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Proc-Type: 2001,MIC-CLEAR
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<SEC-DOCUMENT>0001000045-02-000002.txt : 20020528
<SEC-HEADER>0001000045-02-000002.hdr.sgml : 20020527
<ACCEPTANCE-DATETIME>20020528085244
ACCESSION NUMBER:		0001000045-02-000002
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20020528
ITEM INFORMATION:		Resignations of registrant's directors
FILED AS OF DATE:		20020528

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			NICHOLAS FINANCIAL INC
		CENTRAL INDEX KEY:			0001000045
		STANDARD INDUSTRIAL CLASSIFICATION:	SHORT-TERM BUSINESS CREDIT INSTITUTIONS [6153]
		IRS NUMBER:				593019317
		STATE OF INCORPORATION:			FL
		FISCAL YEAR END:			0331

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-26680
		FILM NUMBER:		02663029

	BUSINESS ADDRESS:	
		STREET 1:		2454 MCMILLEN BOOTH RD
		STREET 2:		BLDG C 501 B
		CITY:			CLEARWATER
		STATE:			FL
		ZIP:			33759
		BUSINESS PHONE:		8137260763

	MAIL ADDRESS:	
		STREET 1:		2454 MCMULLEN BOOTH RD
		STREET 2:		BLDG C SUITE 501B
		CITY:			CLEARWATER
		STATE:			FL
		ZIP:			33759
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>r8k-0502.txt
<DESCRIPTION>8K 05/28/02
<TEXT>


         UNITED STATES SECURITIES AND EXCHANGE COMMISSION
                       Washington, DC  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) May 28, 2002



                     NICHOLAS FINANCIAL, INC.
      (Exact name of registrant as specified in its Charter)




   British Columbia, Canada          333-08407    8736-3354
  (State or Other Jurisdiction of   (Commission  (I.R.S. Employer
   Incorporation or Organization)    File Number) Identification No.)

     2454 McMullen Booth Road, Building C
           Clearwater, Florida                      33759
   (Address of Principal Executive Offices)       (Zip Code)



                          (813) 726-0763
       (Registrant's telephone number, Including area code)


                          Not applicable
  (Former name, former address and former fiscal year, if changed
                       since last report)


<PAGE> 1


Item 6.   Other Events

     On May 20, 2002 Nicholas Financial, Inc. (the "Company") was
notified in writing that Melvin S. Cutler has retired from the
Board and will not stand for re-election this August at the
Company's Annual meeting. The Board of Directors will not fill
this casual vacancy until it nominates an individual whose name
will be included in the Company's 2002 Proxy Statement under
"Proposal 1 - Election of Directors.


<PAGE> 2


                           SIGNATURES

   Pursuant to the requirements of the Securities Exchange Act of
1934, the Registrant has duly caused this Report to be signed  on
its behalf by the undersigned, hereunto duly authorized.


                    NICHOLAS FINANCIAL, INC.
                          (Registrant)


  Date: May 28, 2002            /s/ Peter L. Vosotas
                                --------------------------
                                Peter L. Vosotas
                                Chairman, President, Chief
                                Executive Officer
                                (Principal Executive
                                 Officer)


  Date: May 28, 2002           /s/ Ralph T. Finkenbrink
                               -----------------------------
                               Ralph T. Finkenbrink
                               (Principal Financial Officer
                                and Accounting Officer)




</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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