FORBEARANCE AGREEMENT

                                                            EXHIBIT 10(y)

                           FORBEARANCE AGREEMENT

     In connection with the $5,000,000 public offering by Credit Concepts, Inc.
of its Investment Certificates, I hereby confirm my agreement not to demand
payment of any of the promissory notes of Credit Concepts, Inc. that I
presently hold until on or after December 31, 2000.


                                              Xxxxxx X. Xxxxxx
                                        ------------------------------
                                             (Name - Please Print)


                                              /s/ Xxxxxx X. Xxxxxx
                                        ------------------------------
                                             (Signature)

Dated: March 24, 1999