Asta Funding (ASFI) 10-Q 29 Jun 15 2015 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Dec. 31, 2014	Jun. 25, 2015
Document Information [Line Items]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Dec. 31, 2014
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	Q1
Trading Symbol	ASFI
Entity Registrant Name	ASTA FUNDING INC
Entity Central Index Key	1,001,258
Current Fiscal Year End Date	--09-30
Entity Filer Category	Accelerated Filer
Entity Common Stock, Shares Outstanding		13,060,839

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($)	Dec. 31, 2014	Sep. 30, 2014
ASSETS
Cash and cash equivalents	$ 28,075,000	$ 28,710,000
Available for sale investments	66,991,000	66,799,000
Consumer receivables acquired for liquidation (at net realizable value)	25,728,000	29,444,000
Structured settlements	46,031,000	42,079,000
Investment in personal injury claims	33,378,000	32,352,000
Other investments	5,000,000
Due from third party collection agencies and attorneys	933,000	1,026,000
Prepaid and income taxes receivable	211,000	430,000
Furniture and equipment, net	606,000	756,000
Deferred income taxes	6,907,000	6,786,000
Goodwill	2,770,000	2,770,000
Other assets	6,672,000	5,986,000
Total assets	223,302,000	217,138,000
LIABILITIES
Other debt - CBC (including non-recourse notes payable amounting to $33.2 million at December 31, 2014 and $12.7 million at September 30, 2014)	38,472,000	32,295,000
Other liabilities	2,852,000	3,587,000
Total liabilities	$ 41,324,000	$ 35,882,000
Commitments and contingencies
STOCKHOLDERS' EQUITY
Preferred stock, $.01 par value; authorized 5,000,000 shares; issued and outstanding - none
Common stock, $.01 par value; authorized 30,000,000 shares; issued and outstanding - 13,060,839 at December 31, 2014 and 12,985,839 at September 30, 2014	$ 130,000	$ 130,000
Additional paid-in capital	64,002,000	63,102,000
Retained earnings	118,965,000	118,595,000
Accumulated other comprehensive income	(128,000)	142,000
Non-controlling interest	(991,000)	(713,000)
Total stockholders' equity	181,978,000	181,256,000
Total liabilities and stockholders' equity	$ 223,302,000	$ 217,138,000

Condensed Consolidated Balance3

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Millions	Dec. 31, 2014	Sep. 30, 2014
Other debt, non-recourse notes payable	$ 33.2	$ 12.7
Preferred stock, par value	$ 0.01	$ 0.01
Preferred stock, shares authorized	5,000,000	5,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	30,000,000	30,000,000
Common stock, shares issued	13,060,839	12,985,839
Common stock, shares outstanding	13,060,839	12,985,839

Condensed Consolidated Statemen

Condensed Consolidated Statements of Income - Entity [Domain] - USD ($)	3 Months Ended
	Dec. 31, 2014	Dec. 31, 2013
Revenues
Finance income, net	$ 5,037,000	$ 4,648,000
Personal injury claims income	2,488,000	2,779,000
Unrealized gains on structured settlements	1,202,000
Interest income on structured settlements	941,000
Total revenues	9,668,000	7,427,000
Other income (includes $39,000 and ($25,000) during the three month periods ended December 31, 2014 and 2013, respectively, of accumulated other comprehensive income reclassification for unrealized net losses on available for sale securities)	794,000	543,000
Revenues	10,462,000	7,970,000
Expenses
General and administrative	9,554,000	5,767,000
Interest expense	489,000	9,000
Total expenses	10,043,000	5,776,000
Income before income taxes	419,000	2,194,000
Income tax expense (includes tax (expense)/ benefit of ($16,000) and 10,000 during the three month periods ended December 31, 2014 and 2013, respectively, of accumulated other comprehensive income reclassifications for unrealized net losses on available for sale securities)	98,000	798,000
Net income	321,000	1,396,000
Less: net income attributable to non-controlling interest	(49,000)	449,000
Net income attributable to Asta Funding, Inc.	$ 370,000	$ 947,000
Net income per share attributable to Asta Funding, Inc.:
Basic	$ 0.03	$ 0.07
Diluted	$ 0.03	$ 0.07
Weighted average number of shares outstanding:
Basic	13,013,719	12,974,239
Diluted	13,308,573	13,200,084

Condensed Consolidated Stateme5

Condensed Consolidated Statements of Income (Parenthetical) - USD ($)	3 Months Ended
	Dec. 31, 2014	Dec. 31, 2013
Reclassifications for unrealized net (losses) / gains on available for sale securities	$ 39,000	$ (25,000)
Income tax expense, tax (expense)/ benefit	$ (16,000)	$ 10,000

Condensed Consolidated Stateme6

Condensed Consolidated Statements of Comprehensive Income - USD ($)	3 Months Ended
	Dec. 31, 2014	Dec. 31, 2013
Net income	$ 321,000	$ 1,396,000
Net unrealized securities loss, net of tax benefit of $0 and $58,000 during the 3 month periods ended December 31, 2014 and 2013, respectively	(300,000)	(66,000)
Reclassification adjustments for securities sold during the period, net of tax benefit / (expense) of $16,000 and $10,000 for the 3 months ended December 2014 and 2013, respectively	30,000	(15,000)
Other comprehensive loss	(270,000)	(81,000)
Total comprehensive income	$ 51,000	$ 1,315,000

Condensed Consolidated Stateme7

Condensed Consolidated Statements of Comprehensive Income (Parenthetical) - USD ($)	3 Months Ended
	Dec. 31, 2014	Dec. 31, 2013
Net unrealized securities loss, tax benefit	$ 0	$ 58,000
Reclassification adjustments for securities sold, tax benefit / (expense)	$ 16,000	$ 10,000

Condensed Consolidated Stateme8

Condensed Consolidated Statement of Stockholders' Equity - USD ($)	Total	Common Stock	Additional Paid-in Capital	Retained Earnings	Accumulated Other Comprehensive Loss	Non- Controlling Interest	Treasury Stock	[1]
Beginning balance (in shares) at Sep. 30, 2013		14,917,977
Beginning balance at Sep. 30, 2013	$ 173,284,000	$ 149,000	$ 79,104,000	$ 112,694,000	$ (674,000)	$ (184,000)	$ (17,805,000)
Exercise of options (in shares)	0
Stock based compensation expense	$ 418,000		418,000
Net income	1,396,000			947,000		449,000
Unrealized gain (loss) on marketable securities	(81,000)				(81,000)
Distributions to non-controlling interest	(282,000)					(282,000)
Ending balance (in shares) at Dec. 31, 2013		14,917,977
Ending balance at Dec. 31, 2013	174,735,000	$ 149,000	79,522,000	113,641,000	(755,000)	(17,000)	$ (17,805,000)
Beginning balance (in shares) at Sep. 30, 2014		12,985,839
Beginning balance at Sep. 30, 2014	$ 181,256,000	$ 130,000	63,102,000	118,595,000	142,000	(713,000)
Exercise of options (in shares)	60,000	60,000
Exercise of options	$ 469,000		469,000
Stock based compensation expense	431,000		431,000
Restricted stock		15,000
Net income	321,000			370,000		(49,000)
Unrealized gain (loss) on marketable securities	(270,000)				(270,000)
Distributions to non-controlling interest	(229,000)					(229,000)
Ending balance (in shares) at Dec. 31, 2014		13,060,839
Ending balance at Dec. 31, 2014	$ 181,978,000	$ 130,000	$ 64,002,000	$ 118,965,000	$ (128,000)	$ (991,000)
[1]	Treasury shares are as follows: September 30, 2013, 1,923,738; December 31, 2013, 1,923,738.

Condensed Consolidated Stateme9

Condensed Consolidated Statement of Stockholders' Equity (Parenthetical) - shares	Sep. 30, 2014	Dec. 31, 2013
Treasury stock, shares	1,923,738	1,923,738

Condensed Consolidated Statem10

Condensed Consolidated Statements of Cash Flows - USD ($)	3 Months Ended
	Dec. 31, 2014	Dec. 31, 2013
Cash flows from operating activities
Net income	$ 321,000	$ 1,396,000
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	150,000	150,000
Deferred income taxes	(121,000)	(446,000)
Stock based compensation	432,000	418,000
Loss on sale of available-for-sale securities	(39,000)	25,000
Structured settlements - accrued interest	(1,202,000)
Structured settlements - gains	(907,000)
Changes in:
Prepaid and income taxes receivable	219,000	1,245,000
Due from third party collection agencies and attorneys	93,000	490,000
Other assets	(686,000)	(327,000)
Other liabilities	(735,000)	(736,000)
Net cash (used in) provided by operating activities	(2,475,000)	2,215,000
Cash flows from investing activities
Purchase of consumer receivables acquired for liquidation		(520,000)
Principal collected on receivables acquired for liquidation	3,713,000	5,556,000
Principal collected on receivables accounts represented by account sales	3,000
Purchase of available-for-sale securities	(5,443,000)	(5,618,000)
Proceeds from sale of available-for-sale securities	5,020,000	5,000,000
Purchase of other investments	(5,000,000)
Cash paid for acquisition (net of cash acquired)		(5,588,000)
Investments in personal injury claims - advances	(5,311,000)	(4,519,000)
Investments in personal injury claims - receipts	6,337,000	9,788,000
Investments in structured settlements - advances	(3,108,000)
Investments in structured settlements - receipts	1,265,000
Net cash (used in) provided by investing activities	(4,576,000)	4,099,000
Cash flows from financing activities
Proceeds from exercise of stock options	468,000
Changes in restricted cash		20,000
Distribution to non-controlling interest	(229,000)	(282,000)
Repayments of non-recourse debt - Bank of Montreal		(2,628,000)
Borrowings of other debt - CBC	24,574,000
Repayment of other debt - CBC	(18,397,000)	(2,500,000)
Net cash provided by (used in) financing activities	6,416,000	(5,390,000)
Net (decrease) increase in cash and cash equivalents	(635,000)	924,000
Cash and cash equivalents at beginning of period	28,710,000	35,179,000
Cash and cash equivalents at end of period	28,075,000	36,103,000
Cash paid for:
Interest	$ 543,000	10,000
Supplemental disclosure of non-cash investing and financing activities:
Structure settlement		30,436,000
Other debt - CBC		$ 23,363,000

Business and Basis of Presentat

Business and Basis of Presentation	3 Months Ended
	Dec. 31, 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 Disability Advocates, LLC (“GAR Disability Advocates”) and other subsidiaries, not all wholly owned (collectively, the “Company”), has been engaged in the business of purchasing, managing for its own account and servicing distressed consumer receivables, including charged-off receivables and semi-performing receivables, since 1994, as well as more recent business segments, discussed below. 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. 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 ® ® 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. Pegasus provides funding for individuals in need of short term funds pending insurance settlements of their personal injury claims. The funds will be recouped when the underlying insurance settlements are paid. The long periods of time taken by insurance companies to settle and pay such claims resulting from lengthy litigation and the court process is fueling the demand for such funding. CBC provides liquidity to consumers by purchasing certain deferred payment streams including, but not limited to, structured settlements and annuities. CBC generates business from direct marketing as well as through wholesale purchases from brokers or other third parties. CBC has its principal office in Conshohocken, Pennsylvania. CBC primarily warehouses the receivables it originates and periodically resells or securitizes those assets on a pooled basis. The structured settlement marketplace is regulated by federal and state law, requiring that each transaction is reviewed and approved by court order. GAR Disability Advocates is a social security disability advocacy group, which obtains and represents individuals 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 December 31, 2014, the condensed consolidated statements of income for the three month periods ended December 31, 2014 and 2013, the condensed consolidated statements of comprehensive income for the three month periods ended December 31, 2014 and 2013, the condensed consolidated statement of stockholders’ equity as of and for the three months ended December 31, 2014 and 2013 the condensed consolidated statements of cash flows for the three month periods ended December 31, 2014 and 2013, are unaudited. The September 30, 2014 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, 2014. In the opinion of management, all adjustments (which include only normal recurring adjustments) necessary to present fairly our financial position at December 31, 2014 and September 30, 2014, the results of operations for the three month periods ended December 31, 2014 and 2013 and cash flows for the three month periods ended December 31, 2014 and 2013 have been made. The results of operations for the three month periods ended December 31, 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, a $300 million portfolio purchase in March 2007 (the “Portfolio Purchase”), which, as of December 31, 2014, had a value of $17.0 million. Blue Bell Receivables I, LLC (“BBR I”), Blue Bells Receivables II, LLC (“BBR II”), Blue Bell Receivables III, LLC (“BBR III”) and Blue Bell Receivables IV, LLC (“BBR IV”), collectively 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 hold structured settlements of $46.0 million and the non-recourse notes payable of $33.1 million as of December 31, 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, 2014 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 (“GAAP”) 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. Concentration of Credit Risk—Cash The Company considers all highly liquid investments with a maturity date of three months or less at the date of purchase to be cash equivalents. Cash balances are maintained at various depository institutions and are insured by the Federal Deposit Insurance Corporation (“FDIC”). The Company had cash balances with 11 banks at December 31, 2014 that exceeded the balance insured by the FDIC by approximately $24.3 million. The Company does not believe it is exposed to any significant credit risk for cash. Reclassifications Personal injury claims income had previously been included in other income in the prior period’s financial statements and has been reclassified to revenue in the current period’s statement of income. Recent Accounting Pronouncements 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. In February 2015, the FASB issued ASU 2015-02, “Consolidation (Topic 810): Amendments to the Consolidation Analysis,” which amends the consolidation requirements in ASC 810. This update is effective for public business entities for the first interim or annual period beginning after December 15, 2015. We are currently reviewing this ASU to determine if it will have an impact on our consolidated financial statements. In May 2015, the FASB issued ASU 2015-07, “Fair Value Measurement (Topic 820): Disclosures for Investments in Certain Entities that Calculate Net Asset Value per Share (or Its Equivalent)”. The amendments apply to reporting entities that elect to measure the fair value of an investment using the net asset value (“NAV”) per share (or its equivalent) practical equivalent. The amendments remove the requirement to categorize within the fair value hierarchy all investments for which fair value is measured using the NAV per share practical expedient. The amendments in this ASU are effective for reporting periods beginning after December 15, 2015, with early adoption permitted. The Company has reviewed this ASU and has elected to early adopt these amendments in the current reporting period and has removed certain investments that are measured using the NAV practical expedient from the fair value hierarchy in all periods presented in the Company’s consolidated financial statements.

Principles of Consolidation

Principles of Consolidation	3 Months Ended
	Dec. 31, 2014
Principles of Consolidation	Note 2 — 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.

Available-for-Sale Investments

Available-for-Sale Investments	3 Months Ended
	Dec. 31, 2014
Available-for-Sale Investments	Note 3 — Available-for-Sale Investments Investments classified as available-for-sale at December 31, 2014 and September 30, 2014, consist of the following: Amortized Unrealized Unrealized Fair Cost Gains Losses Value December 31, 2014 $ 67,021,000 $ 188,000 $ (218,000 ) $ 66,991,000 September 30, 2014 $ 66,559,000 $ 411,000 $ (171,000 ) $ 66,799,000 The available-for-sale investments do not have any contractual maturities. The Company sold two investments during the first quarter of fiscal year 2015, with a realized gain of $39,000. Additionally, the Company received $234,000 in capital gains distributions during the first quarter of fiscal year 2015. In the first quarter of fiscal year 2014, the Company sold one investment with a realized loss of $25,000 and also received $186,000 in capital gains distributions during that quarter. The Company recorded an aggregate realized gain of $273,000 and $161,000 related to its available-for-sale securities during the first quarter of fiscal years 2015 and 2014, respectively. At December 31, 2014, there were seven investments, five of which were in an unrealized loss position. Of these five investments, three had current unrealized losses that had existed for 12 months or more .

Consumer Receivables Acquired f

Consumer Receivables Acquired for Liquidation	3 Months Ended
	Dec. 31, 2014
Consumer Receivables Acquired for Liquidation	Note 4 — Consumer Receivables Acquired for Liquidation 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 accounts for its investments in consumer receivable portfolios, using either: • the interest method; or • the cost recovery method. The Company can account 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 in the circumstances. Despite all of the Company’s portfolios being on the cost recovery method, 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 may aggregates portfolios of receivables acquired sharing specific common characteristics which were acquired within a given quarter. The Company currently considers 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: For the Three Months Ended December 31, 2014 Cost Interest Recovery Method Method Total Balance, beginning of period $ — $ 29,444,000 $ 29,444,000 Acquisitions of receivable portfolio — — — Net cash collections from collection of consumer receivables acquired for liquidation — (8,750,000 ) (8,750,000 ) Net cash collections represented by account sales of consumer receivables acquired for liquidation — (3,000 ) (3,000 ) Finance income recognized — 5,037,000 5,037,000 Balance, end of period $ — $ 25,728,000 $ 25,728,000 Finance income as a percentage of collections — 57.5 % 57.5 % For the Three Months Ended December 31, 2013 Cost Interest Recovery Method Method Total Balance beginning of period 13,121,000 51,133,000 64,254,000 Reclassification of interest method portfolios to cost recovery method (13,121,000 ) 13,121,000 — Acquisitions of receivable portfolio — 520,000 520,000 Net cash collections from collection of consumer receivables acquired for liquidation — (10,203,000 ) (10,203,000 ) Net cash collections represented by account sales of consumer receivables acquired for liquidation — (1,000 ) (1,000 ) Finance income recognized — 4,648,000 4,648,000 Balance, end of period $ — $ 59,218,000 $ 59,218,000 Finance income as a percentage of collections — 45.6 % 45.6 % During the three months ended December 31, 2014, the Company did not purchase any consumer receivable portfolios. During the three months ended December 31, 2013, the Company purchased $8.6 million of face value portfolios at a cost of $0.5 million, which are accounted for on the cost recovery method. 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 three month periods ended December 31, 2014 and 2013, respectively. For the Three Months Ended 2014 2013 Gross collections (1) $ 15,192,000 $ 17,325,000 Commissions and fees (2) 6,439,000 7,121,000 Net collections $ 8,753,000 $ 10,204,000 (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 the Portfolio Purchase. 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

Acquisition of CBC	3 Months Ended
	Dec. 31, 2014
Acquisition of CBC	Note 5 – Acquisition of CBC 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 certain former owners. 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 interests 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 December 31, 2014 as it is not probable that the put option will become redeemable. 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 11: 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 9: 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 accretive to the Company in the first quarter of fiscal year 2014. Unaudited results of operations have been prepared as if the acquisition of CBC occurred at the beginning of the fiscal period. Total revenues, as reported, for the first quarter of fiscal year 2014 were $7,427,000. On a pro forma basis, total revenues would have been $9,062,000. Net income attributable to Asta Funding, Inc., as reported, was $947,000. On a pro forma basis, net income attributable to Asta Funding, Inc. would have been $989,000. The acquisition provided the Company with the opportunity to further diversify its portfolio.

Structured Settlements

Structured Settlements	3 Months Ended
	Dec. 31, 2014
Structured Settlements	Note 6 – 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 income. Structured settlements consist of the following as of December 31, 2014 and September 30, 2014: December 31 September 30 Maturity $ 71,641,000 $ 64,852,000 Unearned income (25,610,000 ) (22,773,000 ) Net collections $ 46,031,000 $ 42,079,000 Encumbrances on structured settlements as of December 31 and September 30, 2014 are as follows: December 31 September 30 Notes payable secured by settlement receivables with principal and interest outstanding payable until June 2025 (1) $ 2,468,000 $ 2,521,000 Notes payable secured by settlement receivables with principal and interest outstanding payable until August 2026 (1) 5,214,000 5,363,000 Notes payable secured by settlement receivables with principal and interest outstanding payable until April 2032 (1) 4,646,000 4,828,000 Notes payable secured by settlement receivables with principal and interest outstanding payable until February 2037 (1) 20,813,000 — $25,000,000 revolving line of credit (1) 5,331,000 19,583,000 Encumbered structured settlements 38,472,000 32,295,000 Structured settlements not encumbered 7,559,000 9,784,000 Total structured settlements $ 46,031,000 $ 42,079,000 (1) See Note 11 – Other Debt – CBC At December 31, 2014, the expected cash flows of structured settlements based on maturity value are as follows: September 30, 2015 (9 months) $ 3,783,000 September 30, 2016 5,620,000 September 30, 2017 5,134,000 September 30, 2018 4,197,000 September 30, 2019 4,388,000 Thereafter 48,519 ,000 Total $ 71,641,000

Other Investments

Other Investments	3 Months Ended
	Dec. 31, 2014
Other Investments	Note 7 – 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 $2.5 million and $2.8 million in interest and fees during the first quarter of fiscal years 2014 and 2013, respectively. The Company had a net invested balance of $33.4 million and $32.4 million on December 31, 2014 and September 30, 2014, respectively. The results of Pegasus yielded loss attributable to non-controlling interest of $72,000 for the three months ended December 31, 2014 and yielded a profit of $449,000 for the three month periods ending December 31, 2013, respectively. Pegasus records reserves for bad debts, which, at December 31, 2014, amounted to $3.8 million, as follows: Three Months Ended December 31, 2014 Balance at beginning of period $ 2,474,000 Provisions for losses 1,561,000 Write offs (278,000 ) Balance at end of period $ 3,757,000 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”). A BPCM agreement provides non-recourse funding to a spouse in a matrimonial action. Through a revised agreement the Company provides a $1.5 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. In September 2014, the agreement was revised to extend the term of the loan to August 2016, increase the line to $1.5 million and include a personal guarantee of the principal of BP Divorce Funding. The loan balance at December 31, 2014, was approximately $1.5 million. The revolving line of credit is collateralized by BP Divorce Funding’s profit share in BPCM and other assets. As of December 31, 2014, the Company’s investment in cases through BPCM was approximately $2.4 million. There was no income recognized in the three month periods ended December 31, 2014 and 2013.

Furniture & Equipment

Furniture & Equipment	3 Months Ended
	Dec. 31, 2014
Furniture & Equipment	Note 8 — Furniture & Equipment Furniture and equipment consist of the following as of the dates indicated: December 31, September 30, 2014 2014 Furniture $ 323,000 $ 323,000 Equipment 3,622,000 3,622,000 Software 1,211,000 1,211,000 Leasehold improvements 99,000 99,000 5,255,000 5,255,000 Less accumulated depreciation 4,649,000 4,499,000 Balance, end of period $ 606,000 $ 756,000

Goodwill

Goodwill	3 Months Ended
	Dec. 31, 2014
Goodwill	Note 9 – 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 an 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 three month periods ended December 31, 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 December 31, 2014 and September 30, 2014 are as follows: December 31, September 30, 2014 2014 Balance at beginning of period $ 2,770,000 $ 1,410,000 Goodwill from acquisition (see Note 5: Acquisition of CBC) — 1,360,000 Balance, end of period $ 2,770,000 $ 2,770,000

Non Recourse Debt

Non Recourse Debt	3 Months Ended
	Dec. 31, 2014
Non Recourse Debt	Note 10 — Non Recourse Debt Non-Recourse Debt –Bank of Montreal (“BMO”) In March 2007, Palisades XVI borrowed approximately $227 million under the Receivables Financing Agreement, as amended in July 2007, December 2007, May 2008, February 2009, October 2010 and August 2013 from Bank of Montreal (“BMO”), in order to finance the Portfolio Purchase which had a purchase price of $300 million. The original term of the agreement was three years. This term was extended by each of the Second, Third, Fourth, 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, pre-tax 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 (“the 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, with property of the Borrowers serving as collateral. Through the period ended December 31, 2014, the Company did not use this facility.

Other Debt - CBC

Other Debt - CBC	3 Months Ended
	Dec. 31, 2014
Other Debt - CBC	Note 11 — Other Debt - CBC The Company assumed $25.9 million of debt related to the CBC acquisition (see Note 5) 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 the Sixth 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. On July 15, 2014, CBC entered into the Seventh Amendment, extending the revolving line of credit to $20.0 million. On September 29, 2014, CBC entered into the Eighth Amendment, further extending the credit line to $22.0 million. On November 26, 2014, CBC completed its fourth private placement, backed by structured settlement and fixed annuity payments. CBC issued, through its subsidiary, BBR IV, LLC, approximately $20.8 million of fixed rate asset-backed notes with a yield of 5.4%. As of December 31, 2014, the remaining debt amounted to $38.5 million, which consisted of $5.3 million drawdown from a line of credit from an institutional source and $33.2 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. On March 11, 2015, CBC entered into the Ninth Amendment, extending the maturity date and the revolving line of credit maximum revolver amount (see Note 21—Subsequent Events for additional information). The following table details the other debt at December 31, 2014 and September 30, 2014: Interest Rate December 31 September 30 Notes payable secured by settlement receivables with principal and interest outstanding payable until June 2025 8.75 % $ 2,468,000 $ 2,521,000 Notes payable secured by settlement receivables with principal and interest outstanding payable until August 2026 7.25 % 5,214,000 5,363,000 Notes payable secured by settlement receivables with principal and interest outstanding payable until April 2032 7.125 % 4,646,000 4,828,000 Notes payable secured by settlement receivables with principal and interest outstanding payable until February 2037 5.39 % 20,813,000 — Subtotal notes payable 33,141,000 12,712,000 $25,000,000 revolving line of credit expiring on March 1, 2017 4.75 % 5,331,000 19,583,000 Total debt – CBC $ 38,472,000 $ 32,295,000

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Dec. 31, 2014
Commitments and Contingencies	Note 12— Commitments and Contingencies Leases The Company leases its facilities in Englewood Cliffs, New Jersey, Houston, Texas, New York, New York and Conshohocken, Pennsylvania. 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.

Income Recognition, Impairments

Income Recognition, Impairments, and Commissions and Fees	3 Months Ended
	Dec. 31, 2014
Income Recognition, Impairments, and Commissions and Fees	Note 13 — Income Recognition, Impairments, and Commissions and Fees Income Recognition The Company can account 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 reasonable 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 in the circumstances. Despite all of the Company’s portfolios being on the cost recovery method, 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. CBC purchases periodic payments under structured settlements and annuity policies from individuals in exchange for a lump sum payment. The Company elected to carry 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 settlement. Changes in fair value are recorded in unrealized gain (loss) in structured settlements in our statements of income. The Company recognizes revenue for GAR Disability Advocates as fees are earned when cases close and the fees are paid. Impairments 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. 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. There were no impairments recorded during the quarter ended December 31, 2014 and 2013, respectively. 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 average balance of the receivables • the age of the receivables; • past history and performance of similar assets acquired • the Company’s ability to analyze accounts and resell accounts that meet its criteria; • jobs or property of the debtors found within portfolios.; and • credit standards of the issue Commissions and fees 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	3 Months Ended
	Dec. 31, 2014
Income Taxes	Note 14 — 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 New Jersey NOL carryforward balance as of December 31, 2014 is approximately $110 million. The provision for income tax expense for the three month periods ended December 31, 2014 and 2013 reflects income tax expense at an effective rate of 23.4% and 36.4%, respectively. The lower effective tax rate for the first quarter of fiscal year 2015 is primarily due to the high level of tax exempt income. The corporate federal income tax returns of the Company for 2008 through 2014 are subject to examination by the Internal Revenue Service (“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 per Share

Net Income per Share	3 Months Ended
	Dec. 31, 2014
Net Income per Share	Note 15— Net Income per Share 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 three months ended December 31, 2014 and 2013: December 31, 2014 December 31, 2013 Net Weighted Per Net Weighted Per Income Shares Amount Income Shares Amount Basic $ 370,000 13,013,719 $ 0.03 $ 947,000 12,974,239 $ 0.07 Effect of Dilutive Stock 294,854 225,845 Diluted $ 370,000 13,308,573 $ 0.03 $ 947,000 13,200,084 $ 0.07 At December 31, 2014, 381,000 options at a weighted average exercise price of $9.69 were not included in the diluted earnings per share calculation as they were antidilutive. At December 31, 2013, 960,669 options at a weighted average exercise price of $12.33 were not included in the diluted earnings per share calculation as they were antidilutive.

Stock Based Compensation

Stock Based Compensation	3 Months Ended
	Dec. 31, 2014
Stock Based Compensation	Note 16— 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. On October 2, 2014, the Compensation Committee of the Board of Directors of the Company (“Compensation Committee”) granted 15,000 restricted shares to a non-officer employee of the Company. These shares vest in three equal installments, starting on the first anniversary of the grant. In December 2013, the Compensation Committee of the Board of Directors of the Company (“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 %

Stock Option Plans

Stock Option Plans	3 Months Ended
	Dec. 31, 2014
Stock Option Plans	Note 17 — 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, an award of 117,321 shares of restricted stock, and has cancelled 45,600 options, leaving 1,556,579 shares available as of December 31, 2014. As of December 31, 2014, approximately 62 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: Three Months Ended December 31, 2014 2013 Weighted Weighted Number Average Number Average Of Exercise of Exercise Shares Price Shares Price Outstanding options at the beginning of period 1,403,259 $ 10.78 1,622,771 $ 11.31 Options granted — — 156,700 8.49 Options exercised (60,000 ) 7.83 — — Options forfeited/canceled (344,259 ) 17.99 (210,767 ) 14.39 Outstanding options at the end of period 999,000 $ 8.47 1,568,704 $ 10.61 Exercisable options at the end of period 832,319 $ 8.40 977,035 $ 11.95 The following table summarizes information about the 2012 Plan, 2002 Plans, and the Equity Compensation Plan outstanding options as of December 31, 2014: Options Outstanding Options Exercisable Weighted Weighted Weighted Number Remaining Average Number Average of Shares Contractual Exercise of Shares Exercise Range of Exercise Price Outstanding Life (in Years) Price Exercisable Price $2.8751 – $5.7500 7,100 4.3 $ 2.95 7,100 $ 2.95 $5.7501 – $8.6250 802,900 6.7 7.94 705,557 7.86 $8.6251 – $25.8750 174,000 8.1 9.40 104,662 9.47 $25.8751 – $28.7500 15,000 2.0 28.75 15,000 28.75 999,000 6.8 $ 8.47 832,319 $ 8.40 The Company recognized $338,000 and $336,000 of compensation expense related to the stock option grants during the three month periods ended December 31, 2014 and 2013, respectively. As of December 31, 2014, there was $1,087,000 of unrecognized compensation cost related to stock option awards. The weighted average period over which such costs are expected to be recognized is 1.6 years. The intrinsic value of the outstanding and exercisable options as of December 31, 2014 was approximately $693,000 and $666,000, respectively. The weighted average remaining contractual life of exercisable options is 6.5 years. The intrinsic and fair value of the stock options exercised during the three month period ended December 31, 2014 was approximately $76,000 and $525,000, respectively. There were no options exercised during the three month period ended December 31, 2013. The fair value of the stock options that vested during the three month periods ended December 31, 2014 and 2013 was approximately $2,998,000 and $481,000, respectively. There were no options granted during the three month period ended December 31, 2014. The fair value of the options granted during the three month periods ended December 31, 2013 was approximately $1,021,000. The following table summarizes information about restricted stock transactions: Three Months Ended December 31, 2014 2013 Weighted Weighted Number of Average Number of Average Grant Shares Fair Value Shares Fair Value Unvested at the beginning of period 68,214 $ 9.57 102,321 $ 9.57 Awards granted 15,000 8.30 — — Vested (34,107 ) 9.57 (34,107 ) 9.57 Forfeited — — — — Unvested at the end of period 49,107 $ 9.18 68,214 $ 9.57 The Company recognized $94,000 and $82,000 of compensation expense related to the restricted stock awards during the three month periods ended December 31, 2014 and 2013, respectively. As of December 31, 2014, there was $357,000 of unrecognized compensation cost related to restricted stock awards. The weighted average remaining period over which such costs are recognized is 1.4 years. There were 15,000 restricted stock awards granted to an employee during the first quarter of fiscal year 2015. There were no awards granted during the first quarter of fiscal year 2014. The fair value of the awards vested during the first quarter of fiscal years 2015 and 2014 was $326,000 for both periods. The Company recognized an aggregate total of $432,000 and $418,000 in compensation expense for the three month periods ended December 31, 2014 and 2013, respectively, for the stock options and restricted stock grants. As of December 31, 2014, there was a total of $1,444,000 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 method.

Stockholders' Equity

Stockholders' Equity	3 Months Ended
	Dec. 31, 2014
Stockholders' Equity	Note 18 — Stockholders’ Equity There were no dividends declared or paid during the three months ended December 31, 2014 and 2013. Dividends are declared at the discretion of the board of directors and depend upon the Company’s financial condition, operating results, capital requirements and other factors that the board of directors deems relevant. In addition, agreements with the Company’s lenders may, from time to time, restrict the ability to pay dividends. As of December 31, 2014, there were no such restrictions. No dividends were declared for the three month periods ended December 31, 2014 and 2013.

Fair Value of Financial Measure

Fair Value of Financial Measurements and Disclosures	3 Months Ended
	Dec. 31, 2014
Fair Value of Financial Measurements and Disclosures	Note 19 — Fair Value of Financial Measurements and Disclosures 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: December 31, 2014 September 30, 2014 Carrying Fair Carrying Fair Amount Value Amount Value Financial assets Available-for-sale investments (Level 1) $ 66,991,000 $ 66,991,000 $ 66,799,000 $ 66,799,000 Consumer receivables acquired for liquidation (Level 3) 25,728,000 44,478,000 29,444,000 50,962,000 Structured settlements (Level 3) 46,031,000 46,031,000 42,079,000 42,079,000 Other investments (1) 5,000,000 5,000,000 — — Financial liabilities Other debt – CBC, revolving line of credit (Level 3) 5,331,000 5,331,000 19,583,000 19,583,000 Other debt – CBC, non-recourse notes payable with varying installments (Level 3) 33,141,000 33,141,000 12,712,000 12,712,000 (1) The Company has elected to early adopt ASU 2015-07 and in accordance with ASU 2015-07, certain investments that are measured at fair value using the net asset value per share(or its equivalent) have not been classified in the fair value hierarchy. The fair value amounts presented in this table are intended to permit reconciliation of the fair value hierarchy to the amounts presented in the consolidated balance sheet. 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. Other investments – The Company estimated the fair value using the net asset value per share of the investment. There are no unfunded commitments and the investment cannot be redeemed for 5 years. 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 December 31, 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 December 31, 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 three month period ended December 31, 2014. The Company had no Level 2 or Level 3 available-for-sale investments during the first quarter of fiscal year 2015. The following table sets forth the Company’s quantitative information about its Level 3 fair value measurements as of December 31, 2014: Fair Value Valuation Unobservable Rate Structured settlements at fair value $ 46,031,000 Discounted Discount 5.5 % The changes in structured settlements at fair value using significant unobservable inputs (Level 3) during the three months ended December 31, 2014 were as follows: Balance at September 30, 2014 $ 42,079,000 Total gains included in earnings 1,202,000 Purchases 3,108,000 Sales — Interest accreted 907,000 Payments received (1,265,000 ) Total $ 46,031,000 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 December 31, 2014 $ 1,202,000 Realized and unrealized gains and losses included in earnings in the accompanying consolidated statements of income for the three months ended September 30, 2014 are reported in the following revenue categories: Total gains (losses) included in the three months ended December 31, 2014 $ 1,202,000 Change in unrealized gains (losses) relating to assets still held at December 31, 2014 $ 1,202,000

Segment Reporting

Segment Reporting	3 Months Ended
	Dec. 31, 2014
Segment Reporting	Note 20 - Segment Reporting The Company operates through strategic business units that are aggregated into four reportable segments: Consumer receivables, Personal injury claims, structured settlements, and GAR disability advocates. The four reportable segments consist of the following: • Consumer receivables - ® ® • Personal injury claims • Structured settlements. On December 31, 2013, the Company purchased an 80% interest in CBC Settlement Funding, LLC. CBC purchases periodic structured settlements and annuity policies from individuals in exchange for a lump sum payment. • GAR Disability Advocates Certain non-allocated administrative costs, interest income, interest expense and various other non-operating income and expenses are reflected in Corporate. Corporate assets include cash and cash equivalents, available-for-sale securities, property and equipment, goodwill, deferred taxes and other assets. The following table shows results by reporting segment for the three month period ended December 31, 2014 and 2013 and total assets as of December 31 and September 30, 2014: Personal GAR (Dollars in millions) Fiscal Consumer Injury Structured Disability Total Year Receivables Claims Settlements Advocates Corporate Company Revenues 2015 $ 5.0 $ 2.5 $ 2.2 $ — $ — $ 9.7 2014 4.6 2.8 — — — 7.4 Other income 2015 — — — 0.2 0.6 0.8 2014 — — — 0.0 0.5 0.5 Income before income taxes 2015 3.4 (0.2 ) 0.1 (1.2 ) (1.7 ) 0.4 2014 2.6 2.2 — (0.7 ) (1.9 ) 2.2 Total assets 2015 25.7 34.7 42.7 1.4 118.8 223.3 2014 30.5 34.0 38.5 1.0 113.1 217.1 Capital expenditures 2015 — — — — — — 2014 — — — — — — Depreciation 2015 — — — — 0.2 0.2 2014 — — — — 0.2 0.2 The Company does not have any intersegment revenue transactions.

Subsequent Events

Subsequent Events	3 Months Ended
	Dec. 31, 2014
Subsequent Events	Note 21 - Subsequent Events On March 11, 2015, CBC entered into the Ninth Amendment. This amendment, effective March 1, 2015, extended the maturity date from February 28, 2015 to March 1, 2017. Additionally, the credit line was increased from $22.0 million to $25.0 million and the interest rate floor was decreased from 4.75% to 4.1%. Other terms and conditions are materially unchanged (see Note 11 – Other Debt – CBC).

Business and Basis of Present32

Business and Basis of Presentation (Policies)	3 Months Ended
	Dec. 31, 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 Disability Advocates, LLC (“GAR Disability Advocates”) and other subsidiaries, not all wholly owned (collectively, the “Company”), has been engaged in the business of purchasing, managing for its own account and servicing distressed consumer receivables, including charged-off receivables and semi-performing receivables, since 1994, as well as more recent business segments, discussed below. 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. 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 ® ® 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. Pegasus provides funding for individuals in need of short term funds pending insurance settlements of their personal injury claims. The funds will be recouped when the underlying insurance settlements are paid. The long periods of time taken by insurance companies to settle and pay such claims resulting from lengthy litigation and the court process is fueling the demand for such funding. CBC provides liquidity to consumers by purchasing certain deferred payment streams including, but not limited to, structured settlements and annuities. CBC generates business from direct marketing as well as through wholesale purchases from brokers or other third parties. CBC has its principal office in Conshohocken, Pennsylvania. CBC primarily warehouses the receivables it originates and periodically resells or securitizes those assets on a pooled basis. The structured settlement marketplace is regulated by federal and state law, requiring that each transaction is reviewed and approved by court order. GAR Disability Advocates is a social security disability advocacy group, which obtains and represents individuals 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 December 31, 2014, the condensed consolidated statements of income for the three month periods ended December 31, 2014 and 2013, the condensed consolidated statements of comprehensive income for the three month periods ended December 31, 2014 and 2013, the condensed consolidated statement of stockholders’ equity as of and for the three months ended December 31, 2014 and 2013 the condensed consolidated statements of cash flows for the three month periods ended December 31, 2014 and 2013, are unaudited. The September 30, 2014 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, 2014. In the opinion of management, all adjustments (which include only normal recurring adjustments) necessary to present fairly our financial position at December 31, 2014 and September 30, 2014, the results of operations for the three month periods ended December 31, 2014 and 2013 and cash flows for the three month periods ended December 31, 2014 and 2013 have been made. The results of operations for the three month periods ended December 31, 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, a $300 million portfolio purchase in March 2007 (the “Portfolio Purchase”), which, as of December 31, 2014, had a value of $17.0 million. Blue Bell Receivables I, LLC (“BBR I”), Blue Bells Receivables II, LLC (“BBR II”), Blue Bell Receivables III, LLC (“BBR III”) and Blue Bell Receivables IV, LLC (“BBR IV”), collectively 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 hold structured settlements of $46.0 million and the non-recourse notes payable of $33.1 million as of December 31, 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, 2014 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 (“GAAP”) 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.
Concentration of Credit Risk - Cash	Concentration of Credit Risk—Cash The Company considers all highly liquid investments with a maturity date of three months or less at the date of purchase to be cash equivalents. Cash balances are maintained at various depository institutions and are insured by the Federal Deposit Insurance Corporation (“FDIC”). The Company had cash balances with 11 banks at December 31, 2014 that exceeded the balance insured by the FDIC by approximately $24.3 million. The Company does not believe it is exposed to any significant credit risk for cash.
Reclassifications	Reclassifications Personal injury claims income had previously been included in other income in the prior period’s financial statements and has been reclassified to revenue in the current period’s statement of income.
Recent Accounting Pronouncements	Recent Accounting Pronouncements 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. In February 2015, the FASB issued ASU 2015-02, “Consolidation (Topic 810): Amendments to the Consolidation Analysis,” which amends the consolidation requirements in ASC 810. This update is effective for public business entities for the first interim or annual period beginning after December 15, 2015. We are currently reviewing this ASU to determine if it will have an impact on our consolidated financial statements. In May 2015, the FASB issued ASU 2015-07, “Fair Value Measurement (Topic 820): Disclosures for Investments in Certain Entities that Calculate Net Asset Value per Share (or Its Equivalent)”. The amendments apply to reporting entities that elect to measure the fair value of an investment using the net asset value (“NAV”) per share (or its equivalent) practical equivalent. The amendments remove the requirement to categorize within the fair value hierarchy all investments for which fair value is measured using the NAV per share practical expedient. The amendments in this ASU are effective for reporting periods beginning after December 15, 2015, with early adoption permitted. The Company has reviewed this ASU and has elected to early adopt these amendments in the current reporting period and has removed certain investments that are measured using the NAV practical expedient from the fair value hierarchy in all periods presented in the Company’s consolidated financial statements.

Available-for-Sale Investments

Available-for-Sale Investments (Tables)	3 Months Ended
	Dec. 31, 2014
Available-for-Sale	Investments classified as available-for-sale at December 31, 2014 and September 30, 2014, consist of the following: Amortized Unrealized Unrealized Fair Cost Gains Losses Value December 31, 2014 $ 67,021,000 $ 188,000 $ (218,000 ) $ 66,991,000 September 30, 2014 $ 66,559,000 $ 411,000 $ (171,000 ) $ 66,799,000

Consumer Receivables Acquired34

Consumer Receivables Acquired for Liquidation (Tables)	3 Months Ended
	Dec. 31, 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: For the Three Months Ended December 31, 2014 Cost Interest Recovery Method Method Total Balance, beginning of period $ — $ 29,444,000 $ 29,444,000 Acquisitions of receivable portfolio — — — Net cash collections from collection of consumer receivables acquired for liquidation — (8,750,000 ) (8,750,000 ) Net cash collections represented by account sales of consumer receivables acquired for liquidation — (3,000 ) (3,000 ) Finance income recognized — 5,037,000 5,037,000 Balance, end of period $ — $ 25,728,000 $ 25,728,000 Finance income as a percentage of collections — 57.5 % 57.5 % For the Three Months Ended December 31, 2013 Cost Interest Recovery Method Method Total Balance beginning of period 13,121,000 51,133,000 64,254,000 Reclassification of interest method portfolios to cost recovery method (13,121,000 ) 13,121,000 — Acquisitions of receivable portfolio — 520,000 520,000 Net cash collections from collection of consumer receivables acquired for liquidation — (10,203,000 ) (10,203,000 ) Net cash collections represented by account sales of consumer receivables acquired for liquidation — (1,000 ) (1,000 ) Finance income recognized — 4,648,000 4,648,000 Balance, end of period $ — $ 59,218,000 $ 59,218,000 Finance income as a percentage of collections — 45.6 % 45.6 %
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 three month periods ended December 31, 2014 and 2013, respectively. For the Three Months Ended 2014 2013 Gross collections (1) $ 15,192,000 $ 17,325,000 Commissions and fees (2) 6,439,000 7,121,000 Net collections $ 8,753,000 $ 10,204,000 (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 the Portfolio Purchase. 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 (Tables)

Acquisition of CBC (Tables)	3 Months Ended
	Dec. 31, 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 11: 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 9: Goodwill) 1,360,000 Purchase Price $ 5,939,000

Structured Settlements (Tables)

Structured Settlements (Tables)	3 Months Ended
	Dec. 31, 2014
Components of Structured Settlements	Structured settlements consist of the following as of December 31, 2014 and September 30, 2014: December 31 September 30 Maturity $ 71,641,000 $ 64,852,000 Unearned income (25,610,000 ) (22,773,000 ) Net collections $ 46,031,000 $ 42,079,000
Structured Settlements	Encumbrances on structured settlements as of December 31 and September 30, 2014 are as follows: December 31 September 30 Notes payable secured by settlement receivables with principal and interest outstanding payable until June 2025 (1) $ 2,468,000 $ 2,521,000 Notes payable secured by settlement receivables with principal and interest outstanding payable until August 2026 (1) 5,214,000 5,363,000 Notes payable secured by settlement receivables with principal and interest outstanding payable until April 2032 (1) 4,646,000 4,828,000 Notes payable secured by settlement receivables with principal and interest outstanding payable until February 2037 (1) 20,813,000 — $25,000,000 revolving line of credit (1) 5,331,000 19,583,000 Encumbered structured settlements 38,472,000 32,295,000 Structured settlements not encumbered 7,559,000 9,784,000 Total structured settlements $ 46,031,000 $ 42,079,000 (1) See Note 11 – Other Debt – CBC
Expected Cash Flows of Structured Settlements Based on Maturity Value	At December 31, 2014, the expected cash flows of structured settlements based on maturity value are as follows: September 30, 2015 (9 months) $ 3,783,000 September 30, 2016 5,620,000 September 30, 2017 5,134,000 September 30, 2018 4,197,000 September 30, 2019 4,388,000 Thereafter 48,519 ,000 Total $ 71,641,000

Other Investments (Tables)

Other Investments (Tables)	3 Months Ended
	Dec. 31, 2014
Reserves for Bad Debts	Pegasus records reserves for bad debts, which, at December 31, 2014, amounted to $3.8 million, as follows: Three Months Ended December 31, 2014 Balance at beginning of period $ 2,474,000 Provisions for losses 1,561,000 Write offs (278,000 ) Balance at end of period $ 3,757,000

Furniture & Equipment (Tables)

Furniture & Equipment (Tables)	3 Months Ended
	Dec. 31, 2014
Furniture and Equipment	Furniture and equipment consist of the following as of the dates indicated: December 31, September 30, 2014 2014 Furniture $ 323,000 $ 323,000 Equipment 3,622,000 3,622,000 Software 1,211,000 1,211,000 Leasehold improvements 99,000 99,000 5,255,000 5,255,000 Less accumulated depreciation 4,649,000 4,499,000 Balance, end of period $ 606,000 $ 756,000

Goodwill (Tables)

Goodwill (Tables)	3 Months Ended
	Dec. 31, 2014
Goodwill	The goodwill balances at December 31, 2014 and September 30, 2014 are as follows: December 31, September 30, 2014 2014 Balance at beginning of period $ 2,770,000 $ 1,410,000 Goodwill from acquisition (see Note 5: Acquisition of CBC) — 1,360,000 Balance, end of period $ 2,770,000 $ 2,770,000

Other Debt - CBC (Tables)

Other Debt - CBC (Tables)	3 Months Ended
	Dec. 31, 2014
CBC
Components of Other Debt from Acquisition	The following table details the other debt at December 31, 2014 and September 30, 2014: Interest Rate December 31 September 30 Notes payable secured by settlement receivables with principal and interest outstanding payable until June 2025 8.75 % $ 2,468,000 $ 2,521,000 Notes payable secured by settlement receivables with principal and interest outstanding payable until August 2026 7.25 % 5,214,000 5,363,000 Notes payable secured by settlement receivables with principal and interest outstanding payable until April 2032 7.125 % 4,646,000 4,828,000 Notes payable secured by settlement receivables with principal and interest outstanding payable until February 2037 5.39 % 20,813,000 — Subtotal notes payable 33,141,000 12,712,000 $25,000,000 revolving line of credit expiring on March 1, 2017 4.75 % 5,331,000 19,583,000 Total debt – CBC $ 38,472,000 $ 32,295,000

Net Income per Share (Tables)

Net Income per Share (Tables)	3 Months Ended
	Dec. 31, 2014
Computation of Basic and Diluted per Share	The following table presents the computation of basic and diluted per share data for the three months ended December 31, 2014 and 2013: December 31, 2014 December 31, 2013 Net Weighted Per Net Weighted Per Income Shares Amount Income Shares Amount Basic $ 370,000 13,013,719 $ 0.03 $ 947,000 12,974,239 $ 0.07 Effect of Dilutive Stock 294,854 225,845 Diluted $ 370,000 13,308,573 $ 0.03 $ 947,000 13,200,084 $ 0.07

Stock Based Compensation (Table

Stock Based Compensation (Tables)	3 Months Ended
	Dec. 31, 2014
Weighted Average Assumptions Used in Option Pricing Model	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 %

Stock Option Plans (Tables)

Stock Option Plans (Tables)	3 Months Ended
	Dec. 31, 2014
Stock Option Transactions	The following table summarizes stock option transactions under the 2012 Plan, the 2002 Plan, and the Equity Compensation Plan: Three Months Ended December 31, 2014 2013 Weighted Weighted Number Average Number Average Of Exercise of Exercise Shares Price Shares Price Outstanding options at the beginning of period 1,403,259 $ 10.78 1,622,771 $ 11.31 Options granted — — 156,700 8.49 Options exercised (60,000 ) 7.83 — — Options forfeited/canceled (344,259 ) 17.99 (210,767 ) 14.39 Outstanding options at the end of period 999,000 $ 8.47 1,568,704 $ 10.61 Exercisable options at the end of period 832,319 $ 8.40 977,035 $ 11.95
Summary of Outstanding Options	The following table summarizes information about the 2012 Plan, 2002 Plans, and the Equity Compensation Plan outstanding options as of December 31, 2014: Options Outstanding Options Exercisable Weighted Weighted Weighted Number Remaining Average Number Average of Shares Contractual Exercise of Shares Exercise Range of Exercise Price Outstanding Life (in Years) Price Exercisable Price $2.8751 – $5.7500 7,100 4.3 $ 2.95 7,100 $ 2.95 $5.7501 – $8.6250 802,900 6.7 7.94 705,557 7.86 $8.6251 – $25.8750 174,000 8.1 9.40 104,662 9.47 $25.8751 – $28.7500 15,000 2.0 28.75 15,000 28.75 999,000 6.8 $ 8.47 832,319 $ 8.40
Summary of Restricted Stock Transactions	The following table summarizes information about restricted stock transactions: Three Months Ended December 31, 2014 2013 Weighted Weighted Number of Average Number of Average Grant Shares Fair Value Shares Fair Value Unvested at the beginning of period 68,214 $ 9.57 102,321 $ 9.57 Awards granted 15,000 8.30 — — Vested (34,107 ) 9.57 (34,107 ) 9.57 Forfeited — — — — Unvested at the end of period 49,107 $ 9.18 68,214 $ 9.57

Fair Value of Financial Measu44

Fair Value of Financial Measurements and Disclosures (Tables)	3 Months Ended
	Dec. 31, 2014
Estimated Fair Value of Company's Financial Instruments	The estimated fair value of the Company’s financial instruments is summarized as follows: December 31, 2014 September 30, 2014 Carrying Fair Carrying Fair Amount Value Amount Value Financial assets Available-for-sale investments (Level 1) $ 66,991,000 $ 66,991,000 $ 66,799,000 $ 66,799,000 Consumer receivables acquired for liquidation (Level 3) 25,728,000 44,478,000 29,444,000 50,962,000 Structured settlements (Level 3) 46,031,000 46,031,000 42,079,000 42,079,000 Other investments (1) 5,000,000 5,000,000 — — Financial liabilities Other debt – CBC, revolving line of credit (Level 3) 5,331,000 5,331,000 19,583,000 19,583,000 Other debt – CBC, non-recourse notes payable with varying installments (Level 3) 33,141,000 33,141,000 12,712,000 12,712,000 (1) The Company has elected to early adopt ASU 2015-07 and in accordance with ASU 2015-07, certain investments that are measured at fair value using the net asset value per share(or its equivalent) have not been classified in the fair value hierarchy. The fair value amounts presented in this table are intended to permit reconciliation of the fair value hierarchy to the amounts presented in the consolidated balance sheet.
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 December 31, 2014: Fair Value Valuation Unobservable Rate Structured settlements at fair value $ 46,031,000 Discounted Discount 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 three months ended December 31, 2014 were as follows: Balance at September 30, 2014 $ 42,079,000 Total gains included in earnings 1,202,000 Purchases 3,108,000 Sales — Interest accreted 907,000 Payments received (1,265,000 ) Total $ 46,031,000 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 December 31, 2014 $ 1,202,000
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 three months ended September 30, 2014 are reported in the following revenue categories: Total gains (losses) included in the three months ended December 31, 2014 $ 1,202,000 Change in unrealized gains (losses) relating to assets still held at December 31, 2014 $ 1,202,000

Segment Reporting (Tables)

Segment Reporting (Tables)	3 Months Ended
	Dec. 31, 2014
Segment Reporting	The following table shows results by reporting segment for the three month period ended December 31, 2014 and 2013 and total assets as of December 31 and September 30, 2014: Personal GAR (Dollars in millions) Fiscal Consumer Injury Structured Disability Total Year Receivables Claims Settlements Advocates Corporate Company Revenues 2015 $ 5.0 $ 2.5 $ 2.2 $ — $ — $ 9.7 2014 4.6 2.8 — — — 7.4 Other income 2015 — — — 0.2 0.6 0.8 2014 — — — 0.0 0.5 0.5 Income before income taxes 2015 3.4 (0.2 ) 0.1 (1.2 ) (1.7 ) 0.4 2014 2.6 2.2 — (0.7 ) (1.9 ) 2.2 Total assets 2015 25.7 34.7 42.7 1.4 118.8 223.3 2014 30.5 34.0 38.5 1.0 113.1 217.1 Capital expenditures 2015 — — — — — — 2014 — — — — — — Depreciation 2015 — — — — 0.2 0.2 2014 — — — — 0.2 0.2

Business and Basis of Present46

Business and Basis of Presentation - Additional Information (Detail) $ in Millions	Dec. 31, 2013	Dec. 31, 2014USD ($)Bank	Mar. 31, 2007USD ($)
FDIC
Basis Of Presentation And Significant Accounting Policies [Line Items]
Number of banks in which cash balances maintained | Bank		11
Cash balance that exceed the balance insured by FDIC		$ 24.3
Palisades XVI | Great Seneca
Basis Of Presentation And Significant Accounting Policies [Line Items]
Portfolio holdings amount		17	$ 300
Blue Bell Entities
Basis Of Presentation And Significant Accounting Policies [Line Items]
Structured settlement holding amount		46
Non-recourse notes payable		$ 33.1
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%	80.00%

Available for Sale (Detail)

Available for Sale (Detail) - USD ($)	Dec. 31, 2014	Sep. 30, 2014
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	$ 67,021,000	$ 66,559,000
Unrealized Gains	188,000	411,000
Unrealized Losses	(218,000)	(171,000)
Fair Value	$ 66,991,000	$ 66,799,000

Available-for-Sale Investment48

Available-for-Sale Investments - Additional Information (Detail)	3 Months Ended
	Dec. 31, 2014USD ($)Investment	Dec. 31, 2013USD ($)Investment
Investments [Line Items]
Number of investments sold	2	1
Realized gain (loss) of investment | $	$ 39,000	$ (25,000)
Capital gains received | $	234,000	186,000
Aggregate realized gain related to available-for sale investments | $	$ 273,000	$ 161,000
Number of investments	7
Number of unrealized loss position in investment	5
Number of unrealized loss position existed for 12 months or more	3

Changes in Balance Sheet Accoun

Changes in Balance Sheet Account of Consumer Receivables Acquired for Liquidation (Detail) - USD ($)	3 Months Ended
	Dec. 31, 2014	Dec. 31, 2013
Consumer Receivables Acquired For Liquidation [Line Items]
Balance, beginning of period	$ 29,444,000	$ 64,254,000
Acquisitions of receivable portfolio		520,000
Net cash collections from collection of consumer receivables acquired for liquidation	(8,750,000)	(10,203,000)
Net cash collections represented by account sales of consumer receivables acquired for liquidation	(3,000)	(1,000)
Finance income recognized	5,037,000	4,648,000
Balance, end of period	$ 25,728,000	$ 59,218,000
Finance income as a percentage of collections	57.50%	45.60%
Interest Method
Consumer Receivables Acquired For Liquidation [Line Items]
Balance, beginning of period		$ 13,121,000
Reclassification of interest method portfolios to cost recovery method		(13,121,000)
Cost Recovery Method
Consumer Receivables Acquired For Liquidation [Line Items]
Balance, beginning of period	$ 29,444,000	51,133,000
Reclassification of interest method portfolios to cost recovery method		13,121,000
Acquisitions of receivable portfolio		520,000
Net cash collections from collection of consumer receivables acquired for liquidation	(8,750,000)	(10,203,000)
Net cash collections represented by account sales of consumer receivables acquired for liquidation	(3,000)	(1,000)
Finance income recognized	5,037,000	4,648,000
Balance, end of period	$ 25,728,000	$ 59,218,000
Finance income as a percentage of collections	57.50%	45.60%

Consumer Receivables Acquired50

Consumer Receivables Acquired for Liquidation - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended
	Dec. 31, 2014	Dec. 31, 2013
Consumer Receivables Acquired For Liquidation [Line Items]
Face value of charged-off consumer receivables	$ 0	$ 8.6
Purchased cost of charged-off consumer receivables		$ 0.5

Collections on Gross Basis Less

Collections on Gross Basis Less Commissions and Direct Costs (Detail) - USD ($)		3 Months Ended
		Dec. 31, 2014	Dec. 31, 2013
Consumer Receivables Acquired For Liquidation [Line Items]
Gross collections	[1]	$ 15,192,000	$ 17,325,000
Commissions and fees	[2]	6,439,000	7,121,000
Net collections		$ 8,753,000	$ 10,204,000
[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 the Portfolio Purchase. 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 Le52

Collections on Gross Basis Less Commissions and Direct Costs (Parenthetical) (Detail)	3 Months Ended
	Dec. 31, 2014
Consumer Receivables Acquired For Liquidation [Line Items]
Fee charged on portfolio purchase	3.00%

Acquisition of CBC - Additional

Acquisition of CBC - Additional Information (Detail) - USD ($)	Dec. 31, 2013	Dec. 31, 2014	Dec. 31, 2013
Business Acquisition [Line Items]
Total Revenue		$ 9,668,000	$ 7,427,000
Pro forma basis, total revenues			9,062,000
Net income attributable to Asta Funding, Inc.		$ 370,000	947,000
Pro forma basis, net income attributable to Asta Funding, Inc			$ 989,000
CBC
Business Acquisition [Line Items]
Ownership interest acquired, percent	80.00%		80.00%
Purchase price	$ 5,900,000
Financing to CBC	$ 5,000,000		$ 5,000,000
Non-controlling ownership interest, percent	20.00%		20.00%
Minimum distribution to be received by parent before distribution to noncontrolling Interests	$ 2,337,190
Fair value of non-controlling interest	$ 0

Fair Value of Assets Acquired a

Fair Value of Assets Acquired and Liabilities Assumed (Detail) - USD ($)	Dec. 31, 2013	Sep. 30, 2014	Dec. 31, 2014
Business Acquisition [Line Items]
Cash	$ 351,000
Structured settlements	30,436,000	$ 42,079,000	$ 46,031,000
Other assets	11,000
Other liabilities	(356,000)
Other debt (see Note 11: 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 9: Goodwill)	1,360,000	$ 1,360,000
Purchase Price	$ 5,939,000

Fair Value of Assets Acquired55

Fair Value of Assets Acquired and Liabilities Assumed (Parenthetical) (Detail) - USD ($) $ in Millions	Dec. 31, 2014	Sep. 30, 2014	Dec. 31, 2013
Business Acquisition [Line Items]
Non-recourse notes payable	$ 33.2	$ 12.7	$ 13.8

Components of Structured Settle

Components of Structured Settlements (Detail) - USD ($)	Dec. 31, 2014	Sep. 30, 2014	Dec. 31, 2013
Accounts, Notes, Loans and Financing Receivable [Line Items]
Maturity	$ 71,641,000	$ 64,852,000
Unearned income	(25,610,000)	(22,773,000)
Net collections	$ 46,031,000	$ 42,079,000	$ 30,436,000

Structured Settlements (Detail)

Structured Settlements (Detail) - Structured Settlement - USD ($)		Dec. 31, 2014	Sep. 30, 2014
Debt Instrument [Line Items]
$25,000,000 revolving line of credit	[1]	$ 5,331,000	$ 19,583,000
Total structured settlements		46,031,000	42,079,000
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]	2,468,000	2,521,000
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]	5,214,000	5,363,000
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]	4,646,000	4,828,000
Notes payable secured by settlement receivables with principal and interest outstanding payable until February 2037
Debt Instrument [Line Items]
Notes payable secured by settlement receivables with all principal and interest outstanding payable, Fair value	[1]	20,813,000
Structured Settlements Encumbered
Debt Instrument [Line Items]
Total structured settlements		38,472,000	32,295,000
Structured Settlements Not Encumbered
Debt Instrument [Line Items]
Total structured settlements		$ 7,559,000	$ 9,784,000
[1]	See Note 11 - Other Debt - CBC

Structured Settlements (Parenth

Structured Settlements (Parenthetical) (Detail) - USD ($)		3 Months Ended
		Dec. 31, 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		$ 25,000,000
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
Notes payable secured by settlement receivables with principal and interest outstanding payable until February 2037 | Structured Settlement
Debt Instrument [Line Items]
Notes payable secured by settlement receivables with all principal and interest outstanding payable	[1]	2037-02
[1]	See Note 11 - Other Debt - CBC

Expected Cash Flows of Structur

Expected Cash Flows of Structured Settlements Based on Maturity Value (Detail) - USD ($)	Dec. 31, 2014	Sep. 30, 2014
Accounts, Notes, Loans and Financing Receivable [Line Items]
September 30, 2015 (9 months)	$ 3,783,000
September 30, 2016	5,620,000
September 30, 2017	5,134,000
September 30, 2018	4,197,000
September 30, 2019	4,388,000
Thereafter	48,519,000
Total	$ 71,641,000	$ 64,852,000

Other Investments - Additional

Other Investments - Additional Information (Detail) - USD ($)	May. 18, 2012	Dec. 31, 2014	Dec. 31, 2013	Sep. 30, 2014
Other Investments [Line Items]
Net income (loss) attributable to non-controlling interest		$ (49,000)	$ 449,000
Revolving line of credit	$ 1,500,000
Bearing interest at prime rate, with initial term	24 months
Outstanding loan balance		1,500,000
Company's investment in cases through BPCM, reserve established amount		2,400,000
Recognized revenue through BPCM		0	0
After Amendment
Other Investments [Line Items]
Revolving line of credit		1,500,000
Pegasus Legal Funding LLC
Other Investments [Line Items]
Earnings in interest and fees		2,500,000	2,800,000
Company's investment in personal injury		33,400,000		$ 32,400,000
Net income (loss) attributable to non-controlling interest		(72,000)	$ 449,000
Reserves for bad debts		$ 3,757,000		$ 2,474,000

Reserves for Bad Debts (Detail)

Reserves for Bad Debts (Detail) - Pegasus Legal Funding LLC	3 Months Ended
	Dec. 31, 2014USD ($)
Accounts, Notes, Loans and Financing Receivable [Line Items]
Balance at beginning of period	$ 2,474,000
Provisions for losses	1,561,000
Write offs	(278,000)
Balance at end of period	$ 3,757,000

Furniture and Equipment (Detail

Furniture and Equipment (Detail) - USD ($)	Dec. 31, 2014	Sep. 30, 2014
Property, Plant and Equipment [Line Items]
Total	$ 5,255,000	$ 5,255,000
Less accumulated depreciation	4,649,000	4,499,000
Furniture and equipment, net	606,000	756,000
Furniture
Property, Plant and Equipment [Line Items]
Total	323,000	323,000
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

Goodwill - Additional Informati

Goodwill - Additional Information (Detail) - USD ($)	3 Months Ended
	Dec. 31, 2014	Dec. 31, 2013
Goodwill [Line Items]
Impairment loss	$ 0	$ 0

Goodwill (Detail)

Goodwill (Detail) - USD ($)	Dec. 31, 2013	Sep. 30, 2014
Goodwill [Line Items]
Beginning balance		$ 1,410,000
Goodwill from acquisition (see Note 5: Acquisition of CBC)	$ 1,360,000	1,360,000
Ending balance		$ 2,770,000

Non-Recourse Debt - Additional

Non-Recourse Debt - Additional Information (Detail) - USD ($)	Jun. 03, 2014	May. 02, 2014	Aug. 07, 2013	Mar. 31, 2007	Jun. 30, 2014
Debt Instrument [Line Items]
Receivables financing agreement, consecutive months				3 years
Portfolio purchase				$ 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					$ 26,100,000
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
Minimum | BMO
Debt Instrument [Line Items]
Potential long-term liability			$ 0
Maximum | BMO
Debt Instrument [Line Items]
Potential long-term liability			$ 1,400,000
Receivables Financing Agreement
Debt Instrument [Line Items]
Receivables Financing Agreement				$ 227,000,000

Other Debt - CBC - Additional I

Other Debt - CBC - Additional Information (Detail) - USD ($)	Mar. 27, 2014	Dec. 31, 2014	Dec. 31, 2013	Nov. 26, 2014	Sep. 30, 2014	Sep. 29, 2014	Jul. 15, 2014	May. 02, 2014	May. 18, 2012
Debt Instrument [Line Items]
Assumed debt related to acquisition			$ 25,863,000
Debt amount of settlement		$ 18,397,000	2,500,000
Line of credit, Current borrowing capacity								$ 20,000,000
Debt instrument, issued									$ 1,500,000
Other long term debt outstanding amount		38,472,000			$ 32,295,000
Issuance of debt notes by Special Purpose Entities		33,200,000	13,800,000		12,700,000
CBC
Debt Instrument [Line Items]
Assumed debt related to acquisition			25,863,000
Debt amount of settlement			2,500,000
Line of credit, Current borrowing capacity	$ 15,000,000	$ 25,000,000	$ 12,500,000			$ 22,000,000	$ 20,000,000
Revolving line of credit, interest rate	4.75%	4.75%	5.50%
Revolving line of credit, expiring date	Feb. 28, 2015	Mar. 1, 2017
Other long term debt outstanding amount		$ 38,472,000			32,295,000
Amount from line of credit facility		5,331,000			19,583,000
Issuance of debt notes by Special Purpose Entities		33,141,000			$ 12,712,000
Ownership interest acquired, percent			80.00%
CBC | Secured Debt
Debt Instrument [Line Items]
Debt instrument, issued				$ 20,800,000
Debt instrument, fixed interest rate				5.40%
Issuance of debt notes by Special Purpose Entities		$ 33,200,000
CBC | SPE
Debt Instrument [Line Items]
Ownership interest acquired, percent		100.00%

Component of Other Debt from Ac

Component of Other Debt from Acquisition (Detail) - USD ($)	Mar. 27, 2014	Dec. 31, 2014	Dec. 31, 2013	Sep. 30, 2014
Debt Instrument [Line Items]
Notes payable secured by settlement receivables with all principal and interest outstanding payable		$ 33,200,000	$ 13,800,000	$ 12,700,000
Total debt - CBC		$ 38,472,000		32,295,000
CBC
Debt Instrument [Line Items]
Revolving line of credit, interest rate	4.75%	4.75%	5.50%
Notes payable secured by settlement receivables with all principal and interest outstanding payable		$ 33,141,000		12,712,000
$25,000,000 revolving line of credit expiring on March 1, 2017		5,331,000		19,583,000
Total debt - CBC		$ 38,472,000		32,295,000
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 all principal and interest outstanding payable		$ 2,468,000		2,521,000
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 all principal and interest outstanding payable		$ 5,214,000		5,363,000
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 all principal and interest outstanding payable		$ 4,646,000		$ 4,828,000
CBC | Notes payable secured by settlement receivables with principal and interest outstanding payable until February 2037
Debt Instrument [Line Items]
Notes payable secured by settlement receivables with all principal and interest outstanding payable, interest rate		5.39%
Notes payable secured by settlement receivables with all principal and interest outstanding payable		$ 20,813,000

Component of Other Debt from 68

Component of Other Debt from Acquisition (Parenthetical) (Detail) - USD ($)	Mar. 27, 2014	Dec. 31, 2014	Sep. 29, 2014	Jul. 15, 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	$ 25,000,000	$ 22,000,000	$ 20,000,000		$ 12,500,000
Revolving line of credit, expiring date	Feb. 28, 2015	Mar. 1, 2017
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
CBC | Notes payable secured by settlement receivables with principal and interest outstanding payable until February 2037
Debt Instrument [Line Items]
Notes payable secured by settlement receivables with all principal and interest outstanding payable, maturity date		2037-02

Income Recognition, Impairmen69

Income Recognition, Impairments, and Commissions and Fees - Additional Information (Detail) - USD ($)	3 Months Ended
	Dec. 31, 2014	Dec. 31, 2013
Income Recognition And Impairments [Line Items]
Impairment charges	$ 0	$ 0

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail) - USD ($)	3 Months Ended
	Dec. 31, 2014	Dec. 31, 2013
Income Tax [Line Items]
Provision for income tax expense	23.40%	36.40%
State and local net operating loss carry forwards expiration dates	September 2,029
Valuation allowance	$ 0
New Jersey Division of Taxation
Income Tax [Line Items]
Net operating loss carryforward balance	$ 110,000,000
IRS | Earliest Tax Year
Income Tax [Line Items]
Current audit period	2,008
IRS | Latest Tax Year
Income Tax [Line Items]
Current audit period	2,012
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
	Dec. 31, 2014	Dec. 31, 2013
Schedule Of Computation Of Basic And Diluted Earnings Per Common Share [Line Items]
Basic, Net Income	$ 370,000	$ 947,000
Effect of Dilutive Stock	0	0
Diluted, Net Income	$ 370,000	$ 947,000
Basic, Weighted Average Shares	13,013,719	12,974,239
Effect of Dilutive Stock, Weighted Average Shares	294,854	225,845
Diluted, Weighted Average Shares	13,308,573	13,200,084
Basic, Per share amount	$ 0.03	$ 0.07
Effect of Dilutive Stock, Per share amount	0	0
Diluted, Per share amount	$ 0.03	$ 0.07

Net Income Per Share - Addition

Net Income Per Share - Additional Information (Detail) - $ / shares	3 Months Ended
	Dec. 31, 2014	Dec. 31, 2013
Computation of Earnings Per Share [Line Items]
Shares excluded from diluted earnings per share calculation	381,000	960,669
Weighted average exercise price	$ 9.69	$ 12.33

Stock Based Compensation - Addi

Stock Based Compensation - Additional Information (Detail) - shares	Oct. 02, 2014	Dec. 31, 2013	Dec. 31, 2014	Dec. 31, 2013	Sep. 30, 2014	Sep. 30, 2013
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares utilized		156,700		156,700
Stock option awarded		1,568,704	999,000	1,568,704	1,403,259	1,622,771
Officers
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock option awarded		70,000		70,000
Non Officer Employees
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock option awarded		86,700		86,700
Restricted stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares utilized	15,000		15,000	0
Vesting period	3 years
Employee Stock Option
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period		3 years

Weighted Average Assumptions Us

Weighted Average Assumptions Used in Option Pricing Model (Detail) - 1 months ended Dec. 31, 2013	Total
Compensation Related Costs Share Based Payments Disclosure [Line Items]
Risk-free interest rate	0.08%
Expected term (years)	6 years 6 months
Expected volatility	98.30%
Dividend yield	0.00%

Stock Option Plans - Additional

Stock Option Plans - Additional Information (Detail)	Oct. 02, 2014shares	Dec. 31, 2013shares	Dec. 31, 2014USD ($)Employeeshares	Dec. 31, 2013USD ($)shares	Dec. 31, 2012shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares utilized | shares		156,700		156,700
Intrinsic value of the stock options outstanding			$ 693,000
Intrinsic value of the stock options exercisable			666,000
Total intrinsic value of options exercised			76,000
Fair value of options exercised			$ 525,000
Options exercised, Shares | shares			60,000	0
Fair value of the stock options, vested			$ 2,998,000	$ 481,000
Weighted average remaining contractual life of exercisable options			6 years 6 months
Fair value of the stock options, granted			$ 0	1,021,000
Stock-based employee compensation			$ 432,000	418,000
Common Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options exercised, Shares | shares			60,000
Employee Stock Option
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based employee compensation			$ 338,000	336,000
Unrecognized compensation cost			$ 1,087,000
Unrecognized compensation cost, weighted average remaining period for recognition			1 year 7 months 6 days
Restricted stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based employee compensation			$ 94,000	82,000
Unrecognized compensation cost			$ 357,000
Unrecognized compensation cost, weighted average remaining period for recognition			1 year 4 months 24 days
Fair value of awards, vested			$ 326,000	$ 326,000
Awards granted during period | shares	15,000		15,000	0
Stock Options And Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation cost			$ 1,444,000
Stock-based employee compensation			$ 432,000	$ 418,000
Equity Compensation Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common Stock authorized | shares			1,000,000
Stock option awarded stock issued | shares			0
Stock Option Plan expiration date			Mar. 21, 2012
Two Thousand And Two Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common Stock authorized | shares			1,000,000
Stock option awarded stock issued | shares			0
Stock Option Plan expiration date			Mar. 5, 2012
Two Thousand And Twelve Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares utilized | shares			117,321
Eligible employees | Employee			62
Number of shares cancelled | shares			45,600
Number of shares available | shares			1,556,579
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
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

Stock Option Plans (Detail)

Stock Option Plans (Detail) - $ / shares	1 Months Ended	3 Months Ended
	Dec. 31, 2013	Dec. 31, 2014	Dec. 31, 2013
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Outstanding options at the beginning of period, Shares		1,403,259	1,622,771
Options granted, Shares	156,700		156,700
Options exercised, Shares		(60,000)	0
Options forfeited/canceled, Shares		(344,259)	(210,767)
Outstanding options at the end of period, Shares	1,568,704	999,000	1,568,704
Exercisable options at the end of period, Shares	977,035	832,319	977,035
Outstanding options at the beginning of period, Weighted Average Exercise Price		$ 10.78	$ 11.31
Options granted, Weighted Average Exercise Price			8.49
Options exercised, Weighted Average Exercise Price		7.83
Options forfeited/canceled, Weighted Average Exercise Price		17.99	14.39
Outstanding options at the end of period, Weighted Average Exercise Price	$ 10.61	8.47	10.61
Exercisable options at the end of period, Weighted Average Exercise Price	$ 11.95	$ 8.40	$ 11.95

Summary of Outstanding Options

Summary of Outstanding Options (Detail) - $ / shares	3 Months Ended
	Dec. 31, 2014	Sep. 30, 2014	Dec. 31, 2013	Sep. 30, 2013
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Options Outstanding, Number of Shares Outstanding	999,000	1,403,259	1,568,704	1,622,771
Options Outstanding, Weighted Average Remaining Contractual Life (in Years)	6 years 9 months 18 days
Options Outstanding, Weighted Average Exercise Price	$ 8.47	$ 10.78	$ 10.61	$ 11.31
Options Exercisable, Number of Shares Exercisable	832,319		977,035
Options Exercisable, Weighted Average Exercise Price	$ 8.40		$ 11.95
$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	7,100
Options Outstanding, Weighted Average Remaining Contractual Life (in Years)	4 years 3 months 18 days
Options Outstanding, Weighted Average Exercise Price	$ 2.95
Options Exercisable, Number of Shares Exercisable	7,100
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	802,900
Options Outstanding, Weighted Average Remaining Contractual Life (in Years)	6 years 8 months 12 days
Options Outstanding, Weighted Average Exercise Price	$ 7.94
Options Exercisable, Number of Shares Exercisable	705,557
Options Exercisable, Weighted Average Exercise Price	$ 7.86
$8.6251 - $25.8750
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	$ 25.8750
Options Outstanding, Number of Shares Outstanding	174,000
Options Outstanding, Weighted Average Remaining Contractual Life (in Years)	8 years 1 month 6 days
Options Outstanding, Weighted Average Exercise Price	$ 9.40
Options Exercisable, Number of Shares Exercisable	104,662
Options Exercisable, Weighted Average Exercise Price	$ 9.47
$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
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) - Restricted stock - $ / shares	Oct. 02, 2014	Dec. 31, 2014	Dec. 31, 2013
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unvested at the beginning of period, Shares		68,214	102,321
Awards granted, Shares	15,000	15,000	0
Vested, Shares		(34,107)	(34,107)
Forfeited, Shares		0	0
Unvested at the end of period, Shares		49,107	68,214
Unvested at the beginning of period, Weighted Average Grant Date Fair Value		$ 9.57	$ 9.57
Awards granted, Weighted Average Grant Date Fair Value		8.30
Vested, Weighted Average Grant Date Fair Value		9.57	9.57
Forfeited, Weighted Average Grant Date Fair Value		0	0
Unvested at the end of period, Weighted Average Grant Date Fair Value		$ 9.18	$ 9.57

Stockholder's Equity - Addition

Stockholder's Equity - Additional Information (Detail) - USD ($)	3 Months Ended
	Dec. 31, 2014	Dec. 31, 2013
Stockholders Equity Note [Line Items]
Cash dividends	$ 0	$ 0

Fair Value of Financial Measu80

Fair Value of Financial Measurements (Detail) - USD ($)		Dec. 31, 2014	Sep. 30, 2014	Dec. 31, 2013
Financial assets
Available-for-sale investments		$ 66,991,000	$ 66,799,000
Structured settlements		46,031,000	42,079,000	$ 30,436,000
Other investments		5,000,000
Financial liabilities
Other debt - CBC, non-recourse notes payable with varying installments		33,200,000	12,700,000	$ 13,800,000
Carrying Amount
Financial assets
Other investments	[1]	5,000,000
Carrying Amount | Level 1
Financial assets
Available-for-sale investments		66,991,000	66,799,000
Carrying Amount | Level 3
Financial assets
Consumer receivables acquired for liquidation		25,728,000	29,444,000
Structured settlements		46,031,000	42,079,000
Financial liabilities
Other debt - CBC, revolving line of credit		5,331,000	19,583,000
Other debt - CBC, non-recourse notes payable with varying installments		33,141,000	12,712,000
Fair Value
Financial assets
Other investments	[1]	5,000,000
Fair Value | Level 1
Financial assets
Available-for-sale investments		66,991,000	66,799,000
Fair Value | Level 3
Financial assets
Consumer receivables acquired for liquidation		44,478,000	50,962,000
Structured settlements		46,031,000	42,079,000
Financial liabilities
Other debt - CBC, revolving line of credit		5,331,000	19,583,000
Other debt - CBC, non-recourse notes payable with varying installments		$ 33,141,000	$ 12,712,000
[1]	The Company has elected to early adopt ASU 2015-07 and in accordance with ASU 2015-07, certain investments that are measured at fair value using the net asset value per share(or its equivalent) have not been classified in the fair value hierarchy. The fair value amounts presented in this table are intended to permit reconciliation of the fair value hierarchy to the amounts presented in the consolidated balance sheet.

Fair Value of Financial Measu81

Fair Value of Financial Measurements and Disclosures - Additional Information (Detail) - 3 months ended Dec. 31, 2014 - USD ($)	Total
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Other investments redemption period	5 years
Transfers into or (out of) Level 1 investments	$ 0

Quantitative Information about

Quantitative Information about Level 3 Fair Value Measurements (Detail) - Dec. 31, 2014 - USD ($)	Total
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Fair Value	$ 46,031,000
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) - Dec. 31, 2014 - USD ($)	Total
Fair Value Assets Liabilities Measured On Recurring Basis [Line Items]
Balance at beginning	$ 42,079,000
Total gains included in earnings	1,202,000
Purchases	3,108,000
Sales	0
Interest accreted	907,000
Payments received	(1,265,000)
Total	46,031,000
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 December 31, 2014	$ 1,202,000

Schedule of Realized and Unreal

Schedule of Realized and Unrealized Gains and Losses Included in Earnings in Accompanying Consolidated Statements of Income (Detail)	3 Months Ended
	Dec. 31, 2014USD ($)
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Total gains (losses) included in the three months ended December 31, 2014	$ 1,202,000
Change in unrealized gains (losses) relating to assets still held at December 31, 2014	$ 1,202,000

Segment Reporting - Additional

Segment Reporting - Additional Information (Detail)	Dec. 31, 2013	Dec. 31, 2014USD ($)Segment	Dec. 31, 2013USD ($)
Segment Reporting Information [Line Items]
Number of reportable segments | Segment		4
Revenues		$ 9,668,000	$ 7,427,000
Intersegment Eliminations
Segment Reporting Information [Line Items]
Revenues		$ 0	$ 0
CBC
Segment Reporting Information [Line Items]
Ownership interest	80.00%	80.00%
Pegasus
Segment Reporting Information [Line Items]
Ownership interest		80.00%

Segment Reporting (Detail)

Segment Reporting (Detail) - USD ($)	3 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Sep. 30, 2014
Segment Reporting Information [Line Items]
Revenues	$ 9,668,000	$ 7,427,000
Other income	794,000	543,000
Income before income taxes	419,000	2,194,000
Total assets	223,302,000		$ 217,138,000
Capital expenditures	0	0
Depreciation	150,000	150,000
Operating Segments | Consumer Receivables
Segment Reporting Information [Line Items]
Revenues	5,000,000	4,600,000
Income before income taxes	3,400,000	2,600,000
Total assets	25,700,000		30,500,000
Capital expenditures	0	0
Operating Segments | Personal Injury Claims
Segment Reporting Information [Line Items]
Revenues	2,500,000	2,800,000
Income before income taxes	(200,000)	2,200,000
Total assets	34,700,000		34,000,000
Capital expenditures	0	0
Operating Segments | Structured Settlements
Segment Reporting Information [Line Items]
Revenues	2,200,000
Income before income taxes	100,000
Total assets	42,700,000		38,500,000
Capital expenditures	0	0
Operating Segments | GAR Disability Advocates
Segment Reporting Information [Line Items]
Other income	200,000	0
Income before income taxes	(1,200,000)	(700,000)
Total assets	1,400,000		1,000,000
Capital expenditures	0	0
Corporate
Segment Reporting Information [Line Items]
Other income	600,000	500,000
Income before income taxes	(1,700,000)	(1,900,000)
Total assets	118,800,000		$ 113,100,000
Capital expenditures	0	0
Depreciation	$ 200,000	$ 200,000

Subsequent Events - Additional

Subsequent Events - Additional Information (Detail) - USD ($)	Mar. 11, 2015	Mar. 27, 2014	Dec. 31, 2014	Dec. 31, 2013	Sep. 29, 2014	Jul. 15, 2014	May. 02, 2014
Subsequent Event [Line Items]
Line of credit, Current borrowing capacity							$ 20,000,000
CBC
Subsequent Event [Line Items]
Revolving line of credit, expiring date		Feb. 28, 2015	Mar. 1, 2017
Line of credit, Current borrowing capacity		$ 15,000,000	$ 25,000,000	$ 12,500,000	$ 22,000,000	$ 20,000,000
Revolving line of credit, interest rate		4.75%	4.75%	5.50%
Subsequent Event | CBC
Subsequent Event [Line Items]
Revolving line of credit, expiring date	Mar. 1, 2017
Line of credit, Current borrowing capacity	$ 25,000,000
Revolving line of credit, interest rate	4.10%