| x | ANNUAL                REPORT UNDER OR OF THE SECURITIES EXCHANGE ACT OF                1934 |
|---|---------------------------------------------------------------------------------------------|

----

| o | TRANSITION                REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF                1934 |
|---|------------------------------------------------------------------------------------------------------------------|

| Nevada                                                                       |   | 75-2561085                                                      |
|------------------------------------------------------------------------------|--------|-----------------------------------------------------------------|
| (State                or other jurisdiction of                incorporation) |   | (IRS                Employer Identification                No.) |
|                                                                         |   |                                                            |
| 0-27750                                                                      |   |                                                            |
| (Commission                File Number)                                      |   |                                                            |
|                                                                         |   |                                                            |
| 5100                North O’Connor Blvd., 6th                Floor     |   |                                                            |
| Irving,                Texas                                                 |   | 75039                                                           |
| (Address                of Principal Executive                Offices)       |   | (Zip                Code)                                       |

**DOCUMENTS      INCORPORATED BY REFERENCE**

----

**GENERAL      NOTE**

----

**EXPLANATORY      NOTE**

|   | Item                9. | Directors,                Executive Officers, Promoters, Control Persons and Corporate Governance;                Compliance with Section 16(a) of the Exchange                Act |
|--------|------------------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | Item                10. | Executive                Compensation |
|--------|-------------------------|---------------------------------------|

|   | Item                11. | Security                Ownership of Certain Beneficial Owners and Management and Related                Stockholder Matters |
|--------|-------------------------|------------------------------------------------------------------------------------------------------------------------------|

|   | Item                12. | Certain                Relationships and Related Transactions, and Director Independence |
|--------|-------------------------|------------------------------------------------------------------------------------------|

|   | Item                14. | Principal                Accounting Fees and Services |
|--------|-------------------------|-------------------------------------------------------|

----

**PART      III**

| **ITEM              9.** | **DIRECTORS,                EXECUTIVE OFFICERS, PROMOTERS, CONTROL PERSONS AND CORPORATE GOVERNANCE;                COMPLIANCE WITH SECTION 16(a) OF THE EXCHANGE                ACT.** |
|--------------------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| **Name**                          |   | **Age** |   | **Positions                and Offices With****the                Company** |   | **Director/Officer                Since** |
|-----------------------------------|--------|---------|--------|-----------------------------------------------------------------------------|--------|-------------------------------------------|
| Robert                P. Freeman  |   | 75      |   | Director                and Chairman of the Board                           |   | 1998                                      |
| John                R. Fitzgerald |   | 59      |   | Director                                                                    |   | 1995                                      |
| Daniel                T. Phillips |   | 57      |   | Director,                President and Chief Executive Officer              |   | 1994                                      |
| James                Roundtree    |   | 50      |   | Director                and Chief Financial Officer                         |   | 2006                                      |
| David                B. Ward      |   | 66      |   | Director                                                                    |   | 1999                                      |
| Jack                (J.D.) Draper |   | 52      |   | Executive                Vice President                                     |   | 2003                                      |

*Robert      P. Freeman*

*John      R. Fitzgerald*

|  | · | NFL                Alumni Association |
|--|--------|---------------------------------------|

|  | · | President,                Dallas Chapter, 1993 |
|--|--------|------------------------------------------------|

|  | · | Member,                Board of Directors, 1985 - 1992 |
|--|--------|--------------------------------------------------------|

|  | · | Board                of Governors, Canyon Creek Country Club, 1990 - 1994 |
|--|--------|---------------------------------------------------------------------------|

|  | · | Participant,                Muscular Dystrophy Association’s Jerry Lewis Telethon |
|--|--------|-----------------------------------------------------------------------------------------|

|  | · | Chairman,                Celebrity Selection Committee, PGAS and MDA Golf Tournaments |
|--|--------|---------------------------------------------------------------------------------------|

|  | · | Board                Member, Big Brothers and Big Sisters of Arlington |
|--|--------|------------------------------------------------------------------------|

|  | · | Consultant,                Tournament Committee for Celebrities, Colonial National Invitation                PGA                Golf Tournament’s Pro-Am Tournament |
|--|--------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

*Daniel      T. Phillips*

----

*James      Roundtree*

*David      B. Ward*

|  | · | Member                of New Jersey Department of Banking Advisory Board, 1990 - 1996 |
|--|--------|---------------------------------------------------------------------------------------|

|  | · | Member                of Federal Reserve Board Consumer Advisory Council, 1989 - 1991 |
|--|--------|---------------------------------------------------------------------------------------|

|  | · | Member                of American Financial Services Association Law Committee |
|--|--------|--------------------------------------------------------------------------------|

|  | · | Member                of the New Jersey and American Bar Associations |
|--|--------|-----------------------------------------------------------------------|

|  | · | Military                Service: Lt. j.g U.S. Coast Guard, active duty 1966 -                1969 |
|--|--------|---------------------------------------------------------------------------------------------------|

*Jack      (J.D.) Draper*

**Section      16(a) Beneficial Ownership Reporting Compliance**

----

**Code      of Ethics**

**Shareholder      Nominations for Director Nominees**

**Audit      Committee**

| **ITEM              10.** | **EXECUTIVE                COMPENSATION.** |
|---------------------------|--------------------------------------------|

**Summary      Compensation Table**

| **Name                & Principal Position**                                                       |   | **Year** |   | **Salary                ($)** |   | **Bonus                ($)** |       | **Option****Awards                ($)** |   | **All                Other Compensation****($)** |   | **Total                ($)** |   |
|--------------------------------------------------------------------------------------------------------|--------|----------|--------|-------------------------------|--------|------------------------------|------------|-----------------------------------------|--------|--------------------------------------------------|--------|------------------------------|--------|
| Jack                (J.D.) DraperPresident                and ChiefExecutive                Officer(1) |   |     | 2006   |                          |   | 59,847                       | ** ** |                                    | 15,000 |                                             |   | 603                          | (2)    |   | 26,500 | (3) |   | 101,950 | ** ** |
|                                                                                                   |   |     |   |                          |   |                         |       |                                    |   |                                             |   |                         |   |   |   |   |   |   |   |
| Daniel                T. PhillipsPresident                and ChiefExecutive                Officer(1) |   |     | 2006   |                          |   | 6,000                        | ** ** |                                    | 60,000 |                                             |   | 603                          | (2)    |   | 12,000 | (4) |   | 100,603 | ** ** |

----

| (1) | Mr.                Draper served as President and Chief Executive Officer from January                1,                2006 to November 15, 2006, when the Board of Directors appointed                Mr.                Phillips as President and Chief Executive Officer and Mr. Draper                as                Executive Vice President. In connection with these appointments,                the Board                of Directors set a monthly salary for Mr. Phillips and Mr. Draper                of                $4,000 and $4,250, respectively. |
|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   |   |
|--------|--------|
| (2) | On                December 12, 2006, the Board of Directors approved awards of 470,000                stock                options to be granted under the Stock Option Plan for FIRSTPLUS Financial                Group, Inc. to each of Mr. Phillips and Mr. Draper. The exercise                price per                share for each of the awards is $.08 per share, and each award has                a term                of 10 years. The options vest with respect to one-third of the shares                issuable thereunder on the date of grant, one-third of the shares                on the                first anniversary of the date of grant and one-third of the shares                on the                second anniversary of the date of grant. |
|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|   |   |
|--------|--------|
| (3) | Consists                of $9,000 for attendance of meetings of the Company's Investment                Committee                and $17,500 for Mr. Draper's service as trustee of the FIRSTPLUS                Financial                Group Grantor Residual Trust. |
|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|   |   |
|--------|--------|
| (4) | Consists                of fees for attendance of meetings of the Company's Investment                Committee. |
|-----|------------------------------------------------------------------------------------------------------------------|

----

**Outstanding      Equity Awards at Fiscal Year-End**

|                              |   | **Option                Awards**                                                          |    |
|-----------------------------------|--------|-------------------------------------------------------------------------------------------|---------|
| **Name**                          |   | **Number                of Securities Underlying Unexercised Options (#)****Exercisable** |    | **Number                of Securities Underlying Unexercised Options (#)****Unexercisable** |   | **Option                Exercise****Price                ($)** |   | **Option****Expiration                Date** |   |
| Jack                (J.D.) Draper |   |                                                                                      | 156,667 |   |   | 313,333 |   |   | .08 |   |   | 12/12/16 |   |
|                              |   |                                                                                      |    |   |   |   |   |   |   |   |   |   |   |
| Daniel                T. Phillips |   |                                                                                      | 156,667 |   |   | 313,333 |   |   | .08 |   |   | 12/12/16 |   |

**Determination      of Executive Compensation**

|  | · | determining                the compensation of the President and Chief Executive Officer of                the                Company, |
|--|--------|----------------------------------------------------------------------------------------------------------------------------------------|

|  | · | upon                recommendation of the Chief Executive Officer, reviewing and approving                any                other executive officers’ compensation;                and |
|--|--------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | · | reviewing,                approving and granting awards under stock incentive                plans. |
|--|--------|-----------------------------------------------------------------------------------------------------|

|  | · | establishing                objectives for compensation, |
|--|--------|----------------------------------------------------------|

|  | · | defining                appropriate competitive reference                points, |
|--|--------|----------------------------------------------------------------------------------|

|  | · | creating                an appropriate linkage between compensation programs and Company                objectives and values, |
|--|--------|--------------------------------------------------------------------------------------------------------------------------------|

|  | · | describing                the roles of various elements of compensation,                and |
|--|--------|---------------------------------------------------------------------------------------------|

|  | · | maintaining                good governance practices concerning                compensation. |
|--|--------|----------------------------------------------------------------------------------------------|

----

**Director      Compensation for 2006**

| **Name**                              |   | **Fees                Earned or****Paid                in****Cash****($)(1)** |   | **Stock****Awards****($)** |   | **Option****Awards****($)(2)** |   | **Non-Equity****Incentive                Plan****Compensation****($)** |   | **Change                in Pension Value and Nonqualified****Deferred****Compensation****Earnings                ($)** |   | **All                Other****Compensation****($)** |   | **Total****($)** |   |
|---------------------------------------|--------|-------------------------------------------------------------------------------|--------|----------------------------|--------|--------------------------------|--------|------------------------------------------------------------------------|--------|------------------------------------------------------------------------------------------------------------------------|--------|-----------------------------------------------------|--------|------------------|--------|
|                                  |   |                                                                          |   |                       |   |                           |   |                                                                   |   |                                                                                                                   |   |                                                |   |             |   |
| Robert                P. Freeman      |   |                                                                          | 23,500 |                       |   | -                              |   |                                                                   | 603    |                                                                                                                   |   | -                                                   |   |             | -      |   |   | 30,000 |   |   | 54,103 |   |
| John                R. Fitzgerald (3) |   |                                                                          | 34,000 |                       |   | -                              |   |                                                                   | 603    |                                                                                                                   |   | -                                                   |   |             | -      |   |   | 30,000 |   |   | 64,603 |   |
| Daniel                T. Phillips (4) |   |                                                                          | 40,000 |                       |   | -                              |   |                                                                   | 603    |                                                                                                                   |   | -                                                   |   |             | -      |   |   | 60,000 |   |   | 100,603 |   |
| James                Roundtree (3)(5) |   |                                                                          | 26,000 |                       |   | -                              |   |                                                                   | 603    |                                                                                                                   |   | -                                                   |   |             | -      |   |   | 60,000 |   |   | 86,603 |   |
| David                B. Ward          |   |                                                                          | 23,500 |                       |   | -                              |   |                                                                   | 603    |                                                                                                                   |   | -                                                   |   |             | -      |   |   | 30,000 |   |   | 54,103 |   |

----

| (1) | The                Company pays directors $1,500 for each meeting in which the director                participates. The Company does not pay directors who are also employees                of                the Company, if any, any additional compensation for their service                as                directors, except for the reimbursement of expenses incurred in attending                meetings. Directors may also receive stock options for their services                as                directors. |
|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   |   |
|--------|--------|
| (2) | On                December 12, 2006, the registrant’s Board of Directors approved awards of                470,000 stock options to be granted under the Stock Option Plan for                FIRSTPLUS Financial Group, Inc. to each of the directors. The exercise                price per share for each of the awards is $.08 per share, and each                award                has a term of 10 years. The options vest with respect to one-third                of the                shares issuable thereunder on the date of grant, one-third of the                shares                on the first anniversary of the date of grant and one-third of the                shares                on the second anniversary of the date of                grant. |
|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|   |   |
|--------|--------|
| (3) | Mr.                Fitzerald and Mr. Roundtree each receive $1.500 per month from the                FIRSTPLUS Financial Group, Inc. Grantor Residual Trust for their                services                as trustees. |
|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|   |   |
|--------|--------|
| (4) | Mr.                Phillips was appointed as the Company's President and Chief Executive                Officer in November 2006. |
|-----|-----------------------------------------------------------------------------------------------------------------------------------|
|   |   |
|--------|--------|
| (5) | Mr.                Roundtree was appointed as the Company's Chief Financial Officer                in                November 2006 and as a director in December                2006. |
|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| **ITEM              11.** | **SECURITY                OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND RELATED                SHAREHOLDER MATTERS.** |
|---------------------------|-----------------------------------------------------------------------------------------------------------------------------------|

| **Name                and Address of Beneficial Owner**                                            |   | **Shares                Owned** |      | **Percent                of Class(1)** |   |
|----------------------------------------------------------------------------------------------------|--------|---------------------------------|-----------|----------------------------------------|--------|
| Daniel                T. Phillips                                                                  |   |                            | 206,667   | (2)                                    |   | * |   |
| Robert                P. Freeman                                                                   |   |                            | 193,667   | (3)                                    |   | * |   |
| John                R. Fitzgerald                                                                  |   |                            | 170,391   | (4)                                    |   | * |   |
| David                B. Ward                                                                       |   |                            | 156,667   | (5)                                    |   | * |   |
| James                Roundtree                                                                |   |                            | 156,667   | (6)                                    |   | * |   |
| Jack                (J.D.) Draper                                                                  |   |                            | 156,667   | (7)                                    |   | * |   |
| Deutsche                Bank AG(8)                                                            |   |                            | 3,544,500 |                                   |   | 7.3 | % |
| Rupen                Gulenyan(9)                                                                   |   |                            | 3,488,300 |                                   |   | 7.2 | % |
| Danford                L. Martin(10)                                                               |   |                            | 2,282,500 |                                   |   | 4.7 | % |
| All                directors and officers as a group (6 persons)                (2)(3)(4)(5)(6)(7) |   |                            | 1,040,726 |                                   |   | 2.6 | % |

----

| (1) | The                percentage of ownership is based on 48,245,090 shares of common stock                outstanding as of April 25, 2007. Except as otherwise indicated,                the                persons named in the table possess sole voting and investment power                with                respect to all shares of common stock shown as beneficially owned                by them.                Beneficial ownership as reported in the above table has been determined                according to Rule 13d-3 of the Securities Exchange Act of 1934, as                amended                (the “Exchange Act”). The amounts shown in the table include shares of                common stock issuable upon exercise of outstanding options exercisable                within 60 days of April 25, 2007. Except as otherwise noted, the                address                of the named individuals is 5100 N. O’Connor Boulevard, 6th Floor, Irving,                Texas 75039. |
|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   |   |
|--------|--------|
| (2) | Consists                of 50,000 shares of common stock held by Phillips Partners, Ltd.,                over                which Mr. Phillips has voting and dispositive control, and 156,667                shares                of common stock issuable upon the exercise of                options. |
|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|   |   |
|--------|--------|

| (3) | Includes                156,667 shares of common stock issuable upon the exercise of                options. |
|-----|--------------------------------------------------------------------------------------------------------------|

|   |   |
|--------|--------|
| (4) | Includes                324 shares of common stock held by Mr. Fitzgerald’s wife and 156,667                shares of common stock issuable upon the exercise of                options. |
|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|   |   |
|--------|--------|

| (5) | Consists                of 156,667 shares of common stock issuable upon the exercise of                options. |
|-----|-----------------------------------------------------------------------------------------------------------------|

|   |   |
|--------|--------|
| (6) | Consists                of 156,667 shares of common stock issuable upon the exercise of                options. |
|-----|-----------------------------------------------------------------------------------------------------------------|
|   |   |
|--------|--------|

| (7) | Consists                of 156,667 shares of common stock issuable upon the exercise of                options. |
|-----|-----------------------------------------------------------------------------------------------------------------|

|   |   |
|--------|--------|
| (8) | According                to Schedule 13G, filed on February 2, 2007. The address of the filing                person is Taunusanlage 12, D-60325 Frankfurt am Main, Federal Republic                of                Germany. |
|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|   |   |
|--------|--------|

| (9) | According                to Schedule 13D/A, filed on March 23, 2006. Mr. Gulenyan’s address is 3040                E. Tremont Ave., Suite 201, Bronx, New York                10461. |
|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   |   |
|--------|--------|
| (10) | According                to Schedule 13D/A, filed on September 12, 2006. Includes 857,500                shares of                common stock held by Mr. Martin’s spouse. Mr. Martin’s address is 7 Egret                Lane, Aliso Viejo, California                92656. |
|------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| **ITEM                12.** | **CERTAIN                RELATIONSHIPS AND RELATED TRANSACTIONS, AND DIRECTOR                INDEPENDENCE.** |
|-----------------------------|--------------------------------------------------------------------------------------------------------------|

**Certain      Relationships and Related Transactions**

*Wall      Street Journal*

**Director      Independence**

| **ITEM              13.** | **EXHIBITS.** |
|---------------------------|---------------|

| **ITEM              14.** | **PRINCIPAL                ACCOUNTANT FEES AND                SERVICES.** |
|---------------------------|---------------------------------------------------------------------------|

|                                        |   | **December                31, 2006** |   | **December                31, 2005** |   |
|---------------------------------------------|--------|--------------------------------------|--------|--------------------------------------|--------|
| (i) Audit                Fees          |   | $                                    | 67,592 | ** **                           | $      | 64,500 |   |
| (ii) Audit                Related Fees |   | $                                    | -      | ** **                           | $      | 5,256 |   |
| (iii) Tax                Fees          |   | $                                    | -      | ** **                           | $      | - |   |
| (iv) All                Other Fees     |   | $                                    | -      | ** **                           | $      | **-** |   |

*Audit      Fees*

----

*Audit      Related Fees*

*Tax      Fees*

*All      Other Fees*

**Policy      on Pre-Approval of Audit and Permissible Non-Audit Services of Independent      Auditors**

----

**SIGNATURES**

|                              |                                                            |                                |
|-----------------------------------|-----------------------------------------------------------------|-------------------------------------|
|                              | FIRSTPLUS                Financial Group, Inc.(Registrant)      |
|                         |                                                       |                           |
| Date:              April 30, 2007 | By:                                                   | /s/              Daniel T. Phillips |
|                              | Daniel              T. Phillips                                 |
|                              | President              and              Chief Executive Officer |

| **Signature**                                                           |   | **Title**                                                                                                   |   | **Date**                      |
|-------------------------------------------------------------------------|--------|-------------------------------------------------------------------------------------------------------------|--------|-------------------------------|
|                                                                    |   |                                                                                                        |   |                          |
|                                                                    |   |                                                                                                        |   |                          |
|  Robert                P. Freeman                                  |   | Director                and Chairman of the Board                                                           |   |                          |
|                                                                    |   |                                                                                                        |   |                          |
|                                                                    |   |                                                                                                        |   |                          |
| /s/                Daniel T. Phillips Daniel                T. Phillips |   | Director,                President and Chief Executive Officer (Principal Executive                Officer) |   | April                30, 2007 |
|                                                                    |   |                                                                                                        |   |                          |
|                                                                    |   |                                                                                                        |   |                          |
| /s/                James Roundtree James                Roundtree       |   | Director,                Chief Financial Officer (Principal Accounting Officer)                             |   | April                30, 2007 |
|                                                                    |   |                                                                                                        |   |                          |
|                                                                    |   |                                                                                                        |   |                          |
| /s/                John R. Fitzgerald John                R. Fitzgerald |   | Director                                                                                                    |   | April                30, 2007 |
|                                                                    |   |                                                                                                        |   |                          |
|                                                                    |   |                                                                                                        |   |                          |
| /s/                David B. Ward David                B. Ward           |   | Director                                                                                                    |   | April                30, 2007 |

----

**INDEX      TO EXHIBITS**

| **Exhibit                No.** |   | **Document                Description**                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |
|--------------------------------|--------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|                           |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |
| 2.1(1)                         |   | Modified                Third Amended Plan of Reorganization of FirstPlus Financial,                Inc.                                                                                                                                                                                                                                                                                                                                                                                                                     |
|                           |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |
| 2.2(1)                         |   | Trust                Agreement for the FPFI Creditor Trust                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |
|                           |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |
| 3.1(1)                         |   | Amended                and Restated Articles of Incorporation, as amended                                                                                                                                                                                                                                                                                                                                                                                                                                                    |
|                           |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |
| 3.2(1)                         |   | Second                Amended and Restated Bylaws                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |
|                           |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |
| 4.1+                           |   | Rights                Agreement dated as of May 20, 1998, between FIRSTPLUS Financial Group,                Inc. and ChaseMellon Shareholder Services, L.L.C., which includes                the form                of Certificate of Designation for Designating Series C Junior                Participating Preferred Stock, $1.00 par value, as Exhibit A, the                form of                Right Certificate as Exhibit B, and the Summary of Rights as Exhibit                C                (Exhibit 4.1) |
|                           |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |
| 4.1.1(1)                       |   | First                Amendment to Rights Agreement dated as of October 25, 2001, between                FIRSTPLUS Financial Group, Inc. and Mellon                Investor Services LLC                                                                                                                                                                                                                                                                                                                                      |
|                           |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |
| 4.1.2(1)                       |   | Second                Amendment to Rights Agreement dated as of June 27, 2002, between                FIRSTPLUS                Financial Group, Inc. and Mellon                Investor Services LLC                                                                                                                                                                                                                                                                                                                         |
|                           |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |
| 4.2(1)                         |   | Form                of Certificate of Designation for Designating Series C Junior                Participating Preferred Stock, $1.00 par value (included as Exhibit                A to                the Rights Agreement, which is Exhibit 4.1 hereto)                                                                                                                                                                                                                                                                   |
|                           |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |
| 4.3(1)                         |   | Form                of Right Certificate (included as Exhibit B to the Rights Agreement,                which                is Exhibit 4.1 hereto). Pursuant to the Rights Agreement, printed                Right                Certificates will not be mailed until as soon as practicable after                the                Distribution Date                                                                                                                                                                    |
|                           |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |
| 4.4(1)                         |   | Form                of Summary of Rights (included as Exhibit C to the Rights Agreement,                which                is Exhibit 4.1 hereto) that, together with certificates representing                the                outstanding Common Shares of the Company, shall represent the Rights                until                the Distribution Date                                                                                                                                                           |
|                           |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |
| 4.5(1)                         |   | Specimen                of legend to be placed, pursuant to Section 3(c) of the Rights Agreement,                on all new Common Share certificates issued after June 1, 1998 and                prior                to the Distribution Date upon transfer, exchange or new issuance                (included                in Section 3(c) of the Rights Agreement, which is Exhibit 4.1                hereto)                                                                                                        |
|                           |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |
| 4.6(1)                         |   | FIRSTPLUS                Financial Group, Inc. Grantor Residual Trust Agreement, dated July                15,                2002                                                                                                                                                                                                                                                                                                                                                                                           |
|                           |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |
| 4.7(1)                         |   | Supplemental                Indenture, dated as of December 4, 2000, by and between FirstPlus                Financial Group, Inc. and HSBC Bank USA                                                                                                                                                                                                                                                                                                                                                                         |
|                           |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |
| 4.8(1)                         |   | Form                of Certificate of Certificated Interests Representing Beneficial                Interests                in The FPFI Creditor Trust Exchanged For 7.25% Convertible Subordinated                Notes Due 2003                                                                                                                                                                                                                                                                                           |
|                           |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |
| 10.1(1)                        |   | Agreement                for Settlement Between Bear Stearns & Co., Inc. and FirstPlus                Financial Group, Inc., dated August 19, 1999.                                                                                                                                                                                                                                                                                                                                                                      |
|                           |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |
| 10.2(1)                        |   | Conversion                Agreement, dated as of June __, 2001, by and between FirstPlus Financial                Group, Inc., and the Certificateholders signatory                thereto                                                                                                                                                                                                                                                                                                                                   |
|                           |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |
| 10.3(1)                        |   | Letter                Agreement, dated June 13, 2001, by FirstPlus Financial Group, Inc.                and                accepted by FPFI Creditors Trust                                                                                                                                                                                                                                                                                                                                                                  |
|                           |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |
| 10.4(1)                        |   | Stipulation                and Agreement of Settlement, dated as of July 30, 2003, between Class                Representative Edward P. Doremus, III, Milberg Weiss Bershad Hynes&                Lerach LLP, Sirota & Sirota LLP, FirstPlus Financial Group, Inc.,                Daniel T. Phillips, Eric C. Green, Haynes and Boone, LLP and National                Union Fire Insurance Company of Pittsburgh, PA                                                                                              |
|                           |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |
| 10.5(1)                        |   | Escrow                Agreement, dated as of July 30, 2003, by and among FirstPlus Financial                Group, Inc., Class Representative Edward P. Doremus, III, Milberg                Weiss                Bershad Hynes & Lerach LLP and Sirota & Sirota                LLP                                                                                                                                                                                                                                  |
|                           |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |
| 10.6(1)                        |   | Assignment                and Assumption Agreement, dated as of July 30, 2003, by and between                FirstPlus Financial Group, Inc., Class Representative Edward P. Doremus,                III, Milberg Weiss Bershad Hynes & Lerach LLP and Sirota & Sirota                LLP                                                                                                                                                                                                                            |
|                           |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |
| 10.7(1)                        |   | Registration                Rights Agreement, dated as of July 30, 2003, by and among FirstPlus                Financial Group, Inc., Capital Lending Strategies, LLC, Class                Representative Edward P. Doremus, III, Milberg Weiss Bershad Hynes&                Lerach LLP and Sirota & Sirota LLP                                                                                                                                                                                                    |
|                           |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |
| 10.8(1)                        |   | Promissory                Note, dated December 20, 2004, by United Lending Partners, LP in                favor of                FirstPlus Financial                                                                                                                                                                                                                                                                                                                                                                        |

----

| 10.9(1)  |   | Subordination                Agreement, dated December 30, 2004, by and between FirstPlus Financial                Group, Inc. and United Lending Partners, LP                                                                                                                                                                                                                                                                            |
|----------|--------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|     |   |                                                                                                                                                                                                                                                                                                                                                                                                                                      |
| 10.10(1) |   | Settlement                Agreement and Mutual Release of Any and All Claims, dated October                12,                2001, by Thaxton Investment Corporation and FirstPlus Financial Group,                Inc.                                                                                                                                                                                                                  |
|     |   |                                                                                                                                                                                                                                                                                                                                                                                                                                      |
| 10.11(2) |   | Settlement                Agreement, dated as of April 6, 2006, by and among FirstPlus Financial                Group, Inc. and Danford L. Martin, individually, on behalf of the                FPFX                Shareholder Value Committee and the FPFX Steering Committee and as                attorney-in-fact for all of the Petitioners in the Election Suit                (as                defined therein) (Exhibit 10.1) |
|     |   |                                                                                                                                                                                                                                                                                                                                                                                                                                      |
| 10.12(2) |   | Factoring                Agreement and Security Agreement, dated February 28, 2006, between                Signs                For Life, LLC and FirstPlus Financial Group, Inc. (Exhibit                10.2)                                                                                                                                                                                                                           |
|     |   |                                                                                                                                                                                                                                                                                                                                                                                                                                      |
| 10.13(3) |   | First                Amended FirstPlus Financial Group, Inc. Grantor Residual Trust Agreement,                dated July 6, 2006 by FirstPlus Financial Group, Inc. as the sole                settlor                and the sole beneficiary (Exhibit 10.1)                                                                                                                                                                             |
|     |   |                                                                                                                                                                                                                                                                                                                                                                                                                                      |
| 10.14(4) |   | Asset                Purchase Agreement, dated as of November 3, 2006, by and between                FIRSTPLUS                Auto Group, Inc. and Eddie Perkins (Exhibit 10.1)                                                                                                                                                                                                                                                           |
|     |   |                                                                                                                                                                                                                                                                                                                                                                                                                                      |
| 10.15(5) |   | Stock                Option Plan for FIRSTPLUS Financial Group, Inc.                                                                                                                                                                                                                                                                                                                                                                      |
|     |   |                                                                                                                                                                                                                                                                                                                                                                                                                                      |
| 14.1*    |   | FirstPlus                Financial Group, Inc. Code of Ethics                                                                                                                                                                                                                                                                                                                                                                             |
|     |   |                                                                                                                                                                                                                                                                                                                                                                                                                                      |
| 21.1(5)  |   | Subsidiaries                of FIRSTPLUS Financial Group, Inc.                                                                                                                                                                                                                                                                                                                                                                            |
|     |   |                                                                                                                                                                                                                                                                                                                                                                                                                                      |
| 31.1(5)  |   | Certification                of Chief Executive Officer required by Rule 13a-14(a) or Rule                15d-14(a)                                                                                                                                                                                                                                                                                                                       |
|     |   |                                                                                                                                                                                                                                                                                                                                                                                                                                      |
| 31.2(5)  |   | Certification                of Chief Financial Officer required by Rule 13a-14(a) or Rule                15d-14(a)                                                                                                                                                                                                                                                                                                                       |
|     |   |                                                                                                                                                                                                                                                                                                                                                                                                                                      |
| 31.3     |   | Certification                of Chief Executive Officer required by Rule 13a-14(a) or Rule                15d-14(a)                                                                                                                                                                                                                                                                                                                       |
|     |   |                                                                                                                                                                                                                                                                                                                                                                                                                                      |
| 31.4     |   | Certification                of Chief Financial Officer required by Rule 13a-14(a) or Rule                15d-14(a)                                                                                                                                                                                                                                                                                                                       |
|     |   |                                                                                                                                                                                                                                                                                                                                                                                                                                      |
| 32.1(5)  |   | Certification                of Chief Executive Officer pursuant to Section 906 of the Sarbanes-Oxley                Act of 2002                                                                                                                                                                                                                                                                                                          |
|     |   |                                                                                                                                                                                                                                                                                                                                                                                                                                      |
| 32.2(5)  |   | Certification                of Chief Financial Officer pursuant to Section 906 of the Sarbanes-Oxley                Act of 2002                                                                                                                                                                                                                                                                                                          |
|     |   |                                                                                                                                                                                                                                                                                                                                                                                                                                      |
| 32.3     |   | Certification                of Chief Executive Officer pursuant to Section 906 of the Sarbanes-Oxley                Act of 2002                                                                                                                                                                                                                                                                                                          |
|     |   |                                                                                                                                                                                                                                                                                                                                                                                                                                      |
| 32.4     |   | Certification                of Chief Financial Officer pursuant to Section 906 of the Sarbanes-Oxley                Act of 2002                                                                                                                                                                                                                                                                                                          |

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| + | Incorporated                by reference to the exhibit shown in parentheses from the Company’s                Current Report on Form 8-K filed as of May 29,                1998. |
|---|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   |   |
|--------|--------|
| * | Incorporated                by reference to the corresponding exhibit from the Company’s Annual Report                on Form 10-KSB for the year ended December 31,                2004. |
|---|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   |   |
|--------|--------|
| (1) | Incorporated                by reference to the corresponding exhibit from the Company’s Current                Report on Form 10-KSB for the year ended December 31,                2005. |
|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|   |   |
|--------|--------|

| (2) | Incorporated                by reference to the exhibit shown in parentheses from the Company’s                Quarterly Report on Form 10-QSB for the quarterly period ended March                31,                2006. |
|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   |   |
|--------|--------|
| (3) | Incorporated                by reference to the exhibit shown in parentheses from the Company’s                Quarterly Report on Form 10-QSB for the quarterly period ended June                30,                2006. |
|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|   |   |
|--------|--------|

| (4) | Incorporated                by reference to the exhibit shown in parentheses from the Company’s                Quarterly Report on Form 10-QSB for the quarterly period ended September                30, 2006. |
|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|   |   |
|--------|--------|

| (5) | Incorporated                by reference to the corresponding exhibit from the Company’s Annual Report                on Form 10-KSB for the year ended December 31,                2006. |
|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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