FIRSTPLUS INVESTMENT CORP
8-K, 1997-11-20
ASSET-BACKED SECURITIES
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                  -----------------------------------------
                      SECURITIES AND EXCHANGE COMMISSION

                           Washington, D.C.  20549

                                   FORM 8-K

                                CURRENT REPORT

                    PURSUANT TO SECTION 13 OR 15(d) OF THE
                     SECURITIES AND EXCHANGE ACT OF 1934


               Date of Report (Date of earliest event reported)
                              November 14, 1997


                       FIRSTPLUS Investment Corporation           
           ------------------------------------------------------
            (Exact Name of Registrant as Specified in its Charter)



               Nevada                   333-26527             75-2596063
   ------------------------------       ------------     -------------------
   (State or Other Jurisdiction         (Commission      (I.R.S. Employer
   of Incorporation)                    File Number)     Identification No.)


       3773 Howard Hughes Parkway
               Suite 300N
            Las Vegas, Nevada                                 89109       
       --------------------------                      -------------------
         (Address of Principal                              (Zip Code)
           Executive Offices)

     Registrant's telephone number, including area code:  (702) 866-2236


                                   No Change                                
       -------------------------------------------------------------
        (Former Name or Former Address, if Changed Since Last Report)





     Item 5.  Other Events./F1/
              ------------

     Filed concurrently herewith  under Form  SE are  certain materials  (the
"Computational   Materials") furnished to  the Registrant  by Merrill  Lynch,
Pierce,  Fenner & Smith  Incorporated, as representative  of the underwriters
(the "Representative")  and by  Banc One Capital  Corporation, in  respect of
FIRSTPLUS  Home Loan  Owner Trust  1997-4, Class  A-1, Class A-2,  Class A-3,
Class A-4, Class A-5, Class A-6, Class A-7, Class A-8, Class M-1 and Class M-
2 Notes (the "Notes").   The Notes are being offered pursuant to a Prospectus
Supplement, dated  November 14, 1997,  and a Prospectus, dated  September 10,
1997 (together, the "Prospectus"), which  are being filed with the Commission
pursuant to Rule  424(b) under the  Securities Act of  1933, as amended  (the
"Act").   The  Securities have been  registered pursuant  to the Act  under a
Registration  Statement  on  Form  S-3  (No.  333-26527)  (the  "Registration
Statement").  The  Computational Materials are  incorporated by reference  in
the Registration Statement.


     Each  set  of  Computational  Materials  were  prepared  solely  by  the
Representative and  by Banc  One Capital  Corporation, respectively, and  the
Registrant  did  not  prepare  or   participate  (other  than  providing  the
background  information concerning the  underlying pool of  assets upon which
the  Computational  Materials  are  based  to  the  Representative)  in   the
preparation of the Computational Materials.

     Any statements or  information contained in the  Computational Materials
shall be deemed to be modified  or superseded for purposes of the  Prospectus
and the Registration Statement by  statements or information contained in the
Prospectus.





- ----------------------
     /F1/  Capitalized terms used but not otherwise defined herein shall have
the same meanings ascribed to them in the Prospectus.



          Item 7.   Financial Statements; Pro Forma Financial Information and
                    ---------------------------------------------------------
                    Exhibits.
                    --------

     (a)  Not applicable.

     (b)  Not applicable.

     (c)  Exhibits:

               99.1      Computational Materials. (P)




                                  SIGNATURES


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

                              FIRSTPLUS Investment Corporation



                              By:  /s/ Lee F. Reddin                       
                                  -----------------------------------------
                                  Name:  Lee F. Reddin
                                  Title: Vice President




Dated:  November 17, 1997





                                EXHIBIT INDEX
                                -------------




Exhibit No.                   Description                   Page No.
- -----------                   -----------                   --------


99.1                          Computational Materials           P








                 EXHIBIT 99.1     COMPUTATIONAL MATERIALS (P)



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