<ARTICLE>   5
<LEGEND>
ART. 5 FDS FOR 1ST QUARTER 10-Q
</LEGEND>
<MULTIPLIER>   1,000
       
                                               
<PERIOD-TYPE>                                           3-MOS
<FISCAL-YEAR-END>                                 APR-30-1998
<PERIOD-END>                                      JUL-31-1997
<CASH>                                                    461
<SECURITIES>                                                0
<RECEIVABLES>                                          20,411
<ALLOWANCES>                                            2,009
<INVENTORY>                                                 0
<CURRENT-ASSETS>                                            0
<PP&E>                                                     35
<DEPRECIATION>                                             20
<TOTAL-ASSETS>                                         16,029
<CURRENT-LIABILITIES>                                       0
<BONDS>                                                51,901
<COMMON>                                                  101
<PREFERRED-MANDATORY>                                       0
<PREFERRED>                                                 1
<OTHER-SE>                                            (44,545)
<TOTAL-LIABILITY-AND-EQUITY>                           16,029
<SALES>                                                 1,008
<TOTAL-REVENUES>                                        1,008
<CGS>                                                       0
<TOTAL-COSTS>                                               0
<OTHER-EXPENSES>                                        1,418
<LOSS-PROVISION>                                          315
<INTEREST-EXPENSE>                                      1,336
<INCOME-PRETAX>                                        (2,061)
<INCOME-TAX>                                                0
<INCOME-CONTINUING>                                    (2,061)
<DISCONTINUED>                                              0
<EXTRAORDINARY>                                             0
<CHANGES>                                                   0
<NET-INCOME>                                           (2,061)
<EPS-PRIMARY>                                               0
<EPS-DILUTED>                                               0