-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
Originator-Key-Asymmetric:
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 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 AWEItpb2DNCymfzfQfGF2o0R1qUptSzca9BrrwTHtt4/wfhi1u6qx1Nq9rp8V0xJ
 BWCh4X03nlf5TNMqmZNt1w==

<SEC-DOCUMENT>0001209191-10-059950.txt : 20101213
<SEC-HEADER>0001209191-10-059950.hdr.sgml : 20101213
<ACCEPTANCE-DATETIME>20101213163328
ACCESSION NUMBER:		0001209191-10-059950
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20101209
FILED AS OF DATE:		20101213
DATE AS OF CHANGE:		20101213

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:			SARTAIN JAMES T
		CENTRAL INDEX KEY:			0001237802

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	033-19694
		FILM NUMBER:		101248314

	MAIL ADDRESS:	
		STREET 1:		6400 IMPERIAL DRIVE
		CITY:			WACO
		STATE:			TX
		ZIP:			76712
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>doc4.xml
<DESCRIPTION>FORM 4 SUBMISSION
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0303</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2010-12-09</periodOfReport>

    <notSubjectToSection16>0</notSubjectToSection16>

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

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001237802</rptOwnerCik>
            <rptOwnerName>SARTAIN JAMES T</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>6400 IMPERIAL DRIVE</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>WACO</rptOwnerCity>
            <rptOwnerState>TX</rptOwnerState>
            <rptOwnerZipCode>76712</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>1</isDirector>
            <isOfficer>1</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle>President and CEO</officerTitle>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <transactionDate>
                <value>2010-12-09</value>
            </transactionDate>
            <deemedExecutionDate></deemedExecutionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>G</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionTimeliness>
                <value></value>
            </transactionTimeliness>
            <transactionAmounts>
                <transactionShares>
                    <value>5000</value>
                    <footnoteId id="F1"/>
                </transactionShares>
                <transactionPricePerShare>
                    <value>0.00</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>D</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>560703</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
        <nonDerivativeHolding>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>10100</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>By Son</value>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeHolding>
    </nonDerivativeTable>

    <footnotes>
        <footnote id="F1">Bona fide gift to an educational institution.</footnote>
    </footnotes>

    <remarks></remarks>

    <ownerSignature>
        <signatureName>J. Bryan Baker,
Attorney-in-fact for James T. Sartain</signatureName>
        <signatureDate>2010-12-13</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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