UNITED STATES
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)
May 8, 1998
ADVANCED FINANCIAL, INC.
(Exact Name of Registrant as Specified in Its Charter)
Delaware
(State of Other Jurisdiction of Incorporation)
0-19485 84-1069416
(Commission File Number) (I.R.S. Employer Identification No.)
5425 Martindale, Shawnee, Kansas 66218
(Address of Principal Executive Offices) (Zip Code)
(913) 441-2466
(Registrant's Telephone Number, Including Area code)
Not applicable
(Former name or former address, if changed since last report)
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Item 3. Bankruptcy or Receivership
On May 8, 1998, the registrant filed a voluntary petition for relief
under Chapter 11 of the United States Bankruptcy Code in the United States
Bankruptcy Court, District of Kansas, Topeka Division, Case No. 98-41228. The
registrant's petition requests that the registrant's existing directors and
officers continue in possession of the registrant's assets, subject to the
supervision and orders of the bankruptcy court.
<PAGE>
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act
of 1934, the registrant has duly caused this report as amended to
be signed on its behalf by the undersigned hereunto duly authorized.
ADVANCED FINANCIAL, INC.
(registrant)
________________________________
William B. Morris
Chairman of the Board, Senior Vice-
President and Secretary
Date: May 21, 1998
