<ARTICLE>                        5
<LEGEND>
This schedule contains summary financial information extracted from EQUIVEST
FINANCE, INC. and is qualified in its entirety by reference to such financial
statements.
</LEGEND>
       
                              
<PERIOD-TYPE>                    6-MOS
<FISCAL-YEAR-END>                               DEC-31-1998
<PERIOD-START>                                  JAN-01-1998
<PERIOD-END>                                    JUN-30-1998
<CASH>                                            1,172,185
<SECURITIES>                                              0
<RECEIVABLES>                                   137,569,315
<ALLOWANCES>                                     (2,893,538)
<INVENTORY>                                               0
<CURRENT-ASSETS>                                          0
<PP&E>                                                    0
<DEPRECIATION>                                            0
<TOTAL-ASSETS>                                  142,705,333
<CURRENT-LIABILITIES>                             3,374,082
<BONDS>                                         104,114,442
<PREFERRED-MANDATORY>                                30,000
<PREFERRED>                                               0
<COMMON>                                          1,095,286
<OTHER-SE>                                       34,091,523
<TOTAL-LIABILITY-AND-EQUITY>                    142,705,333
<SALES>                                                   0
<TOTAL-REVENUES>                                 10,278,483
<CGS>                                                     0
<TOTAL-COSTS>                                             0
<OTHER-EXPENSES>                                  2,341,404
<LOSS-PROVISION>                                    450,000
<INTEREST-EXPENSE>                                3,371,830
<INCOME-PRETAX>                                   4,115,249
<INCOME-TAX>                                      1,440,000
<INCOME-CONTINUING>                               2,675,249
<DISCONTINUED>                                            0
<EXTRAORDINARY>                                           0
<CHANGES>                                                 0
<NET-INCOME>                                      2,675,249
<EPS-PRIMARY>                                           .11
<EPS-DILUTED>                                           .11