Founded in Cincinnati, Ohio, in 1986, Unifund was one of the first companies to buy consumer receivables. David G. Rosenberg, Unifund's founder, chairman and chief executive officer is an industry pioneer who originally purchased returned checks. In 1989, Unifund began buying distressed loan portfolios on a national scale from small banks and retailers. One year later, the company began purchasing portfolios from large financial institutions. Today, the company is one of the largest buyers and resellers of consumer debt in the nation.

Unifund popularized the concept that long-delinquent distressed debt is regenerative. The company also was the first to introduce portfolios for resale by region, state or county.