<SUBMISSION>
<ACCESSION-NUMBER>0001084961-04-000115
<TYPE>8-K
<PUBLIC-DOCUMENT-COUNT>2
<PERIOD>20041203
<ITEMS>1.01
<ITEMS>9.01
<FILING-DATE>20041203
<DATE-OF-FILING-DATE-CHANGE>20041203
<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>041184073
</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_maindocument.htm
<DESCRIPTION>THIRD AMENDMENT TO CREDIT AGREEMENT
<TEXT>

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<HEAD>
<TITLE>Form 8K - Semptember 14, 2004</TITLE>
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<BODY>








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<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=3>SECURITIES AND
EXCHANGE COMMISSION </FONT><BR><FONT FACE="Times New Roman, Times, Serif" SIZE=2>WASHINGTON, D.C. 20549 </FONT></H1>
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<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=3>FORM 8-K </FONT></H1>
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<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=3>CURRENT REPORT </FONT><BR>
<FONT FACE="Times New Roman, Times, Serif" SIZE=2>Pursuant to Section 13
or 15(d) </FONT><BR><FONT FACE="Times New Roman, Times, Serif" SIZE=2>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):&nbsp;&nbsp; November 29, 2004  </FONT></P>

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<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=3>Encore Capital Group,
Inc. </FONT></H1>

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<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(Exact Name of
Registrant as Specified in its Charter) </FONT></P>



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     <TH ALIGN="CENTER"><FONT SIZE="2">Delaware</FONT></TH>
     <TH ALIGN="CENTER"><FONT SIZE="2"></FONT></TH>
     <TH ALIGN="CENTER"><FONT SIZE="2">000-26489</FONT></TH>
     <TH ALIGN="CENTER"><FONT SIZE="2"></FONT></TH>
     <TH ALIGN="CENTER"><FONT SIZE="2">48-1090909</FONT></TH></TR>
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     <TD WIDTH="32%" ALIGN="CENTER"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">(State or other jurisdiction of<BR>
incorporation or organization)</FONT></TD>
     <TD WIDTH="2%" ALIGN="CENTER"><FONT FACE="Times New Roman, Times, Serif" SIZE="2"></FONT></TD>
     <TD WIDTH="32%" ALIGN="CENTER"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">(Commission File Number)</FONT></TD>
     <TD WIDTH="2%" ALIGN="CENTER"><FONT FACE="Times New Roman, Times, Serif" SIZE="2"></FONT></TD>
     <TD WIDTH="32%" ALIGN="CENTER"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">(I.R.S Employer<BR>
Identification No.)</FONT></TD></TR>
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     <TD ALIGN="CENTER"><FONT FACE="Times New Roman, Times, Serif" SIZE="2"></FONT></TD>
     <TD ALIGN="CENTER"><FONT FACE="Times New Roman, Times, Serif" SIZE="2"></FONT></TD>
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     <TD ALIGN="CENTER"><FONT FACE="Times New Roman, Times, Serif" SIZE="2"></FONT></TD></TR>
</TABLE>


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<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE="2"><B>8875 Aero Drive</B> </FONT> <BR>
<FONT FACE="Times New Roman, Times, Serif" SIZE="2"><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>

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<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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<BR><BR><BR><BR>
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<H1 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Item 1.01&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Entry into a
Material Definitive Agreement </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
November 29, 2004, the Company entered into an amendment to the Credit Agreement dated as
of December 20, 2000 between its subsidiary, MRC Receivables Corporation, and CFSC Capital
Corp. VIII, to decrease the borrowing cost on loans to finance certain portfolio purchases
made between October 15, 2004 and December 31, 2004. The Credit Agreement expires on
December 31, 2004. A copy of the amendment to the Credit Agreement is being filed as an
exhibit hereto. </FONT></P>


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<H1 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Item 9.01&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Financial
Statements and Exhibits </FONT></H1>

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<P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(c) Exhibits </FONT></P>





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<TD WIDTH=9%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>10.1 </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> Third  Amendment  dated as of November 29, 2004 to Credit  Agreement  dated as of December
                         20, 2000 between MRC Receivables Corporation and CFSC Capital Corp. </FONT></TD></TR>
</TABLE>
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<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>2 </FONT></P>


<BR>


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

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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>


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     <TD><FONT FACE="Times New Roman, Times, Serif" SIZE="2"></FONT></TD>
     <TD><FONT FACE="Times New Roman, Times, Serif" SIZE="2"><B>ENCORE CAPITAL GROUP, INC.</B></FONT></TD>
     <TD><FONT FACE="Times New Roman, Times, Serif" SIZE="2"></FONT></TD></TR>
<TR VALIGN="BOTTOM">
     <TH><FONT SIZE="1"></FONT></TH>
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     <TD WIDTH="34%"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">Date: December 3, 2004</FONT></TD>
     <TD WIDTH="33%"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">By&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; /s/ Barry R. Barkley<BR>
&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;
<BR>
Barry R. Barkley<BR>
Executive Vice President,<BR>
Chief Financial Officer and Treasurer</FONT></TD>
     <TD WIDTH="33%"><FONT FACE="Times New Roman, Times, Serif" SIZE="2"></FONT></TD></TR>

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<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>3 </FONT></P>

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




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<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>Description </FONT></TD>
</TR>
</TABLE>
<BR>

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<TD WIDTH=9%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>10.1 </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> Third  Amendment  dated  as of  November  29,  2004 to  Credit  Agreement  dated as of
                             December 20, 2000 between MRC Receivables Corporation and CFSC Capital Corp. </FONT></TD></TR>
</TABLE>
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<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>4 </FONT></P>


<BR>

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</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-10
<SEQUENCE>2
<FILENAME>form8k_exhibit101.htm
<DESCRIPTION>RECITALS OF NEW CONTRACTS
<TEXT>
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<P ALIGN=RIGHT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Exhibit 10.1 </FONT></P>

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<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=4><B>THIRD AMENDMENT TO
CREDIT AGREEMENT </B></FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;THIS
THIRD AMENDMENT TO CREDIT AGREEMENT is made as of November 29, 2004, by and between MRC
RECEIVABLES CORPORATION, a Delaware corporation (the &#147;Borrower&#148;), and CFSC
CAPITAL CORP. VIII, a Delaware corporation (the &#147;Lender&#148;). </FONT></P>

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<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=3><U>Recitals  </U></FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;WHEREAS,
the Borrower and the Lender have entered into a Credit Agreement dated as of December 20,
2000, as amended by First Amendment to Credit Agreement dated as of June 26, 2003, and
Second Amendment to Credit Agreement dated as of May 17, 2004, and as modified or
supplemented by various additional letter agreements (as so amended, modified and
supplemented, the &#147;Credit Agreement&#148;), pursuant to which the Lender agreed to
consider making financing available to the Borrower from time to time to finance the
Borrower&#146;s purchase of pools of charged off credit card accounts and other delinquent
or deficiency consumer obligations. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;WHEREAS,
the Borrower has requested that the Lender enter into this Third Amendment to Credit
Agreement (the &#147;Third Amendment&#148;) to modify certain terms and provisions of the
Credit Agreement only with respect to portfolios of nonperforming or charged-off credit
card accounts to be acquired by the Borrower on or after October 15, 2004 other than Asset
Pools purchased pursuant to that certain Receivables Purchase Agreement dated as of April
12, 2002, as amended (collectively, the &#147;Excluded Asset Pools&#148;). </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;WHEREAS,
the Lender has agreed to such modifications pursuant to the terms and subject to the
conditions set forth in the Credit Agreement and this Third Amendment. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;NOW,
THEREFORE, in consideration of the premises and the mutual covenants and agreements
hereinafter set forth, the Lender and the Borrower hereby agree as follows: </FONT></P>

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     <P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
          <U>Scope of Third Amendment</U>. The terms and provisions of this Third Amendment shall
          be in force and effective only with respect to the New Asset Pools (as defined
          below), and shall have no force and effect with respect to any other Asset
          Pools, which shall continue to be governed pursuant to the Credit Agreement in
          effect prior to this Third Amendment. </FONT></P>

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     <P><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Definitions</U>. The terms defined in the <U>preamble </U>hereto shall have the meanings
therein assigned to them, and all other defined terms used in this Third
Amendment shall have the meanings assigned to them in the Credit Agreement,
unless otherwise specified herein. <U>Section 1.1 </U>of the Credit Agreement shall be
amended as follows: </FONT> </P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Contingent
Payment </U>shall mean, with respect to each New Asset Pool, a payment in an amount equal to
the amount determined by multiplying the Contingent Payment Percentage and the amount of
all remaining Asset Pool Proceeds generated from Assets in such New Asset Pool for a
Distribution Period after the payments contemplated in <U>Section 2.8(a) </U>through <U>Section
2.8(j) </U>for such Distribution Period have been made with respect to such New Asset Pool;
provided, however, that the aggregate of all Contingent Payments and interest income paid
to date for such New Asset Pool shall not exceed the Contingent Payment Cap. </FONT> </P>


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<P><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Contingent
Payment Cap </U>shall mean, for each New Asset Pool, an amount equal to twelve percent (12%)
of the original principal balance of the Loan for such New Asset Pool. </FONT> </P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Contingent
Payment Deadline </U>shall mean the last day of the twenty-fourth (24th) calendar month
following the Borrowing Date for a Loan related to a New Asset Pool. </FONT> </P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>New
Asset Pools </U>shall mean all Asset Pools acquired pursuant to an Approved Borrowing Request
during the period commencing October 15, 2004 and ending at midnight on December 31, 2004,
other than Excluded Asset Pools. </FONT> </P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>New
Asset Pool Shortfall </U>shall mean the occurrence of any of the following events related to a
New Asset Pool: </FONT> </P>

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     <P><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
as of the last day of any Test Period (excluding the two (2) Test Periods
immediately following the Borrowing Date for the related Loan) for a given New
Asset Pool, the Asset Pool Proceeds received and disbursed pursuant to <U>Section
2.8 </U>through such date with respect to such New Asset Pool are less than
eighty-five percent (85%) of the projected Asset Pool Proceeds to be received
and disbursed pursuant to <U>Section 2.8 </U>through such date (as set forth in the bid
package submitted by the Borrower as a part of the related Borrowing Request)
(herein, the &#147;85% Test&#148;), or </FONT> </P>

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     <P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
          all Contingent Payments due and payable with respect to any New Asset Pool are
          not paid in full on or before the related Contingent Payment Deadline (herein,
          the &#147;Contingent Payment Test&#148;), or </FONT></P>

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     <P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
          an Event of Default exists and has not been waived in writing by the Lender, and
          the Lender determines that, in its judgment, the remaining Asset Pool Proceeds
          which the Lender projects will be received with respect to the New Asset Pool
          and applied to the related Loan will be insufficient to (X) repay such Loan and
          all accrued interest thereon on or before the applicable Loan Maturity Date in
          the case of (a) above, or (Y) pay all Contingent Payments with respect to such
          New Asset Pool on or before the Contingent Payment Deadline in the case of (b)
          above (herein, the &#147;Default Test&#148;). </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>New
Asset Pool Shortfall </U>Amount shall mean, with respect to a given New Asset Pool: </FONT> </P>

<!-- MARKER FORMAT-SHEET="Para (List) Indent Lv 0- TNR" FSL="Project" -->
     <P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
          the amount of the shortfall of Asset Pool Proceeds from the Projected Asset Pool
          Proceeds determined by the Lender in the case of the 85% Test, or </FONT></P>

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     <P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
          the amount of the shortfall in payment of all Contingent Payments up to the
          related Contingent Payment Cap in the case of the Contingent Payment Test, or </FONT></P>

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     <P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
          the shortfall estimated by the Lender in its discretion in the case of the
          Default Test. </FONT></P>


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     <P><FONT FACE="Times New Roman, Times, Serif" SIZE="2">3.&nbsp;&nbsp;&nbsp;&nbsp;
<U>Asset Pool Shortfalls</U>. A new Section 2.10 shall be added that provides as
follows: </FONT> </P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;2.10
<U>Asset Pool Shortfalls for New Asset Pools</U>. The provisions of this <U>Section 2.10 </U>shall apply
to New Asset Pools only, and shall apply in lieu of the provisions of <U>Section 2.9</U>. If a
New Asset Pool Shortfall occurs for a New Asset Pool; then, upon written notice from the
Lender to the Borrower and the Servicer, the related New Asset Pool Shortfall Amount shall
be paid, as provided in <U>Section 2.8(h)</U>, from Asset Pool Proceeds collected with respect to
one or more other Asset Pools (whether or not New Asset Pools) designated by the Lender,
in its sole and absolute discretion, for such period of time as the Lender, in its sole
and absolute discretion, shall require, but in no event longer than the continuing
existence of such New Asset Pool Shortfall Amount. Nothing in this <U>Section 2.10 </U>shall be
deemed to limit or restrict the rights and remedies available to the Lender as a result of
the occurrence of a Default or Event of Default under this Agreement or as a result of a
Termination Event under the Servicing Agreement.&#148; </FONT> </P>

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     <P><FONT FACE="Times New Roman, Times, Serif" SIZE="2">4.&nbsp;&nbsp;&nbsp;&nbsp;
<U>Release of Collateral</U>. The following shall be added to the end of Section 3.4: </FONT> </P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;Upon
the payment in full of all of the Loans and the Contingent Payments with respect to all
New Asset Pools, all New Asset Pools shall be free and clear of any lien or security
interest of the Lender and may be sold or otherwise transferred at the option of the
Borrower or Servicer without further consideration payable to the Lender. The Lender, upon
request of the Borrower, shall execute and deliver to the Servicer UCC releases prepared
by the Servicer, in form and content acceptable to the Lender, with respect to all New
Asset Pools.&#148; </FONT></P>

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     <P><FONT FACE="Times New Roman, Times, Serif" SIZE="2">5.&nbsp;&nbsp;&nbsp;&nbsp;
<U>Representations and Warranties; No Default; Authority</U>. The Borrower represents
and warrants to the Lender that all of the representations and warranties of the
Borrower in the Credit Agreement are true as of the date of this Third Amendment
and that no Default has occurred pursuant to the Credit Agreement or any Loan
Document. The Borrower has full authority to enter into this Third Amendment.
This Third Amendment will not violate the terms and provisions of any other
contract to which the Borrower or any of its Affiliated Parties is a party. </FONT> </P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>6. &nbsp;&nbsp;&nbsp;&nbsp;<U>No
Waiver; Effect of Amendment</U>. The terms and provisions of the Credit Agreement, as
amended hereby, shall remain in full force and effect, and the parties hereto agree that
this Third Amendment shall not be and is not intended to constitute a waiver of any of
the terms and provisions of the Credit Agreement.  </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>7.&nbsp;&nbsp;&nbsp;&nbsp;<U>Governing
Law</U>. This Third Amendment shall be governed by and construed in accordance with the
laws of the State of Minnesota.  </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>8.&nbsp;&nbsp;&nbsp;&nbsp;<U>Counterpart
Signatures</U>. This Third Amendment may be executed in counterpart originals, all of
which, when combined, shall constitute one document binding on all of the parties hereto.  </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>9.&nbsp;&nbsp;&nbsp;&nbsp;<U>Confidentiality</U>.
The existence of this Third Amendment and the terms and provisions thereof shall be
deemed Confidential Information subject to the provisions of Section 9.16 of the Credit
Agreement; except for disclosure made on the advice of counsel to comply with applicable
securities laws.  </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
WITNESS WHEREOF, the parties hereto have executed this Third Amendment effective as of the
date first above written. </FONT></P>



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     <TH><FONT FACE="Times New Roman, Times, Serif" SIZE="1"></FONT></TH>
     <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>
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     <TD WIDTH="39%"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">MRC RECEIVABLES CORPORATION</FONT></TD>
     <TD WIDTH="23%"><FONT FACE="Times New Roman, Times, Serif" SIZE="2"></FONT></TD>
     <TD WIDTH="38%"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">CFSC CAPITAL CORP. VIII</FONT></TD></TR>
<TR VALIGN="TOP">
     <TD><FONT FACE="Times New Roman, Times, Serif" SIZE="2">By: /s/ J. Brandon Black<BR>&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;
<BR>Name: J. Brandon Black<BR>&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;
<BR>
Title: President <BR>&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;
<BR></FONT></TD>
     <TD><FONT FACE="Times New Roman, Times, Serif" SIZE="2"></FONT></TD>
     <TD><FONT FACE="Times New Roman, Times, Serif" SIZE="2">By: /s/ Greggory S. Haugen<BR>&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;
<BR>
Name: Greggory S. Haugen<BR>&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;
<BR>
Title: Senior Vice President<BR>&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;
<BR> </FONT></TD></TR>

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<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2><I><I>Signature Page to
Third Amendment to Credit Agreement</I> </I></FONT></P>


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