8-K

                       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                                      OCTOBER 26, 2001
    (Date of earliest event reported)                   OCTOBER 19, 2001


                           SURETY CAPITAL CORPORATION
             (Exact name of Registrant as specified in its charter)


                                    DELAWARE
                 (State or other jurisdiction of incorporation)


             001-12818                               72-2065607
    (Commission File Number)            (I.R.S. Employer Identification Number)



 1501 SUMMIT AVENUE, FORT WORTH, TEXAS                      76102
(Address of principal executive offices)                  (Zip Code)



                                 (817) 335-5955
              (Registrant's telephone number, including area code)



ITEM 4. CHANGE IN REGISTRANT'S CERTIFYING ACCOUNTANT.

     On October 19, 2001, Surety Capital Corporation (the "Registrant") was
notified that Fisk & Robinson, P.C. ("Fisk & Robinson"), the Registrant's
independent accounting firm, had merged with McGladrey & Pullen, LLP
("McGladrey") and that the accounting firm of Fisk & Robinson would no longer
exist. Therefore, Fisk & Robinson could no longer serve as the independent
auditor for the Registrant. The Registrant's board of directors has approved
Weaver and Tidwell, LLP, in Forth Worth, Texas to replace Fisk & Robinson and
serve as the Registrant's independent auditor on an ongoing basis.

     During the two fiscal years ended December 31, 2000, and the interim period
of January 1, 2001 through the date of this report, there were no disagreements
with Fisk & Robinson on any matter of accounting principles or practices,
financial statement disclosure, or auditing scope or procedure.

     Additionally, the auditor's reports from Fisk & Robinson for the
Registrant's two fiscal years ended December 31, 2000 and 1999 did not contain
an adverse opinion or a disclaimer of opinion, and the reports were not
qualified or modified as to uncertainty, audit scope or accounting principles.
In connection with the audits of the Registrant's consolidated financial
statements for the two fiscal years ended December 31, 2000 and 1999:

     (a)  Fisk & Robinson did not advise the Registrant that the internal
          controls necessary for the Registrant to develop reliable financial
          statements do not exist;

     (b)  Fisk & Robinson did not advise the Registrant that information had
          come to the attention of Fisk & Robinson that had led it to no longer
          be able to rely on the Registrant's management representations, or
          that had made Fisk & Robinson unwilling to be associated with the
          financial statements prepared by the Registrant's management; and

     (c)  Fisk & Robinson did not advise the Registrant that Fisk & Robinson
          would need to expand significantly the scope of its audit, or that
          information had come to the attention of Fisk & Robinson during such
          time period that if further investigated may:

          (i)  materially impact the fairness or reliability of either a
               previously issued audit report or the underlying financial
               statements, or the financial statements issued or to be issued
               covering the fiscal period subsequent to the date of the most
               recent financial statements covered by an audit report (including
               information that may prevent it from rendering an unqualified
               audit report on those financial statements); or

          (ii) cause Fisk & Robinson to be unwilling to rely on the Registrant's
               management representations or to be associated with the
               Registrant's consolidated financial statements.

     The Registrant has engaged Weaver and Tidwell, LLP, of Fort Worth, Texas
as the independent accounting firm that will audit the consolidated financial
statements of the Registrant, for the fiscal year ended December 31, 2001.
During the Registrant's fiscal years ended December 31, 2000 and 1999 and the
subsequent period prior to engaging Weaver and Tidwell, LLP, the Registrant (or
anyone on its behalf) did not consult Weaver and Tidwell, LLP regarding:

          (i)  either the application of accounting principles to a specified
               transaction, either completed or proposed; or the type of audit
               opinion that might be rendered on the Registrant's financial
               statements; and as such no written report was provided to the
               Registrant and no oral advice was provided that the new
               accountant concluded was an important factor considered by the
               Registrant in reaching a decision as to any accounting, auditing
               or financial reporting issue, or

          (ii) any matter that was either the subject of disagreement or a
               reportable event.


ITEM 7.  FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND EXHIBITS

         (a)      Financial Statements of Business Acquired.

                  None.

         (b)      Pro Forma Financial Information.

                  None.

         (c)      Exhibits.

                  16.1  Letter from Fisk & Robinson, P.C. regarding change in
                        accountants






                                       2

                                   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.



                                   SURETY CAPITAL CORPORATION



Dated: October 24, 2001            By: /s/ Richard N. Abrams
                                       -----------------------------------
                                           Richard N. Abrams
                                           Chairman







                                       3

EX-16.1

                                                                    Exhibit 16.1



October 19, 2001



Securities and Exchange Commission
Washington, D.C.  20549


Gentlemen:

We were previously the independent accountants for Surety Capital Corporation
(Commission File Number 001-12818), and on March 2, 2001 we reported on the
consolidated financial statements of Surety Capital Corporation as of and for
the two years ended December 31, 2000. On October 12, 2001, we informed Surety
Capital Corporation that our partners and employees had merged with McGladrey &
Pullen, LLP and we would no longer be the independent auditor for Surety Capital
Corporation. We have read the Surety Capital Corporation statements included
under Item 4 of its Form 8-K dated October 19, 2001, and we agree with such
statements.




Fisk & Robinson, P.C.
Dallas, Texas
October 19, 2001