SECURITIES AND EXCHANGE COMMISSION

                             WASHINGTON, D.C. 20549

                                  FORM 8-K / A

                                 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 10, 2003


                              MEGO FINANCIAL CORP.
                   -------------------------------------------
             (EXACT NAME OF REGISTRANT AS SPECIFIED IN ITS CHARTER)

              NEW YORK                    1-8645               13-5629885
           (STATE OR OTHER             (COMMISSION            (IRS EMPLOYER
           JURISDICTION OF             FILE NUMBER)          IDENTIFICATION NO.)
              FORMATION)


                   2280 CORPORATE CIRCLE, HENDERSON, NV 89074
               (ADDRESS OF PRINCIPAL EXECUTIVE OFFICES) (ZIP CODE)

        REGISTRANT'S TELEPHONE NUMBER, INCLUDING AREA CODE (702) 992-3001







ITEM 3:  BANKRUPTCY OR RECEIVERSHIP

On July 9, 2003,  Mego Financial  Corp.,  doing  business as Leisure  Industries
Corporation of America, (the "Company") filed a voluntary petition under Chapter
11 of the United  States  Bankruptcy  Code  ("Chapter  11") in the United States
Bankruptcy  Court for the District of Nevada ("the Court") in Reno. The case has
been  designated as Case No.  BKN03-52300  (the "Chapter 11 Case").  The Company
expects to present its plan for Debtor in  Possession  financing to the court by
the end of the week.

ITEM 5:  OTHER EVENTS AND REGULATION FD DISCLOSURES

The Chairman of the Board of Directors,  Floyd W. Kephart, resigned his position
as chairman and director effective June 30, 2003.

FORWARD LOOKING STATEMENTS

This Form 8-K may contain "forward-looking statements" within the meaning of the
Private  Securities   Litigation  Reform  Act  of  1995.  Such   forward-looking
statements involve known and unknown risks, uncertainties or other factors which
may cause actual  results,  performance or  achievements  of Leisure  Industries
(Mego Financial) to be materially different from any future results, performance
or achievements expressed or implied by such forward-looking statements. Factors
that might cause such a  difference,  include,  but are not  limited  to,  those
discussed in the Management's Discussion and Analysis of Financial Condition and
Results of  Operations in Mego  Financial's  Annual Report on Form 10-KT for the
year  ended  December  31,  2001,  and in the Form  10-Q for the  quarter  ended
September 30, 2002, and subsequent  documents filed by Mego Financial Corp. with
the Securities and Exchange Commission.

                                   SIGNATURES


Pursuant to the requirements of the Securities Exchange Act of 1934, the Company
has duly caused this report to be signed on its behalf by the undersigned
hereunto duly authorized.


                                            MEGO FINANCIAL CORP.


                                            By:  / s / Michael H. Greco
                                            -----------------------------------
                                            Michael H. Greco
                                            CEO and President

Dated:  July 10, 2003