UNITED ~~STATESSECURITIES~~STATES SECURITIES AND EXCHANGE ~~COMMISSIONWashington~~COMMISSION WASHINGTON, DC 20549

FORM 8-K

CURRENT REPORT ~~PURSUANTTO~~PURSUANT TO SECTION 13 OR 15(D) OF ~~THESECURITIES~~THE SECURITIES EXCHANGE ACT OF 1934

Date of report (Date of earliest event reported): ~~July~~December 2829, 2005

NCO Group, Inc.

(Exact Name of Registrant as Specified in Its Charter)

Pennsylvania	0-21639	~~0-21639~~	23-2858652	~~23-2858652~~
(State or other jurisdiction of incorporation)	(Commission File Number)	~~(Commission File Number)~~	(IRS Employer Identification No.)	~~(IRS Employer Identification No.)~~
507 Prudential Road, Horsham, Pennsylvania			19044
(Address of principal executive offices)			(Zip Code)

507 Prudential Road, Horsham, Pennsylvania			19044
(Address of principal executive offices)			(Zip Code)

Registrant’s telephone number, including area code (215) 441-3000

Not Applicable

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 21.0201. ~~Results~~Entry ofinto ~~Operations~~a ~~and~~Material ~~Financial~~Definitive ~~Condition.~~Agreement

OnEffective ~~July~~December 2829, 2005, the Board of Directors of NCO Group, Inc. ~~issued~~approved athe ~~press~~acceleration ~~release~~of ~~announcing~~vesting ~~its~~of ~~results~~outstanding ofunvested ~~operations~~options ~~for~~to purchase the ~~second~~Company’s ~~quarter~~common stock, which have an exercise price equal to or greater than $17.25 per share (“Eligible Options”). Any shares received upon the exercise of ~~2005~~Eligible Options are restricted and may not be sold prior to the date on which the Eligible Options would have been exercisable under the original terms. As Aa ~~copy~~result of the ~~press~~acceleration, ~~release~~options isto ~~attached~~purchase ~~hereto~~944,308 asshares ~~Exhibit~~of 99the Company’s common stock are immediately exercisable.1 All other terms and isconditions ~~incorporated~~applicable ~~herein~~to bythe ~~reference~~Eligible Options remain unchanged. All terms and conditions of all options that are not Eligible Options remain unchanged.

~~The Company disclaims any obligation to update the information in this Report as a result of new information, future events, or otherwise.~~2

Item 9.01. Financial Statements and Exhibits

		(c)	Exhibits
		99.1	Press Release of NCO Group, Inc. dated July 28, 2005.

SIGNATURES

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 hereunto duly authorized.

	~~NCO GROUP, INC.~~	NCO GROUP, INC.
Date: July 29, 2005	By: /s/ Steven L. Winokur
Date: January 5, 2006		By:	/s/ Steven L. Winokur
	~~Steven L. Winokur~~		Steven L. Winokur
	~~Executive Vice President~~		Executive Vice President
	~~and Chief Financial Officer~~		and Chief Financial Officer

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