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<TITLE>Prepared and filed by St Ives Financial</TITLE>

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<p style=' margin-bottom:0pt; margin-top:12pt;text-align:center;'><b><font SIZE=4>UNITED STATES</font></b></p>
<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><b><font SIZE=4>SECURITIES AND EXCHANGE COMMISSION</font></b></p>
<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><b><font SIZE=2>WASHINGTON, DC 20549</font></b></p>
<p style=' margin-bottom:0pt; margin-top:12pt;text-align:center;'><b><font SIZE=4>FORM 8-K</font></b></p>
<p style=' margin-bottom:5pt; margin-top:5pt;text-align:center;'><b><font SIZE=2>CURRENT REPORT </font></b></p>
<p style=' margin-bottom:0pt; margin-top:5pt;text-align:center;'><b><font SIZE=2>PURSUANT TO SECTION 13 OR 15(D) OF THE</font></b></p>
<p style=' margin-bottom:5pt; margin-top:0pt;text-align:center;'><b><font SIZE=2>SECURITIES EXCHANGE ACT OF 1934</font></b></p>
<p style=' margin-bottom:0pt; margin-top:8pt;text-align:left;'><font size=2>Date of report (Date of earliest event reported): July 13, 2006</font></p>
<p style=' margin-bottom:0pt; margin-top:8pt;text-align:center;'><b><font size=5>NCO Group, Inc.</font></b></p>
<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>(Exact Name of Registrant as Specified in Its Charter)</font></p>
<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>&nbsp;</font></p>
<table width="100%" cellspacing=0 cellpadding=0><tr><td width="50">&nbsp;</td>
    <td align=center valign=top width="280"><font size=2><b>Pennsylvania</b></font><br>
      <font size=2>(State or other jurisdiction of incorporation)</font><br>
    </td>
    <td align=center valign=top width="280"><font size=2><b>0-21639</b></font><br>
      <font size=2>(Commission File Number)</font><br>
    </td>
    <td align=center valign=top width="280"><font size=2><b>23-2858652</b></font><br>
      <font size=2>(IRS Employer Identification No.)</font><br>
<br></td><td width="50">&nbsp;</td></tr></table>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=1>&nbsp;</font></p>
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  <tr>
    <td width="30">&nbsp;</td>
    <td align=center valign=top width="300" nowrap><font size=2><b>507 Prudential
      Road, Horsham, Pennsylvania</b></font><br>
<font size=2>(Address of principal executive offices)</font><br></td>
    <td align=center width="260">&nbsp;</td>
    <td align=center valign=bottom width="290"><font size=2><b>19044</b></font><br>
<font size=2>(Zip Code)</font></td><td width="50">&nbsp;</td></tr></table>
<p style=' margin-bottom:0pt; margin-top:12pt;text-align:center;'><font size=2>Registrant&#146;s telephone number, including area code (215) 441-3000</font></p>
<p style=' margin-bottom:0pt; margin-top:12pt;text-align:center;'><font size=2><b>Not
  Applicable</b></font></p>
<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>(Former name or former address, if changed since last report)</font></p>
<p style=' margin-bottom:0pt; margin-top:8pt; text-indent:0.36in;text-align:left;'><font size=2>Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (</font><i><font size=2>see </font></i><font size=2>General Instruction A.2. below):</font></p>
<p style=' margin-bottom:0pt; margin-top:8pt;text-align:left;'><img src="emptybox.gif" width="12" height="12"><font size=2>
  &nbsp;&nbsp;Written communications pursuant to Rule 425 under the Securities
  Act (17 CFR 230.425)</font></p>
<p style=' margin-bottom:0pt; margin-top:8pt;text-align:left;'><img src="emptybox.gif" width="12" height="12">
  <font size=2> &nbsp;&nbsp;Soliciting material pursuant to Rule 14a-12 under
  the Exchange Act (17 CFR 240.14a-12)</font></p>
<p style=' margin-bottom:0pt; margin-top:8pt;text-align:left;'><img src="emptybox.gif" width="12" height="12"><font size=2>
  &nbsp;&nbsp;Pre-commencement communications pursuant to Rule 14d-2(b) under
  the Exchange Act (17 CFR 240.14d-2(b))</font></p>
<p style=' margin-bottom:0pt; margin-top:8pt;text-align:left;'><img src="emptybox.gif" width="12" height="12"><font size=2>
  &nbsp;&nbsp;Pre-commencement communications pursuant to Rule 13e-4(c) under
  the Exchange Act (17 CFR 240.13e-4(c))</font></p>

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<p align="center"><Font size="2" face="serif">1</font></p>
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<p style=' margin-bottom:0pt; margin-top:12pt;text-align:left;'><b><font size=2>Item 1.01 Entry into a Material Definitive Agreement</font></b></p>
<p style=' margin-bottom:0pt; margin-top:8pt;text-align:left;'><font size=2>On
    July 13, 2006, NCO Group, Inc. (&#147;NCO&#148;), Citizens Bank of Pennsylvania,
    as administrative agent, and certain lenders under NCO&#146;s credit agreement
    entered into Amendment No. 2 and Consent to the Seventh Amended and Restated
    Credit Agreement dated as of June 21, 2005 (the &#147;Amendment&#148;). Pursuant
    to the Amendment, the lenders consented to NCO entering into a merger agreement
    with One Equity Partners II, L.P., its affiliates and/or Michael J. Barrist
    which would result in NCO&#146;s existing shareholders (excluding certain
    shareholders described in the merger agreement) to receive merger consideration
    in the form of cash. In addition, such Amendment provides that upon consummation
    of the
    proposed
    merger, the
    debt under the Seventh Amended and Restated Credit Agreement referred to
    above will be repaid in full. A copy of the Amendment is attached hereto
    as Exhibit 10.1 and is incorporated herein by reference.</font></p>
<p style=' margin-bottom:0pt; margin-top:12pt;text-align:left;'><b><font size=2>Item 9.01  Financial Statements and Exhibits</font></b></p>
<p style=' margin-bottom:0pt; margin-top:8pt;text-align:left;'><font size=2>(c) Exhibits</font></p>
<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>


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    <td valign=bottom >
      <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><b><font size=1>No.</font></b><b></b></p>
    </td>
    <td valign=bottom >&nbsp;</td>
    <td valign=bottom >
      <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt;'><b><font size=1>Description</font></b><b></b></p>
    </td>
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    </td>
    <td valign=top style=' height:.05in;'>&nbsp;</td>
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    </td>
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    <td width="6%" valign=top >
      <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:0pt;'><font size=2>10.1</font></p>
    </td>
    <td valign=top width="2%" >&nbsp;</td>
    <td valign=top >
      <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:2.0pt;margin-bottom:0pt;'><font size=2>Amendment
        No. 2 and Consent to Seventh Amended and Restated Credit Agreement dated
        as of June 21, 2005 by and among NCO Group, Inc., as Borrower, Citizens
        Bank of Pennsylvania, as Administrative Agent and the Financial Institutions
        identified therein as Lenders.</font></p>
    </td>
  </tr>
</table>


<p align="center"><Font size="2" face="serif">2</font></p>
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<p style=' margin-bottom:0pt; margin-top:16pt;text-align:center;'><b><font SIZE=2>SIGNATURES</font></b></p>
<p style=' margin-bottom:0pt; margin-top:8pt; text-indent:0.36in;text-align:left;'><font size=2>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.</font></p>
<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
        <td width="7%" valign=bottom >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
        <td colspan="2" valign=bottom >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><b><font SIZE=2>NCO GROUP, INC.</font></b></p> </td> </tr> <tr>
        <td colspan="2" valign=bottom >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><br> <font size=2>Date: August 8, 2006</font></p> </td>
        <td width="7%" valign=bottom >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
        <td width="6%" valign=bottom >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font size=2>By:&nbsp;</font></p> </td>
        <td width="39%" valign=bottom >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><br> <font size=2>/s/ John R. Schwab</font></p> </td> </tr> <tr>
        <td colspan="2" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
        <td width="7%" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
        <td width="6%" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
        <td width="39%" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt;'><hr noshade width="100%" color="Gray" size="1"> </td> </tr> <tr>
        <td width="7%" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
        <td width="38%" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
        <td width="7%" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
        <td width="6%" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font size=2>Name:&nbsp;</font></p> </td>
        <td width="39%" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font size=2>John R. Schwab</font></p> </td> </tr> <tr>
        <td width="7%" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
        <td width="38%" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
        <td width="7%" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
        <td width="6%" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font size=2>Title:&nbsp;</font></p> </td>
        <td width="39%" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font size=2>Executive Vice President, Finance and Chief Financial Officer</font></p> </td> </tr></table>
</div>
<br>



<p align="center"><Font size="2" face="serif">3</font></p>
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<p style=' margin-bottom:0pt; margin-top:16pt;text-align:center;'><b><font SIZE=2>EXHIBIT INDEX</font></b></p>
<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>


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  <tr>
    <td valign=bottom >
      <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><b><font size=1>No.</font></b><b></b></p>
    </td>
    <td valign=bottom >&nbsp;</td>
    <td valign=bottom >
      <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt;'><b><font size=1>Description</font></b><b></b></p>
    </td>
  </tr>
  <tr style='height:.05in;'>
    <td valign=top style=' height:.05in;'>
      <hr noshade align="center" width="100%" size="1">
    </td>
    <td valign=top style=' height:.05in;'>&nbsp;</td>
    <td valign=top style=' height:.05in;'>
      <hr noshade align="center" width="100%" size="1">
    </td>
  </tr>
  <tr>
    <td width="6%" valign=top >
      <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:0pt;'><font size=2>10.1</font></p>
    </td>
    <td valign=top width="2%" >&nbsp;</td>
    <td valign=top >
      <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt;'><font size=2>Amendment
        No. 2 and Consent to Seventh Amended and Restated Credit Agreement dated
        as of June 21, 2005 by and among NCO Group, Inc., as Borrower, Citizens
        Bank of Pennsylvania, as Administrative Agent and the Financial Institutions
        identified therein as Lenders.</font></p>
    </td>
  </tr>
</table>




<p align="center"><Font size="2" face="serif">4</font></p>
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{"company-data": {"conformed-name": "NCO GROUP INC", "cik": "0001022608", "assigned-sic": "7320", "irs-number": "232858652", "state-of-incorporation": "PA", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "000-21639", "film-number": "061014089"}, "business-address": {"street1": "507 PRUDENTIAL ROAD", "city": "HORSHAM", "state": "PA", "zip": "19044", "phone": "215-441-3000"}, "mail-address": {"street1": "507 PRUDENTIAL ROAD", "city": "HORSHAM", "state": "PA", "zip": "19044"}}
Prepared and filed by St Ives Financial
UNITED STATES
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): July 13, 2006
NCO Group, Inc.
(Exact Name of Registrant as Specified in Its Charter)
Pennsylvania
(State or other jurisdiction of incorporation)
0-21639
(Commission File Number)
23-2858652
(IRS Employer Identification No.)
507 Prudential
      Road, Horsham, Pennsylvania
(Address of principal executive offices)
19044
(Zip Code)
Registrant's telephone number, including area code (215) 441-3000
Not
  Applicable
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (
see
General Instruction A.2. below):
Written communications pursuant to Rule 425 under the Securities
  Act (17 CFR 230.425)
Soliciting material pursuant to Rule 14a-12 under
  the Exchange Act (17 CFR 240.14a-12)
Pre-commencement communications pursuant to Rule 14d-2(b) under
  the Exchange Act (17 CFR 240.14d-2(b))
Pre-commencement communications pursuant to Rule 13e-4(c) under
  the Exchange Act (17 CFR 240.13e-4(c))
1
Item 1.01 Entry into a Material Definitive Agreement
On
    July 13, 2006, NCO Group, Inc. ("NCO"), Citizens Bank of Pennsylvania,
    as administrative agent, and certain lenders under NCO's credit agreement
    entered into Amendment No. 2 and Consent to the Seventh Amended and Restated
    Credit Agreement dated as of June 21, 2005 (the "Amendment"). Pursuant
    to the Amendment, the lenders consented to NCO entering into a merger agreement
    with One Equity Partners II, L.P., its affiliates and/or Michael J. Barrist
    which would result in NCO's existing shareholders (excluding certain
    shareholders described in the merger agreement) to receive merger consideration
    in the form of cash. In addition, such Amendment provides that upon consummation
    of the
    proposed
    merger, the
    debt under the Seventh Amended and Restated Credit Agreement referred to
    above will be repaid in full. A copy of the Amendment is attached hereto
    as Exhibit 10.1 and is incorporated herein by reference.
Item 9.01  Financial Statements and Exhibits
(c) Exhibits
No.
Description
10.1
Amendment
        No. 2 and Consent to Seventh Amended and Restated Credit Agreement dated
        as of June 21, 2005 by and among NCO Group, Inc., as Borrower, Citizens
        Bank of Pennsylvania, as Administrative Agent and the Financial Institutions
        identified therein as Lenders.
2
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.
NCO GROUP, INC.
Date: August 8, 2006
By:
/s/ John R. Schwab
Name:
John R. Schwab
Title:
Executive Vice President, Finance and Chief Financial Officer
3
EXHIBIT INDEX
No.
Description
10.1
Amendment
        No. 2 and Consent to Seventh Amended and Restated Credit Agreement dated
        as of June 21, 2005 by and among NCO Group, Inc., as Borrower, Citizens
        Bank of Pennsylvania, as Administrative Agent and the Financial Institutions
        identified therein as Lenders.
4