<PAGE>

                                  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)
                                FEBRUARY 10, 2006



                               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

Check the appropriate box below if the Form 8-K is intended to simultaneously
satisfy the filing obligation of the registrant under any of the following
provisions (see General Instruction A.2 below): N/A

|_| Written communications pursuant to Rule 425 under the Securities Act
|_| Soliciting material pursuant to Rule 14a-12 under the Exchange Act
|_| Pre-commencement communications pursuant to Rule 14d-2(b) under the
    Exchange Act
|_| Pre-commencement communications pursuant to Rule 13e-4(c) under the
    Exchange Act

<PAGE>

ITEM 2.02.  RESULTS OF OPERATIONS AND FINANCIAL CONDITION.

On February 9, 2006, Asta Funding, Inc. (the "Company") issued a press release
regarding results for the three months ended December 31, 2005. A copy of this
press release is being furnished as Exhibit 99.1 to this Current Report on Form
8-K. A webcast discussing those results was held later that day. A copy of the
transcript of that webcast is being furnished as Exhibit 99.2 to this Current
Report on Form 8-K.

In accordance with General Instruction B.2 of Form 8-K, the information in this
Current Report on Form 8-K, including Exhibits 99.1 and 9.2 shall not be deemed
"filed" for the purposes of Section 18 of the Securities Exchange Act of 1934,
as amended, or otherwise subject to the liability of that section, nor shall it
be deemed incorporated by reference in any filing under the Securities Act of
1933, as amended, except as shall be expressly set forth by specific reference
in such a filing.

Item 9.01  Financial Statements and Exhibits.

           (c) Exhibits

          99.1  Press release dated February 9, 2006.
          99.2  Transcript of February 9, 2006 webcast.

<PAGE>

                             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: February 10, 2006                      By: /s/ Mitchell Cohen
                                             -----------------------
                                             Mitchell Cohen
                                             Chief Financial Officer
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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)
                                FEBRUARY 10, 2006

                               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

Check the appropriate box below if the Form 8-K is intended to simultaneously
satisfy the filing obligation of the registrant under any of the following
provisions (see General Instruction A.2 below): N/A

|_| Written communications pursuant to Rule 425 under the Securities Act
|_| Soliciting material pursuant to Rule 14a-12 under the Exchange Act
|_| Pre-commencement communications pursuant to Rule 14d-2(b) under the
    Exchange Act
|_| Pre-commencement communications pursuant to Rule 13e-4(c) under the
    Exchange Act
ITEM 2.02.  RESULTS OF OPERATIONS AND FINANCIAL CONDITION.

On February 9, 2006, Asta Funding, Inc. (the "Company") issued a press release
regarding results for the three months ended December 31, 2005. A copy of this
press release is being furnished as Exhibit 99.1 to this Current Report on Form
8-K. A webcast discussing those results was held later that day. A copy of the
transcript of that webcast is being furnished as Exhibit 99.2 to this Current
Report on Form 8-K.

In accordance with General Instruction B.2 of Form 8-K, the information in this
Current Report on Form 8-K, including Exhibits 99.1 and 9.2 shall not be deemed
"filed" for the purposes of Section 18 of the Securities Exchange Act of 1934,
as amended, or otherwise subject to the liability of that section, nor shall it
be deemed incorporated by reference in any filing under the Securities Act of
1933, as amended, except as shall be expressly set forth by specific reference
in such a filing.

Item 9.01  Financial Statements and Exhibits.

           (c) Exhibits

          99.1  Press release dated February 9, 2006.
          99.2  Transcript of February 9, 2006 webcast.
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: February 10, 2006                      By: /s/ Mitchell Cohen
                                             -----------------------
                                             Mitchell Cohen
                                             Chief Financial Officer