details the other debt at June 30, 2014: Interest Rate June 30, Notes payable with varying monthly installments: Notes payable secured by settlement receivables with principal and interest outstanding payable until June 2025 8.75 % $ 2,599,000 Notes payable secured by settlement receivables with principal and interest outstanding payable until August 2026 7.25 % 5,498,000 Notes payable secured by settlement receivables with principal and interest outstanding payable until April 2032 7.125 % 4,894,000 Subtotal notes payable 12,991,000 $15,000,000 revolving line of credit expiring on February 28, 2015 4.75 % 14,443,000 Total debt – CBC $ 27,434,000 On July 15, 2014, CBC entered into an amendment whereby it increased its revolving line of credit from $15.0 million to $20.0 million and the maturity date was changed to December 31, 2014.

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Jun. 30, 2014
Commitments and Contingencies	Note 13 — Commitments and Contingencies Employment Agreements In January 2007, the Company entered into an employment agreement (the “Employment Agreement”) with Gary Stern, its Chairman, President and Chief Executive, which expired on December 31, 2009. This Employment Agreement was not renewed and Mr. Stern is continuing in his current roles at the discretion of the Board of Directors until a new agreement is signed. The two CBC operating principals entered into renewable two-year employment contracts at the time of acquisition (see Note 6, Acquisition of CBC). Leases The Company leases its facilities in Englewood Cliffs, New Jersey, Houston, Texas, New York, New York and Conshohocken, Pennsylvania. Please refer to the Company’s consolidated financial statements and notes thereto in our Annual Report on Form 10-K for the fiscal year ended September 30, 2013, as filed with the Securities and Exchange Commission, for additional information. CBC is a party to a lease agreement for a facility located in Conshohocken, Pennsylvania. The lease expires in August 2014. CBC is not renewing the lease. Rather it is planning on relocating to a different (leased) facility within the same town. Litigation In the ordinary course of its business, the Company is involved in numerous legal proceedings. The Company regularly initiates collection lawsuits, using its network of third party law firms, against consumers. Also, consumers occasionally initiate litigation against the Company, in which they allege that the Company has violated a federal or state law in the process of collecting their account. The Company does not believe that these matters are material to its business or financial condition. The Company is not involved in any material litigation in which it is a defendant.

Finance Income Recognition, Imp

Finance Income Recognition, Impairments, and Commissions and Fees (Restated and Revised)	9 Months Ended
	Jun. 30, 2014
Finance Income Recognition, Impairments, and Commissions and Fees (Restated and Revised)	Note 14 — Finance Income Recognition, Impairments, and Commissions and Fees (Restated and Revised) Income Recognition The Company accounts for certain of its investments in finance receivables using the interest method under the guidance of ASC 310-30. Under the guidance of ASC 310-30, static pools of accounts are established. These pools are aggregated based on certain common risk criteria. Each static pool is recorded at cost and is accounted for as a single unit for the recognition of income, principal payments and loss provision. Effective October 1, 2013, due to the substantial reduction of portfolios reported under the interest method, and the ability to reasonably estimate cash collections required to account for those portfolios under the interest method the Company concluded the cost recovery method is the appropriate accounting method under the circumstances. Although the Company has switched to the cost recovery method on its current inventory of portfolios, the Company must still analyze a portfolio upon acquisition and once a static pool is established for a quarter, individual receivable accounts are not added to the pool (unless replaced by the seller) or removed from the pool (unless sold or returned to the seller). ASC 310 requires that the excess of the contractual cash flows over expected cash flows not be recognized as an adjustment of revenue or expense or on the balance sheet. For portfolios accounted for using the interest method, ASC 310-30 initially freezes the internal rate of return, referred to as IRR, estimated when the accounts receivable are purchased, as the basis for subsequent impairment testing. Significant increases in actual or expected future cash flows may be recognized prospectively through an upward adjustment of the IRR over a portfolio’s remaining life. Any increase to the IRR then becomes the new benchmark for impairment testing. Rather than lowering the estimated IRR if the collection estimates are not received or projected to be received, the carrying value of a pool would be impaired, or written down to maintain the then current IRR. Under the interest method, income is recognized on the effective yield method based on the actual cash collected during a period and future estimated cash flows and timing of such collections and the portfolio’s cost. Material variations of cash flow estimates are recorded in the quarter such variations are determined. The estimated future cash flows are reevaluated quarterly. Finance income is recognized on cost recovery portfolios after the carrying value has been fully recovered through collections or amounts written down. The Company accounts for its investments in personal injury claims at an agreed upon interest rate, in anticipation of a future settlement. The interest purchased by Pegasus in each claim consists of the right to receive from such claimant part of the proceeds or recoveries which such claimant receives by reason of a settlement, judgment or reward with respect to such claimant’s claim. Open case revenue is estimated, recognized and accrued at a rate based on the expected realization and underwriting guidelines and facts and circumstances for each individual case. These personal injury claims are non-recourse. When a case is closed and the cash is received for the advance provided to a claimant, income is recognized based upon the contractually agreed upon interest rate, and, if applicable, adjusted for any changes due to a settled amount and fees charged to the claimant. The funding of BPCM matrimonial actions is on a non-recourse basis. BPCM income is recognized under the cost recovery method. Impairments As previously discussed, the Company has switched from the interest method to the cost recovery method as of October 1, 2013 on its current inventory of portfolios. In accordance with ASC 310-30, which provides guidance on how to account for differences between contractual and expected cash flows from an investor’s initial investment in loans or debt securities acquired in a transfer if those differences are attributable, at least in part, to credit quality, increases in expected cash flows are recognized prospectively through an adjustment of the internal rate of return while decreases in expected cash flows are recognized as impairments. ASC 310-30 makes it more likely that impairment losses and accretable yield adjustments for portfolios’ performances which exceed original collection projections will be recorded, as all downward revisions in collection estimates will result in impairment charges, given the requirement that the IRR of the affected pool be held constant. If it is determined a portfolio accounted for on the cost recovery method will not recover the current book value of the portfolio, an impairment would be recorded. Impairments of $10.2 million were recorded in the three month period ended June 30, 2013, $19.6 million in the three and nine months ended June 30, 2014 and $10.7 million in the nine months ended June 30, 2013. The Company’s analysis of the timing and amount of cash flows to be generated by our portfolio purchases are based on the following attributes: • the type of receivable, the location of the debtor and the number of collection agencies previously attempting to collect the receivables in the portfolio. The Company has found that there are better states to try to collect receivables and it factors in both better and worse states when establishing its initial cash flow expectations. • the average balance of the receivables influences our analysis in that lower average balance portfolios tend to be more collectible in the short-term and higher average balance portfolios are more appropriate for our law suit strategy and thus yield better results over the longer term. As the Company has significant experience with both types of balances, it is able to factor these variables into our initial expected cash flows; • the age of the receivables, the number of days since charge-off, any payments since charge-off, and the credit guidelines of the credit originator also represent factors taken into consideration in our estimation process. For example, older receivables might be more difficult and/or require more time and effort to collect; • past history and performance of similar assets acquired. As the Company purchase portfolios of like assets, it accumulates a significant historical data base on the tendencies of debtor repayments and factor this into our initial expected cash flows; • the Company’s ability to analyze accounts and resell accounts that meet its criteria; • jobs or property of the debtors found within portfolios. With our business model, this is of particular importance. Debtors with jobs or property are more likely to repay their obligation through the lawsuit strategy and, conversely, debtors without jobs or property are less likely to repay their obligation. The Company believes that debtors with jobs or property are more likely to repay because courts have mandated the debtor must pay the debt. Ultimately, the debtor with property will pay to clear title or release a lien. The Company also believes that these debtors generally might take longer to repay and that is factored into our initial expected cash flows; and • credit standards of the issuer. The Company believes it has significant experience in acquiring certain distressed consumer receivables portfolios at a significant discount to the amount actually owed to the underlying debtors. The Company acquires these portfolios only after both qualitative and quantitative analyses of the underlying receivables are performed and a calculated purchase price is paid so that we believe our estimated cash flow offers us an adequate return on our acquisition costs after servicing expense. Additionally, when considering larger portfolio purchases of accounts, or portfolios from issuers with whom the Company has limited experience, it has the added benefit of soliciting its third party collection agencies and attorneys for their input on liquidation rates and, at times, incorporates such input into the estimates that the Company uses for its expected cash flows. The Company acquires accounts that have experienced deterioration of credit quality between origination and the date of its acquisition of the accounts. The amount paid for a portfolio of accounts reflects the Company’s determination that it is probable that the Company will be unable to collect all amounts due according to the portfolio of accounts’ contractual terms. The Company considers the expected payments and estimates the amount and timing of undiscounted expected principal, interest and other cash flows for each acquired portfolio coupled with expected cash flows from accounts available for sales. The excess of this amount over the cost of the portfolio, representing the excess of the accounts’ cash flows expected to be collected over the amount paid, was accreted into income recognized on finance receivables accounted for on the interest method over the expected remaining life of the portfolio. Commissions and fees are the contractual commissions earned by third party collection agencies and attorneys, and direct costs associated with the collection effort, generally court costs. The Company expects to continue to purchase portfolios and utilize third party collection agencies and attorney networks.

Income Taxes

Income Taxes	9 Months Ended
	Jun. 30, 2014
Income Taxes	Note 15 — Income Taxes Deferred federal and state taxes principally arise from (i) recognition of finance income collected for tax purposes, but not yet recognized for financial reporting; (ii) provision for impairments/credit losses; and (iii) stock based compensation expense for stock option grants and restricted stock awards recorded in the statement of operations for which no cash distribution has been made. Other components consist of state net operating loss (“NOL”) carry-forwards, which expire in September 2029. The provision for income tax expense (benefit) for the three month periods ended June 30, 2014 and 2013 reflects income tax expense (benefit) at an effective rate of 38.7% and (40.9)%, respectively. The provision for income tax expense for the nine month periods ended June 30, 2014 and 2013 reflects income tax expense at an effective rate of 36.7% and 35.4%, respectively. The corporate federal income tax returns of the Company for the years 2009 through 2013 are subject to examination by the IRS, generally for three years after they are filed. The state income tax returns and other state filings of the Company are subject to examination by the state taxing authorities, for various periods generally up to four years after they are filed. In April 2010, the Company received notification from the IRS that the Company’s federal income tax returns would be audited. The current IRS audit period is 2008 through 2012. This audit is currently in progress. Additional tax liabilities, penalties and interest thereon when determined could have a material impact on the Company’s financial statements.

Net Income (Loss) per Share - (

Net Income (Loss) per Share - (Restated and Revised)	9 Months Ended
	Jun. 30, 2014
Net Income (Loss) per Share - (Restated and Revised)	Note 16 — Net Income (Loss) per Share - (Restated and Revised) Basic per share data is calculated by dividing net income by the weighted average shares outstanding during the period. Diluted earnings per share is calculated similarly, except that it includes the dilutive effect of the assumed exercise of securities, including the effect of shares issuable under the Company’s stock based compensation plans. With respect to the assumed proceeds from the exercise of dilutive options, the treasury stock method is calculated using the average market price for the period. The following table presents the computation of basic and diluted per share data for the nine months ended June 30, 2014 and 2013: RESTATED (1) REVISED (2) Nine Months Ended June 30, 2014 Nine Months Ended June 30, 2013 Net Income Weighted Average Shares Per Share Amount Net Income Weighted Average Shares Per Share Amount Basic $ 5,709,000 12,979,472 $ 0.44 $ 718,000 12,946,521 $ 0.06 Effect of Dilutive Stock 228,543 (0.01 ) 271,135 (0.01 ) Diluted $ 5,709,000 13,208,015 $ 0.43 $ 718,000 13,217,656 $ 0.05 (1) Net income and per share data have been restated as explained in Note 2 – Restatement of Quarterly Financial Statements and Revision of Prior Period Financial Statements. (2) Net income and per share data have been revised as explained in Note 2 – Restatement of Quarterly Financial Statements and Revision of Prior Period Financial Statements. (3) At June 30, 2014, 1,088,304 options at a weighted average exercise price of $11.88 were not included in the diluted earnings per share calculation as they were antidilutive. (4) At June 30, 2013, 575,669 options at a weighted average exercise price of $8.07 were not included in the diluted earnings per share calculation as they were antidilutive. The following table presents the computation of basic and diluted per share data for the three months ended June 30, 2014 and 2013: RESTATED (1) REVISED (2) Three Months Ended June 30, 2014 Three Months Ended June 30, 2013 (1) Net Income Weighted Average Shares (1) Per Share Amount (2) Net Income Weighted Average Shares (2) Per Share Amount Basic $ 4,687,000 12,984,882 $ 0.36 $ (3,369,000 ) 12,954,455 $ (0.26 ) Effect of Dilutive Stock 229,821 (0.01 ) — 0.00 Diluted $ 4,687,000 13,214,703 $ 0.35 $ (3,369,000 ) 12,954,455 $ (0.26 ) (1) Net income and per share data have been restated as explained in Note 2 – Restatement of Quarterly Financial Statements and Revision of Prior Period Financial Statements. (2) Net income and per share data have been revised as explained in Note 2 – Restatement of Quarterly Financial Statements and Revision of Prior Period Financial Statements.

Stock Based Compensation

Stock Based Compensation	9 Months Ended
	Jun. 30, 2014
Stock Based Compensation	Note 17 — Stock Based Compensation The Company accounts for stock-based employee compensation under ASC 718, Compensation — Stock Compensation (“ASC 718”). ASC 718 requires that compensation expense associated with stock options and other stock based awards be recognized in the statement of operations, rather than a disclosure in the notes to the Company’s consolidated financial statements. In February 2014, the Compensation Committee of the Board of Directors of the Company (“Compensation Committee”) granted 5,000 options to a former employee for past services. The exercise price of these options, issued on February 4, 2014, was at the market price on that date. The options vested immediately. The weighted average assumptions used in the option pricing model were as follows: Risk-free interest rate 0.06 % Expected term (years) 5.9 Expected volatility 35.3 % Dividend yield 0.00 % In December 2013, the Compensation Committee granted 156,700 stock options, of which 70,000 options were awarded to the Officers of the Company and the remaining 86,700 stock options were awarded to non-officer employees of the Company. The exercise price of these options, issued on December 12, 2013, was at the market price on that date. The options vest in three equal annual installments and accounted for as one graded vesting award. The weighted average assumptions used in the option pricing model were as follows: Risk-free interest rate 0.08 % Expected term (years) 6.5 Expected volatility 98.3 % Dividend yield 0.00 % In December 2012, the Compensation Committee granted 160,000 stock options, of which 65,000 options were awarded to three officers of the Company and 20,000 options were awarded to an employee of the Company. The remaining 75,000 shares were issued to six non-employee directors of the Company. The exercise price of these options, issued on December 18, 2012, was at the market price on that date. The options vest in three equal annual installments and accounted for as one graded vesting award. The weighted average assumptions used in the option pricing model were as follows: Risk-free interest rate 0.16 % Expected term (years) 6.0 Expected volatility 101.0 % Dividend yield 1.67 % In addition, the Company granted 102,321 restricted shares to the Chief Executive Officer of the Company. The shares vest in three equal annual installments.

Stock Option Plans

Stock Option Plans	9 Months Ended
	Jun. 30, 2014
Stock Option Plans	Note 18 — Stock Option Plans 2012 Stock Option and Performance Award Plan On February 7, 2012, the Board of Directors adopted the Company’s 2012 Stock Option and Performance Award Plan (the “2012 Plan”), which was approved by the stockholders of the Company on March 21, 2012. The 2012 Plan replaces the Equity Compensation Plan (as defined below). The 2012 Plan provides the Company with flexibility with respect to equity awards by providing for grants of stock awards (i.e. restricted or unrestricted), stock purchase rights and stock appreciation rights, in addition to the granting of stock options. The Company authorized 2,000,000 shares of Common Stock for issuance under the 2012 Plan. Under the 2012 Plan, the Company has granted options to purchase an aggregate of 371,700 shares and an award of 102,321 shares of restricted stock, leaving 1,525,979 shares available as of June 30, 2014. As of June 30, 2014, approximately 49 of the Company’s employees were able to participate in the 2012 Plan. Equity Compensation Plan On December 1, 2005, the Board of Directors adopted the Company’s Equity Compensation Plan (the “Equity Compensation Plan”), which was approved by the stockholders of the Company on March 1, 2006. The Equity Compensation Plan was adopted to supplement the Company’s 2002 Stock Option Plan (as defined below). In addition to permitting the grant of stock options as are permitted under the 2002 Stock Option Plan, the Equity Compensation Plan allows the Company flexibility with respect to equity awards by also providing for grants of stock awards (i.e. restricted or unrestricted), stock purchase rights and stock appreciation rights. The Company authorized 1,000,000 shares of Common Stock for issuance under the Equity Compensation Plan. As of March 21, 2012, no more awards could be issued under this plan. 2002 Stock Option Plan On March 5, 2002, the Board of Directors adopted the Company’s 2002 Stock Option Plan (the “2002 Plan”), which plan was approved by the stockholders of the Company on May 1, 2002. The 2002 Plan was adopted in order to attract and retain qualified directors, officers and employees of, and consultants to, the Company. The 2002 Plan authorizes the granting of incentive stock options (as defined in Section 422 of the Internal Revenue Code of 1986, as amended (the “Code”)) and non-qualified stock options to eligible employees of the Company, including officers and directors of the Company (whether or not employees) and consultants of the Company. The Company authorized 1,000,000 shares of Common Stock authorized for issuance under the 2002 Plan. As of March 5, 2012, no more awards could be issued under this plan. Summary of the Plans Compensation expense for stock options and restricted stock is recognized over the vesting period. Compensation expense for restricted stock is based upon the market price of the shares underlying the awards on the grant date. The following table summarizes stock option transactions under the 2012 Plan, the 2002 Plan, and the Equity Compensation Plan: Nine Months Ended June 30, 2014 2013 Shares Weighted Shares Weighted Outstanding options at the beginning of period 1,622,771 $ 11.31 1,499,471 $ 11.27 Options granted 161,700 8.48 210,000 9.36 Options exercised (11,500 ) 3.46 (29,500 ) 3.51 Options forfeited/canceled (210,767 ) 14.87 (50,000 ) 7.77 Outstanding options at the end of period 1,562,204 $ 10.66 1,629,971 $ 11.27 Exercisable options at the end of period 987,198 $ 11.97 1,112,037 $ 12.57 Three Months Ended June 30, 2014 2013 Shares Weighted Shares Weighted Average Exercise Price Outstanding options at the beginning of period 1,563,704 $ 10.65 1,655,871 $ 11.12 Options granted — — 50,000 8.69 Options exercised (1,500 ) 6.89 (25,900 ) 3.06 Options forfeited/canceled — — (50,000 ) 7.77 Outstanding options at the end of period 1,562,204 $ 10.66 1,629,971 $ 11.27 Exercisable options at the end of period 987,198 $ 11.97 1,112,037 $ 12.57 The following table summarizes information about the 2012 Plan, 2002 Plan, and the Equity Compensation Plan outstanding options as of June 30, 2014: Options Outstanding Options Exercisable Range of Exercise Price Weighted Weighted Weighted Number Weighted Average Exercise Price $ 2.8751 – $ 5.7500 7,500 4.8 $ 2.95 7,500 $ 2.95 $ 5.7501 – $ 8.6250 938,100 7.1 7.92 503,100 7.78 $ 8.6251 – $14.3750 260,000 8.3 9.77 119,994 10.25 $14.3751 – $17.2500 1,944 0.0 15.99 1,944 15.99 $17.2501 – $20.1250 339,660 0.3 18.23 339,660 18.23 $25.8751 – $28.7500 15,000 2.5 28.75 15,000 28.75 1,562,204 5.8 $ 10.66 987,198 $ 11.97 The Company recognized $1,046,000 and $367,000 of compensation expense related to stock option during the nine and three month periods ended June 30, 2014, respectively. The Company recognized $1,307,000 and $532,000 of compensation expense related to stock options during the nine and three months ended June 31, 2013. As June 30, 2014, there was $1,796,000 of unrecognized compensation cost related to stock option awards. The weighted average period over which such costs are expected to be recognized is 1.45 years. The intrinsic value of the outstanding and exercisable options as of June 30, 2014 was approximately $391,000 and $281,000, respectively. The weighted average remaining contractual life of exercisable options is 4.3 years. The intrinsic and the fair value of the options exercised during the nine month period ended June 30, 2014 was approximately $57,000 and $95,000, respectively. The intrinsic and fair value of the stock options exercised during the three month period ended June 30, 2014 was approximately $2,000 and $12,000, respectively. The intrinsic and fair value of the stock options exercised during the nine month period ended June 30, 2013 was approximately $172,000 and $276,000, respectively. The intrinsic and fair value of the stock options exercised during the three month period ended June 30, 2013 was approximately $162,000 and $241,000, respectively. The proceeds from the exercise of options exercised during the nine and three month periods ended June 30, 2014 were approximately $40,000 and $10,000, respectively. There was no tax effect associated with these exercises. The fair value of the stock options that vested during the nine and three month periods ended June 30, 2014 was approximately $743,000 and $137,000, respectively. The fair value of the options that vested during the nine and three month periods ended June 30, 2013 was approximately $1,259,000 and $144,000, respectively. The fair value of the awards granted during the nine and three month periods ended June 30, 2014 was $1,372,000 and $0, respectively. The fair value of the awards granted during the nine and three month period ended June 30, 2013 was approximately $1,702,000 and $341,000, respectively. The following table summarizes information about restricted stock transactions: Nine Months Ended June 30, 2014 2013 Shares Weighted Shares Weighted Unvested at the beginning of period 102,321 $ 9.57 10,922 $ 7.63 Awards granted — — 102,321 9.57 Vested (34,107 ) 9.57 (10,922 ) 7.63 Forfeited — — — — Unvested at the end of period 68,214 $ 9.57 102,321 $ 9.57 Three Months Ended June 30, 2014 2013 Shares Weighted Shares Weighted Unvested at the beginning of period 68,214 $ 9.57 102,321 $ 9.57 Awards granted — — — — Vested — — — — Forfeited — — — — Unvested at the end of period 68,214 $ 9.57 102,321 $ 9.57 The Company recognized $244,000 and $82,000 of compensation expense related to the restricted stock awards during the nine and three month periods ended June 30, 2014, respectively. The Company recognized $191,000 and $81,000 of compensation expense related to the restricted stock awards for the nine and three month periods ended June 30, 2013. As of June 30, 2014, there was $479,000 of unrecognized compensation cost related to restricted stock awards. The weighted average remaining period over which such costs expected to be recognized is 1.47 years. There were no restricted stock awards granted during the first nine months of fiscal year 2014. The fair value of the restricted stock awards granted during the first quarter of fiscal year 2013 was approximately $979,000. The fair value of the awards vested during the nine month periods ended June 30, 2014 and 2013 was $326,000 and $83,000, respectively. There were no awards vested in the third quarter of fiscal years 2014 and 2013. The Company recognized an aggregate total of $1,290,000 and $449,000, respectively, in compensation expense for the nine and three month periods ended June 30, 2014, for the stock options and restricted stock grants. The Company recognized an aggregate of $1,498,000 and $613,000, respectively, for the nine and three month periods ended June 30, 2013, for the stock options and restricted stock grants. As of June 30, 2014, there was a total of $2,275,000 of unrecognized compensation cost related to unvested stock options and restricted stock grants. The method used to calculate stock based compensation is the straight line pro-rated

Stockholders' Equity and Prior

Stockholders' Equity and Prior Period Adjustments	9 Months Ended
	Jun. 30, 2014
Stockholders' Equity and Prior Period Adjustments	Note 19 — Stockholders’ Equity and Prior Period Adjustments As more fully disclosed in Note 2, the Company identified pre-tax errors in prior annual periods related to the application of the interest method for consumer receivables acquired for liquidation and accounted for under ASC 310-30. This misstatement resulted in an increase in finance receivables of approximately $6.4 million, with a decrease in deferred taxes of approximately $2.7 million and a resulting increase to retained earnings of approximately $3.7 million in this Form 10-Q/A as of September 30, 2013. The impact of the misstatements in the prior years’ financial statements was not material to any of those years, however, the cumulative effect of correcting all of the prior period misstatements in the current year would be material to our current year consolidated financial statements. As such, consistent with the guidance in ASC Topic 250, we have accounted for these errors as a restatement of prior period financial statements. There were no dividends declared or paid during the nine months ended June 30, 2014. During September 2012, the Company declared a cash dividend aggregating $260,000 ($0.02 per share) which was paid November 1, 2012. On December 13, 2012, the Board of Directors of the Company approved the payment of a special accelerated annual dividend of $0.08 per share to shareholders of record on December 24, 2012. The aggregate dividend of $1,030,000 was paid on December 28, 2012. On March 9, 2012, the Company adopted a Rule 10b5-1 Plan in conjunction with its share repurchase program. The Board of Directors approved the repurchase of up to $20 million of the Company’s common stock, which was effective through March 11, 2013. During the nine and three month period ended June 31, 2013 the Company purchased approximately 172,000 and 0 shares, respectively, at an aggregate cost of approximately $1,574,000 and $0, respectively, under the plan. The Plan expired in March 2013.

Fair Value of Financial Measure

Fair Value of Financial Measurements and Disclosures (Restated and Revised)	9 Months Ended
	Jun. 30, 2014
Fair Value of Financial Measurements and Disclosures (Restated and Revised)	Note 20 — Fair Value of Financial Measurements and Disclosures (Restated and Revised) Disclosures about Fair Value of Financial Instruments FASB ASC 825, Financial Instruments, (“ASC 825”), requires disclosure of fair value information about financial instruments, whether or not recognized on the balance sheet, for which it is practicable to estimate that value. Because there are a limited number of market participants for certain of the Company’s assets and liabilities, fair value estimates are based upon judgments regarding credit risk, investor expectation of economic conditions, normal cost of administration and other risk characteristics, including interest rate and prepayment risk. These estimates are subjective in nature and involve uncertainties and matters of judgment, which significantly affect the estimates. The estimated fair value of the Company’s financial instruments is summarized as follows: RESTATED REVISED June 30, 2014 September 30, 2013 Carrying Fair Carrying Fair Financial assets Available-for-sale investments (Level 1) $ 70,205,000 $ 70,205,000 $ 58,035,000 $ 58,035,000 Consumer receivables acquired for liquidation (Level 3) 32,414,000 60,490,000 64,254,000 70,875,000 Structured settlements (Level 3) 35,892,000 35,892,000 — — Financial liabilities Non-recourse debt – BMO (Level 3) — — 35,760,000 27,000,000 Other debt – CBC, revolving line of credit (Level 3) 14,443,000 14,443,000 — — Other debt – CBC, non-recourse notes payable with varying installments (Level 3) 12,991,000 12,991,000 — — Disclosure of the estimated fair values of financial instruments often requires the use of estimates. The Company uses the following methods and assumptions to estimate the fair value of financial instruments: Available-for-sale investments — The available-for-sale securities consist of mutual funds that are valued based on quoted prices in active markets. Consumer receivables acquired for liquidation — The Company computed the fair value of the consumer receivables acquired for liquidation using its proprietary forecasting model. The Company’s forecasting model utilizes a discounted cash flow analysis. The Company’s cash flows are an estimate of collections for consumer receivables based on variables fully described in Note 4: Consumer Receivables Acquired for Liquidation. These cash flows are discounted to determine the fair value. Structured settlements — The Company determined the fair value based on the discounted forecasted future collections of the structured settlements. Non-recourse Debt — Bank of Montreal — carried a variable rate. The fair value at September 30, 2013 was based on the discounted weighted average forecasted future collections of the Portfolio Purchase. Other debt CBC, revolving line of credit — The Company determined the fair value based on similar instruments in the market. Other debt CBC, notes payable with varying installments — The fair value at June 30, 2014 was based on the discounted forecasted future collections of the structured settlements. Fair Value Hierarchy The Company recorded its available-for-sale investments at estimated fair value on a recurring basis. The accompanying consolidated financial statements include estimated fair value information regarding its available-for-sale investments as of June 30, 2014, as required by FASB ASC 820, Fair Value Measurements and Disclosures (“ASC 820”). ASC 820 defines fair value as the price that would be received to sell an asset or paid to transfer a liability (an exit price) in an orderly transaction between market participants on the measurement date. ASC 820 also establishes a fair value hierarchy which requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. A financial instrument’s level within the fair value hierarchy is based on the lowest level of input significant to the fair value measurement. Level 1 — Quoted prices (unadjusted) in active markets for identical assets or liabilities that the Company has the ability to assess at the measurement date. Level 2 — Observable inputs other than Level 1 prices, such as quoted prices for similar assets or liabilities in active markets; quoted prices in markets that are not active for identical or similar assets or liabilities; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the asset or liability. Level 3 — Unobservable inputs that are supported by little or no market activity and significant to the fair value of the liabilities that are developed using the reporting entities’ estimates and assumptions, which reflect those that market participants would use. The Company’s available-for-sale investments are classified as Level 1 financial instruments based on the classifications described above. The Company did not have transfers into or (out of) Level 1 investments during the nine month period ended June 30, 2014. The Company had no Level 2 or Level 3 available-for-sale investments during the first nine months of fiscal year 2014. The following table sets forth the Company’s quantitative information about its Level 3 fair value measurements as of June 30, 2014: Fair Value Valuation Unobservable Rate Structured settlements at fair value $ 35,892,000 Discounted cash flow Discount rate 5.5 % The changes in structured settlements at fair value using significant unobservable inputs (Level 3) during the nine months ended June 30, 2014 were as follows: Balance at September 30, 2013 $ 0 Acquisition of CBC (see Note 6) 30,436,000 Total gains included in earnings 1,440,000 Purchases 4,696,000 Sales — Interest accreted 1,475,000 Payments received (2,155,000 ) Total $ 35,892,000 The amount of total gains for the nine month period included in earnings attributable to the change in unrealized gains (losses) relating to assets held at June 30, 2014 $ 1,440,000 Fair Value Hierarchy Realized and unrealized gains and losses included in earnings in the accompanying consolidated statements of income for the nine months ended June 30, 2014 are reported in the following revenue categories: Total gains (losses) included in earnings in fiscal year 2014 $ 1,440,000 Change in unrealized gains (losses) relating to assets still held at June 30, 2014 $ 1,440,000 The changes in structured settlements at fair value using significant observable inputs (Level 3) during the three months ended June 30, 2014 were as follows: Balance at March 31, 2014 $ 33,330,000 Total gains included in earnings 620,000 Purchases 2,337,000 Sales — Interest accreted 767,000 Payments received (1,162,000 ) Total $ 35,892,000 The amount of total gains for the three month period included in earnings attributable to the change in unrealized gains (losses) relating to assets held at June 30, 2014 $ 620,000 Realized and unrealized gains and losses included in earnings in the accompanying consolidated statements of income for the three months ended June 30, 2014 are reported in the following revenue categories: Total gains included in earnings in the three months ended June 30, 2014 $ 620,000 Change in unrealized gains (losses) relating to assets still held at June 30, 2014 $ 620,000

Business and Basis of Present30

Business and Basis of Presentation (Policies)	9 Months Ended
	Jun. 30, 2014
Business	Business Asta Funding, Inc., together with its wholly owned significant operating subsidiaries Palisades Collection LLC, Palisades Acquisition XVI, LLC (“Palisades XVI”), VATIV Recovery Solutions LLC (“VATIV”), ASFI Pegasus Holdings, LLC (“APH”), Fund Pegasus, LLC (“Fund Pegasus”), GAR National Disability Advocates, LLC (“GAR National Disability”) (formerly known as AGR Disability Help Center, LLC) and other subsidiaries, not all wholly owned (collectively, the “Company”), is engaged in the business of purchasing, managing for its own account and servicing distressed consumer receivables, including charged-off receivables, semi-performing receivables and performing receivables. The primary charged-off receivables are accounts that have been written-off by the originators and may have been previously serviced by collection agencies. Semi-performing receivables are accounts where the debtor is currently making partial or irregular monthly payments, but the accounts may have been written-off by the originators. Performing receivables are accounts where the debtor is making regular monthly payments that may or may not have been delinquent in the past. Distressed consumer receivables are the unpaid debts of individuals to banks, finance companies and other credit providers. A large portion of the Company’s distressed consumer receivables are MasterCard®, Visa®, other credit card accounts, and telecommunication accounts which were charged-off by the issuers for non-payment. The Company acquires these portfolios at substantial discounts from their face values. The discounts are based on the characteristics (issuer, account size, debtor residence and age of debt) of the underlying accounts of each portfolio. Litigation related receivables are semi-performing investments whereby the Company is assigned the revenue stream from the proceeds received. The Company owns 80% of Pegasus Funding, LLC (“Pegasus”), which invests in funding personal injury claims and 80% of CBC Settlement Funding, LLC (“CBC”), which invests in structured settlements (see Note 6: Acquisition of CBC). GAR National Disability is a non-attorney advocacy group, which obtains and represents individuals nationwide in their claims for social security disability and supplemental security income benefits from the Social Security Administration.
Basis of Presentation	Basis of Presentation The condensed consolidated balance sheet as of June 30, 2014, the condensed consolidated statements of operations for the nine and three month periods ended June 30, 2014 and 2013, the condensed consolidated statements of comprehensive income (loss) for the nine and three month periods ended June 30, 2014 and 2013, the condensed consolidated statement of stockholders’ equity as of and for the nine months ended June 30, 2014 and 2013 and the condensed consolidated statements of cash flows for the nine month periods ended June 30, 2014 and 2013, are unaudited. The September 30, 2013 financial information included in this report has been extracted from our audited financial statements included in our Annual Report on Form 10-K for the fiscal year ended September 30, 2013. In the opinion of management, all adjustments (which include only normal recurring adjustments) necessary to present fairly our financial position at June 30, 2014 and September 30, 2013, the results of operations for the nine and three month periods ended June 30, 2014 and 2013 and cash flows for the nine month periods ended June 30, 2014 and 2013 have been made. The results of operations for the nine and three month periods ended June 30, 2014 and 2013 are not necessarily indicative of the operating results for any other interim period or the full fiscal year. Palisades XVI is a variable interest entity (“VIE”). Asta Funding, Inc. is considered the primary beneficiary because it has the power to direct the significant activities of the VIE via its ownership and service contract. Palisades XVI holds the Great Seneca portfolio valued at $21.6 million as of June 30, 2014. See Note 11-Debt, Non-Recourse Debt-Bank of Montreal Blue Bell Receivables I, LLC, Blue Bells Receivables II, LLC and Blue Bell Receivables III, LLC (the “Blue Bell Entities”) are VIEs. CBC is considered the primary beneficiary because it has the power to direct the significant activities of the VIEs via its ownership and service contract. It also has the rights to receive benefits from the collections that exceed the payments to the note holders. The Blue Bell Entities held structured settlements of $14.4 million and non-recourse notes payable of $13.0 million as of June 30, 2014. The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with Rule 10-01 of Regulation S-X promulgated by the Securities and Exchange Commission and therefore do not include all information and note disclosures required under generally accepted accounting principles. The Company suggests that these financial statements be read in conjunction with the financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the fiscal year ended September 30, 2013, filed with the Securities and Exchange Commission. The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates including management’s estimates of future cash flows and the resulting rates of return.
Recently Issued Accounting Standards	Recently Issued Accounting Standards In May 2014, the Financial Accounting Standards Board (the “FASB”) issued an update to ASC 606, “Revenue from Contracts with Customers,” that will supersede virtually all existing revenue guidance. Under this update, an entity is required to recognize revenue upon transfer of promised goods or services to customers, in an amount that reflects the entitled consideration received in exchange for those goods or services. The guidance also requires additional disclosure about the nature, amount, timing, and uncertainty of revenue and cash flows arising from the customer contracts. This update is effective for annual reporting periods beginning after December 15, 2016, including interim periods within that reporting period. Early application is not permitted. We are currently evaluating the impact this update will have on our consolidated financial statements as well as the expected adoption method. In June 2014, the FASB issued ASU 2014-11, “Transfers and Servicing (Topic 860): Repurchase-to-Maturity Transactions, Repurchase Financings, and Disclosures.” The amendments in this ASU require two accounting changes. First, the amendments in this ASU change the accounting for repurchase-to maturity transactions to secured borrowing accounting. Second, for repurchase financing arrangements, the amendments require separate accounting for a transfer of a financial asset executed contemporaneously with a repurchase agreement with the same counterparty, which will result in secured borrowing accounting for the repurchase agreement. This ASU also includes new disclosure requirements. The accounting changes in this Update are effective for public business entities for the first interim or annual period beginning after December 15, 2014. An entity is required to present changes in accounting for transactions outstanding on the effective date as a cumulative-effect adjustment to retained earnings as of the beginning of the period of adoption. Earlier application for a public business entity is prohibited. The Company reviewed this ASU and determined that it did not have a material impact on its consolidated financial statements.
Concentration of Credit Risk - Cash	Concentration of Credit Risk — Cash Cash balances are maintained at various high credit quality depository institutions and are insured by the Federal Deposit Insurance Corporation (“FDIC”). The Company believes it is not exposed to any significant credit risk for cash.
Reclassifications	Reclassifications Certain items in the three months and nine months ended June 30, 2013 condensed consolidated financial statements have been reclassified to conform to the current period’s presentation, primarily related to certain balance sheet and statement of operations items.

Restatement of Quarterly Fina31

Restatement of Quarterly Financial Statements and Revision of Prior Period Financial Statements (Tables)	9 Months Ended
	Jun. 30, 2014
Restatement of Consolidated Balance Sheet	These adjustments also cumulatively impacted the following balance sheet line items as of June 30, 2014: ASTA FUNDING, INC. AND SUBSIDIARIES Condensed Consolidated Statements Balance Sheet June 30, 2014 As Reported Adjustments As Restated ASSETS Cash and cash equivalents $ 26,017,000 $ 0 $ 26,017,000 Available for sale investments 70,205,000 0 70,205,000 Consumer receivables acquired for liquidation (at net realizable value) 31,514,000 900,000 32,414,000 Structured settlements 35,892,000 0 35,892,000 Investment in personal injury claims 31,733,000 0 31,733,000 Due from third party collection agencies and attorneys 1,138,000 0 1,138,000 Furniture and equipment, net 656,000 0 656,000 Deferred income taxes 8,894,000 (803,000 ) 8,091,000 Goodwill 2,770,000 0 2,770,000 Other assets 4,990,000 0 4,990,000 Total assets $ 213,809,000 $ 97,000 $ 213,906,000 LIABILITIES AND STOCKHOLDERS’ EQUITY Other debt – CBC (including non-recourse notes payable amounting to $13.0 million) 27,434,000 0 27,434,000 Other liabilities 2,723,000 0 2,723,000 Income taxes payable 3,084,000 0 3,084,000 Total liabilities 33,241,000 0 33,241,000 Commitments and contingencies STOCKHOLDERS’ EQUITY Preferred stock, $0.01 par value; authorized 5,000,000; issued and outstanding - none — — — Common stock, $.01 par value, authorized 30,000,000 shares; issued and outstanding 12,985,739 130,000 0 130,000 Additional paid in capital 62,648,000 0 62,648,000 Retained earnings 118,306,000 97,000 118,403,000 Accumulated other comprehensive income 22,000 0 22,000 Non-controlling interest (538,000 ) 0 (538,000 ) Total stockholders’ equity 180,568,000 97,000 180,665,000 Total liabilities and stockholders’ equity $ 213,809,000 $ 97,000 $ 213,906,000
Restatement of Condensed Consolidated Statements of Income	ASTA FUNDING, INC. AND SUBSIDIARIES Condensed Consolidated Statements of Income (Unaudited) The adjustments discussed above for applying the cost recovery method, net of related income tax benefit, resulted in an overstatement of net income of approximately $0.8 million for the three month period ended June 30, 2014. The restatement of the three month period ended June 30, 2014 is as follow: Three Months Ended June 30, 2014 As Reported Adjustments As Restated Revenues: Finance income on consumer receivables, net $ 6,652,000 $ (1,578,000 ) $ 5,074,000 Personal injury claims income 1,779,000 0 1,779,000 Unrealized gain on structured settlements 620,000 0 620,000 Interest income on structured settlements 786,000 0 786,000 Total revenues 9,837,000 (1,578,000 ) 8,259,000 Forgiveness of non-recourses debt 26,101,000 26,101,000 Other income (includes $116,000 accumulated other comprehensive income reclassification for unrealized net loss on available for sale securities) 336,000 0 336,000 36,274,000 (1,578,000 ) 34,696,000 Expenses: General and administrative 7,012,000 0 7,012,000 Interest expense 413,000 0 413,000 Impairments of consumer receivables acquired for liquidation 19,901,000 (310,000 ) 19,591,000 27,326,000 (310,000 ) 27,016,000 Income before income tax expense (benefit) 8,948,000 (1,268,000 ) 7,680,000 Income tax expense (includes tax benefit of $47,000 accumulated other comprehensive income reclassification for unrealized net loss on available for sale securities) 3,464,000 (491,000 ) 2,973,000 Net income 5,484,000 (777,000 ) 4,707,000 Less: net income attributable to non-controlling interest 20,000 0 20,000 Net income attributable to Asta Funding, Inc. $ 5,464,000 $ (777,000 ) $ 4,687,000 Net income per share attributable to Asta Funding, Inc.: Basic $ 0.42 $ (0.06 ) $ 0.36 Diluted $ 0.41 $ (0.06 ) $ 0.35 Weighted average number of shares outstanding: Basic 12,984,882 12,984,882 Diluted 13,214,703 13,214,703 The adjustments discussed above for applying the cost recovery method, net of related income tax benefit, resulted in an understatement of net loss of approximately $0.6 million for the three month period ended June 30, 2013. The restatement of the three month period ended June 30, 2013 is as follow: Three Months Ended June 30, 2013 As Reported Adjustments As Revised Revenues: Finance income on consumer receivables, net $ 10,003,000 $ (1,031,000 ) $ 8,972,000 Personal injury claims income 2,287,000 0 2,287,000 Total revenues 12,290,000 (1,031,000 ) 11,259,000 Other income (includes $17,000 accumulated other comprehensive income reclassification for unrealized net gain on available for sale securities) 378,000 0 378,000 12,668,000 (1,031,000 ) 11,637,000 Expenses: General and administrative 6,545,000 0 6,545,000 Interest expense 518,000 0 518,000 Impairments of consumer receivables acquired for liquidation 10,148,000 38,000 10,186,000 17,211,000 38,000 17,249,000 (Loss) before income tax (benefit) (4,543,000 ) (1,069,000 ) (5,612,000 ) Income tax (benefit) (includes tax expense of $5,000 accumulated other comprehensive income reclassification for unrealized net gain on available for sale securities) (1,859,000 ) (437,000 ) (2,296,000 ) Net loss (2,684,000 ) (632,000 ) (3,316,000 ) Less: net income attributable to non-controlling interest 53,000 0 53,000 Net (loss) attributable to Asta Funding, Inc. $ (2,737,000 ) $ (632,000 ) $ (3,369,000 ) Net (loss) per share attributable to Asta Funding, Inc.: Basic $ (0.21 ) $ (0.05 ) $ (0.26 ) Diluted $ (0.21 ) $ (0.05 ) $ (0.26 ) Weighted average number of shares outstanding: Basic 12,954,455 12,954,455 Diluted 12,954,455 12,954,455 The adjustments discussed above for applying the cost recovery method, net of related income tax benefit, resulted in an overstatement of net income of approximately $3.6 million for the nine month period ended June 30, 2014. The restatement of the nine month period ended June 30, 2014 is as follow: Nine Months Ended June 30, 2014 As Reported Adjustments As Restated Revenues: Finance income on consumer receivables, net $ 20,556,000 $ (5,764,000 ) $ 14,792,000 Personal injury claims income 5,724,000 0 5,724,000 Unrealized gain on structured settlements 1,440,000 0 1,440,000 Interest income on structured settlements 1,501,000 0 1,501,000 Total revenues 29,221,000 (5,764,000 ) 23,457,000 Forgiveness of non-recourses debt 26,101,000 0 26,101,000 Other income (includes $141,000 accumulated other comprehensive income reclassification for unrealized net lose on available for sale securities) 1,370,000 0 1,370,000 56,692,000 (5,764,000 ) 50,928,000 Expenses: General and administrative 20,517,000 0 20,517,000 Interest expense 820,000 0 820,000 Impairments of consumer receivables acquired for liquidation 19,901,000 (310,000 ) 19,591,000 41,238,000 (310,000 ) 40,928,000 Income before income tax expense (benefit) 15,454,000 (5,454,000 ) 10,000,000 Income tax expense (includes tax benefit of $57,000 accumulated other comprehensive income reclassifications for unrealized net loss on available for sale securities) 5,676,000 (1,868,000 ) 3,808,000 Net income 9,778,000 (3,586,000 ) 6,192,000 Less: net income attributable to non-controlling interest 483,000 0 483,000 Net income attributable to Asta Funding, Inc. $ 9,295,000 $ (3,586,000 ) $ 5,709,000 Net income per share attributable to Asta Funding, Inc.: Basic $ 0.72 $ (0.28 ) $ 0.44 Diluted $ 0.70 $ (0.27 ) $ 0.43 Weighted average number of shares outstanding: Basic 12,979,472 12,979,472 Diluted 13,208,015 13,208,015 The adjustments discussed above for applying the cost recovery method, net of related income tax benefit, resulted in an overstatement of net income of approximately $15,000 for the nine month period ended June 30, 2013. The restatement of the nine month period ended June 30, 2013 is as follow: Nine Months Ended June 30, 2013 As Reported Adjustments As Revised Revenues: Finance income on consumer receivables, net $ 26,756,000 $ (1,716,000 ) $ 25,040,000 Personal injury claims income 4,921,000 0 4,921,000 Total revenues 31,677,000 (1,716,000 ) 29,961,000 Other income (includes $192,000 accumulated other comprehensive income reclassification for unrealized net gain on available for sale securities) 1,628,000 0 1,628,000 33,305,000 (1,716,000 ) 31,589,000 Expenses: General and administrative 17,926,000 0 17,926,000 Interest expense 1,621,000 0 1,621,000 Impairments of consumer receivables acquired for liquidation 12,351,000 (1,646,000 ) 10,705,000 31,898,000 (1,646,000 ) 30,252,000 Income (loss) before income tax expense (benefit) 1,407,000 (70,000 ) 1,337,000 Income tax expense (includes tax expense of $76,000 accumulated other comprehensive income reclassification for unrealized net gain on available for sale securities) 498,000 (55,000 ) 443,000 Net income 909,000 (15,000 ) 894,000 Less: net income attributable to non-controlling interest 176,000 0 176,000 Net income attributable to Asta Funding, Inc. $ 733,000 $ (15,000 ) $ 718,000 Net income (loss) per share attributable to Asta Funding, Inc.: Basic $ 0.06 $ 0.00 $ 0.06 Diluted $ 0.06 $ (0.01 ) $ 0.05 Weighted average number of shares outstanding: Basic 12,946,521 12,946,521 Diluted 13,217,656 13,217,656
Restatement of Condensed Consolidated Statements of Income	ASTA FUNDING, INC. AND SUBSIDIARIES Condensed Consolidated Statements of Cash Flows (Unaudited) The adjustments discussed above also resulted in changes to previously reported amounts in our consolidated statements of cash flows. The previously reported changes in operating assets and liabilities in the reconciliation of net income to cash provided by operating activities have been restated and revised as detailed in the tables below: Nine Months Ended June 30, 2014 As Reported Adjustments As Restated Cash flows from operating activities Net income $ 9,778,000 $ (3,586,000 ) $ 6,192,000 Adjustments to reconcile net income to net cash provided by operating activities: Depreciation and amortization 450,000 0 450,000 Deferred income taxes 1,095,000 (1,868,000 ) (773,000 ) Impairment of consumer receivables acquired for liquidation 19,901,000 (310,000 ) 19,591,000 Stock based compensation 1,290,000 0 1,290,000 Loss / (gain) on sale of available-for-sale securities 141,000 0 141,000 Structured settlements - accrued interest (1,475,000 ) 0 (1,475,000 ) Structured settlements – gains (1,440,000 ) 0 (1,440,000 ) Forgiveness of non-recourses debt (26,101,000 ) 0 (26,101,000 ) Changes in: Prepaid and income taxes receivable 1,496,000 0 1,496,000 Due from third party collection agencies and attorneys 31,000 0 31,000 Other assets (596,000 ) 0 (596,000 ) Income taxes payable 3,084,000 0 3,084,000 Other liabilities (119,000 ) 0 (119,000 ) Net cash provided by operating activities 7,535,000 (5,764,000 ) 1,771,000 Cash flows from investing activities Purchase of consumer receivables acquired for liquidation (3,702,000 ) 0 (3,702,000 ) Principal collected on receivables acquired for liquidation 10,186,000 5,764,000 15,950,000 Principal collected on receivables accounts represented by account sales 1,000 0 1,000 Purchase of available-for-sale securities (19,845,000 ) 0 (19,845,000 ) Proceeds from sale of available-for-sale securities 8,684,000 0 8,684,000 Cash paid for acquisition (net of cash acquired) (5,588,000 ) 0 (5,588,000 ) Investments in personal injury claims – advances (16,392,000 ) 0 (16,392,000 ) Investments in personal injury claims – receipts 20,417,000 0 20,417,000 Investment in structured settlements – advances (4,696,000 ) 0 (4,696,000 ) Investments in structured settlements – receipts 2,155,000 0 2,155,000 Net cash (used in) provided by investing activities (8,780,000 ) 5,764,000 (3,016,000 ) Cash flows from financing activities Proceeds from exercise of stock options 40,000 0 40,000 Changes in restricted cash 968,000 0 968,000 Distribution to non-controlling interest (837,000 ) 0 (837,000 ) Repayment of non-recourse debt (9,659,000 ) 0 (9,659,000 ) Borrowings of other debt 4,131,000 0 4,131,000 Repayments of other debt (2,560,000 ) 0 (2,560,000 ) Net cash used in financing activities (7,917,000 ) 0 (7,917,000 ) Net (decrease) increase in cash and cash equivalents (9,162,000 ) 0 (9,162,000 ) Cash and cash equivalents at beginning of period 35,179,000 0 35,179,000 Cash and cash equivalents at end of period $ 26,017,000 $ 0 26,017,000 Supplemental disclosure of cash flow information Cash paid for: Interest $ 678,000 $ 0 $ 678,000 Supplemental disclosures of non-cash investing and financing activities : Structured settlements $ 30,436,000 0 $ 30,436,000 Other debt – CBC 23,363,000 0 23,363,000 Retirement of treasury stock 17,805,000 0 17,805,000 Nine Months Ended June 30, 2013 As Reported Adjustments As Revised Cash flows from operating activities Net income $ 909,000 $ (15,000 ) $ 894,000 Adjustments to reconcile net income to net cash provided by operating activities: Depreciation and amortization 450,000 0 450,000 Deferred income taxes 85,000 (56,000 ) 29,000 Impairment of consumer receivables acquired for liquidation 12,351,000 (1,646,000 ) 10,705,000 Stock based compensation 1,498,000 0 1,498,000 Loss / (gain) on sale of available-for-sale securities (192,000 ) 0 (192,000 ) Changes in: Prepaid and income taxes receivable 382,000 0 382,000 Due from third party collection agencies and attorneys 802,000 0 802,000 Other assets (2,369,000 ) 0 (2,369,000 ) Other liabilities (1,104,000 ) 0 (1,104,000 ) Net cash provided by operating activities 12,812,000 (1,717,000 ) 11,095,000 Cash flows from investing activities Purchase of consumer receivables acquired for liquidation (3,340,000 ) 0 (3,340,000 ) Principal collected on receivables acquired for liquidation 14,850,000 1,717,000 16,567,000 Principal collected on receivables accounts represented by account sales 432,000 0 432,000 Purchase of available-for-sale securities (29,907,000 ) 0 (29,907,000 ) Proceeds from sale of available-for-sale securities 28,918,000 0 28,918,000 Proceeds from maturities of certificates of deposit 33,918,000 0 33,918,000 Investments in personal injury claims – advances (22,863,000 ) 0 (22,863,000 ) Investments in personal injury claims – receipts 9,162,000 0 9,162,000 Capital expenditures (725,000 ) 0 (725,000 ) Net cash (used in) provided by investing activities 30,445,000 1,717,000 32,162,000 Cash flows from financing activities Proceeds from exercise of stock options 103,000 0 103,000 Changes in restricted cash 21,000 0 21,000 Repayment of non-recourse debt (7,213,000 ) 0 (7,213,000 ) Dividends paid (1,290,000 ) 0 (1,290,000 ) Purchase of treasury stock (1,579,000 ) 0 (1,579,000 ) Net cash used in financing activities (9,958,000 ) 0 (9,958,000 ) Net (decrease) increase in cash and cash equivalents 33,299,000 0 33,299,000 Cash and cash equivalents at beginning of period 4,953,000 0 4,953,000 Cash and cash equivalents at end of period $ 38,252,000 $ 0 $ 38,252,000 Supplemental disclosure of cash flow information Cash paid for: Interest $ 1,645,000 0 $ 1,645,000

Investments (Tables)

Investments (Tables)	9 Months Ended
	Jun. 30, 2014
Available-for-Sale	Investments classified as available-for-sale at June 30, 2014 and September 30, 2013, consist of the following: Amortized Unrealized Unrealized Fair June 30, 2014 $ 70,171,000 $ 292,000 $ (258,000 ) $ 70,205,000 September 30, 2013 $ 59,151,000 $ 27,000 $ (1,143,000 ) $ 58,035,000

Consumer Receivables Acquired33

Consumer Receivables Acquired for Liquidation (Restated and Revised) (Tables)	9 Months Ended
	Jun. 30, 2014
Changes in Balance Sheet Account of Consumer Receivables Acquired for Liquidation	The following tables summarize the changes in the balance sheet account of consumer receivables acquired for liquidation during the following periods: RESTATED For the Nine Months Ended June 30, 2014 Interest Cost Recovery Total Balance, beginning of period $ 8,071,000 $ 49,829,000 $ 57,900,000 Balance transferred to cost recovery – prior period adjustment (1,304,000 ) 1,304,000 — Adjustment for misapplication of the interest method to prior periods 6,354,000 — 6,354,000 Balance beginning of period, as restated 13,121,000 51,133,000 64,254,000 Reclassification of interest method portfolios to cost recovery method (13,121,000 ) 13,121,000 — Acquisition of receivable portfolios — 3,702,000 3,702,000 Net cash collections from collection of consumer receivables acquired for liquidation — (30,739,000 ) (30,739,000 ) Net cash collections represented by account sales of consumer receivables acquired for liquidation — (4,000 ) (4,000 ) Impairment — (19,591,000 ) (19,591,000 ) Finance income recognized (1) — 14,792,000 14,792,000 Balance, end of period $ 0 $ 32,414,000 $ 32,414,000 Finance income as a percentage of collections 0 % 48.1 % 48.1 % (1) Includes $14.8 million derived from fully amortized pools. REVISED For the Nine Months Ended June 30, 2013 Interest Cost Recovery Total Balance, beginning of period $ 12,326,000 $ 74,561,000 $ 86,887,000 Balance transferred to cost recovery – prior period adjustment (2,692,000 ) 2,692,000 — Adjustment for misapplication of the interest method to prior periods 5,852,000 1,500,000 7,352,000 Balance beginning of period, as revised 15,486,000 78,753,000 94,239,000 Acquisition of receivable portfolios — 3,340,000 3,340,000 Net cash collections from collection of consumer receivables acquired for liquidation (24,832,000 ) (15,182,000 ) (40,014,000 ) Net cash collections represented by account sales of consumer receivables acquired for liquidation (977,000 ) (1,047,000 ) (2,024,000 ) Impairment (556,000 ) (10,149,000 ) (10,705,000 ) Finance income recognized (1) 21,765,000 3,275,000 25,040,000 Balance, end of period $ 10,886,000 $ 58,990,000 $ 69,876,000 Finance income as a percentage of collections 84.3 % 20.2 % 59.6 % (1) Includes $20.4 million derived from fully amortized pools. RESTATED For the Three Months Ended June 30, 2014 Interest Cost Recovery Total Balance, beginning of period $ 6,970,000 $ 45,101,000 $ 52,071,000 Balance transferred to cost recovery - prior period adjustment (989,000 ) 989,000 — Adjustment for misapplication of the interest method to prior periods (5,981,000 ) 8,149,000 2,168,000 Balance beginning of period, as restated — 54,239,000 54,239,000 Acquisition of receivable portfolio — 2,733,000 2,733,000 Net cash collections from collection of consumer receivables acquired for liquidation — (10,039,000 ) (10,039,000 ) Net cash collections represented by account sales of consumer receivables acquired for liquidation — (2,000 ) (2,000 ) Impairment — (19,591,000 ) (19,591,000 ) Finance income recognized (1) — 5,074,000 5,074,000 Balance, end of period $ 0 $ 32,414,000 $ 32,414,000 Finance income as a percentage of collections 0 % 50.5 % 50.5 % (1) Includes $5.1 million derived from fully amortized pools. REVISED For the Three Months Ended June 30, 2013 Interest Cost Recovery Total Balance, beginning of period $ 6,813,000 $ 68,011,000 $ 74,824,000 Balance transferred to cost recovery – prior period adjustment (2,025,000 ) 2,025,000 — Adjustment for misapplication of the interest method to prior periods 7,539,000 812,000 8,351,000 Balance beginning of period, as revised 12,327,000 70,848,000 83,175,000 Acquisition of receivable portfolio — 3,340,000 3,340,000 Net cash collections from collection of consumer receivables acquired for liquidation (7,937,000 ) (5,481,000 ) (13,418,000 ) Net cash collections represented by account sales of consumer receivables acquired for liquidation (970,000 ) (1,037,000 ) (2,007,000 ) Impairment (37,000 ) (10,149,000 ) (10,186,000 ) Finance income recognized (1) 7,503,000 1,469,000 8,972,000 Balance, end of period $ 10,886,000 $ 58,990,000 $ 69,876,000 Finance income as a percentage of collections 84.2 % 22.5 % 58.2 % (1) Includes $7.3 million derived from fully amortized pools.
Changes in Accretable Yield	Changes in accretable yield for the nine month and three month periods ended June 30, 2014 and 2013 are as follows: RESTATED REVISED Nine Months Nine Months June 30, 2013 Balance at beginning of period $ 7,679,000 $ 13,508,000 Transfer to cost recovery (7,679,000 ) — Finance income recognized on finance receivables, net — (21,765,000 ) Reclassifications from nonaccretable difference (1) — 17,577,000 Balance at end of period $ 0 $ 9,320,000 Three Months Ended June 30, 2014 Three Months Ended June 30, 2013 Balance at beginning of period $ — $ 10,439,000 Finance income recognized on finance receivables, net — (7,503,000 ) Reclassifications from nonaccretable difference (1) — 6,384,000 Balance at end of period $ — $ 9,320,000 (1) Includes portfolios that became zero basis during the period, removal of zero basis portfolios from the accretable yield calculation and other immaterial impairments and accretions based on the extension of certain collection curves.
Collections on Gross Basis Less Commissions and Direct Costs	The following table summarizes collections on a gross basis as received by the Company’s third-party collection agencies and attorneys, less commissions and direct costs for the nine and three month periods ended June 30, 2014 and 2013, respectively. For the Nine Months Ended June 30, 2014 2013 Gross collections (1) $ 51,884,000 $ 66,371,000 Commissions and fees (2) 21,141,000 24,333,000 Net collections $ 30,743,000 $ 42,038,000 For the Three Months Ended June 30, 2014 2013 Gross collections (1) $ 18,192,000 $ 23,432,000 Commissions and fees (2) 8,151,000 8,007,000 Net collections $ 10,041,000 $ 15,425,000 (1) Gross collections include: collections from third-party collection agencies and attorneys, collections from in-house efforts, and collections represented by account sales. (2) Commissions and fees are the contractual commission earned by third party collection agencies and attorneys, and direct costs associated with the collection effort, generally court costs. Includes a 3% fee charged by a servicer on gross collections received by the Company in connection with one portfolio. Such arrangement was consummated in December 2007. The fee is charged for asset location, skip tracing and ultimately suing debtors in connection with this portfolio purchase.

Acquisition of CBC as restate34

Acquisition of CBC as restated and revised (Tables)	9 Months Ended
	Jun. 30, 2014
Fair Value of Assets Acquired and Liabilities Assumed	The following table summarizes the fair value of the assets acquired and the liabilities assumed as of the December 31, 2013 acquisition date: Cash $ 351,000 Structured settlements 30,436,000 Other assets 11,000 Other liabilities (356,000 ) Other debt (see Note 12: Other debt – CBC (including non-recourse notes payable amounting to $13.8 million) (25,863,000 ) Total identifiable net assets acquired 4,579,000 Goodwill (see Note 10: Goodwill) 1,360,000 Purchase Price $ 5,939,000

Structured Settlements (Tables)

Structured Settlements (Tables)	9 Months Ended
	Jun. 30, 2014
Components of Structured Settlements	Structured settlements consist of the following as of June 30, 2014: Maturity value $ 52,551,000 Unearned income (16,659,000 ) Net carrying value $ 35,892,000
Structured Settlements	Encumbrances on structured settlements as of June 30, 2014 are: Notes payable secured by settlement receivables with principal and interest outstanding payable until June 2025 (1) $ 2,599,000 Notes payable secured by settlement receivables with principal and interest outstanding payable until August 2026 (1) 5,498,000 Notes payable secured by settlement receivables with principal and interest outstanding payable until April 2032 (1) 4,894,000 $15,000,000 revolving line of credit (1) 14,443,000 Encumbered structured settlements 27,434,000 Structured settlements not encumbered 8,458,000 Total structured settlements $ 35,892,000 (1) See Note 12 — Other Debt — CBC
Expected Cash Flows of Structured Settlements Based on Maturity Value	At June 30, 2014, the expected cash flows of structured settlements based on maturity value are as follows: September 30, 2014 (three months remaining) $ 1,101,000 September 30, 2015 4,309,000 September 30, 2016 4,469,000 September 30, 2017 3,977,000 September 30, 2018 3,187,000 Thereafter 35,508,000 Total $ 52,551,000

Other Investments (Tables)

Other Investments (Tables)	9 Months Ended
	Jun. 30, 2014
Reserves for Bad Debts	Pegasus records reserves for bad debts, which, at June 30, 2014, amounted to $2.1 million as follows: Nine Months Three Months Balance at beginning of period $ 2,248,000 $ 1,916,000 Provisions for losses 955,000 756,000 Write offs (1,153,000 ) (622,000 ) Balance at end of period $ 2,050,000 $ 2,050,000

Furniture & Equipment (Tables)

Furniture & Equipment (Tables)	9 Months Ended
	Jun. 30, 2014
Furniture and Equipment	Furniture and equipment consist of the following as of the dates indicated: June 30, September 30, Furniture $ 310,000 $ 310,000 Equipment 3,622,000 3,622,000 Software 1,211,000 1,211,000 Leasehold improvements 99,000 99,000 5,242,000 5,242,000 Less accumulated depreciation 4,586,000 4,136,000 Balance, end of period $ 656,000 $ 1,106,000

Goodwill (Tables)

Goodwill (Tables)	9 Months Ended
	Jun. 30, 2014
Goodwill	The goodwill balances at September 30, 2013 and June 30, 2014 are as follows: Balance, September 30, 2013 $ 1,410,000 Goodwill from acquisition (see Note 6: Acquisition of CBC) 1,360,000 Balance, June 30, 2014 $ 2,770,000

Other Debt - CBC (Tables)

Other Debt - CBC (Tables)	9 Months Ended
	Jun. 30, 2014
CBC
Components of Other Debt from Acquisition	The following table details the other debt at June 30, 2014: Interest Rate June 30, Notes payable with varying monthly installments: Notes payable secured by settlement receivables with principal and interest outstanding payable until June 2025 8.75 % $ 2,599,000 Notes payable secured by settlement receivables with principal and interest outstanding payable until August 2026 7.25 % 5,498,000 Notes payable secured by settlement receivables with principal and interest outstanding payable until April 2032 7.125 % 4,894,000 Subtotal notes payable 12,991,000 $15,000,000 revolving line of credit expiring on February 28, 2015 4.75 % 14,443,000 Total debt – CBC $ 27,434,000

Net Income (Loss) per Share -40

Net Income (Loss) per Share - (Restated and Revised) (Tables)	9 Months Ended
	Jun. 30, 2014
Computation of Basic and Diluted per Share	The following table presents the computation of basic and diluted per share data for the nine months ended June 30, 2014 and 2013: RESTATED (1) REVISED (2) Nine Months Ended June 30, 2014 Nine Months Ended June 30, 2013 Net Income Weighted Average Shares Per Share Amount Net Income Weighted Average Shares Per Share Amount Basic $ 5,709,000 12,979,472 $ 0.44 $ 718,000 12,946,521 $ 0.06 Effect of Dilutive Stock 228,543 (0.01 ) 271,135 (0.01 ) Diluted $ 5,709,000 13,208,015 $ 0.43 $ 718,000 13,217,656 $ 0.05 (1) Net income and per share data have been restated as explained in Note 2 – Restatement of Quarterly Financial Statements and Revision of Prior Period Financial Statements. (2) Net income and per share data have been revised as explained in Note 2 – Restatement of Quarterly Financial Statements and Revision of Prior Period Financial Statements. (3) At June 30, 2014, 1,088,304 options at a weighted average exercise price of $11.88 were not included in the diluted earnings per share calculation as they were antidilutive. (4) At June 30, 2013, 575,669 options at a weighted average exercise price of $8.07 were not included in the diluted earnings per share calculation as they were antidilutive. The following table presents the computation of basic and diluted per share data for the three months ended June 30, 2014 and 2013: RESTATED (1) REVISED (2) Three Months Ended June 30, 2014 Three Months Ended June 30, 2013 (1) Net Income Weighted Average Shares (1) Per Share Amount (2) Net Income Weighted Average Shares (2) Per Share Amount Basic $ 4,687,000 12,984,882 $ 0.36 $ (3,369,000 ) 12,954,455 $ (0.26 ) Effect of Dilutive Stock 229,821 (0.01 ) — 0.00 Diluted $ 4,687,000 13,214,703 $ 0.35 $ (3,369,000 ) 12,954,455 $ (0.26 ) (1) Net income and per share data have been restated as explained in Note 2 – Restatement of Quarterly Financial Statements and Revision of Prior Period Financial Statements. (2) Net income and per share data have been revised as explained in Note 2 – Restatement of Quarterly Financial Statements and Revision of Prior Period Financial Statements.

Stock Based Compensation (Table

Stock Based Compensation (Tables)	9 Months Ended
	Jun. 30, 2014
Weighted Average Assumptions Used in Option Pricing Model	In February 2014, the Compensation Committee of the Board of Directors of the Company (“Compensation Committee”) granted 5,000 options to a former employee for past services. The exercise price of these options, issued on February 4, 2014, was at the market price on that date. The options vested immediately. The weighted average assumptions used in the option pricing model were as follows: Risk-free interest rate 0.06 % Expected term (years) 5.9 Expected volatility 35.3 % Dividend yield 0.00 % In December 2013, the Compensation Committee granted 156,700 stock options, of which 70,000 options were awarded to the Officers of the Company and the remaining 86,700 stock options were awarded to non-officer employees of the Company. The exercise price of these options, issued on December 12, 2013, was at the market price on that date. The options vest in three equal annual installments and accounted for as one graded vesting award. The weighted average assumptions used in the option pricing model were as follows: Risk-free interest rate 0.08 % Expected term (years) 6.5 Expected volatility 98.3 % Dividend yield 0.00 % In December 2012, the Compensation Committee granted 160,000 stock options, of which 65,000 options were awarded to three officers of the Company and 20,000 options were awarded to an employee of the Company. The remaining 75,000 shares were issued to six non-employee directors of the Company. The exercise price of these options, issued on December 18, 2012, was at the market price on that date. The options vest in three equal annual installments and accounted for as one graded vesting award. The weighted average assumptions used in the option pricing model were as follows: Risk-free interest rate 0.16 % Expected term (years) 6.0 Expected volatility 101.0 % Dividend yield 1.67 %

Stock Option Plans (Tables)

Stock Option Plans (Tables)	9 Months Ended
	Jun. 30, 2014
Stock Option Transactions	The following table summarizes stock option transactions under the 2012 Plan, the 2002 Plan, and the Equity Compensation Plan: Nine Months Ended June 30, 2014 2013 Shares Weighted Shares Weighted Outstanding options at the beginning of period 1,622,771 $ 11.31 1,499,471 $ 11.27 Options granted 161,700 8.48 210,000 9.36 Options exercised (11,500 ) 3.46 (29,500 ) 3.51 Options forfeited/canceled (210,767 ) 14.87 (50,000 ) 7.77 Outstanding options at the end of period 1,562,204 $ 10.66 1,629,971 $ 11.27 Exercisable options at the end of period 987,198 $ 11.97 1,112,037 $ 12.57 Three Months Ended June 30, 2014 2013 Shares Weighted Shares Weighted Average Exercise Price Outstanding options at the beginning of period 1,563,704 $ 10.65 1,655,871 $ 11.12 Options granted — — 50,000 8.69 Options exercised (1,500 ) 6.89 (25,900 ) 3.06 Options forfeited/canceled — — (50,000 ) 7.77 Outstanding options at the end of period 1,562,204 $ 10.66 1,629,971 $ 11.27 Exercisable options at the end of period 987,198 $ 11.97 1,112,037 $ 12.57
Summary of Outstanding Options	The following table summarizes information about the 2012 Plan, 2002 Plan, and the Equity Compensation Plan outstanding options as of June 30, 2014: Options Outstanding Options Exercisable Range of Exercise Price Weighted Weighted Weighted Number Weighted Average Exercise Price $ 2.8751 – $ 5.7500 7,500 4.8 $ 2.95 7,500 $ 2.95 $ 5.7501 – $ 8.6250 938,100 7.1 7.92 503,100 7.78 $ 8.6251 – $14.3750 260,000 8.3 9.77 119,994 10.25 $14.3751 – $17.2500 1,944 0.0 15.99 1,944 15.99 $17.2501 – $20.1250 339,660 0.3 18.23 339,660 18.23 $25.8751 – $28.7500 15,000 2.5 28.75 15,000 28.75 1,562,204 5.8 $ 10.66 987,198 $ 11.97
Summary of Restricted Stock Transactions	The following table summarizes information about restricted stock transactions: Nine Months Ended June 30, 2014 2013 Shares Weighted Shares Weighted Unvested at the beginning of period 102,321 $ 9.57 10,922 $ 7.63 Awards granted — — 102,321 9.57 Vested (34,107 ) 9.57 (10,922 ) 7.63 Forfeited — — — — Unvested at the end of period 68,214 $ 9.57 102,321 $ 9.57 Three Months Ended June 30, 2014 2013 Shares Weighted Shares Weighted Unvested at the beginning of period 68,214 $ 9.57 102,321 $ 9.57 Awards granted — — — — Vested — — — — Forfeited — — — — Unvested at the end of period 68,214 $ 9.57 102,321 $ 9.57

Fair Value of Financial Measu43

Fair Value of Financial Measurements and Disclosures (Restated and Revised) (Tables)	9 Months Ended
	Jun. 30, 2014
Estimated Fair Value of Company's Financial Instruments	The estimated fair value of the Company’s financial instruments is summarized as follows: RESTATED REVISED June 30, 2014 September 30, 2013 Carrying Fair Carrying Fair Financial assets Available-for-sale investments (Level 1) $ 70,205,000 $ 70,205,000 $ 58,035,000 $ 58,035,000 Consumer receivables acquired for liquidation (Level 3) 32,414,000 60,490,000 64,254,000 70,875,000 Structured settlements (Level 3) 35,892,000 35,892,000 — — Financial liabilities Non-recourse debt – BMO (Level 3) — — 35,760,000 27,000,000 Other debt – CBC, revolving line of credit (Level 3) 14,443,000 14,443,000 — — Other debt – CBC, non-recourse notes payable with varying installments (Level 3) 12,991,000 12,991,000 — —
Quantitative Information about Level 3 Fair Value Measurements	The following table sets forth the Company’s quantitative information about its Level 3 fair value measurements as of June 30, 2014: Fair Value Valuation Unobservable Rate Structured settlements at fair value $ 35,892,000 Discounted cash flow Discount rate 5.5 %
Changes in Structured Settlements at Fair Value Using Significant Unobservable Inputs (Level 3)	The changes in structured settlements at fair value using significant unobservable inputs (Level 3) during the nine months ended June 30, 2014 were as follows: Balance at September 30, 2013 $ 0 Acquisition of CBC (see Note 6) 30,436,000 Total gains included in earnings 1,440,000 Purchases 4,696,000 Sales — Interest accreted 1,475,000 Payments received (2,155,000 ) Total $ 35,892,000 The amount of total gains for the nine month period included in earnings attributable to the change in unrealized gains (losses) relating to assets held at June 30, 2014 $ 1,440,000 The changes in structured settlements at fair value using significant observable inputs (Level 3) during the three months ended June 30, 2014 were as follows: Balance at March 31, 2014 $ 33,330,000 Total gains included in earnings 620,000 Purchases 2,337,000 Sales — Interest accreted 767,000 Payments received (1,162,000 ) Total $ 35,892,000 The amount of total gains for the three month period included in earnings attributable to the change in unrealized gains (losses) relating to assets held at June 30, 2014 $ 620,000
Schedule of Realized and Unrealized Gains and Losses Included in Earnings in Accompanying Consolidated Statements of Income	Realized and unrealized gains and losses included in earnings in the accompanying consolidated statements of income for the nine months ended June 30, 2014 are reported in the following revenue categories: Total gains (losses) included in earnings in fiscal year 2014 $ 1,440,000 Change in unrealized gains (losses) relating to assets still held at June 30, 2014 $ 1,440,000 Realized and unrealized gains and losses included in earnings in the accompanying consolidated statements of income for the three months ended June 30, 2014 are reported in the following revenue categories: Total gains included in earnings in the three months ended June 30, 2014 $ 620,000 Change in unrealized gains (losses) relating to assets still held at June 30, 2014 $ 620,000

Business and Basis of Present44

Business and Basis of Presentation - Additional Information (Detail) - Jun. 30, 2014 - USD ($) $ in Millions	Total
Palisades XVI | Great Seneca
Basis Of Presentation And Significant Accounting Policies [Line Items]
Portfolio holdings amount	$ 21.6
Blue Bell Entities
Basis Of Presentation And Significant Accounting Policies [Line Items]
Structured settlement holding amount	14.4
Non-recourse notes payable	$ 13
Pegasus
Basis Of Presentation And Significant Accounting Policies [Line Items]
Ownership interest	80.00%
CBC
Basis Of Presentation And Significant Accounting Policies [Line Items]
Ownership interest	80.00%

Restatement of Quarterly Fina45

Restatement of Quarterly Financial Statements and Revision of Prior Period Financial Statements - Additional Information (Detail) - USD ($)		3 Months Ended				9 Months Ended
		Jun. 30, 2014		Jun. 30, 2013		Jun. 30, 2014		Jun. 30, 2013		Sep. 30, 2013
Error Corrections and Prior Period Adjustments Revision [Line Items]
Finance income on consumer receivables, net	[1]	$ 5,074,000	[2]	$ 8,972,000	[3]	$ 14,792,000	[4]	$ 25,040,000	[5]
Income tax expense (benefit)	[1]	2,973,000		(2,296,000)		3,808,000		443,000
Net income attributable to Asta Funding, Inc.	[1]	$ 4,687,000		$ (3,369,000)		$ 5,709,000		$ 718,000
Diluted	[1]	$ 0.35	[6]	$ (0.26)	[7]	$ 0.43	[6]	$ 0.05	[7]
Consumer receivables acquired for liquidation (at net realizable value)	[1]	$ 32,414,000				$ 32,414,000				$ 64,254,000
Deferred income taxes	[1]	8,091,000				8,091,000				7,772,000
Retained earnings	[1]	118,403,000				118,403,000				112,694,000
Adjustments
Error Corrections and Prior Period Adjustments Revision [Line Items]
Finance income on consumer receivables, net		(1,578,000)		$ (1,031,000)		(5,764,000)		$ (1,716,000)
Income tax expense (benefit)		(491,000)		(437,000)		(1,868,000)		(55,000)
Net income attributable to Asta Funding, Inc.		$ (777,000)		$ (632,000)		$ (3,586,000)		$ (15,000)
Diluted		$ (0.06)		$ (0.05)		$ (0.27)		$ (0.01)
Consumer receivables acquired for liquidation (at net realizable value)		$ 900,000				$ 900,000				6,400,000
Deferred income taxes		(803,000)				(803,000)				2,700,000
Retained earnings		97,000				97,000				$ 3,700,000
As Reported
Error Corrections and Prior Period Adjustments Revision [Line Items]
Finance income on consumer receivables, net		6,652,000		$ 10,003,000		20,556,000		$ 26,756,000
Income tax expense (benefit)		3,464,000		(1,859,000)		5,676,000		498,000
Net income attributable to Asta Funding, Inc.		$ 5,464,000		$ (2,737,000)		$ 9,295,000		$ 733,000
Diluted		$ 0.41		$ (0.21)		$ 0.70		$ 0.06
Consumer receivables acquired for liquidation (at net realizable value)		$ 31,514,000				$ 31,514,000
Deferred income taxes		8,894,000				8,894,000
Retained earnings		$ 118,306,000				$ 118,306,000
[1]	For discussion on the adjustments, see Note 2 - Restatement of Quarterly Financial Statements and Revision of Prior Period Financial statements.
[2]	Includes $5.1 million derived from fully amortized pools.
[3]	Includes $7.3 million derived from fully amortized pools.
[4]	Includes $14.8 million derived from fully amortized pools.
[5]	Includes $20.4 million derived from fully amortized pools.
[6]	Net income and per share data have been restated as explained in Note 2 - Restatement of Quarterly Financial Statements and Revision of Prior Period Financial Statements.
[7]	Net income and per share data have been revised as explained in Note 2 - Restatement of Quarterly Financial Statements and Revision of Prior Period Financial Statements.

Restatement and Revision of Pri

Restatement and Revision of Prior Period Adjustment on Consolidated Balance Sheet (Detail) - USD ($)		Jun. 30, 2014		Dec. 31, 2013	Sep. 30, 2013	Jun. 30, 2013	Sep. 30, 2012
ASSETS
Cash and cash equivalents	[1]	$ 26,017,000			$ 35,179,000	$ 38,252,000	$ 4,953,000
Available for sale investments	[1]	70,205,000			58,035,000
Consumer receivables acquired for liquidation (at net realizable value)	[1]	32,414,000			64,254,000
Structured settlements		35,892,000	[1]	$ 30,436,000
Investment in personal injury claims	[1]	31,733,000			35,758,000
Due from third party collection agencies and attorneys	[1]	1,138,000			1,169,000
Furniture and equipment, net	[1]	656,000			1,106,000
Deferred income taxes	[1]	8,091,000			7,772,000
Goodwill	[1]	2,770,000			1,410,000
Other assets	[1]	4,990,000			4,383,000
Total assets	[1]	213,906,000			211,530,000
LIABILITIES AND STOCKHOLDERS' EQUITY
Other debt - CBC (including non-recourse notes payable amounting to $13.0 million)	[1]	27,434,000
Other liabilities	[1]	2,723,000			2,486,000
Income taxes payable	[1]	3,084,000
Total liabilities	[1]	$ 33,241,000			$ 38,246,000
Commitments and contingencies	[1]
STOCKHOLDERS' EQUITY
Preferred stock, $0.01 par value; authorized 5,000,000; issued and outstanding - none	[1]
Common stock, $.01 par value, authorized 30,000,000 shares; issued and outstanding 12,985,739	[1]	$ 130,000			$ 149,000
Additional paid in capital	[1]	62,648,000			79,104,000
Retained earnings	[1]	118,403,000			112,694,000
Accumulated other comprehensive income	[1]	22,000			(674,000)
Non-controlling interest	[1]	(538,000)			(184,000)
Total stockholders' equity	[1]	180,665,000			173,284,000
Total liabilities and stockholders' equity	[1]	213,906,000			211,530,000
As Reported
ASSETS
Cash and cash equivalents		26,017,000			35,179,000	38,252,000	4,953,000
Available for sale investments		70,205,000
Consumer receivables acquired for liquidation (at net realizable value)		31,514,000
Structured settlements		35,892,000
Investment in personal injury claims		31,733,000
Due from third party collection agencies and attorneys		1,138,000
Furniture and equipment, net		656,000
Deferred income taxes		8,894,000
Goodwill		2,770,000
Other assets		4,990,000
Total assets		213,809,000
LIABILITIES AND STOCKHOLDERS' EQUITY
Other debt - CBC (including non-recourse notes payable amounting to $13.0 million)		27,434,000
Other liabilities		2,723,000
Income taxes payable		3,084,000
Total liabilities		$ 33,241,000
Commitments and contingencies
STOCKHOLDERS' EQUITY
Preferred stock, $0.01 par value; authorized 5,000,000; issued and outstanding - none
Common stock, $.01 par value, authorized 30,000,000 shares; issued and outstanding 12,985,739		$ 130,000
Additional paid in capital		62,648,000
Retained earnings		118,306,000
Accumulated other comprehensive income		22,000
Non-controlling interest		(538,000)
Total stockholders' equity		180,568,000			169,601,000
Total liabilities and stockholders' equity		213,809,000
Adjustments
ASSETS
Cash and cash equivalents		0			0	$ 0	$ 0
Available for sale investments		0
Consumer receivables acquired for liquidation (at net realizable value)		900,000			6,400,000
Structured settlements		0
Investment in personal injury claims		0
Due from third party collection agencies and attorneys		0
Furniture and equipment, net		0
Deferred income taxes		(803,000)			2,700,000
Goodwill		0
Other assets		0
Total assets		97,000
LIABILITIES AND STOCKHOLDERS' EQUITY
Other debt - CBC (including non-recourse notes payable amounting to $13.0 million)		0
Other liabilities		0
Income taxes payable		0
Total liabilities		$ 0
Commitments and contingencies
STOCKHOLDERS' EQUITY
Preferred stock, $0.01 par value; authorized 5,000,000; issued and outstanding - none
Common stock, $.01 par value, authorized 30,000,000 shares; issued and outstanding 12,985,739		$ 0
Additional paid in capital		0
Retained earnings		97,000			$ 3,700,000
Accumulated other comprehensive income		0
Non-controlling interest		0
Total stockholders' equity		97,000
Total liabilities and stockholders' equity		$ 97,000
[1]	For discussion on the adjustments, see Note 2 - Restatement of Quarterly Financial Statements and Revision of Prior Period Financial statements.

Restatement and Revision of P47

Restatement and Revision of Prior Period Adjustment on Consolidated Balance Sheet (Parenthetical) (Detail) - USD ($) $ / shares in Units, $ in Millions		Jun. 30, 2014		Dec. 31, 2013	Sep. 30, 2013
Error Corrections and Prior Period Adjustments Revision [Line Items]
Other debt, non-recourse notes payable		$ 13	[1]	$ 13.8
Preferred stock, par value	[1]	$ 0.01			$ 0.01
Preferred stock, shares authorized	[1]	5,000,000			5,000,000
Preferred stock, shares issued	[1]	0			0
Preferred stock, shares outstanding	[1]	0			0
Common stock, par value	[1]	$ 0.01			$ 0.01
Common stock, shares authorized	[1]	30,000,000			30,000,000
Common stock, shares issued	[1]	12,985,739			14,917,977
Common stock, shares outstanding	[1]	12,985,739			12,974,239
As Reported
Error Corrections and Prior Period Adjustments Revision [Line Items]
Other debt, non-recourse notes payable		$ 13
Preferred stock, par value		$ 0.01
Preferred stock, shares authorized		5,000,000
Preferred stock, shares issued		0
Preferred stock, shares outstanding		0
Common stock, par value		$ 0.01
Common stock, shares authorized		30,000,000
Common stock, shares issued		12,985,739
Common stock, shares outstanding		12,985,739
[1]	For discussion on the adjustments, see Note 2 - Restatement of Quarterly Financial Statements and Revision of Prior Period Financial statements.

Restatement and Revision of P48

Restatement and Revision of Prior Period Adjustment on Condensed Consolidated Statements of Income (Detail) - Entity [Domain] - USD ($)		3 Months Ended				9 Months Ended
		Jun. 30, 2014		Jun. 30, 2013		Jun. 30, 2014		Jun. 30, 2013
Revenues:
Finance income on consumer receivables, net	[1]	$ 5,074,000	[2]	$ 8,972,000	[3]	$ 14,792,000	[4]	$ 25,040,000	[5]
Personal injury claims income	[1]	1,779,000		2,287,000		5,724,000		4,921,000
Unrealized gain on structured settlements	[1]	620,000				1,440,000
Interest income on structured settlements	[1]	786,000				1,501,000
Total revenues	[1]	8,259,000		11,259,000		23,457,000		29,961,000
Forgiveness of non-recourses debt	[1]	26,101,000				26,101,000
Other income (includes $116,000 accumulated other comprehensive income reclassification for unrealized net loss on available for sale securities)	[1]	336,000		378,000		1,370,000		1,628,000
Revenues	[1]	34,696,000		11,637,000		50,928,000		31,589,000
Expenses:
General and administrative	[1]	7,012,000		6,545,000		20,517,000		17,926,000
Interest expense	[1]	413,000		518,000		820,000		1,621,000
Impairments of consumer receivables acquired for liquidation	[1]	19,591,000		10,186,000		19,591,000		10,705,000
Total expenses	[1]	27,016,000		17,249,000		40,928,000		30,252,000
(Loss) before income tax (benefit)	[1]	7,680,000		(5,612,000)		10,000,000		1,337,000
Income tax (benefit) (includes tax expense of $5,000 accumulated other comprehensive income reclassification for unrealized net gain on available for sale securities)	[1]	2,973,000		(2,296,000)		3,808,000		443,000
Net income	[1]	4,707,000		(3,316,000)		6,192,000		894,000
Less: net income attributable to non-controlling interest	[1]	20,000		53,000		483,000		176,000
Net (loss) attributable to Asta Funding, Inc.	[1]	$ 4,687,000		$ (3,369,000)		$ 5,709,000		$ 718,000
Net (loss) per share attributable to Asta Funding, Inc.:
Basic	[1]	$ 0.36	[6]	$ (0.26)	[7]	$ 0.44	[6]	$ 0.06	[7]
Diluted	[1]	$ 0.35	[6]	$ (0.26)	[7]	$ 0.43	[6]	$ 0.05	[7]
Weighted average number of shares outstanding:
Basic	[1]	12,984,882	[6]	12,954,455	[7]	12,979,472	[6]	12,946,521	[7]
Diluted	[1]	13,214,703	[6]	12,954,455	[7]	13,208,015	[6]	13,217,656	[7]
As Reported
Revenues:
Finance income on consumer receivables, net		$ 6,652,000		$ 10,003,000		$ 20,556,000		$ 26,756,000
Personal injury claims income		1,779,000		2,287,000		5,724,000		4,921,000
Unrealized gain on structured settlements		620,000				1,440,000
Interest income on structured settlements		786,000				1,501,000
Total revenues		9,837,000		12,290,000		29,221,000		31,677,000
Forgiveness of non-recourses debt		26,101,000				26,101,000
Other income (includes $116,000 accumulated other comprehensive income reclassification for unrealized net loss on available for sale securities)		336,000		378,000		1,370,000		1,628,000
Revenues		36,274,000		12,668,000		56,692,000		33,305,000
Expenses:
General and administrative		7,012,000		6,545,000		20,517,000		17,926,000
Interest expense		413,000		518,000		820,000		1,621,000
Impairments of consumer receivables acquired for liquidation		19,901,000		10,148,000		19,901,000		12,351,000
Total expenses		27,326,000		17,211,000		41,238,000		31,898,000
(Loss) before income tax (benefit)		8,948,000		(4,543,000)		15,454,000		1,407,000
Income tax (benefit) (includes tax expense of $5,000 accumulated other comprehensive income reclassification for unrealized net gain on available for sale securities)		3,464,000		(1,859,000)		5,676,000		498,000
Net income		5,484,000		(2,684,000)		9,778,000		909,000
Less: net income attributable to non-controlling interest		20,000		53,000		483,000		176,000
Net (loss) attributable to Asta Funding, Inc.		$ 5,464,000		$ (2,737,000)		$ 9,295,000		$ 733,000
Net (loss) per share attributable to Asta Funding, Inc.:
Basic		$ 0.42		$ (0.21)		$ 0.72		$ 0.06
Diluted		$ 0.41		$ (0.21)		$ 0.70		$ 0.06
Weighted average number of shares outstanding:
Basic		12,984,882		12,954,455		12,979,472		12,946,521
Diluted		13,214,703		12,954,455		13,208,015		13,217,656
Adjustments
Revenues:
Finance income on consumer receivables, net		$ (1,578,000)		$ (1,031,000)		$ (5,764,000)		$ (1,716,000)
Personal injury claims income		0		0		0		0
Unrealized gain on structured settlements		0				0
Interest income on structured settlements		0				0
Total revenues		(1,578,000)		(1,031,000)		(5,764,000)		(1,716,000)
Forgiveness of non-recourses debt						0
Other income (includes $116,000 accumulated other comprehensive income reclassification for unrealized net loss on available for sale securities)		0		0		0		0
Revenues		(1,578,000)		(1,031,000)		(5,764,000)		(1,716,000)
Expenses:
General and administrative		0		0		0		0
Interest expense		0		0		0		0
Impairments of consumer receivables acquired for liquidation		(310,000)		38,000		(310,000)		(1,646,000)
Total expenses		(310,000)		38,000		(310,000)		(1,646,000)
(Loss) before income tax (benefit)		(1,268,000)		(1,069,000)		(5,454,000)		(70,000)
Income tax (benefit) (includes tax expense of $5,000 accumulated other comprehensive income reclassification for unrealized net gain on available for sale securities)		(491,000)		(437,000)		(1,868,000)		(55,000)
Net income		(777,000)		(632,000)		(3,586,000)		(15,000)
Less: net income attributable to non-controlling interest		0		0		0		0
Net (loss) attributable to Asta Funding, Inc.		$ (777,000)		$ (632,000)		$ (3,586,000)		$ (15,000)
Net (loss) per share attributable to Asta Funding, Inc.:
Basic		$ (0.06)		$ (0.05)		$ (0.28)		$ 0
Diluted		$ (0.06)		$ (0.05)		$ (0.27)		$ (0.01)
[1]	For discussion on the adjustments, see Note 2 - Restatement of Quarterly Financial Statements and Revision of Prior Period Financial statements.
[2]	Includes $5.1 million derived from fully amortized pools.
[3]	Includes $7.3 million derived from fully amortized pools.
[4]	Includes $14.8 million derived from fully amortized pools.
[5]	Includes $20.4 million derived from fully amortized pools.
[6]	Net income and per share data have been restated as explained in Note 2 - Restatement of Quarterly Financial Statements and Revision of Prior Period Financial Statements.
[7]	Net income and per share data have been revised as explained in Note 2 - Restatement of Quarterly Financial Statements and Revision of Prior Period Financial Statements.

Restatement and Revision of P49

Restatement and Revision of Prior Period Adjustment on Condensed Consolidated Statements of Income (Parenthetical) (Detail) - USD ($)		3 Months Ended		9 Months Ended
		Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Error Corrections and Prior Period Adjustments Revision [Line Items]
Reclassifications for unrealized net (losses) / gains on available for sale securities	[1]	$ (116,000)	$ 17,000	$ (141,000)	$ 192,000
Income tax benefit	[1]	$ (47,000)	$ 5,000	$ (57,000)	$ 76,000
[1]	For discussion on the adjustments, see Note 2 - Restatement of Quarterly Financial Statements and Revision of Prior Period Financial statements.

Restatement and Revision of P50

Restatement and Revision of Prior Period Adjustment on Condensed Consolidated Statements of Cash Flows (Detail) - USD ($)		3 Months Ended		9 Months Ended
		Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014		Jun. 30, 2013
Cash flows from operating activities
Net income	[1]	$ 4,707,000	$ (3,316,000)	$ 6,192,000		$ 894,000
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	[1]			450,000		450,000
Deferred income taxes	[1]			(773,000)		29,000
Impairment of consumer receivables acquired for liquidation	[1]	19,591,000	10,186,000	19,591,000		10,705,000
Stock based compensation	[1]			1,290,000		1,498,000
Loss / (gain) on sale of available-for-sale securities	[1]			141,000		(192,000)
Structured settlements - accrued interest	[1]			(1,475,000)
Structured settlements - gains	[1]			(1,440,000)
Forgiveness of non-recourses debt	[1]	(26,101,000)		(26,101,000)
Changes in:
Prepaid and income taxes receivable	[1]			1,496,000		382,000
Due from third party collection agencies and attorneys	[1]			31,000		802,000
Other assets	[1]			(596,000)		(2,369,000)
Income taxes payable	[1]			3,084,000
Other liabilities	[1]			(119,000)		(1,104,000)
Net cash provided by operating activities	[1]			1,771,000		11,095,000
Cash flows from investing activities
Purchase of consumer receivables acquired for liquidation		(2,733,000)	(3,340,000)	(3,702,000)	[1]	(3,340,000)	[1]
Principal collected on receivables acquired for liquidation	[1]			15,950,000		16,567,000
Principal collected on receivables accounts represented by account sales	[1]			1,000		432,000
Purchase of available-for-sale securities	[1]			(19,845,000)		(29,907,000)
Proceeds from sale of available-for-sale securities	[1]			8,684,000		28,918,000
Cash paid for acquisition (net of cash acquired)	[1]			(5,588,000)
Proceeds from maturities of certificates of deposit	[1]					33,918,000
Investments in personal injury claims - advances	[1]			(16,392,000)		(22,863,000)
Investments in personal injury claims - receipts	[1]			20,417,000		9,162,000
Investment in structured settlements - advances	[1]			(4,696,000)
Capital expenditures	[1]					(725,000)
Investments in structured settlements - receipts	[1]			2,155,000
Net cash (used in) provided by investing activities	[1]			(3,016,000)		32,162,000
Cash flows from financing activities
Proceeds from exercise of stock options	[1]			40,000		103,000
Changes in restricted cash	[1]			968,000		21,000
Distribution to non-controlling interest	[1]			(837,000)
Repayment of non-recourse debt	[1]			(9,659,000)		(7,213,000)
Borrowings of other debt	[1]			4,131,000
Dividends paid	[1]					(1,290,000)
Repayments of other debt	[1]			(2,560,000)
Purchase of treasury stock	[1]					(1,579,000)
Net cash used in financing activities	[1]			(7,917,000)		(9,958,000)
Net (decrease) increase in cash and cash equivalents	[1]			(9,162,000)		33,299,000
Cash and cash equivalents at beginning of period	[1]			35,179,000		4,953,000
Cash and cash equivalents at end of period	[1]	26,017,000	38,252,000	26,017,000		38,252,000
Cash paid for:
Interest	[1]			678,000		1,645,000
Supplemental disclosures of non-cash investing and financing activities:
Structured settlements	[1]			30,436,000
Other debt - CBC	[1]			23,363,000
Retirement of treasury stock	[1]			17,805,000
As Reported
Cash flows from operating activities
Net income		5,484,000	(2,684,000)	9,778,000		909,000
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization				450,000		450,000
Deferred income taxes				1,095,000		85,000
Impairment of consumer receivables acquired for liquidation		19,901,000	10,148,000	19,901,000		12,351,000
Stock based compensation				1,290,000		1,498,000
Loss / (gain) on sale of available-for-sale securities				141,000		(192,000)
Structured settlements - accrued interest				(1,475,000)
Structured settlements - gains				(1,440,000)
Forgiveness of non-recourses debt		(26,101,000)		(26,101,000)
Changes in:
Prepaid and income taxes receivable				1,496,000		382,000
Due from third party collection agencies and attorneys				31,000		802,000
Other assets				(596,000)		(2,369,000)
Income taxes payable				3,084,000
Other liabilities				(119,000)		(1,104,000)
Net cash provided by operating activities				7,535,000		12,812,000
Cash flows from investing activities
Purchase of consumer receivables acquired for liquidation				(3,702,000)		(3,340,000)
Principal collected on receivables acquired for liquidation				10,186,000		14,850,000
Principal collected on receivables accounts represented by account sales				1,000		432,000
Purchase of available-for-sale securities				(19,845,000)		(29,907,000)
Proceeds from sale of available-for-sale securities				8,684,000		28,918,000
Cash paid for acquisition (net of cash acquired)				(5,588,000)
Proceeds from maturities of certificates of deposit						33,918,000
Investments in personal injury claims - advances				(16,392,000)		(22,863,000)
Investments in personal injury claims - receipts				20,417,000		9,162,000
Investment in structured settlements - advances				(4,696,000)
Capital expenditures						(725,000)
Investments in structured settlements - receipts				2,155,000
Net cash (used in) provided by investing activities				(8,780,000)		30,445,000
Cash flows from financing activities
Proceeds from exercise of stock options				40,000		103,000
Changes in restricted cash				968,000		21,000
Distribution to non-controlling interest				(837,000)
Repayment of non-recourse debt				(9,659,000)		(7,213,000)
Borrowings of other debt				4,131,000
Dividends paid						(1,290,000)
Repayments of other debt				(2,560,000)
Purchase of treasury stock						(1,579,000)
Net cash used in financing activities				(7,917,000)		(9,958,000)
Net (decrease) increase in cash and cash equivalents				(9,162,000)		33,299,000
Cash and cash equivalents at beginning of period				35,179,000		4,953,000
Cash and cash equivalents at end of period		26,017,000	38,252,000	26,017,000		38,252,000
Cash paid for:
Interest				678,000		1,645,000
Supplemental disclosures of non-cash investing and financing activities:
Structured settlements				30,436,000
Other debt - CBC				23,363,000
Retirement of treasury stock				17,805,000
Adjustments
Cash flows from operating activities
Net income		(777,000)	(632,000)	(3,586,000)		(15,000)
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization				0		0
Deferred income taxes				(1,868,000)		(56,000)
Impairment of consumer receivables acquired for liquidation		(310,000)	38,000	(310,000)		(1,646,000)
Stock based compensation				0		0
Loss / (gain) on sale of available-for-sale securities				0		0
Structured settlements - accrued interest				0
Structured settlements - gains				0
Forgiveness of non-recourses debt				0
Changes in:
Prepaid and income taxes receivable				0		0
Due from third party collection agencies and attorneys				0		0
Other assets				0		0
Income taxes payable				0
Other liabilities				0		0
Net cash provided by operating activities				(5,764,000)		(1,717,000)
Cash flows from investing activities
Purchase of consumer receivables acquired for liquidation				0		0
Principal collected on receivables acquired for liquidation				5,764,000		1,717,000
Principal collected on receivables accounts represented by account sales				0		0
Purchase of available-for-sale securities				0		0
Proceeds from sale of available-for-sale securities				0		0
Cash paid for acquisition (net of cash acquired)				0
Proceeds from maturities of certificates of deposit						0
Investments in personal injury claims - advances				0		0
Investments in personal injury claims - receipts				0		0
Investment in structured settlements - advances				0
Capital expenditures						0
Investments in structured settlements - receipts				0
Net cash (used in) provided by investing activities				5,764,000		1,717,000
Cash flows from financing activities
Proceeds from exercise of stock options				0		0
Changes in restricted cash				0		0
Distribution to non-controlling interest				0
Repayment of non-recourse debt				0		0
Borrowings of other debt				0
Dividends paid						0
Repayments of other debt				0
Purchase of treasury stock						0
Net cash used in financing activities				0		0
Net (decrease) increase in cash and cash equivalents				0		0
Cash and cash equivalents at beginning of period				0		0
Cash and cash equivalents at end of period		$ 0	$ 0	0		0
Cash paid for:
Interest				0		$ 0
Supplemental disclosures of non-cash investing and financing activities:
Structured settlements				0
Other debt - CBC				0
Retirement of treasury stock				$ 0
[1]	For discussion on the adjustments, see Note 2 - Restatement of Quarterly Financial Statements and Revision of Prior Period Financial statements.

Available for Sale (Detail)

Available for Sale (Detail) - USD ($)		Jun. 30, 2014	Sep. 30, 2013
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost		$ 70,171,000	$ 59,151,000
Unrealized Gains		292,000	27,000
Unrealized Losses		(258,000)	(1,143,000)
Fair Value	[1]	$ 70,205,000	$ 58,035,000
[1]	For discussion on the adjustments, see Note 2 - Restatement of Quarterly Financial Statements and Revision of Prior Period Financial statements.

Investments - Additional Inform

Investments - Additional Information (Detail)	3 Months Ended		9 Months Ended
	Jun. 30, 2014USD ($)Investment	Jun. 30, 2013USD ($)Investment	Jun. 30, 2014USD ($)Investment	Jun. 30, 2013USD ($)Investment
Investments [Line Items]
Number of investments sold	1	1	2	3
Realized gain (loss) of investment | $	$ (116,000)	$ 17,000	$ (141,000)	$ 192,000
Number of investments	7		7
Number of unrealized loss position existed for 12 months or more	5		5

Consumer Receivables Acquired53

Consumer Receivables Acquired for Liquidation (Restated and Revised) - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013	Mar. 31, 2007
Consumer Receivables Acquired For Liquidation [Line Items]
Consumer receivables acquired for liquidation concentrated in one portfolio	$ 21.6		$ 21.6
Portfolio purchase	300		300		$ 300
Face value of charged-off consumer receivables	35.9	$ 53.5	53	$ 53.5
Purchased cost of charged-off consumer receivables	$ 2.7	$ 3.3	$ 3.7	$ 3.3

Changes in Balance Sheet Accoun

Changes in Balance Sheet Account of Consumer Receivables Acquired for Liquidation (Detail) - USD ($)		3 Months Ended				9 Months Ended
		Jun. 30, 2014		Jun. 30, 2013		Jun. 30, 2014		Jun. 30, 2013
Consumer Receivables Acquired For Liquidation [Line Items]
Balance, beginning of period		$ 54,239,000		$ 83,175,000		$ 64,254,000		$ 94,239,000
Acquisition of receivable portfolio		2,733,000		3,340,000		3,702,000	[1]	3,340,000	[1]
Net cash collections from collection of consumer receivables acquired for liquidation		(10,039,000)		(13,418,000)		(30,739,000)		(40,014,000)
Net cash collections represented by account sales of consumer receivables acquired for liquidation		(2,000)		(2,007,000)		(4,000)		(2,024,000)
Impairment	[1]	(19,591,000)		(10,186,000)		(19,591,000)		(10,705,000)
Finance income recognized	[1]	5,074,000	[2]	8,972,000	[3]	14,792,000	[4]	25,040,000	[5]
Balance, end of period		$ 32,414,000		$ 69,876,000		$ 32,414,000		$ 69,876,000
Finance income as a percentage of collections		50.50%		58.20%		48.10%		59.60%
As Reported
Consumer Receivables Acquired For Liquidation [Line Items]
Balance, beginning of period		$ 52,071,000		$ 74,824,000		$ 57,900,000		$ 86,887,000
Acquisition of receivable portfolio						3,702,000		3,340,000
Impairment		(19,901,000)		(10,148,000)		(19,901,000)		(12,351,000)
Finance income recognized		6,652,000		10,003,000		20,556,000		26,756,000
Adjustments
Consumer Receivables Acquired For Liquidation [Line Items]
Adjustment for misapplication of the interest method to prior periods		2,168,000		8,351,000		6,354,000		7,352,000
Acquisition of receivable portfolio						0		0
Impairment		310,000		(38,000)		310,000		1,646,000
Finance income recognized		(1,578,000)		(1,031,000)		(5,764,000)		(1,716,000)
Interest Method
Consumer Receivables Acquired For Liquidation [Line Items]
Balance, beginning of period				12,327,000		13,121,000		15,486,000
Reclassification of interest method portfolios to cost recovery method						(13,121,000)
Net cash collections from collection of consumer receivables acquired for liquidation				(7,937,000)				(24,832,000)
Net cash collections represented by account sales of consumer receivables acquired for liquidation				(970,000)				(977,000)
Impairment				(37,000)				(556,000)
Finance income recognized				7,503,000	[3]			21,765,000	[5]
Balance, end of period		$ 0		$ 10,886,000		$ 0		$ 10,886,000
Finance income as a percentage of collections		0.00%		84.20%		0.00%		84.30%
Interest Method | As Reported
Consumer Receivables Acquired For Liquidation [Line Items]
Balance, beginning of period		$ 6,970,000		$ 6,813,000		$ 8,071,000		$ 12,326,000
Interest Method | Adjustments
Consumer Receivables Acquired For Liquidation [Line Items]
Balance transferred to cost recovery - prior period adjustment		(989,000)		(2,025,000)		(1,304,000)		(2,692,000)
Adjustment for misapplication of the interest method to prior periods		(5,981,000)		7,539,000		6,354,000		5,852,000
Cost Recovery Method
Consumer Receivables Acquired For Liquidation [Line Items]
Balance, beginning of period		54,239,000		70,848,000		51,133,000		78,753,000
Reclassification of interest method portfolios to cost recovery method						13,121,000
Acquisition of receivable portfolio		2,733,000		3,340,000		3,702,000		3,340,000
Net cash collections from collection of consumer receivables acquired for liquidation		(10,039,000)		(5,481,000)		(30,739,000)		(15,182,000)
Net cash collections represented by account sales of consumer receivables acquired for liquidation		(2,000)		(1,037,000)		(4,000)		(1,047,000)
Impairment		(19,591,000)		(10,149,000)		(19,591,000)		(10,149,000)
Finance income recognized		5,074,000	[2]	1,469,000	[3]	14,792,000	[4]	3,275,000	[5]
Balance, end of period		$ 32,414,000		$ 58,990,000		$ 32,414,000		$ 58,990,000
Finance income as a percentage of collections		50.50%		22.50%		48.10%		20.20%
Cost Recovery Method | As Reported
Consumer Receivables Acquired For Liquidation [Line Items]
Balance, beginning of period		$ 45,101,000		$ 68,011,000		$ 49,829,000		$ 74,561,000
Cost Recovery Method | Adjustments
Consumer Receivables Acquired For Liquidation [Line Items]
Balance transferred to cost recovery - prior period adjustment		989,000		2,025,000		$ 1,304,000		2,692,000
Adjustment for misapplication of the interest method to prior periods		$ 8,149,000		$ 812,000				$ 1,500,000
[1]	For discussion on the adjustments, see Note 2 - Restatement of Quarterly Financial Statements and Revision of Prior Period Financial statements.
[2]	Includes $5.1 million derived from fully amortized pools.
[3]	Includes $7.3 million derived from fully amortized pools.
[4]	Includes $14.8 million derived from fully amortized pools.
[5]	Includes $20.4 million derived from fully amortized pools.

Changes in Balance Sheet Acco55

Changes in Balance Sheet Account of Consumer Receivables Acquired for Liquidation (Parenthetical) (Detail) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Consumer Receivables Acquired For Liquidation [Line Items]
Fully amortized portfolios	$ 5.1	$ 7.3	$ 14.8	$ 20.4

Changes in Accretable Yield (De

Changes in Accretable Yield (Detail) - USD ($)		3 Months Ended	9 Months Ended
		Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Consumer Receivables Acquired For Liquidation [Line Items]
Balance at beginning of period		$ 10,439,000	$ 7,679,000	$ 13,508,000
Transfer to cost recovery			(7,679,000)
Finance income recognized on finance receivables, net		(7,503,000)		(21,765,000)
Reclassifications from nonaccretable difference	[1]	6,384,000		17,577,000
Balance at end of period		$ 9,320,000	$ 0	$ 9,320,000
[1]	Includes portfolios that became zero basis during the period, removal of zero basis portfolios from the accretable yield calculation and other immaterial impairments and accretions based on the extension of certain collection curves.

Collections on Gross Basis Less

Collections on Gross Basis Less Commissions and Direct Costs (Detail) - USD ($)		3 Months Ended		9 Months Ended
		Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Consumer Receivables Acquired For Liquidation [Line Items]
Gross collections	[1]	$ 18,192,000	$ 23,432,000	$ 51,884,000	$ 66,371,000
Commissions and fees	[2]	8,151,000	8,007,000	21,141,000	24,333,000
Net collections		$ 10,041,000	$ 15,425,000	$ 30,743,000	$ 42,038,000
[1]	Gross collections include: collections from third-party collection agencies and attorneys, collections from in-house efforts, and collections represented by account sales.
[2]	Commissions and fees are the contractual commission earned by third party collection agencies and attorneys, and direct costs associated with the collection effort, generally court costs. Includes a 3% fee charged by a servicer on gross collections received by the Company in connection with one portfolio. Such arrangement was consummated in December 2007. The fee is charged for asset location, skip tracing and ultimately suing debtors in connection with this portfolio purchase.

Collections on Gross Basis Le58

Collections on Gross Basis Less Commissions and Direct Costs (Parenthetical) (Detail)	9 Months Ended
	Jun. 30, 2014
Consumer Receivables Acquired For Liquidation [Line Items]
Fee charged on portfolio purchase	3.00%

Acquisition of CBC as Restate59

Acquisition of CBC as Restated and Revised - Additional Information (Detail) - Entity [Domain] - USD ($)		3 Months Ended				9 Months Ended
		Jun. 30, 2014		Dec. 31, 2013	Jun. 30, 2013	Jun. 30, 2014		Jun. 30, 2013
Business Acquisition [Line Items]
Total Revenue	[1]	$ 8,259,000			$ 11,259,000	$ 23,457,000		$ 29,961,000
Pro forma basis, total revenues						25,092,000		32,881,000
Net income attributable to Asta Funding, Inc.	[1]	4,687,000			(3,369,000)	5,709,000		718,000
Pro forma basis, net income attributable to Asta Funding, Inc						5,751,000		697,000
Settlement income earned		1,400,000				2,900,000
Net invested balance in structured settlements		35,892,000	[1]	$ 30,436,000		35,892,000	[1]
Net income (loss) attributable to non-controlling interest	[1]	20,000			$ 53,000	483,000		$ 176,000
CBC
Business Acquisition [Line Items]
Ownership interest acquired, percent				80.00%
Purchase price				$ 5,900,000
Financing to CBC				$ 5,000,000
Non-controlling ownership interest, percent				20.00%
Minimum distribution to be received by parent before distribution to noncontrolling Interests				$ 2,337,190
Fair value of non controlling interest				$ 0
Net income (loss) attributable to non-controlling interest		$ (34,000)				$ (13,000)
[1]	For discussion on the adjustments, see Note 2 - Restatement of Quarterly Financial Statements and Revision of Prior Period Financial statements.

Fair Value of Assets Acquired a

Fair Value of Assets Acquired and Liabilities Assumed (Detail) - USD ($)	3 Months Ended	9 Months Ended
	Dec. 31, 2013	Jun. 30, 2014
Business Acquisition [Line Items]
Cash	$ 351,000
Structured settlements	30,436,000	$ 35,892,000	[1]
Other assets	11,000
Other liabilities	(356,000)
Other debt (see Note 12: Other debt - CBC (including non-recourse notes payable amounting to $13.8 million)	(25,863,000)
Total identifiable net assets acquired	4,579,000
Goodwill (see Note 10: Goodwill)	1,360,000	$ 1,360,000
Purchase Price	$ 5,939,000
[1]	For discussion on the adjustments, see Note 2 - Restatement of Quarterly Financial Statements and Revision of Prior Period Financial statements.

Fair Value of Assets Acquired61

Fair Value of Assets Acquired and Liabilities Assumed (Parenthetical) (Detail) - USD ($) $ in Millions	Jun. 30, 2014	[1]	Dec. 31, 2013
Business Acquisition [Line Items]
Non-recourse notes payable	$ 13		$ 13.8
[1]	For discussion on the adjustments, see Note 2 - Restatement of Quarterly Financial Statements and Revision of Prior Period Financial statements.

Components of Structured Settle

Components of Structured Settlements (Detail) - USD ($)	Jun. 30, 2014		Dec. 31, 2013
Accounts, Notes, Loans and Financing Receivable [Line Items]
Maturity value	$ 52,551,000
Unearned income	(16,659,000)
Net carrying value	$ 35,892,000	[1]	$ 30,436,000
[1]	For discussion on the adjustments, see Note 2 - Restatement of Quarterly Financial Statements and Revision of Prior Period Financial statements.

Structured Settlements (Detail)

Structured Settlements (Detail) - Structured Settlement		Jun. 30, 2014USD ($)
Debt Instrument [Line Items]
$15,000,000 revolving line of credit	[1]	$ 14,443,000
Total structured settlements		35,892,000
Notes payable secured by settlement receivables with principal and interest outstanding payable until June 2025
Debt Instrument [Line Items]
Notes payable secured by settlement receivables with all principal and interest outstanding payable, Fair value	[1]	2,599,000
Notes payable secured by settlement receivables with principal and interest outstanding payable until August 2026
Debt Instrument [Line Items]
Notes payable secured by settlement receivables with all principal and interest outstanding payable, Fair value	[1]	5,498,000
Notes payable secured by settlement receivables with principal and interest outstanding payable until April 2032
Debt Instrument [Line Items]
Notes payable secured by settlement receivables with all principal and interest outstanding payable, Fair value	[1]	4,894,000
Structured Settlements Encumbered
Debt Instrument [Line Items]
Total structured settlements		27,434,000
Structured Settlements Not Encumbered
Debt Instrument [Line Items]
Total structured settlements		$ 8,458,000
[1]	See Note 12 - Other Debt - CBC

Structured Settlements (Parenth

Structured Settlements (Parenthetical) (Detail) - USD ($)		9 Months Ended
		Jun. 30, 2014	May. 02, 2014
Debt Instrument [Line Items]
Line of credit, Current borrowing capacity			$ 20,000,000
Structured Settlement
Debt Instrument [Line Items]
Line of credit, Current borrowing capacity		$ 15,000,000
Notes payable secured by settlement receivables with principal and interest outstanding payable until June 2025 | Structured Settlement
Debt Instrument [Line Items]
Notes payable secured by settlement receivables with all principal and interest outstanding payable	[1]	2025-06
Notes payable secured by settlement receivables with principal and interest outstanding payable until August 2026 | Structured Settlement
Debt Instrument [Line Items]
Notes payable secured by settlement receivables with all principal and interest outstanding payable	[1]	2026-08
Notes payable secured by settlement receivables with principal and interest outstanding payable until April 2032 | Structured Settlement
Debt Instrument [Line Items]
Notes payable secured by settlement receivables with all principal and interest outstanding payable	[1]	2032-04
[1]	See Note 12 - Other Debt - CBC

Expected Cash Flows of Structur

Expected Cash Flows of Structured Settlements Based on Maturity Value (Detail)	Jun. 30, 2014USD ($)
Accounts, Notes, Loans and Financing Receivable [Line Items]
September 30, 2014 (three months remaining)	$ 1,101,000
September 30, 2015	4,309,000
September 30, 2016	4,469,000
September 30, 2017	3,977,000
September 30, 2018	3,187,000
Thereafter	35,508,000
Total	$ 52,551,000

Other Investments - Additional

Other Investments - Additional Information (Detail) - USD ($)		May. 18, 2012	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013	Sep. 30, 2013	Mar. 27, 2014
Other Investments [Line Items]
Net income (loss) attributable to non-controlling interest	[1]		$ 20,000	$ 53,000	$ 483,000	$ 176,000
Revolving line of credit		$ 1,000,000
Bearing interest at prime rate, with initial term		24 months
Contract term extension period		6 months
Company's investment in cases through BPCM			2,300,000		2,300,000
Company's investment in cases through BPCM, reserve established amount					500,000
investment in matrimonial cases							$ 1,600,000
Recognized revenue through BPCM					0	0
Pegasus Legal Funding LLC
Other Investments [Line Items]
Earnings in interest and fees			1,700,000	2,300,000	5,700,000	4,900,000
Company's investment in personal injury					31,700,000		35,800,000
Net income (loss) attributable to non-controlling interest			53,000	$ 53,000	496,000	$ 176,000
Reserves for bad debts			$ 2,050,000		$ 2,050,000		$ 2,248,000	$ 1,916,000
[1]	For discussion on the adjustments, see Note 2 - Restatement of Quarterly Financial Statements and Revision of Prior Period Financial statements.

Reserves for Bad Debts (Detail)

Reserves for Bad Debts (Detail) - Jun. 30, 2014 - Pegasus Legal Funding LLC - USD ($)	Total	Total
Accounts, Notes, Loans and Financing Receivable [Line Items]
Balance at beginning of period	$ 1,916,000	$ 2,248,000
Provisions for losses	756,000	955,000
Write offs	(622,000)	(1,153,000)
Balance at end of period	$ 2,050,000	$ 2,050,000

Furniture and Equipment (Detail

Furniture and Equipment (Detail) - USD ($)		Jun. 30, 2014	Sep. 30, 2013
Property, Plant and Equipment [Line Items]
Total		$ 5,242,000	$ 5,242,000
Less accumulated depreciation		4,586,000	4,136,000
Balance, end of period	[1]	656,000	1,106,000
Furniture
Property, Plant and Equipment [Line Items]
Total		310,000	310,000
Equipment
Property, Plant and Equipment [Line Items]
Total		3,622,000	3,622,000
Software
Property, Plant and Equipment [Line Items]
Total		1,211,000	1,211,000
Leasehold Improvements
Property, Plant and Equipment [Line Items]
Total		$ 99,000	$ 99,000
[1]	For discussion on the adjustments, see Note 2 - Restatement of Quarterly Financial Statements and Revision of Prior Period Financial statements.

Goodwill - Additional Informati

Goodwill - Additional Information (Detail) - USD ($)	3 Months Ended	9 Months Ended
	Jun. 30, 2013	Jun. 30, 2014
Goodwill [Line Items]
Impairment loss	$ 0	$ 0

Goodwill (Detail)

Goodwill (Detail) - USD ($)		3 Months Ended	9 Months Ended
		Dec. 31, 2013	Jun. 30, 2014
Goodwill [Line Items]
Beginning balance	[1]	$ 1,410,000	$ 1,410,000
Goodwill from acquisition (see Note 6: Acquisition of CBC)		$ 1,360,000	1,360,000
Ending balance	[1]		$ 2,770,000
[1]	For discussion on the adjustments, see Note 2 - Restatement of Quarterly Financial Statements and Revision of Prior Period Financial statements.

Non-Recourse Debt - Bank of M71

Non-Recourse Debt - Bank of Montreal ("BMO") - Additional Information (Detail) - USD ($)		Jun. 03, 2014	May. 02, 2014	Aug. 07, 2013	Mar. 31, 2007	Jun. 30, 2014	Jun. 30, 2014
Debt Instrument [Line Items]
Receivables financing agreement, consecutive months					3 years
Portfolio purchase					$ 300,000,000	$ 300,000,000	$ 300,000,000
Percentage of ownership in Palisades XVI				100.00%
Prepayment fund				$ 15,000,000
BMO right to receive from future net collections				30.00%
Final principal payment		$ 2,901,199
Voluntary prepayment		1,866,036
Future collections from the Portfolio Purchase		$ 16,900,000
Forgiveness of non-recourse debt	[1]					$ 26,101,000	$ 26,101,000
Line of credit facility			$ 20,000,000
Maximum line of credit facility			$ 30,000,000
Line of credit facility, term			3 years
Line of credit facility, interest description			LIBOR plus 275 basis points or prime
Line of credit facility, basis spread on LIBOR rate			2.75%
Line of credit facility, covenant amount			$ 150,000,000
Receivables Financing Agreement
Debt Instrument [Line Items]
Receivables Financing Agreement					$ 227,000,000
Minimum | BMO
Debt Instrument [Line Items]
Potential long-term liability				$ 0
Maximum | BMO
Debt Instrument [Line Items]
Potential long-term liability				$ 1,400,000
[1]	For discussion on the adjustments, see Note 2 - Restatement of Quarterly Financial Statements and Revision of Prior Period Financial statements.

Other Debt-CBC - Additional Inf

Other Debt-CBC - Additional Information (Detail) - USD ($)		Jul. 15, 2014	Mar. 27, 2014	Dec. 31, 2013	Jun. 30, 2014		May. 02, 2014
Debt Instrument [Line Items]
Assumed debt related to acquisition				$ 25,863,000
Debt amount of settlement	[1]				$ 2,560,000
Line of credit, Current borrowing capacity							$ 20,000,000
Other long term debt outstanding amount	[1]				27,434,000
Issuance of debt notes by Special Purpose Entities				13,800,000	13,000,000	[1]
CBC
Debt Instrument [Line Items]
Assumed debt related to acquisition				25,900,000
Debt amount of settlement				2,500,000
Line of credit, Current borrowing capacity			$ 15,000,000	$ 12,500,000	$ 15,000,000		$ 15,000,000
Revolving line of credit, interest rate			4.75%	5.50%	4.75%
Revolving line of credit, expiring date			Feb. 28, 2015		Feb. 28, 2015
Other long term debt outstanding amount					$ 27,434,000
Amount from line of credit facility					14,443,000
Line of credit, available balance					600,000
Issuance of debt notes by Special Purpose Entities					$ 12,991,000
Ownership interest acquired, percent				80.00%
CBC | Subsequent Event
Debt Instrument [Line Items]
Line of credit, Current borrowing capacity		$ 20,000,000
Revolving line of credit, expiring date		Dec. 31, 2014
CBC | SPE
Debt Instrument [Line Items]
Ownership interest acquired, percent					100.00%
[1]	For discussion on the adjustments, see Note 2 - Restatement of Quarterly Financial Statements and Revision of Prior Period Financial statements.

Component of Other Debt from Ac

Component of Other Debt from Acquisition (Detail) - USD ($)		Mar. 27, 2014	Dec. 31, 2013	Jun. 30, 2014
Debt Instrument [Line Items]
Notes payable secured by settlement receivables with principal and interest outstanding payable			$ 13,800,000	$ 13,000,000	[1]
Total debt - CBC	[1]			$ 27,434,000
CBC
Debt Instrument [Line Items]
Revolving line of credit, interest rate		4.75%	5.50%	4.75%
Notes payable secured by settlement receivables with principal and interest outstanding payable				$ 12,991,000
$15,000,000 revolving line of credit expiring on February 28, 2015				14,443,000
Total debt - CBC				$ 27,434,000
CBC | Notes payable secured by settlement receivables with principal and interest outstanding payable until June 2025
Debt Instrument [Line Items]
Notes payable secured by settlement receivables with all principal and interest outstanding payable, interest rate				8.75%
Notes payable secured by settlement receivables with principal and interest outstanding payable				$ 2,599,000
CBC | Notes payable secured by settlement receivables with principal and interest outstanding payable until August 2026
Debt Instrument [Line Items]
Notes payable secured by settlement receivables with all principal and interest outstanding payable, interest rate				7.25%
Notes payable secured by settlement receivables with principal and interest outstanding payable				$ 5,498,000
CBC | Notes payable secured by settlement receivables with principal and interest outstanding payable until April 2032
Debt Instrument [Line Items]
Notes payable secured by settlement receivables with all principal and interest outstanding payable, interest rate				7.125%
Notes payable secured by settlement receivables with principal and interest outstanding payable				$ 4,894,000
[1]	For discussion on the adjustments, see Note 2 - Restatement of Quarterly Financial Statements and Revision of Prior Period Financial statements.

Component of Other Debt from 74

Component of Other Debt from Acquisition (Parenthetical) (Detail) - USD ($)	Mar. 27, 2014	Jun. 30, 2014	May. 02, 2014	Dec. 31, 2013
Debt Instrument [Line Items]
Line of credit, Current borrowing capacity			$ 20,000,000
CBC
Debt Instrument [Line Items]
Line of credit, Current borrowing capacity	$ 15,000,000	$ 15,000,000	$ 15,000,000	$ 12,500,000
Revolving line of credit, expiring date	Feb. 28, 2015	Feb. 28, 2015
CBC | Notes payable secured by settlement receivables with principal and interest outstanding payable until June 2025
Debt Instrument [Line Items]
Notes payable secured by settlement receivables with all principal and interest outstanding payable, maturity date		2025-06
CBC | Notes payable secured by settlement receivables with principal and interest outstanding payable until August 2026
Debt Instrument [Line Items]
Notes payable secured by settlement receivables with all principal and interest outstanding payable, maturity date		2026-08
CBC | Notes payable secured by settlement receivables with principal and interest outstanding payable until April 2032
Debt Instrument [Line Items]
Notes payable secured by settlement receivables with all principal and interest outstanding payable, maturity date		2032-04

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Detail)	9 Months Ended
	Jun. 30, 2014
Commitments Disclosure [Line Items]
Lease expiry, year and month	2014-08

Finance Income Recognition, I76

Finance Income Recognition, Impairments, and Commissions and Fees (Restated and Revised) - Additional Information (Detail) - USD ($)		3 Months Ended		9 Months Ended
		Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Income Recognition And Impairments [Line Items]
Impairment charges	[1]	$ 19,591,000	$ 10,186,000	$ 19,591,000	$ 10,705,000
[1]	For discussion on the adjustments, see Note 2 - Restatement of Quarterly Financial Statements and Revision of Prior Period Financial statements.

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail) - USD ($)	3 Months Ended		9 Months Ended
	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Income Tax [Line Items]
Provision for income tax expense (benefit)	38.70%	(40.90%)	36.70%	35.40%
State and local net operating loss carry forwards expiration dates			September 2,029
Valuation allowance			$ 0
Federal Income Tax
Income Tax [Line Items]
Income tax returns subject to examination in years			3 years
State and Local Jurisdiction
Income Tax [Line Items]
Income tax returns subject to examination in years				4 years

Computation of Basic and Dilute

Computation of Basic and Diluted Per Share Data (Detail) - USD ($)		3 Months Ended				9 Months Ended
		Jun. 30, 2014	[1]	Jun. 30, 2013	[2]	Jun. 30, 2014	[1]	Jun. 30, 2013	[2]
Schedule Of Computation Of Basic And Diluted Earnings Per Common Share [Line Items]
Basic, Net Income		$ 4,687,000		$ (3,369,000)		$ 5,709,000		$ 718,000
Effect of Dilutive Stock						0		0
Diluted, Net Income		$ 4,687,000		$ (3,369,000)		$ 5,709,000		$ 718,000
Basic, Weighted Average Shares	[3]	12,984,882		12,954,455		12,979,472		12,946,521
Effect of Dilutive Stock, Weighted Average Shares		229,821				228,543		271,135
Diluted, Weighted Average Shares	[3]	13,214,703		12,954,455		13,208,015		13,217,656
Basic, Per share amount	[3]	$ 0.36		$ (0.26)		$ 0.44		$ 0.06
Effect of Dilutive Stock, Per share amount		(0.01)		0		(0.01)		(0.01)
Diluted, Per share amount	[3]	$ 0.35		$ (0.26)		$ 0.43		$ 0.05
Effect of Dilutive Stock, Net Income		$ 0		$ 0
[1]	Net income and per share data have been restated as explained in Note 2 - Restatement of Quarterly Financial Statements and Revision of Prior Period Financial Statements.
[2]	Net income and per share data have been revised as explained in Note 2 - Restatement of Quarterly Financial Statements and Revision of Prior Period Financial Statements.
[3]	For discussion on the adjustments, see Note 2 - Restatement of Quarterly Financial Statements and Revision of Prior Period Financial statements.

Computation of Basic and Dilu79

Computation of Basic and Diluted Per Share Data (Parenthetical) (Detail) - $ / shares	3 Months Ended
	Jun. 30, 2014	Jun. 30, 2013
Schedule Of Computation Of Basic And Diluted Earnings Per Common Share [Line Items]
Shares excluded from diluted earnings per share calculation	1,088,304	575,669
Weighted average exercise price	$ 11.88	$ 8.07

Stock Based Compensation - Addi

Stock Based Compensation - Additional Information (Detail)	1 Months Ended			3 Months Ended	6 Months Ended	9 Months Ended
	Feb. 28, 2014shares	Dec. 31, 2013shares	Dec. 31, 2012Personshares	Jun. 30, 2013shares	Jun. 30, 2014Installmentshares	Jun. 30, 2014shares	Jun. 30, 2013shares	Mar. 27, 2014shares	Sep. 30, 2013shares	Mar. 31, 2013shares	Sep. 30, 2012shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares utilized	5,000	156,700	160,000	50,000		161,700	210,000
Stock option awarded				1,629,971	1,562,204	1,562,204	1,629,971	1,563,704	1,622,771	1,655,871	1,499,471
Number of installment period of stock options vested		3 years	3 years
Number of non-employee directors | Person			6
Number of shares vesting installments | Installment					3
Restricted stock to Chief Executive Officer
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock options issued					102,321
Officers
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock option awarded		70,000	65,000
Number of officers awarded | Person			3
Non Officer Employees
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock option awarded		86,700	75,000
Employee
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock option awarded			20,000

Weighted Average Assumptions Us

Weighted Average Assumptions Used in Option Pricing Model (Detail)	1 Months Ended
	Feb. 28, 2014	Dec. 31, 2013	Dec. 31, 2012
Compensation Related Costs Share Based Payments Disclosure [Line Items]
Risk-free interest rate	0.06%	0.08%	0.16%
Expected term (years)	5 years 10 months 24 days	6 years 6 months	6 years
Expected volatility	35.30%	98.30%	101.00%
Dividend yield	0.00%	0.00%	1.67%

Stock Option Plans - Additional

Stock Option Plans - Additional Information (Detail)		1 Months Ended			3 Months Ended			9 Months Ended
		Feb. 28, 2014shares	Dec. 31, 2013shares	Dec. 31, 2012shares	Jun. 30, 2014USD ($)shares	Jun. 30, 2013USD ($)shares	Dec. 31, 2012shares	Jun. 30, 2014USD ($)Employeeshares	Jun. 30, 2013USD ($)shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares utilized | shares		5,000	156,700	160,000		50,000		161,700	210,000
Intrinsic value of the stock options outstanding					$ 391,000			$ 391,000
Intrinsic value of the stock options exercisable								$ 281,000
Weighted average remaining contractual life of exercisable options								4 years 3 months 18 days
Intrinsic value of the stock options exercised					2,000	$ 162,000		$ 57,000	$ 172,000
Fair value of options exercised					12,000	241,000		95,000	276,000
Proceeds from exercise of stock options	[1]							40,000	103,000
Tax effect, options exercised					0			0
Fair value of the stock options, vested					137,000	144,000		743,000	1,259,000
Fair value of the stock options, granted					0	341,000		1,372,000	$ 1,702,000
Awards granted during period | shares									102,321
Stock-based employee compensation	[1]							1,290,000	$ 1,498,000
Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Proceeds from exercise of stock options					$ 10,000			$ 40,000
Equity Compensation Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common Stock authorized | shares					1,000,000			1,000,000
Stock option awarded stock issued | shares								0
Stock Option Plan expiration date								Mar. 21, 2012
Employee Stock Option
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based employee compensation					$ 367,000	532,000		$ 1,046,000	1,307,000
Unrecognized compensation cost					1,796,000			$ 1,796,000
Unrecognized compensation cost, weighted average remaining period for recognition								1 year 5 months 12 days
Restricted stock to Chief Executive Officer
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based employee compensation					82,000	81,000		$ 244,000	191,000
Unrecognized compensation cost					479,000			$ 479,000
Unrecognized compensation cost, weighted average remaining period for recognition								1 year 5 months 19 days
Awards granted during period | shares							979,000	0
Fair value of awards, vested					0	0		$ 326,000	83,000
Stock Options And Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation cost					2,275,000			2,275,000
Stock-based employee compensation					$ 449,000	$ 613,000		$ 1,290,000	$ 1,498,000
Two Thousand And Twelve Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares utilized | shares								102,321
Eligible employees | Employee								49
Number of shares available | shares					1,525,979			1,525,979
Two Thousand And Twelve Plan | Common Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common Stock authorized | shares				2,000,000			2,000,000
Two Thousand And Twelve Plan | Options to purchase
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares utilized | shares								371,700
Two Thousand And Two Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common Stock authorized | shares					1,000,000			1,000,000
Stock option awarded stock issued | shares								0
Stock Option Plan expiration date								Mar. 5, 2012
[1]	For discussion on the adjustments, see Note 2 - Restatement of Quarterly Financial Statements and Revision of Prior Period Financial statements.

Stock Option Plans (Detail)

Stock Option Plans (Detail) - $ / shares	1 Months Ended			3 Months Ended		9 Months Ended
	Feb. 28, 2014	Dec. 31, 2013	Dec. 31, 2012	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Outstanding options at the beginning of period, Shares				1,563,704	1,655,871	1,622,771	1,499,471
Options granted, Shares	5,000	156,700	160,000		50,000	161,700	210,000
Options exercised, Shares				(1,500)	(25,900)	(11,500)	(29,500)
Options forfeited/canceled, Shares					(50,000)	(210,767)	(50,000)
Outstanding options at the end of period, Shares				1,562,204	1,629,971	1,562,204	1,629,971
Exercisable options at the end of period, Shares				987,198	1,112,037	987,198	1,112,037
Outstanding options at the beginning of period, Weighted Average Exercise Price				$ 10.65	$ 11.12	$ 11.31	$ 11.27
Options granted, Weighted Average Exercise Price					8.69	8.48	9.36
Options exercised, Weighted Average Exercise Price				6.89	3.06	3.46	3.51
Options forfeited/canceled, Weighted Average Exercise Price					7.77	14.87	7.77
Outstanding options at the end of period, Weighted Average Exercise Price				10.66	11.27	10.66	11.27
Exercisable options at the end of period, Weighted Average Exercise Price				$ 11.97	$ 12.57	$ 11.97	$ 12.57

Summary of Outstanding Options

Summary of Outstanding Options (Detail) - $ / shares	9 Months Ended
	Jun. 30, 2014	Mar. 27, 2014	Sep. 30, 2013	Jun. 30, 2013	Mar. 31, 2013	Sep. 30, 2012
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Options Outstanding, Number of Shares Outstanding	1,562,204	1,563,704	1,622,771	1,629,971	1,655,871	1,499,471
Options Outstanding, Weighted Average Remaining Contractual Life (in Years)	5 years 9 months 18 days
Options Outstanding, Weighted Average Exercise Price	$ 10.66	$ 10.65	$ 11.31	$ 11.27	$ 11.12	$ 11.27
Options Exercisable, Number of Shares Exercisable	987,198			1,112,037
Options Exercisable, Weighted Average Exercise Price	$ 11.97			$ 12.57
$2.8751 - $ 5.7500
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Range of Exercise Price, Lower Range	2.8751
Range of Exercise Price, Upper Range	$ 5.7500
Options Outstanding, Number of Shares Outstanding	7,500
Options Outstanding, Weighted Average Remaining Contractual Life (in Years)	4 years 9 months 18 days
Options Outstanding, Weighted Average Exercise Price	$ 2.95
Options Exercisable, Number of Shares Exercisable	7,500
Options Exercisable, Weighted Average Exercise Price	$ 2.95
$5.7501 - $8.6250
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Range of Exercise Price, Lower Range	5.7501
Range of Exercise Price, Upper Range	$ 8.6250
Options Outstanding, Number of Shares Outstanding	938,100
Options Outstanding, Weighted Average Remaining Contractual Life (in Years)	7 years 1 month 6 days
Options Outstanding, Weighted Average Exercise Price	$ 7.92
Options Exercisable, Number of Shares Exercisable	503,100
Options Exercisable, Weighted Average Exercise Price	$ 7.78
$ 8.6251 - $14.3750
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Range of Exercise Price, Lower Range	8.6251
Range of Exercise Price, Upper Range	$ 14.3750
Options Outstanding, Number of Shares Outstanding	260,000
Options Outstanding, Weighted Average Remaining Contractual Life (in Years)	8 years 3 months 18 days
Options Outstanding, Weighted Average Exercise Price	$ 9.77
Options Exercisable, Number of Shares Exercisable	119,994
Options Exercisable, Weighted Average Exercise Price	$ 10.25
$14.3751 - $17.2500
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Range of Exercise Price, Lower Range	14.3751
Range of Exercise Price, Upper Range	$ 17.2500
Options Outstanding, Number of Shares Outstanding	1,944
Options Outstanding, Weighted Average Remaining Contractual Life (in Years)
Options Outstanding, Weighted Average Exercise Price	$ 15.99
Options Exercisable, Number of Shares Exercisable	1,944
Options Exercisable, Weighted Average Exercise Price	$ 15.99
$17.2501 - $20.1250
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Range of Exercise Price, Lower Range	17.2501
Range of Exercise Price, Upper Range	$ 20.1250
Options Outstanding, Number of Shares Outstanding	339,660
Options Outstanding, Weighted Average Remaining Contractual Life (in Years)	3 months 18 days
Options Outstanding, Weighted Average Exercise Price	$ 18.23
Options Exercisable, Number of Shares Exercisable	339,660
Options Exercisable, Weighted Average Exercise Price	$ 18.23
$25.8751 - $28.7500
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Range of Exercise Price, Lower Range	25.8751
Range of Exercise Price, Upper Range	$ 28.7500
Options Outstanding, Number of Shares Outstanding	15,000
Options Outstanding, Weighted Average Remaining Contractual Life (in Years)	2 years 6 months
Options Outstanding, Weighted Average Exercise Price	$ 28.75
Options Exercisable, Number of Shares Exercisable	15,000
Options Exercisable, Weighted Average Exercise Price	$ 28.75

Summary of Restricted Stock Tra

Summary of Restricted Stock Transactions (Detail) - $ / shares	3 Months Ended		9 Months Ended
	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unvested at the beginning of period, Shares	68,214	102,321	102,321	10,922
Awards granted, Shares				102,321
Vested, Shares			(34,107)	(10,922)
Forfeited, Shares	0	0	0	0
Unvested at the end of period, Shares	68,214	102,321	68,214	102,321
Unvested at the beginning of period, Weighted Average Grant Date Fair Value	$ 9.57	$ 9.57	$ 9.57	$ 7.63
Awards granted, Weighted Average Grant Date Fair Value				9.57
Vested, Weighted Average Grant Date Fair Value			9.57	7.63
Forfeited, Weighted Average Grant Date Fair Value	0	0	0	0
Unvested at the end of period, Weighted Average Grant Date Fair Value	$ 9.57	$ 9.57	$ 9.57	$ 9.57

Stockholders' Equity and Prio86

Stockholders' Equity and Prior Period Adjustments - Additional Information (Detail) - USD ($)		Dec. 13, 2012	Sep. 30, 2012	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013	Sep. 30, 2013	Mar. 09, 2012
Stockholders Equity Note [Line Items]
Consumer receivables acquired for liquidation (at net realizable value)	[1]				$ 32,414,000		$ 64,254,000
Deferred income taxes	[1]				8,091,000		7,772,000
Retained earnings	[1]				118,403,000		112,694,000
Dividend per share		$ 0.08	$ 0.02
Cash dividends		$ 1,030,000	$ 260,000		0
Dividend payment, date of record		Dec. 24, 2012
Dividend, date of payment		Dec. 28, 2012	Nov. 1, 2012
Stock repurchase program authorized amount								$ 20,000,000
Aggregate cost	[1]					$ 1,579,000
Additional Stock
Stockholders Equity Note [Line Items]
Treasury stock, shares				0		172,000
Aggregate cost				$ 0		$ 1,574,000
Adjustments
Stockholders Equity Note [Line Items]
Consumer receivables acquired for liquidation (at net realizable value)					900,000		6,400,000
Deferred income taxes					(803,000)		2,700,000
Retained earnings					$ 97,000		$ 3,700,000
Aggregate cost						$ 0
[1]	For discussion on the adjustments, see Note 2 - Restatement of Quarterly Financial Statements and Revision of Prior Period Financial statements.

Fair Value of Financial Measu87

Fair Value of Financial Measurements (Detail) - USD ($)		Jun. 30, 2014		Dec. 31, 2013	Sep. 30, 2013
Financial assets
Available-for-sale investments	[1]	$ 70,205,000			$ 58,035,000
Structured settlements		$ 35,892,000	[1]	$ 30,436,000
Financial liabilities
Non-recourse debt - BMO (Level 3)	[1]				35,760,000
Other debt - CBC, non-recourse notes payable with varying installments		$ 13,000,000	[1]	$ 13,800,000
Carrying Amount | Level 1
Financial assets
Available-for-sale investments		70,205,000			58,035,000
Carrying Amount | Level 3
Financial assets
Consumer receivables acquired for liquidation		32,414,000			64,254,000
Structured settlements		35,892,000
Financial liabilities
Non-recourse debt - BMO (Level 3)		0			35,760,000
Other debt - CBC, revolving line of credit		14,443,000
Other debt - CBC, non-recourse notes payable with varying installments		12,991,000
Fair Value | Level 1
Financial assets
Available-for-sale investments		70,205,000			58,035,000
Fair Value | Level 3
Financial assets
Consumer receivables acquired for liquidation		60,490,000			70,875,000
Structured settlements		35,892,000			0
Financial liabilities
Non-recourse debt - BMO (Level 3)		0			27,000,000
Other debt - CBC, revolving line of credit		14,443,000			0
Other debt - CBC, non-recourse notes payable with varying installments		$ 12,991,000			$ 0
[1]	For discussion on the adjustments, see Note 2 - Restatement of Quarterly Financial Statements and Revision of Prior Period Financial statements.

Quantitative Information about

Quantitative Information about Level 3 Fair Value Measurements (Detail) - Jun. 30, 2014 - USD ($)	Total
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Fair Value	$ 35,892,000
Valuation Technique	Discounted cash flow
Unobservable Input	Discount rate
Rate	5.50%

Changes in Structured Settlemen

Changes in Structured Settlements at Fair Value using Significant Unobservable Inputs (Level 3) (Detail) - Jun. 30, 2014 - USD ($)	Total	Total
Fair Value Assets Liabilities Measured On Recurring Basis [Line Items]
Balance at beginning	$ 33,330,000	$ 0
Acquisition of CBC (see Note 6)		30,436,000
Total gains included in earnings	620,000	1,440,000
Purchases	2,337,000	4,696,000
Sales	0	0
Interest accreted	767,000	1,475,000
Payments received	(1,162,000)	(2,155,000)
Total	35,892,000	35,892,000
The amount of total gains for the nine month period included in earnings attributable to the change in unrealized gains (losses) relating to assets held at June 30, 2014	$ 620,000	$ 1,440,000

Schedule of Realized and Unreal

Schedule of Realized and Unrealized Gains and Losses Included in Earnings in Accompanying Consolidated Statements of Income (Detail) - Jun. 30, 2014 - USD ($)	Total	Total
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Total gains (losses) included in earnings in fiscal year 2014	$ 620,000	$ 1,440,000
Change in unrealized gains (losses) relating to assets still held at June 30, 2014	$ 620,000	$ 1,440,000