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Previous: WORLD OMNI 1996-A AUTOMOBILE LEASE SECURITIZATION TRUST /DE, 8-K, 1996-07-31 |
Next: EINSTEIN BROS BAGELS INC, S-1/A, 1996-07-31 |
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 July 12, 1996
HOUSEHOLD CONSUMER LOAN TRUST 1996-1
(Exact name of registrant as specified in its charter)
HOUSEHOLD FINANCE CORPORATION
(Administrator of the Trust)
(Exact name as specified in Administrator's charter)
To Be
Delaware 333-992 Applied For
(State or other juris- (Commission File Numbers) (IRS Employer
diction of incorpora- Identification
tion of Administrator) Number of
Registrant)
2700 Sanders Road, Prospect Heights, Illinois 60070
(Address of principal executive offices of (Zip Code)
Administrator)
Administrator's telephone number, including area code 847/564-5000
<PAGE>
Item 7. FINANCIAL STATEMENTS AND EXHIBITS
(c) Exhibits
99 Statement to Series 1996-1 Participants with respect to the
distribution on July 12, 1996 as provided for under Article V
of the Pooling and Servicing Agreement dated as of March 1,
1996 among Household Finance Corporation, as Servicer and The
Chase Manhattan Bank, N.A., as Deposit Trustee and Section 5
of the Series 1996-1 Supplement to the Pooling and Servicing
Agreement, (b) Noteholders with respect to the Payment Date on
July 15, 1996 as provided for under Section 3.23 of the
Indenture dated as of March 1, 1996 between Household Consumer
Loan Trust 1996-1 and The Bank of New York, as Indenture
Trustee, and (c) Certificateholders with respect to the
Payment Date on July 15, 1996 as provided for under Section
5.04 of the Trust Agreement dated as of March 1, 1996 between
Household Consumer Loan Corporation and The Chase Manhattan
Bank (USA), as Owner Trustee.
-2-
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Administrator has duly caused this report to be signed on behalf of the
undersigned hereunto duly authorized.
HOUSEHOLD FINANCE CORPORATION,
as Administrator of and on behalf of the
HOUSEHOLD CONSUMER LOAN TRUST 1996-1
(Registrant)
By: /s/ S. E. Casey
S. E. Casey
Assistant Secretary
Dated: July 25, 1996
-3-<PAGE>
EXHIBIT INDEX
Exhibit
Number Exhibit Page
5
99 Statement to Series 1996-1 Participants with respect to the
distribution on July 12, 1996 as provided for under Article V
of the Pooling and Servicing Agreement dated as of March 1,
1996 among Household Finance Corporation, as Servicer and The
Chase Manhattan Bank, N.A., as Deposit Trustee and Section 5
of the Series 1996-1 Supplement to the Pooling and Servicing
Agreement, (b) Noteholders with respect to the Payment Date on
July 15, 1996 as provided for under Section 3.23 of the
Indenture dated as of March 1, 1996 between Household Consumer
Loan Trust 1996-1 and The Bank of New York, as Indenture
Trustee, and (c) Certificateholders with respect to the
Payment Date on July 15, 1996 as provided for under Section
5.04 of the Trust Agreement dated as of March 1, 1996 between
Household Consumer Loan Corporation and The Chase Manhattan
Bank (USA), as Owner Trustee.
U:\WP\HFS088\8K\HCLT96-1.8K
-4-<PAGE>
Household Finance Corporation
Household Consumer Loan Corporation
Household Consumer Loan Trust Series 1996-1
No. of PMTs Since Issuance:
4
Distribution Date:
12-Jul-96
Payment Date:
15-Jul-96
Collection Period Beginning:
01-Jun-96
Collection Period Ending:
30-Jun-96
Note and Certificate Accrual Beginning:
17-Jun-96
Note and Certificate Accrual Ending:
15-Jul-96
BOND SUMMARY:
Beginning Class A Note Security Balance
$593,335,974.42
Beginning Class B Note Security Balance
$136,244,640.00
Beginning Certificate Security Balance
$25,455,360.00
Beginning Overcollateralization Amount
$40,415,606.70
Beginning Class A Adjusted Balance
$593,335,974.42
Beginning Class B Adjusted Balance
$136,244,640.00
Beginning Certficate Adjusted Balance
$25,455,360.00
Beginning Overcollateralization Amount
$40,415,606.70
Ending Class A Note Security Balance
$578,852,126.88
Ending Class B Note Security Balance
$136,244,640.00
Ending Certificate Security Balance
$25,455,360.00
Ending Overcollateralization Amount
$40,581,325.78
Ending Class A Adjusted Balance
$578,852,126.88
Ending Class B Adjusted Balance
$136,244,640.00
Ending Certficate Adjusted Balance
$25,455,360.00
Ending Overcollateralization Amount
$40,581,325.78
Class A Note Rate Capped at 13%
5.716090%
Class B Note Rate Capped at 15%
6.096090%
Certificate Rate Capped at 16%
6.496090%
Class A Interest Due
$2,637,881.42
Class B Interest Due
$645,990.79
Certificate Yield Due
$128,613.57
Class A Interest Paid
$2,637,881.42
Class B Interest Paid
$645,990.79
Class C Yield Paid
$128,613.57
Class A Unpaid Interest
$0.00
Class B Unpaid Interest
$0.00
Class C Unpaid Yield
$0.00
Class A Principal Paid
$14,483,847.54
Class B Principal Paid
$0.00
Class C Principal Paid
$0.00
OC Principal Paid
$0.00
Beginning Class A Net Charge-Off
$0.00
Beginning Class B Net Charge-Off
$0.00
Beginning Certificate Net Charge-Off
$0.00
Beginning OC Net Charge-Off
$0.00
Reversals Allocated to Class A
$0.00
Reversals Allocated to Class B
$0.00
Reversals Allocated to Certificates
$0.00
Reversals Allocated to OC plus Acclerated Principal Payments
$165,719.08
Total Charge-Offs:
$0.00
Charge-Offs Allocated to Class A
$0.00
Charge-Offs Allocated to Class B
$0.00
Charge-Offs Allocated to Certificates
$0.00
Charge-Offs Allocated to OC
$0.00
Ending Class A Net Charge-Off
$0.00
Ending Class B Net Charge-Off
$0.00
Ending Certificate Net Charge-Off
$0.00
Ending OC Net Charge-Off
$0.00
Bond Balance Reconciliation (should equal $0.00)
$0.00
Certificate Balance/Participation Invested Amount (Beginning of
Month) 3.2001%
Designated Certificate / Certificate Security (Balance Beginning of
Month) 1.003168%
Designated Certificate - Beginning of Month
$255,360.00
Principal Payments in Respect of Designated Certificate (Sec. 3.05
(iii) & (vi)(c)) $0.00
Designated Certificate - End of Month
$255,360.00
Interest Payments in Respect of Designated Certificate (Sec. 3.05
(i)(c)) $1,290.21
Designated Certificateholder Accelerated Principal Payments -
Beginning Balance $515,606.70
Accelerated Principal Payment (Sec. 3.05 (v))
$165,719.08
Payments to Holder of Designated Certificate in respect to Acc.
Prin. (Sec. 3.05 (iv) & (vi)(d) $0.00
Designated Certificateholder Accelerated Principal Payments -
Ending Balance $681,325.78
Designated Certificateholder Holdback Amount (Beginning of Month)
$39,900,000.00
Payments to Designated Certificates in Reduction of Holdback Amount
(Sec. 3.05 (iv) & (vi)(d)) $0.00
Designated Certificateholder Holdback Amount (End of Month)
$39,900,000.00
Remaining Payments to Designated Certificates (Sec. 3.05 paragraph
following (vii)) $0.00
Remaining Amounts to Issuer (Sec. 3.05 (vii))
$150,474.42
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