FIRSTPLUS INVESTMENT CORP
8-K, 1998-08-25
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)
                                 August 19, 1998


                        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.1
             ------------

     Filed  concurrently  herewith  under  Form SE are  certain  materials  (the
"Computational  Materials")  furnished to the Registrant by Bear,  Stearns & Co.
Inc., as representative of the underwriters (the "Representative") in respect of
FIRSTPLUS  Home Loan Owner Trust 1998-5,  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 A-9, Class M-1, Class M-2
and Class B-1 Notes (the  "Notes").  The Notes are being  offered  pursuant to a
Prospectus Supplement,  dated August 19, 1998, 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.

     The Computational  Materials were prepared solely by the Representative 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.





- ----------
1    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:  August 14, 1998






     EXHIBIT INDEX



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


99.1                          Computational Materials                P


















                    EXHIBIT 99.1 COMPUTATIONAL MATERIALS (P)



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