8-K

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 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): June 22, 2005

THE THAXTON GROUP, INC.

(Exact Name of Registrant as Specified in Charter)

South Carolina

(State or Other Jurisdiction of Incorporation)

000-27086	57-0669498
(Commission File Number)	(I.R.S. Employer Identification No.)
1524 Pageland Highway, Lancaster, South Carolina	29720
(Address of Principal Executive Offices)	(Zip Code)

Registrant’s telephone number, including area code: (803) 285-4337

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 Securities and 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 8.01. Other Events

The Company is hereby filing its Bankruptcy Report for May 1 through May 31, 2005, which was filed with the Bankruptcy Court on June 22, 2005.

Item 9.01. Financial Statements and Exhibits

(c) Exhibits

Exhibit No.	Description
99.1	Operating Report for the period May 1, 2005, through May 31, 2005, filed with the U.S. Bankruptcy Court for the District of Delaware on June 22, 2005.

2

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this current report on Form 8-K to be signed on its behalf by the undersigned hereunto duly authorized.

THE THAXTON GROUP, INC.
By:	/s/ Robert R. Dunn
	Robert R. Dunn President and Chief Restructuring Officer

Dated: June 30, 2005

3

EX-99.1

Exhibit 99.1

United States Bankruptcy Court

District of Delaware

In re    THE THAXTON GROUP	Case No.                         03-13182 - 03-13213
	Jointly Administered
	Reporting Period:                               May-05

Monthly Operating Report

File report and attachments with Court and submit copy to United States Trustee within

20 days after end of month.

REQUIRED DOCUMENTS	Form No.	Document Attached	Explanation Attached
Schedule of Cash Receipts and Disbursements	MOR-1	X
Bank reconciliation ( or copies of Debtor’s bank reconciliations	MOR-1 (CON’T)	X
Copies of bank statements			X
Cash disbursements journals		X
Statement of Operations	MOR-2	X
Balance Sheet	MOR-3	X
Status of Postpetition Taxes	MOR-4	X
Copies of IRS Form 6123 or payment receipt			X
Copies of tax returns filed during reporting period		X
Summary of Unpaid Postpetition Debts	MOR-4	X
Listing of aged accounts payable		X
Accounts Receivable Reconciliations and Aging	MOR-5	X
Debtor Questionnaire	MOR-5	X

I declare under penalty of perjury (28 U.S.C. Section 1746) that this report and the documents attached are true and correct to the best of my knowledge and belief.

Signature of Debtor	Date
Signature of Joint Debtor	Date
/s/ Robert Dunn	6/21/05
Signature of Authorized Individual*	Date
Robert Dunn	President and Chief Restructuring Officer
Printed Name of Authorized Individual	Title of Authorized Individual

* Authorized individual must be an officer, director or shareholder if debtor is a corporation; a partner if debtor is a partnership; a manager or member if debtor is a limited liability company.

FORM IR

(9/99)

BANKRUPTCY CASE NUMBERS PER ENTITY

included in this filing

THE THAXTON GROUP

03-13182 - 03-13213	May 31, 2005
FED ID	Case Number
57-0669498	03-13183	The Thaxton Group
57-1083679	03-13184	Thaxton Operating Company
54-0925005	03-13185	EAGLE Premium Finance Company, Inc.
58-2358369	03-13186	TICO Premium Finance Company, Inc.
57-0926039	03-13187	Thaxton Insurance Group, Inc.
57-1067973	03-13188	Thaxton Commercial Lending, Inc.
56-2258083	03-13195	TICO Credit Corporation
58-2358372	03-13191	TICO Credit Company, Inc.
56-2058522	03-13193	TICO Credit Company of North Carolina, Inc.
57-1109035	03-13196	TICO Credit Company of Alabama, Inc.
62-1720278	03-13197	TICO Credit Company of Tennessee, Inc.
57-1111184	03-13198	TICO Credit Company of Mississippi, Inc.
57-1110723	03-13199	TICO Credit Company of Georgia, Inc.
31-4256360	03-13200	Modern Finance dba TICO Credit Company
31-0819992	03-13202	Modern Financial Services, Inc.
74-2873274	03-13182	TICO Credit Company
64-0560143	03-13201	TICO Credit Company
75-2714829	03-13203	TICO Credit Company
57-1129678	03-13194	TICO Credit Company of Virginia, Inc.
57-1076628	03-13204	Thaxton Investment Corporation
57-0997623	03-13205	Southern Management Corporation
62-1618281	03-13206	Southern Finance of Tennessee, Inc.
57-1002963	03-13211	Covington Credit of Texas, Inc.
57-1013036	03-13207	Southern Financial Management, Inc.
57-1094987	03-13208	Covington Credit, Inc.
58-1435012	03-13209	Covington Credit of Georgia, Inc.
57-0827143	03-13212	Southern Finance of South Carolina, Inc.
57-0857420	03-13213	Quick Credit Corporation, Inc.
57-1096371	03-13210	Covington Credit of Louisiana, Inc.
56-2057616	03-13189	Paragon, Inc.
27-9200069	03-13190	Modern Central Recovery

In re:	Case No.	03-13182-03-13213
THE THAXTON GROUP	Jointly Administered
SEE ATTACHED SCHEDULES	Reporting Period	May-05

SCHEDULE OF CASH RECEIPTS AND DISBURSEMENTS

Consolidated - for information purposes only

Amounts reported should be per the debtor’s books, not the bank statements. The beginning cash should be the ending cash the prior month or, if this is the first report, the amount should be the balance on the date the petition was filed. The amounts reported in the “CURRENT MONTH - ACTUAL” column must equal the sum of the four bank account columns. The amounts reported in the “PROJECTED” columns should be taken from the SMALL BUSINESS INITIAL REPORT (FORM IR-1). Attach copies of the bank statements and the cash disbursements journal. The total disbursements journal must equal the total disbursements reported on this page. A bank reconciliation must be attached for each accounts. [See Mor-1 (Con’t)]

	Bank Accounts					Current Month				Cumulative Filing to Date
	Operating		Payroll	Tax	Other	Actual		Projected		Actual	Projected
Cash Beginning of Month	47,265,172		—			47,265,172		35,895,777		20,970,070	19,402,924
Receipts
Cash Sales
Accounts Receivable	9,421,071					9,421,071		7,550,000		283,625,970	260,836,238
Interest Income/Other Income	189,298					189,298				6,473,149	1,221,000
Additional Deposits/Tax Withheld						—				—	—
Other (Attach List)	—					—				46,302,400	—
Transfers between Accounts	(2,582,673	)	2,582,673			(0	)			0	—
Proceeds from the Sale of Assets
										—	—
Total Receipts	7,027,696		2,582,673	—	—	9,610,369		7,550,000		336,401,520	262,057,238
Disbursements
Gross Payroll/Payroll Taxes			2,582,673			2,582,673		1,650,500		47,688,505	47,867,445
Sales, Use & Other Taxes	15,453					15,453				1,299,002	—
Inventory Purchases						—				—	—
Secured/Rental/Leases	192,196					192,196				1,141,043	—
Insurance/Payroll WH paid from operating accounts	(2,381	)				(2,381	)			111,673	—
Marketing						—				—	—
Property Maintenance/Utilities						—				—	—
Other (Attach List)	3,995,738					3,995,738		2,433,110		52,852,126	38,801,963
						—				—
Loan Proceeds/Expenses Related To Loans/Insurance	5,638,585					5,638,585		6,100,000		137,755,884	138,117,824
						—				—
Deposits to Lenders	20,012,641					20,012,641				72,082,663	2,500,000
Professional fees - Carve-out	1,954,314					1,954,314		899,850		21,434,571	18,861,863
US Trustee Quarterly Fees	71,000					71,000		—		590,801	478,250
Court Costs						—				—
Proceeds to Lender for sale of business units					—
Fees associated with sale of business units					—
										—
Total Disbursements	31,877,546		2,582,673	—	—	34,460,219		11,083,460		334,956,269	246,627,345
Net Cash Flow
(Receipts less Disbursements)	(24,849,850	)	—	—	—	(24,849,850	)	(3,533,460	)	1,445,251	15,429,893
Cash - End of Month	22,415,322		—	—	—	22,415,322		32,362,317		22,415,321	34,832,817

* COMPENSATION TO SOLE PROPRIETORS FOR SERVICES RENDERED TO BANKRUPTCY ESTATE

THE FOLLOWING SECTION MUST BE COMPLETED

Disbursements for calculating US Trustee Quarterly Fees: (From Current Month Actual Column)
Total Disbursements	0
Less: Transfers to Debtor in Possession Accounts
Plus: Estate Disbursements made by outside sources (i.e. from escrow accounts)
Total Disbursements for calculating US Trustee Quarterly Fees	0

FORM MOR-1

THE THAXTON GROUP CONSOLIDATED

Week Ending	BUDGET 5/6			BUDGET 5/13			BUDGET 5/20			BUDGET 5/27			BUDGET MONTH APR
Beginning Cash	$	35,895,777		$	35,748,290		$	34,483,227		$	33,419,757		$	35,895,777
Cash Receipts
TICO Cash Collected		—			—			—			—			—
SM Cash Collected		2,100,000			1,500,000			1,700,000			2,250,000			7,550,000
TIG Cash Collected		—			—			—			—			—
TPF Cash Collected		—			—			—			—			—
TCL Cash Collected		—			—			—			—			—
Other Income Collected		—			—			—			—			—
		—			—			—			—			—
Total Cash Receipts		2,100,000			1,500,000			1,700,000			2,250,000			7,550,000
														—
														—
Cash Disbursements														—
Loan Proceeds Checks		1,300,000			1,300,000			1,300,000			1,800,000			5,700,000
Expenses related to Loans		130,000			100,000			80,000			90,000			400,000
Expenses related to TIG		—			—			—			—			—
Total Cash Disbursements		1,430,000			1,400,000			1,380,000			1,890,000			6,100,000
														—
NET CASH RECEIPTS		670,000			100,000			320,000			360,000			1,450,000
														—
CASH DISBURSEMENTS:														—
														—
Operating Cash Disbursements														—
														—
Advertising		25,000			25,000			35,000			35,000			120,000
Bank Charges		—			32,750			—			—			32,750
Claims Funding*		25,000			70,000			40,000			40,000			175,000
Company Auto		20,000			1,500			1,900			1,500			24,900
Computer Costs		8,125			1,500			4,625			5,000			19,250
Dues And Subscriptions		1,000			2,000			—			1,000			4,000
Employee Reimbursements - collections exp		3,750			3,250			3,250			3,250			13,500
Equipment Rental		—			3,000			2,500			3,000			8,500
Fixed Assets		15,000			15,000			15,000			20,000			65,000
Forms & Printing		18,000			—			35,150			—			53,150
Insurance		2,300			30,500			500			500			33,800
Meals & Entertainment		10,000			2,000			2,000			1,075			15,075
Miscellaneous		16,000			3,000			3,000			3,000			25,000
Office Expense		4,000			4,000			4,000			7,000			19,000
Postage		8,200			8,200			8,200			8,200			32,800
Prepaid Expenses		—			—			—			—			—
Prepaid Software ABS		20,000			12,000			—			—			32,000
Professional Fees-Ordinary Course		20,000			15,000			90,000			15,000			140,000
Rent		2,000			9,600			7,000			180,500			199,100
Repairs & Maintenance		4,000			5,250			4,000			4,250			17,500
Roadgard		—			—			—			—			—
Seminars & Meetings		4,000			4,000			4,000			4,000			16,000
Taxes & Licenses		5,100			57,000			—			—			62,100
Telephone		31,500			10,000			30,000			31,500			103,000
Temporary Agency Staff		3,050			3,050			3,050			3,050			12,200
Board of Directors		4,000			—			—			—			4,000
Travel		17,000			500			500			500			18,500
Utilities		11,000			12,500			11,250			11,000			45,750
Total Operating Cash Disbursements		278,025			330,600			304,925			378,325			1,291,875
														—
Total Cash Disbursements by Group														—
Corporate		35,225			35,600			102,925			34,825			208,575
Tico Credit		—			—			—			—			—
Southern Management		242,800			295,000			202,000			343,500			1,083,300
Thaxton Premium Finance		—			—			—			—			—
Thaxton Commercial Lending		—			—			—			—			—
Thaxton Insurance Group		—			—			—			—			—
Total Operating Cash Disbursements		278,025			330,600			304,925			378,325			1,291,875
														—
Other Items														—
														—
Interest to Finova		—			—			504,083			—			504,083
Payroll Paid TTG		—			35,000			—			35,000			70,000
Payroll Paid SMC		—			645,000			250,000			635,000			1,530,000
401K		45,000			—			—			5,500			50,500
Restructuring Officer		12,000			12,000			12,000			12,000			48,000
Insurance Renewal		—			—			—			—			—
Credit Insurance Carrier		180,000			95,000			90,000			100,000			465,000
Pre-Filing Prepays		—			—			—			—			—
Bank Fees and Expenses		—			20,000			—			—			20,000
Deposit to Lender		—			—			—			—			—
Special Litigation Expense		—			—			—			—			—
KERP		—			—			—			—			—
US Trustee		75,000			—			—			—			75,000
Bankruptcy Professionals		227,463			227,463			222,463			222,463			899,850
Total Other Items		539,463			1,034,463			1,078,546			1,009,963			3,662,433
														—
Cash from Operations														—
Total Collections		2,100,000			1,500,000			1,700,000			2,250,000			7,550,000
Total Disbursements		1,933,025			2,525,600			2,529,008			3,043,825			10,031,458
Net Cash from Operations		166,975			(1,025,600	)		(829,008	)		(793,825	)		(2,481,458	)
Restructuring Expense		(314,463	)		(239,463	)		(234,463	)		(234,463	)		(1,022,850	)
Net Change in Cash		(147,488	)		(1,265,063	)		(1,063,471	)		(1,028,288	)		(3,504,308	)
Adjustment due to New Budget Period														—
Ending Cash		35,748,290			34,483,227			33,419,757			32,391,469			32,391,469

THE THAXTON GROUP MONTHLY OPERATING REPORT - May 2005

THE THAXTON GROUP
Cash Disbursements for THE THAXTON GROUP - Consolidated	FOR INFORMATION PURPOSES ONLY	JOINTLY ADMINISTERED
Monthly Court Report for April-05

			HOLDING COMPANY		HOLDING COMPANY						HOLDING COMPANY
	Consolidated Totals		THAXTON GROUP, INC Corporate		Thaxton Operating Company All activity recorded at sub level	Eagle - All transactions included in Tico Premium	Thaxton Insurance Group	Thaxton Commercial Lending	Tico Premium		Thaxton Investment Corporation All activity recorded at sub level	Southern Management Corporation Consolidated		Tico Credit Corporation Consolidated
Beginning Cash Position	47,265,171.91		46,132,419.22		—	—	—	—	(7,600.17	)		1,180,327.19		(39,974.33	)
					—
TICO Cash Collected	20,737.36		—			—	—	—	—			—		20,737.36
SM Cash Collected	9,400,333.39		—			—	—	—	—			9,400,333.39		—
TIG Cash Collected	—		—			—	—	—	—			—		—
TPF Cash Collected	—		—			—	—	—	—			—		—
TCL Cash Collected	—		—			—	—	—	—			—		—
Other Income Collected	189,298.45		188,521.58			—	—	—	—			163.43		613.44
Proceeds from the sales of the TICO Assets	—		—
SUBTOTAL	9,610,369.20		188,521.58		—	—	—	—	—		—	9,400,496.82		21,350.80
			—			—	—	—	—			—		—
	—					—		—	—			—		—
CORRECTION OF BEGINNING BALANCES	—		—			—	—	—	—			—		—
GENERAL LEDGER DEPOSITS AND TRANSFERS	(0.02	)	413,444.56			—	—	—	3,066.88			(429,159.80	)	12,648.34
	—		—			—	—	—	—			—		—
	—					—		—	—			—		—
Total Cash Receipts and Transfers	9,610,369.18		601,966.14		—	—	—	—	3,066.88		—	8,971,337.02		33,999.14
						—	—	—	—			—		—
Cash Disbursements - Loans	—					—	—	—	—			—		—
	—					—	—	—	—			—		—
Loan Proceeds Checks	5,377,315.95		—			—	—	—	—			5,377,315.95		—
Expenses related to Loans\Thaxton Insurance Group	261,269.33		—			—	—	—	—			262,733.93		(1,464.60	)
Subtotal - Loans	5,638,585.28		—		—	—	—	—	—			5,640,049.88		(1,464.60	)
			—			—	—	—	—			—		—
Cash Disbursements - Other	—		—			—	—	—	—			—		—
Advertising	97,245.35		—			—	—	—	—			97,245.35		—
Bank Charges	25,394.57		135.80			—	—	—	—			25,258.77		—
Claims Funding*	195,235.62		—			—	—	—	—			195,235.62		—
Company Auto	3,682.70		—			—	—	—	—			3,682.70		—
Computer Costs	16,744.63		3,122.12			—	—	—	1,050.00			12,231.51		341.00
Dues And Subscriptions	1,231.00		—			—	—	—	—			1,231.00		—
Employee Reimbursements - collections exp	272.71		—			—	—	—	—			—		272.71
Equipment Rental	3,340.29		—			—	—	—	—			3,340.29		—
Fixed Assets	18,895.99		—			—	—	—	—			18,895.99		—
Forms & Printing	55,471.83		(516.66	)		—	—	—	—			55,988.49		—
Insurance	(2,381.34	)	(4,249.57	)		—	—	—	—			1,868.23		—
Meals & Entertainment	9,539.81		—			—	—	—	—			9,539.81		—
Miscellaneous	28,677.99		1,033.89			—	—	—	—			27,644.10		—
Office Expense	9,784.12		551.37			—	—	—	—			9,232.75		—
Postage	34,671.62		229.80			—	—	—	—			34,210.24		231.58
Prepaid Expenses	—		—			—	—	—	—			—		—
Prepaid Software ABS	20,083.64		—			—	—	—	—			20,083.64		—
Professional Fees-Ordinary Course	36,375.24		19,702.58			—	—	—	—			15,273.35		1,399.31
Rent	192,195.85		6,041.00			—	—	—	—			185,334.85		820.00
Repairs & Maintenance	17,994.74		—			—	—	—	—			17,994.74		—
Seminars & Meetings	4,593.85		—			—	—	—	—			4,593.85		—
Taxes & Licenses	15,453.14		820.17			—	—	—	—			14,614.84		18.13
Telephone	98,544.28		492.35			—	—	—	—			98,051.93		—
Temporary Agency Staff	14,861.98		1,070.00			—	—	—	—			13,708.25		83.73
Travel	32,826.14		165.13			—	—	—	—			32,661.01		—
Utilities	32,396.60		264.53			—	—	—	—			32,285.10		(153.03	)
Interest to Finova	538,471.14		538,471.14			—	—	—	—			—		—
Payroll Paid TTG	88,316.02		57,806.23			—	—	—	—			—		30,509.79
Payroll Paid SMC	2,494,357.21		—			—	—	—	—			2,494,357.21		—
Restructuring Officer	48,000.00		48,000.00			—	—	—	—			—		—
Credit Insurance Payments	352,984.70		—			—	—	—	—			352,984.70		—
Deposit to Lender	20,012,641.11		20,012,641.11			—	—	—	—			—		—
US Trustee	71,000.00		71,000.00			—	—	—	—			—		—
Bankruptcy Professionals	1,954,313.92		1,954,313.92			—	—	—	—			—		—
Other	146,685.78		114,583.22			—	—	—	—			32,102.56		—
Total Other Cash Disbursements	26,819,109.62		22,933,871.13		—	—	—	—	1,050.00			3,850,665.27		33,523.22
						—			—			—		—
TOTAL ALL CASH DISBURSEMENTS	32,457,694.90		22,933,871.13		—	—	—	—	1,050.00			9,490,715.15		32,058.62
	24,417,846.19		23,800,514.23		—	—	—	—	(5,583.29	)		660,949.06		(38,033.81	)
BANK ACCOUNT RECONCILED BALANCES:	24,417,846.21		23,800,514.23				—	—	(5,583.29	)		660,949.08		(38,033.81	)

I attest that the above bank statement balances are the actual bank statement balances as shown on the individual bank statements and that all of the bank statements have been reconciled to the general ledger balance

Any differences between the consolidating balance sheet cash and the cash summary are due to additional amounts of petty cash, cash in cash drawers and timing differences.

/s/ Robert Dunn

Signature

Robert Dunn        6/21/05

Name and Date

President and Chief Restructuring Officer

Title

THE THAXTON GROUP
Cash Disbursements for THE THAXTON GROUP - Consolidated	JOINTLY ADMINISTERED
Monthly Court Report for	CASES 03-13182 - 03-13213

		Operating		Payroll	Other	Total
Beginning Cash Position		47,265,171.91			—	47,265,171.91
TICO Cash Collected		20,737.36		—	—	20,737.36
SM Cash Collected		9,400,333.39		—	—	9,400,333.39
TIG Cash Collected		—		—	—	—
TPF Cash Collected		—		—	—	—
TCL Cash Collected		—		—	—	—
Other Income Collected		189,298.45		—	—	189,298.45
		—		—	—	—
Proceeds from the sales of the TICO Assets		—		—	—	—
SUBTOTAL	—	9,610,369.20		—	—	9,610,369.20
		—		—	—	—
		—		—	—	—
CORRECTION OF BEGINNING BALANCES		—		—	—	—
GENERAL LEDGER DEPOSITS AND TRANSFERS		(2,582,673.25	)	2,582,673.23	—	(0.02	)
		—		—	—	—
		—		—	—	—
Total Cash Receipts and Transfers	—	7,027,695.95		2,582,673.23	—	9,610,369.18
Cash Disbursements - Loans
Loan Proceeds Checks		5,377,315.95				5,377,315.95
Expenses related to Loans\Thaxton Insurance Group		261,269.33				261,269.33
Subtotal - Loans		5,638,585.28		—	—	5,638,585.28
		—
Cash Disbursements - Other		—
Advertising		97,245.35			—	97,245.35
Bank Charges		25,394.57		—	—	25,394.57
Claims Funding*		195,235.62			—	195,235.62
Company Auto		3,682.70		—	—	3,682.70
Computer Costs		16,744.63		—	—	16,744.63
Dues And Subscriptions		1,231.00		—	—	1,231.00
Employee Reimbursements - collections exp		272.71		—	—	272.71
Equipment Rental		3,340.29		—	—	3,340.29
Fixed Assets		18,895.99		—	—	18,895.99
Forms & Printing		55,471.83		—	—	55,471.83
Insurance		(2,381.34	)	—	—	(2,381.34	)
Meals & Entertainment		9,539.81		—	—	9,539.81
Miscellaneous		28,677.99		—	—	28,677.99
Office Expense		9,784.12		—	—	9,784.12
Postage		34,671.62		—	—	34,671.62
Prepaid Expenses		—		—	—	—
Prepaid Software ABS		20,083.64		—	—	20,083.64
Professional Fees-Ordinary Course		36,375.24		—	—	36,375.24
Rent		192,195.85		—	—	192,195.85
Repairs & Maintenance		17,994.74		—	—	17,994.74
Seminars & Meetings		4,593.85		—	—	4,593.85
Taxes & Licenses		15,453.14		—	—	15,453.14
Telephone		98,544.28		—	—	98,544.28
Temporary Agency Staff		14,861.98		—	—	14,861.98
Travel		32,826.14		—	—	32,826.14
Utilities		32,396.60		—	—	32,396.60
Interest to Finova		538,471.14		—	—	538,471.14
Payroll Paid TTG		—		88,316.02	—	88,316.02
Payroll Paid SMC		—		2,494,357.21	—	2,494,357.21
Restructuring Officer		48,000.00		—	—	48,000.00
Credit Insurance Payments		352,984.70		—	—	352,984.70
Deposit to Lender		20,012,641.11		—	—	20,012,641.11
US Trustee		71,000.00		—	—	71,000.00
Bankruptcy Professionals		1,954,313.92		—	—	1,954,313.92
Other		146,685.78		—	—	146,685.78
Total Other Cash Disbursements		24,236,436.39		2,582,673.23	—	26,819,109.62
		—		—	—	—
TOTAL ALL CASH DISBURSEMENTS		29,875,021.67		2,582,673.23	—	32,457,694.90
		24,417,846.19		—	—	24,417,846.19
BANK ACCOUNT RECONCILED BALANCES:

In re:	Case No.	03-13183
The Thaxton Group, Inc.	Jointly Administered
SEE ATTACHED SCHEDULES	Reporting Period	May-05

SCHEDULE OF CASH RECEIPTS AND DISBURSEMENTS

Amounts reported should be per the debtor’s books, not the bank statements. The beginning cash should be the ending cash the prior month or, if this is the first report, the amount should be the balance on the date the petition was filed. The amounts reported in the “CURRENT MONTH - ACTUAL” column must equal the sum of the four bank account columns. The amounts reported in the “PROJECTED” columns should be taken from the SMALL BUSINESS INITIAL REPORT (FORM IR-1). Attach copies of the bank statements and the cash disbursements journal. The total disbursements journal must equal the total disbursements reported on this page. A bank reconciliation must be attached for each accounts. [See Mor-1 (Con’t)]

	Bank Accounts								Current Month				Cumulative Filing to Date
	Operating		Payroll		Tax		Other		Actual		Projected		Actual		Projected
Cash Beginning of Month
Receipts
Cash Sales
Accounts Receivable
Loans and Advances
Sale of Assets
Other (Attach List)
Transfers (From DIP ACCOUNTS)
Total Receipts	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00
Disbursements
Net Payroll
Payroll Taxes
Sales, Use & Other Taxes
Inventory Purchases
Secured/Rental/Leases
Insurance
Administrative
Selling
Other (Attach List)
Owner Draw*
Transfers (To Dip Accounts)
Professional fees
US Trustee Quarterly Fees
Court Costs
Total Disbursements	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00
Net Cash Flow
(Receipts less Disbursements)	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00
Cash - End of Month	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00

* COMPENSATION TO SOLE PROPRIETORS FOR SERVICES RENDERED TO BANKRUPTCY ESTATE

THE FOLLOWING SECTION MUST BE COMPLETED

Disbursements for calculating US Trustee Quarterly Fees: (From Current Month Actual Column)
Total Disbursements	—
Less: Transfers to Debtor in Possession Accounts
Plus: Estate Disbursements made by outside sources (i.e. from escrow accounts)
Total Disbursements for calculating US Trustee Quarterly Fees	22,933,871.13

FORM MOR-1

THE THAXTON GROUP
Cash Disbursements for The Thaxton Group, Inc.
Monthly Court Report for	May-05	Case #             03-13183
FED ID#	57-0669498

	Consolidated Totals		Cherokee National Trust Account Wachovia 2000020760292	Wachovia Money Market 2003207426123		BB&T ESCROW ACCOUNT 5125898272	WACHOVIA DISBURSEMENT ACCOUNTS 2079900430275 2000014825091		WACHOVIA PAYROLL ACCOUNTS		E-Bay Account 200002299557
Beginning Cash Position	46,132,419.22		—	44,845,601.07		402,029.45	883,833.13		(44.64	)	1,000.21
	—
TICO Cash Collected	—								—
SM Cash Collected	—								—
TIG Cash Collected	—								—
TPF Cash Collected	—								—
TCL Cash Collected	—								—
Other Income Collected	188,521.58		—	33,860.31			154,661.27		—
Proceeds from the sales of the TICO Assets	—
SUBTOTAL	188,521.58		—	33,860.31		—	154,661.27		—		—
	—								—
CORRECTION OF BEGINNING BALANCES	—
GENERAL LEDGER DEPOSITS AND TRANSFERS	413,444.56		—	(21,000,000.00	)	—	21,355,638.33		57,806.23		—
	—
	—								—
Total Cash receipts	601,966.14		—	(20,966,139.69	)	—	21,510,299.60		57,806.23		—
									—
Cash Disbursements - Loans									—
									—
Loan Proceeds Checks	—								—
Expenses related to Loans	—								—
Subtotal - Loans	—		—	—		—	—		—		—
									—
									—
Cash Disbursements - Other									—
Advertising	—								—
Bank Charges	135.80			67.90			67.90		—
Claims Funding*	—						—
Company Auto	—						—
Computer Costs	3,122.12						3,122.12
Dues And Subscriptions	—						—
Employee Reimbursements - collections exp	—						—
Equipment Rental	—						—
Fixed Assets	—						—
Forms & Printing	(516.66	)					(516.66	)
Insurance	(4,249.57	)					(4,249.57	)
Meals & Entertainment	—						—
Miscellaneous	1,033.89						1,033.89
Office Expense	551.37						551.37
Postage	229.80						229.80
Prepaid Expenses	—						—
Prepaid Software ABS	—						—
Professional Fees-Ordinary Course	19,702.58						19,702.58
Rent	6,041.00						6,041.00
Repairs & Maintenance	—						—
Roadgard	—						—
Seminars & Meetings	—						—
Taxes & Licenses	820.17						820.17
Telephone	492.35						492.35
Temporary Agency Staff	1,070.00						1,070.00
Travel	165.13						165.13
Utilities	264.53						264.53
Interest to Finova	538,471.14						538,471.14
Payroll Paid TTG	57,806.23								57,806.23
Payroll Paid SMC	—
Restructuring Officer	48,000.00						48,000.00
Insurance Renewal	108,193.00						108,193.00
Credit Insurance Payments	—
Pre-Filing Prepays	—
Deposit to Lender	20,012,641.11						20,012,641.11
US Trustee	71,000.00						71,000.00
Bankruptcy Professionals	1,954,313.92						1,954,313.92
Other	114,583.22						114,583.22
Total Other Cash Disbursements	22,933,871.13		—	67.90		—	22,875,997.00		57,806.23		—
TOTAL ALL CASH DISBURSEMENTS	22,933,871.13		—	67.90		—	22,875,997.00		57,806.23		—
	23,800,514.23		—	23,879,393.48		402,029.45	(481,864.27	)	(44.64	)	1,000.21
Book Balance per bank rec.	23,800,514.23		—	23,879,393.48		402,029.45	(481,864.27	)	(44.64	)	1,000.21

THE THAXTON GROUP
Cash Disbursements for The Thaxton Group, Inc.	Case No.             03-13183
Monthly Court Report for
FED ID#

	Operating		Payroll		Other	Total
Beginning Cash Position	46,132,419.22		—		—	46,132,419.22
			—		—	—
TICO Cash Collected	—		—		—	—
SM Cash Collected	—		—		—	—
TIG Cash Collected	—		—		—	—
TPF Cash Collected	—		—		—	—
TCL Cash Collected	—		—		—	—
Other Income Collected	188,521.58		—		—	188,521.58
Proceeds from the sales of the TICO Assets
SUBTOTAL	188,521.58		—		—	188,521.58
	—		—		—	—
CORRECTION OF BEGINNING BALANCES	—		—		—	—
GENERAL LEDGER DEPOSITS AND TRANSFERS	413,444.56		—		—	413,444.56
					—	—
	—		—		—	—
Total Cash receipts	601,966.14		—		—	601,966.14
Cash Disbursements - Loans
Loan Proceeds Checks	—		—		—	—
Expenses related to Loans	—		—		—	—
Subtotal - Loans	—		—		—	—
Cash Disbursements - Other
Advertising	—		—		—	—
Bank Charges	135.80		—		—	135.80
Claims Funding*	—		—		—	—
Company Auto	—		—		—	—
Computer Costs	3,122.12		—		—	3,122.12
Dues And Subscriptions	—		—		—	—
Employee Reimbursements - collections exp	—		—		—	—
Equipment Rental	—		—		—	—
Fixed Assets	—		—		—	—
Forms & Printing	(516.66	)	—		—	(516.66	)
Insurance	(4,249.57	)	—		—	(4,249.57	)
Meals & Entertainment	—		—		—	—
Miscellaneous	1,033.89		—		—	1,033.89
Office Expense	551.37		—		—	551.37
Postage	229.80		—		—	229.80
Prepaid Expenses	—		—		—	—
Prepaid Software ABS	—		—		—	—
Professional Fees-Ordinary Course	19,702.58		—		—	19,702.58
Rent	6,041.00		—		—	6,041.00
Repairs & Maintenance	—		—		—	—
Roadgard	—		—		—	—
Seminars & Meetings	—		—		—	—
Taxes & Licenses	820.17		—		—	820.17
Telephone	492.35		—		—	492.35
Temporary Agency Staff	1,070.00		—		—	1,070.00
Travel	165.13		—		—	165.13
Utilities	264.53		—		—	264.53
Interest to Finova	538,471.14		—		—	538,471.14
Payroll Paid TTG	—		57,806.23		—	57,806.23
Payroll Paid SMC	—		—		—	—
Restructuring Officer	48,000.00		—		—	48,000.00
Insurance Renewal	108,193.00		—		—	108,193.00
Credit Insurance Payments	—		—		—	—
Pre-Filing Prepays	—		—		—	—
Deposit to Lender	20,012,641.11		—		—	20,012,641.11
US Trustee	71,000.00		—		—	71,000.00
Bankruptcy Professionals	1,954,313.92		—		—	1,954,313.92
Other	114,583.22		—		—	114,583.22
Total Other Cash Disbursements	22,876,064.90		57,806.23		—	22,933,871.13
	—		—		—	—
TOTAL ALL CASH DISBURSEMENTS	22,876,064.90		57,806.23		—	22,933,871.13
	23,858,320.46		(57,806.23	)	—	23,800,514.23
Book Balance per bank rec.

In re:	Case No.	03-13184
Thaxton Operating Company	Jointly Administered
SEE ATTACHED SCHEDULES	Reporting Period	May-05

SCHEDULE OF CASH RECEIPTS AND DISBURSEMENTS

Amounts reported should be per the debtor’s books, not the bank statements. The beginning cash should be the ending cash the prior month or, if this is the first report, the amount should be the balance on the date the petition was filed. The amounts reported in the “CURRENT MONTH - ACTUAL” column must equal the sum of the four bank account columns. The amounts reported in the “PROJECTED ” columns should be taken from the SMALL BUSINESS INITIAL REPORT (FORM IR-1). Attach copies of the bank statements and the cash disbursements journal. The total disbursements journal must equal the total disbursements reported on this page. A bank reconciliation must be attached for each accounts. [See Mor-1 (Con’t)]

	Bank Accounts								Current Month				Cumulative Filing to Date
	Operating		Payroll		Tax		Other		Actual		Projected		Actual		Projected
Cash Beginning of Month
Receipts
Cash Sales
Accounts Receivable
Loans and Advances
Sale of Assets
Other (Attach List)
Transfers (From DIP ACCOUNTS)
Total Receipts	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00
Disbursements
Net Payroll
Payroll Taxes
Sales, Use & Other Taxes
Inventory Purchases
Secured/Rental/Leases
Insurance
Administrative
Selling
Other (Attach List)
Owner Draw*
Transfers (To Dip Accounts)
Professional fees
US Trustee Quarterly Fees
Court Costs
Total Disbursements	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00
Net Cash Flow
(Receipts less Disbursements)	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00
Cash - End of Month	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00

* COMPENSATION TO SOLE PROPRIETORS FOR SERVICES RENDERED TO BANKRUPTCY ESTATE

THE FOLLOWING SECTION MUST BE COMPLETED

Disbursements for calculating US Trustee Quarterly Fees: (From Current Month Actual Column)
Total Disbursements		—
Less: Transfers to Debtor in Possession Accounts
Plus: Estate Disbursements made by outside sources (i.e. from escrow accounts)
Total Disbursements for calculating US Trustee Quarterly Fees	$	0.00

FORM MOR-1

THE THAXTON GROUP
Cash Disbursements for Thaxton Operating Company		Case #         03-13184	Case No.         01-10573
Monthly Court Report for	May-05
FED ID #	57-1083679

	Consolidated Totals							Operating	Payroll	Other	Total
Beginning Cash Position	—		—	—	—	—		—	—	—	—
	—			—	—				—	—	—
TICO Cash Collected	—							—	—	—	—
SM Cash Collected	—							—	—	—	—
TIG Cash Collected	—							—	—	—	—
TPF Cash Collected	—							—	—	—	—
TCL Cash Collected	—							—	—	—	—
Other Income Collected	—	HOLDING COMPANY -ALL ACTIVITY THROUGH SUBSIDIARIES						—	—	—	—
SUBTOTAL	—	—	—	—	—	—	—	—	—	—	—
	—							—	—	—	—
	—							—	—	—	—
GENERAL LEDGER DEPOSITS AND TRANSFERS	—							—	—	—	—
	—							—	—	—	—
	—							—	—	—	—
	—							—	—	—	—
	—							—	—	—	—
Total Cash Receipts and Transfers	—	—	—	—	—	—	—	—	—	—	—
Cash Disbursements - Loans
Loan Proceeds Checks
Expenses related to Loans
Subtotal - Loans	—	—	—	—	—	—		—	—	—	—
Cash Disbursements - Other
Advertising
Bank Charges								—	—	—	—
Claims Funding*	—
Company Auto	—							—	—	—	—
Computer Costs	—							—	—	—	—
Dues And Subscriptions	—							—	—	—	—
Employee Reimbursements - collections exp	—							—	—	—	—
Equipment Rental	—							—	—	—	—
Fixed Assets	—							—	—	—	—
Forms & Printing	—							—	—	—	—
Insurance	—							—	—	—	—
Meals & Entertainment	—							—	—	—	—
Miscellaneous	—							—	—	—	—
Office Expense	—							—	—	—	—
Postage	—							—	—	—	—
Prepaid Expenses	—							—	—	—	—
Prepaid Software ABS	—							—	—	—	—
Professional Fees-Ordinary Course	—							—	—	—	—
Rent	—							—	—	—	—
Repairs & Maintenance	—							—	—	—	—
Roadgard	—							—	—	—	—
Seminars & Meetings	—							—	—	—	—
Taxes & Licenses	—							—	—	—	—
Telephone	—							—	—	—	—
Temporary Agency Staff	—							—	—	—	—
Travel	—							—	—	—	—
Utilities	—							—	—	—	—
Interest to Finova	—							—	—	—	—
Payroll Paid TTG	—							—	—	—	—
Payroll Paid SMC	—							—	—	—	—
Restructuring Officer	—							—	—	—	—
Insurance Renewal	—							—	—	—	—
Voyager Payment	—							—	—	—	—
Pre-Filing Prepays	—							—	—	—	—
Deposit to Lender	—							—	—	—	—
US Trustee	—							—	—	—	—
Bankruptcy Professionals	—							—	—	—	—
	—							—	—	—	—
Total Other Cash Disbursements	—	—	—	—	—	—	—	—	—	—	—
								—	—	—	—
TOTAL ALL CASH DISBURSEMENTS	—	—	—	—	—	—	—	—	—	—	—
	—	—	—	—	—	—	—	—	—	—	—
Book Balance per bank rec.	—	—	—	—	—

In re:	Case No.	03-13186
TICO Premium Finance Company, Inc.	Jointly Administered
SEE ATTACHED SCHEDULES	Reporting Period	May-05

SCHEDULE OF CASH RECEIPTS AND DISBURSEMENTS

Amounts reported should be per the debtor’s books, not the bank statements. The beginning cash should be the ending cash the prior month or, if this is the first report, the amount should be the balance on the date the petition was filed. The amounts reported in the “CURRENT MONTH - ACTUAL” column must equal the sum of the four bank account columns. The amounts reported in the “PROJECTED” columns should be taken from the SMALL BUSINESS INITIAL REPORT (FORM IR-1). Attach copies of the bank statements and the cash disbursements journal. The total disbursements journal must equal the total disbursements reported on this page. A bank reconciliation must be attached for each accounts. [See Mor-1 (Con’t)]

	Bank Accounts								Current Month				Cumulative Filing to Date
	Operating		Payroll		Tax		Other		Actual		Projected		Actual		Projected
Cash Beginning of Month
Receipts
Cash Sales
Accounts Receivable
Loans and Advances
Sale of Assets
Other (Attach List)
Transfers (From DIP ACCOUNTS)
Total Receipts	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00
Disbursements
Net Payroll
Payroll Taxes
Sales, Use & Other Taxes
Inventory Purchases
Secured/Rental/Leases
Insurance
Administrative
Selling
Other (Attach List)
Owner Draw*
Transfers (To Dip Accounts)
Professional fees
US Trustee Quarterly Fees
Court Costs
Total Disbursements	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00
Net Cash Flow
(Receipts less Disbursements)	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00
Cash - End of Month	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00

* COMPENSATION TO SOLE PROPRIETORS FOR SERVICES RENDERED TO BANKRUPTCY ESTATE

THE FOLLOWING SECTION MUST BE COMPLETED

Disbursements for calculating US Trustee Quarterly Fees: (From Current Month Actual Column)
Total Disbursements		1,050.00
Less: Transfers to Debtor in Possession Accounts
Plus: Estate Disbursements made by outside sources (i.e. from escrow accounts)
Total Disbursements for calculating US Trustee Quarterly Fees	$	1,050.00

FORM MOR-1

THE THAXTON GROUP
Cash Disbursements for TICO PREMIUM		03-13186	Case No.         03-13186
Monthly Court Report for	May-05
FED ID #	58-2358369

	Consolidated Totals		Wachovia Premium Escrow 2000022989068	WACHOVIA DISBURSEMENT ACCOUNTS 2000014825664 2079900430589		WACHOVIA PAYROLL ACCOUNTS		Operating		Payroll	Other	Total
Beginning Cash Position	(7,600.17	)	7,034.47	(14,634.64	)			(7,600.17	)	—	—	(7,600.17	)
	—									—	—	—
TICO Cash Collected	—							—		—	—	—
SM Cash Collected	—							—		—	—	—
TIG Cash Collected	—							—		—	—	—
TPF Cash Collected	—							—		—	—	—
TCL Cash Collected	—							—		—	—	—
Other Income Collected	—		—					—		—	—	—
SUBTOTAL	—		—	—		—		—		—	—	—
	—							—		—	—	—
	—							—		—	—	—
GENERAL LEDGER DEPOSITS AND TRANSFERS	3,066.88			3,066.88		—		3,066.88		—	—	3,066.88
	—							—		—	—	—
	—							—		—	—	—
	—							—		—	—	—
	—							—		—	—	—
Total Cash Receipts and Transfers	3,066.88		—	3,066.88		—		3,066.88		—	—	3,066.88
Cash Disbursements - Loans
Loan Proceeds Checks	—							—		—	—	—
Expenses related to Loans	—							—		—	—	—
Subtotal - Loans	—		—	—		—		—				—
Cash Disbursements - Other
Advertising
Bank Charges	—							—		—	—	—
Claims Funding*	—
Company Auto	—							—		—	—	—
Computer Costs	1,050.00			1,050.00				1,050.00		—	—	1,050.00
Dues And Subscriptions	—							—		—	—	—
Employee Reimbursements - collections exp	—							—		—	—	—
Equipment Rental	—							—		—	—	—
Fixed Assets	—							—		—	—	—
Forms & Printing	—							—		—	—	—
Insurance	—							—		—	—	—
Meals & Entertainment	—							—		—	—	—
Miscellaneous	—							—		—	—	—
Office Expense	—							—		—	—	—
Postage	—							—		—	—	—
Prepaid Expenses	—							—		—	—	—
Prepaid Software ABS	—							—		—	—	—
Professional Fees-Ordinary Course	—							—		—	—	—
Rent	—							—		—	—	—
Repairs & Maintenance	—							—		—	—	—
Roadgard	—							—		—	—	—
Seminars & Meetings	—							—		—	—	—
Taxes & Licenses	—							—		—	—	—
Telephone	—							—		—	—	—
Temporary Agency Staff	—							—		—	—	—
Travel	—							—		—	—	—
Utilities	—							—		—	—	—
Interest to Finova	—							—		—	—	—
Payroll Paid TTG	—							—		—	—	—
Payroll Paid SMC	—							—		—	—	—
Restructuring Officer	—							—		—	—	—
Insurance Renewal	—							—		—	—	—
Voyager Payment	—							—		—	—	—
Pre-Filing Prepays	—							—		—	—	—
Deposit to Lender	—							—		—	—	—
US Trustee	—							—		—	—	—
Bankruptcy Professionals	—							—		—	—	—
Other	—							—		—	—	—
Total Other Cash Disbursements	1,050.00		—	1,050.00		—	—	1,050.00		—	—	1,050.00
								—		—	—	—
TOTAL ALL CASH DISBURSEMENTS	1,050.00		—	1,050.00		—		1,050.00		—	—	1,050.00
	(5,583.29	)	7,034.47	(12,617.76	)	—		(5,583.29	)	—	—	(5,583.29	)
Book Balance per bank rec.	(5,583.29	)	7,034.47	(12,617.76	)

In re:	Case No.	03-13185
EAGLE Premium Finance Company, Inc.	Jointly Administered
SEE ATTACHED SCHEDULES	Reporting Period	May-05

SCHEDULE OF CASH RECEIPTS AND DISBURSEMENTS

Amounts reported should be per the debtor’s books, not the bank statements. The beginning cash should be the ending cash the prior month or, if this is the first report, the amount should be the balance on the date the petition was filed. The amounts reported in the “CURRENT MONTH - ACTUAL” column must equal the sum of the four bank account columns. The amounts reported in the “PROJECTED” columns should be taken from the SMALL BUSINESS INITIAL REPORT (FORM IR-1). Attach copies of the bank statements and the cash disbursements journal. The total disbursements journal must equal the total disbursements reported on this page. A bank reconciliation must be attached for each accounts. [See Mor-1 (Con’t)]

	Bank Accounts								Current Month				Cumulative Filing to Date
	Operating		Payroll		Tax		Other		Actual		Projected		Actual		Projected
Cash Beginning of Month
Receipts
Cash Sales
Accounts Receivable
Loans and Advances
Sale of Assets
Other (Attach List)
Transfers (From DIP ACCOUNTS)
Total Receipts	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00
Disbursements
Net Payroll
Payroll Taxes
Sales, Use & Other Taxes
Inventory Purchases
Secured/Rental/Leases
Insurance
Administrative
Selling
Other (Attach List)
Owner Draw*
Transfers (To Dip Accounts)
Professional fees
US Trustee Quarterly Fees
Court Costs
Total Disbursements	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00
Net Cash Flow
(Receipts less Disbursements)	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00
Cash - End of Month	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00

* COMPENSATION TO SOLE PROPRIETORS FOR SERVICES RENDERED TO BANKRUPTCY ESTATE

THE FOLLOWING SECTION MUST BE COMPLETED

Disbursements for calculating US Trustee Quarterly Fees: (From Current Month Actual Column)
Total Disbursements		—
Less: Transfers to Debtor in Possession Accounts
Plus: Estate Disbursements made by outside sources (i.e. from escrow accounts)
Total Disbursements for calculating US Trustee Quarterly Fees	$	0.00

FORM MOR-1

THE THAXTON GROUP
Cash Disbursements for EAGLE		Case No.         03-13185	Case No.         03-13185
Monthly Court Report for	May-05
FED ID #	54-0925005

	Consolidated Totals	WACHOVIA DEPOSITORY ACCOUNTS	WACHOVIA DISBURSEMENT ACCOUNTS	WACHOVIA PAYROLL ACCOUNTS		Operating	Payroll	Other	Total
Beginning Cash Position	—		—	—		—	—	—	—
	—						—	—	—
TICO Cash Collected	—					—	—	—	—
SM Cash Collected	—					—	—	—	—
TIG Cash Collected	—					—	—	—	—
TPF Cash Collected	—					—	—	—	—
TCL Cash Collected	—					—	—	—	—
Other Income Collected	—					—	—	—	—
SUBTOTAL	—	—	—	—	—	—	—	—	—
	—					—	—	—	—
	—					—	—	—	—
GENERAL LEDGER DEPOSITS AND TRANSFERS	All transaction in this subsidiary are included in TICO PREMIUM					—	—	—	—
	—					—	—	—	—
	—					—	—	—	—
	—					—	—	—	—
	—					—	—	—	—
Total Cash Receipts and Transfers	—	—	—	—	—	—	—	—	—
Cash Disbursements - Loans
Loan Proceeds Checks
Expenses related to Loans
Subtotal - Loans	—	—	—	—		—	—	—	—
Cash Disbursements - Other
Advertising
Bank Charges	—					—	—	—	—
Claims Funding*	—
Company Auto	—					—	—	—	—
Computer Costs	—					—	—	—	—
Dues And Subscriptions	—					—	—	—	—
Employee Reimbursements - collections exp	—					—	—	—	—
Equipment Rental	—					—	—	—	—
Fixed Assets	—					—	—	—	—
Forms & Printing	—					—	—	—	—
Insurance	—					—	—	—	—
Meals & Entertainment	—					—	—	—	—
Miscellaneous	—					—	—	—	—
Office Expense	—					—	—	—	—
Postage	—					—	—	—	—
Prepaid Expenses	—					—	—	—	—
Prepaid Software ABS	—					—	—	—	—
Professional Fees-Ordinary Course	—					—	—	—	—
Rent	—					—	—	—	—
Repairs & Maintenance	—					—	—	—	—
Roadgard	—					—	—	—	—
Seminars & Meetings	—					—	—	—	—
Taxes & Licenses	—					—	—	—	—
Telephone	—					—	—	—	—
Temporary Agency Staff	—					—	—	—	—
Travel	—					—	—	—	—
Utilities	—					—	—	—	—
Interest to Finova	—					—	—	—	—
Payroll Paid TTG	—					—	—	—	—
Payroll Paid SMC	—					—	—	—	—
Restructuring Officer	—					—	—	—	—
Insurance Renewal	—					—	—	—	—
Voyager Payment	—					—	—	—	—
Pre-Filing Prepays	—					—	—	—	—
Deposit to Lender	—					—	—	—	—
US Trustee	—					—	—	—	—
Bankruptcy Professionals	—					—	—	—	—
	—					—	—	—	—
Total Other Cash Disbursements	—	—	—	—	—	—	—	—	—
						—	—	—	—
TOTAL ALL CASH DISBURSEMENTS	—	—	—	—	—	—	—	—	—
	—	—	—	—	—	—	—	—	—
Book Balance per bank rec.	—	—	—

In re:	Case No.	03-13187
Thaxton Insurance Group, Inc.	Jointly Administered
SEE ATTACHED SCHEDULES	Reporting Period	May-05

SCHEDULE OF CASH RECEIPTS AND DISBURSEMENTS

Amounts reported should be per the debtor’s books, not the bank statements. The beginning cash should be the ending cash the prior month or, if this is the first report, the amount should be the balance on the date the petition was filed. The amounts reported in the “CURRENT MONTH - ACTUAL” column must equal the sum of the four bank account columns. The amounts reported in the “PROJECTED” columns should be taken from the SMALL BUSINESS INITIAL REPORT (FORM IR-1). Attach copies of the bank statements and the cash disbursements journal. The total disbursements journal must equal the total disbursements reported on this page. A bank reconciliation must be attached for each accounts. [See Mor-1 (Con’t)]

	Bank Accounts								Current Month				Cumulative Filing to Date
	Operating		Payroll		Tax		Other		Actual		Projected		Actual		Projected
Cash Beginning of Month
Receipts
Cash Sales
Accounts Receivable
Loans and Advances
Sale of Assets
Other (Attach List)
Transfers (From DIP ACCOUNTS)
Total Receipts	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00
Disbursements
Net Payroll
Payroll Taxes
Sales, Use & Other Taxes
Inventory Purchases
Secured/Rental/Leases
Insurance
Administrative
Selling
Other (Attach List)
Owner Draw*
Transfers (To Dip Accounts)
Professional fees
US Trustee Quarterly Fees
Court Costs
Total Disbursements	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00
Net Cash Flow
(Receipts less Disbursements)	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00
Cash - End of Month	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00

* COMPENSATION TO SOLE PROPRIETORS FOR SERVICES RENDERED TO BANKRUPTCY ESTATE

THE FOLLOWING SECTION MUST BE COMPLETED

Disbursements for calculating US Trustee Quarterly Fees: (From Current Month Actual Column)
Total Disbursements		—
Less: Transfers to Debtor in Possession Accounts
Plus: Estate Disbursements made by outside sources (i.e. from escrow accounts)
Total Disbursements for calculating US Trustee Quarterly Fees	$	0.00

FORM MOR-1

THE THAXTON GROUP
Cash Disbursements for Thaxton Insurance Group		Case #         03-13187	Case No.         03-13187
Monthly Court Report for	May-05
FED ID#	57-0926039

	Consolidated Totals		WACHOVIA DISBURSEMENT ACCOUNTS		WACHOVIA PAYROLL ACCOUNTS		Operating		Payroll	Other	Total
Beginning Cash Position	(7,538.85	)	(7,538.85	)	—		(7,538.85	)	—	—	(7,538.85	)
	—								—	—	—
TICO Cash Collected	—						—		—	—	—
SM Cash Collected	—						—		—	—	—
TIG Cash Collected	—						—		—	—	—
TPF Cash Collected	—						—		—	—	—
TCL Cash Collected	—						—		—	—	—
Other Income Collected	—						—		—	—	—
SUBTOTAL	—		—		—	—	—		—	—	—
	—						—		—	—	—
	—						—		—	—	—
GENERAL LEDGER DEPOSITS AND TRANSFERS	7,538.85		7,538.85		—		7,538.85		—	—	7,538.85
	—						—		—	—	—
	—						—		—	—	—
	—						—		—	—	—
	—						—		—	—	—
Total Cash Receipts and Transfers	7,538.85		7,538.85		—	—	7,538.85		—	—	7,538.85
Cash Disbursements - Loans
Loan Proceeds Checks	—
Expenses related to Loans/TIG	—						—				—
Subtotal - Loans	—		—		—		—		—	—	—
Cash Disbursements - Other
Advertising	—						—				—
Bank Charges	—						—			—	—
Claims Funding*	—						—				—
Company Auto	—						—		—	—	—
Computer Costs	—						—		—	—	—
Dues And Subscriptions	—						—		—	—	—
Employee Reimbursements - collections exp	—						—		—	—	—
Equipment Rental	—						—		—	—	—
Fixed Assets	—						—		—	—	—
Forms & Printing	—						—		—	—	—
Insurance	—						—		—	—	—
Meals & Entertainment	—						—		—	—	—
Miscellaneous	—						—		—	—	—
Office Expense	—						—		—	—	—
Postage	—						—		—	—	—
Prepaid Expenses	—						—		—	—	—
Prepaid Software ABS	—						—		—	—	—
Professional Fees-Ordinary Course	—						—		—	—	—
Rent	—						—		—	—	—
Repairs & Maintenance	—						—		—	—	—
Roadgard	—						—		—	—	—
Seminars & Meetings	—						—		—	—	—
Taxes & Licenses	—						—		—	—	—
Telephone	—						—		—	—	—
Temporary Agency Staff	—						—		—	—	—
Travel	—						—		—	—	—
Utilities	—						—		—	—	—
Interest to Finova	—						—		—	—	—
Payroll Paid TTG	—				—		—		—	—	—
Payroll Paid SMC	—						—		—	—	—
Restructuring Officer	—						—		—	—	—
Insurance Renewal	—						—		—	—	—
Voyager Payment	—						—		—	—	—
Pre-Filing Prepays	—						—		—	—	—
Deposit to Lender	—						—		—	—	—
US Trustee	—						—		—	—	—
Bankruptcy Professionals	—						—		—	—	—
Other	—						—		—	—	—
Total Other Cash Disbursements	—		—		—		—		—	—	—
							—		—	—	—
TOTAL ALL CASH DISBURSEMENTS	—		—		—		—		—	—	—
	—		—		—		—		—	—	—
Book Balance per bank rec.	—				—

In re:	Case No.	03-13188
Thaxton Commercial Lending, Inc.	Jointly Administered
SEE ATTACHED SCHEDULES	Reporting Period	May-05

SCHEDULE OF CASH RECEIPTS AND DISBURSEMENTS

Amounts reported should be per the debtor’s books, not the bank statements. The beginning cash should be the ending cash the prior month or, if this is the first report, the amount should be the balance on the date the petition was filed. The amounts reported in the “CURRENT MONTH - ACTUAL” column must equal the sum of the four bank account columns. The amounts reported in the “PROJECTED” columns should be taken from the SMALL BUSINESS INITIAL REPORT (FORM IR-1). Attach copies of the bank statements and the cash disbursements journal. The total disbursements journal must equal the total disbursements reported on this page. A bank reconciliation must be attached for each accounts. [See Mor-1 (Con’t)]

	Bank Accounts								Current Month				Cumulative Filing to Date
	Operating		Payroll		Tax		Other		Actual		Projected		Actual		Projected
Cash Beginning of Month
Receipts
Cash Sales
Accounts Receivable
Loans and Advances
Sale of Assets
Other (Attach List)
Transfers (From DIP ACCOUNTS)
Total Receipts	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00
Disbursements
Net Payroll
Payroll Taxes
Sales, Use & Other Taxes
Inventory Purchases
Secured/Rental/Leases
Insurance
Administrative
Selling
Other (Attach List)
Owner Draw*
Transfers (To Dip Accounts)
Professional fees
US Trustee Quarterly Fees
Court Costs
Total Disbursements	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00
Net Cash Flow
(Receipts less Disbursements)	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00
Cash - End of Month	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00

* COMPENSATION TO SOLE PROPRIETORS FOR SERVICES RENDERED TO BANKRUPTCY ESTATE

THE FOLLOWING SECTION MUST BE COMPLETED

Disbursements for calculating US Trustee Quarterly Fees: (From Current Month Actual Column)
Total Disbursements		—
Less: Transfers to Debtor in Possession Accounts
Plus: Estate Disbursements made by outside sources (i.e. from escrow accounts)
Total Disbursements for calculating US Trustee Quarterly Fees	$	0.00

FORM MOR-1

THE THAXTON GROUP
Cash Disbursements for Thaxton Commercial Lending		Case #         03-13188	Case No.         03-13188
Monthly Court Report for	May-05
FED ID#	57-1067973

	Consolidated Totals	WACHOVIA DISBURSEMENT ACCOUNTS 2000014825635 2079900430576	WACHOVIA PAYROLL ACCOUNTS	Operating	Payroll	Other	Total
Beginning Cash Position	—	—		—	—	—	—
	—				—	—	—
TICO Cash Collected	—			—	—	—	—
SM Cash Collected	—			—	—	—	—
TIG Cash Collected	—			—	—	—	—
TPF Cash Collected	—			—	—	—	—
TCL Cash Collected	—			—	—	—	—
Other Income Collected	—			—	—	—	—
SUBTOTAL	—	—	—	—	—	—	—
	—			—	—	—	—
	—			—	—	—	—
GENERAL LEDGER DEPOSITS AND TRANSFERS	—		—	—	—	—	—
	—			—	—	—	—
	—			—	—	—	—
	—			—	—	—	—
	—			—	—	—	—
Total Cash Receipts and Transfers	—	—	—	—	—	—	—
Cash Disbursements - Loans
Loan Proceeds Checks	—			—			—
Expenses related to Loans	—			—			—
Subtotal - Loans	—	—	—	—			—
Cash Disbursements - Other	—						—
Advertising	—	—		—			—
Bank Charges	—			—	—	—	—
Claims Funding*	—	—					—
Company Auto	—			—	—	—	—
Computer Costs	—			—	—	—	—
Dues And Subscriptions	—			—	—	—	—
Employee Reimbursements - collections exp	—			—	—	—	—
Equipment Rental	—			—	—	—	—
Fixed Assets	—			—	—	—	—
Forms & Printing	—			—	—	—	—
Insurance	—			—	—	—	—
Meals & Entertainment	—			—	—	—	—
Miscellaneous	—			—	—	—	—
Office Expense	—			—	—	—	—
Postage	—			—	—	—	—
Prepaid Expenses	—			—	—	—	—
Prepaid Software ABS	—			—	—	—	—
Professional Fees-Ordinary Course	—			—	—	—	—
Rent	—			—	—	—	—
Repairs & Maintenance	—			—	—	—	—
Roadgard	—			—	—	—	—
Seminars & Meetings	—			—	—	—	—
Taxes & Licenses	—			—	—	—	—
Telephone	—			—	—	—	—
Temporary Agency Staff	—			—	—	—	—
Travel	—			—	—	—	—
Utilities	—			—	—	—	—
Interest to Finova	—			—	—	—	—
Payroll Paid TTG	—		—	—	—	—	—
Payroll Paid SMC	—			—	—	—	—
Restructuring Officer	—			—	—	—	—
Insurance Renewal	—			—	—	—	—
Voyager Payment	—			—	—	—	—
Pre-Filing Prepays	—			—	—	—	—
Deposit to Lender	—			—	—	—	—
US Trustee	—			—	—	—	—
Bankruptcy Professionals	—			—	—	—	—
	—			—	—	—	—
Total Other Cash Disbursements	—	—	—	—	—	—	—
				—	—	—	—
TOTAL ALL CASH DISBURSEMENTS	—	—	—	—	—	—	—
	—	—	—	—	—	—	—
Book Balance per bank rec.	—	—

In re:	Case No.	03-13189
Paragon, Inc.	Jointly Administered
SEE ATTACHED SCHEDULES	Reporting Period	May-05

SCHEDULE OF CASH RECEIPTS AND DISBURSEMENTS

Amounts reported should be per the debtor’s books, not the bank statements. The beginning cash should be the ending cash the prior month or, if this is the first report, the amount should be the balance on the date the petition was filed. The amounts reported in the “CURRENT MONTH - ACTUAL” column must equal the sum of the four bank account columns. The amounts reported in the “PROJECTED ” columns should be taken from the SMALL BUSINESS INITIAL REPORT (FORM IR-1). Attach copies of the bank statements and the cash disbursements journal. The total disbursements journal must equal the total disbursements reported on this page. A bank reconciliation must be attached for each accounts. [See Mor-1 (Con’t)]

	Bank Accounts								Current Month				Cumulative Filing to Date
	Operating		Payroll		Tax		Other		Actual		Projected		Actual		Projected
Cash Beginning of Month
Receipts
Cash Sales
Accounts Receivable
Loans and Advances
Sale of Assets
Other (Attach List)
Transfers (From DIP ACCOUNTS)
Total Receipts	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00
Disbursements
Net Payroll
Payroll Taxes
Sales, Use & Other Taxes
Inventory Purchases
Secured/Rental/Leases
Insurance
Administrative
Selling
Other (Attach List)
Owner Draw*
Transfers (To Dip Accounts)
Professional fees
US Trustee Quarterly Fees
Court Costs
Total Disbursements	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00
Net Cash Flow
(Receipts less Disbursements)	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00
Cash - End of Month	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00

* COMPENSATION TO SOLE PROPRIETORS FOR SERVICES RENDERED TO BANKRUPTCY ESTATE

THE FOLLOWING SECTION MUST BE COMPLETED

Disbursements for calculating US Trustee Quarterly Fees: (From Current Month Actual Column)
Total Disbursements		—
Less: Transfers to Debtor in Possession Accounts
Plus: Estate Disbursements made by outside sources (i.e. from escrow accounts)
Total Disbursements for calculating US Trustee Quarterly Fees	$	0.00

FORM MOR-1

THE THAXTON GROUP
Cash Disbursements for Paragon, Inc. - Inactive Company		Case #         03-13189	Case No.         03-13189
Monthly Court Report for	May-05
FED ID#	56-2057616

	Consolidated Totals		Wachovia 2003233012187	Operating	Payroll	Other	Total
Beginning Cash Position	—	—	—	—		—	—
	—	—	—		—	—	—
TICO Cash Collected	—			—	—	—	—
SM Cash Collected	—			—	—	—	—
TIG Cash Collected	—			—	—	—	—
TPF Cash Collected	—			—	—	—	—
TCL Cash Collected	—			—	—	—	—
Other Income Collected	—			—	—	—	—
SUBTOTAL	—	—	—	—	—	—	—
	—			—	—	—	—
	—			—	—	—	—
GENERAL LEDGER DEPOSITS AND TRANSFERS	—		—	—	—	—	—
	—			—	—	—	—
	—			—	—	—	—
	—			—	—	—	—
	—			—	—	—	—
Total Cash Receipts and Transfers	—	—	—	—	—	—	—
Cash Disbursements - Loans
Loan Proceeds Checks
Expenses related to Loans
Subtotal - Loans	—	—	—	—	—	—	—
Cash Disbursements - Other
Advertising
Bank Charges	—			—		—	—
Claims Funding*	—
Company Auto	—			—	—	—	—
Computer Costs	—			—	—	—	—
Dues And Subscriptions	—			—	—	—	—
Employee Reimbursements - collections exp	—			—	—	—	—
Equipment Rental	—			—	—	—	—
Fixed Assets	—			—	—	—	—
Forms & Printing	—			—	—	—	—
Insurance	—			—	—	—	—
Meals & Entertainment	—			—	—	—	—
Miscellaneous	—			—	—	—	—
Office Expense	—			—	—	—	—
Postage	—			—	—	—	—
Prepaid Expenses	—			—	—	—	—
Prepaid Software ABS	—			—	—	—	—
Professional Fees-Ordinary Course	—			—	—	—	—
Rent	—			—	—	—	—
Repairs & Maintenance	—			—	—	—	—
Roadgard	—			—	—	—	—
Seminars & Meetings	—			—	—	—	—
Taxes & Licenses	—			—	—	—	—
Telephone	—			—	—	—	—
Temporary Agency Staff	—			—	—	—	—
Travel	—			—	—	—	—
Utilities	—			—	—	—	—
Interest to Finova	—			—	—	—	—
Payroll Paid TTG	—			—	—	—	—
Payroll Paid SMC	—			—	—	—	—
Restructuring Officer	—			—	—	—	—
Insurance Renewal	—			—	—	—	—
Voyager Payment	—			—	—	—	—
Pre-Filing Prepays	—			—	—	—	—
Deposit to Lender	—			—	—	—	—
US Trustee	—			—	—	—	—
Bankruptcy Professionals	—			—	—	—	—
	—			—	—	—	—
Total Other Cash Disbursements	—	—	—	—	—	—	—
				—	—	—	—
TOTAL ALL CASH DISBURSEMENTS	—	—	—	—	—	—	—
	—	—	—	—	—	—	—
Book Balance per bank rec.	—	—	—

THE THAXTON GROUP
SUMMARY TICO CREDIT CORP
Monthly Court Report for	May-05
FED ID#

	Consolidated Totals		TICO-AL 03-13196	TICO-GA 03-13199	TICO-DE 03-13182		TICO-MS 03-13201		TICO-NC 03-13193	TICO-OH 03-13200		MODERN RECOVERY 03-13190	TICO- SC 03-13191		TICO- TN 03-13203		TICO-HQ 03-13195
Beginning Cash Position	(39,974.33	)	—	—	—		—		—	(0.00	)	—	—		—		(39,974.33	)
	—		—	—	—		—		—	—		—	—		—		—
TICO Cash Collected	20,737.36		—	—	—		—		—	20,737.36		—	—		—		—
SM Cash Collected	—		—	—	—		—		—	—		—	—		—		—
TIG Cash Collected	—		—	—	—		—		—	—		—	—		—		—
TPF Cash Collected	—		—	—	—		—		—	—		—	—		—		—
TCL Cash Collected	—		—	—	—		—		—	—		—	—		—		—
Other Income Collected	613.44		—	—	—		491.68		—	13.42		—	83.34		25.00		—
SUBTOTAL	21,350.80		—	—	—		491.68		—	20,750.78		—	83.34		25.00		—
	—		—	—	—		—		—	—		—	—		—		—
	—		—	—	—		—		—	—		—	—		—		—
GENERAL LEDGER DEPOSITS AND TRANSFERS	12,648.34		—	—	(77.43	)	(1,677.71	)	—	(20,389.07	)	—	(83.34	)	(468.17	)	35,344.06
	—		—	—	—		—		—	—		—	—		—		—
Funds Received From Sale of Tico Mississippi - sent directly to Finova	—		—	—	—		—		—	—		—	—		—		—
Holdback, Deposits and Escrows	—		—	—	—		—		—	—		—	—		—		—
	—		—	—	—		—		—	—		—	—		—		—
Total Cash Receipts and Transfers	33,999.14		—	—	(77.43	)	(1,186.03	)	—	361.71		—	—		(443.17	)	35,344.06
			—	—	—		—		—	—		—	—		—		—
Cash Disbursements - Loans			—	—	—		—		—	—		—	—		—		—
			—	—	—		—		—	—		—	—		—		—
Loan Proceeds Checks	—		—	—	—		—		—	—		—	—		—		—
Expenses related to Loans	(1,464.60	)	—	—	(77.43	)	(1,033.00	)	—	—		—	—		(354.17	)	—
Subtotal - Loans	(1,464.60	)	—	—	(77.43	)	(1,033.00	)	—	—		—	—		(354.17	)	—
			—	—	—		—		—	—		—	—		—		—
	—		—	—	—		—		—	—		—	—		—		—
Cash Disbursements - Other	—		—	—	—		—		—	—		—	—		—		—
Advertising	—		—	—	—		—		—	—		—	—		—		—
Bank Charges	—		—	—	—		—		—	—		—	—		—		—
Claims Funding*	—		—	—	—		—		—	—		—	—		—		—
Company Auto	—		—	—	—		—		—	—		—	—		—		—
Computer Costs	341.00		—	—	—		—		—	—		—	—		—		341.00
Dues And Subscriptions	—		—	—	—		—		—	—		—	—		—		—
Employee Reimbursements - collections exp	272.71		—	—	—		—		—	361.71		—	—		(89.00	)	—
Equipment Rental	—		—	—	—		—		—	—		—	—		—		—
Fixed Assets	—		—	—	—		—		—	—		—	—		—		—
Forms & Printing	—		—	—	—		—		—	—		—	—		—		—
Insurance	—		—	—	—		—		—	—		—	—		—		—
Meals & Entertainment	—		—	—	—		—		—	—		—	—		—		—
Miscellaneous	—		—	—	—		—		—	—		—	—		—		—
Office Expense	—		—	—	—		—		—	—		—	—		—		—
Postage	231.58		—	—	—		—		—	—		—	—		—		231.58
Prepaid Expenses	—		—	—	—		—		—	—		—	—		—		—
Prepaid Software ABS	—		—	—	—		—		—	—		—	—		—		—
Professional Fees-Ordinary Course	1,399.31		—	—	—		—		—	—		—	—		—		1,399.31
Rent	820.00		—	—	—		—		—	—		—	—		—		820.00
Repairs & Maintenance	—		—	—	—		—		—	—		—	—		—		—
Roadgard	—		—	—	—		—		—	—		—	—		—		—
Seminars & Meetings	—		—	—	—		—		—	—		—	—		—		—
Taxes & Licenses	18.13		—	—	—		—		—	—		—	—		—		18.13
Telephone	—		—	—	—		—		—	—		—	—		—		—
Temporary Agency Staff	83.73		—	—	—		—		—	—		—	—		—		83.73
Travel	—		—	—	—		—		—	—		—	—		—		—
Utilities	(153.03	)	—	—	—		(153.03	)	—	—		—	—		—		—
Interest to Finova	—		—	—	—		—		—	—		—	—		—		—
Payroll Paid TTG	30,509.79		—	—	—		—		—	—		—	—		—		30,509.79
Payroll Paid SMC	—		—	—	—		—		—	—		—	—		—		—
Restructuring Officer	—		—	—	—		—		—	—		—	—		—		—
Insurance Renewal	—		—	—	—		—		—	—		—	—		—		—
Credit Insurance Payments	—		—	—	—		—		—	—		—	—		—		—
Pre-Filing Prepays	—		—	—	—		—		—	—		—	—		—		—
Proceeds to Lender	—		—	—	—		—		—	—		—	—		—		—
US Trustee	—		—	—	—		—		—	—		—	—		—		—
Bankruptcy Professionals	—		—	—	—		—		—	—		—	—		—		—
Other - payment to Investment Banker	—		—	—	—		—		—	—		—	—		—		—
Total Other Cash Disbursements	33,523.22		—	—	—		(153.03	)	—	361.71		—	—		(89.00	)	33,403.54
TOTAL ALL CASH DISBURSEMENTS	32,058.62		—	—	(77.43	)	(1,186.03	)	—	361.71		—	—		(443.17	)	33,403.54
				—	—		—		—	—		—	—		—		—
	(38,033.81	)	—	—	—		—		—	(0.00	)	—	—		—		(38,033.81	)
				—	—		—		—	—		—	—		—		—
Book Balance per bank rec.	(38,033.81	)	—	—	—		—		—	(0.00	)	0.00	—		—		(38,033.81	)

THE THAXTON GROUP
SUMMARY TICO CREDIT CORP	Case No.
Monthly Court Report for
FED ID#

	Operating		Payroll	Other	Total
Beginning Cash Position	(39,974.33	)	—	—	(39,974.33	)
			—	—	—
TICO Cash Collected	20,737.36		—	—	20,737.36
SM Cash Collected	—		—	—	—
TIG Cash Collected	—		—	—	—
TPF Cash Collected	—		—	—	—
TCL Cash Collected	—		—	—	—
Other Income Collected	613.44		—	—	613.44
SUBTOTAL	21,350.80		—	—	21,350.80
	—		—	—	—
	—		—	—	—
GENERAL LEDGER DEPOSITS AND TRANSFERS	(17,861.45	)	30,509.79	—	12,648.34
	—		—	—	—
Funds Received From Sale of Tico Mississippi - sent directly to Finova	—		—	—	—
Holdback, Deposits and Escrows	—		—	—	—
	—		—	—	—
Total Cash Receipts and Transfers	3,489.35		30,509.79	—	33,999.14
	—
Cash Disbursements - Loans	—
	—
Loan Proceeds Checks	—				—
Expenses related to Loans	(1,464.60	)			(1,464.60	)
Subtotal - Loans	(1,464.60	)			(1,464.60	)
	—				—
	—				—
Cash Disbursements - Other	—				—
Advertising	—				—
Bank Charges	—		—	—	—
Claims Funding*	—				—
Company Auto	—		—	—	—
Computer Costs	341.00		—	—	341.00
Dues And Subscriptions	—		—	—	—
Employee Reimbursements - collections exp	272.71		—	—	272.71
Equipment Rental	—		—	—	—
Fixed Assets	—		—	—	—
Forms & Printing	—		—	—	—
Insurance	—		—	—	—
Meals & Entertainment	—		—	—	—
Miscellaneous	—		—	—	—
Office Expense	—		—	—	—
Postage	231.58		—	—	231.58
Prepaid Expenses	—		—	—	—
Prepaid Software ABS	—		—	—	—
Professional Fees-Ordinary Course	1,399.31		—	—	1,399.31
Rent	820.00		—	—	820.00
Repairs & Maintenance	—		—	—	—
Roadgard	—		—	—	—
Seminars & Meetings	—		—	—	—
Taxes & Licenses	18.13		—	—	18.13
Telephone	—		—	—	—
Temporary Agency Staff	83.73		—	—	83.73
Travel	—		—	—	—
Utilities	(153.03	)	—	—	(153.03	)
Interest to Finova	—		—	—	—
Payroll Paid TTG	—		30,509.79	—	30,509.79
Payroll Paid SMC	—		—	—	—
Restructuring Officer	—		—	—	—
Insurance Renewal	—		—	—	—
Credit Insurance Payments	—		—	—	—
Pre-Filing Prepays	—		—	—	—
Proceeds to Lender	—		—	—	—
US Trustee	—		—	—	—
Bankruptcy Professionals	—		—	—	—
Other - payment to Investment Banker	—		—	—	—
Total Other Cash Disbursements	3,013.43		30,509.79	—	33,523.22
	—		—	—	—
TOTAL ALL CASH DISBURSEMENTS	1,548.83		30,509.79	—	32,058.62
	(38,033.81	)	—	—	(38,033.81	)
Book Balance per bank rec.

THE THAXTON GROUP
SUMMARY TICO CREDIT CORP - DISBURSEMENT ACCOUNTS	WACHOVIA #2000014815101	WACHOVIA #2000014816087	Case No.
Monthly Court Report for	May-05
FED ID#

	Consolidated Totals		TICO-AL	TICO-GA	TICO-DE		TICO-MS		TICO-NC	TICO-OH	TICO-SC	TICO-TN		TICO-HQ		Operating		Payroll	Other	Total
Beginning Cash Position	(39,974.33	)	—	—										(39,974.33	)	(39,974.33	)	—	—	(39,974.33	)
	—		—	—	—		—		—	—		—		—				—	—	—
TICO Cash Collected	—															—		—	—	—
SM Cash Collected	—													—		—		—	—	—
TIG Cash Collected	—													—		—		—	—	—
TPF Cash Collected	—													—		—		—	—	—
TCL Cash Collected	—													—		—		—	—	—
Other Income Collected	—													—		—		—	—	—
SUBTOTAL	—		—	—	—		—		—	—	—	—		—
	—		—	—	—		—		—	—	—	—		—		—		—	—	—
	—															—		—	—	—
GENERAL LEDGER DEPOSITS AND TRANSFERS	3,489.35		—	—	(77.43	)	(1,186.03	)	—	361.71	—	(443.17	)	4,834.27		3,489.35		—	—	3,489.35
Outstanding Checks	—		—	—	—		—		—	—	—	—				—		—	—	—
WACHOVIA #2000014825101	—		—	—	—		—		—	—	—	—				—		—	—	—
WACHOVIA #101000020906	—		—	—	—		—		—	—	—	—				—		—	—	—
	—		—	—	—		—		—	—	—	—		—		—		—	—	—
Total Cash Receipts and Transfers	3,489.35		—	—	(77.43	)	(1,186.03	)	—	361.71	—	(443.17	)	4,834.27		3,489.35		—	—	3,489.35
			—	—	—		—		—	—	—	—		—		—
Cash Disbursements - Loans			—	—	—		—		—	—	—	—		—		—
			—	—	—		—		—	—	—	—		—		—
Loan Proceeds Checks																—				—
Expenses related to Loans	(1,464.60	)			(77.43	)	(1,033.00	)				(354.17	)			(1,464.60	)			(1,464.60	)
Subtotal - Loans	(1,464.60	)	—	—	(77.43	)	(1,033.00	)	—	—	—	(354.17	)	—		(1,464.60	)			(1,464.60	)
			—	—	—		—		—	—	—	—		—		—				—
			—	—	—		—		—	—	—	—		—		—				—
Cash Disbursements - Other				—	—		—		—	—	—	—		—		—				—
Advertising	—															—				—
Bank Charges	—															—		—	—	—
Claims Funding*	—															—				—
Company Auto	—															—		—	—	—
Computer Costs	341.00													341.00		341.00		—	—	341.00
Dues And Subscriptions	—															—		—	—	—
Employee Reimbursements - collections exp	272.71									361.71		(89.00	)			272.71		—	—	272.71
Equipment Rental	—															—		—	—	—
Fixed Assets	—															—		—	—	—
Forms & Printing	—															—		—	—	—
Insurance	—															—		—	—	—
Meals & Entertainment	—															—		—	—	—
Miscellaneous	—															—		—	—	—
Office Expense	—															—		—	—	—
Postage	231.58													231.58		231.58		—	—	231.58
Prepaid Expenses	—															—		—	—	—
Prepaid Software ABS	—															—		—	—	—
Professional Fees-Ordinary Course	1,399.31													1,399.31		1,399.31		—	—	1,399.31
Rent	820.00													820.00		820.00		—	—	820.00
Repairs & Maintenance	—															—		—	—	—
Roadgard	—															—		—	—	—
Seminars & Meetings	—															—		—	—	—
Taxes & Licenses	18.13													18.13		18.13		—	—	18.13
Telephone	—															—		—	—	—
Temporary Agency Staff	83.73													83.73		83.73		—	—	83.73
Travel	—															—		—	—	—
Utilities	(153.03	)					(153.03	)								(153.03	)	—	—	(153.03	)
Interest to Finova	—															—		—	—	—
Payroll Paid TTG	—															—		—	—	—
Payroll Paid SMC	—															—		—	—	—
Restructuring Officer	—															—		—	—	—
Insurance Renewal	—															—		—	—	—
Credit Insurance Payments	—															—		—	—	—
Pre-Filing Prepays	—															—		—	—	—
Deposit to Lender	—															—		—	—	—
US Trustee	—															—		—	—	—
Bankruptcy Professionals	—															—		—	—	—
Other	—															—		—	—	—
Total Other Cash Disbursements	3,013.43		—	—	—		(153.03	)	—	361.71	—	(89.00	)	2,893.75		3,013.43		—	—	3,013.43
																—		—	—	—
TOTAL ALL CASH DISBURSEMENTS	1,548.83		—	—	(77.43	)	(1,186.03	)	—	361.71	—	(443.17	)	2,893.75		1,548.83		—	—	1,548.83
				—	—		—		—	—	—	—		—
	(38,033.81	)	—	—	—		—		—	—	—	—		(38,033.81	)	(38,033.81	)	—	—	(38,033.81	)
				—	—		—		—	—	—	—		—
Book Balance per bank rec.	(38,033.81	)		—										(38,033.81	)

In re:	Case No.	03-13195
TICO Credit Corporation	Jointly Administered
SEE ATTACHED SCHEDULES	Reporting Period	May-05

SCHEDULE OF CASH RECEIPTS AND DISBURSEMENTS

Amounts reported should be per the debtor’s books, not the bank statements. The beginning cash should be the ending cash the prior month or, if this is the first report, the amount should be the balance on the date the petition was filed. The amounts reported in the “CURRENT MONTH - ACTUAL” column must equal the sum of the four bank account columns. The amounts reported in the “PROJECTED” columns should be taken from the SMALL BUSINESS INITIAL REPORT (FORM IR-1). Attach copies of the bank statements and the cash disbursements journal. The total disbursements journal must equal the total disbursements reported on this page. A bank reconciliation must be attached for each accounts. [See Mor-1 (Con’t)]

	Bank Accounts								Current Month				Cumulative Filing to Date
	Operating		Payroll		Tax		Other		Actual		Projected		Actual		Projected
Cash Beginning of Month
Receipts
Cash Sales
Accounts Receivable
Loans and Advances
Sale of Assets
Other (Attach List)
Transfers (From DIP ACCOUNTS)
Total Receipts	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00
Disbursements
Net Payroll
Payroll Taxes
Sales, Use & Other Taxes
Inventory Purchases
Secured/Rental/Leases
Insurance
Administrative
Selling
Other (Attach List)
Owner Draw*
Transfers (To Dip Accounts)
Professional fees
US Trustee Quarterly Fees
Court Costs
Total Disbursements	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00
Net Cash Flow
(Receipts less Disbursements)	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00
Cash - End of Month	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00

* COMPENSATION TO SOLE PROPRIETORS FOR SERVICES RENDERED TO BANKRUPTCY ESTATE

THE FOLLOWING SECTION MUST BE COMPLETED

Disbursements for calculating US Trustee Quarterly Fees: (From Current Month Actual Column)
Total Disbursements		33,403.54
Less: Transfers to Debtor in Possession Accounts
Plus: Estate Disbursements made by outside sources (i.e. from escrow accounts)
Total Disbursements for calculating US Trustee Quarterly Fees	$	33,403.54

FORM MOR-1

THE THAXTON GROUP
Cash Disbursements for TICO CREDIT CORPORATION, INC		Case #         03-13195	Case No.         03-13195
Monthly Court Report for	May-05
FED ID#	56-2258083

	Consolidated Totals		WACHOVIA DISBURSEMENT ACCOUNTS		WACHOVIA PAYROLL ACCOUNTS		Operating		Payroll	Other	Total
Beginning Cash Position	(39,974.33	)	(39,974.33	)	—		(39,974.33	)	—		(39,974.33	)
	—								—	—	—
TICO Cash Collected	—		—				—		—	—	—
SM Cash Collected	—						—		—	—	—
TIG Cash Collected	—						—		—	—	—
TPF Cash Collected	—						—		—	—	—
TCL Cash Collected	—						—		—	—	—
Other Income Collected	—						—		—	—	—
SUBTOTAL	—		—		—		—		—	—	—
	—						—		—	—	—
	—						—		—	—	—
GENERAL LEDGER DEPOSITS AND TRANSFERS	35,344.06		4,834.27		30,509.79		4,834.27		30,509.79	—	35,344.06
	—						—			—	—
	—						—		—	—	—
	—						—		—	—	—
	—						—		—	—	—
Total Cash Receipts and Transfers	35,344.06		4,834.27		30,509.79	—	4,834.27		30,509.79	—	35,344.06
Cash Disbursements - Loans
	—
Loan Proceeds Checks	—						—		—		—
Expenses related to Loans	—						—				—
Subtotal - Loans	—		—		—		—		—	—	—
			—
			—						—
Cash Disbursements - Other			—						—		—
Advertising	—		—				—		—		—
Bank Charges	—		—				—		—		—
Claims Funding*	—		—				—		—		—
Company Auto	—		—				—		—	—	—
Computer Costs	341.00		341.00				341.00		—	—	341.00
Dues And Subscriptions	—		—				—		—	—	—
Employee Reimbursements - collections exp	—		—				—		—	—	—
Equipment Rental	—		—				—		—	—	—
Fixed Assets	—		—				—		—	—	—
Forms & Printing	—		—				—		—	—	—
Insurance	—		—				—		—	—	—
Meals & Entertainment	—		—				—		—	—	—
Miscellaneous	—		—				—		—	—	—
Office Expense	—		—				—		—	—	—
Postage	231.58		231.58				231.58		—	—	231.58
Prepaid Expenses	—		—				—		—	—	—
Prepaid Software ABS	—		—				—		—	—	—
Professional Fees-Ordinary Course	1,399.31		1,399.31				1,399.31		—	—	1,399.31
Rent	820.00		820.00				820.00		—	—	820.00
Repairs & Maintenance	—		—				—		—	—	—
Roadgard	—		—				—		—	—	—
Seminars & Meetings	—		—				—		—	—	—
Taxes & Licenses	18.13		18.13				18.13		—	—	18.13
Telephone	—		—				—		—	—	—
Temporary Agency Staff	83.73		83.73				83.73		—	—	83.73
Travel	—		—				—		—	—	—
Utilities	—		—				—		—	—	—
Interest to Finova			—				—		—	—	—
Payroll Paid TTG	30,509.79		—		30,509.79		—		30,509.79	—	30,509.79
Payroll Paid SMC			—				—		—	—	—
Restructuring Officer	—		—				—		—	—	—
Insurance Renewal	—		—				—		—	—	—
Voyager Payment	—		—				—		—	—	—
Pre-Filing Prepays	—		—				—		—	—	—
Deposit to Lender	—		—				—		—	—	—
US Trustee	—		—				—		—	—	—
Bankruptcy Professionals	—		—				—		—	—	—
Other	—		—				—		—	—	—
Total Other Cash Disbursements	33,403.54		2,893.75		30,509.79	—	2,893.75		30,509.79	—	33,403.54
TOTAL ALL CASH DISBURSEMENTS	33,403.54		2,893.75		30,509.79	—	2,893.75		30,509.79	—	33,403.54
	(38,033.81	)	(38,033.81	)	—	—	(38,033.81	)	—	—	(38,033.81	)
Book Balance per bank rec.	(38,033.81	)	(38,033.81	)	—

In re:	Case No.	03-13194
TICO Credit Company of Virginia, Inc.	Jointly Administered
SEE ATTACHED SCHEDULES	Reporting Period	May-05

SCHEDULE OF CASH RECEIPTS AND DISBURSEMENTS

Amounts reported should be per the debtor’s books, not the bank statements. The beginning cash should be the ending cash the prior month or, if this is the first report, the amount should be the balance on the date the petition was filed. The amounts reported in the “CURRENT MONTH - ACTUAL” column must equal the sum of the four bank account columns. The amounts reported in the “PROJECTED” columns should be taken from the SMALL BUSINESS INITIAL REPORT (FORM IR-1). Attach copies of the bank statements and the cash disbursements journal. The total disbursements journal must equal the total disbursements reported on this page. A bank reconciliation must be attached for each accounts. [See Mor-1 (Con’t)]

	Bank Accounts								Current Month				Cumulative Filing to Date
	Operating		Payroll		Tax		Other		Actual		Projected		Actual		Projected
Cash Beginning of Month
Receipts
Cash Sales
Accounts Receivable
Loans and Advances
Sale of Assets
Other (Attach List)
Transfers (From DIP ACCOUNTS)
Total Receipts	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00
Disbursements
Net Payroll
Payroll Taxes
Sales, Use & Other Taxes
Inventory Purchases
Secured/Rental/Leases
Insurance
Administrative
Selling
Other (Attach List)
Owner Draw*
Transfers (To Dip Accounts)
Professional fees
US Trustee Quarterly Fees
Court Costs
Total Disbursements	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00
Net Cash Flow
(Receipts less Disbursements)	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00
Cash - End of Month	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00

* COMPENSATION TO SOLE PROPRIETORS FOR SERVICES RENDERED TO BANKRUPTCY ESTATE

THE FOLLOWING SECTION MUST BE COMPLETED

Disbursements for calculating US Trustee Quarterly Fees: (From Current Month Actual Column)
Total Disbursements		—
Less: Transfers to Debtor in Possession Accounts
Plus: Estate Disbursements made by outside sources (i.e. from escrow accounts)
Total Disbursements for calculating US Trustee Quarterly Fees	$	0.00

FORM MOR-1

THE THAXTON GROUP
Cash Disbursements for TICO VA		Case #         03-13194	Case No.         03-13194
Monthly Court Report for	May-05
FED ID#	57-1129678

	Consolidated Totals						Operating	Payroll	Other	Total
Beginning Cash Position		—	—	—	—		—	—	—	—
	—							—	—	—
TICO Cash Collected	—						—	—	—	—
SM Cash Collected	—						—	—	—	—
TIG Cash Collected	—						—	—	—	—
TPF Cash Collected	—						—	—	—	—
TCL Cash Collected	—						—	—	—	—
Other Income Collected	—						—	—	—	—
SUBTOTAL	—	—	—	—	—	—	—	—	—	—
	—						—	—	—	—
	—						—	—	—	—
GENERAL LEDGER DEPOSITS AND TRANSFERS	—						—	—	—	—
							—	—	—	—
	—	All Cash is included in TICO SC					—	—	—	—
	—						—	—	—	—
	—						—	—	—	—
Total Cash Receipts and Transfers	—	—	—	—	—	—	—	—	—	—
Cash Disbursements - Loans
Loan Proceeds Checks
Expenses related to Loans
Subtotal - Loans	—	—	—	—	—		—	—	—	—
Cash Disbursements - Other
Advertising
Bank Charges				—			—	—	—	—
Claims Funding*	—			—
Company Auto	—			—			—	—	—	—
Computer Costs	—			—			—	—	—	—
Dues And Subscriptions	—			—			—	—	—	—
Employee Reimbursements - collections exp	—			—			—	—	—	—
Equipment Rental	—			—			—	—	—	—
Fixed Assets	—			—			—	—	—	—
Forms & Printing	—			—			—	—	—	—
Insurance	—			—			—	—	—	—
Meals & Entertainment	—			—			—	—	—	—
Miscellaneous	—			—			—	—	—	—
Office Expense	—			—			—	—	—	—
Postage	—			—			—	—	—	—
Prepaid Expenses	—			—			—	—	—	—
Prepaid Software ABS	—			—			—	—	—	—
Professional Fees-Ordinary Course	—			—			—	—	—	—
Rent	—			—			—	—	—	—
Repairs & Maintenance	—			—			—	—	—	—
Roadgard	—			—			—	—	—	—
Seminars & Meetings	—			—			—	—	—	—
Taxes & Licenses	—			—			—	—	—	—
Telephone	—			—			—	—	—	—
Temporary Agency Staff	—			—			—	—	—	—
Travel	—			—			—	—	—	—
Utilities	—			—			—	—	—	—
Interest to Finova	—			—			—	—	—	—
Payroll Paid TTG	—			—			—	—	—	—
Payroll Paid SMC	—			—			—	—	—	—
Restructuring Officer	—			—			—	—	—	—
Insurance Renewal	—			—			—	—	—	—
Voyager Payment	—			—			—	—	—	—
Pre-Filing Prepays	—			—			—	—	—	—
Deposit to Lender	—			—			—	—	—	—
US Trustee	—			—			—	—	—	—
Bankruptcy Professionals	—			—			—	—	—	—
	—			—			—	—	—	—
Total Other Cash Disbursements	—	—	—	—	—	—	—	—	—	—
							—	—	—	—
TOTAL ALL CASH DISBURSEMENTS	—	—	—	—	—	—	—	—	—	—
	—	—	—	—	—	—	—	—	—	—
Book Balance per bank rec.			—	—	—

In re:	Case No.	03-13191
TICO Credit Company, Inc.	Jointly Administered
SEE ATTACHED SCHEDULES	Reporting Period	May-05

SCHEDULE OF CASH RECEIPTS AND DISBURSEMENTS

Amounts reported should be per the debtor’s books, not the bank statements. The beginning cash should be the ending cash the prior month or, if this is the first report, the amount should be the balance on the date the petition was filed. The amounts reported in the “CURRENT MONTH - ACTUAL” column must equal the sum of the four bank account columns. The amounts reported in the “PROJECTED” columns should be taken from the SMALL BUSINESS INITIAL REPORT (FORM IR-1). Attach copies of the bank statements and the cash disbursements journal. The total disbursements journal must equal the total disbursements reported on this page. A bank reconciliation must be attached for each accounts. [See Mor-1 (Con’t)]

	Bank Accounts								Current Month				Cumulative Filing to Date
	Operating		Payroll		Tax		Other		Actual		Projected		Actual		Projected
Cash Beginning of Month
Receipts
Cash Sales
Accounts Receivable
Loans and Advances
Sale of Assets
Other (Attach List)
Transfers (From DIP ACCOUNTS)
Total Receipts	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00
Disbursements
Net Payroll
Payroll Taxes
Sales, Use & Other Taxes
Inventory Purchases
Secured/Rental/Leases
Insurance
Administrative
Selling
Other (Attach List)
Owner Draw*
Transfers (To Dip Accounts)
Professional fees
US Trustee Quarterly Fees
Court Costs
Total Disbursements	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00
Net Cash Flow
(Receipts less Disbursements)	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00
Cash - End of Month	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00

* COMPENSATION TO SOLE PROPRIETORS FOR SERVICES RENDERED TO BANKRUPTCY ESTATE

THE FOLLOWING SECTION MUST BE COMPLETED

Disbursements for calculating US Trustee Quarterly Fees: (From Current Month Actual Column)
Total Disbursements		—
Less: Transfers to Debtor in Possession Accounts
Plus: Estate Disbursements made by outside sources (i.e. from escrow accounts)
Total Disbursements for calculating US Trustee Quarterly Fees	$	0.00

FORM MOR-1

THE THAXTON GROUP
Cash Disbursements for TICO-SC		Case #         03-13191	Case No.         03-13191
Monthly Court Report for	May-05
FED ID#	58-2358372

	Consolidated Totals		WACHOVIA DISBURSEMENT ACCOUNTS		WACHOVIA PAYROLL ACCOUNTS		Operating		Payroll	Other	Total
Beginning Cash Position	—		—		—		—		—	—	—
	—								—	—	—
TICO Cash Collected	—						—		—	—	—
SM Cash Collected	—						—		—	—	—
TIG Cash Collected	—						—		—	—	—
TPF Cash Collected	—						—		—	—	—
TCL Cash Collected	—						—		—	—	—
Other Income Collected	83.34		83.34				83.34		—	—	83.34
SUBTOTAL	83.34		83.34		—		83.34		—	—	83.34
	—						—		—	—	—
	—						—		—	—	—
GENERAL LEDGER DEPOSITS AND TRANSFERS	(83.34	)	(83.34	)	—		(83.34	)	—	—	(83.34	)
	—						—		—	—	—
	—						—		—	—	—
	—						—		—	—	—
	—						—		—	—	—
Total Cash Receipts and Transfers	—		—		—	—	—		—	—	—
Cash Disbursements - Loans
Loan Proceeds Checks	—		—				—		—	—	—
Expenses related to Loans	—		—				—		—	—	—
Subtotal - Loans	—		—		—		—		—	—	—
			—
			—
Cash Disbursements - Other			—
Advertising	—		—				—		—	—	—
Bank Charges	—		—				—		—	—	—
Claims Funding*	—		—				—		—	—	—
Company Auto	—		—				—		—	—	—
Computer Costs	—		—				—		—	—	—
Dues And Subscriptions	—		—				—		—	—	—
Employee Reimbursements - collections exp	—		—				—		—	—	—
Equipment Rental	—		—				—		—	—	—
Fixed Assets	—		—				—		—	—	—
Forms & Printing	—		—				—		—	—	—
Insurance	—		—				—		—	—	—
Meals & Entertainment	—		—				—		—	—	—
Miscellaneous	—		—				—		—	—	—
Office Expense	—		—				—		—	—	—
Postage	—		—				—		—	—	—
Prepaid Expenses	—		—				—		—	—	—
Prepaid Software ABS	—		—				—		—	—	—
Professional Fees-Ordinary Course	—		—				—		—	—	—
Rent	—		—				—		—	—	—
Repairs & Maintenance	—		—				—		—	—	—
Roadgard	—		—				—		—	—	—
Seminars & Meetings	—		—				—		—	—	—
Taxes & Licenses	—		—				—		—	—	—
Telephone	—		—				—		—	—	—
Temporary Agency Staff	—		—				—		—	—	—
Travel	—		—				—		—	—	—
Utilities	—		—				—		—	—	—
Interest to Finova	—		—				—		—	—	—
Payroll Paid TTG	—		—		—		—		—	—	—
Payroll Paid SMC	—		—				—		—	—	—
Restructuring Officer	—		—				—		—	—	—
Insurance Renewal	—		—				—		—	—	—
Voyager Payment	—		—				—		—	—	—
Pre-Filing Prepays	—		—				—		—	—	—
Deposit to Lender	—		—				—		—	—	—
US Trustee	—		—				—		—	—	—
Bankruptcy Professionals	—		—				—		—	—	—
Other	—						—		—	—	—
Total Other Cash Disbursements	—		—		—	—	—		—	—	—
										—	—
TOTAL ALL CASH DISBURSEMENTS	—		—		—	—	—		—	—	—
	—		—		—	—	—		—	—	—
Book Balance per bank rec.	—

In re:	Case No.	03-13196
TICO Credit Company of Alabama, Inc.	Jointly Administered
SEE ATTACHED SCHEDULES	Reporting Period	May-05

SCHEDULE OF CASH RECEIPTS AND DISBURSEMENTS

Amounts reported should be per the debtor’s books, not the bank statements. The beginning cash should be the ending cash the prior month or, if this is the first report, the amount should be the balance on the date the petition was filed. The amounts reported in the “CURRENT MONTH - ACTUAL” column must equal the sum of the four bank account columns. The amounts reported in the “PROJECTED” columns should be taken from the SMALL BUSINESS INITIAL REPORT (FORM IR-1). Attach copies of the bank statements and the cash disbursements journal. The total disbursements journal must equal the total disbursements reported on this page. A bank reconciliation must be attached for each accounts. [See Mor-1 (Con’t)]

	Bank Accounts								Current Month				Cumulative Filing to Date
	Operating		Payroll		Tax		Other		Actual		Projected		Actual		Projected
Cash Beginning of Month
Receipts
Cash Sales
Accounts Receivable
Loans and Advances
Sale of Assets
Other (Attach List)
Transfers (From DIP ACCOUNTS)
Total Receipts	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00
Disbursements
Net Payroll
Payroll Taxes
Sales, Use & Other Taxes
Inventory Purchases
Secured/Rental/Leases
Insurance
Administrative
Selling
Other (Attach List)
Owner Draw*
Transfers (To Dip Accounts)
Professional fees
US Trustee Quarterly Fees
Court Costs
Total Disbursements	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00
Net Cash Flow
(Receipts less Disbursements)	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00
Cash - End of Month	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00

* COMPENSATION TO SOLE PROPRIETORS FOR SERVICES RENDERED TO BANKRUPTCY ESTATE

THE FOLLOWING SECTION MUST BE COMPLETED

Disbursements for calculating US Trustee Quarterly Fees: (From Current Month Actual Column)
Total Disbursements		—
Less: Transfers to Debtor in Possession Accounts
Plus: Estate Disbursements made by outside sources (i.e. from escrow accounts)
Total Disbursements for calculating US Trustee Quarterly Fees	$	0.00

FORM MOR-1

THE THAXTON GROUP
Cash Disbursements for TICO ALABAMA		Case No.        03-13196	Case No.         03-13196
Monthly Court Report for	May-05
FED ID#	57-1109035

	Consolidated Totals	WACHOVIA DISBURSEMENT ACCOUNTS	WACHOVIA PAYROLL ACCOUNTS	Bank Vernon 176034601	Community Bank 45571377	Operating	Payroll	Other	Total
Beginning Cash Position	—	—	—	—	—	—	—		—
	—						—	—	—
TICO Cash Collected	—			—	—	—	—	—	—
SM Cash Collected	—					—	—	—	—
TIG Cash Collected	—					—	—	—	—
TPF Cash Collected	—					—	—	—	—
TCL Cash Collected	—					—	—	—	—
Other Income Collected	—					—	—	—	—
SUBTOTAL	—	—	—	—	—	—	—	—	—
	—					—	—	—	—
	—					—	—	—	—
GENERAL LEDGER DEPOSITS AND TRANSFERS	—	—	—	—	—	—	—	—	—
	—					—	—		—
	—					—	—	—	—
	—					—	—	—	—
	—					—	—	—	—
Total Cash Receipts and Transfers	—	—	—	—	—	—	—	—	—
Cash Disbursements - Loans
Loan Proceeds Checks	—	—				—	—		—
Expenses related to Loans	—	—				—	—		—
Subtotal - Loans	—	—	—	—	—	—	—	—	—
Cash Disbursements - Other
Advertising	—	—				—	—		—
Bank Charges	—	—		—		—	—		—
Claims Funding*	—	—							—
Company Auto	—	—				—	—	—	—
Computer Costs	—	—				—	—	—	—
Dues And Subscriptions	—	—				—	—	—	—
Employee Reimbursements - collections exp	—	—				—	—	—	—
Equipment Rental	—	—				—	—	—	—
Fixed Assets	—	—				—	—	—	—
Forms & Printing	—	—				—	—	—	—
Insurance	—	—				—	—	—	—
Meals & Entertainment	—	—				—	—	—	—
Miscellaneous	—	—				—	—	—	—
Office Expense	—	—				—	—	—	—
Postage	—	—				—	—	—	—
Prepaid Expenses	—	—				—	—	—	—
Prepaid Software ABS	—	—				—	—	—	—
Professional Fees-Ordinary Course	—	—				—	—	—	—
Rent	—	—				—	—	—	—
Repairs & Maintenance	—	—				—	—	—	—
Roadgard	—	—				—	—	—	—
Seminars & Meetings	—	—				—	—	—	—
Taxes & Licenses	—	—				—	—	—	—
Telephone	—	—				—	—	—	—
Temporary Agency Staff	—	—				—	—	—	—
Travel	—	—				—	—	—	—
Utilities	—	—				—	—	—	—
Interest to Finova	—	—				—	—	—	—
Payroll Paid TTG	—	—	—			—	—	—	—
Payroll Paid SMC	—	—				—	—	—	—
Restructuring Officer	—	—				—	—	—	—
Insurance Renewal	—	—				—	—	—	—
Voyager Payment	—	—				—	—	—	—
Pre-Filing Prepays	—	—				—	—	—	—
Deposit to Lender	—	—				—	—	—	—
US Trustee	—	—				—	—	—	—
Bankruptcy Professionals	—	—				—	—	—	—
Other	—	—				—	—	—	—
Total Other Cash Disbursements	—	—	—	—	—	—	—	—	—
						—	—	—	—
TOTAL ALL CASH DISBURSEMENTS	—	—	—	—	—	—	—	—	—
	—	—	—	—	—	—	—	—	—
Book Balance per bank rec.	—			—	—

In re:	Case No.	03-13193
TICO Credit Company of North Carolina, Inc.	Jointly Administered
SEE ATTACHED SCHEDULES	Reporting Period	May-05

SCHEDULE OF CASH RECEIPTS AND DISBURSEMENTS

Amounts reported should be per the debtor’s books, not the bank statements. The beginning cash should be the ending cash the prior month or, if this is the first report, the amount should be the balance on the date the petition was filed. The amounts reported in the “CURRENT MONTH - ACTUAL” column must equal the sum of the four bank account columns. The amounts reported in the “PROJECTED” columns should be taken from the SMALL BUSINESS INITIAL REPORT (FORM IR-1). Attach copies of the bank statements and the cash disbursements journal. The total disbursements journal must equal the total disbursements reported on this page. A bank reconciliation must be attached for each accounts. [See Mor-1 (Con’t)]

	Bank Accounts								Current Month				Cumulative Filing to Date
	Operating		Payroll		Tax		Other		Actual		Projected		Actual		Projected
Cash Beginning of Month
Receipts
Cash Sales
Accounts Receivable
Loans and Advances
Sale of Assets
Other (Attach List)
Transfers (From DIP ACCOUNTS)
Total Receipts	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00
Disbursements
Net Payroll
Payroll Taxes
Sales, Use & Other Taxes
Inventory Purchases
Secured/Rental/Leases
Insurance
Administrative
Selling
Other (Attach List)
Owner Draw*
Transfers (To Dip Accounts)
Professional fees
US Trustee Quarterly Fees
Court Costs
Total Disbursements	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00
Net Cash Flow
(Receipts less Disbursements)	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00
Cash - End of Month	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00

* COMPENSATION TO SOLE PROPRIETORS FOR SERVICES RENDERED TO BANKRUPTCY ESTATE

THE FOLLOWING SECTION MUST BE COMPLETED

Disbursements for calculating US Trustee Quarterly Fees: (From Current Month Actual Column)
Total Disbursements		—
Less: Transfers to Debtor in Possession Accounts
Plus: Estate Disbursements made by outside sources (i.e. from escrow accounts)
Total Disbursements for calculating US Trustee Quarterly Fees	$	0.00

FORM MOR-1

THE THAXTON GROUP
Cash Disbursements for TICO-NC		Case No.         03-13193	Case No.         03-13193
Monthly Court Report for	May-05
FED ID#	56-2058522

	Consolidated Totals	WACHOVIA DISBURSEMENT ACCOUNTS	WACHOVIA PAYROLL ACCOUNTS		Operating	Payroll	Other	Total
Beginning Cash Position	—				—	—	—	—
	—					—	—	—
TICO Cash Collected	—				—	—	—	—
SM Cash Collected	—				—	—	—	—
TIG Cash Collected	—				—	—	—	—
TPF Cash Collected	—				—	—	—	—
TCL Cash Collected	—				—	—	—	—
Other Income Collected	—				—	—	—	—
SUBTOTAL	—	—	—		—	—	—	—
	—				—	—	—	—
	—				—	—	—	—
GENERAL LEDGER DEPOSITS AND TRANSFERS	—	—	—		—	—	—	—
	—				—	—	—	—
	—				—	—	—	—
	—				—	—	—	—
	—				—	—	—	—
Total Cash Receipts and Transfers	—	—	—		—	—	—	—
Cash Disbursements - Loans
	—
Loan Proceeds Checks	—	—			—	—	—	—
Expenses related to Loans	—	—			—	—	—	—
Subtotal - Loans	—	—	—		—	—	—	—
		—
		—
Cash Disbursements - Other		—
Advertising	—	—			—	—	—	—
Bank Charges	—	—			—	—	—	—
Claims Funding*	—	—
Company Auto	—	—			—	—	—	—
Computer Costs	—	—			—	—	—	—
Dues And Subscriptions	—	—			—	—	—	—
Employee Reimbursements - collections exp	—	—			—	—	—	—
Equipment Rental	—	—			—	—	—	—
Fixed Assets	—	—			—	—	—	—
Forms & Printing	—	—			—	—	—	—
Insurance	—	—			—	—	—	—
Meals & Entertainment	—	—			—	—	—	—
Miscellaneous	—	—			—	—	—	—
Office Expense	—	—			—	—	—	—
Postage	—	—			—	—	—	—
Prepaid Expenses	—	—			—	—	—	—
Prepaid Software ABS	—	—			—	—	—	—
Professional Fees-Ordinary Course	—	—			—	—	—	—
Rent	—	—			—	—	—	—
Repairs & Maintenance	—	—			—	—	—	—
Roadgard	—	—			—	—	—	—
Seminars & Meetings	—	—			—	—	—	—
Taxes & Licenses	—	—			—	—	—	—
Telephone	—	—			—	—	—	—
Temporary Agency Staff	—	—			—	—	—	—
Travel	—	—			—	—	—	—
Utilities	—	—			—	—	—	—
Interest to Finova	—	—			—	—	—	—
Payroll Paid TTG	—	—	—		—	—	—	—
Payroll Paid SMC	—	—			—	—	—	—
Restructuring Officer	—	—			—	—	—	—
Insurance Renewal	—	—			—	—	—	—
Voyager Payment	—	—			—	—	—	—
Pre-Filing Prepays	—	—			—	—	—	—
Deposit to Lender	—	—			—	—	—	—
US Trustee	—	—			—	—	—	—
Bankruptcy Professionals	—	—			—	—	—	—
Other	—	—			—	—	—	—
Total Other Cash Disbursements	—	—	—	—	—	—	—	—
						—	—	—
TOTAL ALL CASH DISBURSEMENTS	—	—	—	—	—	—	—	—
	—	—	—	—	—	—	—	—
Book Balance per bank rec.	—	—

In re:	Case No.	03-13182
TICO Credit Company	Jointly Administered
SEE ATTACHED SCHEDULES	Reporting Period	May-05

SCHEDULE OF CASH RECEIPTS AND DISBURSEMENTS

Amounts reported should be per the debtor’s books, not the bank statements. The beginning cash should be the ending cash the prior month or, if this is the first report, the amount should be the balance on the date the petition was filed. The amounts reported in the “CURRENT MONTH - ACTUAL” column must equal the sum of the four bank account columns. The amounts reported in the “PROJECTED” columns should be taken from the SMALL BUSINESS INITIAL REPORT (FORM IR-1). Attach copies of the bank statements and the cash disbursements journal. The total disbursements journal must equal the total disbursements reported on this page. A bank reconciliation must be attached for each accounts. [See Mor-1 (Con’t)]

	Bank Accounts								Current Month				Cumulative Filing to Date
	Operating		Payroll		Tax		Other		Actual		Projected		Actual		Projected
Cash Beginning of Month
Receipts
Cash Sales
Accounts Receivable
Loans and Advances
Sale of Assets
Other (Attach List)
Transfers (From DIP ACCOUNTS)
Total Receipts	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00
Disbursements
Net Payroll
Payroll Taxes
Sales, Use & Other Taxes
Inventory Purchases
Secured/Rental/Leases
Insurance
Administrative
Selling
Other (Attach List)
Owner Draw*
Transfers (To Dip Accounts)
Professional fees
US Trustee Quarterly Fees
Court Costs
Total Disbursements	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00
Net Cash Flow
(Receipts less Disbursements)	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00
Cash - End of Month	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00

* COMPENSATION TO SOLE PROPRIETORS FOR SERVICES RENDERED TO BANKRUPTCY ESTATE

THE FOLLOWING SECTION MUST BE COMPLETED

Disbursements for calculating US Trustee Quarterly Fees: (From Current Month Actual Column)
Total Disbursements	(77.43	)
Less: Transfers to Debtor in Possession Accounts
Plus: Estate Disbursements made by outside sources (i.e. from escrow accounts)
Total Disbursements for calculating US Trustee Quarterly Fees	($77.43	)

FORM MOR-1

THE THAXTON GROUP
Cash Disbursements for TICO - DELAWARE		Case No.         03-13182
Monthly Court Report for	May-05
FED ID #	74-2873274

	Consolidated Totals		WACHOVIA DISBURSEMENT ACCOUNTS		Fifth Third Bank 1050032006	BB&T 5181006058	BB&T 5180186451	BB&T 5180158407	Ohio Valley 8012564	First National Bank 5711347	PNC Bank 3004243118	National City 754211488
Beginning Cash Position	—		—		—	—	—	—	—	—	—	—
	—
TICO Cash Collected	—
SM Cash Collected	—
TIG Cash Collected	—
TPF Cash Collected	—
TCL Cash Collected	—
Other Income Collected	—
SUBTOTAL	—		—		—	—	—	—	—	—	—	—
	—
	—
GENERAL LEDGER DEPOSITS AND TRANSFERS	(77.43	)	(77.43	)	—	—	—	—	—	—	—	—
	—
	—
	—
	—
Total Cash Receipts and Transfers	(77.43	)	(77.43	)	—	—	—	—	—	—	—	—
Cash Disbursements - Loans
Loan Proceeds Checks	—		—
Expenses related to Loans	(77.43	)	(77.43	)
Subtotal - Loans	(77.43	)	(77.43	)	—	—	—	—	—	—	—	—
			—
			—
Cash Disbursements - Other			—
Advertising	—		—
Bank Charges	—					—	—	—	—		—
Claims Funding*	—		—
Company Auto	—		—
Computer Costs	—		—
Dues And Subscriptions	—		—
Employee Reimbursements - collections exp	—		—
Equipment Rental	—		—
Fixed Assets	—		—
Forms & Printing	—		—
Insurance	—		—
Meals & Entertainment	—		—
Miscellaneous	—		—
Office Expense	—		—
Postage	—		—
Prepaid Expenses	—		—
Prepaid Software ABS	—		—
Professional Fees-Ordinary Course	—		—
Rent	—		—
Repairs & Maintenance	—		—
Roadgard	—		—
Seminars & Meetings	—		—
Taxes & Licenses	—		—
Telephone	—		—
Temporary Agency Staff	—		—
Travel	—		—
Utilities	—		—
Interest to Finova	—		—
Payroll Paid TTG	—		—
Payroll Paid SMC	—		—
Restructuring Officer	—		—
Insurance Renewal	—		—
Voyager Payment	—		—
Pre-Filing Prepays	—		—
Deposit to Lender	—		—
US Trustee	—		—
Bankruptcy Professionals	—		—
Other	—		—
Total Other Cash Disbursements	—		—		—	—	—	—	—	—	—	—
								—	—	—	—
TOTAL ALL CASH DISBURSEMENTS	(77.43	)	(77.43	)	—	—	—	—	—	—	—	—
	—		—		—	—	—	—	—	—	—
Book Balance per bank rec.	—		—		—	—	—	—	—	—	—	—

THE THAXTON GROUP
Cash Disbursements for TICO - DELAWARE		Case No.         03-13182	Case No.         03-13182
Monthly Court Report for	May-05
FED ID #	74-2873274

		Operating		Payroll	Other	Total
Beginning Cash Position		—		—	—	—
				—	—	—
TICO Cash Collected		—		—	—	—
SM Cash Collected		—		—	—	—
TIG Cash Collected		—		—	—	—
TPF Cash Collected		—		—	—	—
TCL Cash Collected		—		—	—	—
Other Income Collected		—		—	—	—
SUBTOTAL		—		—	—	—
		—		—	—	—
		—		—	—	—
GENERAL LEDGER DEPOSITS AND TRANSFERS		(77.43	)	—	—	(77.43	)
		—		—	—	—
		—		—	—	—
		—		—	—	—
		—		—	—	—
Total Cash Receipts and Transfers	—	(77.43	)	—	—	(77.43	)
Cash Disbursements - Loans
Loan Proceeds Checks		—				—
Expenses related to Loans		(77.43	)			(77.43	)
Subtotal - Loans		(77.43	)	—	—	(77.43	)
		—
Cash Disbursements - Other		—
Advertising		—		—	—	—
Bank Charges		—		—	—	—
Claims Funding*		—		—	—	—
Company Auto		—		—	—	—
Computer Costs		—		—	—	—
Dues And Subscriptions		—		—	—	—
Employee Reimbursements - collections exp		—		—	—	—
Equipment Rental		—		—	—	—
Fixed Assets		—		—	—	—
Forms & Printing		—		—	—	—
Insurance		—		—	—	—
Meals & Entertainment		—		—	—	—
Miscellaneous		—		—	—	—
Office Expense		—		—	—	—
Postage		—		—	—	—
Prepaid Expenses		—		—	—	—
Prepaid Software ABS		—		—	—	—
Professional Fees-Ordinary Course		—		—	—	—
Rent		—		—	—	—
Repairs & Maintenance		—		—	—	—
Roadgard		—		—	—	—
Seminars & Meetings		—		—	—	—
Taxes & Licenses		—		—	—	—
Telephone		—		—	—	—
Temporary Agency Staff		—		—	—	—
Travel		—		—	—	—
Utilities		—		—	—	—
Interest to Finova		—		—	—	—
Payroll Paid TTG		—		—	—	—
Payroll Paid SMC		—		—	—	—
Restructuring Officer		—		—	—	—
Insurance Renewal		—		—	—	—
Voyager Payment		—		—	—	—
Pre-Filing Prepays		—		—	—	—
Deposit to Lender		—		—	—	—
US Trustee		—		—	—	—
Bankruptcy Professionals		—		—	—	—
Other		—		—	—	—
Total Other Cash Disbursements	—	—		—	—	—
		—		—	—	—
TOTAL ALL CASH DISBURSEMENTS	—	(77.43	)	—	—	(77.43	)
	—	—		—	—	—
Book Balance per bank rec.

In re:	Case No.	03-13199
TICO Credit Company of Georgia, Inc.	Jointly Administered
SEE ATTACHED SCHEDULES	Reporting Period	May-05

SCHEDULE OF CASH RECEIPTS AND DISBURSEMENTS

Amounts reported should be per the debtor’s books, not the bank statements. The beginning cash should be the ending cash the prior month or, if this is the first report, the amount should be the balance on the date the petition was filed. The amounts reported in the “CURRENT MONTH - ACTUAL” column must equal the sum of the four bank account columns. The amounts reported in the “PROJECTED” columns should be taken from the SMALL BUSINESS INITIAL REPORT (FORM IR-1). Attach copies of the bank statements and the cash disbursements journal. The total disbursements journal must equal the total disbursements reported on this page. A bank reconciliation must be attached for each accounts. [See Mor-1 (Con’t)]

	Bank Accounts								Current Month				Cumulative Filing to Date
	Operating		Payroll		Tax		Other		Actual		Projected		Actual		Projected
Cash Beginning of Month
Receipts
Cash Sales
Accounts Receivable
Loans and Advances
Sale of Assets
Other (Attach List)
Transfers (From DIP ACCOUNTS)
Total Receipts	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00
Disbursements
Net Payroll
Payroll Taxes
Sales, Use & Other Taxes
Inventory Purchases
Secured/Rental/Leases
Insurance
Administrative
Selling
Other (Attach List)
Owner Draw*
Transfers (To Dip Accounts)
Professional fees
US Trustee Quarterly Fees
Court Costs
Total Disbursements	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00
Net Cash Flow
(Receipts less Disbursements)	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00
Cash - End of Month	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00

* COMPENSATION TO SOLE PROPRIETORS FOR SERVICES RENDERED TO BANKRUPTCY ESTATE

THE FOLLOWING SECTION MUST BE COMPLETED

Disbursements for calculating US Trustee Quarterly Fees: (From Current Month Actual Column)
Total Disbursements		—
Less: Transfers to Debtor in Possession Accounts
Plus: Estate Disbursements made by outside sources (i.e. from escrow accounts)
Total Disbursements for calculating US Trustee Quarterly Fees	$	0.00

FORM MOR-1

THE THAXTON GROUP
Cash Disbursements for TICO Credit of Georgia, Inc.		Case #         03-13199	Case No.         03-13199
Monthly Court Report for	May-05
FED ID#	57-1110723

	Consolidated Totals	WACHOVIA DISBURSEMENT ACCOUNTS	WACHOVIA PAYROLL ACCOUNTS		Operating	Payroll	Other	Total
Beginning Cash Position	—				—	—	—	—
	—					—	—	—
TICO Cash Collected	—				—	—	—	—
SM Cash Collected	—				—	—	—	—
TIG Cash Collected	—				—	—	—	—
TPF Cash Collected	—				—	—	—	—
TCL Cash Collected	—				—	—	—	—
Other Income Collected	—				—	—	—	—
SUBTOTAL	—	—	—		—	—	—	—
	—				—	—	—	—
	—				—	—	—	—
GENERAL LEDGER DEPOSITS AND TRANSFERS	—	—	—		—	—	—	—
	—				—	—	—	—
	—				—	—	—	—
	—				—	—	—	—
	—				—	—	—	—
Total Cash Receipts and Transfers	—	—	—		—	—	—	—
Cash Disbursements - Loans
Loan Proceeds Checks	—	—			—			—
Expenses related to Loans	—	—			—			—
Subtotal - Loans	—	—	—		—	—	—	—
Cash Disbursements - Other		—
Advertising	—	—			—			—
Bank Charges	—	—			—	—	—	—
Claims Funding*	—	—			—			—
Company Auto	—	—			—	—	—	—
Computer Costs	—	—			—	—	—	—
Dues And Subscriptions	—	—			—	—	—	—
Employee Reimbursements - collections exp	—	—			—	—	—	—
Equipment Rental	—	—			—	—	—	—
Fixed Assets	—	—			—	—	—	—
Forms & Printing	—	—			—	—	—	—
Insurance	—	—			—	—	—	—
Meals & Entertainment	—	—			—	—	—	—
Miscellaneous	—	—			—	—	—	—
Office Expense	—	—			—	—	—	—
Postage	—	—			—	—	—	—
Prepaid Expenses	—	—			—	—	—	—
Prepaid Software ABS	—	—			—	—	—	—
Professional Fees-Ordinary Course	—	—			—	—	—	—
Rent	—	—			—	—	—	—
Repairs & Maintenance	—	—			—	—	—	—
Roadgard	—	—			—	—	—	—
Seminars & Meetings	—	—			—	—	—	—
Taxes & Licenses	—	—			—	—	—	—
Telephone	—	—			—	—	—	—
Temporary Agency Staff	—	—			—	—	—	—
Travel	—	—			—	—	—	—
Utilities	—	—			—	—	—	—
Interest to Finova	—	—			—	—	—	—
Payroll Paid TTG	—	—	—		—	—	—	—
Payroll Paid SMC	—	—			—	—	—	—
Restructuring Officer	—	—			—	—	—	—
Insurance Renewal	—	—			—	—	—	—
Voyager Payment	—	—			—	—	—	—
Pre-Filing Prepays	—	—			—	—	—	—
Deposit to Lender	—	—			—	—	—	—
US Trustee	—	—			—	—	—	—
Bankruptcy Professionals	—				—	—	—	—
Other	—	—			—	—	—	—
Total Other Cash Disbursements	—	—	—	—	—	—	—	—
						—	—	—
TOTAL ALL CASH DISBURSEMENTS	—	—	—	—	—	—	—	—
	—	—	—	—	—	—	—	—
Book Balance per bank rec.	—

In re:	Case No.	03-13200
Modern Finance dba TICO Credit Company	Jointly Administered
SEE ATTACHED SCHEDULES	Reporting Period	May-05

SCHEDULE OF CASH RECEIPTS AND DISBURSEMENTS

Amounts reported should be per the debtor’s books, not the bank statements. The beginning cash should be the ending cash the prior month or, if this is the first report, the amount should be the balance on the date the petition was filed. The amounts reported in the “CURRENT MONTH - ACTUAL” column must equal the sum of the four bank account columns. The amounts reported in the “PROJECTED” columns should be taken from the SMALL BUSINESS INITIAL REPORT (FORM IR-1). Attach copies of the bank statements and the cash disbursements journal. The total disbursements journal must equal the total disbursements reported on this page. A bank reconciliation must be attached for each accounts. [See Mor-1 (Con’t)]

	Bank Accounts								Current Month				Cumulative Filing to Date
	Operating		Payroll		Tax		Other		Actual		Projected		Actual		Projected
Cash Beginning of Month
Receipts
Cash Sales
Accounts Receivable
Loans and Advances
Sale of Assets
Other (Attach List)
Transfers (From DIP ACCOUNTS)
Total Receipts	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00
Disbursements
Net Payroll
Payroll Taxes
Sales, Use & Other Taxes
Inventory Purchases
Secured/Rental/Leases
Insurance
Administrative
Selling
Other (Attach List)
Owner Draw*
Transfers (To Dip Accounts)
Professional fees
US Trustee Quarterly Fees
Court Costs
Total Disbursements	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00
Net Cash Flow
(Receipts less Disbursements)	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00
Cash - End of Month	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00

* COMPENSATION TO SOLE PROPRIETORS FOR SERVICES RENDERED TO BANKRUPTCY ESTATE

THE FOLLOWING SECTION MUST BE COMPLETED

Disbursements for calculating US Trustee Quarterly Fees: (From Current Month Actual Column)
Total Disbursements		361.71
Less: Transfers to Debtor in Possession Accounts
Plus: Estate Disbursements made by outside sources (i.e. from escrow accounts)
Total Disbursements for calculating US Trustee Quarterly Fees	$	361.71

FORM MOR-1

THE THAXTON GROUP
Cash Disbursements for TICO-OH-MOD		Case No.        03-13200	Case No.         03-13200
Monthly Court Report for	May-05
FED ID#	31-4256360

	Consolidated Totals		WACHOVIA DISBURSEMENT ACCOUNTS		WACHOVIA PAYROLL ACCOUNTS	National City 394058175	Operating		Payroll	Other	Total
Beginning Cash Position	(0.00	)	—		—		(0.00	)	—	—	(0.00	)
	—								—	—	—
TICO Cash Collected	20,737.36		20,737.36				20,737.36		—	—	20,737.36
SM Cash Collected	—						—		—	—	—
TIG Cash Collected	—						—		—	—	—
TPF Cash Collected	—						—		—	—	—
TCL Cash Collected	—						—		—	—	—
Other Income Collected	13.42		13.42				13.42		—	—	13.42
SUBTOTAL	20,750.78		20,750.78		—	—	20,750.78		—	—	20,750.78
	—						—		—	—	—
	—						—		—	—	—
GENERAL LEDGER DEPOSITS AND TRANSFERS	(20,389.07	)	(20,389.07	)	—		(20,389.07	)	—	—	(20,389.07	)
	—						—		—	—	—
	—						—		—	—	—
	—						—		—	—	—
	—						—		—	—	—
Total Cash Receipts and Transfers	361.71		361.71		—	—	361.71		—	—	361.71
Cash Disbursements - Loans
Loan Proceeds Checks	—		—				—		—	—	—
Expenses related to Loans	—		—				—		—	—	—
Subtotal - Loans	—		—		—	—	—		—	—	—
Cash Disbursements - Other
Advertising			—
Bank Charges	—		—			—	—		—	—	—
Claims Funding*	—		—								—
Company Auto	—		—				—		—	—	—
Computer Costs	—		—				—		—	—	—
Dues And Subscriptions	—		—				—		—	—	—
Employee Reimbursements - collections exp	361.71		361.71				361.71		—	—	361.71
Equipment Rental	—		—				—		—	—	—
Fixed Assets	—		—				—		—	—	—
Forms & Printing	—		—				—		—	—	—
Insurance	—		—				—		—	—	—
Meals & Entertainment	—		—				—		—	—	—
Miscellaneous	—		—				—		—	—	—
Office Expense	—		—				—		—	—	—
Postage	—		—				—		—	—	—
Prepaid Expenses	—		—				—		—	—	—
Prepaid Software ABS	—		—				—		—	—	—
Professional Fees-Ordinary Course	—		—				—		—	—	—
Rent	—		—				—		—	—	—
Repairs & Maintenance	—		—				—		—	—	—
Roadgard	—		—				—		—	—	—
Seminars & Meetings	—		—				—		—	—	—
Taxes & Licenses	—		—				—		—	—	—
Telephone	—		—				—		—	—	—
Temporary Agency Staff	—		—				—		—	—	—
Travel	—		—				—		—	—	—
Utilities	—		—				—		—	—	—
Interest to Finova	—		—				—		—	—	—
Payroll Paid TTG	—		—		—		—		—	—	—
Payroll Paid SMC	—		—				—		—	—	—
Restructuring Officer	—		—				—		—	—	—
Insurance Renewal	—		—				—		—	—	—
Voyager Payment	—		—				—		—	—	—
Pre-Filing Prepays	—		—				—		—	—	—
Deposit to Lender	—		—				—		—	—	—
US Trustee	—		—				—		—	—	—
Bankruptcy Professionals	—		—				—		—	—	—
Other	—		—				—		—	—	—
Total Other Cash Disbursements	361.71		361.71		—	—	361.71		—	—	361.71
											—
TOTAL ALL CASH DISBURSEMENTS	361.71		361.71		—	—	361.71		—	—	361.71
	(0.00	)	(0.00	)	—	—	(0.00	)	—	—	(0.00	)
Book Balance per bank rec.	(0.00	)				—

In re:	Case No.	03-13190
Modern Central Recovery	Jointly Administered
SEE ATTACHED SCHEDULES	Reporting Period	May-05

SCHEDULE OF CASH RECEIPTS AND DISBURSEMENTS

Amounts reported should be per the debtor’s books, not the bank statements. The beginning cash should be the ending cash the prior month or, if this is the first report, the amount should be the balance on the date the petition was filed. The amounts reported in the “CURRENT MONTH - ACTUAL” column must equal the sum of the four bank account columns. The amounts reported in the “PROJECTED” columns should be taken from the SMALL BUSINESS INITIAL REPORT (FORM IR-1). Attach copies of the bank statements and the cash disbursements journal. The total disbursements journal must equal the total disbursements reported on this page. A bank reconciliation must be attached for each accounts. [See Mor-1 (Con’t)]

	Bank Accounts								Current Month				Cumulative Filing to Date
	Operating		Payroll		Tax		Other		Actual		Projected		Actual		Projected
Cash Beginning of Month
Receipts
Cash Sales
Accounts Receivable
Loans and Advances
Sale of Assets
Other (Attach List)
Transfers (From DIP ACCOUNTS)
Total Receipts	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00
Disbursements
Net Payroll
Payroll Taxes
Sales, Use & Other Taxes
Inventory Purchases
Secured/Rental/Leases
Insurance
Administrative
Selling
Other (Attach List)
Owner Draw*
Transfers (To Dip Accounts)
Professional fees
US Trustee Quarterly Fees
Court Costs
Total Disbursements	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00
Net Cash Flow
(Receipts less Disbursements)	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00
Cash - End of Month	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00

* COMPENSATION TO SOLE PROPRIETORS FOR SERVICES RENDERED TO BANKRUPTCY ESTATE

THE FOLLOWING SECTION MUST BE COMPLETED

Disbursements for calculating US Trustee Quarterly Fees: (From Current Month Actual Column)
Total Disbursements		—
Less: Transfers to Debtor in Possession Accounts
Plus: Estate Disbursements made by outside sources (i.e. from escrow accounts)
Total Disbursements for calculating US Trustee Quarterly Fees	$	0.00

FORM MOR-1

THE THAXTON GROUP
Cash Disbursements for Modern Central Recovery		Case #        03-13190	Case No.         03-13190
Monthly Court Report for	May-05
FED ID#	27-9200069

	Consolidated Totals		WACHOVIA PAYROLL ACCOUNTS		Operating	Payroll	Other	Total
Beginning Cash Position	—	—			—	—	—	—
	—					—	—	—
TICO Cash Collected	—				—	—	—	—
SM Cash Collected	—				—	—	—	—
TIG Cash Collected	—				—	—	—	—
TPF Cash Collected	—				—	—	—	—
TCL Cash Collected	—				—	—	—	—
Other Income Collected	—				—	—	—	—
SUBTOTAL	—	—	—	—	—	—	—	—
	—				—	—	—	—
	—				—	—	—	—
GENERAL LEDGER DEPOSITS AND TRANSFERS	—		—		—	—	—	—
					—	—	—	—
	—				—	—	—	—
	—				—	—	—	—
	—				—	—	—	—
Total Cash Receipts and Transfers	—	—	—	—	—	—	—	—
Cash Disbursements - Loans
Loan Proceeds Checks
Expenses related to Loans
Subtotal - Loans	—	—	—		—	—	—	—
Cash Disbursements - Other
Advertising
Bank Charges	—				—	—	—	—
Claims Funding*	—
Company Auto	—				—	—	—	—
Computer Costs	—				—	—	—	—
Dues And Subscriptions	—				—	—	—	—
Employee Reimbursements - collections exp	—				—	—	—	—
Equipment Rental	—				—	—	—	—
Fixed Assets	—				—	—	—	—
Forms & Printing	—				—	—	—	—
Insurance	—				—	—	—	—
Meals & Entertainment	—				—	—	—	—
Miscellaneous	—				—	—	—	—
Office Expense	—				—	—	—	—
Postage	—				—	—	—	—
Prepaid Expenses	—				—	—	—	—
Prepaid Software ABS	—				—	—	—	—
Professional Fees-Ordinary Course	—				—	—	—	—
Rent	—				—	—	—	—
Repairs & Maintenance	—				—	—	—	—
Roadgard	—				—	—	—	—
Seminars & Meetings	—				—	—	—	—
Taxes & Licenses	—				—	—	—	—
Telephone	—				—	—	—	—
Temporary Agency Staff	—				—	—	—	—
Travel	—				—	—	—	—
Utilities	—				—	—	—	—
Interest to Finova	—				—	—	—	—
Payroll Paid TTG	—		—		—	—	—	—
Payroll Paid SMC	—				—	—	—	—
Restructuring Officer	—				—	—	—	—
Insurance Renewal	—				—	—	—	—
Voyager Payment	—				—	—	—	—
Pre-Filing Prepays	—				—	—	—	—
Deposit to Lender	—				—	—	—	—
US Trustee	—				—	—	—	—
Bankruptcy Professionals	—				—	—	—	—
	—				—	—	—	—
Total Other Cash Disbursements	—	—	—	—	—	—	—	—
					—	—	—	—
TOTAL ALL CASH DISBURSEMENTS	—	—	—	—	—	—	—	—
	—	—	—	—	—	—	—	—
Book Balance per bank rec.	0.00	—	—

In re:	Case No.	03-13201
TICO Credit Company	Jointly Administered
SEE ATTACHED SCHEDULES	Reporting Period	May-05

SCHEDULE OF CASH RECEIPTS AND DISBURSEMENTS

Amounts reported should be per the debtor’s books, not the bank statements. The beginning cash should be the ending cash the prior month or, if this is the first report, the amount should be the balance on the date the petition was filed. The amounts reported in the “CURRENT MONTH - ACTUAL” column must equal the sum of the four bank account columns. The amounts reported in the “PROJECTED” columns should be taken from the SMALL BUSINESS INITIAL REPORT (FORM IR-1). Attach copies of the bank statements and the cash disbursements journal. The total disbursements journal must equal the total disbursements reported on this page. A bank reconciliation must be attached for each accounts. [See Mor-1 (Con’t)]

	Bank Accounts								Current Month				Cumulative Filing to Date
	Operating		Payroll		Tax		Other		Actual		Projected		Actual		Projected
Cash Beginning of Month
Receipts
Cash Sales
Accounts Receivable
Loans and Advances
Sale of Assets
Other (Attach List)
Transfers (From DIP ACCOUNTS)
Total Receipts	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00
Disbursements
Net Payroll
Payroll Taxes
Sales, Use & Other Taxes
Inventory Purchases
Secured/Rental/Leases
Insurance
Administrative
Selling
Other (Attach List)
Owner Draw*
Transfers (To Dip Accounts)
Professional fees
US Trustee Quarterly Fees
Court Costs
Total Disbursements	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00
Net Cash Flow
(Receipts less Disbursements)	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00
Cash - End of Month	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00

* COMPENSATION TO SOLE PROPRIETORS FOR SERVICES RENDERED TO BANKRUPTCY ESTATE

THE FOLLOWING SECTION MUST BE COMPLETED

Disbursements for calculating US Trustee Quarterly Fees: (From Current Month Actual Column)
Total Disbursements	(1,186.03)
Less: Transfers to Debtor in Possession Accounts
Plus: Estate Disbursements made by outside sources (i.e. from escrow accounts)
Total Disbursements for calculating US Trustee Quarterly Fees	($1,186.03)

FORM MOR-1

THE THAXTON GROUP
Cash Disbursements for TICO MISSISSIPPI		Case No.        03-13201	Case No.         03-13201
Monthly Court Report for	May-05
FED ID#	64-0560143

	Consolidated Totals		WACHOVIA DISBURSEMENT ACCOUNTS			Operating		Payroll	Other	Total
Beginning Cash Position	—		—			—				—
	—							—	—	—
TICO Cash Collected	—					—		—	—	—
SM Cash Collected	—					—		—	—	—
TIG Cash Collected	—					—		—	—	—
TPF Cash Collected	—					—		—	—	—
TCL Cash Collected	—					—		—	—	—
Other Income Collected	491.68		491.68			491.68		—	—	491.68
SUBTOTAL	491.68		491.68		—	491.68		—	—	491.68
	—					—		—	—	—
	—					—		—	—	—
GENERAL LEDGER DEPOSITS AND TRANSFERS	(1,677.71	)	(1,677.71	)		(1,677.71	)	—	—	(1,677.71	)
	—					—			—	—
Funds Received From Sale of Tico Mississippi - sent directly to Finova	—					—		—	—	—
Holdback, Deposits and Escrows	—					—		—	—	—
	—					—		—	—	—
Total Cash Receipts and Transfers	(1,186.03	)	(1,186.03	)	—	(1,186.03	)	—	—	(1,186.03	)
Cash Disbursements - Loans
Loan Proceeds Checks	—		—			—		—	—	—
Expenses related to Loans	(1,033.00	)	(1,033.00	)		(1,033.00	)	—	—	(1,033.00	)
Subtotal - Loans	(1,033.00	)	(1,033.00	)		(1,033.00	)	—	—	(1,033.00	)
Cash Disbursements - Other	—
Advertising	—		—			—		—	—	—
Bank Charges	—		—			—		—	—	—
Claims Funding*	—		—			—		—	—	—
Company Auto	—		—			—		—	—	—
Computer Costs	—		—			—		—	—	—
Dues And Subscriptions	—		—			—		—	—	—
Employee Reimbursements - collections exp	—		—			—		—	—	—
Equipment Rental	—		—			—		—	—	—
Fixed Assets	—		—			—		—	—	—
Forms & Printing	—		—			—		—	—	—
Insurance	—		—			—		—	—	—
Meals & Entertainment	—		—			—		—	—	—
Miscellaneous	—		—			—		—	—	—
Office Expense	—		—			—		—	—	—
Postage	—		—			—		—	—	—
Prepaid Expenses	—		—			—		—	—	—
Prepaid Software ABS	—		—			—		—	—	—
Professional Fees-Ordinary Course	—		—			—		—	—	—
Rent	—		—			—		—	—	—
Repairs & Maintenance	—		—			—		—	—	—
Roadgard	—		—			—		—	—	—
Seminars & Meetings	—		—			—		—	—	—
Taxes & Licenses	—		—			—		—	—	—
Telephone	—		—			—		—	—	—
Temporary Agency Staff	—		—			—		—	—	—
Travel	—		—			—		—	—	—
Utilities	(153.03	)	(153.03	)		(153.03	)	—	—	(153.03	)
Interest to Finova	—		—			—		—	—	—
Payroll Paid TTG	—		—			—		—	—	—
Payroll Paid SMC	—		—			—		—	—	—
Restructuring Officer	—		—			—		—	—	—
Insurance Renewal	—		—			—		—	—	—
Voyager Payment	—		—			—		—	—	—
Pre-Filing Prepays	—		—			—		—	—	—
Proceeds to Lender	—					—		—	—	—
US Trustee	—		—			—		—	—	—
Bankruptcy Professionals	—		—			—		—	—	—
Other - payment to Investment Banker	—					—		—	—	—
Total Other Cash Disbursements	(153.03	)	(153.03	)		(153.03	)	—	—	(153.03	)
TOTAL ALL CASH DISBURSEMENTS	(1,186.03	)	(1,186.03	)		(1,186.03	)	—	—	(1,186.03	)
	—		—			—		—	—	—
Book Balance per bank rec.	—
	—

In re:	Case No.	03-13203
TICO Credit Company	Jointly Administered
SEE ATTACHED SCHEDULES	Reporting Period	May-05

SCHEDULE OF CASH RECEIPTS AND DISBURSEMENTS

Amounts reported should be per the debtor’s books, not the bank statements. The beginning cash should be the ending cash the prior month or, if this is the first report, the amount should be the balance on the date the petition was filed. The amounts reported in the “CURRENT MONTH - ACTUAL” column must equal the sum of the four bank account columns. The amounts reported in the “PROJECTED” columns should be taken from the SMALL BUSINESS INITIAL REPORT (FORM IR-1). Attach copies of the bank statements and the cash disbursements journal. The total disbursements journal must equal the total disbursements reported on this page. A bank reconciliation must be attached for each accounts. [See Mor-1 (Con’t)]

	Bank Accounts								Current Month				Cumulative Filing to Date
	Operating		Payroll		Tax		Other		Actual		Projected		Actual		Projected
Cash Beginning of Month
Receipts
Cash Sales
Accounts Receivable
Loans and Advances
Sale of Assets
Other (Attach List)
Transfers (From DIP ACCOUNTS)
Total Receipts	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00
Disbursements
Net Payroll
Payroll Taxes
Sales, Use & Other Taxes
Inventory Purchases
Secured/Rental/Leases
Insurance
Administrative
Selling
Other (Attach List)
Owner Draw*
Transfers (To Dip Accounts)
Professional fees
US Trustee Quarterly Fees
Court Costs
Total Disbursements	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00
Net Cash Flow
(Receipts less Disbursements)	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00
Cash - End of Month	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00

* COMPENSATION TO SOLE PROPRIETORS FOR SERVICES RENDERED TO BANKRUPTCY ESTATE

THE FOLLOWING SECTION MUST BE COMPLETED

Disbursements for calculating US Trustee Quarterly Fees: (From Current Month Actual Column)
Total Disbursements	(443.17)
Less: Transfers to Debtor in Possession Accounts
Plus: Estate Disbursements made by outside sources (i.e. from escrow accounts)
Total Disbursements for calculating US Trustee Quarterly Fees	($443.17)

FORM MOR-1

THE THAXTON GROUP
Cash Disbursements for TICO TENNESSEE		Case No.         03-13203	Case No.         03-13203
Monthly Court Report for	May-05
FED ID#	75-2714829

	Consolidated Totals		WACHOVIA DISBURSEMENT ACCOUNTS		WACHOVIA PAYROLL ACCOUNTS	First Federal 163323989	Operating		Payroll	Other	Total
Beginning Cash Position	—		—		—	—	—		—	—	—
	—						—		—	—	—
TICO Cash Collected	—						—		—	—	—
SM Cash Collected	—						—		—	—	—
TIG Cash Collected	—						—		—	—	—
TPF Cash Collected	—						—		—	—	—
TCL Cash Collected	—						—		—	—	—
Other Income Collected	25.00		25.00				25.00		—	—	25.00
SUBTOTAL	25.00		25.00		—	—	25.00		—	—	25.00
	—						—		—	—	—
	—						—		—	—	—
GENERAL LEDGER DEPOSITS AND TRANSFERS	(468.17	)	(468.17	)	—	—	(468.17	)	—	—	(468.17	)
	—						—		—	—	—
	—						—		—	—	—
	—						—		—	—	—
	—						—		—	—	—
Total Cash Receipts and Transfers	(443.17	)	(443.17	)	—	—	(443.17	)	—	—	(443.17	)
							—
Cash Disbursements - Loans							—
							—
Loan Proceeds Checks	—		—				—		—	—	—
Expenses related to Loans	(354.17	)	(354.17	)			(354.17	)	—	—	(354.17	)
Subtotal - Loans	(354.17	)	(354.17	)	—	—	(354.17	)	—	—	(354.17	)
							—
							—
Cash Disbursements - Other							—
Advertising	—		—				—		—	—	—
Bank Charges	—		—				—		—	—	—
Claims Funding*	—		—				—		—	—	—
Company Auto	—		—				—		—	—	—
Computer Costs	—		—				—		—	—	—
Dues And Subscriptions	—		—				—		—	—	—
Employee Reimbursements - collections exp	(89.00	)	(89.00	)			(89.00	)	—	—	(89.00	)
Equipment Rental	—		—				—		—	—	—
Fixed Assets	—		—				—		—	—	—
Forms & Printing	—		—				—		—	—	—
Insurance	—		—				—		—	—	—
Meals & Entertainment	—		—				—		—	—	—
Miscellaneous	—		—				—		—	—	—
Office Expense	—		—				—		—	—	—
Postage	—		—				—		—	—	—
Prepaid Expenses	—		—				—		—	—	—
Prepaid Software ABS	—		—				—		—	—	—
Professional Fees-Ordinary Course	—		—				—		—	—	—
Rent	—		—				—		—	—	—
Repairs & Maintenance	—		—				—		—	—	—
Roadgard	—		—				—		—	—	—
Seminars & Meetings	—		—				—		—	—	—
Taxes & Licenses	—		—				—		—	—	—
Telephone	—		—				—		—	—	—
Temporary Agency Staff	—		—				—		—	—	—
Travel	—		—				—		—	—	—
Utilities	—		—				—		—	—	—
Interest to Finova	—		—				—		—	—	—
Payroll Paid TTG	—		—		—		—		—	—	—
Payroll Paid SMC	—		—				—		—	—	—
Restructuring Officer	—		—				—		—	—	—
Insurance Renewal	—		—				—		—	—	—
Voyager Payment	—		—				—		—	—	—
Pre-Filing Prepays	—		—				—		—	—	—
Deposit to Lender	—		—				—		—	—	—
US Trustee	—		—				—		—	—	—
Bankruptcy Professionals	—		—				—		—	—	—
Other	—		—				—		—	—	—
Total Other Cash Disbursements	(89.00	)	(89.00	)	—	—	(89.00	)	—	—	(89.00	)
TOTAL ALL CASH DISBURSEMENTS	(443.17	)	(443.17	)	—	—	(443.17	)	—	—	(443.17	)
	—		—		—	—	—		—	—	—
Book Balance per bank rec.	—					—

In re:	Case No.	03-13197
TICO Credit Company of Tennessee, Inc.	Jointly Administered
SEE ATTACHED SCHEDULES	Reporting Period	May-05

SCHEDULE OF CASH RECEIPTS AND DISBURSEMENTS

Amounts reported should be per the debtor’s books, not the bank statements. The beginning cash should be the ending cash the prior month or, if this is the first report, the amount should be the balance on the date the petition was filed. The amounts reported in the “CURRENT MONTH - ACTUAL” column must equal the sum of the four bank account columns. The amounts reported in the “PROJECTED” columns should be taken from the SMALL BUSINESS INITIAL REPORT (FORM IR-1). Attach copies of the bank statements and the cash disbursements journal. The total disbursements journal must equal the total disbursements reported on this page. A bank reconciliation must be attached for each accounts. [See Mor-1 (Con’t)]

	Bank Accounts								Current Month				Cumulative Filing to Date
	Operating		Payroll		Tax		Other		Actual		Projected		Actual		Projected
Cash Beginning of Month
Receipts
Cash Sales
Accounts Receivable
Loans and Advances
Sale of Assets
Other (Attach List)
Transfers (From DIP ACCOUNTS)
Total Receipts	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00
Disbursements
Net Payroll
Payroll Taxes
Sales, Use & Other Taxes
Inventory Purchases
Secured/Rental/Leases
Insurance
Administrative
Selling
Other (Attach List)
Owner Draw*
Transfers (To Dip Accounts)
Professional fees
US Trustee Quarterly Fees
Court Costs
Total Disbursements	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00
Net Cash Flow
(Receipts less Disbursements)	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00
Cash - End of Month	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00

* COMPENSATION TO SOLE PROPRIETORS FOR SERVICES RENDERED TO BANKRUPTCY ESTATE

THE FOLLOWING SECTION MUST BE COMPLETED

Disbursements for calculating US Trustee Quarterly Fees: (From Current Month Actual Column)
Total Disbursements		—
Less: Transfers to Debtor in Possession Accounts
Plus: Estate Disbursements made by outside sources (i.e. from escrow accounts)
Total Disbursements for calculating US Trustee Quarterly Fees	$	0.00

FORM MOR-1

THE THAXTON GROUP
Cash Disbursements for TICO TENN-DORMANT		Case #         03-13197	Case No.         03-13197
Monthly Court Report for	May-05
FED ID#	62-1720278

	Consolidated Totals							Operating	Payroll	Other	Total
Beginning Cash Position	—	—	—	—	—	—		—	—	—	—
	—		—	—					—	—	—
TICO Cash Collected	—							—	—	—	—
SM Cash Collected	—							—	—	—	—
TIG Cash Collected	—							—	—	—	—
TPF Cash Collected	—							—	—	—	—
TCL Cash Collected	—							—	—	—	—
Other Income Collected	—							—	—	—	—
SUBTOTAL	—	—	—	—	—	—	—	—	—	—	—
	—							—	—	—	—
	—							—	—	—	—
GENERAL LEDGER DEPOSITS AND TRANSFERS	—							—	—	—	—
	—							—	—	—	—
	—							—	—	—	—
	—							—	—	—	—
	—							—	—	—	—
Total Cash Receipts and Transfers	—	—	—	—	—	—	—	—	—	—	—
Cash Disbursements - Loans
Loan Proceeds Checks
Expenses related to Loans
Subtotal - Loans	—	—	—	—	—	—		—	—	—	—
Cash Disbursements - Other
Advertising
Bank Charges	—	—	—	—				—	—	—	—
Claims Funding*	—	—	—	—
Company Auto	—							—	—	—	—
Computer Costs	—							—	—	—	—
Dues And Subscriptions	—							—	—	—	—
Employee Reimbursements - collections exp	—							—	—	—	—
Equipment Rental	—							—	—	—	—
Fixed Assets	—							—	—	—	—
Forms & Printing	—							—	—	—	—
Insurance	—							—	—	—	—
Meals & Entertainment	—							—	—	—	—
Miscellaneous	—							—	—	—	—
Office Expense	—							—	—	—	—
Postage	—							—	—	—	—
Prepaid Expenses	—							—	—	—	—
Prepaid Software ABS	—							—	—	—	—
Professional Fees-Ordinary Course	—							—	—	—	—
Rent	—							—	—	—	—
Repairs & Maintenance	—							—	—	—	—
Roadgard	—							—	—	—	—
Seminars & Meetings	—							—	—	—	—
Taxes & Licenses	—							—	—	—	—
Telephone	—							—	—	—	—
Temporary Agency Staff	—							—	—	—	—
Travel	—							—	—	—	—
Utilities	—							—	—	—	—
Interest to Finova	—							—	—	—	—
Payroll Paid TTG	—							—	—	—	—
Payroll Paid SMC	—							—	—	—	—
Restructuring Officer	—							—	—	—	—
Insurance Renewal	—							—	—	—	—
Voyager Payment	—							—	—	—	—
Pre-Filing Prepays	—							—	—	—	—
Deposit to Lender	—							—	—	—	—
US Trustee	—							—	—	—	—
Bankruptcy Professionals	—							—	—	—	—
	—							—	—	—	—
Total Other Cash Disbursements	—	—	—	—	—	—	—	—	—	—	—
								—	—	—	—
TOTAL ALL CASH DISBURSEMENTS	—	—	—	—	—	—	—	—	—	—	—
	—	—	—	—	—	—	—	—	—	—	—
Book Balance per bank rec.	—	—	—	—		—

In re:	Case No.	03-13198
TICO Credit Company of Mississippi, Inc.	Jointly Administered
SEE ATTACHED SCHEDULES	Reporting Period	May-05

SCHEDULE OF CASH RECEIPTS AND DISBURSEMENTS

Amounts reported should be per the debtor’s books, not the bank statements. The beginning cash should be the ending cash the prior month or, if this is the first report, the amount should be the balance on the date the petition was filed. The amounts reported in the “CURRENT MONTH - ACTUAL” column must equal the sum of the four bank account columns. The amounts reported in the “PROJECTED” columns should be taken from the SMALL BUSINESS INITIAL REPORT (FORM IR-1). Attach copies of the bank statements and the cash disbursements journal. The total disbursements journal must equal the total disbursements reported on this page. A bank reconciliation must be attached for each accounts. [See Mor-1 (Con’t)]

	Bank Accounts								Current Month				Cumulative Filing to Date
	Operating		Payroll		Tax		Other		Actual		Projected		Actual		Projected
Cash Beginning of Month
Receipts
Cash Sales
Accounts Receivable
Loans and Advances
Sale of Assets
Other (Attach List)
Transfers (From DIP ACCOUNTS)
Total Receipts	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00
Disbursements
Net Payroll
Payroll Taxes
Sales, Use & Other Taxes
Inventory Purchases
Secured/Rental/Leases
Insurance
Administrative
Selling
Other (Attach List)
Owner Draw*
Transfers (To Dip Accounts)
Professional fees
US Trustee Quarterly Fees
Court Costs
Total Disbursements	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00
Net Cash Flow
(Receipts less Disbursements)	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00
Cash - End of Month	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00

* COMPENSATION TO SOLE PROPRIETORS FOR SERVICES RENDERED TO BANKRUPTCY ESTATE

THE FOLLOWING SECTION MUST BE COMPLETED

Disbursements for calculating US Trustee Quarterly Fees: (From Current Month Actual Column)
Total Disbursements		—
Less: Transfers to Debtor in Possession Accounts
Plus: Estate Disbursements made by outside sources (i.e. from escrow accounts)
Total Disbursements for calculating US Trustee Quarterly Fees	$	0.00

FORM MOR-1

THE THAXTON GROUP
Cash Disbursements for TICO MS - DORMANT		Case #         03-13198	Case No.         03-13198
Monthly Court Report for	May-05
FED ID#	57-1111184

	Consolidated Totals							Operating	Payroll	Other	Total
Beginning Cash Position		—	—	—	—	—		—	—	—	—
	—			—	—				—	—	—
TICO Cash Collected	—							—	—	—	—
SM Cash Collected	—							—	—	—	—
TIG Cash Collected	—							—	—	—	—
TPF Cash Collected	—							—	—	—	—
TCL Cash Collected	—							—	—	—	—
Other Income Collected	—							—	—	—	—
SUBTOTAL	—	—	—	—	—	—	—	—	—	—	—
	—							—	—	—	—
	—							—	—	—	—
GENERAL LEDGER DEPOSITS AND TRANSFERS	—							—	—	—	—
								—	—	—	—
	—							—	—	—	—
	—							—	—	—	—
	—							—	—	—	—
Total Cash Receipts and Transfers	—	—	—	—	—	—	—	—	—	—	—
Cash Disbursements - Loans
Loan Proceeds Checks
Expenses related to Loans
Subtotal - Loans	—	—	—	—	—	—		—	—	—	—
Cash Disbursements - Other
Advertising
Bank Charges								—	—	—	—
Claims Funding*
Company Auto								—	—	—	—
Computer Costs								—	—	—	—
Dues And Subscriptions								—	—	—	—
Employee Reimbursements - collections exp								—	—	—	—
Equipment Rental								—	—	—	—
Fixed Assets								—	—	—	—
Forms & Printing								—	—	—	—
Insurance								—	—	—	—
Meals & Entertainment								—	—	—	—
Miscellaneous								—	—	—	—
Office Expense								—	—	—	—
Postage								—	—	—	—
Prepaid Expenses								—	—	—	—
Prepaid Software ABS								—	—	—	—
Professional Fees-Ordinary Course								—	—	—	—
Rent								—	—	—	—
Repairs & Maintenance								—	—	—	—
Roadgard								—	—	—	—
Seminars & Meetings								—	—	—	—
Taxes & Licenses								—	—	—	—
Telephone								—	—	—	—
Temporary Agency Staff								—	—	—	—
Travel								—	—	—	—
Utilities								—	—	—	—
Interest to Finova								—	—	—	—
Payroll Paid TTG								—	—	—	—
Payroll Paid SMC								—	—	—	—
Restructuring Officer								—	—	—	—
Insurance Renewal								—	—	—	—
Voyager Payment								—	—	—	—
Pre-Filing Prepays								—	—	—	—
Deposit to Lender								—	—	—	—
US Trustee								—	—	—	—
Bankruptcy Professionals								—	—	—	—
	—		—	—	—			—	—	—	—
Total Other Cash Disbursements	—	—	—	—	—	—	—	—	—	—	—
								—	—	—	—
TOTAL ALL CASH DISBURSEMENTS	—	—	—	—	—	—	—	—	—	—	—
	—	—	—	—	—	—	—	—	—	—	—
Book Balance per bank rec.	—	—	—	—	—

In re:	Case No.	03-13202
Modern Financial Services, Inc.	Jointly Administered
SEE ATTACHED SCHEDULES	Reporting Period	May-05

SCHEDULE OF CASH RECEIPTS AND DISBURSEMENTS

Amounts reported should be per the debtor’s books, not the bank statements. The beginning cash should be the ending cash the prior month or, if this is the first report, the amount should be the balance on the date the petition was filed. The amounts reported in the “CURRENT MONTH - ACTUAL” column must equal the sum of the four bank account columns. The amounts reported in the “PROJECTED” columns should be taken from the SMALL BUSINESS INITIAL REPORT (FORM IR-1). Attach copies of the bank statements and the cash disbursements journal. The total disbursements journal must equal the total disbursements reported on this page. A bank reconciliation must be attached for each accounts. [See Mor-1 (Con’t)]

	Bank Accounts								Current Month				Cumulative Filing to Date
	Operating		Payroll		Tax		Other		Actual		Projected		Actual		Projected
Cash Beginning of Month
Receipts
Cash Sales
Accounts Receivable
Loans and Advances
Sale of Assets
Other (Attach List)
Transfers (From DIP ACCOUNTS)
Total Receipts	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00
Disbursements
Net Payroll
Payroll Taxes
Sales, Use & Other Taxes
Inventory Purchases
Secured/Rental/Leases
Insurance
Administrative
Selling
Other (Attach List)
Owner Draw*
Transfers (To Dip Accounts)
Professional fees
US Trustee Quarterly Fees
Court Costs
Total Disbursements	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00
Net Cash Flow
(Receipts less Disbursements)	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00
Cash - End of Month	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00

* COMPENSATION TO SOLE PROPRIETORS FOR SERVICES RENDERED TO BANKRUPTCY ESTATE

THE FOLLOWING SECTION MUST BE COMPLETED

Disbursements for calculating US Trustee Quarterly Fees: (From Current Month Actual Column)
Total Disbursements		—
Less: Transfers to Debtor in Possession Accounts
Plus: Estate Disbursements made by outside sources (i.e. from escrow accounts)
Total Disbursements for calculating US Trustee Quarterly Fees	$	0.00

FORM MOR-1

THE THAXTON GROUP
Cash Disbursements for TICO-OH-MOD-SUB - Inactive     DORMANT		Case #         03-13187	Case No.         03-13202
Monthly Court Report for	May-05
FED ID#	31-0819992

	Consolidated Totals							Operating	Payroll	Other	Total
Beginning Cash Position	—	—	—	—	—	—		—	—	—	—
	—		—	—					—	—	—
TICO Cash Collected	—							—	—	—	—
SM Cash Collected	—							—	—	—	—
TIG Cash Collected	—							—	—	—	—
TPF Cash Collected	—							—	—	—	—
TCL Cash Collected	—							—	—	—	—
Other Income Collected	—							—	—	—	—
SUBTOTAL	—	—	—	—	—	—	—	—	—	—	—
	—							—	—	—	—
	—							—	—	—	—
GENERAL LEDGER DEPOSITS AND TRANSFERS	—							—	—	—	—
	—							—	—	—	—
	—							—	—	—	—
	—							—	—	—	—
	—							—	—	—	—
Total Cash Receipts and Transfers	—	—	—	—	—	—	—	—	—	—	—
Cash Disbursements - Loans
Loan Proceeds Checks
Expenses related to Loans
Subtotal - Loans	—	—	—	—	—	—		—	—	—	—
Cash Disbursements - Other
Advertising
Bank Charges	—	—	—	—				—	—	—	—
Claims Funding*	—	—	—	—
Company Auto	—							—	—	—	—
Computer Costs	—							—	—	—	—
Dues And Subscriptions	—							—	—	—	—
Employee Reimbursements - collections exp	—							—	—	—	—
Equipment Rental	—							—	—	—	—
Fixed Assets	—							—	—	—	—
Forms & Printing	—							—	—	—	—
Insurance	—							—	—	—	—
Meals & Entertainment	—							—	—	—	—
Miscellaneous	—							—	—	—	—
Office Expense	—							—	—	—	—
Postage	—							—	—	—	—
Prepaid Expenses	—							—	—	—	—
Prepaid Software ABS	—							—	—	—	—
Professional Fees-Ordinary Course	—							—	—	—	—
Rent	—							—	—	—	—
Repairs & Maintenance	—							—	—	—	—
Roadgard	—							—	—	—	—
Seminars & Meetings	—							—	—	—	—
Taxes & Licenses	—							—	—	—	—
Telephone	—							—	—	—	—
Temporary Agency Staff	—							—	—	—	—
Travel	—							—	—	—	—
Utilities	—							—	—	—	—
Interest to Finova	—							—	—	—	—
Payroll Paid TTG	—							—	—	—	—
Payroll Paid SMC	—							—	—	—	—
Restructuring Officer	—							—	—	—	—
Insurance Renewal	—							—	—	—	—
Voyager Payment	—							—	—	—	—
Pre-Filing Prepays	—							—	—	—	—
Deposit to Lender	—							—	—	—	—
US Trustee	—							—	—	—	—
Bankruptcy Professionals	—							—	—	—	—
	—							—	—	—	—
Total Other Cash Disbursements	—	—	—	—	—	—	—	—	—	—	—
								—	—	—	—
TOTAL ALL CASH DISBURSEMENTS	—	—	—	—	—	—	—	—	—	—	—
	—	—	—	—	—	—	—	—	—	—	—
Book Balance per bank rec.	—	—	—	—	—

In re:	Case No.	03-13204
Thaxton Investment Corporation	Jointly Administered
SEE ATTACHED SCHEDULES	Reporting Period	May-05

SCHEDULE OF CASH RECEIPTS AND DISBURSEMENTS

Amounts reported should be per the debtor’s books, not the bank statements. The beginning cash should be the ending cash the prior month or, if this is the first report, the amount should be the balance on the date the petition was filed. The amounts reported in the “CURRENT MONTH - ACTUAL” column must equal the sum of the four bank account columns. The amounts reported in the “PROJECTED” columns should be taken from the SMALL BUSINESS INITIAL REPORT (FORM IR-1). Attach copies of the bank statements and the cash disbursements journal. The total disbursements journal must equal the total disbursements reported on this page. A bank reconciliation must be attached for each accounts. [See Mor-1 (Con’t)]

	Bank Accounts								Current Month				Cumulative Filing to Date
	Operating		Payroll		Tax		Other		Actual		Projected		Actual		Projected
Cash Beginning of Month
Receipts
Cash Sales
Accounts Receivable
Loans and Advances
Sale of Assets
Other (Attach List)
Transfers (From DIP ACCOUNTS)
Total Receipts	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00
Disbursements
Net Payroll
Payroll Taxes
Sales, Use & Other Taxes
Inventory Purchases
Secured/Rental/Leases
Insurance
Administrative
Selling
Other (Attach List)
Owner Draw*
Transfers (To Dip Accounts)
Professional fees
US Trustee Quarterly Fees
Court Costs
Total Disbursements	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00
Net Cash Flow
(Receipts less Disbursements)	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00
Cash - End of Month	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00

* COMPENSATION TO SOLE PROPRIETORS FOR SERVICES RENDERED TO BANKRUPTCY ESTATE

THE FOLLOWING SECTION MUST BE COMPLETED

Disbursements for calculating US Trustee Quarterly Fees: (From Current Month Actual Column)
Total Disbursements		—
Less: Transfers to Debtor in Possession Accounts
Plus: Estate Disbursements made by outside sources (i.e. from escrow accounts)
Total Disbursements for calculating US Trustee Quarterly Fees	$	0.00

FORM MOR-1

THE THAXTON GROUP
Cash Disbursements for Thaxton Investment Company		Case No.        03-13204	Case No.         03-13204
Monthly Court Report for	May-05
FED ID#	57-1076628

Consolidated Totals

First Citizens Bank 650001120701

SCBT of Piedmont 30020101

Spratt Savings & Loan 70726

WACHOVIA DEPOSITORY ACCOUNTS

WACHOVIA DISBURSEMENT ACCOUNTS 2000014825648 2000014825114

WACHOVIA PAYROLL ACCOUNTS

Operating

Payroll

Other

Total

Beginning Cash Position

—

—

—

—

—

—

—

—

—

TICO Cash Collected

—

—

—

—

—

SM Cash Collected

—

—

—

—

—

TIG Cash Collected

—

—

—

—

—

TPF Cash Collected

—

—

—

—

—

TCL Cash Collected

—

—

—

—

—

Other Income Collected

—

No Activity - Holding Company - all activity recorded at subsidiary level.

—

—

—

—

SUBTOTAL

—

—

—

—

—

—

—

—

—

—

—

—

—

—

—

—

—

GENERAL LEDGER DEPOSITS AND TRANSFERS

—

—

—

—

—

—

—

—

—

—

—

—

—

—

—

—

—

—

—

—

—

—

—

—

—

Total Cash Receipts and Transfers

—

—

—

—

—

—

—

Cash Disbursements - Loans

Loan Proceeds Checks

Expenses related to Loans

Subtotal -Loans

—

—

—

—

—

—

—

Cash Disbursements - Other

Advertising

Bank Charges

—

—

—

—

—

Claims Funding*

—

Company Auto

—

—

—

—

—

Computer Costs

—

—

—

—

—

Dues And Subscriptions

—

—

—

—

—

Employee Reimbursements - collections exp

—

—

—

—

—

Equipment Rental

—

—

—

—

—

Fixed Assets

—

—

—

—

—

Forms & Printing

—

—

—

—

—

Insurance

—

—

—

—

—

Meals & Entertainment

—

—

—

—

—

Miscellaneous

—

—

—

—

—

Office Expense

—

—

—

—

—

Postage

—

—

—

—

—

Prepaid Expenses

—

—

—

—

—

Prepaid Software ABS

—

—

—

—

—

Professional Fees-Ordinary Course

—

—

—

—

—

Rent

—

—

—

—

—

Repairs & Maintenance

—

—

—

—

—

Roadgard

—

—

—

—

—

Seminars & Meetings

—

—

—

—

—

Taxes & Licenses

—

—

—

—

—

Telephone

—

—

—

—

—

Temporary Agency Staff

—

—

—

—

—

Travel

—

—

—

—

—

Utilities

—

—

—

—

—

Interest to Finova

—

—

—

—

—

Payroll Paid TTG

—

—

—

—

—

Payroll Paid SMC

—

—

—

—

—

Restructuring Officer

—

—

—

—

—

Insurance Renewal

—

—

—

—

—

Voyager Payment

—

—

—

—

—

Pre-Filing Prepays

—

—

—

—

—

Deposit to Lender

—

—

—

—

—

US Trustee

—

—

—

—

—

Bankruptcy Professionals

—

—

—

—

—

—

—

—

—

—

Total Other Cash Disbursements

—

—

—

—

—

—

—

—

—

—

—

—

—

—

—

—

TOTAL ALL CASH DISBURSEMENTS

—

—

—

—

—

—

—

—

—

—

—

—

—

Book Balance per bank rec.

—

THE THAXTON GROUP
SUMMARY - SOUTHERN MANAGEMENT		Case No.
Monthly Court Report for	May-05
FED ID#

	Consolidated Totals		Covington Credit-OK 03-13208		Covington Credit of Texas 03-13211		Southern Finance of South Carolina 03- 13212	Covington Credit of Georgia 03-13209	Quick Credit 03-13213	Southern Finance of Tennesse 03-13206	Corporate HQ 03-13205		Operating		Payroll	Other	Total
Beginning Cash Position	1,180,327.19		212,580.65		868,050.99		754,722.73	40,730.71	—	142,210.97	(837,968.86	)	1,180,327.19		—	—	1,180,327.19
	—		—		—		—	—	—	—					—	—	—
TICO Cash Collected	—		—		—		—	—	—	—	—		—		—	—	—
SM Cash Collected	9,400,333.39		274,640.69		2,332,295.21		2,168,723.78	1,068,461.86	1,148,946.75	822,503.41	1,584,761.69		9,400,333.39		—	—	9,400,333.39
TIG Cash Collected	—		—		—		—	—	—	—	—		—		—	—	—
TPF Cash Collected	—		—		—		—	—	—	—	—		—		—	—	—
TCL Cash Collected	—		—		—		—	—	—	—	—		—		—	—	—
Other Income Collected	163.43		—		—		—	—	—	—	163.43		163.43		—	—	163.43
SUBTOTAL	9,400,496.82		274,640.69		2,332,295.21		2,168,723.78	1,068,461.86	1,148,946.75	822,503.41	1,584,925.12		9,400,496.82		—	—	9,400,496.82
	—		—		—		—	—	—	—	—		—		—	—	—
	—		—		—		—	—	—	—	—		(2,494,357.21	)	2,494,357.21	—	—
GENERAL LEDGER SWEEPS AND TRANSFERS	(429,159.80	)	(111,507.85	)	(365,881.16	)	321,716.23	306,526.82	195,888.20	101,927.69	(877,829.73	)	(429,159.80	)	—	—	(429,159.80	)
	—		—		—		—	—	—	—	—		—		—	—	—
	—		—		—		—	—	—	—	—		—		—	—	—
	—		—		—		—	—	—	—	—		—		—	—	—
	—		—		—		—	—	—	—	—		—		—	—	—
Total Cash Receipts and Transfers	8,971,337.02		163,132.84		1,966,414.05		2,490,440.01	1,374,988.68	1,344,834.95	924,431.10	707,095.39		6,476,979.81		2,494,357.21	—	8,971,337.02
			—		—		—	—	—	—	—		—
Cash Disbursements - Loans			—		—		—	—	—	—	—		—
			—		—		—	—	—	—	—		—
Loan Proceeds Checks	5,377,315.95		192,403.74		1,658,114.53		1,479,077.42	725,909.21	784,274.95	537,536.10	—		5,377,315.95				5,377,315.95
Expenses related to Loans	262,733.93		9,445.90		59,168.62		73,614.20	40,647.30	47,624.21	32,233.70	—		262,733.93				262,733.93
Subtotal - Loans	5,640,049.88		201,849.64		1,717,283.15		1,552,691.62	766,556.51	831,899.16	569,769.80	—		5,640,049.88				5,640,049.88
			—		—		—	—	—	—	—		—				—
			—		—		—	—	—	—	—		—				—
Cash Disbursements - Other			—		—		—	—	—	—	—		—				—
Advertising	97,245.35		3,633.37		28,541.65		16,055.46	14,230.14	9,881.16	8,748.06	16,155.51		97,245.35				97,245.35
Bank Charges	25,258.77		—		—		—	—	—	—	25,258.77		25,258.77		—	—	25,258.77
Claims Funding*	195,235.62		2,158.37		40,713.73		22,584.37	26,336.85	23,600.38	6,844.73	72,997.19		195,235.62				195,235.62
Company Auto	3,682.70		399.44		63.03		576.90	247.18	—	120.80	2,275.35		3,682.70		—	—	3,682.70
Computer Costs	12,231.51		334.84		2,942.13		1,606.09	966.20	804.55	236.08	5,341.62		12,231.51		—	—	12,231.51
Dues And Subscriptions	1,231.00		120.00		366.00		—	—	—	—	745.00		1,231.00		—	—	1,231.00
Employee Reimbursements - collections exp	—		—		—		—	—	—	—	—		—		—	—	—
Equipment Rental	3,340.29		—		76.41		40.00	—	—	—	3,223.88		3,340.29		—	—	3,340.29
Fixed Assets	18,895.99		—		—		2,786.32	3,800.00	950.00	11,359.67	—		18,895.99		—	—	18,895.99
Forms & Printing	55,988.49		808.84		9,283.42		8,331.52	4,073.75	5,029.81	6,098.78	22,362.37		55,988.49		—	—	55,988.49
Insurance	1,868.23		65.05		571.09		451.14	202.43	205.15	157.27	216.10		1,868.23		—	—	1,868.23
Meals & Entertainment	9,539.81		388.97		1,643.87		3,074.27	1,745.50	72.66	1,511.63	1,102.91		9,539.81		—	—	9,539.81
Miscellaneous	27,644.10		62.50		1,240.98		1,404.36	1,575.05	576.77	654.20	22,130.24		27,644.10		—	—	27,644.10
Office Expense	9,232.75		46.46		5,438.80		670.68	1,416.35	264.05	436.36	960.05		9,232.75		—	—	9,232.75
Postage	34,210.24		662.75		8,784.77		6,677.09	3,486.87	3,793.93	2,117.87	8,686.96		34,210.24		—	—	34,210.24
Prepaid Expenses	—		—		—		—	—	—	—	—		—		—	—	—
Prepaid Software ABS	20,083.64		1,196.64		6,639.82		4,509.88	2,853.26	2,603.26	2,023.29	257.49		20,083.64		—	—	20,083.64
Professional Fees-Ordinary Course	15,273.35		—		3,015.00		—	—	—	—	12,258.35		15,273.35		—	—	15,273.35
Rent	185,334.85		6,524.77		54,737.88		37,471.47	25,202.25	19,449.31	21,598.04	20,351.13		185,334.85		—	—	185,334.85
Repairs & Maintenance	17,994.74		826.04		4,840.28		5,640.61	2,683.67	2,388.66	1,615.48	—		17,994.74		—	—	17,994.74
Roadgard	—		—		—		—	—	—	—	—		—		—	—	—
Seminars & Meetings	4,593.85		—		2,067.38		1,239.70	814.44	33.33	270.00	169.00		4,593.85		—	—	4,593.85
Taxes & Licenses	14,614.84		200.00		853.97		5,130.84	5,649.62	1,722.16	—	1,058.25		14,614.84		—	—	14,614.84
Telephone	98,051.93		3,992.61		28,452.53		21,999.72	15,488.24	9,540.31	10,263.13	8,315.39		98,051.93		—	—	98,051.93
Temporary Agency Staff	13,708.25		—		4,806.25		—	—	—	—	8,902.00		13,708.25		—	—	13,708.25
Travel	32,661.01		1,026.87		4,910.35		5,134.58	4,856.58	1,104.12	4,459.27	11,169.24		32,661.01		—	—	32,661.01
Utilities	32,285.10		1,512.59		11,665.50		7,173.43	4,955.92	3,872.14	3,105.52	—		32,285.10		—	—	32,285.10
Interest to Finova	—		—		—		—	—	—	—	—		—		—	—	—
Payroll Paid TTG	—		—		—		—	—	—	—	—		—		—	—	—
Payroll Paid SMC	2,494,357.21		84,704.06		420,681.26		723,812.65	378,289.38	340,237.34	242,152.00	304,480.52		—		2,494,357.21	—	2,494,357.21
Restructuring Officer	—		—		—		—	—	—	—	—		—		—	—	—
Insurance Renewal	41,014.39		—		—		—	—	—	—	41,014.39		41,014.39		—	—	41,014.39
Credit Insurance Payments	352,984.70		—		—		151,015.21	121,118.41	80,851.08	—	—		352,984.70		—	—	352,984.70
Pre-Filing Prepays	—		—		—		—	—	—	—	—		—		—	—	—
Deposit to Lender	—		—		—		—	—	—	—	—		—		—	—	—
US Trustee	—		—		—		—	—	—	—	—		—		—	—	—
Bankruptcy Professionals	—		—		—		—	—	—	—	—		—		—	—	—
Other	32,102.56		851.73		9,906.19		2,122.72	2,655.07	5,955.62	608.22	10,003.01		32,102.56		—	—	32,102.56
Total Other Cash Disbursements	3,850,665.27		109,515.90		652,242.29		1,029,509.01	622,647.16	512,935.79	324,380.40	599,434.72		1,356,308.06		2,494,357.21	—	3,850,665.27
			—		—			—					—		—	—	—
TOTAL ALL CASH DISBURSEMENTS	9,490,715.15		311,365.54		2,369,525.44		2,582,200.63	1,389,203.67	1,344,834.95	894,150.20	599,434.72		6,996,357.94		2,494,357.21	—	9,490,715.15
					—
	660,949.06		64,347.95		464,939.60		662,962.11	26,515.72	—	172,491.87	(730,308.19	)	660,949.06		—	—	660,949.06
Book Balance per bank rec.	660,949.08		64,347.95		464,939.60		662,962.11	26,515.72	—	172,491.87	(730,308.17	)

THE THAXTON GROUP
Cash Disbursements for Southern Management Corp Consolidated		Wachovia 2000014825127
Monthly Court Report for	May-05	ACCOUNT #2079900430903
FED ID#

ZBA ACCOUNTS	Consolidated Totals		Covington Credit-OK	Covington Credit of Texas	Southern Finance of South Carolina	Covington Credit of Georgia	Quick Credit	Southern Finance of Tennesse	CORPORATE HQ
Beginning Cash Position	—		—	—	—	—	—
	—
TICO Cash Collected	—
SM Cash Collected	—
TIG Cash Collected	—		—
TPF Cash Collected	—		—
TCL Cash Collected	—		—
Other Income Collected	—
SUBTOTAL	—		—	—	—	—	—	—	—
	—
	—
GENERAL LEDGER DEPOSITS AND TRANSFERS	7,367,100.56		271,618.80	2,366,538.16	2,240,425.07	1,206,367.35	1,186,474.75	779,609.66	(683,933.23	)
OUTSTANDING CHECKS	—						—
Account # 2000014825127	—
Account #2079900430903	—
	—
Total Cash Receipts and Transfers	7,367,100.56		271,618.80	2,366,538.16	2,240,425.07	1,206,367.35	1,186,474.75	779,609.66	(683,933.23	)
Cash Disbursements - Loans
Loan Proceeds Checks	5,377,315.95		192,403.74	1,658,114.53	1,479,077.42	725,909.21	784,274.95	537,536.10
Expenses related to Loans	262,733.93		9,445.90	59,168.62	73,614.20	40,647.30	47,624.21	32,233.70
Subtotal - Loans	5,640,049.88		201,849.64	1,717,283.15	1,552,691.62	766,556.51	831,899.16	569,769.80	—
Cash Disbursements - Other
Advertising	97,245.35		3,633.37	28,541.65	16,055.46	14,230.14	9,881.16	8,748.06	16,155.51
Bank Charges	25,258.77								25,258.77
Claims Funding*	195,235.62		2,158.37	40,713.73	22,584.37	26,336.85	23,600.38	6,844.73	72,997.19
Company Auto	3,682.70		399.44	63.03	576.90	247.18		120.80	2,275.35
Computer Costs	12,231.51		334.84	2,942.13	1,606.09	966.20	804.55	236.08	5,341.62
Dues And Subscriptions	1,231.00		120.00	366.00					745.00
Employee Reimbursements - collections exp	—
Equipment Rental	3,340.29			76.41	40.00				3,223.88
Fixed Assets	18,895.99				2,786.32	3,800.00	950.00	11,359.67
Forms & Printing	55,988.49		808.84	9,283.42	8,331.52	4,073.75	5,029.81	6,098.78	22,362.37
Insurance	1,868.23		65.05	571.09	451.14	202.43	205.15	157.27	216.10
Meals & Entertainment	9,539.81		388.97	1,643.87	3,074.27	1,745.50	72.66	1,511.63	1,102.91
Miscellaneous	27,644.10		62.50	1,240.98	1,404.36	1,575.05	576.77	654.20	22,130.24
Office Expense	9,232.75		46.46	5,438.80	670.68	1,416.35	264.05	436.36	960.05
Postage	34,210.24		662.75	8,784.77	6,677.09	3,486.87	3,793.93	2,117.87	8,686.96
Prepaid Expenses	—
Prepaid Software ABS	20,083.64		1,196.64	6,639.82	4,509.88	2,853.26	2,603.26	2,023.29	257.49
Professional Fees-Ordinary Course	15,273.35			3,015.00					12,258.35
Rent	185,334.85		6,524.77	54,737.88	37,471.47	25,202.25	19,449.31	21,598.04	20,351.13
Repairs & Maintenance	17,994.74		826.04	4,840.28	5,640.61	2,683.67	2,388.66	1,615.48
Roadgard	—
Seminars & Meetings	4,593.85			2,067.38	1,239.70	814.44	33.33	270.00	169.00
Taxes & Licenses	14,614.84		200.00	853.97	5,130.84	5,649.62	1,722.16		1,058.25
Telephone	98,051.93		3,992.61	28,452.53	21,999.72	15,488.24	9,540.31	10,263.13	8,315.39
Temporary Agency Staff	13,708.25			4,806.25					8,902.00
Travel	32,661.01		1,026.87	4,910.35	5,134.58	4,856.58	1,104.12	4,459.27	11,169.24
Utilities	32,285.10		1,512.59	11,665.50	7,173.43	4,955.92	3,872.14	3,105.52
Interest to Finova	—
Payroll Paid TTG	—
	1,531,885.04		44,957.32	417,693.98	382,037.09	195,453.06	181,877.14	127,611.46	182,254.99
Restructuring Officer	—
Insurance Renewal	41,014.39								41,014.39
Credit Insurance Carrier	352,984.70				151,015.21	121,118.41	80,851.08
Pre-Filing Prepays	—
Deposit to Lender	—
US Trustee	—
Bankruptcy Professionals	—
Other	32,102.56		851.73	9,906.19	2,122.72	2,655.07	5,955.62	608.22	10,003.01
Total Other Cash Disbursements	2,888,193.10		69,769.16	649,255.01	687,733.45	439,810.84	354,575.59	209,839.86	477,209.19
TOTAL ALL CASH DISBURSEMENTS	8,528,242.98		271,618.80	2,366,538.16	2,240,425.07	1,206,367.35	1,186,474.75	779,609.66	477,209.19
	(1,161,142.42	)	—	—	—	—	—	—	(1,161,142.42	)
Book Balance per bank rec.			—	—		—	—		(1,161,142.42	)

In re:	Case No.	03-13208
Covington Credit, Inc.	Jointly Administered
SEE ATTACHED SCHEDULES	Reporting Period	May-05

SCHEDULE OF CASH RECEIPTS AND DISBURSEMENTS

Amounts reported should be per the debtor’s books, not the bank statements. The beginning cash should be the ending cash the prior month or, if this is the first report, the amount should be the balance on the date the petition was filed. The amounts reported in the “CURRENT MONTH - ACTUAL” column must equal the sum of the four bank account columns. The amounts reported in the “PROJECTED” columns should be taken from the SMALL BUSINESS INITIAL REPORT (FORM IR-1). Attach copies of the bank statements and the cash disbursements journal. The total disbursements journal must equal the total disbursements reported on this page. A bank reconciliation must be attached for each accounts. [See Mor-1 (Con’t)]

	Bank Accounts								Current Month				Cumulative Filing to Date
	Operating		Payroll		Tax		Other		Actual		Projected		Actual		Projected
Cash Beginning of Month
Receipts
Cash Sales
Accounts Receivable
Loans and Advances
Sale of Assets
Other (Attach List)
Transfers (From DIP ACCOUNTS)
Total Receipts	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00
Disbursements
Net Payroll
Payroll Taxes
Sales, Use & Other Taxes
Inventory Purchases
Secured/Rental/Leases
Insurance
Administrative
Selling
Other (Attach List)
Owner Draw*
Transfers (To Dip Accounts)
Professional fees
US Trustee Quarterly Fees
Court Costs
Total Disbursements	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00
Net Cash Flow
(Receipts less Disbursements)	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00
Cash - End of Month	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00

* COMPENSATION TO SOLE PROPRIETORS FOR SERVICES RENDERED TO BANKRUPTCY ESTATE

THE FOLLOWING SECTION MUST BE COMPLETED

Disbursements for calculating US Trustee Quarterly Fees: (From Current Month Actual Column)
Total Disbursements		311,365.54
Less: Transfers to Debtor in Possession Accounts
Plus: Estate Disbursements made by outside sources (i.e. from escrow accounts)
Total Disbursements for calculating US Trustee Quarterly Fees	$	311,365.54

FORM MOR-1

THE THAXTON GROUP
Cash Disbursements for Covingto Credit, Inc		Case No.         03-13208	Case No.
Monthly Court Report for	May-05
FED ID#	57-1094987

	Consolidated Totals		Arvest Bank 11682857		Arvest Bank 11275222		F&M Bank & Trust Company 349836		F&M Bank & Trust Company 352357		RCB Bank 621656		WACHOVIA DISBURSE- MENT ACCOUNTS		WACHOVIA PAYROLL ACCOUNTS	Central National 212407		ARVEST 11860459		ARVEST 570344986			Operating		Payroll	Other
Beginning Cash Position	212,580.65		41,989.16		50,312.34		19,198.46		17,261.80		17,525.21		—		—	15,791.47		43,000.19		7,502.02			212,580.65		—	—
	—																						—		—	—
TICO Cash Collected	—																						—		—	—
SM Cash Collected	274,640.69		30,679.86		16,189.01		35,058.12		27,984.53		32,413.13		(20,972.60	)	39,746.74	49,604.31		28,576.99		35,360.60			234,893.95		39,746.74	—
TIG Cash Collected	—																						—		—	—
TPF Cash Collected	—																						—		—	—
TCL Cash Collected	—																						—		—	—
Other Income Collected	—																						—		—	—
SUBTOTAL	274,640.69		30,679.86		16,189.01		35,058.12		27,984.53		32,413.13		(20,972.60	)	39,746.74	49,604.31		28,576.99		35,360.60		—	234,893.95		39,746.74	—
	—																						—		—	—
	—																						—		—	—
GENERAL LEDGER DEPOSITS AND TRANSFERS	(111,507.85	)	(62,107.47	)	(63,751.02	)	(44,955.97	)	(39,060.78	)	(41,140.56	)	292,591.40			(54,874.85	)	(63,820.45	)	(34,388.15	)		(111,507.85	)	—	—
	—																						—		—	—
	—																						—		—	—
	—																						—		—	—
	—																						—		—	—
Total Cash Receipts and Transfers	163,132.84		(31,427.61	)	(47,562.01	)	(9,897.85	)	(11,076.25	)	(8,727.43	)	271,618.80		39,746.74	(5,270.54	)	(35,243.46	)	972.45		—	123,386.10		39,746.74	—
																							—		—
Cash Disbursements - Loans																							—		—
																							—		—
Loan Proceeds Checks	192,403.74												192,403.74										192,403.74		—
Expenses related to Loans	9,445.90												9,445.90										9,445.90		—
Subtotal - Loans	201,849.64		—		—		—		—		—		201,849.64		—	—		—		—			201,849.64		—	—
																							—		—
																							—		—
Cash Disbursements - Other	—																						—		—
Advertising	3,633.37												3,633.37										3,633.37		—
Bank Charges	—												—										—		—	—
Claims Funding*	2,158.37												2,158.37										2,158.37		—
Company Auto	399.44												399.44										399.44		—	—
Computer Costs	334.84												334.84										334.84		—	—
Dues And Subscriptions	120.00												120.00										120.00		—	—
Employee Reimbursements - collections exp	—												—										—		—	—
Equipment Rental	—												—										—		—	—
Fixed Assets	—												—										—		—	—
Forms & Printing	808.84												808.84										808.84		—	—
Insurance	65.05												65.05										65.05		—	—
Meals & Entertainment	388.97												388.97										388.97		—	—
Miscellaneous	62.50												62.50										62.50		—	—
Office Expense	46.46												46.46										46.46		—	—
Postage	662.75												662.75										662.75		—	—
Prepaid Expenses	—												—										—		—	—
Prepaid Software ABS	1,196.64												1,196.64										1,196.64		—	—
Professional Fees-Ordinary Course	—												—										—		—	—
Rent	6,524.77												6,524.77										6,524.77		—	—
Repairs & Maintenance	826.04												826.04										826.04		—	—
Roadgard	—												—										—		—	—
Seminars & Meetings	—												—										—		—	—
Taxes & Licenses	200.00												200.00										200.00		—	—
Telephone	3,992.61												3,992.61										3,992.61		—	—
Temporary Agency Staff	—												—										—		—	—
Travel	1,026.87												1,026.87										1,026.87		—	—
Utilities	1,512.59												1,512.59										1,512.59		—	—
Interest to Finova	—												—										—		—	—
Payroll Paid TTG	—												—										—		—	—
Payroll Paid SMC	84,704.06												44,957.32		39,746.74								44,957.32		39,746.74	—
Restructuring Officer	—												—										—		—	—
Insurance Renewal	—												—										—		—	—
Voyager Payment	—												—										—		—	—
Pre-Filing Prepays	—												—										—		—	—
Deposit to Lender	—												—										—		—	—
US Trustee	—												—										—		—	—
Bankruptcy Professionals	—												—										—		—	—
Other	851.73												851.73										851.73		—	—
Total Other Cash Disbursements	109,515.90		—		—		—		—		—		69,769.16		39,746.74	—		—		—			69,769.16		39,746.74	—
																							—		—	—
TOTAL ALL CASH DISBURSEMENTS	311,365.54		—		—		—		—		—		271,618.80		39,746.74	—		—		—			271,618.80		39,746.74	—
	64,347.95		10,561.55		2,750.33		9,300.61		6,185.55		8,797.78		—		—	10,520.93		7,756.73		8,474.47			64,347.95		—	—
Ending Bank Balance per bank rec.	64,347.95		10,561.55		2,750.33		9,300.61		6,185.55		8,797.78					10,520.93		7,756.73		8,474.47

In re:	Case No.	03-13212
Southern Finance of South Carolina, Inc.	Jointly Administered
SEE ATTACHED SCHEDULES	Reporting Period	May-05

SCHEDULE OF CASH RECEIPTS AND DISBURSEMENTS

Amounts reported should be per the debtor’s books, not the bank statements. The beginning cash should be the ending cash the prior month or, if this is the first report, the amount should be the balance on the date the petition was filed. The amounts reported in the “CURRENT MONTH - ACTUAL” column must equal the sum of the four bank account columns. The amounts reported in the “PROJECTED” columns should be taken from the SMALL BUSINESS INITIAL REPORT (FORM IR-1). Attach copies of the bank statements and the cash disbursements journal. The total disbursements journal must equal the total disbursements reported on this page. A bank reconciliation must be attached for each accounts. [See Mor-1 (Con’t)]

	Bank Accounts								Current Month				Cumulative Filing to Date
	Operating		Payroll		Tax		Other		Actual		Projected		Actual		Projected
Cash Beginning of Month
Receipts
Cash Sales
Accounts Receivable
Loans and Advances
Sale of Assets
Other (Attach List)
Transfers (From DIP ACCOUNTS)
Total Receipts	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00
Disbursements
Net Payroll
Payroll Taxes
Sales, Use & Other Taxes
Inventory Purchases
Secured/Rental/Leases
Insurance
Administrative
Selling
Other (Attach List)
Owner Draw*
Transfers (To Dip Accounts)
Professional fees
US Trustee Quarterly Fees
Court Costs
Total Disbursements	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00
Net Cash Flow
(Receipts less Disbursements)	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00
Cash - End of Month	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00

* COMPENSATION TO SOLE PROPRIETORS FOR SERVICES RENDERED TO BANKRUPTCY ESTATE

THE FOLLOWING SECTION MUST BE COMPLETED

Disbursements for calculating US Trustee Quarterly Fees: (From Current Month Actual Column)
Total Disbursements		2,582,200.63
Less: Transfers to Debtor in Possession Accounts
Plus: Estate Disbursements made by outside sources (i.e. from escrow accounts)
Total Disbursements for calculating US Trustee Quarterly Fees	$	2,582,200.63

FORM MOR-1

THE THAXTON GROUP
Cash Disbursements for Southern Finance - SC		Case #        03-13212	Case No.         03-13212
Monthly Court Report for	May-05
FED ID #	57-0827143

	Consolidated Totals	Peoples 1170002977		Exchange Bank of S.C. 510004 702501		BB&T 51258 15210		Regions Bank 3858010811		South Carolina Bank and Trust 270002033		WACHOVIA DISBURSE- MENT ACCOUNTS	WACHOVIA PAYROLL ACCOUNTS	South Carolina Bank and Trust 270002041		South Carolina Bank and Trust 270002058		Palmetto Bank 11055855		Operating		Payroll	Other	Total
Beginning Cash Position	754,722.73	12,033.37		8,624.52		16,152.93		626,666.65		13,480.96			—	12,982.07		19,868.88		44,913.35		754,722.73		—	—	754,722.73
	—																					—	—	—
TICO Cash Collected	—																			—		—	—	—
SM Cash Collected	2,168,723.78	40,683.77		50,050.12		42,414.33		1,649,179.28		76,442.42		20,820.00		54,801.64		59,723.41		174,608.81		2,168,723.78		—	—	2,168,723.78
TIG Cash Collected	—																			—		—	—	—
TPF Cash Collected	—																			—		—	—	—
TCL Cash Collected	—																			—		—	—	—
Other Income Collected	—																			—		—	—	—
SUBTOTAL	2,168,723.78	40,683.77		50,050.12		42,414.33		1,649,179.28		76,442.42		20,820.00	—	54,801.64		59,723.41		174,608.81		2,168,723.78		—	—	2,168,723.78
	—																			—		—	—	—
	—																			—		—	—	—
GENERAL LEDGER DEPOSITS AND TRANSFERS	321,716.23	(45,188.31	)	(51,321.62	)	(51,913.42	)	(1,705,469.54	)	(76,663.89	)	2,219,605.07	341,775.56	(58,719.59	)	(69,552.03	)	(180,836.00	)	(20,059.33	)	341,775.56	—	321,716.23
	—																			—		—	—	—
	—																			—		—	—	—
	—																			—		—	—	—
	—																			—		—	—	—
Total Cash Receipts and Transfers	2,490,440.01	(4,504.54	)	(1,271.50	)	(9,499.09	)	(56,290.26	)	(221.47	)	2,240,425.07	341,775.56	(3,917.95	)	(9,828.62	)	(6,227.19	)	2,148,664.45		341,775.56	—	2,490,440.01
																				—
Cash Disbursements - Loans																				—
																				—
Loan Proceeds Checks	1,479,077.42											1,479,077.42								1,479,077.42				1,479,077.42
Expenses related to Loans	73,614.20											73,614.20								73,614.20				73,614.20
Subtotal Loans	1,552,691.62											1,552,691.62								1,552,691.62				1,552,691.62
																				—
																				—
Cash Disbursements - Other																				—
Advertising	16,055.46											16,055.46								16,055.46				16,055.46
Bank Charges	—																			—		—	—	—
Claims Funding*	22,584.37											22,584.37								22,584.37				22,584.37
Company Auto	576.90											576.90								576.90		—	—	576.90
Computer Costs	1,606.09											1,606.09								1,606.09		—	—	1,606.09
Dues And Subscriptions	—											—								—		—	—	—
Employee Reimbursements - collections exp	—											—								—		—	—	—
Equipment Rental	40.00											40.00								40.00		—	—	40.00
Fixed Assets	2,786.32											2,786.32								2,786.32		—	—	2,786.32
Forms & Printing	8,331.52											8,331.52								8,331.52		—	—	8,331.52
Insurance	451.14											451.14								451.14		—	—	451.14
Meals & Entertainment	3,074.27											3,074.27								3,074.27		—	—	3,074.27
Miscellaneous	1,404.36											1,404.36								1,404.36		—	—	1,404.36
Office Expense	670.68											670.68								670.68		—	—	670.68
Postage	6,677.09											6,677.09								6,677.09		—	—	6,677.09
Prepaid Expenses	—											—								—		—	—	—
Prepaid Software ABS	4,509.88											4,509.88								4,509.88		—	—	4,509.88
Professional Fees-Ordinary Course	—											—								—		—	—	—
Rent	37,471.47											37,471.47								37,471.47		—	—	37,471.47
Repairs & Maintenance	5,640.61											5,640.61								5,640.61		—	—	5,640.61
Roadgard	—											—								—		—	—	—
Seminars & Meetings	1,239.70											1,239.70								1,239.70		—	—	1,239.70
Taxes & Licenses	5,130.84											5,130.84								5,130.84		—	—	5,130.84
Telephone	21,999.72											21,999.72								21,999.72		—	—	21,999.72
Temporary Agency Staff	—											—								—		—	—	—
Travel	5,134.58											5,134.58								5,134.58		—	—	5,134.58
Utilities	7,173.43											7,173.43								7,173.43		—	—	7,173.43
Interest to Finova	—											—								—		—	—	—
Payroll Paid TTG	—											—								—		—	—	—
Payroll Paid SMC	723,812.65											382,037.09	341,775.56							382,037.09		341,775.56	—	723,812.65
Restructuring Officer	—											—								—		—	—	—
Insurance Renewal	—											—								—		—	—	—
Voyager Payment	151,015.21											151,015.21								151,015.21		—	—	151,015.21
Pre-Filing Prepays	—											—								—		—	—	—
Deposit to Lender	—											—								—		—	—	—
US Trustee	—											—								—		—	—	—
Bankruptcy Professionals	—											—								—		—	—	—
Other	2,122.72											2,122.72								2,122.72		—	—	2,122.72
Total Other Cash Disbursements	1,029,509.01	—		—		—		—		—		687,733.45	341,775.56	—		—		—		1,029,509.01		—	—	1,029,509.01
																				—		—	—	—
TOTAL ALL CASH DISBURSEMENTS	2,582,200.63	—		—		—		—		—		2,240,425.07	341,775.56	—		—		—		2,240,425.07		341,775.56	—	2,582,200.63
	662,962.11	7,528.83		7,353.02		6,653.84		570,376.39		13,259.49		—	—	9,064.12		10,040.26		38,686.16		662,962.11		—	—	662,962.11
Book Balance per bank rec.	662,962.11	7,528.83		7,353.02		6,653.84		570,376.39		13,259.49				9,064.12		10,040.26		38,686.16

In re:	Case No.	03-13211
Covington Credit of Texas, Inc.	Jointly Administered
SEE ATTACHED SCHEDULES	Reporting Period	May-05

SCHEDULE OF CASH RECEIPTS AND DISBURSEMENTS

Amounts reported should be per the debtor’s books, not the bank statements. The beginning cash should be the ending cash the prior month or, if this is the first report, the amount should be the balance on the date the petition was filed. The amounts reported in the “CURRENT MONTH - ACTUAL” column must equal the sum of the four bank account columns. The amounts reported in the “PROJECTED” columns should be taken from the SMALL BUSINESS INITIAL REPORT (FORM IR-1). Attach copies of the bank statements and the cash disbursements journal. The total disbursements journal must equal the total disbursements reported on this page. A bank reconciliation must be attached for each accounts. [See Mor-1 (Con’t)]

	Bank Accounts								Current Month				Cumulative Filing to Date
	Operating		Payroll		Tax		Other		Actual		Projected		Actual		Projected
Cash Beginning of Month
Receipts
Cash Sales
Accounts Receivable
Loans and Advances
Sale of Assets
Other (Attach List)
Transfers (From DIP ACCOUNTS)
Total Receipts	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00
Disbursements
Net Payroll
Payroll Taxes
Sales, Use & Other Taxes
Inventory Purchases
Secured/Rental/Leases
Insurance
Administrative
Selling
Other (Attach List)
Owner Draw*
Transfers (To Dip Accounts)
Professional fees
US Trustee Quarterly Fees
Court Costs
Total Disbursements	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00
Net Cash Flow
(Receipts less Disbursements)	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00
Cash - End of Month	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00

* COMPENSATION TO SOLE PROPRIETORS FOR SERVICES RENDERED TO BANKRUPTCY ESTATE

THE FOLLOWING SECTION MUST BE COMPLETED

Disbursements for calculating US Trustee Quarterly Fees: (From Current Month Actual Column)
Total Disbursements		2,369,525.44
Less: Transfers to Debtor in Possession Accounts
Plus: Estate Disbursements made by outside sources (i.e. from escrow accounts)
Total Disbursements for calculating US Trustee Quarterly Fees	$	2,369,525.44

FORM MOR-1

THE THAXTON GROUP
Cash Disbursements for Covington Credit of Texas		Case #         03-13211
Monthly Court Report for	May-05
FED ID#	57-1002963	Texas State Bank

	Conso -lidated Totals		1st Commerce Bank 350188		1st Commerce Bank 381959		American Bank of Texas 1002218089		American National Bank 0010944		Bank of Texas 3000010649		Community Bank & Trust 100102889		First State Bank 2702488		Frost National Bank 460020362		Hibernia National Bank 04122623		Inter -national Bank of Commerce 9004201		Kleberg First National Bank 123390		Liberty Bank 2102 -872900		Liberty National Bank 126979		Prosperity Bank 2794981
Beginning Cash Position	868,050.99		11,138.17		10,314.88		9,333.64		11,298.89		17,577.06		20,524.24		18,145.26		18,453.75		12,871.40		85,402.15		11,775.61		13,003.29		14,290.12		16,698.96
	—
TICO Cash Collected	—
SM Cash Collected	2,332,295.21		40,019.67		50,086.17		43,882.29		57,004.47		40,467.14		62,924.54		45,972.13		28,234.10		32,310.85		542,640.77		52,048.38		32,266.67		32,989.07		31,399.65
TIG Cash Collected	—
TPF Cash Collected	—
TCL Cash Collected	—
Other Income Collected	—
SUBTOTAL	2,332,295.21		40,019.67		50,086.17		43,882.29		57,004.47		40,467.14		62,924.54		45,972.13		28,234.10		32,310.85		542,640.77		52,048.38		32,266.67		32,989.07		31,399.65
	—
	—
GENERAL LEDGER DEPOSITS AND TRANSFERS	(365,881.16	)	(42,265.09	)	(51,914.67	)	(44,044.31	)	(56,028.48	)	(48,987.23	)	(74,212.40	)	(52,695.22	)	(42,857.42	)	(39,935.81	)	(474,708.66	)	(52,773.58	)	(37,567.52	)	(40,157.48	)	(40,245.21	)
	—										—
	—
	—
	—
Total Cash Receipts and Transfers	1,966,414.05		(2,245.42	)	(1,828.50	)	(162.02	)	975.99		(8,520.09	)	(11,287.86	)	(6,723.09	)	(14,623.32	)	(7,624.96	)	67,932.11		(725.20	)	(5,300.85	)	(7,168.41	)	(8,845.56	)
Cash Disbursements - Loans
Loan Proceeds Checks	1,658,114.53
Expenses related to Loans	59,168.62
Subtotal - Loans	1,717,283.15		—		—		—		—		—		—		—		—		—		—		—		—		—		—
Cash Disbursements - Other
Advertising	28,541.65
Bank Charges	—
Claims Funding*	40,713.73
Company Auto	63.03
Computer Costs	2,942.13
Dues And Subscriptions	366.00
Employee Reimbursements - collections exp	—
Equipment Rental	76.41
Fixed Assets	—
Forms & Printing	9,283.42
Insurance	571.09
Meals & Entertainment	1,643.87
Miscellaneous	1,240.98
Office Expense	5,438.80
Postage	8,784.77
Prepaid Expenses	—
Prepaid Software ABS	6,639.82
Professional Fees-Ordinary Course	3,015.00
Rent	54,737.88
Repairs & Maintenance	4,840.28
Roadgard	—
Seminars & Meetings	2,067.38
Taxes & Licenses	853.97
Telephone	28,452.53
Temporary Agency Staff	4,806.25
Travel	4,910.35
Utilities	11,665.50
Interest to Finova	—
Payroll Paid TTG	—
Payroll Paid SMC	420,681.26
Restructuring Officer	—
Insurance Renewal	—
Voyager Payment	—
Pre-Filing Prepays	—
Deposit to Lender	—
US Trustee	—
Bankruptcy Professionals	—
Other	9,906.19
Total Other Cash Disbursements	652,242.29		—		—		—		—		—		—		—		—		—		—		—		—		—		—
TOTAL ALL CASH DISBURSEMENTS	2,369,525.44		—		—		—		—		—		—		—		—		—		—		—		—		—		—
	464,939.60		8,892.75		8,486.38		9,171.62		12,274.88		9,056.97		9,236.38		11,422.17		3,830.43		5,246.44		153,334.26		11,050.41		7,702.44		7,121.71		7,853.40
Book Balance per bank rec.	464,939.60		8,892.75		8,486.38		9,171.62		12,274.88		9,056.97		9,236.38		11,422.17		3,830.43		5,246.44		153,334.26		11,050.41		7,702.44		7,121.71		7,853.40

THE THAXTON GROUP

Cash Disbursements for Covington Credit of Texas

Monthly Court Report for

FED ID#

	Prosperity Bank 2795011		Prosperity Bank 2795791		Prosperity Bank 75137494		Community Bank & Trust 11798527		Guaranty Bank 380- 3594062		Guaranty Bank 380- 3594567		Guaranty Bank 380- 3594609		Guaranty Bank 380- 3594559		Guaranty Bank 380-3594542		Guaranty Bank 380-3594153		Union Planter’s Bank 0080129775		WACHOVIA DISBURSE- MENT ACCOUNTS	WACHOVIA PAYROLL ACCOUNTS	Wells Fargo 423- 1233624		Wells Fargo 423- 1337470
Beginning Cash Position	8,748.09		5,487.21		17,475.57		27,781.76		8,615.37		45,611.32		26,827.01		56,155.23		76,335.41		163,426.45		16,984.10		—	—	16,400.63		13,828.22
TICO Cash Collected			—
SM Cash Collected	47,030.02		48,868.51		26,152.71		44,779.99		24,834.49		41,251.63		37,016.45		37,366.75		39,788.25		32,930.61		15,124.73		498,472.71		42,496.74		44,063.50
TIG Cash Collected
TPF Cash Collected
TCL Cash Collected			—
Other Income Collected
SUBTOTAL	47,030.02		48,868.51		26,152.71		44,779.99		24,834.49		41,251.63		37,016.45		37,366.75		39,788.25		32,930.61		15,124.73		498,472.71	—	42,496.74		44,063.50
GENERAL LEDGER DEPOSITS AND TRANSFERS	(47,569.48	)	(46,930.59	)	(36,964.07	)	(61,780.98	)	(26,730.65	)	(76,113.82	)	(56,079.25	)	(83,321.07	)	(106,729.59	)	(186,542.44	)	(19,984.49	)	1,450,371.47	420,681.26	(48,254.05	)	(47,535.55	)
Total Cash Receipts and Transfers	(539.46	)	1,937.92		(10,811.36	)	(17,000.99	)	(1,896.16	)	(34,862.19	)	(19,062.80	)	(45,954.32	)	(66,941.34	)	(153,611.83	)	(4,859.76	)	1,948,844.18	420,681.26	(5,757.31	)	(3,472.05	)
Cash Disbursements - Loans
Loan Proceeds Checks																							1,658,114.53
Expenses related to Loans																							59,168.62
Subtotal - Loans	—		—		—		—		—		—		—		—		—		—		—		1,717,283.15	—	—		—
Cash Disbursements - Other
Advertising																							28,541.65
Bank Charges			—								—		—		—		—
Claims Funding*																							40,713.73
Company Auto																							63.03
Computer Costs																							2,942.13
Dues And Subscriptions																							366.00
Employee Reimbursements - collections exp																							—
Equipment Rental																							76.41
Fixed Assets																							—
Forms & Printing																							9,283.42
Insurance																							571.09
Meals & Entertainment																							1,643.87
Miscellaneous																							1,240.98
Office Expense																							5,438.80
Postage																							8,784.77
Prepaid Expenses																							—
Prepaid Software ABS																							6,639.82
Professional Fees-Ordinary Course																							3,015.00
Rent																							54,737.88
Repairs & Maintenance																							4,840.28
Roadgard																							—
Seminars & Meetings																							2,067.38
Taxes & Licenses																							853.97
Telephone																							28,452.53
Temporary Agency Staff																							4,806.25
Travel																							4,910.35
Utilities																							11,665.50
Interest to Finova																							—
Payroll Paid TTG																							—
Payroll Paid SMC																								420,681.26
Restructuring Officer																							—
Insurance Renewal																							—
Voyager Payment																							—
Pre-Filing Prepays																							—
Deposit to Lender																							—
US Trustee																							—
Bankruptcy Professionals																							—
Other																							9,906.19
Total Other Cash Disbursements	—		—		—		—		—		—		—		—		—		—		—		231,561.03	420,681.26	—		—
TOTAL ALL CASH DISBURSEMENTS	—		—		—		—		—		—		—		—		—		—		—		1,948,844.18	420,681.26	—		—
	8,208.63		7,425.13		6,664.21		10,780.77		6,719.21		10,749.13		7,764.21		10,200.91		9,394.07		9,814.62		12,124.34		—	—	10,643.32		10,356.17
Book Balance per bank rec.	8,208.63		7,425.13		6,664.21		10,780.77		6,719.21		10,749.13		7,764.21		10,200.91		9,394.07		9,814.62		12,124.34				10,643.32		10,356.17

THE THAXTON GROUP
Cash Disbursements for Covington Credit of Texas	Case No.         03-13211
Monthly Court Report for
FED ID#

	Wells Fargo 5505312659		Wells Fargo 5690474692		Wells Fargo 5880617148		Wells Fargo 7390259432		First National Bank Texas 001100998		Operating		Payroll	Other	Total
Beginning Cash Position	24,615.12		16,284.30		17,838.49		13,476.72		41,332.57		868,050.99		—	—	868,050.99
													—	—	—
TICO Cash Collected											—		—	—	—
SM Cash Collected	26,308.86		36,854.91		39,261.86		46,948.96		110,497.63		2,332,295.21		—	—	2,332,295.21
TIG Cash Collected											—		—	—	—
TPF Cash Collected											—		—	—	—
TCL Cash Collected											—		—	—	—
Other Income Collected											—		—	—	—
SUBTOTAL	26,308.86		36,854.91		39,261.86		46,948.96		110,497.63		2,332,295.21		—	—	2,332,295.21
											—		—	—	—
											—		—	—	—
GENERAL LEDGER DEPOSITS AND TRANSFERS	(46,039.17	)	(44,477.95	)	(49,296.36	)	(45,884.60	)	(108,306.70	)	(786,562.42	)	420,681.26	—	(365,881.16	)
											—		—	—	—
											—		—	—	—
											—		—	—	—
											—		—	—	—
Total Cash Receipts and Transfers	(19,730.31	)	(7,623.04	)	(10,034.50	)	1,064.36		2,190.93		1,545,732.79		420,681.26	—	1,966,414.05
													—
Cash Disbursements - Loans													—
											—		—
Loan Proceeds Checks											1,658,114.53		—		1,658,114.53
Expenses related to Loans											59,168.62		—		59,168.62
Subtotal - Loans	—		—		—		—		—		1,717,283.15		—	—	1,717,283.15
													—
													—
Cash Disbursements - Other													—
Advertising											28,541.65		—	—	28,541.65
Bank Charges									—		—			—	—
Claims Funding*											40,713.73		—		40,713.73
Company Auto											63.03		—	—	63.03
Computer Costs											2,942.13		—	—	2,942.13
Dues And Subscriptions											366.00		—	—	366.00
Employee Reimbursements - collections exp											—		—	—	—
Equipment Rental											76.41		—	—	76.41
Fixed Assets											—		—	—	—
Forms & Printing											9,283.42		—	—	9,283.42
Insurance											571.09		—	—	571.09
Meals & Entertainment											1,643.87		—	—	1,643.87
Miscellaneous											1,240.98		—	—	1,240.98
Office Expense											5,438.80		—	—	5,438.80
Postage											8,784.77		—	—	8,784.77
Prepaid Expenses											—		—	—	—
Prepaid Software ABS											6,639.82		—	—	6,639.82
Professional Fees-Ordinary Course											3,015.00		—	—	3,015.00
Rent											54,737.88		—	—	54,737.88
Repairs & Maintenance											4,840.28		—	—	4,840.28
Roadgard											—		—	—	—
Seminars & Meetings											2,067.38		—	—	2,067.38
Taxes & Licenses											853.97		—	—	853.97
Telephone											28,452.53		—	—	28,452.53
Temporary Agency Staff											4,806.25		—	—	4,806.25
Travel											4,910.35		—	—	4,910.35
Utilities											11,665.50		—	—	11,665.50
Interest to Finova											—		—	—	—
Payroll Paid TTG											—		—	—	—
Payroll Paid SMC											—		420,681.26	—	420,681.26
Restructuring Officer											—		—	—	—
Insurance Renewal											—		—	—	—
Voyager Payment											—		—	—	—
Pre-Filing Prepays											—		—	—	—
Deposit to Lender											—		—	—	—
US Trustee											—		—	—	—
Bankruptcy Professionals											—		—	—	—
Other											9,906.19		—	—	9,906.19
Total Other Cash Disbursements	—		—		—		—		—		231,561.03		420,681.26	—	652,242.29
											—			—	—
TOTAL ALL CASH DISBURSEMENTS	—		—		—		—		—		1,948,844.18		420,681.26	—	2,369,525.44
	4,884.81		8,661.26		7,803.99		14,541.08		43,523.50		464,939.60		—	—	464,939.60
Book Balance per bank rec.	4,884.81		8,661.26		7,803.99		14,541.08		43,523.50

65

In re:	Case No.	03-13213
Quick Credit Corporation, Inc.	Jointly Administered
SEE ATTACHED SCHEDULES	Reporting Period	May-05

SCHEDULE OF CASH RECEIPTS AND DISBURSEMENTS

Amounts reported should be per the debtor’s books, not the bank statements. The beginning cash should be the ending cash the prior month or, if this is the first report, the amount should be the balance on the date the petition was filed. The amounts reported in the “CURRENT MONTH - ACTUAL” column must equal the sum of the four bank account columns. The amounts reported in the “PROJECTED” columns should be taken from the SMALL BUSINESS INITIAL REPORT (FORM IR-1). Attach copies of the bank statements and the cash disbursements journal. The total disbursements journal must equal the total disbursements reported on this page. A bank reconciliation must be attached for each accounts. [See Mor-1 (Con’t)]

	Bank Accounts								Current Month				Cumulative Filing to Date
	Operating		Payroll		Tax		Other		Actual		Projected		Actual		Projected
Cash Beginning of Month
Receipts
Cash Sales
Accounts Receivable
Loans and Advances
Sale of Assets
Other (Attach List)
Transfers (From DIP ACCOUNTS)
Total Receipts	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00
Disbursements
Net Payroll
Payroll Taxes
Sales, Use & Other Taxes
Inventory Purchases
Secured/Rental/Leases
Insurance
Administrative
Selling
Other (Attach List)
Owner Draw*
Transfers (To Dip Accounts)
Professional fees
US Trustee Quarterly Fees
Court Costs
Total Disbursements	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00
Net Cash Flow
(Receipts less Disbursements)	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00
Cash - End of Month	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00

* COMPENSATION TO SOLE PROPRIETORS FOR SERVICES RENDERED TO BANKRUPTCY ESTATE

THE FOLLOWING SECTION MUST BE COMPLETED

Disbursements for calculating US Trustee Quarterly Fees: (From Current Month Actual Column)
Total Disbursements		1,344,834.95
Less: Transfers to Debtor in Possession Accounts
Plus: Estate Disbursements made by outside sources (i.e. from escrow accounts)
Total Disbursements for calculating US Trustee Quarterly Fees	$	1,344,834.95
		FORM MOR-1

THE THAXTON GROUP
Cash Disbursements for Quick Credit Corporation, Inc.		03-13213	Case No.         03-13213
Monthly Court Report for	May-05
FED ID#	57-0857420

	Consolidated Totals	WACHOVIA DISBURSEMENT ACCOUNTS	WACHOVIA PAYROLL ACCOUNTS	Operating	Payroll	Other	Total
Beginning Cash Position	—			—	—	—	—
	—				—	—	—
TICO Cash Collected	—			—	—	—	—
SM Cash Collected	1,148,946.75	1,148,946.75		1,148,946.75	—	—	1,148,946.75
TIG Cash Collected	—			—	—	—	—
TPF Cash Collected	—			—	—	—	—
TCL Cash Collected	—			—	—	—	—
Other Income Collected	—			—	—	—	—
SUBTOTAL	1,148,946.75	1,148,946.75	—	1,148,946.75	—	—	1,148,946.75
	—			—	—	—	—
	—			—	—	—	—
GENERAL LEDGER DEPOSITS AND TRANSFERS	195,888.20	37,528.00	158,360.20	37,528.00	158,360.20	—	195,888.20
	—			—	—	—	—
	—			—	—	—	—
	—			—	—	—	—
	—			—	—	—	—
Total Cash Receipts and Transfers	1,344,834.95	1,186,474.75	158,360.20	1,186,474.75	158,360.20	—	1,344,834.95
Cash Disbursements - Loans
Loan Proceeds Checks	784,274.95	784,274.95		784,274.95			784,274.95
Expenses related to Loans	47,624.21	47,624.21		47,624.21			47,624.21
Subtotal - Loans	831,899.16	831,899.16	—	831,899.16	—	—	831,899.16
		—		—			—
		—		—			—
Cash Disbursements - Other		—		—			—
Advertising	9,881.16	9,881.16		9,881.16			9,881.16
Bank Charges	—	—		—	—	—	—
Claims Funding*	23,600.38	23,600.38		23,600.38			23,600.38
Company Auto	—	—		—	—	—	—
Computer Costs	804.55	804.55		804.55	—	—	804.55
Dues And Subscriptions	—	—		—	—	—	—
Employee Reimbursements - collections exp	—	—		—	—	—	—
Equipment Rental	—	—		—	—	—	—
Fixed Assets	950.00	950.00		950.00	—	—	950.00
Forms & Printing	5,029.81	5,029.81		5,029.81	—	—	5,029.81
Insurance	205.15	205.15		205.15	—	—	205.15
Meals & Entertainment	72.66	72.66		72.66	—	—	72.66
Miscellaneous	576.77	576.77		576.77	—	—	576.77
Office Expense	264.05	264.05		264.05	—	—	264.05
Postage	3,793.93	3,793.93		3,793.93	—	—	3,793.93
Prepaid Expenses	—	—		—	—	—	—
Prepaid Software ABS	2,603.26	2,603.26		2,603.26	—	—	2,603.26
Professional Fees-Ordinary Course	—	—		—	—	—	—
Rent	19,449.31	19,449.31		19,449.31	—	—	19,449.31
Repairs & Maintenance	2,388.66	2,388.66		2,388.66	—	—	2,388.66
Roadgard	—	—		—	—	—	—
Seminars & Meetings	33.33	33.33		33.33	—	—	33.33
Taxes & Licenses	1,722.16	1,722.16		1,722.16	—	—	1,722.16
Telephone	9,540.31	9,540.31		9,540.31	—	—	9,540.31
Temporary Agency Staff	—	—		—	—	—	—
Travel	1,104.12	1,104.12		1,104.12	—	—	1,104.12
Utilities	3,872.14	3,872.14		3,872.14	—	—	3,872.14
Interest to Finova	—	—		—	—	—	—
Payroll Paid TTG	—	—		—	—	—	—
Payroll Paid SMC	340,237.34	181,877.14	158,360.20	181,877.14	158,360.20	—	340,237.34
Restructuring Officer	—	—		—	—	—	—
Insurance Renewal	—	—		—	—	—	—
Voyager Payment	80,851.08	80,851.08		80,851.08	—	—	80,851.08
Pre-Filing Prepays	—	—		—	—	—	—
Deposit to Lender	—	—		—	—	—	—
US Trustee	—	—		—	—	—	—
Bankruptcy Professionals	—	—		—	—	—	—
Other	5,955.62	5,955.62		5,955.62	—	—	5,955.62
Total Other Cash Disbursements	512,935.79	354,575.59	158,360.20	354,575.59	158,360.20	—	512,935.79
TOTAL ALL CASH DISBURSEMENTS	1,344,834.95	1,186,474.75	158,360.20	1,186,474.75	158,360.20	—	1,344,834.95
	—	—	—	—	—	—	—
Book Balance per bank rec.	—

In re:	Case No.	03-13209
Covington Credit of Georgia, Inc.	Jointly Administered
SEE ATTACHED SCHEDULES	Reporting Period	May-05

SCHEDULE OF CASH RECEIPTS AND DISBURSEMENTS

Amounts reported should be per the debtor’s books, not the bank statements. The beginning cash should be the ending cash the prior month or, if this is the first report, the amount should be the balance on the date the petition was filed. The amounts reported in the “CURRENT MONTH - ACTUAL” column must equal the sum of the four bank account columns. The amounts reported in the “PROJECTED” columns should be taken from the SMALL BUSINESS INITIAL REPORT (FORM IR-1). Attach copies of the bank statements and the cash disbursements journal. The total disbursements journal must equal the total disbursements reported on this page. A bank reconciliation must be attached for each accounts. [See Mor-1 (Con’t)]

	Bank Accounts								Current Month				Cumulative Filing to Date
	Operating		Payroll		Tax		Other		Actual		Projected		Actual		Projected
Cash Beginning of Month
Receipts
Cash Sales
Accounts Receivable
Loans and Advances
Sale of Assets
Other (Attach List)
Transfers (From DIP ACCOUNTS)
Total Receipts	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00
Disbursements
Net Payroll
Payroll Taxes
Sales, Use & Other Taxes
Inventory Purchases
Secured/Rental/Leases
Insurance
Administrative
Selling
Other (Attach List)
Owner Draw*
Transfers (To Dip Accounts)
Professional fees
US Trustee Quarterly Fees
Court Costs
Total Disbursements	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00
Net Cash Flow
(Receipts less Disbursements)	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00
Cash - End of Month	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00

* COMPENSATION TO SOLE PROPRIETORS FOR SERVICES RENDERED TO BANKRUPTCY ESTATE

THE FOLLOWING SECTION MUST BE COMPLETED

Disbursements for calculating US Trustee Quarterly Fees: (From Current Month Actual Column)
Total Disbursements		1,389,203.67
Less: Transfers to Debtor in Possession Accounts
Plus: Estate Disbursements made by outside sources (i.e. from escrow accounts)
Total Disbursements for calculating US Trustee Quarterly Fees	$	1,389,203.67

FORM MOR-1

THE THAXTON GROUP
Cash Disbursements for Covington Credit of GA		Case #         03-13209	Case No.         03-13209
Monthly Court Report for	May-05
FED ID#	58-1435012

	Consolidated Totals	Bank of Perry		Flag Financial Corp		WACHOVIA DISBURSEMENT ACCOUNTS	WACHOVIA PAYROLL ACCOUNTS	Operating	Payroll	Other	Total
		429068		0189003751
Beginning Cash Position	40,730.71	13,014.40		27,716.31		—	—	40,730.71	—	—	40,730.71
	—								—	—	—
TICO Cash Collected	—							—	—	—	—
SM Cash Collected	1,068,461.86	39,771.24		91,467.59		937,223.03		1,068,461.86	—	—	1,068,461.86
TIG Cash Collected	—							—	—	—	—
TPF Cash Collected	—							—	—	—	—
TCL Cash Collected	—							—	—	—	—
Other Income Collected	—							—	—	—	—
SUBTOTAL	1,068,461.86	39,771.24		91,467.59		937,223.03	—	1,068,461.86	—	—	1,068,461.86
	—							—	—	—	—
	—							—	—	—	—
GENERAL LEDGER DEPOSITS AND TRANSFERS	306,526.82	(44,174.24	)	(101,279.58	)	269,144.32	182,836.32	123,690.50	182,836.32	—	306,526.82
	—							—	—	—	—
	—							—	—	—	—
	—							—	—	—	—
	—							—	—	—	—
Total Cash Receipts and Transfers	1,374,988.68	(4,403.00	)	(9,811.99	)	1,206,367.35	182,836.32	1,192,152.36	182,836.32	—	1,374,988.68
Cash Disbursements - Loans
								—
Loan Proceeds Checks	725,909.21					725,909.21		725,909.21			725,909.21
Expenses related to Loans	40,647.30					40,647.30		40,647.30			40,647.30
Subtotal - Loans	766,556.51	—		—		766,556.51	—	766,556.51	—	—	766,556.51
	—							—
	—							—
Cash Disbursements - Other	—							—
Advertising	14,230.14					14,230.14		14,230.14			14,230.14
Bank Charges	—					—		—	—	—	—
Claims Funding*	26,336.85					26,336.85		26,336.85			26,336.85
Company Auto	247.18					247.18		247.18	—	—	247.18
Computer Costs	966.20					966.20		966.20	—	—	966.20
Dues And Subscriptions	—					—		—	—	—	—
Employee Reimbursements - collections exp	—					—		—	—	—	—
Equipment Rental	—					—		—	—	—	—
Fixed Assets	3,800.00					3,800.00		3,800.00	—	—	3,800.00
Forms & Printing	4,073.75					4,073.75		4,073.75	—	—	4,073.75
Insurance	202.43					202.43		202.43	—	—	202.43
Meals & Entertainment	1,745.50					1,745.50		1,745.50	—	—	1,745.50
Miscellaneous	1,575.05					1,575.05		1,575.05	—	—	1,575.05
Office Expense	1,416.35					1,416.35		1,416.35	—	—	1,416.35
Postage	3,486.87					3,486.87		3,486.87	—	—	3,486.87
Prepaid Expenses	—					—		—	—	—	—
Prepaid Software ABS	2,853.26					2,853.26		2,853.26	—	—	2,853.26
Professional Fees-Ordinary Course	—					—		—	—	—	—
Rent	25,202.25					25,202.25		25,202.25	—	—	25,202.25
Repairs & Maintenance	2,683.67					2,683.67		2,683.67	—	—	2,683.67
Roadgard	—					—		—	—	—	—
Seminars & Meetings	814.44					814.44		814.44	—	—	814.44
Taxes & Licenses	5,649.62					5,649.62		5,649.62	—	—	5,649.62
Telephone	15,488.24					15,488.24		15,488.24	—	—	15,488.24
Temporary Agency Staff	—					—		—	—	—	—
Travel	4,856.58					4,856.58		4,856.58	—	—	4,856.58
Utilities	4,955.92					4,955.92		4,955.92	—	—	4,955.92
Interest to Finova	—					—		—	—	—	—
Payroll Paid TTG	—					—		—	—	—	—
Payroll Paid SMC	378,289.38					195,453.06	182,836.32	195,453.06	182,836.32	—	378,289.38
Restructuring Officer	—					—		—	—	—	—
Insurance Renewal	—					—		—	—	—	—
Voyager Payment	121,118.41					121,118.41		121,118.41	—	—	121,118.41
Pre-Filing Prepays	—					—		—	—	—	—
Deposit to Lender	—					—		—	—	—	—
US Trustee	—					—		—	—	—	—
Bankruptcy Professionals	—					—		—	—	—	—
Other	2,655.07					2,655.07		2,655.07	—	—	2,655.07
Total Other Cash Disbursements	622,647.16	—		—		439,810.84	182,836.32	439,810.84	182,836.32	—	622,647.16
								—	—	—	—
TOTAL ALL CASH DISBURSEMENTS	1,389,203.67	—		—		1,206,367.35	182,836.32	1,206,367.35	182,836.32	—	1,389,203.67
	26,515.72	8,611.40		17,904.32		—	—	26,515.72	—	—	26,515.72
Book Balance per bank rec.	26,515.72	8,611.40		17,904.32

In re:	Case No.	03-13206
Southern Finance of Tennessee, Inc.	Jointly Administered
SEE ATTACHED SCHEDULES	Reporting Period	May-05

SCHEDULE OF CASH RECEIPTS AND DISBURSEMENTS

Amounts reported should be per the debtor’s books, not the bank statements. The beginning cash should be the ending cash the prior month or, if this is the first report, the amount should be the balance on the date the petition was filed. The amounts reported in the “CURRENT MONTH - ACTUAL” column must equal the sum of the four bank account columns. The amounts reported in the “PROJECTED” columns should be taken from the SMALL BUSINESS INITIAL REPORT (FORM IR-1). Attach copies of the bank statements and the cash disbursements journal. The total disbursements journal must equal the total disbursements reported on this page. A bank reconciliation must be attached for each accounts. [See Mor-1 (Con’t)]

	Bank Accounts								Current Month				Cumulative Filing to Date
	Operating		Payroll		Tax		Other		Actual		Projected		Actual		Projected
Cash Beginning of Month
Receipts
Cash Sales
Accounts Receivable
Loans and Advances
Sale of Assets
Other (Attach List)
Transfers (From DIP ACCOUNTS)
Total Receipts	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00
Disbursements
Net Payroll
Payroll Taxes
Sales, Use & Other Taxes
Inventory Purchases
Secured/Rental/Leases
Insurance
Administrative
Selling
Other (Attach List)
Owner Draw*
Transfers (To Dip Accounts)
Professional fees
US Trustee Quarterly Fees
Court Costs
Total Disbursements	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00
Net Cash Flow
(Receipts less Disbursements)	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00
Cash - End of Month	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00

* COMPENSATION TO SOLE PROPRIETORS FOR SERVICES RENDERED TO BANKRUPTCY ESTATE

THE FOLLOWING SECTION MUST BE COMPLETED

Disbursements for calculating US Trustee Quarterly Fees: (From Current Month Actual Column)
Total Disbursements		894,150.20
Less: Transfers to Debtor in Possession Accounts
Plus: Estate Disbursements made by outside sources (i.e. from escrow accounts)
Total Disbursements for calculating US Trustee Quarterly Fees	$	894,150.20

FORM MOR-1

THE THAXTON GROUP
Cash Disbursements for Southern Finance of TN		Case #         03-13206	Case No.         03-13206
Monthly Court Report for	May-05
FED ID#	62-1618281

	Consolidated Totals	Peoples 5003363		Union Planters 3600381309		WACHOVIA DISBURSEMENT ACCOUNTS	WACHOVIA PAYROLL ACCOUNTS	First Tennessee 103193515		Operating		Payroll	Other	Total
Beginning Cash Position	142,210.97	15,684.84		25,355.61		—	—	101,170.52		142,210.97		—	—	142,210.97
	—									—		—	—	—
TICO Cash Collected	—									—		—	—	—
SM Cash Collected	822,503.41	38,211.21		11,846.77		174,970.73		597,474.70		822,503.41		—	—	822,503.41
TIG Cash Collected	—									—		—	—	—
TPF Cash Collected	—									—		—	—	—
TCL Cash Collected	—									—		—	—	—
Other Income Collected	—									—		—	—	—
SUBTOTAL	822,503.41	38,211.21		11,846.77		174,970.73	—	597,474.70		822,503.41		—	—	822,503.41
	—									—		—	—	—
	—									—		—	—	—
GENERAL LEDGER DEPOSITS AND TRANSFERS	101,927.69	(43,302.84	)	(26,010.40	)	604,638.93	114,540.54	(547,938.54	)	(12,612.85	)	114,540.54	—	101,927.69
	—									—		—	—	—
	—									—		—	—	—
	—									—		—	—	—
	—									—		—	—	—
Total Cash Receipts and Transfers	924,431.10	(5,091.63	)	(14,163.63	)	779,609.66	114,540.54	49,536.16		809,890.56		114,540.54	—	924,431.10
										—
Cash Disbursements - Loans										—
										—
Loan Proceeds Checks	537,536.10					537,536.10				537,536.10				537,536.10
Expenses related to Loans	32,233.70					32,233.70				32,233.70				32,233.70
Subtotal - Loans	569,769.80	—		—		569,769.80	—	—		569,769.80		—	—	569,769.80
										—
										—
Cash Disbursements - Other										—
Advertising	8,748.06					8,748.06				8,748.06				8,748.06
Bank Charges	—			—		—				—		—	—	—
Claims Funding*	6,844.73					6,844.73				6,844.73				6,844.73
Company Auto	120.80					120.80				120.80		—	—	120.80
Computer Costs	236.08					236.08				236.08		—	—	236.08
Dues And Subscriptions	—					—				—		—	—	—
Employee Reimbursements - collections exp	—					—				—		—	—	—
Equipment Rental	—					—				—		—	—	—
Fixed Assets	11,359.67					11,359.67				11,359.67		—	—	11,359.67
Forms & Printing	6,098.78					6,098.78				6,098.78		—	—	6,098.78
Insurance	157.27					157.27				157.27		—	—	157.27
Meals & Entertainment	1,511.63					1,511.63				1,511.63		—	—	1,511.63
Miscellaneous	654.20					654.20				654.20		—	—	654.20
Office Expense	436.36					436.36				436.36		—	—	436.36
Postage	2,117.87					2,117.87				2,117.87		—	—	2,117.87
Prepaid Expenses	—					—				—		—	—	—
Prepaid Software ABS	2,023.29					2,023.29				2,023.29		—	—	2,023.29
Professional Fees-Ordinary Course	—					—				—		—	—	—
Rent	21,598.04					21,598.04				21,598.04		—	—	21,598.04
Repairs & Maintenance	1,615.48					1,615.48				1,615.48		—	—	1,615.48
Roadgard	—					—				—		—	—	—
Seminars & Meetings	270.00					270.00				270.00		—	—	270.00
Taxes & Licenses	—					—				—		—	—	—
Telephone	10,263.13					10,263.13				10,263.13		—	—	10,263.13
Temporary Agency Staff	—					—				—		—	—	—
Travel	4,459.27					4,459.27				4,459.27		—	—	4,459.27
Utilities	3,105.52					3,105.52				3,105.52		—	—	3,105.52
Interest to Finova	—					—				—		—	—	—
Payroll Paid TTG	—					—				—		—	—	—
Payroll Paid SMC	242,152.00					127,611.46	114,540.54			127,611.46		114,540.54	—	242,152.00
Restructuring Officer	—					—				—		—	—	—
Insurance Renewal	—					—				—		—	—	—
Voyager Payment	—					—				—		—	—	—
Pre-Filing Prepays	—					—				—		—	—	—
Deposit to Lender	—					—				—		—	—	—
US Trustee	—					—				—		—	—	—
Bankruptcy Professionals	—					—				—		—	—	—
Other	608.22					608.22				608.22		—	—	608.22
Total Other Cash Disbursements	324,380.40	—		—		209,839.86	114,540.54	—		209,839.86		114,540.54	—	324,380.40
										—
TOTAL ALL CASH DISBURSEMENTS	894,150.20	—		—		779,609.66	114,540.54	—		779,609.66		114,540.54	—	894,150.20
	172,491.87	10,593.21		11,191.98		—	—	150,706.68		172,491.87		—	—	172,491.87
Book Balance per bank rec.	172,491.87	10,593.21		11,191.98				150,706.68

In re:	Case No.	03-13205
Southern Management Corporation	Jointly Administered
SEE ATTACHED SCHEDULES	Reporting Period	May-05

SCHEDULE OF CASH RECEIPTS AND DISBURSEMENTS

Amounts reported should be per the debtor’s books, not the bank statements. The beginning cash should be the ending cash the prior month or, if this is the first report, the amount should be the balance on the date the petition was filed. The amounts reported in the “CURRENT MONTH - ACTUAL” column must equal the sum of the four bank account columns. The amounts reported in the “PROJECTED” columns should be taken from the SMALL BUSINESS INITIAL REPORT (FORM IR-1). Attach copies of the bank statements and the cash disbursements journal. The total disbursements journal must equal the total disbursements reported on this page. A bank reconciliation must be attached for each accounts. [See Mor-1 (Con’t)]

	Bank Accounts								Current Month				Cumulative Filing to Date
	Operating		Payroll		Tax		Other		Actual		Projected		Actual		Projected
Cash Beginning of Month
Receipts
Cash Sales
Accounts Receivable
Loans and Advances
Sale of Assets
Other (Attach List)
Transfers (From DIP ACCOUNTS)
Total Receipts	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00
Disbursements
Net Payroll
Payroll Taxes
Sales, Use & Other Taxes
Inventory Purchases
Secured/Rental/Leases
Insurance
Administrative
Selling
Other (Attach List)
Owner Draw*
Transfers (To Dip Accounts)
Professional fees
US Trustee Quarterly Fees
Court Costs
Total Disbursements	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00
Net Cash Flow
(Receipts less Disbursements)	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00
Cash - End of Month	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00

* COMPENSATION TO SOLE PROPRIETORS FOR SERVICES RENDERED TO BANKRUPTCY ESTATE

THE FOLLOWING SECTION MUST BE COMPLETED

Disbursements for calculating US Trustee Quarterly Fees: (From Current Month Actual Column)
Total Disbursements		599,434.72
Less: Transfers to Debtor in Possession Accounts
Plus: Estate Disbursements made by outside sources (i.e. from escrow accounts)
Total Disbursements for calculating US Trustee Quarterly Fees	$	599,434.72

FORM MOR-1

THE THAXTON GROUP
Cash Disbursements for Southern Management Corp		Case No.        03-13205	Case No.        03-13205
Monthly Court Report for	May-05
FED ID#	57-0997623

	Consolidated Totals		BB&T DEBIT CARD ACCT	WACHOVIA DEPOSITORY ACCOUNTS		WACHOVIA DISBURSEMENT ACCOUNTS		WACHOVIA PAYROLL ACCOUNTS		Operating		Payroll	Other	Total
Beginning Cash Position	(837,968.86	)	101,489.62	402,851.37		(1,201,384.97	)	(140,924.88	)	(837,968.86	)	—	—	(837,968.86	)
	—											—	—	—
TICO Cash Collected	—									—		—	—	—
SM Cash Collected	1,584,761.69			1,584,761.69				—		1,584,761.69		—	—	1,584,761.69
TIG Cash Collected	—									—		—	—	—
TPF Cash Collected	—									—		—	—	—
TCL Cash Collected	—									—		—	—	—
Other Income Collected	163.43		163.43							163.43		—	—	163.43
SUBTOTAL	1,584,925.12		163.43	1,584,761.69		—		—		1,584,925.12		—	—	1,584,925.12
	—									—		—	—	—
	—									—		—	—	—
GENERAL LEDGER DEPOSITS AND TRANSFERS	(877,829.73	)		(1,600,062.95	)	517,451.74		204,781.48		(1,082,611.21	)	204,781.48	—	(877,829.73	)
	—									—		—	—	—
	—									—		—	—	—
	—									—		—	—	—
	—									—		—	—	—
Total Cash Receipts and Transfers	707,095.39		163.43	(15,301.26	)	517,451.74		204,781.48		502,313.91		204,781.48	—	707,095.39
Cash Disbursements - Loans
Loan Proceeds Checks	—									—
Expenses related to Loans	—					—				—				—
Subtotal - Loans	—		—	—		—		—		—		—	—	—
Cash Disbursements - Other	—									—
Advertising	16,155.51					16,155.51				16,155.51				16,155.51
Bank Charges	25,258.77					25,258.77				25,258.77		—	—	25,258.77
Claims Funding*	72,997.19					72,997.19				72,997.19				72,997.19
Company Auto	2,275.35					2,275.35				2,275.35		—	—	2,275.35
Computer Costs	5,341.62					5,341.62				5,341.62		—	—	5,341.62
Dues And Subscriptions	745.00					745.00				745.00		—	—	745.00
Employee Reimbursements - collections exp	—					—				—		—	—	—
Equipment Rental	3,223.88					3,223.88				3,223.88		—	—	3,223.88
Fixed Assets	—					—				—		—	—	—
Forms & Printing	22,362.37					22,362.37				22,362.37		—	—	22,362.37
Insurance	216.10					216.10				216.10		—	—	216.10
Meals & Entertainment	1,102.91					1,102.91				1,102.91		—	—	1,102.91
Miscellaneous	22,130.24					22,130.24				22,130.24		—	—	22,130.24
Office Expense	960.05					960.05				960.05		—	—	960.05
Postage	8,686.96					8,686.96				8,686.96		—	—	8,686.96
Prepaid Expenses	—					—				—		—	—	—
Prepaid Software ABS	257.49					257.49				257.49		—	—	257.49
Professional Fees-Ordinary Course	12,258.35					12,258.35				12,258.35		—	—	12,258.35
Rent	20,351.13					20,351.13				20,351.13		—	—	20,351.13
Repairs & Maintenance	—					—				—		—	—	—
Roadgard	—					—				—		—	—	—
Seminars & Meetings	169.00					169.00				169.00		—	—	169.00
Taxes & Licenses	1,058.25					1,058.25				1,058.25		—	—	1,058.25
Telephone	8,315.39					8,315.39				8,315.39		—	—	8,315.39
Temporary Agency Staff	8,902.00					8,902.00				8,902.00		—	—	8,902.00
Travel	11,169.24					11,169.24				11,169.24		—	—	11,169.24
Utilities	—					—				—		—	—	—
Interest to Finova	—					—				—		—	—	—
Payroll Paid TTG	—					—				—		—	—	—
Payroll Paid SMC	304,480.52					182,254.99		122,225.53		182,254.99		122,225.53	—	304,480.52
Restructuring Officer	—					—				—		—	—	—
Insurance Renewal	41,014.39					41,014.39				41,014.39		—	—	41,014.39
Voyager Payment	—					—				—		—	—	—
Pre-Filing Prepays	—					—				—		—	—	—
Deposit to Lender	—					—				—		—	—	—
US Trustee	—					—				—		—	—	—
Bankruptcy Professionals	—					—				—		—	—	—
Other	10,003.01					10,003.01				10,003.01		—	—	10,003.01
Total Other Cash Disbursements	599,434.72		—	—		477,209.19		122,225.53		477,209.19		122,225.53	—	599,434.72
										—		—	—	—
TOTAL ALL CASH DISBURSEMENTS	599,434.72		—	—		477,209.19		122,225.53		477,209.19		122,225.53	—	599,434.72
	(730,308.19	)	101,653.05	387,550.11		(1,161,142.42	)	(58,368.93	)	(812,864.14	)	82,555.95	—	(730,308.19	)
Book Balance per bank rec.	(730,308.17	)	101,653.05	387,550.13		(1,161,142.42	)	(58,368.93	)
	0.02		—			—
				0.02

In re:	Case No.	03-13207
Southern Financial Management, Inc.	Jointly Administered
SEE ATTACHED SCHEDULES	Reporting Period	May-05

SCHEDULE OF CASH RECEIPTS AND DISBURSEMENTS

Amounts reported should be per the debtor’s books, not the bank statements. The beginning cash should be the ending cash the prior month or, if this is the first report, the amount should be the balance on the date the petition was filed. The amounts reported in the “CURRENT MONTH - ACTUAL” column must equal the sum of the four bank account columns. The amounts reported in the “PROJECTED” columns should be taken from the SMALL BUSINESS INITIAL REPORT (FORM IR-1). Attach copies of the bank statements and the cash disbursements journal. The total disbursements journal must equal the total disbursements reported on this page. A bank reconciliation must be attached for each accounts. [See Mor-1 (Con’t)]

	Bank Accounts								Current Month				Cumulative Filing to Date
	Operating		Payroll		Tax		Other		Actual		Projected		Actual		Projected
Cash Beginning of Month
Receipts
Cash Sales
Accounts Receivable
Loans and Advances
Sale of Assets
Other (Attach List)
Transfers (From DIP ACCOUNTS)
Total Receipts	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00
Disbursements
Net Payroll
Payroll Taxes
Sales, Use & Other Taxes
Inventory Purchases
Secured/Rental/Leases
Insurance
Administrative
Selling
Other (Attach List)
Owner Draw*
Transfers (To Dip Accounts)
Professional fees
US Trustee Quarterly Fees
Court Costs
Total Disbursements	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00
Net Cash Flow
(Receipts less Disbursements)	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00
Cash - End of Month	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00

* COMPENSATION TO SOLE PROPRIETORS FOR SERVICES RENDERED TO BANKRUPTCY ESTATE

THE FOLLOWING SECTION MUST BE COMPLETED

Disbursements for calculating US Trustee Quarterly Fees: (From Current Month Actual Column)
Total Disbursements		—
Less: Transfers to Debtor in Possession Accounts
Plus: Estate Disbursements made by outside sources (i.e. from escrow accounts)
Total Disbursements for calculating US Trustee Quarterly Fees	$	0.00

FORM MOR-1

THE THAXTON GROUP
Cash Disbursements for Southern Management - Dormant		Case #        03-13207	Case No.         03-13207
Monthly Court Report for	May-05
FED ID#	57-1013036

	Consolidated Totals							Operating	Payroll	Other	Total
Beginning Cash Position		—	—	—	—	—		—	—	—	—
	—								—	—	—
TICO Cash Collected	—							—	—	—	—
SM Cash Collected	—							—	—	—	—
TIG Cash Collected	—							—	—	—	—
TPF Cash Collected	—							—	—	—	—
TCL Cash Collected	—							—	—	—	—
Other Income Collected	—							—	—	—	—
SUBTOTAL	—	—	—	—	—	—	—	—	—	—	—
	—							—	—	—	—
	—							—	—	—	—
GENERAL LEDGER DEPOSITS AND TRANSFERS	—							—	—	—	—
								—	—	—	—
	—							—	—	—	—
	—							—	—	—	—
	—							—	—	—	—
Total Cash Receipts and Transfers		—	—		—	—	—		—	—
Cash Disbursements - Loans
Loan Proceeds Checks
Expenses related to Loans
Subtotal - Loans	—	—	—	—	—	—		—	—	—	—
Cash Disbursements - Other
Advertising
Bank Charges				—				—	—	—	—
Claims Funding*	—			—
Company Auto	—			—				—	—	—	—
Computer Costs								—	—	—	—
Dues And Subscriptions								—	—	—	—
Employee Reimbursements - collections exp								—	—	—	—
Equipment Rental								—	—	—	—
Fixed Assets								—	—	—	—
Forms & Printing								—	—	—	—
Insurance								—	—	—	—
Meals & Entertainment								—	—	—	—
Miscellaneous								—	—	—	—
Office Expense								—	—	—	—
Postage								—	—	—	—
Prepaid Expenses								—	—	—	—
Prepaid Software ABS								—	—	—	—
Professional Fees-Ordinary Course								—	—	—	—
Rent								—	—	—	—
Repairs & Maintenance								—	—	—	—
Roadgard								—	—	—	—
Seminars & Meetings								—	—	—	—
Taxes & Licenses								—	—	—	—
Telephone								—	—	—	—
Temporary Agency Staff								—	—	—	—
Travel								—	—	—	—
Utilities								—	—	—	—
Interest to Finova								—	—	—	—
Payroll Paid TTG								—	—	—	—
Payroll Paid SMC								—	—	—	—
Restructuring Officer								—	—	—	—
Insurance Renewal								—	—	—	—
Voyager Payment								—	—	—	—
Pre-Filing Prepays								—	—	—	—
Deposit to Lender								—	—	—	—
US Trustee								—	—	—	—
Bankruptcy Professionals								—	—	—	—
								—	—	—	—
Total Other Cash Disbursements	—	—	—	—	—	—	—	—	—	—	—
								—	—	—	—
TOTAL ALL CASH DISBURSEMENTS	—	—	—	—	—	—	—	—	—	—	—
	—	—	—	—	—	—	—	—	—	—	—
Book Balance per bank rec.			—	—	—

In re:	Case No.	03-13213
Covington Credit of Louisiana, Inc.	Jointly Administered
SEE ATTACHED SCHEDULES	Reporting Period	May-05

SCHEDULE OF CASH RECEIPTS AND DISBURSEMENTS

Amounts reported should be per the debtor’s books, not the bank statements. The beginning cash should be the ending cash the prior month or, if this is the first report, the amount should be the balance on the date the petition was filed. The amounts reported in the “CURRENT MONTH - ACTUAL” column must equal the sum of the four bank account columns. The amounts reported in the “PROJECTED” columns should be taken from the SMALL BUSINESS INITIAL REPORT (FORM IR-1). Attach copies of the bank statements and the cash disbursements journal. The total disbursements journal must equal the total disbursements reported on this page. A bank reconciliation must be attached for each accounts. [See Mor-1 (Con’t)]

	Bank Accounts								Current Month				Cumulative Filing to Date
	Operating		Payroll		Tax		Other		Actual		Projected		Actual		Projected
Cash Beginning of Month
Receipts
Cash Sales
Accounts Receivable
Loans and Advances
Sale of Assets
Other (Attach List)
Transfers (From DIP ACCOUNTS)
Total Receipts	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00
Disbursements
Net Payroll
Payroll Taxes
Sales, Use & Other Taxes
Inventory Purchases
Secured/Rental/Leases
Insurance
Administrative
Selling
Other (Attach List)
Owner Draw*
Transfers (To Dip Accounts)
Professional fees
US Trustee Quarterly Fees
Court Costs
Total Disbursements	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00
Net Cash Flow
(Receipts less Disbursements)	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00
Cash - End of Month	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00

* COMPENSATION TO SOLE PROPRIETORS FOR SERVICES RENDERED TO BANKRUPTCY ESTATE

THE FOLLOWING SECTION MUST BE COMPLETED

Disbursements for calculating US Trustee Quarterly Fees: (From Current Month Actual Column)
Total Disbursements		—
Less: Transfers to Debtor in Possession Accounts
Plus: Estate Disbursements made by outside sources (i.e. from escrow accounts)
Total Disbursements for calculating US Trustee Quarterly Fees	$	0.00
		FORM MOR-1

THE THAXTON GROUP
Cash Disbursements for Southern Management - Lousiana - InActive		Case #         03-13210	Case No.         03-13210
Monthly Court Report for	May-05
FED ID#	57-1096371

	Consolidated Totals							Operating	Payroll	Other	Total
Beginning Cash Position	—	—	—	—	—	—		—	—	—	—
	—								—	—	—
TICO Cash Collected	—							—	—	—	—
SM Cash Collected	—							—	—	—	—
TIG Cash Collected	—							—	—	—	—
TPF Cash Collected	—							—	—	—	—
TCL Cash Collected	—							—	—	—	—
Other Income Collected	—							—	—	—	—
SUBTOTAL	—	—	—	—	—	—	—	—	—	—	—
	—							—	—	—	—
	—							—	—	—	—
GENERAL LEDGER DEPOSITS AND TRANSFERS	—							—	—	—	—
	—							—	—	—	—
	—							—	—	—	—
	—							—	—	—	—
	—							—	—	—	—
Total Cash Receipts and Transfers
Cash Disbursements - Loans
Loan Proceeds Checks
Expenses related to Loans
Subtotal - Loans	—	—	—	—	—	—		—	—	—	—
Cash Disbursements - Other
Advertising
Bank Charges	—			—				—	—	—	—
Claims Funding*	—			—
Company Auto	—			—				—	—	—	—
Computer Costs	—			—				—	—	—	—
Dues And Subscriptions	—			—				—	—	—	—
Employee Reimbursements - collections exp								—	—	—	—
Equipment Rental								—	—	—	—
Fixed Assets								—	—	—	—
Forms & Printing								—	—	—	—
Insurance								—	—	—	—
Meals & Entertainment								—	—	—	—
Miscellaneous								—	—	—	—
Office Expense								—	—	—	—
Postage								—	—	—	—
Prepaid Expenses								—	—	—	—
Prepaid Software ABS								—	—	—	—
Professional Fees-Ordinary Course								—	—	—	—
Rent								—	—	—	—
Repairs & Maintenance								—	—	—	—
Roadgard								—	—	—	—
Seminars & Meetings								—	—	—	—
Taxes & Licenses								—	—	—	—
Telephone								—	—	—	—
Temporary Agency Staff								—	—	—	—
Travel								—	—	—	—
Utilities								—	—	—	—
Interest to Finova								—	—	—	—
Payroll Paid TTG								—	—	—	—
Payroll Paid SMC								—	—	—	—
Restructuring Officer								—	—	—	—
Insurance Renewal								—	—	—	—
Voyager Payment								—	—	—	—
Pre-Filing Prepays								—	—	—	—
Deposit to Lender								—	—	—	—
US Trustee								—	—	—	—
Bankruptcy Professionals								—	—	—	—
								—	—	—	—
Total Other Cash Disbursements	—	—	—	—	—	—	—	—	—	—	—
								—	—	—	—
TOTAL ALL CASH DISBURSEMENTS	—	—	—	—	—	—	—	—	—	—	—
	—	—	—	—	—	—	—	—	—	—	—
Book Balance per bank rec.			—	—	—

In re:	Case No.	03-13182-0 3- 13213
THE THAXTON GROUP	Jointly Administered
	Reporting Period	May-05
SEE ATTACHED FINANCIAL STATEMENTS

STATEMENT OF OPERATIONS

(Income Statement)

The Statement of Operations is to be prepared on an accrual basis. The accrual basis of account recognizes revenue when it is realized and expenses when they are incurred, regardless of when cash is actually received or paid.

REVENUES	Month		Cumulative Filing to Date
Gross Revenues
Less: Returns and Allowances
Net Revenue	$	0.00	$	0.00
COST OF GOODS SOLD
Beginning Inventory
Add: Purchases
Add: Cost of Labor
Add: Other Costs (attach Schedule)
Less: Ending Inventory
Cost of Goods Sold	$	0.00	$	0.00
Gross Profit	$	0.00	$	0.00
OPERATING EXPENSES
Advertising
Auto and Truck Expense
Bad Debts
Contributions
Employee Benefits Program
Insider Compensation*
Insurance
Management Fees/Bonuses
Office Expense
Salaries/Commissions/Fees
Supplies
Taxes-Payroll
Taxes-Real Estate
Taxes-Other
Travel and Entertainment
Utilities
Other (attach schedule)
Total Operating Expenses Before Depreciation	$	0.00	$	0.00
Net Profit(Loss) Before Other Income & Expenses	$	0.00	$	0.00
OTHER INCOME AND EXPENSE
Other Income (attach schedule)
Interest Income
Other Expense (attach schedule)
Net Profit (Loss) Before Reorganization Items	$	0.00	$	0.00
REORGANIZATION ITEMS
Professional Fees
US Trustee Quarterly Fees
Interest Earned on Accumulated Cash from Chapter 11(see continuation sheet)
Gain (Loss) from Sale of Equipment
Other Reorganization Expenses (attach schedule)
Total Reorganization Expenses	$	0.00	$	0.00
Income Taxes
Net Profit (Loss)	$	0.00	$	0.00

*“Insider is defined in 11 U.S.C Section 101(31). Form Mor - 2

In re:	Case No.	03-13182 - 03-13213
THE THAXTON GROUP	Jointly Administered
SEE ATTACHED FINANCIAL STATEMENTS	Reporting Period	May-05

STATEMENT OF OPERATIONS - continuation sheet

BREAKDOWN OF OTHER CATEGORY	Month		Cumulative Filing to Date
Other Costs
Total Other Costs	$	0.00	$	0.00
Other Operational Expenses
Total Other Operational Costs	$	0.00	$	0.00
Other Income
Total Other Income	$	0.00	$	0.00
Other Expenses
Total Other Expenses	$	0.00	$	0.00
Other Reorganization Expenses
Total Other Reorganization Expenses	$	0.00	$	0.00

Reorganization Items - Interest Earned on Accumulated Cash from Chapter 11:

Interest earned on cash accumulated during the chapter 1 case, which would not have been earned but for the bankruptcy proceeding, should be reported as a reorganization item.

Form Mor-2 (Con’t)

The Thaxton Group

MTD Income Statement

5/31/2005

	Premium Finance		Commercial Lending	Insurance Group	Southern		Corporate		Eliminations	Total Continuing Ops.				Discontinued TICO		Total Company
Net Interest Income
Interest Income	—		—	—	2,943,119		—		—	2,943,119		73.6	%	—		2,943,119		73.7	%
I/B Income	—		—	—	—		—		—	—		0.0	%	4,731		4,731		0.1	%
Fee Income	—		—	—	448,864		—		—	448,864		11.2	%	—		448,864		11.2	%
Late Charges	—		—	—	214,236		—		—	214,236		5.4	%	—		214,236		5.4	%
Total Interest Income	—		—	—	3,606,218		—		—	3,606,218		90.2	%	4,731		3,610,950		90.5	%
Interest Expense	—		—	—	117,562		262,037		—	379,599		9.5	%	1,015		380,615		9.5	%
Net Interest Income	—		—	—	3,488,656		(262,037	)	—	3,226,619		80.7	%	3,716		3,230,335		80.9	%
Provision for Loan Losses
P&L Recoveries	—		—	—	(55,578	)	—		—	(55,578	)	-1.4	%	(20,156	)	(75,735	)	-1.9	%
Reserves	—		—	—	—		—		—	—		0.0	%	—		—		0.0	%
Cash	—		—	—	709,617		—		—	709,617		17.7	%	—		709,617		17.8	%
Total Provision	—		—	—	654,039		—		—	654,039		16.4	%	(20,156	)	633,882		15.9	%
Net Interest included Provision	—		—	—	2,834,617		(262,037	)	—	2,572,580				23,873		2,596,453
Revenues
Premiums on Loans Sold	—		—	—	—		—		—	—		0.0	%	—		—		0.0	%
Insurance Premiums	—		—	—	356,863		—		—	356,863		8.9	%	11,882		368,745		9.2	%
Insurance Commissions	—		—	—	(29,128	)	—		—	(29,128	)	-0.7	%	—		(29,128	)	-0.7	%
Earned Insurance	—		—	—	—		—		—	—		0.0	%	—		—		0.0	%
Processing Fees	—		—	—	—		—		—	—		0.0	%	—		—		0.0	%
Other Fees	—		—	—	26,539		—		—	26,539		0.7	%	—		26,539		0.7	%
Other Income	—		—	—	268		38,795		—	39,063		1.0	%	(24,182	)	14,881		0.4	%
Total Direct Income	—		—	—	354,542		38,795		—	393,337		9.8	%	(12,300	)	381,037		9.5	%
Total Revenue	—		—	—	3,960,760		38,795		—	3,999,555		100.0	%	(7,569	)	3,991,986		100.0	%
Expenses
Personnel
Salaries & Wages	—		—	—	1,265,754		77,105		—	1,342,859		33.6	%	—		1,342,859		33.6	%
Commissions/Bonus	—		—	—	281,437		43,500		—	324,937		8.1	%	—		324,937		8.1	%
Benefits	—		—	—	106,893		2,210		—	109,102		2.7	%	—		109,102		2.7	%
Taxes	—		—	—	143,394		6,436		—	149,830		3.7	%	—		149,830		3.8	%
Other	—		—	—	12,669		1,070		—	13,739		0.3	%	—		13,739		0.3	%
Total Personnel	—		—	—	1,810,146		130,321		—	1,940,467		48.5	%	—		1,940,467		48.6	%
Building
Rent	—		—	—	183,628		5,219		—	188,846		4.7	%	—		188,846		4.7	%
Utilities	—		—	—	32,229		265		—	32,493		0.8	%	(153	)	32,340		0.8	%
Depreciation	—		—	—	55,443		20,075		—	75,517		1.9	%	9,796		85,314		2.1	%
Other	—		—	—	9,536		—		—	9,536		0.2	%	—		9,536		0.2	%
Total Building	—		—	—	280,835		25,558		—	306,393		7.7	%	9,643		316,037		7.9	%
Telecommunications
Telephone	—		—	—	82,863		194		—	83,057		2.1	%	—		83,057		2.1	%
Computers	1,150		—	—	2,532		3,463		—	7,145		0.2	%	—		7,145		0.2	%
Office Expense	—		—	—	—		—		—	—		0.0	%	—		—		0.0	%
Other	—		—	—	—		—		—	—		0.0	%	—		—		0.0	%
Total Telecommunications	1,150		—	—	85,395		3,657		—	90,202		2.3	%	—		90,202		2.3	%
Advertising	—		—	—	134,150		(20,597	)	—	113,553		2.8	%	—		113,553		2.8	%
Reinsurance Claims Expense	—		—	—	(14,905	)	—		—	(14,905	)	-0.4	%	18,163		3,257		0.1	%
Reinsurance Commission Exp	—		—	—	—		—		—	—		0.0	%	7,842		7,842		0.2	%
Professional Fees	—		—	—	36,635		39,200		—	75,836		1.9	%	—		75,836		1.9	%
Collection Expense	—		—	—	1,088		—		—	1,088		0.0	%	1,672		2,760		0.1	%
Travel	—		—	—	87,239		165		—	87,404		2.2	%	—		87,404		2.2	%
Office Expense	—		—	—	100,916		1,151		—	102,067		2.6	%	32		102,099		2.6	%
Entertainment	—		—	—	—		—		—	—		0.0	%	—		—		0.0	%
Amortization	—		—	—	12,309		—		—	12,309		0.3	%	—		12,309		0.3	%
Taxes & Licenses	—		—	—	32,417		838		—	33,256		0.8	%	—		33,256		0.8	%
Other	—		—	—	51,933		(9,832	)	—	42,100		1.1	%	(14,123	)	27,978		0.7	%
Total Other Expense	—		—	—	197,575		(7,843	)	—	189,732		4.7	%	(14,090	)	175,641		4.4	%
Total Direct Expense	1,150		—	—	3,389,759		432,499		—	3,823,408		95.6	%	4,089		3,827,497		95.9	%
Allocated Expense	—		—	—	—		—		—	—		0.0	%	—		—		0.0	%
Net Income Before Restructure	(1,150	)	—	—	571,001		(393,704	)	—	176,147		4.4	%	(11,657	)	164,490		4.1	%
Restructuring Expenses	—		—	—	—		2,073,314		—	2,073,314		51.8	%	—		2,073,314		51.9	%
Net Income After Restructure	(1,150	)	—	—	571,001		(2,467,018	)	—	(1,897,167	)			(11,657	)	(1,908,824	)
Income Tax (34%)	—		—	—	220,521		—		—	220,521		5.5	%	—		220,521		5.5	%
Net Income	(1,150	)	—	—	350,481		(2,467,018	)	—	(2,117,687	)	-52.9	%	(11,657	)	(2,129,345	)	-53.3	%

The Thaxton Group

YTD Income Statement

For Period October 17, 2003 thru May 31, 2005

	Premium Finance		Commercial Lending		Insurance Group		Southern		Corporate		Eliminations	Total Continuing Ops.				Discontinued Ops TICO		Total Company
Net Interest Income
Interest Income	365,619		12,926		—		60,264,376		36		—	60,642,957		67.9	%	10,166,085		70,809,042		82.5	%
I/B Income	—		—		—		—		—		—	—		0.0	%	3,648,175		3,648,175		4.2	%
Fee Income	226,383		105,384		—		6,803,618		—		—	7,135,385		8.0	%	51,566		7,186,951		8.4	%
Late Charges	149,281		—		—		4,632,221		—		—	4,781,502		5.4	%	1,064,348		5,845,850		6.8	%
Total Interest Income	741,283		118,310		—		71,700,215		36		—	72,559,844		81.3	%	14,930,174		87,490,018		101.9	%
Interest Expense	113,794		52,912		0		3,159,508		4,156,137		—	7,482,351		8.4	%	3,243,545		10,725,896		12.5	%
Net Interest Income	627,489		65,398		(0	)	68,540,707		(4,156,101	)	—	65,077,493		72.9	%	11,686,629		76,764,122		89.4	%
Provision for Loan Losses
P&L Recoveries	(9,385	)	(110	)	—		(873,097	)	—		—	(882,592	)	-1.0	%	(2,505,667	)	(3,388,259	)	-3.9	%
Reserves	—		(20,000	)	—		(757,293	)	—		—	(777,293	)	-0.9	%	(7,657,559	)	(8,434,852	)	-9.8	%
Cash	557,239		64,134		4,612		19,569,808		—		—	20,195,793		22.6	%	21,303,124		41,498,917		48.3	%
Total Provision	547,854		44,024		4,612		17,939,419		—		—	18,535,908		20.8	%	11,139,899		29,675,807		34.6	%
Net Interest included Provision	79,635		21,375		(4,612	)	50,601,288		(4,156,101	)	—	46,541,585				546,730		47,088,315
Revenues
Premiums on Loans Sold	—		—		—		—		—		—	—		0.0	%	—		—		0.0	%
Insurance Premiums	—		—		—		9,464,078		—		—	9,464,078		10.6	%	1,495,421		10,959,498		12.8	%
Insurance Commissions	—		—		3,223,179		(1,178,362	)	—		—	2,044,817		2.3	%	79,011		2,123,828		2.5	%
Earned Insurance	—		—		—		—		—		—	—		0.0	%	382,122		382,122		0.4	%
Processing Fees	—		—		—		—		—		—	—		0.0	%	—		—		0.0	%
Other Fees	—		—		896		536,914		—		—	537,810		0.6	%	—		537,810		0.6	%
Other Income	—		256,832		2,040,050		1,609,447		782,733		—	4,689,062		5.3	%	(20,308,076	)	(15,619,014	)	-18.2	%
Total Direct Income	—		256,832		5,264,125		10,432,076		782,733		—	16,735,766		18.7	%	(18,351,522	)	(1,615,756	)	-1.9	%
Total Revenue	741,283		375,142		5,264,125		82,132,291		782,770		—	89,295,610		100.0	%	(3,421,348	)	85,874,262		100.0	%
Expenses
Personnel
Salaries & Wages	86,164		172,532		1,557,993		23,443,094		1,700,763		—	26,960,546		30.2	%	5,116,963		32,077,509		37.4	%
Commissions/Bonus	—		58,213		366,715		3,905,351		302,445		—	4,632,723		5.2	%	481,502		5,114,225		6.0	%
Benefits	6,989		12,842		142,412		2,484,746		79,450		—	2,726,438		3.1	%	451,031		3,177,469		3.7	%
Taxes	6,914		15,553		159,820		2,567,630		158,483		—	2,908,400		3.3	%	576,977		3,485,377		4.1	%
Other	—		—		66,338		182,641		81,411		—	330,390		0.4	%	130,139		460,528		0.5	%
Total Personnel	100,067		259,140		2,293,278		32,583,462		2,322,551		—	37,558,497		42.1	%	6,756,611		44,315,108		51.6	%
Building
Rent	392		9,889		184,677		3,258,107		216,564		—	3,669,629		4.1	%	865,968		4,535,597		5.3	%
Utilities	—		216		40,071		728,889		42,162		—	811,338		0.9	%	152,785		964,123		1.1	%
Depreciation	40,494		2,445		84,488		1,190,956		322,326		—	1,640,710		1.8	%	563,408		2,204,118		2.6	%
Other	428		257		—		290,639		12,079		—	303,403		0.3	%	109,340		412,742		0.5	%
Total Building	41,314		12,806		309,236		5,468,591		593,132		—	6,425,079		7.2	%	1,691,501		8,116,580		9.5	%
Telecommunications
Telephone	6,010		6,411		89,222		1,632,624		164,960		—	1,899,227		2.1	%	393,284		2,292,511		2.7	%
Computers	24,981		3,315		80,347		487,693		231,450		—	827,785		0.9	%	367,395		1,195,180		1.4	%
Office Expense	866		415		16,583		350,964		23,580		—	392,408		0.4	%	91,889		484,297		0.6	%
Other	—		—		(551	)	—		—		—	(551	)	0.0	%	700		149		0.0	%
Total Telecommunications	31,857		10,141		185,601		2,471,281		419,989		—	3,118,869		3.5	%	853,267		3,972,136		4.6	%
Advertising	—		113		43,816		2,329,512		4,720		—	2,378,161		2.7	%	163,791		2,541,951		3.0	%
Reinsurance Claims Expense	—		—		—		1,236,568		—		—	1,236,568		1.4	%	1,498,649		2,735,217		3.2	%
Reinsurance Commission Exp	—		—		—		—		—		—	—		0.0	%	384,603		384,603		0.4	%
Professional Fees	2,386		9,408		36,482		464,239		25,858,931		—	26,371,446		29.5	%	95,621		26,467,067		30.8	%
Collection Expense	1,860		51		—		35,676		—		—	37,587		0.0	%	675,901		713,488		0.8	%
Travel	—		6,620		24,540		1,640,217		126,116		—	1,797,494		2.0	%	207,618		2,005,112		2.3	%
Office Expense	23,071		3,158		52,550		1,949,855		219,587		—	2,248,221		2.5	%	485,968		2,734,188		3.2	%
Entertainment	—		68		—		110,465		35		—	110,569		0.1	%	126		110,695		0.1	%
Amortization	—		—		101,806		258,203		—		—	360,009		0.4	%	12,568,082		12,928,091		15.1	%
Taxes & Licenses	5,636		3,405		20,599		459,254		69,434		—	558,328		0.6	%	201,114		759,442		0.9	%
Other	1,326		29,298		567,361		2,148,410		124,629		—	2,871,024		3.2	%	2,192,089		5,063,114		5.9	%
Total Other Expense	30,033		35,930		742,315		4,926,188		413,685		—	6,148,151		6.9	%	15,447,379		21,595,530		25.1	%
Total Direct Expense	869,165		431,143		3,639,880		72,254,661		33,895,262		—	111,090,111		124.4	%	42,158,384		153,248,496		178.5	%
Allocated Expense	—		—		15,097		21,858		(79,452	)	—	(42,497	)	0.0	%	42,497		0		0.0	%
Net Income Before Taxes	(127,882	)	(56,002	)	1,609,148		9,855,772		(33,033,041	)	—	(21,752,005	)	-24.4	%	(45,622,229	)	(67,374,234	)	-78.5	%
Income Tax (34%)	—		—		66,684		3,576,390		5,598,039		—	9,241,112		10.3	%	(6,674,996	)	2,566,117		3.0	%
Net Income	(127,882	)	(56,002	)	1,542,464		6,279,383		(38,631,080	)	—	(30,993,117	)	-34.7	%	(38,947,233	)	(69,940,350	)	-81.4	%

THE THAXTON GROUP MONTHLY OPERATING REPORT - May 2004 Income Statement YTD

In re:	Case No.	03-13182 - 03-13213
THE THAXTON GROUP	Jointly Administered
SEE ATTACHED FINANCIAL STATEMENTS	Reporting Period	May-05

BALANCE SHEET

The Balance Sheet is to be completed on an accrual basis only. Pre-petition liabilities must be classified separately from postpetition obligations.

	Book Value at End of Current Reporting Month		Book Value on Petition Date
ASSETS
Current Assets
Unrestricted Cash and Equivalents
Restricted Cash and Cash Equivalents (see continuation sheet)
Accounts Receivable (Net)
Notes Receivable
Inventories
Prepaid Expenses
Professional Retainers
Other Current Assets (attach schedule)
Total Current Assets	$	0.00	$	0.00
Property and Equipment
Real Property and Improvements
Machinery and Equipment
Furniture, Fixtures and Office Equipment
Leasehold Improvements
Vehicles
Less Accumulated Depreciation
Total Property and Equipment	$	0.00	$	0.00
Other Assets
Loans to Insiders*
Other Assets (attach schedule)
Total Other Assets	$	0.00	$	0.00
TOTAL ASSETS	$	0.00	$	0.00
	Book Value at End of Current Reporting Month		Book Value on Petition Date
LIABILITIES AND OWNER EQUITY
LIABILITIES NOT SUBJECT TO COMPROMISE (Postpetition)
Accounts Payable
Taxes Payable (refer to Form Mor-4)
Wages Payable
Notes Payable
Rent /Leases- Building/Equipment
Secured Debt/Adequate Protection Payments
Professional Fees
Amount Due to Insiders*
Other Postpetition Liabilities (attach schedule)
Total Postpetition Liabilities	$	0.00	$	0.00
LIABILITIES SUBJECT TO COMPROMISE (Pre-petition)
Secured Debt
Priority Debt
Unsecured Debt
Total Pre-petition Liabilities	$	0.00	$	0.00
TOTAL LIABILITIES	$	0.00	$	0.00
Owner Equity
Capital Stock
Additional Paid-In Capital
Partners’ Capital Account
Owner's Equity Account
Retained Earnings - Pre-Petition
Retained Earnings - Post-Petition
Adjustments to Owner Equity (attach schedule)
Postpetition Contributions (Distributions) (Draws) (attach schedule)
NET OWNER EQUITY	$	0.00	$	0.00
TOTAL LIABILITIES AND OWNERS’ EQUITY	$	0.00	$	0.00

*  “Insider is defined in 11 U.S.C Section 101(31). Form Mor - 3

In re:	Case No.	03-13182-03-13213
THE THAXTON GROUP	Jointly Administered
SEE ATTACHED FINANCIAL STATEMENTS	Reporting Period	May-05

BALANCE SHEET

The Balance Sheet is to be completed on an accrual basis only. Pre-petition liabilities must be classified separately from postpetition obligations.

	Book Value at End of Current Reporting Month		Book Value on Petition Date
ASSETS
Other Current Assets
Total Other Current Assets	$	0.00	$	0.00
Other Assets
Total Other Assets	$	0.00	$	0.00
	Book Value at End of Current Reporting Month		Book Value on Petition Date
LIABILITIES AND OWNER EQUITY
Other Postpetition Liabilities
Total Other Postpetition Liabilities	$	0.00	$	0.00
Adjustments to Owner Equity
Total Adjustments to Owner Equity	$	0.00	$	0.00
Postpetition Contributions (Distributions) (Draws)
Total Postpetition Contributions (Distributions) (Draws)	$	0.00	$	0.00

Restricted Cash: cash that is restricted for a specific use and not available to fund operations. Typically, restricted cash is segregated into a separate account, such as an escrow account. Form Mor - 3 (Con’t)

The Thaxton Group

Balance Sheet

5/31/2005

	Premium Finance		Commercial Lending	Insurance Group		Southern		Corporate		Corporate Eliminations		Total Continuing Ops		Discontinued Operations				Total Disc. Ops		Total Company
														TICO		Reinsurance
Assets
Cash/Investments	(5,583	)	—	—		935,170		23,800,514		—		24,730,101		(38,086	)	—		(38,086	)	24,692,015
Restricted Cash	—		—	—		—		12,196,688		—		12,196,688		—		—		—		12,196,688
Finance Receivables, GROSS	—		—	—		67,466,009		—		—		67,466,009		524,320		—		524,320		67,990,329
Loans Held for Sale	—		—	—		—		—		—		—		—		—		—		—
Deferred Loan Cost, NET	—		—	—		—		—		—		—		—		—		—		—
Unearned Interest	—		—	—		(11,767,370	)	—		—		(11,767,370	)	(6	)	—		(6	)	(11,767,376	)
Loss Reserve	—		—	—		(8,996,784	)	(25,000	)	—		(9,021,784	)	(599,755	)	—		(599,755	)	(9,621,538	)
Unearned Insurance	—		—	—		(801,771	)	—		—		(801,771	)	(1,996,230	)	(408,374	)	(2,404,603	)	(3,206,374	)
Dealer Holdback	—		—	—		—		—		—		—		—		—		—		—
Premises and Equipment, GROSS	—		—	—		6,724,096		498,627		—		7,222,723		419,242		—		419,242		7,641,965
Accumulated Depreciation	—		—	—		(5,118,588	)	(399,388	)	—		(5,517,976	)	(338,666	)	—		(338,666	)	(5,856,642	)
Accounts Receivable	73,260		—	(102	)	39,539		4,378,400		—		4,491,097		1,161,463		(3,026,837	)	(1,865,374	)	2,625,723
Repossessed Automobiles	—		—	—		—		—		—		—		116,145		—		116,145		116,145
Intercompany Balance	568,488		57,761	(3,413,149	)	(30,083,644	)	75,944,700		(6,248,675	)	36,825,481		(46,413,571	)	9,588,090		(36,825,481	)	0
Goodwill	—		—	—		18,187,201		—		—		18,187,201		—		—		—		18,187,201
Other Intangible Assets	—		—	—		278		—		—		278		—		—		—		278
Accumulated Amortization	—		—	—		(335,110	)	—		—		(335,110	)	—		—		—		(335,110	)
Memo Assets	—		—	—		—		—		—		—		—		—		—		—
Investment In Subsidiary	—		—	—		—		12,160,920		(12,160,920	)	—		(900	)	—		(900	)	(900	)
DAC Commissions	—		—	—		—		—		—		—		—		144,872		144,872		144,872
Prepaid Assets	—		—	—		938,096		17,534		—		955,631		25,449		—		25,449		981,080
Other Assets	—		—	—		686,349		142,365		—		828,714		11,696		70,729		82,425		911,138
Total Assets	636,165		57,761	(3,413,251	)	37,873,471		128,715,361		(18,409,595	)	145,459,912		(47,128,899	)	6,368,480		(40,760,419	)	104,699,492
Liabilities & Stockholders’ Equity
Liabilities
Accrued Interest Payable	—		—	1,510		—		2,571,301		—		2,572,810		32,347		—		32,347		2,605,157
Notes Payable	—		—	67,738		—		39,824,703		—		39,892,441		—		—		—		39,892,441
Subordinated Notes Payable	—		—	—		—		120,905,289		—		120,905,289		1,896,058		—		1,896,058		122,801,348
Accounts Payable	4,236		1,509	13,541		494,918		45,935		—		560,139		493,774		326,951		820,725		1,380,864
Employee Savings	—		—	—		—		1,060,395		—		1,060,395		—		—		—		1,060,395
Income Taxes Payable	—		—	—		2,223,112		(4,600	)	—		2,218,512		—		124,370		124,370		2,342,882
Claims Reserves	—		—	—		—		—		—		—		—		217,396		217,396		217,396
Accrued Liabilities - Other	2,334		—	—		2,063,261		80,016		—		2,145,611		29,159		8,171		37,330		2,182,942
Other Liabilities	296,174		—	—		52,478		41,261		—		389,913		40,969		140,089		181,058		570,970
Total Liabilities	302,744		1,509	82,789		4,833,769		164,524,300		—		169,745,111		2,492,307		816,977		3,309,284		173,054,395
Stockholders’ Equity
Preferred Stock	—		—	408,332		—		8,804		(408,332	)	8,804		—		—		—		8,804
Common Stock	25,000		—	400		(2,374,859	)	68,671		2,349,459		68,670		—		—		—		68,670
Additional Paid in Capital	851,000		—	800,000		1,768,585		8,835,246		(3,419,685	)	8,835,146		—		—		—		8,835,146
Dividends	—		—	—		(1,078,197	)	(443,873	)	1,079,297		(442,773	)	—		—		—		(442,773	)
Retained Earnings	(519,190	)	56,252	(4,704,772	)	32,960,517		(34,001,849	)	(18,010,334	)	(24,219,377	)	(50,042,021	)	5,106,090		(44,935,931	)	(69,155,308	)
Equity in Subsidiary	—		—	—		—		—		—		—		—		—		—		—
Current Year Income (Loss)	(23,388	)	—	—		1,763,656		(10,275,938	)	—		(8,535,670	)	420,815		445,413		866,228		(7,669,442	)
Total Stockholders’ Equity	333,421		56,252	(3,496,040	)	33,039,702		(35,808,938	)	(18,409,595	)	(24,285,199	)	(49,621,206	)	5,551,503		(44,069,703	)	(68,354,902	)
Total Liabilities & Stockholders’ Equity	636,165		57,761	(3,413,251	)	37,873,471		128,715,361		(18,409,595	)	145,459,912		(47,128,899	)	6,368,480		(40,760,419	)	104,699,492

The Thaxton Group

Balance Sheet

10/17/2003

																	NONE BANKRUPTCY
	Premium Finance		Commercial Lending		Insurance Group		Southern		Corporate		Corporate Eliminations		TICO		Total		Reinsurance		Total Company
Assets
Cash	(371,234	)	(37,104	)	(116,373	)	1,398,695		21,369,308		—		(953,205	)	21,290,087		—		21,290,087
Investments/Restricted Cash	—		—		—		—		12,107,856		—		—		12,107,856		—		12,107,856
Finance Receivables, GROSS	4,190,018		1,474,512		—		77,545,790		—		—		134,271,101		217,481,421		—		217,481,421
Loans Held for Sale	—		—		—		—		—		—		—		—		—		—
Deferred Loan Cost, NET	—		—		—		—		—		—		2,362,384		2,362,384		—		2,362,384
Unearned Interest	(121,109	)	—		—		(13,237,418	)	—		—		(16,526,612	)	(29,885,139	)	—		(29,885,139	)
Loss Reserve	(300,000	)	(200,000	)	—		(5,317,281	)	(25,000	)	—		(7,747,043	)	(13,589,324	)	—		(13,589,324	)
Unearned Insurance	—		—		—		(2,906,735	)	—		—		(742,857	)	(3,649,592	)	(5,332,163	)	(8,981,755	)
Dealer Holdback	—		—		—		—		—		—		(2,225,806	)	(2,225,806	)	—		(2,225,806	)
Premises and Equipment, GROSS	206,231		71,891		1,154,498		6,841,533		1,111,796		—		4,888,186		14,274,134		—		14,274,134
Accumulated Depreciation	(165,736	)	(68,396	)	(974,034	)	(4,162,508	)	(580,712	)	—		(3,647,530	)	(9,598,916	)	—		(9,598,916	)
Accounts Receivable	—		—		163,208		399,412		4,347		—		35,193		602,160		—		602,160
Repossessed Automobiles	—		—		—		—		—		—		404,107		404,107		—		404,107
Intercompany Balance	(3,042,529	)	(964,230	)	(6,423,721	)	(49,993,378	)	193,510,864		(6,248,675	)	(140,136,058	)	(13,297,726	)	13,297,726		0
Goodwill	348,938		—		353,379		17,749,087		—		—		13,499,015		31,950,419		—		31,950,419
Other Intangible Assets	—		—		2,030,601		2,979		—		—		—		2,033,580		—		2,033,580
Accumulated Amortization	(220,994	)	—		(1,153,028	)	—		—		—		(1,047,922	)	(2,421,944	)	—		(2,421,944	)
Memo Assets	—		—		—		—		—		—		—		—		—		—
Investment In Subsidiary	—		—		—		—		12,060,920		(12,060,920	)	—		—		—		—
Other Assets	7,718		4,977		233,732		1,751,338		3,111,348		—		529,260		5,638,374		1,432,748		7,071,122
Total Assets	531,303		281,650		(4,731,738	)	30,071,515		242,670,728		(18,309,595	)	(17,037,787	)	233,476,076		9,398,311		242,874,387
Liabilities & Stockholders’ Equity
Liabilities
Accrued Interest Payable	—		—		1,510		—		2,474,901		—		—		2,476,411		—		2,476,411
Notes Payable	—		—		—		—		110,000,000		—		—		110,000,000		—		110,000,000
Subordinated Notes Payable	—		—		67,738		—		122,845,473		—		—		122,913,211		—		122,913,211
Accounts Payable	59,727		9,007		103,518		1,838,520		165,486		—		155,723		2,331,980		7,904		2,339,884
Employee Savings	—		—		—		—		1,060,128		—		—		1,060,128		—		1,060,128
Income Taxes Payable	17,275		23,343		3,090		1,021,349		(4,483,140	)	—		(3,496,515	)	(6,914,597	)	—		(6,914,597	)
Other Liabilities	53,245		131,135		(501	)	2,998,721		404,568		—		480,499		4,067,667		1,040,409		5,108,076
Total Liabilities	130,247		163,485		175,355		5,858,590		232,467,416		—		(2,860,294	)	235,934,799		1,048,313		236,983,112
Stockholders’ Equity
Preferred Stock	—		—		408,332		—		8,804		(408,332	)	—		8,804		—		8,804
Common Stock	25,000		—		400		(2,374,859	)	68,671		2,349,459		—		68,670		—		68,670
Additional Paid in Capital	751,000		—		800,000		1,768,685		8,835,246		(3,319,685	)	—		8,835,246		—		8,835,246
Dividends	—		—		(1,100	)	(1,078,197	)	(443,873	)	1,079,297		—		(443,873	)	—		(443,873	)
Retained Earnings	(403,733	)	79,261		(6,190,240	)	24,195,048		2,280,943		(18,010,334	)	(7,252,037	)	(5,301,092	)	7,252,037		1,950,945
Equity in Subsidiary	—		—		—		—		—		—		—		—		—		—
Current Year Income (Loss)	28,789		38,904		75,515		1,702,249		(546,480	)	—		(6,925,457	)	(5,626,479	)	1,097,961		(4,528,518	)
Total Stockholders’ Equity	401,056		118,165		(4,907,093	)	24,212,925		10,203,312		(18,309,595	)	(14,177,493	)	(2,458,723	)	8,349,998		5,891,275
Total Liabilities & Stockholders’ Equity	531,303		281,650		(4,731,738	)	30,071,515		242,670,728		(18,309,595	)	(17,037,787	)	233,476,076		9,398,311		242,874,387

In re:	Case No.	03-13182 - 03-13213
THE THAXTON GROUP	Jointly Administered
	Reporting Period	May 31, 2005

STATUS OF POSTPETITION TAXES

The beginning tax liability should be the ending liability from the prior month or, if this is the first report, the amount should be zero. Attach photocopies of IRS Form 6123 or payment receipt to verify payment or deposit of federal payroll taxes. Attach photocopies of any tax returns filed during the reportin period.

	Beginning Tax Liability		Amount Withheld or Accrued		Amount Paid		Date Paid		Check No. or EFT	Ending Tax Liability
Federal*
Withholding		0	$	140,580.62	$	140,580.62		Bi-Weekly	EFT		0
FICA-Employee		0	$	88,116.33	$	88,116.33		Bi-Weekly	EFT		0
FICA-Employer		0	$	128,023.98	$	128,023.98		Bi-Weekly	EFT		0
Unemployment		0	$	1,896.83	$	1,896.83		Bi-Weekly	EFT		0
Income		0
Other:		0
Corp Taxes
Total Federal Taxes	$	0.00	$	358,617.76	$	358,617.76	$	0.00		$	0.00
State and Local
Withholding		0	$	42,069.65	$	42,069.65		Bi-Weekly			0
Sales		0	$	—				None
Excise		0						N/A
Unemployment		0	$	—	$	—		Bi-Weekly			0
Real Property		0	$	820.17	$	820.17
Personal Property				2,291.29	$	2,291.29
Other:		0		13,255.55	$	13,255.55					0
Total State and Local Taxes	$	0.00	$	58,436.66	$	58,436.66	$	0.00		$	0.00
TOTAL TAXES			$	417,054.42	$	417,054.42				$	0.00

All payroll taxes debited from payroll account by ADP and remitted by ADP

SUMMARY OF UNPAID POSTPETITION DEBTS

Attach Aged listing of Accounts Payable

	Number of Days Past Due
	Current		0-30		31-60		61-90		over 90		Total
Accounts Payable		0		0								0
Wages Payable - Accrued		0		0								0
Taxes Payable - Accrued		0		0								0
Rent/Leases - Building		0										0
Secured Debt/Adequate Protection Payments		0										0
Professional Fees		escrowed										0
Amounts Due to Insiders*		0										0
Other:		0										0
Other:		0										0
Other:		0										0
Total Postpetition Debts	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00

Explain how and when the Debtor intends to pay any past-due postpetition debts.

*  “Insider is defined in 11 U.S.C Section 101(31). Form Mor-4

THE THAXTON GROUP
Cash Disbursements for Consolidated Payroll Account - THE THAXTON GROUP
Wachovia 2000014825402
Monthly Court Report for	May-05

	Consolidated Totals		TICO-AL	TICO-GA	TICO-DE	TICO-MS	TICO-NC	TICO-OH	MODERN REC	TICO-SC	TICO-TN	TICO-HQ	TICO PREMIUM	COMMERCIAL LENDING	THAXTON INSURANCE	CORPORATE
Beginning Cash Position	(44.64	)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	(44.64	)
	0.00
	0.00
	0.00
	0.00
SUBTOTAL	0.00		0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	0.00
GENERAL LEDGER DEPOSITS AND TRANSFERS	88,316.02		0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	30,509.79	0.00	0.00	0.00	57,806.23
Outstanding Checks - Adjustment	0.00
	0.00
	0.00
	0.00
	0.00
Total Cash Receipts and Transfers	88,316.02		0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	30,509.79	0.00	0.00	0.00	57,806.23
Cash Disbursements
Advertising	0.00
Bank Charges	0.00									0.00	0.00	0.00	0.00	0.00		0.00
Claims Funding*	0.00									0.00	0.00	0.00	0.00	0.00		0.00
Company Auto	0.00									0.00	0.00	0.00	0.00	0.00		0.00
Computer Costs	0.00
Dues And Subscriptions	0.00
Employee Reimbursements - collections exp	0.00									0.00	0.00	0.00	0.00	0.00		0.00
Equipment Rental	0.00									0.00	0.00	0.00	0.00	0.00		0.00
Fixed Assets	0.00									0.00	0.00	0.00	0.00	0.00		0.00
Forms & Printing	0.00									0.00	0.00	0.00	0.00	0.00	0.00	0.00
Insurance	0.00
Meals & Entertainment	0.00									0.00	0.00	0.00	0.00	0.00	0.00	0.00
Miscellaneous	0.00									0.00	0.00	0.00	0.00	0.00		0.00
Office Expense	0.00
Postage	0.00
Prepaid Expenses	0.00									0.00	0.00	0.00	0.00	0.00		0.00
Prepaid Software ABS	0.00									0.00	0.00	0.00	0.00	0.00	0.00	0.00
Professional Fees-Ordinary Course	0.00
Rent	0.00
Repairs & Maintenance	0.00									0.00	0.00	0.00	0.00	0.00		0.00
Roadgard	0.00									0.00	0.00	0.00	0.00	0.00		0.00
Seminars & Meetings	0.00									0.00	0.00	0.00	0.00	0.00		0.00
Taxes & Licenses	0.00									0.00	0.00	0.00	0.00	0.00		0.00
Telephone	0.00
Temporary Agency Staff	0.00
Travel	0.00
Utilities	0.00
Interest to Finova	0.00
Payroll Paid TTG	91,958.96		0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	30,509.79	0.00	0.00	0.00	61,449.17
Employee Witholding of Insurance/etc	(3,642.94	)														(3,642.94	)
Restructuring Officer	0.00
Insurance Renewal	0.00
Voyager Payment	0.00
Pre-Filing Prepays	0.00
Deposit to Lender	0.00
US Trustee	0.00
Bankruptcy Professionals	0.00
Other	0.00
	0.00
	0.00
	0.00
	0.00
	0.00
	88,316.02		0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	30,509.79	0.00	0.00	0.00	57,806.23
	(44.64	)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	(44.64	)

THE THAXTON GROUP
Cash Disbursements for Consolidated Payroll Account - THE THAXTON GROUP Wachovia 2000014825402	Case No.         01-10571
Monthly Court Report for

	Operating	Payroll		Other	Total
Beginning Cash Position	0.00	(44.64	)	0.00	(44.64	)
	0.00	0.00		0.00	0.00
	0.00	0.00		0.00	0.00
	0.00	0.00		0.00	0.00
	0.00	0.00		0.00	0.00
SUBTOTAL	0.00	0.00		0.00	0.00
	0.00	0.00		0.00	0.00
	0.00	0.00		0.00	0.00
GENERAL LEDGER DEPOSITS AND TRANSFERS	0.00	88,316.02		0.00	88,316.02
Outstanding Checks - Adjustment	0.00	0.00		0.00	0.00
	0.00	0.00		0.00	0.00
	0.00	0.00		0.00	0.00
	0.00	0.00		0.00	0.00
	0.00	0.00		0.00	0.00
	0.00	0.00		0.00	0.00
Total Cash Receipts and Transfers	0.00	88,316.02		0.00	88,316.02
Cash Disbursements
Advertising	0.00	0.00		0.00	0.00
Bank Charges	0.00				0.00
Claims Funding*	0.00				0.00
Company Auto	0.00				0.00
Computer Costs
Dues And Subscriptions
Employee Reimbursements - collections exp	0.00				0.00
Equipment Rental	0.00				0.00
Fixed Assets	0.00				0.00
Forms & Printing	0.00				0.00
Insurance	0.00				0.00
Meals & Entertainment	0.00				0.00
Miscellaneous	0.00				0.00
Office Expense	0.00				0.00
Postage	0.00				0.00
Prepaid Expenses	0.00				0.00
Prepaid Software ABS	0.00				0.00
Professional Fees-Ordinary Course	0.00				0.00
Rent	0.00				0.00
Repairs & Maintenance	0.00				0.00
Roadgard	0.00				0.00
Seminars & Meetings	0.00				0.00
Taxes & Licenses	0.00				0.00
Telephone	0.00				0.00
Temporary Agency Staff	0.00	0.00			0.00
Travel	0.00	0.00			0.00
Utilities	0.00	0.00			0.00
Interest to Finova	0.00				0.00
Payroll Paid TTG	0.00	91,958.96			91,958.96
Employee Witholding of Insurance/etc	0.00	(3,642.94	)		(3,642.94	)
Restructuring Officer	0.00				0.00
Insurance Renewal	0.00				0.00
Voyager Payment	0.00				0.00
Pre-Filing Prepays	0.00				0.00
Deposit to Lender	0.00				0.00
US Trustee	0.00				0.00
Bankruptcy Professionals	0.00				0.00
Other	0.00				0.00
	0.00				0.00
	0.00				0.00
	0.00				0.00
	0.00	0.00			0.00
	0.00				0.00
	0.00	88,316.02		0.00	88,316.02
	0.00	(44.64	)	0.00	(44.64	)

PAYROLL - THE THAXTON GROUP

	Period Ending 5/13/2005			Period Ending 5/27/2005			Period Ending		Total
Corporate
Salary expense	$	15,147.07		$	15,147.07		$	—	$	30,294.14
FICA/FUTA/SUTA	$	1,145.03		$	3,172.52		$	—	$	4,317.55
401(k) match	$	168.74		$	168.74		$	—	$	337.48
Overtime	$	—		$	—				$	—
Bonus	$	—		$	26,500.00				$	26,500.00
Total	$	16,460.84		$	44,988.33		$	—	$	61,449.17
Tico Premium
Salary expense	$	—		$	—		$	—	$	—
FICA/FUTA/SUTA	$	—		$	—		$	—	$	—
401(k) match	$	—		$	—		$	—	$	—
Total	$	—		$	—		$	—	$	—
									$	—
Commercial Lending
Salary expense	$	—		$	—		$	—	$	—
FICA/FUTA/SUTA	$	—		$	—		$	—	$	—
401(k) match	$	—		$	—		$	—	$	—
Commissions	$	—		$	—				$	—
Total	$	—		$	—		$	—	$	—
Thaxton Insurance Group
Salary expense	$	—		$	—				$	—
FICA/FUTA/SUTA	$	—		$	—				$	—
401(k) match	$	—		$	—				$	—
Overtime	$	—		$	—				$	—
Commissions	$	—		$	—				$	—
Bonus	$	—		$	—				$	—
Total	$	—		$	—		$	—	$	—
Tico
Salary expense	$	5,547.08		$	5,547.08		$	—	$	11,094.16
FICA/FUTA/SUTA	$	408.82		$	1,709.33		$	—	$	2,118.15
401(k) match	$	148.74		$	148.74		$	—	$	297.48
Overtime	$	—		$	—		$	—	$	—
Commissions	$	—		$	—		$	—	$	—
Bonus	$	—		$	17,000.00		$	—	$	17,000.00
Total	$	6,104.64		$	24,405.15		$	—	$	30,509.79
Period Total	$	22,565.48		$	69,393.48		$	—	$	91,958.96
401(k) payable	$	(1,315.15	)	$	(1,315.15	)	$	—	$	(2,630.30	)
Payable to reimbursement	$	—		$	—		$	—	$	—
Dental insurance	$	(25.86	)	$	(25.86	)	$	—	$	(51.72	)
Cancer insurance	$	(26.92	)	$	(26.92	)	$	—	$	(53.84	)
Life insurance	$	(26.33	)	$	(26.33	)	$	—	$	(52.66	)
Contingent health liability	$	(427.21	)	$	(427.21	)	$	—	$	(854.42	)
Tax/stale date adj	$	—		$	—				$	—
Tax levy									$	—
Advance				$	—
Unidentified	$	—
KERP	$	—		$	—
Company car	$	—		$	—		$	—
	$	20,744.01		$	67,572.01		$	—	$	88,316.02
	$	(1,821.47	)	$	(1,821.47	)	$	—	$	(3,642.94	)
									$	—
									$	—
Net Checks	$	—		$	—		$	—	$	—
Direct Deposits	$	13,917.58		$	14,137.99		$	—	$	28,055.57
Wage Garnishments	$	—		$	—		$	—	$	—
Federal Tax	$	2,614.94		$	11,716.91		$	—	$	14,331.85
EE SS Tax	$	1,259.36		$	3,956.51		$	—	$	5,215.87
ER SS Tax	$	1,259.33		$	3,956.53		$	—	$	5,215.86
EE Med Tax	$	294.52		$	925.32		$	—	$	1,219.84
ER Med Tax	$	294.52		$	925.32		$	—	$	1,219.84
State/local Tax	$	1,103.76		$	3,865.62		$	—	$	4,969.38
Futa	$	—		$	—				$	—
Suta	$	—		$	—				$	—
Adjustments	$	—		$	28,087.81		$	—	$	28,087.81
GRAND TOTAL	$	20,744.01		$	67,572.01		$	—	$	88,316.02
									$	—
reconciliation	$	—		$	—		$	—	$	—
Accrual	$	1,821.47		$	1,821.47		$	—	$	3,642.94

PAYROLL - TICO

	Period Ending 5/13/2005		Period Ending 5/27/2005		Period Ending		Total
SC/VA
Salary expense	$	—	$	—			$	—
FICA/FUTA/SUTA	$	—	$	—			$	—
401(k) match	$	—	$	—			$	—
Overtime	$	—	$	—			$	—
Commissions	$	—	$	—			$	—
Bonus	$	—	$	—			$	—
Total	$	—	$	—	$	—	$	—
AL
Salary expense	$	—	$	—			$	—
FICA/FUTA/SUTA	$	—	$	—			$	—
401(k) match	$	—	$	—			$	—
Overtime	$	—	$	—			$	—
Commissions	$	—	$	—			$	—
Bonus	$	—	$	—			$	—
Total	$	—	$	—	$	—	$	—
NC
Salary expense	$	—	$	—			$	—
FICA/FUTA/SUTA	$	—	$	—			$	—
401(k) match	$	—	$	—			$	—
Overtime	$	—	$	—			$	—
Commissions	$	—	$	—			$	—
Bonus	$	—	$	—			$	—
Total	$	—	$	—	$	—	$	—
GA
Salary expense	$	—	$	—			$	—
FICA/FUTA/SUTA	$	—	$	—			$	—
401(k) match	$	—	$	—			$	—
Overtime	$	—	$	—			$	—
Commissions	$	—	$	—			$	—
Bonus	$	—	$	—			$	—
Total	$	—	$	—	$	—	$	—
OH
Salary expense	$	—	$	—			$	—
FICA/FUTA/SUTA	$	—	$	—			$	—
401(k) match	$	—	$	—			$	—
Overtime	$	—	$	—			$	—
Commissions	$	—	$	—			$	—
Bonus	$	—	$	—			$	—
Total	$	—	$	—	$	—	$	—
KY
Salary expense	$	—	$	—			$	—
FICA/FUTA/SUTA	$	—	$	—			$	—
401(k) match	$	—	$	—			$	—
Overtime	$	—	$	—			$	—
Commissions	$	—	$	—			$	—
Bonus	$	—	$	—			$	—
Total	$	—	$	—	$	—	$	—
MS
Salary expense	$	—	$	—			$	—
FICA/FUTA/SUTA	$	—	$	—			$	—
401(k) match	$	—	$	—			$	—
Overtime	$	—	$	—			$	—
Commissions	$	—	$	—			$	—
Bonus	$	—	$	—			$	—
Total	$	—	$	—	$	—	$	—
TN
Salary expense	$	—	$	—			$	—
FICA/FUTA/SUTA	$	—	$	—			$	—
401(k) match	$	—	$	—			$	—
Overtime	$	—	$	—			$	—
Commissions	$	—	$	—			$	—
Bonus	$	—	$	—			$	—
Total	$	—	$	—	$	—	$	—
Corp
Salary expense	$	5,547.08	$	5,547.08	$	—	$	11,094.16
FICA/FUTA/SUTA	$	408.82	$	1,709.33	$	—	$	2,118.15
401(k) match	$	148.74	$	148.74	$	—	$	297.48
Overtime	$	—	$	—			$	—
Commissions	$	—	$	—			$	—
Bonus	$	—	$	17,000.00	$	—	$	17,000.00
Total	$	6,104.64	$	24,405.15	$	—	$	30,509.79
Modern
Salary expense	$	—	$	—	$	—	$	—
FICA/FUTA/SUTA	$	—	$	—	$	—	$	—
401(k) match	$	—	$	—	$	—	$	—
Overtime	$	—	$	—			$	—
Commissions	$	—	$	—			$	—
Bonus	$	—	$	—
Total	$	—	$	—	$	—	$	—
Period Total	$	6,104.64	$	24,405.15	$	—	$	30,509.79

THE THAXTON GROUP		Wachovia	#	2000014825703
Cash Disbursements for THAXTON INVESTMENT PAYROLL				2079900431038
Wachovia	May-05			540439122
Monthly Court Report for				2079900431041

	Consolidated Totals		Covington Credit-OK		Covington Credit of Texas		Southern Finance of South Carolina		Covington Credit of Georgia		Quick Credit		Southern Finance of Tennesse		CORPORATE HQ
Beginning Cash Position	(140,924.88	)	—		—		—		—		—				(140,924.88	)
	—
	—
GENERAL LEDGER DEPOSITS AND TRANSFERS	1,462,722.10		39,746.74		420,681.26		341,775.56		182,836.32		158,360.20		114,540.54		204,781.48
Outstanding Checks	—										—
	—
Total Cash Receipts and Transfers	1,462,722.10		39,746.74		420,681.26		341,775.56		182,836.32		158,360.20		114,540.54		204,781.48
Cash Disbursements - Loans
Gross Wages	1,204,879.77		34,870.99		317,330.53		292,386.59		155,959.30		136,788.50		98,225.51		169,318.35
Federal Tax	126,248.77		2,969.19		33,493.70		35,909.34		15,758.59		11,913.65		12,023.02		14,181.28
SS Tax	82,900.46		2,525.82		22,930.68		20,297.57		10,904.86		9,742.25		7,241.66		9,257.62
Med Tax	20,130.33		590.72		5,475.00		5,090.88		2,550.36		2,363.26		1,693.61		2,366.50
EIC	(282.19	)	—		—		(282.19	)	—		—		—		—
State Tax	37,100.27		1,292.00		92.84		14,877.63		6,702.22		5,545.48		112.73		8,477.37
Advance	(1,333.74	)	—		275.00		(600.00	)	(100.00	)	216.26		(1,125.00	)	—
Mileage	(36,152.31	)	(1,320.48	)	(11,857.06	)	(9,446.86	)	(4,865.28	)	(5,043.08	)	(3,619.55	)	—
Miscellaneous	(2,614.57	)	—		—		—		—		—		—		(2,614.57	)
Shortage	50.00		—		—		—		—		—		50.00		—
STD	2,047.96		74.79		695.27		452.36		224.37		248.45		193.90		158.82
Medical	26,539.03		724.78		7,184.21		5,668.04		2,526.52		3,005.88		2,784.34		4,645.26
401K Loans	5,476.72		—		3,282.24		934.62		389.28		—		—		870.58
401K Deducts	18,507.23		567.82		4,502.18		4,728.97		1,682.91		286.40		405.49		6,333.46
AHL Dental	5,658.40		149.02		1,487.66		1,465.22		707.02		790.80		604.20		454.48
AHL Cancer	1,407.46		48.84		450.56		348.50		195.50		162.72		29.50		171.84
AHL Life	3,179.04		156.62		933.68		727.95		387.86		469.41		291.42		212.10
Flex Med	1,974.60		—		230.76		535.36		—		—		235.28		973.20
Dep Care	317.24		—		269.24		48.00		—		—		—		—
Stop Payment Fee	—		—		—		—		—		—		—		—
Garnishment fee	111.00		4.00		36.00		33.00		14.00		6.00		14.00		4.00
Garnishment	761.89		—		355.29		228.16		—		—		178.44		—
Bankrpc	440.00		—		—		—		440.00		—		—		—
Child support	10,586.73		428.68		3,527.60		2,010.74		1,541.66		241.02		1,726.83		1,110.20
Tax Levy	847.00		—		—		807.00		40.00		—		—		—
Fringe	—		—		—		—		—		—		—		—
STD Net	—		—		—		—		—		—		—		—
SS Tax Adjust	—		—		—		—		—		—		—		—
Other	—		—		—		—		—		—		—		—
	303,901.32		8,211.80		73,364.85		83,834.29		39,099.87		29,948.50		22,839.87		46,602.14
Gross To Net (includes adj.)	—		—		—		—		—		—		—		—
Prepays and voids	—		—		—		—		—		—		—		—
DD Reversals & adjs.	—		—		—		—		—		—		—		—
Net DD/live checks	—		—		—		—		—		—		—		—
	—		—		—		—		—		—		—		—
FUNDING REQUIREMENTS			—		—		—		—		—		—		—
Net Checks	—		—		—		—		—		—		—		—
Direct Deposits	—		—		—		—		—		—		—		—
Wage Garnishments	12,635.62		428.68		3,882.89		3,045.90		2,021.66		241.02		1,905.27		1,110.20
Federal Tax	126,248.77		2,969.19		33,493.70		35,909.34		15,758.59		11,913.65		12,023.02		14,181.28
EE SS Tax	82,900.46		2,525.82		22,930.68		20,297.57		10,904.86		9,742.25		7,241.66		9,257.62
ER SS Tax	82,900.58		2,525.79		22,930.65		20,297.75		10,904.92		9,742.21		7,241.64		9,257.62
EE Med Tax	20,130.33		590.72		5,475.00		5,090.88		2,550.36		2,363.26		1,693.61		2,366.50
ER Med Tax	20,130.21		590.71		5,474.93		5,090.94		2,550.34		2,363.21		1,693.61		2,366.47
State Tax	37,100.27		1,292.00		92.84		14,877.63		6,702.22		5,545.48		112.73		8,477.37
Futa	1,896.83		109.17		633.98		(358.44	)	319.96		1,021.33		98.70		72.13
Suta	11,392.28		315.96		5,166.37		(1,928.31	)	2,606.64		4,463.40		382.50		385.72
	—		—		—		—		—		—		—		—
Total Amt Debited from our Acct			—		—		—		—		—		—		—
Cash BY ENTITY	1,380,166.15		39,746.74		420,681.26		341,775.56		182,836.32		158,360.20		114,540.54		122,225.53
Manual Checks	—
Total Other Cash Disbursements	1,380,166.15		39,746.74		420,681.26		341,775.56		182,836.32		158,360.20		114,540.54		122,225.53
TOTAL ALL CASH DISBURSEMENTS	1,380,166.15		39,746.74		420,681.26		341,775.56		182,836.32		158,360.20		114,540.54		122,225.53
	(58,368.93	)	—		—		—		—		—		—		(58,368.93	)
Book Balance per bank rec.	(58,368.93	)			—				—		—				(58,368.93	)
Ending Bank Balance per bank rec.

THE THAXTON GROUP
Cash Disbursements for THAXTON INVESTMENT PAYROLL	Case No.
Wachovia
Monthly Court Report for

	Operating	Payroll		Other	Total
Beginning Cash Position	—	(140,924.88	)	—	(140,924.88	)
	—	—		—	—
	—	—		—	—
GENERAL LEDGER DEPOSITS AND TRANSFERS	—	1,462,722.10		—	1,462,722.10
Outstanding Checks	—	—		—	—
	—	—		—	—
Total Cash Receipts and Transfers	—	1,462,722.10		—	1,462,722.10		—
	—	—
Cash Disbursements - Loans	—	—
	—	—
Gross Wages	—	1,204,879.77
Federal Tax	—	126,248.77
SS Tax	—	82,900.46		—	82,900.46
Med Tax	—	20,130.33
EIC	—	(282.19	)	—	(282.19	)
State Tax	—	37,100.27		—	37,100.27
Advance	—	(1,333.74	)	—	(1,333.74	)
Mileage	—	(36,152.31	)	—	(36,152.31	)
Miscellaneous	—	(2,614.57	)	—	(2,614.57	)
Shortage	—	50.00		—	50.00
STD	—	2,047.96		—	2,047.96
Medical	—	26,539.03		g—	26,539.03
401K Loans	—	5,476.72		—	5,476.72
401K Deducts	—	18,507.23		—	18,507.23
AHL Dental	—	5,658.40		—	5,658.40
AHL Cancer	—	1,407.46		—	1,407.46
AHL Life	—	3,179.04		—	3,179.04
Flex Med	—	1,974.60		—	1,974.60
Dep Care	—	317.24		—	317.24
Stop Payment Fee	—	—		—	—
Garnishment fee	—	111.00		—	111.00
Garnishment	—	761.89		—	761.89
Bankrpc	—	440.00		—	440.00
Child support	—	10,586.73		—	10,586.73
Tax Levy	—	847.00		—	847.00
Fringe	—	—		—	—
STD Net	—	—		—	—
SS Tax Adjust	—	—		—	—
Other	—	—		—	—
	—	303,901.32		—	303,901.32
Gross To Net (includes adj.)	—	—		—	—
Prepays and voids	—	—		—	—
DD Reversals & adjs.	—	—		—	—
Net DD/live checks	—	—		—	—
	—	—		—	—
FUNDING REQUIREMENTS	—	—		—	—
Net Checks	—	—		—	—
Direct Deposits	—	—		—	—
Wage Garnishments	—	12,635.62		—	12,635.62
Federal Tax	—	126,248.77			126,248.77
EE SS Tax	—	82,900.46			82,900.46
ER SS Tax	—	82,900.58			82,900.58
EE Med Tax	—	20,130.33			20,130.33
ER Med Tax	—	20,130.21			20,130.21
State Tax	—	37,100.27			37,100.27
Futa	—	1,896.83			1,896.83
Suta	—	11,392.28			11,392.28
	—	—			—
Total Amt Debited from our Acct	—	—			—
Cash BY ENTITY	—	1,380,166.15			1,380,166.15
Manual Checks	—	—			—
Total Other Cash Disbursements	—	1,380,166.15		—	1,380,166.15
TOTAL ALL CASH DISBURSEMENTS	—	1,380,166.15		—	1,380,166.15
	—	(58,368.93	)	—	(58,368.93	)
Book Balance per bank rec.
Ending Bank Balance per bank rec.

In re:	Case No.	03-13182 - 03-13213
THE THAXTON GROUP	Jointly Administered
	Reporting Period	May-05

ACCOUNTS RECEIVABLE RECONCILATION AND AGING

	Amount
Accounts Receivable Reconciliation
Total Accounts Receivable at the beginning of the reporting period	$	66,495,062
Plus Amounts billed during the period	$	10,828,854
Sold Receivables during month
Less Amounts collected during the period		($9,400,333	)
Total Accounts Receivable at the end of the reporting period	$	67,923,582
	Amount
Accounts Receivable Aging
0-30 days old	$	64,685,266
31-60 days old	$	1,429,710
61-90 days old	$	662,912
91+ days old	$	1,145,695
Total Accounts Receivable	$	67,923,582
Amount considered uncollectible (Bad Debt) - Reserve
Accounts Receivable (Net)	$	67,923,582

DEBTOR QUESTIONNAIRE

Must be completed each month	Yes	No
1.      Have any assets been sold or transferred outside the normal course of business this reporting period? If yes, provide an explanation below.		X
2.      Have any funds been disbursed from any account other than a debtor in possessin account this period? If yes, provide an explanation below.	X
3.      Have all postpetition tax returns been timely filed? If no, provide an explanation below.	X
4.      Are workers compensation, general liability and other necessary insurance coverages in effect? If no, provide and explanation below.	X

2. First Day Order authorizing the temporary use of existing cash management system.

Form Mor - 5

The Thaxton Group, Inc.

Schedule of Aged Accounts Receivable and Post Accounts Payable

By Operating Group

As of 05/31/2005

Aged Accounts Receivable

(Gross Balance as of 05/31/05)

	Total		Southern Management		Tico Credit		Commercial Lending		Tico Premium
Current	$	61,797,715	$	61,638,410	$	159,306	$	—	$	—
Potential (1-30)	$	2,887,550	$	2,870,761	$	16,789	$	—	$	—
31-60 Days	$	1,429,710	$	1,388,772	$	40,938	$	—	$	—
61-90 Days	$	662,912	$	652,892	$	10,020	$	—	$	—
91 and Over	$	1,145,695	$	915,174	$	230,521	$	—	$	—
Total Delinquency	$	6,125,867	$	5,827,599	$	298,268	$	—	$	—
Total Gross Receivables	$	67,923,582	$	67,466,009	$	457,574	$	—	$	—
Post Accounts Payable
(As of 05/31/05)
Southern Management	$	—
Tico Credit	$	—
Commercial Lending	$	—
Tico Premium	$	—
Thaxton Insurance	$	—
Corporate	$	—
Total	$	—

Prepared by Danny Bufford L\AR split 2003\ Weekly Loans Rec\ THE THAXTON GROUP MONTHLY OPERATING REPORT -May 2005, AR AP

THE THAXTON GROUP		CASES 03-13182 - 03-13213
INTER-COMPANY BALANCE RECONCILIATION FOR THE THAXTON GROUP - Consolidated		JOINTLY ADMINISTERED
Wachovia	May-05
Monthly Court Report for

				HOLDING COMPANY		HOLDING COMPANY							HOLDING COMPANY
	Consolidated Totals		ELIMINATIONS	THAXTON GROUP, INC Corporate		Thaxton Operating Company	Eagle	Thaxton Insurance Group		Thaxton Commercial Lending	Tico Premium		Thaxton Investment Corporation	TIC -Southern Management Corporation Consolidated		Tico Credit Corporation Consolidated
Beginning Inter-company balance as of 12/31 per G/L Trial Balance	—		6,248,675.00	76,250,958.00				(3,413,149.00	)	57,761.00	571,655.00			(34,033,534.00	)	(46,482,742.00	)
Cash Transfers between companies	—			(492,583.92	)									458,311.79		34,272.13
Expenses paid by Corporate - expensed in subsidiaries (treated as	(0.00	)		73,399.18							(3,166.70	)		(67,542.07	)	(2,690.41	)
separate cost centers as opposed to separate companies	—
	—
Allocations of:	—
	—
Home Office allocation	—
Interest allocation	0.00			118,577.22										(117,562.06	)	(1,015.16	)
Payroll	—			(32,269.46	)									32,269.46
Analysis charges	—
Audit accrual	—
Transfer of assets	—			26,619.50										(65,223.25	)	38,603.75
Sale of branches	—
Clear outstanding checks	—
Cherokee return premium	—
General Ledger as of 05/31/05	(0.00	)	6,248,675.00	75,944,700.52		—	—	(3,413,149.00	)	57,761.00	568,488.30		—	(33,793,280.13	)	(46,413,571.69	)
	(0.00	)	6,248,675.00	75,944,700.52		—	—	(3,413,149.00	)	57,761.00	568,488.30		—	(33,793,280.13	)	(46,413,571.69	)
Balance Sheet - May 31, 2005	—		6,248,675.00	75,944,700.00				(3,413,149.00	)	57,761.00	568,488.00			(33,793,280.00	)	(46,413,571.00	)