Streetwide Asset Recovery: Who They Are and What to Do If They Contact You About an MCA Balance
StreetWide Asset Recovery Group, Inc. is a Hazlet, New Jersey collection agency whose own site says it works solely in the financial services sector, recovering securities-industry debt for brokerage firms, and whose president, Michael Colombo, spent his career running in-house collections at PaineWebber, Gruntal and GKN Securities. It is not a funder and not a lender. Federal bankruptcy dockets also list it as the notice address for a merchant cash advance funder (Fundrite LLC c/o Streetwide Asset Recovery), which is why a business owner with an MCA balance may hear from it. An earlier version of this page described Streetwide as an MCA funder and quoted factor rates for it. That was wrong and has been removed. If this agency is contacting you, a creditor has placed the account with it, and the paperwork behind that account decides what happens next.
What Streetwide Asset Recovery is
StreetWide Asset Recovery Group, Inc. (streetwideassetrecoverygroup.com), 100 Village Court, Suite 201, Hazlet, New Jersey 07730, phone (732) 217-3445, fax (732) 217-3136, with a New York office listed at 67 Wall Street, 22nd Floor, Suite 2211, New York, NY 10005, phone (212) 709-8117. The site, which carries a 2009 copyright, describes a collection agency that works solely in the financial services sector and specialises in the recovery of securities and securities-fraud related debt: unpaid margin balances, ex-employee debt and post-arbitration awards for broker-dealers. It names past clients such as Legg Mason Wood Walker, Raymond James, Morgan Keegan, Merrill Lynch, Wachovia Securities and Pershing, and says it settles about 90 percent of cases before arbitration.
Michael Colombo, the president, is described as having 26 years in brokerage-firm collections: PaineWebber from 1983, Gruntal and Co. from 1996 to 1998, and GKN Securities from 1998, where he built the firm's first national collections department and managed its arbitration process. The Better Business Bureau has no profile for the company as of September 24, 2026, so there is no rating, accreditation or complaint file to report.
What it is not: a funder, a lender or a merchant cash advance provider. There is no Streetwide advance, no factor rate and no reconciliation clause of its own. If our earlier page led you to expect any of those, disregard it.
Where it appears in the court record
- Creditor notice address for an MCA funder. In Witchey Enterprises, Inc. (Bankr. M.D. Pa., 5:19-bk-00645, filed February 2019), the court's 2022 notice list carries the entry Fundrite LLC c/o Streetwide Asset Recovery, which means the funder had placed its account with the agency. Fundrite is a merchant cash advance funder.
- Other bankruptcy mentions. The agency appears on creditor schedules or mailing lists in cases from 2014 to 2025 in Georgia, Massachusetts, New York, Florida, Pennsylvania and Minnesota, including corporate debtors such as Shannon Video, Inc., ATM Mirror, Inc. and Spring Fresh Flowers, Inc., which is what an agency holding placed commercial accounts looks like in the record.
- McEachern v. Streetwide Asset Recovery Group Inc. (D.N.J., 3:12-cv-02262, filed April 16, 2012, terminated February 8, 2013): a Fair Debt Collection Practices Act suit brought by a consumer against the agency; the docket shows it closed within ten months. We have not read the pleadings, so this page does not characterise the allegations or the outcome beyond the docket.
No regulatory action against the agency was located in the sources checked.
Why a business owner hears from Streetwide
Because a creditor has placed the account with it. For a brokerage debt that creditor is a broker-dealer; for a merchant cash advance it is the funder, as the Fundrite entry shows. The agency is the creditor's agent; the agreement, the debit history, the personal guaranty and any UCC filing belong to the creditor, and that paperwork decides what can be argued. The firm's stated strength is settling before arbitration or suit, which cuts both ways: it will push for a number quickly, and a documented counter-offer tends to get a hearing.
What to establish from your own paperwork
- Which creditor placed the account, and the balance it claims. Ask in writing, at 100 Village Court, Suite 201, Hazlet, NJ 07730, for the creditor's name, the agreement date, the amounts advanced and payable, every payment or debit credited and the balance claimed.
- Whether the agency owns the account or is servicing it. On a placement the funder remains the counterparty and any settlement needs its sign-off in writing.
- Whether the FDCPA applies. A merchant cash advance is a commercial transaction, so the federal Fair Debt Collection Practices Act generally does not apply to it. New Jersey and New York collection rules and the general prohibitions on harassment and misrepresentation still do, and the 2012 FDCPA docket shows the agency has been sued under that statute over a consumer account.
- The reconciliation clause. If revenue fell and the funder refused or ignored a reconciliation request, that is the centre of most MCA disputes. Pull the clause and the request history before you agree to anything.
- Any UCC filing, confession of judgment or personal guaranty. These decide what can be reached and how fast. See how MCA debt relief works.
If a lawsuit has been filed
The plaintiff will be the funder, not the agency, and the summons will name the funder. Answer before the deadline, usually 20 to 30 days from service; a default judgment ends the negotiation. See what to do if a funder represented through Streetwide sues.
Can the balance be settled?
Usually, if the underlying advance is real. An agency that advertises settling 90 percent of its cases before arbitration has every reason to close a file, and placed MCA balances settle within limits the funder sets; a documented revenue drop, bank statements and a realistic lump sum or schedule tend to be heard. See how a balance Streetwide is collecting can be settled.
Business Debt Adjusters reviews the agreement, the debit history and any filings, and tells you what is realistic before you commit to anything.
Frequently Asked Questions
Is Streetwide Asset Recovery a merchant cash advance company?
No. StreetWide Asset Recovery Group, Inc. is a Hazlet, New Jersey collection agency that describes itself as working solely in the financial services sector on securities-industry debt. Bankruptcy dockets also show it holding placed accounts for the MCA funder Fundrite. It does not fund advances or loans.
Is Streetwide Asset Recovery legitimate?
It is a New Jersey collection agency with a published address, phone and website, a president with a long brokerage-collections career, and appearances in federal dockets since at least 2012. The BBB has no profile for it. Legitimate does not mean the balance claimed is correct; ask for the creditor's name and an itemised account in writing.
Why is Streetwide Asset Recovery contacting my business?
A creditor, which for a business owner is most often a merchant cash advance funder, has placed an unpaid account with it. Find out which creditor, which agreement and what balance before responding by phone.
Does the Fair Debt Collection Practices Act apply to a business debt Streetwide is collecting?
Generally no, because merchant cash advances and other commercial debts fall outside the federal FDCPA. State collection rules and the general prohibitions on harassment and misrepresentation still apply, and a personal guaranty can bring the owner's own protections into play.
What should a business owner do after a call or letter from Streetwide Asset Recovery?
Identify the creditor and the agreement, request an itemised balance in writing, check the date of last payment and whether any suit exists, pull the reconciliation clause and the guaranty, and get the paperwork reviewed before agreeing to a number.
Sources
- StreetWide Asset Recovery Group website, About Us (securities-industry collection agency, client list, settlement rate)
- StreetWide Asset Recovery Group website, Background (Michael Colombo's career at PaineWebber, Gruntal, GKN)
- StreetWide Asset Recovery Group website, Contact (Hazlet NJ and Wall Street addresses)
- CourtListener docket search: Streetwide Asset Recovery in federal dockets 2012 to 2025 (Fundrite LLC c/o Streetwide in Witchey Enterprises, Bankr. M.D. Pa. 5:19-bk-00645; McEachern v. Streetwide Asset Recovery Group, D.N.J. 3:12-cv-02262)
- BBB search: no profile for Streetwide Asset Recovery (checked September 24, 2026)
Facts on this page were checked against the linked sources on September 24, 2026. Business Debt Adjusters is not affiliated with, endorsed by, or authorized to represent the company described.
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