ITEM 5.02. DEPARTURE OF DIRECTORS OR PRINCIPAL OFFICERS; ELECTION OF DIRECTORS; APPOINTMENT OF PRINCIPAL OFFICERS.

On December 17, 2008, Asta Funding, Inc. (the "Company") issued a press release, a copy which is attached hereto as Exhibit No. 99.1 and incorporated by reference herein, that the Company has accepted the resignation of Alan Rivera as Director of the Company.

ITEM 7.01. REGULATION FD DISCLOSURE

The Company is hereby furnishing the following information under Regulation FD:

On December 17, 2008, the Company issued a press release, a copy of which is attached hereto as Exhibit No. 99.1 and incorporated by reference herein, announcing that its Board of Directors has declared a quarterly cash dividend of $0.02 per share, down from $0.04 per share in prior quarters. The record date is December 29, 2008 and the payable date will be February 1, 2009.

ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS

(d) Exhibit:

99.1 Press release issued on December 17, 2008

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