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 * Grinberg Paul   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 _____ 10% Owner __X__ Officer (give title below) _____ Other (specify below) Executive VP, CFO & Treasurer (Last) (First) (Middle) 8875 AERO DRIVE, SUITE 200 3. Date of Earliest Transaction (Month/Day/Year) 08/23/2007 (Street) SAN DIEGO, CA 92123 4. If Amendment, Date Original Filed(Month/Day/Year) 6. Individual or Joint/Group Filing(Check Applicable Line) _X_ Form filed by One Reporting Person ___ 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 08/23/2007   A   10,000 (1) A $ 0 23,500 D   Common Stock 08/23/2007   A V 10,000 (2) A $ 0 33,500 D

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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

Employee Stock Option (right to buy)

$ 10.92

08/23/2007

A

20,000

(3)

08/23/2017

Common Stock

20,000

$ 0

20,000

D

Employee Stock Option (right to buy)

$ 18.63

08/23/2007

D

250,000 (4)

(5)

09/20/2014

Common Stock

250,000

$ 0

0

D

Reporting Owners

Reporting Owner Name / Address	Relationships
	Director	10% Owner	Officer	Other
Grinberg Paul 8875 AERO DRIVE, SUITE 200 SAN DIEGO, CA 92123			Executive VP, CFO & Treasurer

Signatures

/s/ Robin R. Pruitt, Attorney-in-Fact for Paul Grinberg		08/27/2007
**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)	Grant to the reporting person on August 23, 2007 of deferred issuance restricted stock units ("RSUs") under the Encore Capital Group, Inc. 2005 Stock Incentive Plan (the "Plan"). Each RSU represents the right to receive one share of Encore's common stock. The RSUs are subject to vesting. 100% of the shares will vest on the third anniversary of the date of grant; provided that if the reporting person's employment is terminated without cause prior to the vesting date, 10% will vest if such termination occurs prior to the first anniversary of the date of grant, 20% will vest if such termination occurs on or after the first anniversary of the date of grant but prior to the second anniversary, and 30% will vest if such termination occurs on or after the second anniversary of the date of grant but prior to the third anniversary.
(2)	Grant to the reporting person on August 23, 2007 of performance shares under the Plan. The performance shares are subject to vesting and will vest upon the achievement by Encore of certain financial goals.
(3)	The option was granted under the Plan and vests in three equal annual installments on the anniversary of the date of grant, commencing on August 23, 2008.
(4)	Voluntary cancellation for no value of an option to purchase 250,000 shares of common stock granted to the reporting person under the Plan on September 20, 2004.
(5)	The option vests in five equal annual installments on the anniversary of the date of grant, commencing on September 20, 2005.

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