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) 03/11/2011 (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 03/11/2011   S   230,311 D $ 25.35 (1) 3,971,315 D (2) (3)

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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
JCF Associates II L.P. 717 FIFTH AVENUE 26TH FLOOR NEW YORK, NY 10022		X
JCF Associates II Ltd. 717 FIFTH AVENUE 26TH FLOOR NEW YORK, NY 10022		X
Flowers J. Christopher 717 FIFTH AVENUE 26TH FLOOR NEW YORK, NY 10022		X

Signatures

JCF FPK I L.P. /s/ J. Christopher Flowers Title: Managing Member of JCF Associates II-A LLC		03/15/2011
**Signature of Reporting Person		Date
JCF ASSOCIATES II-A L.P. /s/ J. Christopher Flowers Title: Managing Member of JCF Associates II-A LLC		03/15/2011
**Signature of Reporting Person		Date
JCF ASSOCIATES II-A LLC /s/ J. Christopher Flowers Title: Managing Member		03/15/2011
**Signature of Reporting Person		Date
JCF ASSOCIATES II L.P. /s/ J. Christopher Flowers Title: Director of JCF Associates II Ltd.		03/15/2011
**Signature of Reporting Person		Date
JCF ASSOCIATES II Ltd. /s/ J. Christopher Flowers Title: Director		03/15/2011
**Signature of Reporting Person		Date
J. CHRISTOPHER FLOWERS /s/ J. Christopher Flowers		03/15/2011
**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)	This amount represents the $26.00 secondary public offering price per share of common stock of the Issuer less the underwriting discount of $0.65 per share.
(2)	These shares are held directly by JCF FPK I L.P., the general partner of which is JCF Associates II-A L.P., the general partner of which is JCF Associates II-A LLC, the sole member of which is JCF Associates II L.P., the general partner of which is JCF Associates II L.P., the sole director of which is J. Christopher Flowers.
(3)	Each of JCF Associates II-A L.P., JCF Associates II-A LLC, JCF Associates II L.P., JCF Associates II Ltd. and Mr. Flowers disclaims beneficial ownership of the securities reported herein 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 any of JCF Associates II-A L.P., JCF Associates II-A LLC, JCF Associates II L.P., JCF Associates II Ltd. or Mr. Flowers has beneficial ownership of such securities for purposes of Section 16 of the Securities Exchange Act of 1934, as amended, and the rules promulgated thereunder or for any other purpose.

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