SECURITIES AND EXCHANGE COMMISSION

                              Washington, DC 20549


                                   ----------

                                    FORM 8-K

                                 CURRENT REPORT

                     PURSUANT TO SECTION 13 OR 15(d) OF THE
                         SECURITIES EXCHANGE ACT OF 1934

        Date of Report (Date of earliest event reported): March 30, 1999



                               ASTA FUNDING, INC. 
             (Exact name of registrant as specified in its charter)


                                    Delaware
                 (State or other jurisdiction of incorporation)

 
      0-26906                                          22-3388607               
(Commission File Number)                    (IRS Employer Identification No.)


              210 Sylvan Avenue, Englewood Cliffs, New Jersey 07632
               (Address of principal executive offices) (Zip Code)


        Registrant's telephone number, including area code: 201-567-5648


                                 Not Applicable
          (Former name of former address, if changed since last report)








Item 2.  Acquisition or Disposition of Assets.

         On March 30, 1999,  three wholly owned  subsidiaries  of Asta  Funding,
Inc. (the  "Registrant")  purchased  approximately  $1.35 billion of charged-off
credit card  receivables  from the following four banks:  First USA Bank,  Chevy
Chase Bank,  Bank One  Corporation and FCC National Bank. The purchase price for
the receivalbes was made available to the  Registrant's  subsidiaries  from four
lenders:  Greenwich Capital  Financial  Products,  Inc.,  Rosenthal & Rosenthal,
Inc.,  Sterling  Financial Services Company and Asta Group,  Incorporated.  Asta
Group, Incorporated is an affiliate of the Registrant.


Item 7. Financial Statements and Exhibits.

         Exhibit 99.1 Press Release dated March 31, 1999.


                                   SIGNATURES

         Pursuant to the  requirements  of the Securities  Exchange Act of 1934,
the  Registrant  has duly  caused  this report to be signed on its behalf by the
undersigned hereunto duly authorized.

                                          ASTA FUNDING, INC.


                                          /s/ Gary Stern            
                                          Gary Stern, President


Dated:  April 2, 1999






                                  EXHIBIT INDEX


Exhibit No. 99.1  Press Release dated March 31, 1999.