Exhibit 5.1

                           [JENKENS & GILCHRIST LETTERHEAD]




                                    October 9, 1997



FIRSTPLUS Financial Group, Inc.
1600 Viceroy
8th Floor
Dallas, Texas 75235

    Re:  Offering of Common Stock of FIRSTPLUS Financial Group, Inc.

Gentlemen:

    Concurrently with the giving of this opinion, FIRSTPLUS Financial Group,
Inc., a Nevada corporation (the "Company"), is filing with the Securities and
Exchange Commission (the "Commission") its registration statement on Form S-3
(the "Registration Statement") under the Securities Act of 1933, as amended (the
"Act").  The Registration Statement relates to the sale by the Company of an
aggregate of 3,400,000 shares (the "Shares") of common stock, par value $.01 per
share, of the Company, pursuant to Rule 415 under the Act.  We have acted as
counsel to the Company in connection with the preparation and filing of the
Registration Statement.

    In connection therewith, we have examined and relied upon the original or
copies, certified to our satisfaction, of (i) the Amended and Restated Articles
of Incorporation and Bylaws of the Company, in each case as amended to date,
(ii) copies of resolutions of the Board of Directors of the Company authorizing
the issuances of the Shares, (iii) the Registration Statement, and all exhibits
thereto, and (iv) such other documents and instruments as we have deemed
necessary for the expression of the opinions herein contained.  In making the
foregoing examinations, we have assumed the genuineness of all signatures and
the authenticity of all documents submitted to us as originals, and the
conformity to original documents of all documents submitted to us as certified
or photostatic copies.  As to various questions of fact material to this
opinion, we have relied, to the extent we deem reasonably appropriate, upon
representations or certificates of officers or directors of the Company and upon
documents, records and instruments furnished to us by the Company, without
independent check or verification of their accuracy.



FIRSTPLUS Financial Group, Inc.
October 9, 1997
Page 2


    Based upon the foregoing examination, we are of the opinion that the Shares
to be sold by the Company in the offering, as described in the Prospectus
forming a part of the Registration Statement, have been duly and validly
authorized for issuance and the Shares, when sold by the Company in the manner
stated in the Prospectus constituting a part of the Registration Statement, will
be legally issued, fully paid and nonassessable.

    We hereby consent to the filing of this opinion as an exhibit to the
Registration Statement and to the use of our name under the caption "Legal
Matters" in the Prospectus forming a part of the Registration Statement.  In
giving such consent, we do not admit that we come within the category of persons
whose consent is required by Section 7 of the Act or the rules and regulations
of the Commission thereunder.

                                       Respectfully submitted,

                                       JENKENS & GILCHRIST, A
                                       PROFESSIONAL CORPORATION



                                       By: /s/ Ronald J. Frappier
                                          ------------------------------------
                                          Ronald J. Frappier, Esq.