FirstPlus Financial Group's stock fell more than 30% Monday on a downgrade and rumors that the company is having trouble finding a buyer.

The shares fell $7.8125 in heavy trading, to close at $15.0625.

Late in the afternoon Merrill Lynch & Co. downgraded the company to "neutral" from "buy."

GE Capital Corp., long said to be interested in buying FirstPlus, may pass on a deal, sources said. Bank One Corp., another potential buyer, is also said to have declined to make an offer.

FirstPlus, which makes debt consolidation loans to homeowners, said this month that it was pursuing strategic alliances to help it raise capital.

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