UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No. ___)*
FIRST SIERRA FINANCIAL, INC.
(Name of Issuer)
COMMON STOCK
(Title of Class of Securities)
335944 10 4
(CUSIP Number)
*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 the
disclosures provided in a prior cover page.
The information required in the remainder of this cover page shall not 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).
SCHEDULE 13G
CUSIP No. 335944 10 4
___________________________________________________________________________
1 NAMES OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Thomas J. Depping
___________________________________________________________________________
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) / /
(b) / /
___________________________________________________________________________
3 SEC USE ONLY
___________________________________________________________________________
4 CITIZENSHIP OR PLACE OF ORGANIZATION
U.S.A.
___________________________________________________________________________
5 SOLE VOTING POWER
NUMBER OF
1,805,800
SHARES _______________________________________________________
6 SHARED VOTING POWER
BENEFICIALLY
None
OWNED BY _______________________________________________________
7 SOLE DISPOSITIVE POWER
EACH
1,805,800
REPORTING _______________________________________________________
8 SHARED DISPOSITIVE POWER
PERSON WITH
___________________________________________________________________________
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,805,800
___________________________________________________________________________
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
CERTAIN SHARES* / /
___________________________________________________________________________
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
19.9%
___________________________________________________________________________
12 TYPE OF REPORTING PERSON*
IN
___________________________________________________________________________
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Item 1(a) Name of Issuer:
First Sierra Financial, Inc.
Item 1(b) Address of Issuer's Principal Executive Offices:
600 Travis Street, Suite 7050
Houston, Texas 77002
Item 2(a) Name of Person Filing:
Thomas J. Depping
Item 2(b) Address of Principal Business Office of Pioneer Life and PFS
600 Travis Street, Suite 7050
Houston, Texas 77002
Item 2(c) Citizenship:
U.S.A.
Item 2(d) Title of Class of Securities:
Common Stock, $.01 par value
Item 2(e) CUSIP Number:
335944 10 4
Item 3. Not Applicable
Item 4. Ownership:
(a) Amount Beneficially Owned as of December 31, 1997:
1,805,800
(b) Percent of Class: 19.9%
(c) Number of shares as to which such person has:
(i) sole power to vote or to direct the vote: 1,805,800
(ii) shared power to vote or to direct the vote: None
(iii) sole power to dispose or to direct the
disposition of: 1,805,800
(iv) shared power to dispose or to direct the
disposition of: None
Item 5. Ownership of Five Percent or Less of a Class:
Not applicable
Item 6. Ownership of More Than Five Percent on Behalf of Another Person:
Not applicable
Item 7. Identification and Classification of the Subsidiary Which Acquired the
Security Being Reported on by the Parent Holding Company:
Not applicable
Item 8. Identification and Classification of Member of the Group:
Not applicable
Item 9. Notice of Dissolution of Group:
Not applicable
Item 10. Certification:
Not applicable
By signing below I certify that, to the best of my knowledge and belief,
the securities referred to above were acquired in the ordinary course of
business and were not acquired for the purpose of and do not have the
effect of changing or influencing the control of the issuer of such
securities and were not acquired in connection with or as a participant in
any transaction having such purpose or effect.
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.
Dated: February 12, 1998
/s/ Thomas J. Depping
Thomas J. Depping
Attention: Intentional misstatements or omissions of fact constitute Federal
criminal violations. (See 18 U.S.C. 1001)
