CENTRAL FINANCIAL ACCEPTANCE CORPORATION
5480 EAST FERGUSON DRIVE
COMMERCE, CALIFORNIA 90022
February 10, 1998
VIA FACSIMILE AND EDGAR
Securities and Exchange Commission
450 Fifth Street, N.W.
Washington, DC 20549
Attention: Mr. David Sparks, Division of Corporation Finance
Mail Stop 4-8
RE: CENTRAL FINANCIAL ACCEPTANCE CORPORATION/CFAC CAPITAL I
REGISTRATION STATEMENT ON FORM S-1
(FILE NOS. 333-37213 AND 333-37213-01)
REGISTRATION STATEMENT ON FORM 8-A
(FILE NOS. 000-23197 AND 000-23197-01)
Dear Mr. Sparks:
Pursuant to Rule 477(a) promulgated under the Securities Act
of 1933, as amended, Central Financial Acceptance Corporation and CFAC Capital
I (collectively, the "Co-Registrants") hereby apply for an order granting the
immediate withdrawal of each of the above-referenced Registration Statements,
together with all exhibits and amendments thereto. The Co-Registrants have
determined not to proceed with the proposed offering described in their
Registration Statement on Form S-1 (File Nos. 333-37213 and 333-37213-01) at
this time due to volatile and adverse market conditions, and none of the trust
preferred securities described therein were issued or sold.
If you have any questions regarding the foregoing withdrawal
application, please call William T. Quicksilver or Albert Y. Park at Manatt,
Phelps & Phillips, LLP, legal counsel to the Co-Registrants, at (310) 312-
4000.
Very truly yours,
CENTRAL FINANCIAL ACCEPTANCE CORPORATION
By: /s/ Gary M. Cypres
-------------------------------------
Gary M. Cypres
Chairman, Chief Executive Officer,
President and Chief Financial Officer
CFAC CAPITAL I
By: /s/ Gary M. Cypres
----------------------
Gary M. Cypres
Administrative Trustee
