SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
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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): June 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 5. Other Events
During the fiscal quarter ended June 30, 1999, Asta Funding, Inc.
("Asta") sold approximately $117 million of distressed MasterCard and Visa
credit card receivables to several purchasers. Asta received approximately $6.9
million from these sales. The sold receivables were part of the $1.36 billion of
credit card charge-offs that Asta purchased in March, 1999.
Asta Funding, Inc., located in Englewood Cliffs, New Jersey, is an
emerging industry leader in the distressed consumer receivables liquidation
business.
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: July 21, 1999