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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
 Washington, D. C. 20549
 Form 10-K/A
 Amendment No. 1
 þ
    
    ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
EXCHANGE ACT OF 1934
 For the fiscal year ended September 30, 2007
 OR
 o
    
    TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
 For the transition period from      to
 Commission file number: 0-26906
 ASTA FUNDING, INC.
 (Exact Name of Registrant Specified in its Charter)
 Delaware
    
    22-3388607(State or other jurisdiction of
    
    (I.R.S. Employerincorporation or organization)
    
    Identification No).210 Sylvan Avenue, Englewood
    
    07632Cliffs, NJ
    
    (Zip Code)(Address of principal executive offices)
 (201) 567-5648
 None
  Common Stock, par value $.01 per share
 (Title of Class)
  o þ
  o þ
 þ o
 o
  o þ o o
  o þ




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FORM 10-K/A
 TABLE OF CONTENTS
 PART IIItem 9A. Controls and ProceduresPART IVItem 15. Exhibits and Financial Statement SchedulesSignaturesCertificationsEX-31.1: CERTIFICATIONEX-31.2: CERTIFICATIONEX-32.1: CERTIFICATIONEX-32.2: CERTIFICATIONEX-31.1: CERTIFICATIONEX-31.2: CERTIFICATIONEX-32.1: CERTIFICATIONEX-32.2: CERTIFICATION
  Explanatory Note
  Caution Regarding Forward Looking Statements
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Item 9A. Controls and Procedures.
 Disclosure Controls and Procedures
   Managements Annual Report on Internal Control Over Financial Reporting
 Internal Control  Integrated Framework
  (i)
    
    pertain to the maintenance of records that, in reasonable detail, accurately and
fairly reflect the transactions and dispositions of the assets of the Company;(ii)
    
    provide reasonable assurance that transactions are recorded as necessary to
permit preparation of financial statements in accordance with accounting principles
generally accepted in the U.S., and that receipts and expenditures of the Company are
being made only in accordance with authorization of management and directors of the
Company; and(iii)
    
    provide reasonable assurance regarding prevention or timely detection of
unauthorized acquisition, use or disposition of the Companys assets that could have a
material effect on the consolidated financial statements.
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Changes in Internal Controls over Financial Reporting
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Part IV
 
 Item 15. Exhibits, Financial Statement Schedules.
    2. Exhibits
 ExhibitNumber31.1
    
    Certification of Registrants Chief Executive
Officer, Gary Stern, pursuant to Section 302 of the
Sarbanes-Oxley Act of 2002.31.2
    
    Certification of Registrants Chief Financial
Officer, Mitchell Cohen, pursuant to Section 302 of
the Sarbanes-Oxley Act of 2002.32.1
    
    Certification of the Registrants Chief Executive Officer,
Gary Stern, pursuant to Section 906 of the Sarbanes-Oxley Act
of 2002.32.2
    
    Certification of the Registrants Chief Financial Officer,
Mitchell Cohen, pursuant to Section 906 of the Sarbanes-Oxley
Act of 2002.
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SIGNATURES
  ASTA FUNDING, INC.By:
    /s/ Gary SternGary SternPresident and Chief Executive Officer
(Principal Executive Officer)
Dated: February 11, 2008  Signature
    
    Title
    
    Date/s/  Gary Stern

Gary Stern
    
    President, Chief
Executive Officer and
Director
    
    February 11, 2008/s/  Mitchell Cohen

Mitchell Cohen
    
    Chief Financial Officer
Principal Financial and Accounting
Officer
    
    February 11, 2008/s/  Arthur Stern

Arthur Stern
    
    Chairman of the Board and Executive
Vice President
    
    February 11, 2008/s/  Herman Badillo

Herman Badillo
    
    Director
    
    February 11, 2008/s/  Edward Celano

Edward Celano
    
    Director
    
    February 11, 2008/s/  Harvey Leibowitz

Harvey Leibowitz
    
    Director
    
    February 11, 2008/s/  David Slackman

David Slackman
    
    Director
    
    February 11, 2008/s/  Alan Rivera

Alan Rivera
    
    Director
    
    February 11, 2008/s/  Louis A. Piccolo

Louis A. Piccolo
    
    Director
    
    February 11, 2008
 6