SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. ___)*
Union Acceptance Corporation
(Name of Issuer)
Class A Common Stock
(Title of Class of Securities)
904832102
(CUSIP Number)
Susan Lee Hanzel, 4612 Craftsbury Circle, Fort Wayne,
Indiana 46818
(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
November 7, 1997
(Date of Event which Requires Filing of this
Statement)
If the filing person has previously filed a statement
on Schedule 13G to report the acquisition which is
the subject of this Schedule 13D, and is filing this
schedule because of Rule 13d-1(b)(3) or (4), check
the following box ?.
Check the following box if a fee is being paid with
the statement ?. (A fee is not required only if the
reporting person: (i) has a previous statement on
file reporting beneficial ownership of more than five
percent of the class of securities described in Item
1; and (2) has filed no amendment subsequent thereto
reporting beneficial ownership of five percent or
less of such class.) (See Rule 13d-7.)
Note: Six copies of this statement, including all
exhibits, should be filed with the Commission. See
Rule 13d-1(a) for other parties to whom copies are to
sent.
*The remainder of this cover page shall be filled out
for a reporting person's initial filing on this form
with respect to the subject class of securities, and
for any subsequent amendment containing information
which would alter disclosures provided in a prior
cover page.
The information required on the remainder of this
cover page shall be deemed to be "filed" for the
purpose of Section 18 of the Securities Exchange Act
of 1934 ("Act") or otherwise subject to the
liabilities of that section of the Act but shall be
subject to all other provisions of the Act (however,
see the Notes).
CUSIP No. 904832102
1. Name of Reporting Person
Susan Lee Hanzel
2. Check the Appropriate Box if a Member of a
Group
(a) [ ]
(b) [ ]
3. SEC Use Only
4. Source of Funds
00
5. Check if Disclosure of Legal Proceedings is
Required Pursuant to Items 2(d) or 2(e) [ ]
6. Citizenship or Place of Organization
United States of America
Number of Shares Beneficially Owned by Each Reporting
Person With
7. Sole Voting Power 346,857
8. Shared Voting Power 0
9. Sole Dispositive Power 346,857
10. Shared Dispositive Power 0
11. Aggregate Amount Beneficially Owned by
Reporting Person
346,857
12. Check if the Aggregate Amount in Row (11)
Excludes Certain Shares [ ]
13. Percent of Class Represented by Amount in
Row (11)
8.6%
14. Type of Reporting Person
IN
Item 1. Security and Issuer
The title of the class of equity securities to which
this statement relates is the Class A common stock
("Securities") of Union Acceptance Corporation
("Issuer"). The address of the principal executive
offices of the Issuer is 250 North Shadeland Avenue,
Indianapolis, Indiana 46219.
Item 2. Identity and Background
(a) The name of the person filing this statement is
Susan Lee Hanzel.
(b) The residence address of Susan Lee Hanzel is 4612
Craftsbury Circle, Fort Wayne, Indiana 46818.
(c) The principal occupation of Susan Lee Hanzel is
an instructor. The name, principal business and
address of Susan Lee Hanzel's employer is Edgerton
Travel, travel agency and 9111 Lima Road, Fort Wayne,
Indiana 46818, respectively.
(d) Susan Lee Hanzel has not, during the last five
years, been convicted in a criminal proceeding
(excluding traffic violations or similar
misdemeanors).
(e) Susan Lee Hanzel has not, during the last five
years, been a party to a civil proceeding of a
judicial or administrative body of competent
jurisdiction and as a result of such proceeding was
or is not subject to a judgment, decree or final
order enjoining future violations of, or prohibiting
or mandating activities subject to, federal or state
securities laws or finding any violation with respect
to such laws.
(f) Susan Lee Hanzel is a citizen of the United
States of America.
Item 3. Source and Amount of Funds or Other
Consideration
The Securities were acquired other than by purchase
and pursuant to a Decree of Dissolution of Marriage
and no funds were utilized.
Item 4. Purpose of Transaction
Pursuant to the Decree of Dissolution of Marriage
entered on November 7, 1997, Susan Lee Hanzel became
the owner of the 346,857 Securities reported herein.
At the present time Susan Lee Hanzel is uncertain as
to her intentions with respect to the Securities
reported by her. Susan Lee Hanzel presently has no
plans or proposals of the type enumerated in sections
(a) through (j) inclusive, of Item 4 of Schedule 13D.
However, Susan Lee Hanzel reserves the right to
purchase or sell Securities of the Issuer at any time
or from time to time. At the present time Susan Lee
Hanzel is uncertain as to the timing, or extent of
any purchases or sales of Issuer's Securities.
Further, Susan Lee Hanzel may reconsider her present
position and intentions based on numerous factors,
including but not limited to, business prospects of
the Issuer, other developments concerning the Issuer,
other business opportunities available to Susan Lee
Hanzel, developments with respect to Susan Lee
Hanzel, or the Issuer , general economic conditions,
economic conditions in the region in which Susan Lee
Hanzel resides, and the monetary and Securities
market conditions. Of particular interest to Susan
Lee Hanzel is the Dissolution of Marriage pursuant to
which Susan Lee Hanzel acquired the Securities of
Issuer reported herein and the effect that
Dissolution may have on the economic condition of
Susan Lee Hanzel. Susan Lee Hanzel may seek to
diversify her investments, which may result in Susan
Lee Hanzel restructuring her investments, although no
decision to do so has been reached at this time.
In addition to the possible courses of action
mentioned above, and the factors which may be
considered in connection with those possible courses
of action, Susan Lee Hanzel may pursue a course or
courses of action which are currently not under
consideration and factors not mentioned or currently
under consideration may play a significant role in
selection of such courses of action.
Item 5. Interest in Securities of the Issuer.
(a) Please refer to numbers 11 and 13 of the cover
page.
(b) Please refer to numbers 7, 8, 9, 10 and 11,
inclusive, on the cover page.
(c) Please refer to numbers 3 and 4 on the cover
page.
(d) Not applicable.
(e) Not applicable.
Item 6. Contracts, Arrangements, Understandings or
Relationships with Respect to Securities of the
Issuer.
Except as set forth in Items 3 and 4 above, the Susan
Lee Hanzel does not have any contract, arrangement,
understanding or relationship (legal or otherwise)
with any person with respect to any Securities of the
Issuer, including but not limited to, transfer or
voting of any of the Securities, finder's fees, joint
ventures, loan or option arrangements, put or calls,
guarantees of profits, division of profits or loss,
or the giving or withholding of proxies.
Item 7. Material to be Filed as Exhibits
Not applicable.
Signature
After reasonable inquiry and to the best of my
knowledge and belief, I certify that the information
set forth in this statement is true, complete and
correct.
Date: November 17, 1997 /s/ Susan Lee Hanzel `
_______________________
Susan Lee Hanzel
