Ownership Submission
FORM 4
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
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(Print or Type Responses)
1. Name and Address of Reporting Person *
JCF FPK I LP
   2. Issuer Name and Ticker or Trading Symbol
ENCORE CAPITAL GROUP INC [ECPG] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director __X__ 10% Owner
_____ Officer (give title below) _____ Other (specify below)
(Last)
(First)
(Middle)
717 FIFTH AVENUE, 26TH FLOOR		 3. Date of Earliest Transaction (Month/Day/Year)
01/02/2008
(Street)

NEW YORK, NY 10022		 4. If Amendment, Date Original Filed(Month/Day/Year)
 6. Individual or Joint/Group Filing(Check Applicable Line)
___ Form filed by One Reporting Person
_X_ Form filed by More than One Reporting Person
(City)
(State)
(Zip)
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)		 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code
(Instr. 8)		 4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)		 5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4)		 6. Ownership Form: Direct (D) or Indirect (I)
(Instr. 4)		 7. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V Amount (A) or (D) Price
Common Stock               5,737,032 (1) D (2) (3)  
Common Stock 01/02/2008   A   5,931 A $ 0 5,742,963 (1) D (2) (3) (4)  

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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 3)		 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code
(Instr. 8)		 5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4, and 5)		 6. Date Exercisable and Expiration Date
(Month/Day/Year)		 7. Title and Amount of Underlying Securities
(Instr. 3 and 4)		 8. Price of Derivative Security
(Instr. 5)		 9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 4)		 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)		 11. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares

Reporting Owners

Reporting Owner Name / Address Relationships
 Director  10% Owner  Officer  Other
JCF FPK I LP
717 FIFTH AVENUE
26TH FLOOR
NEW YORK, NY 10022		     X    
JCF Associates II-A LP
717 FIFTH AVENUE
26TH FLOOR
NEW YORK, NY 10022		     X    
JCF Associates II-A LLC
717 FIFTH AVENUE
26TH FLOOR
NEW YORK, NY 10022		     X    

Signatures

 JCF FPK I LP /s/ Sally Rocker Title: Managing Director   01/04/2008
**Signature of Reporting Person Date
 JCF Associates II-A LP /s/ Sally Rocker Title: Managing Director   01/04/2008
**Signature of Reporting Person Date
 JCF Associates II-A LLC /s/ Sally Rocker Title: Managing Director   01/04/2008
**Signature of Reporting Person Date
 J. Christopher Flowers /s/ J. Christopher Flowers   01/04/2008
**Signature of Reporting Person Date

Explanation of Responses:

* If the form is filed by more than one reporting person, see Instruction 4(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1) JCF FPK I LP, an Alberta limited partnership, JCF Associates II-A LP, a Delaware limited partnership, JCF Associates II-A LLC, a Delaware limited liability company and J. Christopher Flowers may be deemed to be part of a group with Red Mountain Capital Partners LLC, Red Mountain Capital Partners II, L.P., Red Mountain Capital Partners III, L.P., RMCP GP LLC, Red Mountain Capital Management Inc. and Willem Mesdag (collectively, "Red Mountain") and, accordingly, may be deemed, for the purposes of Section 13(d) of the Securities Exchange Act of 1934, as amended and the rules promulgated thereunder (the "Exchange Act") to beneficially own the 3,435,062 shares of Common Stock of Encore Capital Group, Inc. ("Encore") beneficially owned by Red Mountain. The reporting persons do not have any pecuniary interest in such securities and disclaim beneficial ownership of such securities for purposes of Section 16 of the Exchange Act, or for any other purposes.
(2) These shares are held directly by JCF FPK I LP. J. Christopher Flowers holds an indirect interest in the reported securities through a pecuniary interest in JCF Associates II-A LLC, a Delaware limited liability company. JCF Associates II-A LLC holds an indirect interest in the reported securities through a pecuniary interest in JCF Associates II-A LP, a Delaware limited partnership. JCF Associates II-A LP holds an indirect interest in the reported securities through a pecuniary interest in JCF FPK I LP, a Delaware limited partnership. Mr. Flowers is the sole managing member of JCF Associates II-A LLC, which is the general partner of JCF Associates II-A LP, which is the general partner of JCF FPK I LP. Mr. Flowers therefore controls JCF Associates II-A LLC, which controls JCF Associates II-A LP, which controls JCF FPK I LP. (con't)
(3) (con't) Mr. Flowers, JCF Associates II-A LLC and JCF Associates II-A LP disclaim beneficial ownership of the reported securities except to the extent of any pecuniary interest therein, and the inclusion of these securities in this report shall not be deemed to be an admission that Mr. Flowers, JCF Associates II-A LLC and JCF Associates II-A LP have beneficial ownership of such securities for purposes of Section 16 of the Exchange Act, or for any other purposes.
(4) On January 2, 2008, Encore issued 5,931 restricted stock units ("RSUs") to JCF FPK I LP under the Encore 2005 Stock Incentive Plan in connection with the service of Tim Hanford and John Oros as members of Encore's board of directors. Each RSU represents the right to receive one share of Encore common stock. These 5,931 RSUs are not subject to vesting.

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