UNITED STATES SECURITIES AND EXCHANGE COMMISSION
                     Washington, DC  20549


                           FORM 8-K



                       CURRENT REPORT



           PURSUANT TO SECTION 13 OR 15(d) OF THE
               SECURITIES EXCHANGE ACT OF 1934



   Date of Report (Date of earliest event reported) January
                          27, 2005


                   NICHOLAS FINANCIAL, INC.
    (Exact name of registrant as specified in its Charter)


   British Columbia, Canada    0-26680          8736-3354
  (State or Other Jurisdiction of(Commission (I.R.S. Employer
  Incorporation or Organization)File Number) Identification No.)

  2454 McMullen Booth Road, Building C
    Clearwater, Florida                           33759
  (Address of Principal Executive Offices)      (Zip Code)


                        (727) 726-0763
     (Registrant's telephone number, Including area code)


                        Not applicable
    (Former name, former address and former fiscal year, if
                 changed since last report)


<PAGE> 2


Item 2.02   Results of Operations and Financial Condition

Clearwater,  Florida, - January 27, 2005: Nicholas Financial,  Inc.
(NASDAQ,  NICK), today announced record revenues,  net  income  and
earnings  per share for the three months ended December  31,  2004.
Revenues  for  the third quarter ended December 31, 2004  increased
34%  to  $8,541,000  compared to $6,385,000 for the  quarter  ended
December  31,  2003. Net income for the quarter  increased  70%  to
$2,214,000  from $1,306,000 last year. Earnings per share  for  the
quarter increased 33% to $0.32 per share from $0.24 per share  last
year.  The  Company has reported record same quarter  increases  in
revenues and earnings for 57 out of the past 58 quarters.


Item 9.01      Financial Statements and Exhibits

Exhibit #      Description

 9       Press release dated January 27, 2005, announcing
          record earnings for the third quarter ended
          December 31, 2004.

<PAGE> 3


                         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.


                  NICHOLAS FINANCIAL, INC.
                        (Registrant)


  Date: January 27, 2005        /s/ Peter L. Vosotas
                                Peter L. Vosotas
                                Chairman, President,
                                Chief Executive Officer
                                (Principal Executive Officer)


  Date: January 27, 2005        /s/ Ralph T. Finkenbrink
                                Ralph T.  Finkenbrink
                                (Principal Financial
                                 Officer and Accounting
                                 Officer)

<PAGE> 4

Exhibit Index

Exhibit     Description

 9       Press release dated January 27, 2005, announcing
          record earnings for the third quarter ended
          December 31, 2004.



<PAGE> 5





                         FOR IMMEDIATE RELEASE


Nicholas Financial, Inc.
Corporate Headquarters

2454 McMullen-Booth Rd.
Building C, Suite 501
Clearwater, FL 33759

Contact:  Ralph Finkenbrink
          Sr. Vice President, CFO
NASDAQ:   NICK
Web site: www.nicholasfinancial.com
Ph # :    727-726-0763

  Nicholas Financial Reports Record 3rd Quarter Results & Expands
                           into Kentucky


Clearwater,  Florida, - January 27, 2005: Nicholas Financial,  Inc.
(NASDAQ,  NICK), today announced record revenues,  net  income  and
earnings  per share for the three months ended December  31,  2004.
Revenues  for  the third quarter ended December 31, 2004  increased
34%  to  $8,541,000  compared to $6,385,000 for the  quarter  ended
December  31,  2003. Net income for the quarter  increased  70%  to
$2,214,000  from $1,306,000 last year. Earnings per share  for  the
quarter increased 33% to $0.32 per share from $0.24 per share  last
year.  The  Company has reported record same quarter  increases  in
revenues and earnings for 57 out of the past 58 quarters.

For the nine months ended December 31, 2004, revenues increased 27%
to  $23,651,000 compared to $18,590,000 for the nine  months  ended
December  31, 2003. Net income for the nine-month period  increased
54%  to  $5,712,000 from $3,721,000 last year. Earnings  per  share
increased  25% to $0.86 per share compared to $0.69 per share  last
year.

During  the 3rd quarter, the Company opened its first branch office
in the state of Kentucky. The branch office is located in Florence,
Kentucky.

Founded  in  1985, with assets of $114,029,000 as of  December  31,
2004,  Nicholas  Financial, Inc. is one  of  the  largest  publicly
traded specialty consumer finance companies based in the Southeast.
The  Company presently operates out of 35 branch locations in  both
the   Southeast   and  the  Mid-West  States.   The   Company   has
approximately 6,550,000 shares of common stock outstanding. For  an
index  of  Nicholas Financial Inc.'s news releases or to  obtain  a
specific release, visit our web site at www.nicholasfinancial.com.


Except for the historical information contained herein,  the
matters  discussed  in  this news release  include  forward-
looking  statements  that  involve risks  and  uncertainties
including competitive factors, the management of growth, and
other  risks  detailed from time to time  in  the  Company's
filings   and  reports  with  the  Securities  and  Exchange
Commission including the Company's Annual Report on Form 10-
KSB  for the year ended March 31, 2004. Such statements  are
based on the beliefs of the Company's management as well  as
assumptions  made by and information currently available  to
Company  management.  Actual events or  results  may  differ
materially.

                         ##  More ##

<PAGE> 6

 Nicholas Financial, Inc.

              Consolidated Income Statements
(Unaudited, Dollars in Thousands, Except Per Share Amounts)

<TABLE>
<CAPTION>


                     Three Months Ended  Nine Months Ended
                        December 31,      December 31,
                       2004      2003      2004      2003
                   ------------------------------------------
<S>                <C>          <C>       <C>        <C>
Revenue:
Finance charge
 income             $   8,485    $ 6,335   $ 23,496   $ 18,397
Other income               56         50        155        193
                    -------------------------------------------
                        8,541      6,385     23,651     18,590

Costs and expenses:
Operating expenses      3,506      2,700      9,930      8,090
Provision for losses      566        633      1,806      1,617
Interest expense          909        950      2,720      2,906
                     ------------------------------------------
                        4,981      4,283     14,456     12,613

Income before
 income taxes           3,560      2,102      9,195      5,977
                     ------------------------------------------
Income tax provision    1,346        796      3,483      2,256

Net income           $  2,214    $ 1,306   $  5,712   $  3,721
                    ===========================================
Earnings per share:
 Basic               $    .34    $   .26   $    .92   $    .74
                    ===========================================
 Diluted             $    .32    $   .24   $    .86   $    .69
                    ===========================================

Weighted
 average shares     6,514,634  5,064,623  6,227,129  5,036,730
                    ===========================================
Weighted average
shares and assumed
  dilution          6,929,919  5,438,989  6,629,730  5,395,815
                    ===========================================

</TABLE>


<TABLE>
<CAPTION>
Condensed Consolidated Balance Sheets
(Unaudited, Dollars in Thousands)
                          December 31,      March 31,
                              2004            2004
                      ----------------------------------------
<S>                       <C>             <C>
Cash                       $    1,494      $       958
Finance receivables, net      106,989           97,237
Other assets                    5,546            5,028
                            ---------         --------
 Total assets                $114,029         $103,223
                            =========         ========

Line of credit               $ 62,208         $ 67,510
Other notes payable             1,552            1,593
Other liabilities               6,460            6,674
                            ---------        ---------
 Total liabilities             70,220           75,777

Shareholders' equity           43,809           27,446
                            ---------        ---------
Total liabilities and
 Shareholders' equity        $114,029         $103,223
                            =========        =========
</TABLE>

                         ##  More ##

<PAGE> 7
<TABLE>
<CAPTION>

                                  Three months ended         Nine months ended
                                      December 31,               December 31,
Portfolio Summary                  2004         2003          2004         2003
                            --------------------------------------------------------
<S>                            <C>          <C>           <C>          <C>
Average finance receivables,
net of unearned interest(1)    $130,157,442  $112,338,303  $127,149,953 $110,248,781
                               ======================================================
Average indebtedness (2)        $63,908,352   $66,328,452   $63,564,709  $64,243,278
                               ======================================================
Finance revenue (3)              $8,484,354    $6,334,652   $23,495,609  $18,397,452

Interest expense                    909,468       950,109     2,719,551    2,905,747
                                -----------------------------------------------------
Net finance revenue              $7,574,886    $5,384,543   $20,776,058  $15,491,708
                                =====================================================
Weighted average
contractual rate (4)                 23.65%        23.85%        23.90%       24.02%
                                =====================================================
Average cost of
borrowed funds(2)                     5.69%         5.73%         5.70%        6.03%
                                =====================================================

Gross portfolio yield (5)            26.07%        22.56%        24.63%       22.25%

Interest expense as a
percentage of average finance
receivables, net of unearned
interest                              2.79%         3.38%         2.85%        3.51%

Provision for credit losses as
a percentage of average finance
receivables, net of unearned
interest                              1.74%         2.25%         1.89%        1.96%
                                -----------------------------------------------------
Net portfolio yield (5)              21.54%        16.93%        19.89%       16.78%

Operating expenses as a
percentage of average finance
receivables, net of unearned
interest (6)                         10.60%         9.39%        10.25%        9.51%
                                -----------------------------------------------------

Pre-tax yield as a percentage
of average finance receivables,
net of unearned interest (7)         10.94%         7.54%         9.64%        7.27%
                                =====================================================

Write-off to liquidation (8)          7.45%         9.64%         6.99%        9.12%

Net charge-off percentage (9)         6.52%         8.11%         6.03%        7.79%

</TABLE>

Note:  All  three and nine month key performance  indicators
    expressed as percentages have been annualized.

(1) Average  finance receivables, net of unearned  interest,
    represents  the  average of gross  finance  receivables,
    less unearned interest throughout the period.

(2) Average  indebtedness represents the average outstanding
    borrowings  under  the  Line and  notes  payable-related
    party.    Average  cost  of  borrowed  funds  represents
    interest   expense   as   a   percentage   of    average
    indebtedness.

(3) Finance  revenue does not include revenue  generated  by
    Nicholas  Data Services, Inc., ("NDS") the  wholly-owned
    software subsidiary of Nicholas Financial, Inc.

(4) Weighted   average  contractual  rate   represents   the
    weighted  average annual percentage rate  (APR)  of  all
    Contracts  purchased and direct loans originated  during
    the period.

(5) Gross portfolio yield represents finance revenues  as  a
    percentage  of  average  finance  receivables,  net   of
    unearned   interest.  Net  portfolio  yield   represents
    finance  revenue minus (a) interest expense and (b)  the
    provision  for credit losses as a percentage of  average
    finance receivables, net of unearned interest.

(6) Operating   expenses  represent  total  expenses,   less
    interest  expense, the provision for credit  losses  and
    operating costs associated with NDS.

(7) Pre-tax  yield  represents  net  portfolio  yield  minus
    operating  expenses as a percentage of  average  finance
    receivables, net of unearned interest.

(8) Write-off  to  liquidation  percentage  is  defined   as
    net  charge-offs divided by liquidation. Liquidation  is
    defined  as  beginning receivable balance  plus  current
    period  purchases  minus  voids  and  refinances   minus
    ending receivable balance.

(9) Net  charge-off  percentage represents  net  charge-offs
    divided  by average finance receivables, net of unearned
    interest, outstanding during the period.

                         ##  More ##
<PAGE> 8


The  following tables present certain information  regarding
delinquency rates experienced by the Company with respect to
Contracts and under its direct loan program.

<TABLE>
<CAPTION>

                                    At December 31,
                                  2004          2003
                        -------------------------------------
<S>                  <C> <C>     <C>    <C>  <C>    <C>
Contracts
Gross Balance
 Outstanding             $165,583,890         $143,113,043

Delinquencies

30 to 59 days         $3,056,372   1.85%  $2,836,531  1.98%
60 to 89 days            706,221   0.43%     805,643  0.56%
90 + days                327,077   0.19%     247,261  0.17%
                      ----------   -----  ----------  -----
Total Delinquencies   $4,089,670   2.47%  $3,889,435  2.71%


Direct Loans
Gross Balance
 Outstanding               $5,583,074           $4,536,172

Delinquencies

30 to 59 days            $61,980   1.11%     $37,451     0.83%
60 to 89 days             16,758   0.30%      33,612     0.74%
90  +  days               27,475   0.49%      30,354     0.67%
                         -------   -----     -------     -----
Total  Delinquencies   $ 106,213   1.90%   $ 101,417     2.24%

</TABLE>

The amounts shown in the tables below represent the amount of
Contracts purchased,  net of unearned interest.

<TABLE>
<CAPTION>

               Three months ended       Nine months ended
                   December 31,           December 31,
  State          2004        2003        2004         2003
  ------------------------------------------------------------
  <S>       <C>         <C>         <C>          <C>
    FL      $10,121,741  $8,226,294  $30,643,243  $27,210,545
    GA        1,238,711   1,802,773    5,547,869    6,384,776
    NC        2,081,482   1,581,909    6,577,416    5,548,857
    SC          781,675     664,595    2,847,066    2,144,234
    OH        2,064,868   2,267,575    8,635,938    8,453,317
    MI          412,137     597,254    2,225,223    1,665,511
    VA        1,400,228     438,850    4,270,114      611,901
    KY          234,820           -      234,820            -
    MD          414,908           -      414,908            -
    ----------------------------------------------------------
    Total   $18,750,570 $15,579,250  $61,396,597  $52,019,141
    ==========================================================

</TABLE>


<TABLE>
<CAPTION>
                   Three months ended         Nine months ended
                       December 31,              December 31,
Contracts           2004         2003         2004         2003
--------------------------------------------------------------------
<S>             <C>          <C>          <C>          <C>
Purchases        $18,750,570  $15,579,250  $61,396,597  $52,019,141
Weighted APR          23.65%       23.66%       23.90%       23.88%
Average Discount       8.73%        8.80%        8.72%        8.91%
Average Term(months)      45           43           44           43
Average Loan          $8,504       $8,110       $8,382       $8,128
Number of Contracts    2,205        1,921        7,325        6,400
--------------------------------------------------------------------

</TABLE>
                         ##  End ##
[{"type": "8-K", "sequence": "1", "filename": "r8k-0105.txt", "secsgml_size_bytes": 17378}]
{"company-data": {"conformed-name": "NICHOLAS FINANCIAL INC", "cik": "0001000045", "assigned-sic": "6153", "irs-number": "593019317", "state-of-incorporation": "FL", "fiscal-year-end": "0331"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "000-26680", "film-number": "05552584"}, "business-address": {"street1": "2454 MCMILLEN BOOTH RD", "street2": "BLDG C 501 B", "city": "CLEARWATER", "state": "FL", "zip": "33759", "phone": "8137260763"}, "mail-address": {"street1": "2454 MCMULLEN BOOTH RD", "street2": "BLDG C SUITE 501B", "city": "CLEARWATER", "state": "FL", "zip": "33759"}}
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
                     Washington, DC  20549

                           FORM 8-K

                       CURRENT REPORT

           PURSUANT TO SECTION 13 OR 15(d) OF THE
               SECURITIES EXCHANGE ACT OF 1934

   Date of Report (Date of earliest event reported) January
                          27, 2005

                   NICHOLAS FINANCIAL, INC.
    (Exact name of registrant as specified in its Charter)

   British Columbia, Canada    0-26680          8736-3354
  (State or Other Jurisdiction of(Commission (I.R.S. Employer
  Incorporation or Organization)File Number) Identification No.)

  2454 McMullen Booth Road, Building C
    Clearwater, Florida                           33759
  (Address of Principal Executive Offices)      (Zip Code)

                        (727) 726-0763
     (Registrant's telephone number, Including area code)

                        Not applicable
    (Former name, former address and former fiscal year, if
                 changed since last report)
2

Item 2.02   Results of Operations and Financial Condition

Clearwater,  Florida, - January 27, 2005: Nicholas Financial,  Inc.
(NASDAQ,  NICK), today announced record revenues,  net  income  and
earnings  per share for the three months ended December  31,  2004.
Revenues  for  the third quarter ended December 31, 2004  increased
34%  to  $8,541,000  compared to $6,385,000 for the  quarter  ended
December  31,  2003. Net income for the quarter  increased  70%  to
$2,214,000  from $1,306,000 last year. Earnings per share  for  the
quarter increased 33% to $0.32 per share from $0.24 per share  last
year.  The  Company has reported record same quarter  increases  in
revenues and earnings for 57 out of the past 58 quarters.

Item 9.01      Financial Statements and Exhibits

Exhibit #      Description

 9       Press release dated January 27, 2005, announcing
          record earnings for the third quarter ended
          December 31, 2004.
3

                         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.

                  NICHOLAS FINANCIAL, INC.
                        (Registrant)

  Date: January 27, 2005        /s/ Peter L. Vosotas
                                Peter L. Vosotas
                                Chairman, President,
                                Chief Executive Officer
                                (Principal Executive Officer)

  Date: January 27, 2005        /s/ Ralph T. Finkenbrink
                                Ralph T.  Finkenbrink
                                (Principal Financial
                                 Officer and Accounting
                                 Officer)
4

Exhibit Index

Exhibit     Description

 9       Press release dated January 27, 2005, announcing
          record earnings for the third quarter ended
          December 31, 2004.
5

                         FOR IMMEDIATE RELEASE

Nicholas Financial, Inc.
Corporate Headquarters

2454 McMullen-Booth Rd.
Building C, Suite 501
Clearwater, FL 33759

Contact:  Ralph Finkenbrink
          Sr. Vice President, CFO
NASDAQ:   NICK
Web site: www.nicholasfinancial.com
Ph # :    727-726-0763

  Nicholas Financial Reports Record 3rd Quarter Results & Expands
                           into Kentucky

Clearwater,  Florida, - January 27, 2005: Nicholas Financial,  Inc.
(NASDAQ,  NICK), today announced record revenues,  net  income  and
earnings  per share for the three months ended December  31,  2004.
Revenues  for  the third quarter ended December 31, 2004  increased
34%  to  $8,541,000  compared to $6,385,000 for the  quarter  ended
December  31,  2003. Net income for the quarter  increased  70%  to
$2,214,000  from $1,306,000 last year. Earnings per share  for  the
quarter increased 33% to $0.32 per share from $0.24 per share  last
year.  The  Company has reported record same quarter  increases  in
revenues and earnings for 57 out of the past 58 quarters.

For the nine months ended December 31, 2004, revenues increased 27%
to  $23,651,000 compared to $18,590,000 for the nine  months  ended
December  31, 2003. Net income for the nine-month period  increased
54%  to  $5,712,000 from $3,721,000 last year. Earnings  per  share
increased  25% to $0.86 per share compared to $0.69 per share  last
year.

During  the 3rd quarter, the Company opened its first branch office
in the state of Kentucky. The branch office is located in Florence,
Kentucky.

Founded  in  1985, with assets of $114,029,000 as of  December  31,
2004,  Nicholas  Financial, Inc. is one  of  the  largest  publicly
traded specialty consumer finance companies based in the Southeast.
The  Company presently operates out of 35 branch locations in  both
the   Southeast   and  the  Mid-West  States.   The   Company   has
approximately 6,550,000 shares of common stock outstanding. For  an
index  of  Nicholas Financial Inc.'s news releases or to  obtain  a
specific release, visit our web site at www.nicholasfinancial.com.

Except for the historical information contained herein,  the
matters  discussed  in  this news release  include  forward-
looking  statements  that  involve risks  and  uncertainties
including competitive factors, the management of growth, and
other  risks  detailed from time to time  in  the  Company's
filings   and  reports  with  the  Securities  and  Exchange
Commission including the Company's Annual Report on Form 10-
KSB  for the year ended March 31, 2004. Such statements  are
based on the beliefs of the Company's management as well  as
assumptions  made by and information currently available  to
Company  management.  Actual events or  results  may  differ
materially.

                         ##  More ##
6

 Nicholas Financial, Inc.

              Consolidated Income Statements
(Unaudited, Dollars in Thousands, Except Per Share Amounts)
Three Months Ended  Nine Months Ended
                        December 31,      December 31,
                       2004      2003      2004      2003
                   ------------------------------------------
Revenue:
Finance charge
 income             $   8,485    $ 6,335   $ 23,496   $ 18,397
Other income               56         50        155        193
                    -------------------------------------------
                        8,541      6,385     23,651     18,590

Costs and expenses:
Operating expenses      3,506      2,700      9,930      8,090
Provision for losses      566        633      1,806      1,617
Interest expense          909        950      2,720      2,906
                     ------------------------------------------
                        4,981      4,283     14,456     12,613

Income before
 income taxes           3,560      2,102      9,195      5,977
                     ------------------------------------------
Income tax provision    1,346        796      3,483      2,256

Net income           $  2,214    $ 1,306   $  5,712   $  3,721
                    ===========================================
Earnings per share:
 Basic               $    .34    $   .26   $    .92   $    .74
                    ===========================================
 Diluted             $    .32    $   .24   $    .86   $    .69
                    ===========================================

Weighted
 average shares     6,514,634  5,064,623  6,227,129  5,036,730
                    ===========================================
Weighted average
shares and assumed
  dilution          6,929,919  5,438,989  6,629,730  5,395,815
                    ===========================================
Condensed Consolidated Balance Sheets
(Unaudited, Dollars in Thousands)
                          December 31,      March 31,
                              2004            2004
                      ----------------------------------------
Cash                       $    1,494      $       958
Finance receivables, net      106,989           97,237
Other assets                    5,546            5,028
                            ---------         --------
 Total assets                $114,029         $103,223
                            =========         ========

Line of credit               $ 62,208         $ 67,510
Other notes payable             1,552            1,593
Other liabilities               6,460            6,674
                            ---------        ---------
 Total liabilities             70,220           75,777

Shareholders' equity           43,809           27,446
                            ---------        ---------
Total liabilities and
 Shareholders' equity        $114,029         $103,223
                            =========        =========
##  More ##
7
Three months ended         Nine months ended
                                      December 31,               December 31,
Portfolio Summary                  2004         2003          2004         2003
                            --------------------------------------------------------
Average finance receivables,
net of unearned interest(1)    $130,157,442  $112,338,303  $127,149,953 $110,248,781
                               ======================================================
Average indebtedness (2)        $63,908,352   $66,328,452   $63,564,709  $64,243,278
                               ======================================================
Finance revenue (3)              $8,484,354    $6,334,652   $23,495,609  $18,397,452

Interest expense                    909,468       950,109     2,719,551    2,905,747
                                -----------------------------------------------------
Net finance revenue              $7,574,886    $5,384,543   $20,776,058  $15,491,708
                                =====================================================
Weighted average
contractual rate (4)                 23.65%        23.85%        23.90%       24.02%
                                =====================================================
Average cost of
borrowed funds(2)                     5.69%         5.73%         5.70%        6.03%
                                =====================================================

Gross portfolio yield (5)            26.07%        22.56%        24.63%       22.25%

Interest expense as a
percentage of average finance
receivables, net of unearned
interest                              2.79%         3.38%         2.85%        3.51%

Provision for credit losses as
a percentage of average finance
receivables, net of unearned
interest                              1.74%         2.25%         1.89%        1.96%
                                -----------------------------------------------------
Net portfolio yield (5)              21.54%        16.93%        19.89%       16.78%

Operating expenses as a
percentage of average finance
receivables, net of unearned
interest (6)                         10.60%         9.39%        10.25%        9.51%
                                -----------------------------------------------------

Pre-tax yield as a percentage
of average finance receivables,
net of unearned interest (7)         10.94%         7.54%         9.64%        7.27%
                                =====================================================

Write-off to liquidation (8)          7.45%         9.64%         6.99%        9.12%

Net charge-off percentage (9)         6.52%         8.11%         6.03%        7.79%
Note:  All  three and nine month key performance  indicators
    expressed as percentages have been annualized.

(1) Average  finance receivables, net of unearned  interest,
    represents  the  average of gross  finance  receivables,
    less unearned interest throughout the period.

(2) Average  indebtedness represents the average outstanding
    borrowings  under  the  Line and  notes  payable-related
    party.    Average  cost  of  borrowed  funds  represents
    interest   expense   as   a   percentage   of    average
    indebtedness.

(3) Finance  revenue does not include revenue  generated  by
    Nicholas  Data Services, Inc., ("NDS") the  wholly-owned
    software subsidiary of Nicholas Financial, Inc.

(4) Weighted   average  contractual  rate   represents   the
    weighted  average annual percentage rate  (APR)  of  all
    Contracts  purchased and direct loans originated  during
    the period.

(5) Gross portfolio yield represents finance revenues  as  a
    percentage  of  average  finance  receivables,  net   of
    unearned   interest.  Net  portfolio  yield   represents
    finance  revenue minus (a) interest expense and (b)  the
    provision  for credit losses as a percentage of  average
    finance receivables, net of unearned interest.

(6) Operating   expenses  represent  total  expenses,   less
    interest  expense, the provision for credit  losses  and
    operating costs associated with NDS.

(7) Pre-tax  yield  represents  net  portfolio  yield  minus
    operating  expenses as a percentage of  average  finance
    receivables, net of unearned interest.

(8) Write-off  to  liquidation  percentage  is  defined   as
    net  charge-offs divided by liquidation. Liquidation  is
    defined  as  beginning receivable balance  plus  current
    period  purchases  minus  voids  and  refinances   minus
    ending receivable balance.

(9) Net  charge-off  percentage represents  net  charge-offs
    divided  by average finance receivables, net of unearned
    interest, outstanding during the period.

                         ##  More ##
8

The  following tables present certain information  regarding
delinquency rates experienced by the Company with respect to
Contracts and under its direct loan program.
At December 31,
                                  2004          2003
                        -------------------------------------
Contracts
Gross Balance
 Outstanding             $165,583,890         $143,113,043

Delinquencies

30 to 59 days         $3,056,372   1.85%  $2,836,531  1.98%
60 to 89 days            706,221   0.43%     805,643  0.56%
90 + days                327,077   0.19%     247,261  0.17%
                      ----------   -----  ----------  -----
Total Delinquencies   $4,089,670   2.47%  $3,889,435  2.71%

Direct Loans
Gross Balance
 Outstanding               $5,583,074           $4,536,172

Delinquencies

30 to 59 days            $61,980   1.11%     $37,451     0.83%
60 to 89 days             16,758   0.30%      33,612     0.74%
90  +  days               27,475   0.49%      30,354     0.67%
                         -------   -----     -------     -----
Total  Delinquencies   $ 106,213   1.90%   $ 101,417     2.24%
The amounts shown in the tables below represent the amount of
Contracts purchased,  net of unearned interest.
Three months ended       Nine months ended
                   December 31,           December 31,
  State          2004        2003        2004         2003
  ------------------------------------------------------------
FL      $10,121,741  $8,226,294  $30,643,243  $27,210,545
    GA        1,238,711   1,802,773    5,547,869    6,384,776
    NC        2,081,482   1,581,909    6,577,416    5,548,857
    SC          781,675     664,595    2,847,066    2,144,234
    OH        2,064,868   2,267,575    8,635,938    8,453,317
    MI          412,137     597,254    2,225,223    1,665,511
    VA        1,400,228     438,850    4,270,114      611,901
    KY          234,820           -      234,820            -
    MD          414,908           -      414,908            -
    ----------------------------------------------------------
    Total   $18,750,570 $15,579,250  $61,396,597  $52,019,141
    ==========================================================
Three months ended         Nine months ended
                       December 31,              December 31,
Contracts           2004         2003         2004         2003
--------------------------------------------------------------------
Purchases        $18,750,570  $15,579,250  $61,396,597  $52,019,141
Weighted APR          23.65%       23.66%       23.90%       23.88%
Average Discount       8.73%        8.80%        8.72%        8.91%
Average Term(months)      45           43           44           43
Average Loan          $8,504       $8,110       $8,382       $8,128
Number of Contracts    2,205        1,921        7,325        6,400
--------------------------------------------------------------------
##  End ##