SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 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): June 23, 2006

THE THAXTON GROUP, INC.

(Exact Name of Registrant as Specified in Charter)

South Carolina

(State or Other Jurisdiction of Incorporation)


000-27086		57-0669498
(Commission File Number)		(I.R.S. Employer Identification No.)


1601 Pageland Highway, Lancaster, South Carolina		29720
(Address of Principal Executive Offices)		(Zip Code)

Registrant’s telephone number, including area code: (803) 285-4337

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

¨	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

¨	Soliciting material pursuant to Rule 14a-12 under the Securities and Exchange Act (17 CFR 240.14a-12)

¨	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

¨	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 5.01. Resignation of Director

Karen Thaxton has resigned as a director of the Company effective as of July 1, 2006. Ms. Thaxton continues to serve as the Secretary of the Company and as the Company’s head of human resources.

Item 8.01. Other Events

The Company is hereby filing its Bankruptcy Report for May 1 through May 31, 2006, which was filed with the Bankruptcy Court on June 23, 2006.

Item 9.01. Financial Statements and Exhibits

(c)

Exhibits


Exhibit No.		Description
99.1		Operating Report for the period May 1, 2006, through May 31, 2006, filed with the U.S. Bankruptcy Court for the District of Delaware on June 23, 2006.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this current report on Form 8-K to be signed on its behalf by the undersigned hereunto duly authorized.


THE THAXTON GROUP, INC.

By:		/s/ Robert R. Dunn
		Robert R. Dunn
		President and Chief Restructuring Officer

Dated: July 5, 2006

THAXTON GROUP INC 8-K