<ARTICLE>   5
<LEGEND>
ART. 5 FDS FOR 2ND QUARTER 10-Q
</LEGEND>
<MULTIPLIER>   1,000
       
                                        
<PERIOD-TYPE>                                    6-MOS
<FISCAL-YEAR-END>                          APR-30-1997
<PERIOD-END>                               OCT-31-1996
<CASH>                                           6,277
<SECURITIES>                                         0
<RECEIVABLES>                                   19,593
<ALLOWANCES>                                     2,005
<INVENTORY>                                          0
<CURRENT-ASSETS>                                     0
<PP&E>                                              42
<DEPRECIATION>                                      18
<TOTAL-ASSETS>                                  22,290
<CURRENT-LIABILITIES>                                0
<BONDS>                                         53,084
<COMMON>                                           102
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                          1
<OTHER-SE>                                     (39,439)
<TOTAL-LIABILITY-AND-EQUITY>                    22,290
<SALES>                                          1,852
<TOTAL-REVENUES>                                 1,852
<CGS>                                                0
<TOTAL-COSTS>                                        0
<OTHER-EXPENSES>                                 1,757
<LOSS-PROVISION>                                   606
<INTEREST-EXPENSE>                               2,611
<INCOME-PRETAX>                                 (3,122)
<INCOME-TAX>                                         0
<INCOME-CONTINUING>                             (3,122)
<DISCONTINUED>                                       0
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                    (3,122)
<EPS-PRIMARY>                                        0
<EPS-DILUTED>                                        0