-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 W0KCXVxmmQM9Kiv68Yb/lB8dy6wujbTOARoEWuzK7SjM4EuTDmVNJK/d4RWICtHv
 5JbXSLuW95Q/W4YYS0d3wA==

<SEC-DOCUMENT>0001209191-07-064653.txt : 20071116
<SEC-HEADER>0001209191-07-064653.hdr.sgml : 20071116
<ACCEPTANCE-DATETIME>20071116162417
ACCESSION NUMBER:		0001209191-07-064653
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20071112
FILED AS OF DATE:		20071116
DATE AS OF CHANGE:		20071116

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			FIRSTCITY FINANCIAL CORP
		CENTRAL INDEX KEY:			0000828678
		STANDARD INDUSTRIAL CLASSIFICATION:	SHORT-TERM BUSINESS CREDIT INSTITUTIONS [6153]
		IRS NUMBER:				760243729
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		6400 IMPERIAL DRIVE
		CITY:			WACO
		STATE:			TX
		ZIP:			76712
		BUSINESS PHONE:		2547511750

	MAIL ADDRESS:	
		STREET 1:		6400 IMPERIAL DRIVE
		CITY:			WACO
		STATE:			TX
		ZIP:			76712

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	FIRST CITY BANCORPORATION OF TEXAS INC/
		DATE OF NAME CHANGE:	19920703

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	FIRST CITY ACQUISITION CORP
		DATE OF NAME CHANGE:	19880523

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			GARRISON ROBERT E II
		CENTRAL INDEX KEY:			0001013961

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	033-19694
		FILM NUMBER:		071253517

	BUSINESS ADDRESS:	
		BUSINESS PHONE:		7136295771

	MAIL ADDRESS:	
		STREET 1:		C/O PINNACLE GLOBAL GROUP
		STREET 2:		5599 SAN FELIPE #301
		CITY:			HOUSTON
		STATE:			TX
		ZIP:			77056
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>doc4.xml
<DESCRIPTION>FORM 4 SUBMISSION
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0202</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2007-11-12</periodOfReport>

    <notSubjectToSection16>0</notSubjectToSection16>

    <issuer>
        <issuerCik>0000828678</issuerCik>
        <issuerName>FIRSTCITY FINANCIAL CORP</issuerName>
        <issuerTradingSymbol>FCFC</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001013961</rptOwnerCik>
            <rptOwnerName>GARRISON ROBERT E II</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>600 TRAVIS</rptOwnerStreet1>
            <rptOwnerStreet2>SUITE 3100</rptOwnerStreet2>
            <rptOwnerCity>HOUSTON</rptOwnerCity>
            <rptOwnerState>TX</rptOwnerState>
            <rptOwnerZipCode>77002</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>1</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
        </reportingOwnerRelationship>
    </reportingOwner>

    <derivativeTable>
        <derivativeTransaction>
            <securityTitle>
                <value>Option to Aquire Common Stock</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>8.04</value>
            </conversionOrExercisePrice>
            <transactionDate>
                <value>2007-11-12</value>
            </transactionDate>
            <deemedExecutionDate></deemedExecutionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>A</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionTimeliness>
                <value></value>
            </transactionTimeliness>
            <transactionAmounts>
                <transactionShares>
                    <value>5000</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>0.00</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <exerciseDate>
                <value>2007-11-12</value>
                <footnoteId id="F1"/>
            </exerciseDate>
            <expirationDate>
                <value>2017-11-12</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>5000</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>5000</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeTransaction>
    </derivativeTable>

    <footnotes>
        <footnote id="F1">The options vest as follows:

  25% on November 12, 2007;
  25% on February 12, 2008;
  25% on May 12, 2008; and
  25% on August 12, 2008.</footnote>
    </footnotes>

    <remarks></remarks>

    <ownerSignature>
        <signatureName>Richard J. Vander Woude,
Attorney-in-fact for Robert E. Garrison, II</signatureName>
        <signatureDate>2007-11-16</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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