Exhibit 5

                     [Letterhead of Moore & Van Allen PLLC]

December 4, 2002

The Thaxton Group, Inc.
1524 Pageland Highway
Lancaster, South Carolina 29720

Attention: Allan F. Ross

Re:  Registration Statement on Form S-1

Gentlemen:

We refer to the above-referenced Registration Statement, as amended (the
"Registration Statement"), under the Securities Act of 1933, as amended, filed
by The Thaxton Group, Inc., a South Carolina corporation (the "Company"), with
the Securities and Exchange Commission, relating to up to $125,000,000 in
aggregate principal amount of the Company's Subordinated Term Notes Due 1, 6,
12, 36 and 60 Months and Subordinated Daily Notes (collectively, the "Notes").
The Notes will be issued under an Indenture by and between the Company and The
Bank of New York, as Trustee, the form of which is included as Exhibit 4.1 to
the Registration Statement (the "Indenture"). The Notes will be sold at a price
equal to 100% of their respective principal amounts.

We have examined the originals or photocopies or certified copies of such
records of the Company, certificates of officers of the Company and public
officials and other documents as we have deemed relevant and necessary as the
basis for the opinion hereinafter expressed. In such examination, we have
assumed the genuineness of all signatures, the authenticity of all documents as
originals, the conformity to originals of all documents submitted to us as
certified copies or photocopies and the authenticity of the originals of such
latter documents.

Based upon our examination mentioned above, and relying upon statements of fact
contained in the documents which we have examined, we are of the opinion that,
upon the adoption of Board Resolutions as contemplated by the Indenture and
delivery of the Board Resolutions to the Trustee, the Notes will be duly
authorized and will be validly issued and binding obligations of the Company,
enforceable in accordance with their terms (except as enforcement thereof may be
limited by bankruptcy, insolvency or other laws affecting the enforcements of
creditors' rights generally) when issued in accordance with the Indenture and
paid for as described in the Registration Statement.

We hereby consent to the filing of this opinion as Exhibit 5 to the Registration
Statement and to the reference to this firm under the caption "Legal Matters" in
the related Prospectus.

Very truly yours,

MOORE & VAN ALLEN PLLC

/s/ Moore & Van Allen PLLC