Exhibit 31.2

        SECTION 302 CERTIFICATION PURSUANT TO SARBANES-OXLEY ACT OF 2002

I, James J. Mastriani, Chief Financial Officer of Velocity Asset Management,
Inc., do hereby certify that:

1.   I have reviewed this quarterly report on Form 10-QSB of Velocity Asset
     Management, Inc;

2.   Based on my knowledge, this report does not contain any untrue statement of
     a material fact or omit to state a material fact necessary to make the
     statements made, in light of the circumstances under which such statements
     were made, not misleading with respect to the period covered by this
     report;

3.   Based on my knowledge, the financial statements, and other financial
     information included in this report, fairly present in all material
     respects the financial condition, results of operations and cash flows of
     the Company as of, and for, the period presented in this report;

4.   The Small Business Issuer's other certifying officer and I are responsible
     for establishing and maintaining disclosure controls and procedures (as
     defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control
     over financial reporting (as defined in Exchange Act Rules13a-15(f) and
     15d-15(f)) for the Small Business Issuer and have:

     (a) Designed such disclosure controls and procedure, or caused such
         disclosure controls and procedures to be designed under our
         supervision, to ensure that material information relating to the Small
         Business Issuer, including its consolidated subsidiaries, is made known
         to us by others within those entities, particularly during the period
         in which this report is being prepared;

     (b) Designed such internal control over financial reporting, or caused such
         internal control over financial reporting to be designed under our
         supervision, to provide reasonable assurance regarding the reliability
         of financial reporting and the preparation of financial statements for
         external purposes in accordance with generally accepted accounting
         principles;

     (c) Evaluated the effectiveness of the Small Business Issuer's disclosure
         controls and procedures and presented in this report our conclusions
         about the effectiveness of the disclosure controls and procedures, as
         of the end of the period covered by this report based on such
         evaluation; and

     (d) Disclosed in this report any changes in the Small Business Issuer's
         internal control over financial reporting that occurred during the
         Small Business Issuer's most recent fiscal quarter that has materially
         affected, or is reasonably likely to materially affect, the Company's
         internal control over financial reporting; and

5.   The Small Business Issuer's other certifying officer and I have disclosed,
     based on our most recent evaluation or internal control over financial
     reporting, to the Small Business Issuer's auditors and the audit committee
     of the Small Business Issuer's board of directors (or persons performing
     the equivalent functions):

     (a) all significant deficiencies and material weaknesses in the design or
         operation of internal controls over financial reporting which hare
         reasonably likely to adversely affect the Company's ability to record,
         process, summarize and report financial information; and

     (b) any fraud, whether or not material, that involves management or other
         employees who have a significant role in the Small Business Issuer's
         internal control over financial reporting.

                                       /s/ JAMES J. MASTRIANI
                                       -----------------------------------------
                                       James J. Mastriani
                                       Chief Financial Officer

August 9, 2007

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