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)
                                 June 18, 1998

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


Nevada                             333-26527                75-2596063
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(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
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(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 Deutsche Bank
Securities Inc., as representative of the underwriters (the "Representative")
in respect of FIRSTPLUS Home Loan Owner Trust 1998-4, 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,
Class M-2 and Class B-1 Notes (the "Notes"). The Notes are being offered
pursuant to a Prospectus Supplement, dated June 18, 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.


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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 Reddin
                                    ----------------------------
                                    Name: Lee F. Reddin
                                    Title:  Vice President

Dated:  June 23, 1998

                                 EXHIBIT INDEX

Exhibit No.                Description                      Page No.

99.1                       Computational Materials             P

                   EXHIBIT 99.1 COMPUTATIONAL MATERIALS (P)