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Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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MIC-Info: RSA-MD5,RSA,
 Mx6mePgExEloydCaEb7rSrRt8yYukElTC3gyaQdNzrnMa9KLte1XQZ+FZigczUS7
 w74FaGBOgaTZHHJLTdsXdQ==

<SEC-DOCUMENT>0001144204-09-064734.txt : 20091215
<SEC-HEADER>0001144204-09-064734.hdr.sgml : 20091215
<ACCEPTANCE-DATETIME>20091215180320
ACCESSION NUMBER:		0001144204-09-064734
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20091211
FILED AS OF DATE:		20091215
DATE AS OF CHANGE:		20091215

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			CELANO ED
		CENTRAL INDEX KEY:			0001187027

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-26906
		FILM NUMBER:		091242788

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			ASTA FUNDING INC
		CENTRAL INDEX KEY:			0001001258
		STANDARD INDUSTRIAL CLASSIFICATION:	SHORT-TERM BUSINESS CREDIT INSTITUTIONS [6153]
		IRS NUMBER:				223388607
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			0930

	BUSINESS ADDRESS:	
		STREET 1:		210 SYLVAN AVE
		CITY:			ENGLEWOOD CLIFFS
		STATE:			NJ
		ZIP:			07632
		BUSINESS PHONE:		2015675648

	MAIL ADDRESS:	
		STREET 1:		210 SYLVAN AVE
		CITY:			ENGLEWOOD CLIFFS
		STATE:			NJ
		ZIP:			07632
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>v169092_ex.xml
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0303</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2009-12-11</periodOfReport>

    <notSubjectToSection16>0</notSubjectToSection16>

    <issuer>
        <issuerCik>0001001258</issuerCik>
        <issuerName>ASTA FUNDING INC</issuerName>
        <issuerTradingSymbol>ASFI</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001187027</rptOwnerCik>
            <rptOwnerName>CELANO ED</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>C/O ASTA FUNDING, INC.</rptOwnerStreet1>
            <rptOwnerStreet2>210 SYLVAN AVENUE</rptOwnerStreet2>
            <rptOwnerCity>ENGLEWOOD CLIFFS,</rptOwnerCity>
            <rptOwnerState>NJ</rptOwnerState>
            <rptOwnerZipCode>07632</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>1</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
        </reportingOwnerRelationship>
    </reportingOwner>

    <derivativeTable>
        <derivativeTransaction>
            <securityTitle>
                <value>Stock Option (right to buy)</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>8.07</value>
            </conversionOrExercisePrice>
            <transactionDate>
                <value>2009-12-11</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>A</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>25000</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>0</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <exerciseDate>
                <footnoteId id="F1"/>
            </exerciseDate>
            <expirationDate>
                <value>2019-12-11</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>25000</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>25000</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeTransaction>
    </derivativeTable>

    <footnotes>
        <footnote id="F1">These stock options have the following vesting schedule: 8,333 stock options vest on December 11, 2009, 8,333 stock options
 vest on December 11, 2010 and 8,334 stock options vest on December 11, 2011.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>/s/ Robert J. Michel, Attorney-in-Fact</signatureName>
        <signatureDate>2009-12-15</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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