UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 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)
                                  June 27, 2003



                               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








Item 5. Other Events.

         On June 27, 2003, Asta Funding, Inc. announced the public offering of
2,500,000 shares of its common stock at a price of $20.75 per share. Of the
shares being sold in the offering, 2,100,000 shares of common stock are being
offered by Asta and 400,000 shares of common stock are being offered by the
selling stockholders. Asta issued the press release attached to this Current
Report on Form 8-K as Exhibit 99.1.



Item 7. Financial Statements and Exhibits.

         (c) Exhibits

         99.1  Press release dated June 27, 2003.






                                    SIGNATURE

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

                                    ASTA FUNDING, INC.

Date: June 27, 2003                 By: /s/ Mitchell Herman
     ---------------                    --------------------------------------
                                    Mitchell Herman
                                    Chief Financial Officer