SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 10-K/A
ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
For the fiscal year ended December 31, 1996
Purpose: To supplement in part Part IV, Item 14(c) of Company's
previously filed Form 10-K in order to file as an exhibit
the Annual Servicing Report of Company's Independent
Public Accountants.
Commission File Nos. 333-6047
HOUSEHOLD CONSUMER LOAN TRUST 1996-2
(Exact name of Registrant as specified in Department
of the Treasury, Internal Revenue Service Form SS-4)
HOUSEHOLD FINANCE CORPORATION
(Administrator of the Trust)
(Exact name as specified in Administrator's charter)
DELAWARE 36-3670374
(State or other jurisdiction of (I.R.S. Employer Identification
incorporation 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>
SIGNATURES
Pursuant to the requirements of Section 13 or 15(d) of the
Securities Exchange Act of 1934, the Administrator has duly caused
this amendment to be signed on behalf of the Household Consumer
Loan Trust 1996-2 by the undersigned, thereunto duly authorized.
HOUSEHOLD FINANCE CORPORATION,
as Administrator of and on behalf of the
HOUSEHOLD CONSUMER LOAN TRUST 1996-2
(Registrant)
Date: May 9, 1997 By:/s/John W. Blenke
John W. Blenke
Assistant Secretary
<PAGE>
Exhibit Index
Exhibit No. Exhibit Page
No.
99 Copy of Independent Public Accountants 4
Annual Servicing Report dated March 26, 1997.
Independent Accountants' Report on Applying Agreed-Upon Procedures
To Household Finance Corporation:
We have performed procedures enumerated below in items A. and B. in
conjunction with Section 3.06 of the Pooling and Servicing
Agreement, dated September 1, 1995, as supplemented (the
"Agreement").
We have audited, in accordance with generally accepted auditing
standards, the consolidated financial statements of Household
Finance Corporation (the "Servicer") and subsidiaries as of
December 31, 1996, and have issued our report thereon dated January
23, 1997. We have not audited any financial statements of the
Servicer as of any date or for any period subsequent to December
31, 1996, or performed any audit procedures subsequent to the date
of our report on those statements.
In connection with our audit, nothing came to our attention that
caused us to believe that the Servicer was not in compliance with
any of the terms, covenants, provisions, or conditions in Sections
3.01, 3.02, 3.04, 3.09, 3.10, 4.02, 4.03, 4.04, and 8.08 (to the
extent such sections are applicable to Household Finance
Corporation as Servicer) of the Agreement, or Sections 3, 4.08,
4.09, 4.11, and 4.12, (to the extent such sections are applicable
to Household Finance Corporation as Servicer) of the Series 1995-1,
Series 1996-1, and Series 1996-2 Supplements in conjunction with
the servicing of revolving unsecured consumer lines of credit owned
by the Household Consumer Loan Deposit Trust I insofar as they
relate to accounting matters. It should be noted, however, that
our audit was not directed primarily toward obtaining knowledge of
such noncompliance.
As a part of our audit, we obtained an understanding of the
Servicer's internal control structure over the Servicer's entire
revolving unsecured consumer lines of credit portfolio, including
those loans serviced under the Agreement, and the related
Supplements, to the extent considered necessary in order to assess
control risk as required by generally accepted auditing standards.
The purpose of our consideration of the internal control structure,
which includes the accounting systems, was to determine the nature,
timing, and extent of the auditing procedures necessary for
expressing an opinion on the financial statements. Such audit
procedures, however, were not performed in order to express a
separate opinion on the Household Consumer Loan Deposit Trust I.
Our audit disclosed no exceptions or errors in records relating to
revolving unsecured consumer lines of credit serviced by the
Servicer that, in our opinion, Section 3.06 of the Agreement
required us to report.
B. We have performed the procedure described in the following
paragraph, which was agreed to by the management of the Servicer,
and the Texas Commerce Bank as Trustee (together, the "Specified
Users"), with respect to Section 3.06 of the Agreement, in
conjunction with the servicing of revolving unsecured consumer
lines of credit owned by the Household Consumer Loan Deposit Trust
I. This agreed-upon procedure was performed in accordance with
standards established by the American Institute of Certified Public
Accountants. The sufficiency of the procedure is solely the
responsibility of the Specified Users of the report. Consequently,
we make no representation regarding the sufficiency of the
procedure described below either for the purpose for which this
report has been requested or for any other purpose.
The procedure and associated findings are as follows:
From the Monthly Servicer's Certificates prepared by the
Servicer between January, 1996 and December, 1996, we selected the
following months and performed the following:
We have compared the mathematical calculation of each amount set
forth in the Monthly Servicer's Certificates to the Servicer's
computer reports for the months of October, 1996, and December,
1996, for Series 1995-1, Series 1996-1, and Series 1996-2 and found
them to be in agreement. Our comparisons were based on records
provided to us by the Servicer and the methodology set forth in the
Agreement.
With respect to the procedure performed in item B. above, we were
not engaged to, and did not, perform an audit, the objective of
which would be the expression of an opinion on the Monthly
Servicer's Certificates described above. Accordingly, we do not
express such an opinion. Had we been engaged to perform additional
procedures, other matters might have come to our attention that
would have been reported to you.
This report is intended solely for the information and use of the
Specified Users and should not be used for any other purpose.
Chicago Illinois
March 26, 1997
