SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d) OF THE

SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of earliest event reported): July 14, 2008

FIRSTCITY FINANCIAL CORPORATION

(Exact name of registrant as specified in its charter)

Delaware		033-19694		76-0243729
(State of incorporation)		(Commission File No.)		(IRS Employer Identification No.)

6400 Imperial Drive

Waco, Texas 76712

(Address of principal executive offices) (Zip Code)

Registrant’s telephone number, including area code: (254) 761-2800

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligations of the registrant under any of the following provisions:

o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Section 1 - Registrant’s Business and Operations

Item 1.01 Entry into a Material Definitive Agreement.

Amendment to FirstCity Revolving Credit Agreement.

On July 14, 2008, FirstCity Financial Corporation (“FirstCity”) and Bank of Scotland, as agent for the lenders and as lender, entered into Amendment No. 25 dated July 14, 2008, which amended the Revolving Credit Agreement dated November 12, 2004 (the “Credit Agreement”) to add subsections (v) and (vi) to Section 8.18(a) of the Credit Agreement which subsections require FirstCity and all other members of the consolidated group to maintain, on a consolidated basis, a ratio a ratio of net cash flow to total interest and fee expense of not less than 5.00 to 1.00 for the four fiscal quarters then ended and a cash conversion rate of not less than 25% for the four fiscal quarters then ended. The foregoing description of Amendment No. 25 is qualified in its entirety by reference to the full text of Amendment No. 25 attached hereto as Exhibit 10.1 and is incorporated herein by this reference.

Amendment to FirstCity Subordinated Delayed Draw Credit Agreement.

On July 14, 2008, FirstCity Financial Corporation (“FirstCity”) and BoS(USA) Inc., as agent for the lenders and as lender, entered into Amendment No. 12 dated July 14, 2008, which amended the Subordinated Delayed Draw Credit Agreement dated as of September 5, 2007 (the “Subordinated Credit Agreement”) to add subsections (v) and (vi) to Section 8.18(a) of the Credit Agreement which subsections require FirstCity and all other members of the consolidated group to maintain, on a consolidated basis, a ratio a ratio of net cash flow to total interest and fee expense of not less than 5.00 to 1.00 for the four fiscal quarters then ended and a cash conversion rate of not less than 25% for the four fiscal quarters then ended. The foregoing description of Amendment No. 12 is qualified in its entirety by reference to the full text of Amendment No. 12 attached hereto as Exhibit 10.2 and is incorporated herein by this reference.

Amendment to FH Partners LLC Revolving Credit Agreement.

On July 14, 2008, FH Partners LLC, an indirect wholly-owned subsidiary of FirstCity, and Bank of Scotland, as agent for the lenders and as lender, entered into Amendment No. 6 dated July 14, 2008, which amended the Revolving Credit Agreement dated as of August 26, 2005 (the “FH Partners Credit Agreement”) to add subsections (v) and (vi) to Section 8.18A(a) of the Credit Agreement which subsections require FH Partners LLC to maintain a ratio a ratio of net collections to total interest and fee expense of not less than 7.00 to 1.00 for the four fiscal quarters then ended and a cash conversion rate of not less than 35% for the four fiscal quarters then ended. The foregoing description of Amendment No. 6 is qualified in its entirety by reference to the full text of Amendment No. 6 attached hereto as Exhibit 10.3 and is incorporated herein by this reference.

Nature of Material Relationship with Bank of Scotland.

FirstCity has had a significant relationship with Bank of Scotland and The Governor and The Company of the Bank of Scotland (“BoS-UK”) and their subsidiaries since September 1997. FirstCity and its wholly-owned subsidiaries have entered into loan agreements with Bank of Scotland, BoS(USA) Inc. and BoS-UK from time to time since 1997.

Since December 2002, the Bank of Scotland has provided to FirstCity and its subsidiaries a loan facility under a revolving credit loan facility consisting of (i) a revolving acquisition loan facility providing for a maximum principal balance of loans outstanding at any time of $45,000,000, and (ii) a revolving loan facility in the maximum principal amount of $5,000,000 for corporate purposes. This facility is secured by all of the assets of FirstCity and certain of its wholly-owned subsidiaries and is guaranteed by certain of the

wholly-owned subsidiaries. The outstanding balances under this facility were converted to loans under the revolving credit agreement between FirstCity and the Bank of Scotland dated November 12, 2004, which amended and restated the revolving loan facility and increased the loan facility to a maximum loan amount of $96,000,000. This revolving facility was most recently amended on August 22, 2007, to increase the maximum available commitment under the revolving credit facility from $175,000,000 to $225,000,000.

On August 26, 2005, FH Partners LLC and Bank of Scotland entered into the FH Partners Credit Agreement which provided a $50,000,000 revolving loan facility to be used to finance portfolio and asset purchases made by FH Partners LLC. The FH Partners Credit Agreement was amended on August 22, 2007, to increase the maximum loan amount under the revolving loan facility to $100,000,000. The FH Partners Credit Agreement is secured by all of the assets of FH Partners LLC. The obligations of FH Partners LLC under the FH Partners Credit Agreement are guaranteed by FirstCity and the primary wholly-owned subsidiaries of FirstCity.

On September 5, 2007, FirstCity and BoS(USA), Inc. entered into the Subordinated Credit Agreement which provides a $25,000,000 loan facility to FirstCity. This $25,000,000 loan facility can be used to finance equity investments in new ventures approved by BoS(USA) Inc. to be funded under the facility, the senior debt and equity portion of portfolio and asset purchases, to provide for the issuance of letters of credit and for working capital loans. The Subordinated Credit Agreement is secured by all of the assets of FirstCity and certain of its wholly-owned subsidiaries and is guaranteed by certain of the wholly-owned subsidiaries.

In December 2002, in connection with an exchange offer to the holders of FirstCity’s New Preferred Stock, BoS-UK provided a non-recourse loan in the amount of $16,000,000 to FirstCity, which was used to pay the cash portion of the exchange offer to the holders of the New Preferred Stock, to pay expenses of the exchange offer and recapitalization, and to reduce FirstCity’s debt to Bank of Scotland and BoS (USA) Inc. (the “Senior Lenders”). The $16,000,000 loan was secured by a 20% interest in Drive Financial Services LP (“Drive”) (64.51% of FirstCity’s remaining 31% interest in Drive) and other assets of FirstCity Consumer Corporation (“Consumer Corp.”) as were necessary and only to the extent to allow BoS-UK to realize the security interest in the 20% interest in Drive. In connection with the $16,000,000 loan, FirstCity agreed to pay a contingent fee to BoS-UK equal to 20% of all amounts received by FirstCity and Consumer Corp. upon any sale of the 20% interest in Drive or any receipt of distributions from Drive related to the 20% ownership interest, once such payments exceeded $16,000,000 in the aggregate. The outstanding principal and accrued interest of $16,003,947 under the $16,000,000 loan was paid in full on November 1, 2004, in connection with the sale of the 31% beneficial interest in Drive.

On November 1, 2004, FirstCity and certain of its subsidiaries completed the sale of a 31% beneficial ownership interest in Drive and its general partner, Drive GP LLC, to IFA Drive GP Holdings LLC (“IFA-GP”), IFA Drive LP Holdings LLC (“IFA-LP”) and Drive Management LP (“MG-LP”) for a total purchase price of $108,478,300 in cash, which resulted in distributions and payments to FirstCity and Consumer Corp. in the aggregate amount of $86,800,000 in cash, from various sources. As is noted above, the proceeds of the sale were used in part to pay indebtedness owed to the Senior Lenders and BoS-UK.

BoS(USA) Inc. has a warrant to purchase 425,000 shares of FirstCity’s voting Common Stock at $2.3125 per share, which is subject to adjustment in the number of shares in the event of certain changes in the Common Stock, grants of options or issuance of convertible securities by FirstCity or certain corporate changes or reorganizations. The warrant will expire on August 31, 2010, if it is not exercised prior to that date.

Section 9 – Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits.

10.1 Amendment No. 25 dated July 14, 2008 between FirstCity Financial Corporation and Bank of Scotland

10.2. Amendment No. 12 dated July 14, 2008 between FirstCity Financial Corporation and BoS(USA) Inc.

10.3 Amendment No. 6 dated July 14, 2008 between FH Partners LLC and Bank of Scotland

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.

	FIRSTCITY FINANCIAL CORPORATION


Date: July 18, 2008	By:	/s/ Richard J. Vander Woude
		Richard J. Vander Woude
		Senior Vice President, General Counsel and Secretary

Exhibit 10.1

AMENDMENT NO. 25

Amendment No. 25 to Revolving Credit Agreement (this “Amendment”), dated as of July 14, 2008, among FirstCity Financial Corporation (the “Borrower”); the financial institutions (each a “Lender” and collectively, the “Lenders”) party to that certain Revolving Credit Agreement, dated as of November 12, 2004 (as heretofore amended or otherwise modified, the “Loan Agreement”), among the Borrower, the Lenders and Bank of Scotland PLC acting through its New York branch, as Agent for the Lenders (the “Agent”).

W I T N E S S E T H :

WHEREAS, the Borrower has requested that the Lenders amend the Loan Agreement to add new subsections (v) and (vi) to Section 8.18(a) thereto; and

WHEREAS, the Lenders are willing to agree to the foregoing on and subject to the terms hereof.

NOW THEREFORE, it is agreed:

1. Definitions. All the capitalized terms used herein which are defined in the Loan Agreement shall have the same meanings when used herein unless otherwise defined in the recitals to this Amendment.

2. Effect of Amendment. As used in the Loan Agreement (including all Exhibits thereto), the Notes and the other Loan Documents and all other instruments and documents executed in connection with any of the foregoing, on and subsequent to the Amendment Closing Date, any reference to the Loan Agreement shall mean the Loan Agreement as amended hereby.

3. Representations and Agreements. To induce the Lenders to enter into this Amendment and to grant the consent contained herein, the Borrower hereby represents and warrants to the Lenders (which representations and warranties are made as of the date hereof and as of the Amendment Closing Date) and agrees for the benefit of the Lenders (which representations, warranties and agreements shall survive the execution, delivery and effectiveness of this Amendment), as follows:

(a) No Default or Event of Default exists.

(b) Each representation and warranty made by the Borrower in the Loan Documents is true and correct.

(c) The execution and delivery of this Amendment by the Borrower and the consummation of the transactions contemplated herein have been duly authorized by all necessary corporate action.

(d) This Amendment is the legal, valid and binding obligation of the Borrower, enforceable in accordance with its terms subject, as to enforceability, to applicable

bankruptcy, insolvency, reorganization and similar laws affecting the enforcement of creditors’ rights generally and to general principles of equity (regardless of whether such enforcement is considered in a proceeding in equity or at law).

(e) No Material Adverse Change has occurred since November 12, 2004.

4. Requests. Borrower hereby requests that the Lenders agree to an amendment of the Loan Agreement to add new Section 8.18(a)(v) and (vi) thereto.

5. Amendment. In reliance upon the representations, warranties and agreements set forth herein, as of the date hereof, the Loan Agreement is hereby amended as follows:

(a) Annex I. Annex I to the Agreement is amended by inserting the following new definitions in appropriate alphabetical order therein:

“Average RAL NPEV” shall mean, for any period, the sum of the Borrower’s NPEV reported on the twelve most recent monthly Borrowing Base Certificates (irrespective of any Borrowing Base Certificate delivered in connection with a Notice of Borrowing) delivered by the Borrower pursuant to this Agreement, divided by twelve.

“Cash Conversion Rate” shall mean, for any period, the ratio obtained by dividing Gross Cash Collections by Average RAL NPEV for such period.

“Gross Cash Collections” shall mean, for any period, the amount of gross cash collections set forth in the Waterfall Certificate delivered by the Borrower for such period.

“Net Cash Flow” shall mean, for any period, the amount of Gross Cash Collections less Total Operating Expenses in such period.

“Subordinated Credit Agreement “ shall mean the Subordinated Delayed Draw Credit Agreement dated as of September 5, 2007 among Borrower, the financial institutions party thereto and BoS (USA) Inc., as agent, as the same has been and may be amended, extended, restated, supplemented or otherwise modified.

“Total Interest and Fee Expense” shall mean, for any period, total interest and fees payable during such period by the Borrower under this Agreement and under the Subordinated Credit Agreement.

“Total Operating Expenses” shall mean, for any period, the sum of all cash expenses during such period of the Borrower, FC Servicing and FC Crestone, determined in accordance with GAAP and as reflected on the financial statements of each such entity.

(b) Section 8.18(a). Section 8.18(a) of the Agreement is amended by adding thereto new subsections (v) and (vi) to read in their entirety as follows:

(v) maintain a ratio of Net Cash Flow to Total Interest and Fee Expense of not less than 5.00 to 1.00 for the four fiscal quarters then ended;

(vi) maintain a Cash Conversion Rate of not less than 25% for the four fiscal quarters then ended;

6. Effectiveness. This Amendment shall become effective as of the date hereof when each of the following conditions (the first date on which all such conditions have been so satisfied (or so waived) is herein referred to as the “Amendment Closing Date”) has been fulfilled to the satisfaction of the Agent (or waived by the Agent in its sole discretion):

(a) the Borrower, the Lenders and the Agent shall have executed a copy hereof, and delivered the foregoing to the Agent at 1095 Avenue of the Americas, New York, New York 10036 (Attention: Loans Administration);

(b) on the Amendment Closing Date, both before and after giving effect to the transactions contemplated by this Amendment to be effective on the Amendment Closing Date, no Material Adverse Change shall have occurred since November 12, 2004;

(c) no Default or Event of Default shall exist;

(d) each representation and warranty made by the Borrower in the Loan Agreement and the other Loan Documents shall be true and correct in all material respects as of the Amendment Closing Date with the same effect as though made at and as of such date (except for those that specifically speak as of a prior date); and

(e) each of the Guarantors shall have executed a confirming consent, substantially in the form attached hereto as Annex A or otherwise satisfactory to the Agent, and delivered the same to the Agent at 1095 Avenue of the Americas, New York, New York 10036 (Attention: Loans Administration) or such other place directed by the Agent.

7. Ratification and Release. The Borrower does hereby remise, release and forever discharge the Agent and the Lenders and each of their respective affiliates, successors, officers, directors, employees, counsel and agents, past and present, and each of them, of and from any and all manner of actions, and causes of action, suits, debts, dues, accounts, bonds, covenants, contracts, agreements, judgments, claims and demands whatsoever in law or in equity, which against the Agent, the Lenders or any of their respective affiliates, successors, officers, directors, employees, counsel or agents, or any one or more of them, the Borrower ever had, now has, or hereafter can, shall or may have for or by reason of any cause, matter or thing that occurred or did not occur on or prior to the Amendment Closing Date with respect to the Loan Agreement, this Amendment or any Security Document or other Loan Document, any previous version hereof or thereof or any proposed amendment or waiver hereof or thereof.

8. Limited Nature of Amendments and Waivers. The amendments and waivers set forth herein are limited precisely as written and shall not be deemed to prejudice any right or rights which the Agent or the Lenders may now have or may have in the future under or in connection with the Loan Agreement or any of the other Loan Documents. Except as expressly consented to herein, the terms and provisions of the Loan Agreement and all other Loan Documents remain in full force and effect.

9. THIS AMENDMENT SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK WITHOUT

REFERENCE TO CHOICE OF LAW DOCTRINE THAT WOULD RESULT IN THE APPLICATION OF THE LAWS OF ANOTHER JURISDICTION.

10. THIS AMENDMENT AND THE OTHER LOAN DOCUMENTS REPRESENT THE FINAL AGREEMENT AMONG THE PARTIES HERETO WITH RESPECT TO THE MATTERS COVERED HEREBY AND THEREBY AND MAY NOT BE CONTRADICTED BY EVIDENCE OF PRIOR, CONTEMPORANEOUS OR SUBSEQUENT ORAL AGREEMENTS OF THE PARTIES.

THERE ARE NO UNWRITTEN ORAL AGREEMENTS BETWEEN THE PARTIES.

11. Counterparts. This Amendment may be executed in any number of counterparts by the different parties hereto on separate counterparts, each of which when so executed and delivered shall be an original, but all the counterparts shall together constitute one and the same instrument. Telecopied signatures hereto shall be of the same force and effect as an original of a manually signed copy.

12. Headings. The descriptive headings of the various provisions of this Amendment are for convenience of reference only and shall not be deemed to affect the meaning or construction of any of the provisions hereof.

IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be duly executed and delivered by their respective duly authorized officers as of the date first shown.

	BANK OF SCOTLAND PLC, acting through its New York branch, as Agent and as a Lender


	By:
		Name:
		Title:


	FIRSTCITY FINANCIAL CORPORATION


	By:
		Name: James C. Holmes
		Title: Senior Vice President

[Signature Page to Amendment No. 25]

Annex A

CONFIRMING CONSENT

Reference is hereby made to the foregoing Amendment No. 25 (the “Amendment”) to the Revolving Credit Agreement dated as of July 14, 2008 among the Borrower, the Lenders and the Agent (said agreement, as from time to time amended or otherwise modified, the “Agreement”).

Each Guarantor hereby consents to the terms and provisions of the Amendment and confirms and acknowledges that:

(a) its obligations under the Loan Documents to which it is a party remain in full force and effect; and

(b) its consent and acknowledgement hereunder is not required under the terms of such Loan Documents and any failure to obtain its consent or acknowledgment in connection herewith or with any subsequent consent, waiver or amendment to the Agreement or any of the other Loan Documents will not affect the validity of its obligations under the aforesaid Loan Documents or any other Loan Document, and this consent and acknowledgement is being delivered for purposes of form only.

Capitalized terms used herein and not otherwise defined have the same meanings as in the Agreement. This Consent is dated as of the Amendment Closing Date (as defined in the Amendment).

FIRSTCITY COMMERCIAL CORPORATION

By:
	Name: James C. Holmes
	Title: Executive Vice President

FC CAPITAL CORP.

By:
	Name: James C. Holmes
	Title: Executive Vice President

FIRSTCITY CONSUMER LENDING CORPORATION

By:
	Name: James C. Holmes
	Title: Executive Vice President

FIRSTCITY EUROPE CORPORATION

By:
	Name: James C. Holmes
	Title: Executive Vice President

FIRSTCITY HOLDINGS CORPORATION OF MINNESOTA

By:
	Name: James C. Holmes
	Title: Executive Vice President

FIRSTCITY INTERNATIONAL CORPORATION

By:
	Name: James C. Holmes
	Title: Executive Vice President

FIRSTCITY MEXICO, INC.

By:
	Name: James C. Holmes
	Title: Executive Vice President

FIRSTCITY SERVICING CORPORATION

By:
	Name: James C. Holmes
	Title: Executive Vice President

BOSQUE ASSET CORP.

By:
	Name: James C. Holmes
	Title: Executive Vice President

BOSQUE LEASING, L.P.

By:
	Name: James C. Holmes
	Title: Executive Vice President

[Signature Page to Confirming Consent to Amendment No. 25]

Exhibit 10.2

AMENDMENT NO. 12

Amendment No. 12 to Subordinated Delayed Draw Credit Agreement (this “Amendment”), dated as of July 14, 2008, among FirstCity Financial Corporation (the “Borrower”); the financial institutions (each a “Lender” and collectively, the “Lenders”) party to that certain Subordinated Delayed Draw Credit Agreement, dated as of September 5, 2007 (as heretofore amended or otherwise modified, the “Loan Agreement”), among the Borrower, the Lenders and BoS(USA) Inc., as Agent for the Lenders (the “Agent”).

W I T N E S S E T H :

WHEREAS, the Borrower has requested that the Lenders amend the Loan Agreement to add new Section 8.18(a)(v) and (vi) thereto; and

WHEREAS, the Lenders are willing to consent to the foregoing on and subject to the terms hereof.

NOW THEREFORE, it is agreed:

1. Definitions. All the capitalized terms used herein which are defined in the Loan Agreement shall have the same meanings when used herein unless otherwise defined in the recitals to this Amendment.

2. Effect of Amendment. As used in the Loan Agreement (including all Exhibits thereto), the Notes and the other Loan Documents and all other instruments and documents executed in connection with any of the foregoing, on and subsequent to the Amendment Closing Date, any reference to the Loan Agreement shall mean the Loan Agreement as amended hereby.

3. Representations and Agreements. To induce the Lenders to enter into this Amendment and to grant the consent contained herein, the Borrower hereby represents and warrants to the Lenders (which representations and warranties are made as of the date hereof and as of the Amendment Closing Date) and agrees for the benefit of the Lenders (which representations, warranties and agreements shall survive the execution, delivery and effectiveness of this Amendment), as follows:

(a) No Default or Event of Default exists.

(b) Each representation and warranty made by the Borrower in the Loan Documents is true and correct.

(c) The execution and delivery of this Amendment by the Borrower and the consummation of the transactions contemplated herein have been duly authorized by all necessary corporate action.

(d) This Amendment is the legal, valid and binding obligation of the Borrower, enforceable in accordance with its terms subject, as to enforceability, to applicable

bankruptcy, insolvency, reorganization and similar laws affecting the enforcement of creditors’ rights generally and to general principles of equity (regardless of whether such enforcement is considered in a proceeding in equity or at law).

(e) No Material Adverse Change has occurred since September 5, 2007.

4. Requests. Borrower hereby requests that the Lenders agree to an amendment of the Loan Agreement to add new Section 8.18(a)(v) and (vi) thereto.

5. Amendment. In reliance upon the representations, warranties and agreements set forth herein, as of the date hereof, the Loan Agreement is hereby amended as follows:

(a) Annex I. Annex I to the Agreement is amended by inserting the following new definitions in appropriate alphabetical order therein:

“Cash Conversion Rate” shall mean, for any period, the ratio obtained by dividing Gross Cash Collections by Average RAL NPEV for such period.

“Gross Cash Collections” shall mean, for any period, the amount of gross cash collections set forth in the Waterfall Certificate delivered by the Borrower for such period.

“Net Cash Flow” shall mean, for any period, the amount of Gross Cash Collections less Total Operating Expenses in such period.

“Total Interest and Fee Expense” shall mean, for any period, total interest and fees payable during such period by the Borrower under this Agreement and under the RAL.

(b) Section 8.18(a). Section 8.18(a) of the Agreement is amended by adding thereto new subsections (v) and (vi) to read in their entirety as follows:

(v) maintain a ratio of Net Cash Flow to Total Interest and Fee Expense of not less than 5.00 to 1.00 for the four fiscal quarters then ended;

(vi) maintain a Cash Conversion Rate of not less than 25% for the four fiscal quarters then ended;

6. Effectiveness. This Amendment shall become effective as of the date hereof when each of the following conditions (the first date on which all such conditions have been so

satisfied (or so waived) is herein referred to as the “Amendment Closing Date”) has been fulfilled to the satisfaction of the Agent (or waived by the Agent in its sole discretion):

(a) the Borrower, the Lenders and the Agent shall have executed a copy hereof, and delivered the foregoing to the Agent at 1095 Avenue of the Americas, New York, New York 10036 (Attention: Loan Documentation);

(b) on the Amendment Closing Date, both before and after giving effect to the transactions contemplated by this Amendment to be effective on the Amendment Closing Date, no Material Adverse Change shall have occurred since September 5, 2007;

(c) no Default or Event of Default shall exist;

(d) each representation and warranty made by the Borrower in the Loan Agreement and the other Loan Documents shall be true and correct in all material respects as of the Amendment Closing Date with the same effect as though made at and as of such date (except for those that specifically speak as of a prior date); and

(e) each of the Guarantors shall have executed a confirming consent, substantially in the form attached hereto as Annex A or otherwise satisfactory to the Agent, and delivered the same to the Agent at 1095 Avenue of the Americas, New York, New York 10036 (Attention: Loans Administration) or such other place directed by the Agent.

7. Ratification and Release. The Borrower does hereby remise, release and forever discharge the Agent and the Lenders and each of their respective affiliates, successors, officers, directors, employees, counsel and agents, past and present, and each of them, of and from any and all manner of actions, and causes of action, suits, debts, dues, accounts, bonds, covenants, contracts, agreements, judgments, claims and demands whatsoever in law or in equity, which against the Agent, the Lenders or any of their respective affiliates, successors, officers, directors, employees, counsel or agents, or any one or more of them, the Borrower ever had, now has, or hereafter can, shall or may have for or by reason of any cause, matter or thing that occurred or did not occur on or prior to the Amendment Closing Date with respect to the Loan Agreement, this Amendment or any Security Document or other Loan Document, any previous version hereof or thereof or any proposed amendment or waiver hereof or thereof. ‘

8. Limited Nature of Amendments and Waivers. The amendments and waivers set forth herein are limited precisely as written and shall not be deemed to prejudice any right or rights which the Agent or the Lenders may now have or may have in the future under or in connection with the Loan Agreement or any of the other Loan Documents. Except as expressly consented to herein, the terms and provisions of the Loan Agreement and all other Loan Documents remain in full force and effect.

9. THIS AMENDMENT SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK WITHOUT REFERENCE TO CHOICE OF LAW DOCTRINE THAT WOULD RESULT IN THE APPLICATION OF THE LAWS OF ANOTHER JURISDICTION.

10. THIS AMENDMENT AND THE OTHER LOAN DOCUMENTS REPRESENT THE FINAL AGREEMENT AMONG THE PARTIES HERETO WITH RESPECT TO THE

IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be duly executed and delivered by their respective duly authorized officers as of the date first shown.

	BOS(USA) INC., as Agent and as a Lender


	By:
		Name:
		Title:


	FIRSTCITY FINANCIAL CORPORATION


	By:
		Name: James C. Holmes
		Title: Senior Vice President

[Signature Page to Amendment No. 12]

Annex A

CONFIRMING CONSENT

Reference is hereby made to the foregoing Amendment No. 12 (the “Amendment”) to the Subordinated Delayed Draw Credit Agreement dated as of July 14, 2008 among the Borrower, the Lenders and the Agent (said agreement, as from time to time amended or otherwise modified, the “Agreement”).

Each Guarantor hereby consents to the terms and provisions of the Amendment and confirms and acknowledges that:

(a) its obligations under the Loan Documents to which it is a party remain in full force and effect; and

(b) its consent and acknowledgement hereunder is not required under the terms of such Loan Documents and any failure to obtain its consent or acknowledgment in connection herewith or with any subsequent consent, waiver or amendment to the Agreement or any of the other Loan Documents will not affect the validity of its obligations under the aforesaid Loan Documents or any other Loan Document, and this consent and acknowledgement is being delivered for purposes of form only.

Capitalized terms used herein and not otherwise defined have the same meanings as in the Agreement. This Consent is dated as of the Amendment Closing Date (as defined in the Amendment).

FIRSTCITY COMMERCIAL CORPORATION

By:
	Name: James C. Holmes
	Title: Executive Vice President

FC CAPITAL CORP.

By:
	Name: James C. Holmes
	Title: Executive Vice President

FIRSTCITY CONSUMER LENDING CORPORATION

By:
	Name: James C. Holmes
	Title: Executive Vice President

FIRSTCITY EUROPE CORPORATION

By:
	Name: James C. Holmes
	Title: Executive Vice President

FIRSTCITY HOLDINGS CORPORATION

By:
	Name: James C. Holmes
	Title: Executive Vice President

FIRSTCITY INTERNATIONAL CORPORATION

By:
	Name: James C. Holmes
	Title: Executive Vice President

FIRSTCITY MEXICO, INC.

By:
	Name: James C. Holmes
	Title: Executive Vice President

FIRSTCITY SERVICING CORPORATION

By:
	Name: James C. Holmes
	Title: Executive Vice President

BOSQUE ASSET CORP.

By:
	Name: James C. Holmes
	Title: Executive Vice President

[Signature Page to Confirming Consent to Amendment No. 12]

BOSQUE LEASING, L.P.

By:
	Name: James C. Holmes
	Title: Executive Vice President

BOSQUE LEASING GP CORP.

By:
	Name: James C. Holmes
	Title: Executive Vice President

[Signature Page to Confirming Consent to Amendment No. 12]

Exhibit 10.3

AMENDMENT NO. 6

Amendment No. 6 (this “Amendment”), dated as of July 14, 2008, among FH Partners LLC, a Texas limited liability company (the “Borrower”), the financial institutions (each a “Lender” and collectively, the “Lenders”) party to that certain Revolving Credit Agreement, dated as of August 26, 2005 (as heretofore amended or otherwise modified, the “Loan Agreement”), among the Borrower, the Lenders and Bank of Scotland plc, as Agent for the Lenders (the “Agent”).

W I T N E S S E T H :

WHEREAS, the Borrower has requested that the Lenders amend the Loan Agreement to add new Section 8A (a)(v) and (vi) thereto; and

WHEREAS, the Lenders are willing to consent to the foregoing on and subject to the terms hereof.

NOW THEREFORE, it is agreed:

1. Definitions. All the capitalized terms used herein which are defined in the Loan Agreement shall have the same meanings when used herein unless otherwise defined in the recitals to this Amendment.

2. Effect of Amendment. As used in the Loan Agreement (including all Exhibits thereto), the Notes and the other Loan Documents and all other instruments and documents executed in connection with any of the foregoing, on and subsequent to the Amendment Closing Date, any reference to the Loan Agreement shall mean the Loan Agreement as amended hereby.

3. Representations and Agreements. To induce the Lenders to enter into this Amendment and to grant the consent contained herein, the Borrower hereby represents and warrants to the Lenders (which representations and warranties are made as of the date hereof and as of the Amendment Closing Date) and agrees for the benefit of the Lenders (which representations, warranties and agreements shall survive the execution, delivery and effectiveness of this Amendment), as follows:

(a) No Default or Event of Default exists.

(b) Each representation and warranty made by the Borrower in the Loan Documents is true and correct.

(c) The execution and delivery of this Amendment by the Borrower and the consummation of the transactions contemplated herein have been duly authorized by all necessary corporate action.

(d) This Amendment is the legal, valid and binding obligation of the Borrower, enforceable in accordance with its terms subject, as to enforceability, to applicable

bankruptcy, insolvency, reorganization and similar laws affecting the enforcement of creditors’ rights generally and to general principles of equity (regardless of whether such enforcement is considered in a proceeding in equity or at law).

(e) No Material Adverse Change has occurred since August 26, 2005.

4. Requests. Borrower hereby requests that the Lenders agree to an amendment of the Loan Agreement to add new Section 8A(a)(iv) and (v) thereto.

5. Amendment. In reliance upon the representations, warranties and agreements set forth herein, as of the date hereof, the Loan Agreement is hereby amended as follows:

(a) Annex I. Annex I to the Agreement is amended by inserting the following new definitions in appropriate alphabetical order therein:

“Average Net Present Value” shall mean, for any period, the sum of the Net Present Value of all of the Borrower’s Asset Pools reported on the twelve most recent monthly Borrowing Base Certificates (irrespective of any Borrowing Base Certificate delivered in connection with a Notice of Borrowing) delivered by the Borrower pursuant to this Agreement, divided by twelve.

“Cash Conversion Rate” shall mean, for any period, the ratio obtained by dividing Net Collections by Average Net Present Value for such period.

“Total Interest and Fee Expense” shall mean, for any period, total interest and fees payable during such period by the Borrower under this Agreement.

(b) Section 8A. Section 8A(a) of the Agreement is amended by adding thereto new subsections (v) and (vi) to read in their entirety as follows:

(v) maintain a ratio of Net Collections to Total Interest and Fee Expense of not less than 7.00 to 1.00 for the four fiscal quarters then ended;

(vi) maintain a Cash Conversion Rate of not less than 35% for the four fiscal quarters then ended;

6. Effectiveness. This Amendment shall become effective as of the date hereof when each of the following conditions (the first date on which all such conditions have been so satisfied (or so waived) is herein referred to as the “Amendment Closing Date”) has been fulfilled to the satisfaction of the Agent (or waived by the Agent in its sole discretion):

(a) the Borrower, the Lenders and the Agent shall have executed a copy hereof, and delivered the foregoing to the Agent at 1095 Avenue of the Americas, New York, New York 10036 (Attention: Loan Documentation);

(b) on the Amendment Closing Date, both before and after giving effect to the transactions contemplated by this Amendment to be effective on the Amendment Closing Date, no Material Adverse Change shall have occurred since August 26, 2005;

(c) no Default or Event of Default shall exist;

(d) each representation and warranty made by the Borrower in the Loan Agreement and the other Loan Documents shall be true and correct in all material respects as of the Amendment Closing Date with the same effect as though made at and as of such date (except for those that specifically speak as of a prior date); and

(e) each of the Guarantors shall have executed a confirming consent, substantially in the form attached hereto as Annex A or otherwise satisfactory to the Agent, and delivered the same to the Agent at 1095 Avenue of the Americas, New York, New York 10036 (Attention: Loans Administration) or such other place directed by the Agent.

7. Ratification and Release. The Borrower does hereby remise, release and forever discharge the Agent and the Lenders and each of their respective affiliates, successors, officers, directors, employees, counsel and agents, past and present, and each of them, of and from any and all manner of actions, and causes of action, suits, debts, dues, accounts, bonds, covenants, contracts, agreements, judgments, claims and demands whatsoever in law or in equity, which against the Agent, the Lenders or any of their respective affiliates, successors, officers, directors, employees, counsel or agents, or any one or more of them, the Borrower ever had, now has, or hereafter can, shall or may have for or by reason of any cause, matter or thing that occurred or did not occur on or prior to the Amendment Closing Date with respect to the Loan Agreement, this Amendment or any Security Document or other Loan Document, any previous version hereof or thereof or any proposed amendment or waiver hereof or thereof. ‘

8. Limited Nature of Amendments and Waivers. The amendments and waivers set forth herein are limited precisely as written and shall not be deemed to prejudice any right or rights which the Agent or the Lenders may now have or may have in the future under or in connection with the Loan Agreement or any of the other Loan Documents. Except as expressly consented to herein, the terms and provisions of the Loan Agreement and all other Loan Documents remain in full force and effect.

9. THIS AMENDMENT SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK WITHOUT REFERENCE TO CHOICE OF LAW DOCTRINE THAT WOULD RESULT IN THE APPLICATION OF THE LAWS OF ANOTHER JURISDICTION.

10. THIS AMENDMENT AND THE OTHER LOAN DOCUMENTS REPRESENT THE FINAL AGREEMENT AMONG THE PARTIES HERETO WITH RESPECT TO THE MATTERS COVERED HEREBY AND THEREBY AND MAY NOT BE CONTRADICTED BY EVIDENCE OF PRIOR, CONTEMPORANEOUS OR SUBSEQUENT ORAL AGREEMENTS OF THE PARTIES.

THERE ARE NO UNWRITTEN ORAL AGREEMENTS BETWEEN THE PARTIES.

11. Counterparts. This Amendment may be executed in any number of counterparts by the different parties hereto on separate counterparts, each of which when so executed and delivered shall be an original, but all the counterparts shall together constitute one and the same instrument. Telecopied signatures hereto shall be of the same force and effect as an original of a manually signed copy.

12. Headings. The descriptive headings of the various provisions of this Amendment are for convenience of reference only and shall not be deemed to affect the meaning or construction of any of the provisions hereof.

IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be duly executed and delivered by their respective duly authorized officers as of the date first shown.

BANK OF SCOTLAND PLC, as Agent and as a
Lender


By:
	Name:
	Title:


FH PARTNERS LLC


By:
		Name: James C. Holmes
		Title: Executive Vice President

[Signature Page to Amendment No. 6]

Annex A

CONFIRMING CONSENT

Reference is hereby made to the foregoing Amendment No. 6 (the “Amendment”) to the Revolving Credit Agreement dated as of July 14, 2008 among the Borrower, the Lenders and the Agent (said agreement, as from time to time amended or otherwise modified, the “Agreement”).

Each Guarantor hereby consents to the terms and provisions of the Amendment and confirms and acknowledges that:

(a) its obligations under the Loan Documents to which it is a party remain in full force and effect; and

(b) its consent and acknowledgement hereunder is not required under the terms of such Loan Documents and any failure to obtain its consent or acknowledgment in connection herewith or with any subsequent consent, waiver or amendment to the Agreement or any of the other Loan Documents will not affect the validity of its obligations under the aforesaid Loan Documents or any other Loan Document, and this consent and acknowledgement is being delivered for purposes of form only.

Capitalized terms used herein and not otherwise defined have the same meanings as in the Agreement. This Consent is dated as of the Amendment Closing Date (as defined in the Amendment).

FIRSTCITY FINANCIAL CORPORATION

By:
	Name: James C. Holmes
	Title: Senior Vice President

FIRSTCITY COMMERCIAL CORPORATION

By:
		Name: James C. Holmes
		Title: Executive Vice President

FIRSTCITY EUROPE CORPORATION

By:
			Name: James C. Holmes
			Title: Executive Vice President

FIRSTCITY HOLDINGS CORPORATION

By:
	Name: James C. Holmes
	Title: Executive Vice President

FIRSTCITY INTERNATIONAL CORPORATION

By:
		Name: James C. Holmes
		Title: Executive Vice President

FIRSTCITY MEXICO, INC.

By:
		Name: James C. Holmes
		Title: Executive Vice President

FIRSTCITY SERVICING CORPORATION

By:
			Name: James C. Holmes
			Title: Executive Vice President

[Signature Page to Confirming Consent to Amendment No. 6]