[Asta Funding, Inc. LOGO]                                           Exhibit 99.3



                                          FOR IMMEDIATE RELEASE
                                          CONTACT:
Mitchell Cohen, CFO                       Stephen D. Axelrod, CFA
ASTA FUNDING, INC.                        WOLFE AXELROD WEINBERGER ASSOC. LLC
(201) 567-5648                            (212) 370-4500; (212) 370-4505 (Fax)
                                          steve@wolfeaxelrod.com


     ASTA FUNDING ANNOUNCES BANK COMMITMENT TO INCREASE ITS CREDIT FACILITY
                       AS PORTFOLIO ACQUISITIONS INCREASE

ENGLEWOOD CLIFFS, NJ, DECEMBER 13, 2005 -- ASTA FUNDING, INC., (NASDAQ: ASFI), a
leading consumer receivables asset management and liquidation company, today
announced that it has received the necessary commitment to increase its credit
facility due to the recent rise in portfolio purchase opportunities. Asta has
already participated in these opportunities, but expects to make additional
purchases. The credit facility, which is underwritten by a consortium of banks,
will increase to $100 million, up from $80 million, with an accordion feature to
go to $125 million.

Gary Stern, Chief Executive Officer, said, "since the recent change in the
bankruptcy law, which took effect on October 17, 2005, coupled with banks
increasing minimum payments on credit cards, we have seen a significant amount
of charge-offs in the market. We have already closed on a few large portfolios
and have several more in the pipeline that we anticipate buying. As we believe
this trend should continue and we want to be ready to act on future portfolios
that meet Asta's strict purchasing criteria, we have given ourselves the
flexibility to meet these opportunities. We are thankful to our lenders for
their continued support and flexibility which has enabled Asta to grow over the
last few years."

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Based in Englewood Cliffs, NJ, ASTA FUNDING, INC., is a leading consumer
receivable asset management company that specializes in the purchase, management
and liquidation of performing and non-performing consumer receivables. For
additional information, please visit our website at http://www.astafunding.com.

             Except for historical information contained herein, the matters set
forth in this news release are "forward-looking" statements (as defined in the
Private Securities Litigation Reform Act of 1995.) Although Asta Funding, Inc.
believes the expectations reflected in such forward-looking statements are based
upon reasonable assumptions, there can be no assurance that its expectations
will be realized. Forward-looking statements involve certain risks and
uncertainties that could cause actual results to differ materially from Asta
Funding, Inc.'s expectations. Factors that could contribute to such differences
include those identified in Asta Funding, Inc.'s Form 10-K for the fiscal year
ended September 30, 2004, and those described from time to time in Asta Funding,
Inc.'s other filings with the Securities and Exchange Commission, news releases
and other communications, including that Asta may not be able to purchase
consumer receivable portfolios at favorable prices or on sufficiently favorable
terms or at all. Asta Funding, Inc.'s reports with the Securities and Exchange
Commission are available free of charge through its website at
http://www.astafunding.com.