<SUBMISSION>
<ACCESSION-NUMBER>0001084961-03-000017
<TYPE>8-K
<PUBLIC-DOCUMENT-COUNT>2
<PERIOD>20030512
<ITEMS>9
<FILING-DATE>20030512
<FILER>
<COMPANY-DATA>
<CONFORMED-NAME>ENCORE CAPITAL GROUP INC
<CIK>0001084961
<ASSIGNED-SIC>6153
<IRS-NUMBER>481090909
<STATE-OF-INCORPORATION>DE
<FISCAL-YEAR-END>1231
</COMPANY-DATA>
<FILING-VALUES>
<FORM-TYPE>8-K
<ACT>34
<FILE-NUMBER>000-26489
<FILM-NUMBER>03691484
</FILING-VALUES>
<BUSINESS-ADDRESS>
<STREET1>5775 ROSECOE COURT
<CITY>SAN DIEGO
<STATE>CA
<ZIP>92123
<PHONE>8007590327
</BUSINESS-ADDRESS>
<MAIL-ADDRESS>
<STREET1>5775 ROSCOE COURT
<CITY>SAN DIEGO
<STATE>CA
<ZIP>92123
</MAIL-ADDRESS>
<FORMER-COMPANY>
<FORMER-CONFORMED-NAME>MCM CAPITAL GROUP INC
<DATE-CHANGED>19990430
</FORMER-COMPANY>
<FORMER-COMPANY>
<FORMER-CONFORMED-NAME>MIDLAND CORP OF KANSAS
<DATE-CHANGED>19990423
</FORMER-COMPANY>
</FILER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>form8k_pr050903.htm
<DESCRIPTION>PRESS RELEASE
<TEXT>
<HTML>
<HEAD>
<TITLE>Form 8K Press Release</TITLE>
</HEAD>
<BODY>


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<A NAME=A001></A>
<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>UNITED STATES<BR>SECURITIES AND
EXCHANGE COMMISSION <BR>WASHINGTON, D.C. 20549 </FONT></H1>

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<A NAME=A003></A>
<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>FORM 8-K </FONT></H1>

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<A NAME=A004></A>
<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>CURRENT REPORT <BR>Pursuant to Section 13
or 15(d)

<BR>of the Securities
Exchange Act of 1934 </FONT></H1>

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<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
Date
of Report (Date of earliest event reported): May 12, 2003 </FONT></p>




<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2><b>Encore Capital Group,
Inc.</b> </FONT><BR><FONT FACE="Times New Roman, Times, Serif" SIZE=1>(Exact Name of
Registrant as Specified in its Charter)  </FONT></p>




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<TR VALIGN=Bottom>
     <TH><FONT FACE="Times New Roman, Times, Serif" SIZE=2> Delaware&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TH>
     <TH><FONT FACE="Times New Roman, Times, Serif" SIZE=2> 000-26489 </FONT></TH>
     <TH><FONT FACE="Times New Roman, Times, Serif" SIZE=2>48-1090909</FONT></TH></TR>
<TR VALIGN=Bottom>
     <TD WIDTH="30%" ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="1">(State or other jurisdiction of </FONT> </TD>
     <TD WIDTH="40%" ALIGN="center"><FONT FACE="Times New Roman, Times, Serif" SIZE="1">(Commission File Number) </FONT> </TD>
     <TD WIDTH="30%" ALIGN="center"><FONT FACE="Times New Roman, Times, Serif" SIZE="1">&nbsp;(I.R.S Employer </FONT> </TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE=1>incorporation or organization)</FONT></TD>
<TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE=1></FONT></TD>
     <TD ALIGN="center"><FONT FACE="Times New Roman, Times, Serif" SIZE=1>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Identification No.)</FONT></TD>
 </TR>
</TABLE>



<p ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2><b>5775 Roscoe Court</b> <BR><b>San Diego, California
92123</b></FONT><BR><FONT FACE="Times New Roman, Times, Serif" SIZE=1>(Address of Principal
Executive Offices) (Zip Code) </FONT></P>


<p ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2><b>(877) 445-4581</b> </FONT><BR>
<FONT FACE="Times New Roman, Times, Serif" SIZE=1>(Registrant&#146;s
Telephone Number, Including Area Code) </FONT></P>


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<A NAME=A015></A>
<H1 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Item 9. Regulation FD
Disclosure </FONT></H1>

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<A NAME=A016></A>
<H1 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Item 12. Disclosure of
Results of Operations and Financial Condition </FONT></H1>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;On May
12, 2003 the Company issued a press release announcing its unaudited financial results for
the first quarter ended March 31, 2003. A copy of the press release is attached to this
Current Report on Form 8-K as Exhibit 99.1 and is incorporated herein solely for purposes
of Items 9 and 12. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In
accordance with Securities and Exchange Commission Release No.&nbsp;33-8216, the
information furnished under this Item&nbsp;9 (&#147;Regulation FD Disclosure&#148;) is
intended to be furnished under Item&nbsp;12 (&#147;Disclosure of Results of Operations and
Financial Condition&#148;). The information in this Current Report on Form 8-K, including
the exhibit, shall not be deemed &#147;filed&#148; for the purposes of Section 18 of the
Securities Exchange Act of 1934 or otherwise subject to the liabilities under that
Section. Furthermore, the information in this Current Report on Form 8-K, including the
exhibit, shall not be deemed to be incorporated by reference into the filings of Encore
Capital Group, Inc. under the Securities Act of 1933. </FONT></P>

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<A NAME=A017></A>
<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>SIGNATURES </FONT></H1>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused
this report to be signed on its behalf by the undersigned thereunto duly authorized. </FONT></P>




<TABLE CELLPADDING=0 CELLSPACING=0 BORDER=0 ALIGN=Center WIDTH=600>
<TR VALIGN=Bottom>
     <TH><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT></TH>
     <TH><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT></TH>
     <TH align=left><FONT FACE="Times New Roman, Times, Serif" SIZE=2>ENCORE CAPITAL GROUP, INC.</FONT><BR><BR></TH></TR>
<TR VALIGN=Bottom>
     <TD WIDTH=10% ALIGN=center><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Date:</FONT></TD>
     <TD WIDTH=50% ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>May 12, 2003</FONT></TD>
     <TD WIDTH=40% ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;By<u>&nbsp;&nbsp;&nbsp;&nbsp;/s/ Barry R. Barkley&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u></FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT></TD>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT></TD>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Barry R. Barkley</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT></TD>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT></TD>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Executive Vice President,</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT></TD>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT></TD>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Chief Financial Officer and Treasurer</FONT></TD></TR>
</TABLE>
<BR><BR>

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<HR SIZE=2 COLOR=GRAY NOSHADE>


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<A NAME=A018></A>
<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>EXHIBIT INDEX </FONT></H1>

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<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=9%><FONT FACE="Times New Roman, Times, Serif" SIZE=2> </FONT></TD>
<TD WIDTH=3%><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT></TD>
<TD WIDTH=88%><FONT FACE="Times New Roman, Times, Serif" SIZE=2> </FONT></TD>
</TR>
</TABLE>
<BR>
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<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=9%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>          Exhibit  </FONT></TD>
<TD WIDTH=3%><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT></TD>
<TD WIDTH=88%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Description
                     </FONT></TD>
</TR>
<TR VALIGN=TOP>
<TD WIDTH=9%><FONT FACE="Times New Roman, Times, Serif" SIZE=2><BR>&nbsp;&nbsp; 99.1  </FONT></TD>
<TD WIDTH=3%><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT></TD>
<TD WIDTH=88%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
                       <BR> Press release dated May 12, 2003. </FONT></TD>
</TR>
</TABLE>
<BR>



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</HTML>

</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99
<SEQUENCE>3
<FILENAME>pressrelease_050903.htm
<DESCRIPTION>PRESS RELEASE 5-09-03
<TEXT>

<HTML>
<HEAD>
<TITLE>Press Release 5-09-03</TITLE>
</HEAD>
<BODY>

<!-- MARKER FORMAT-SHEET="Head Right-TNR" FSL="Project" -->
<P ALIGN=RIGHT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Exhibit 99.1 </FONT></P>



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<P ALIGN=RIGHT><FONT FACE="Times New Roman, Times, Serif" SIZE=2><u><b>For Immediate Release </b></u></FONT></P>


<TABLE WIDTH="600" BORDER="0" CELLPADDING="0" CELLSPACING="0">
<TR VALIGN="BOTTOM">
     <TH><FONT FACE="Times New Roman, Times, Serif" SIZE="1"></FONT></TH>
     <TH><FONT FACE="Times New Roman, Times, Serif" SIZE="1"></FONT></TH></TR>
<TR VALIGN="TOP">
     <TD WIDTH="10%"><FONT FACE="Times New Roman, Times, Serif" SIZE="2"><u><b>Contact:</b></u>  </FONT></TD>
     <TD WIDTH="75%"><FONT FACE="Times New Roman, Times, Serif" SIZE="2"><b>Carl C. Gregory, III</b></FONT></TD></TR>
<TR VALIGN="TOP">
     <TD><FONT FACE="Times New Roman, Times, Serif" SIZE="2"></FONT></TD>
     <TD><FONT FACE="Times New Roman, Times, Serif" SIZE="2"><b>President and CEO</b></FONT></TD></TR>
<TR VALIGN="TOP">
     <TD><FONT FACE="Times New Roman, Times, Serif" SIZE="2"></FONT></TD>
     <TD><FONT FACE="Times New Roman, Times, Serif" SIZE="2"><b>Phone:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 858-309-6961</b></FONT></TD></TR>
<TR VALIGN="TOP">
     <TD><FONT FACE="Times New Roman, Times, Serif" SIZE="2"></FONT></TD>
     <TD><FONT FACE="Times New Roman, Times, Serif" SIZE="2"><b>Email:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; carl.gregory@mcmcg.com</b></FONT></TD></TR>
</TABLE>

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<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2><u>ENCORE REPORTS FIRST
QUARTER RESULTS</u> </FONT></H1>

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<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>*2003 1<SUP>st</SUP> quarter
net income increases to $8.2 million <BR>from $0.2 million in
2002 </FONT></H1>

<!-- MARKER FORMAT-SHEET="Head Minor Center Bold-TNR" FSL="Project" -->
<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>*Net income includes $4.4
million from litigation settlement </FONT></H1>

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<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>*2003 1<SUP>st</SUP>
quarter gross collections increase 39% to $47.1 million </FONT></H1>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2> </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2><b>San Diego,  California,  May 12,
2003 -</b> Encore Capital Group, Inc. (OTCBB:  ECPG.OB)  announced today  significantly
improved results of operations for the first quarter of 2003. </FONT></P>



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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>During the first quarter of 2003,
Encore collected $47.1 million, up from $33.8 million in the first quarter of 2002, a 39%
increase. Revenue for the 2003 quarter was $28.1 million, a 54% increase over the
comparable 2002 revenue of $18.2 million. Revenue as a percentage of gross collections was
60% in the 2003 quarter compared with 54% during the 2002 quarter. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Net income for the quarter was $8.2
million, up significantly from the $0.2 million earned for the 1<SUP>st</SUP> quarter of
2002. Earnings per share on a fully diluted basis increased to $0.44 from $0.02 for the
same quarter in 2002. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>As reported April 7, 2003 and April
17, 2003 in its Current Reports filed on Form 8-K, Encore&#146;s 2003 1<SUP>st</SUP>
quarter earnings and fully diluted earnings per share included the one time benefit of
amounts received as a result of the settlement of a previously disclosed lawsuit. As a
result of this settlement, the Company recorded a net pretax gain in the amount of $7.2
million, which resulted in an after tax net gain of $4.4 million or $0.23 per share on a
fully diluted basis. The Company used the settlement proceeds plus cash from reserves and
other internal sources to repay in full its Warehouse Facility and Securitization 99-1. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Carl C. Gregory III, President and
CEO said, &#147;Encore&#146;s 1<SUP>st</SUP> quarter results were excellent and reflect
the success of management&#146;s effort to build a high quality process driven company
that can achieve sustainable results. Additionally, the settlement of the litigation on
favorable terms not only accomplishes important financial goals but also frees management
to focus on enhancing Encore&#146;s core business.&#148; </FONT></P>

<!-- MARKER FORMAT-SHEET="Para Flush Lv 0-TNR" FSL="Project" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>On Friday, May 9, the Company filed its Quarterly
Report on Form 10-Q with the SEC. </FONT></P>

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     <P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=4><b>### </b></FONT></P>

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<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Notes to Press Release </FONT></H1>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>The statements in this press release
that are not historical facts, including most importantly, those statements preceded by,
or that include, the words &#147;may,&#148; &#147;believes,&#148; &#147;projects,&#148;
&#147;expects,&#148; &#147;anticipates&#148; or the negation thereof, or similar
expressions, constitute &#147;forward looking statements&#148; within the meaning of the
Private Securities Litigation Reform Act of 1995 (the &#147;Reform Act&#148;). These
statements may include, but are not limited to, projections of revenues, income or loss,
estimates of capital expenditures, plans for future operations, products or services, and
financing needs or plans, as well as assumptions relating to those matters. For all
&#147;forward-looking statements,&#148; the Company claims the protection of the
safe-harbor for forward-looking statements contained in the Reform Act. Such
forward-looking statements involve risks, uncertainties and other factors which may cause
actual results, performance or achievements of the Company and our subsidiaries to be
materially different from any future results, performance or achievements expressed or
implied by such forward-looking statements. Factors that could affect the Company&#146;s
results and cause them to materially differ from those contained in the forward-looking
statements include: </FONT></P>

<UL>
    <LI><FONT FACE="Times New Roman, Times, Serif" SIZE=2>  the Company's ability to maintain existing, and secure additional, financing;</font>

   <LI> <FONT FACE="Times New Roman, Times, Serif" SIZE=2> the Company's ability to maintain sufficient liquidity to operate our business;</font>

    <LI><FONT FACE="Times New Roman, Times, Serif" SIZE=2>   the Company's continued servicing of the receivables in our secured financing facility;</font>

 <LI><FONT FACE="Times New Roman, Times, Serif" SIZE=2>  the Company's  ability to recover  sufficient  amounts on or with respect to  receivables  to fund
        operations (including from sellers of non-conforming receivable portfolios);</font>

    <LI><FONT FACE="Times New Roman, Times, Serif" SIZE=2>   the Company's ability to hire and retain qualified personnel to recover its
        receivables efficiently;</font>

    <LI><FONT FACE="Times New Roman, Times, Serif" SIZE=2>  changes in, or failure to comply with, government regulations;</font>

    <LI> <FONT FACE="Times New Roman, Times, Serif" SIZE=2>  the costs, uncertainties and other effects of legal and administrative proceedings;
 and               the costs, uncertainties and other effects of legal and administrative proceedings; and</font>

    <LI><FONT FACE="Times New Roman, Times, Serif" SIZE=2>  risk factors and cautionary  statements made in the Company's Annual Report on Form 10-K as of and
        for the period ended December 31, 2002.</font>

</ul>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Forward-looking statements speak
only as of the date the statement was made. They are inherently subject to risks and
uncertainties, some of which the Company cannot predict or quantify. Future events and
actual results could differ materially from the forward-looking statements. The Company
will not undertake and specifically declines any obligation to publicly release the
result of any revisions to any forward-looking statements to reflect events or
circumstances after the date of such statements or to reflect the occurrence of
anticipated or unanticipated events, whether as the result of new information, future
events or for any other reason. In addition, it is the Company&#146;s policy generally
not to make any specific projections as to future earnings, and the Company does not
endorse any projections regarding future performance that may be made by third parties.  </FONT></P>


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</SUBMISSION>
