FORM 8-K
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934
Date of Report: May 14, 1998
HOUSEHOLD CONSUMER LOAN TRUST 1997-1
------------------------------------
(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 333-20147 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
-------------
Exhibit Index appears on page 3
<PAGE>
Item 7. FINANCIAL STATEMENTS AND EXHIBITS
(c) Exhibits
--------
99 Statement to Series 1997-1 Participants with respect to the
distribution on May 14, 1998 as provided for under Article V
of the Pooling and Servicing Agreement dated as of September 1,
1995 among Household Finance Corporation, as Servicer and The Chase
Manhattan Bank, N.A., as Deposit Trustee and Section 5 of the
Series 1997-1 Supplement to the Pooling and Servicing Agreement,
(b) Noteholders with respect to the Payment Date on May 15, 1998 as
provided for under Section 3.23 of the Indenture dated as of March
1, 1997 between Household Consumer Loan Trust 1997-1 and The Bank
of New York, as Indenture Trustee, and (c) Certificateholders with
respect to the Payment Date on May 15, 1998 as provided for under
Section 5.04 of the Trust Agreement dated as of March 1, 1997
between Household Consumer Loan Corporation and The Chase Manhattan
Bank Delaware, as Owner Trustee.
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 1997-1
----------------------------------------
(Registrant)
By: /s/ J. W. Blenke
-----------------------------------
J. W. Blenke
Authorized Representative
Dated: May 26, 1998
----------------------
- 2 - <PAGE>
EXHIBIT INDEX
Exhibit
Number Exhibit Page
- ------- ------- ----
5
99
Statement to Series 1997-1 Participants with respect to the
distribution on May 14, 1998 as provided for under Article V of the
Pooling and Servicing Agreement dated as of September 1, 1995 among
Household Finance Corporation, as Servicer and The Chase Manhattan
Bank, N.A., as Deposit Trustee and Section 5 of the Series 1997-1
Supplement to the Pooling and Servicing Agreement, (b) Noteholders
with respect to the Payment Date on May 15, 1998 as provided for
under Section 3.23 of the Indenture dated as of March 1, 1997
between Household Consumer Loan Trust 1997-1 and The Bank of New
York, as Indenture Trustee, and (c) Certificateholders with respect
to the Payment Date on May 15, 1998 as provided for under Section
5.04 of the Trust Agreement dated as of March 1, 1997 between
Household Consumer Loan Corporation and The Chase Manhattan Bank
Delaware, as Owner Trustee.
U:\WP\HFS088\8K\HCLT97-1.8K
- 3 -
Household Consumer Loan Deposit Trust
Collateral Report
Number of Due Periods Since Inception 31
Due Period 01-Apr-98
Distribution Date 14-May-98
Payment Date 15-May-98
*** Trust Portfolio Summary ***
Annualized Cash Yield 19.24%
Annualized Gross Losses -9.50%
Annualized Portfolio Yield 9.75%
Contractual Delinquency Status of Credit Lines: (Principal / Principal)
30 - 59 days ($) 206399211.09
30 - 59 days (%) 5.24%
60 - 89 days ($) 77258718.14
60 - 89 days (%) 1.96%
90 - 119 days ($) 51388787.3
90 - 119 days (%) 1.31%
120 - 149 days ($) 42988014.47
120 - 149 days (%) 1.09%
150 - 179 days ($) 40474829.09
150 - 179 days (%) 1.03%
180 - 209 days ($) 37857097.76
180 - 209 days (%) 0.96%
210 - 239 days ($) 38447098.41
210 - 239 days (%) 0.98%
240 - 269 days ($) 35636171.24
240 - 269 days (%) 0.91%
270 - 299 days ($) 33317115.17
270 - 299 days (%) 0.85%
300+ days ($) 5202384.3
300+ days (%) 0.13%
Additional Balances on Existing Credit Lines (draws-prin only) 55,386,907.00
Principal Collections 126,369,899.04
Defaulted Receivables 31,971,823.30
Finance Charge & Administrative Collections 63,758,495.56
Recoveries 1,022,287.00
Average Principal Balance 4,039,605,630.73
Personal Homeowner Lines as % of Total Principal 29.61%
<PAGE>
Household Finance Corporation
Household Consumer Loan Corporation
Household Consumer Loan Trust Series 1997-1
No. of PMTs Since Issuance: 14
Distribution Date: 14-May-98
Payment Date: 15-May-98
Collection Period Beginning: 01-Apr-98
Collection Period Ending: 30-Apr-98
Note and Certificate Accrual Beginning: 15-Apr-98
Note and Certificate Accrual Ending: 15-May-98
PAYMENT CALCULATIONS:
OC Balance as % of Beginning Participation Invested Amount 6.61%
OC Balance as % of Ending Participation Invested Amount 6.80%
OC Balance as % of Ending Participation Invested Amount (3 month avg 6.42%
Does Early Amortization Start Based on OC/Part. Invstd. Amt. Test 0.00
Is the MAP Over? 0.00
Is this the Early Amortization Period? 0.00
Interest Allocation Percentage Calculation:
Numerator 716,440,585.29
Denominator-Component(x)-Aggregate Receivables & Part Int 4,039,605,630.73
Denominator - Component (y) - Aggregate Numerators 3,954,774,055.98
Applicable Interest Allocation Percentage 17.74%
Principal Allocation Percentage Calculation:
Numerator 716,440,585.29
Denominator-Component(x)-Aggregate Receivables & Part Int 4,039,605,630.73
Denominator - Component (y) - Aggregate Numerators 3,957,720,251.54
Applicable Principal Allocation Percentage 17.74%
Default Allocation Percentage Calculation:
Numerator 716,440,585.29
Denominator-Component(x)-Aggregate Receivables & Part Int 4,039,605,630.73
Denominator - Component (y) - Aggregate Numerators 3,954,774,055.98
Default Allocation Percentage (Floating Allocation Percentage) 17.74%
Minimum Principal Amount Calculation:
2.2% of Participation Invested Amount 15,761,692.88
Series Participation Interest Default Amount (Sec.4.11(a)(iii)) 5,670,333.66
Excess of (i)2.2% of Part Inv Amt over (ii)Series Part Interest 10,091,359.21
Minimum Principal Amount 10,091,359.21
Investor Principal Collections 12,589,124.04
Investor Finance Charge and Admin. Collections (4.11a) 11,489,136.82
Investor Allocated Defaulted Amounts 5,670,333.66
DEPOSIT TRUST CALCULATIONS
Beginning Participation Unpaid Principal Balance 716,440,585.29
Beginning Participation Invested Amount 716,440,585.29
Ending Participation Unpaid Principal Balance 698,181,127.58
Ending Participation Invested Amount 698,181,127.58
Beginning Participation Unpaid Principal Balance x (PRIME-1.50%) 4,179,236.75
Note Interest and Cert Yield Amounts Due Pursuant to Sec. 3.05 3,284,669.07
Participation Invested Amt x 75bps per annum prior to 4/98, 25bps 149,258.46
Participation Interest Distribution Amount 4,179,236.75
Application of Investor Finance Charges & Administrative Collections:
Investor Finance Charge and Admin. Collections (4.11a) 11,489,136.82
Servicing Fee if HFC is not the Servicer (Sec. 4.11 (a)(i) 0.00
Series Participation Interest Monthly Interest (Sec.4.11(a)(ii)) 4,179,236.75
Series Participation Interest Default Amount (Sec.4.11(a)(iii)) 5,670,333.66
Reimbursed Series Particpation Interest Charge-Offs (Sec.4.11(a)(i 0.00
Servicing Fee if HFC is the Servicer (Sec. 4.11 (a)(v)) 1,194,067.64
Excess (Sec. 4.11 (a)(vi)) 445,498.76
Reconciliation Check 0.00
Series Participation Interest Monthly Principal 18,259,457.71
Beginning Unreimbursed Participation Interest Charge-Offs 0.00
Series Participation Interest Charge-Offs (Sec. 4.12 (a)) 0.00
Reimbursed Series Particpation Interest Charge-Offs (Sec. 4.11 (a)(i 0.00
Ending Unreimbursed Participation Interest Charge-Offs 0.00
Available Investor Principal Collections 18,259,457.71
Participation Interest Distribution Amount 4,179,236.75
Series Participation Interest Charge-Offs 0.00
OWNER TRUST CALCULATIONS
Note Interest and Cert Yield Amounts Due Pursuant to Sec. 3.05 3,284,669.07
Excess Interest 894,567.68
Beginning Net Charge-Offs 0.00
Reversals 0.00
+Available Investor Principal Collections 18,259,457.71
+Series Participation Interest Charge Offs 0.00
+ Lesser of Excess Interest and Carryover Charge Offs 0.00
Optimum Monthly Principal 18,259,457.71
Are the Notes Retired ? 0.00
Accelerated Principal Payment 149,258.46
Beginning Class A-1 Security Balance 479,498,012.53
Beginning Class A-2 Security Balance 48,000,000.00
Beginning Class A-3 Security Balance 62,400,000.00
Beginning Class B Security Balance 45,600,000.00
Beginning Certificate Security Balance 33,600,000.00
Beginning Overcollateralization Amount plus APP 47,491,831.22
Beginning Class A-1 Adjusted Balance 479,498,012.53
Beginning Class A-2 Adjusted Balance 48,000,000.00
Beginning Class A-3 Adjusted Balance 62,400,000.00
Beginning Class B Adjusted Balance 45,600,000.00
Beginning Certficate Adjusted Balance 33,600,000.00
Beginning Overcollateralization Amount plus APP 47,491,831.22
Class A-1 Bal After Payment pursuant to clause in Sec3.05(a)(ii 461,238,554.82
Class A-2 Bal After Payment pursuant to clause in Sec3.05(a)(ii 48,000,000.00
Class A-3 Bal After Payment pursuant to clause in Sec3.05(a)(ii 62,400,000.00
Class B Bal After Payment pursuant to clause in Sec3.05(a)(ii)( 45,600,000.00
Certificate Bal After Paymt pursuant to clause in Sec.3.05(a)( 33,600,000.00
Class A-2 Minimum Adjusted Principal Balance 16,000,000.00
Class A-3 Minimum Adjusted Principal Balance 20,800,000.00
Class B Minimum Adjusted Principal Balance 15,200,000.00
Certificate Minimum Adjusted Principal Balance 11,200,000.00
Minimum Overcollateralization Amount 13,600,000.00
Certificate Minimum Balance Target 7,052,327.57
Scheduled Certificate Payment to Certificate Minimum Bal Target 26,547,672.43
Class A-1 Targeted Balance 363,054,186.34
Class A-2 Targeted Balance (28,366,255.72)
Class A-3 Targeted Balance 14,397,290.87
Class B Targeted Balance 18,324,497.99
Certificate Targeted Balance 21,597,176.92
Class A-1: Payment Required to get to Target 116,443,826.19
Class A-2: Payment Required to get to Target or Minimum Adj Bal 32,000,000.00
Class A-3: Payment Required to get to Target or Minimum Adj Bal 41,600,000.00
Class B: Payment Required to get to Target or Minimum Adj Bal 27,275,502.01
Certificate: Payment Required to get to Target or Min Adj Bal 12,002,823.08
OC: Payment to get to Minimum Overcollateralization Amount 33,891,831.22
Section 3.05 Payment of Principal and Interest; Defaulted Interest 0.00
Pay Certificate Yield in step (ii) (1= Yes) 1.00
Remittances on the Participation 22,438,694.46
Interest and Yield
(i) Pay Class A-1 Interest Distribution - Sec. 3.05 (a)(i)(a) 2,310,081.57
Pay Class A-2 Interest Distribution - Sec. 3.05 (a)(i)(b) 236,250.00
Pay Class A-3 Interest Distribution - Sec. 3.05 (a)(i)(c) 312,325.00
Pay Class B Interest Distribution - Sec. 3.05 (a)(i)(d) 239,637.50
Pay Certificates the Certificate Yield - Sec. 3.05 (a)(i)(e) 186,375.00
Principal up to Optimum Monthly Principal
(ii)Pay Class A-1 to Targeted Principal Balance - Sec.3.05(a)(ii 18,259,457.71
Pay Class A-2 to Targeted Principal Balance - Sec.3.05(a)(i 0.00
Pay Class A-3 to Targeted Principal Balance - Sec.3.05(a)(i 0.00
Pay Class B to Targeted Principal Balance - Sec. 3.05 (a)(ii) 0.00
ONLY Pay Certificate Yield if not paid pursuant to Sec. 3.05 ( 0.00
Principal up to Optimal Monthly Principal
(iii)Pay Certificate to Targeted Principal Balance - Sec.3.05(a) 0.00
(iv) Pay OC Remaining Optimal Monthly Principal Amount - Sec. 3.05 ( 0.00
Principal up to the Accelerated Principal Payment Amount
(v) Pay Class A-1 to Targeted Principal Balance - Sec.3.05(a)(v)( 149,258.46
Pay Class A-2 to Targeted Principal Balance - Sec. 3.05 (a)(v 0.00
Pay Class A-3 to Targeted Principal Balance - Sec. 3.05 (a)(v 0.00
Pay Class B to Targeted Principal Balance - Sec. 3.05 (a)(v)( 0.00
Pay Class A-1 to zero - Sec. 3.05 (a)(v)(e) 0.00
Pay Class A-2 to zero - Sec. 3.05 (a)(v)(f) 0.00
Pay Class A-3 to zero - Sec. 3.05 (a)(v)(g) 0.00
Pay Class B to zero - Sec. 3.05 (a)(v)(h) 0.00
Principal up to Optimal Monthly Principal
(vi) Pay Class A-1 to zero - Sec. 3.05 (a)(vi)(a) 0.00
Pay Class A-2 to zero - Sec. 3.05 (a)(vi)(b) 0.00
Pay Class A-3 to zero - Sec. 3.05 (a)(vi)(c) 0.00
Pay Class B to zero - Sec. 3.05 (a)(vi)(d) 0.00
Pay Certificates up to Certificate Min. Bal. or zero - Sec. 3 0.00
Pay HCLC Optimum Monthly Principal provided OC > zero - Sec. 0.00
(vii) Remaining Amounts to HCLC - Sec. 3.05 (a)(vii) 745,309.22
Total Reconciliation Check 0.00
Accelerated Principal Reconciliation 0.00
Optimum Monthly Principal Reconciliation 0.00
BOND SUMMARY:
Beginning Class A-1 Note Security Balance 479,498,012.53
Beginning Class A-2 Note Security Balance 48,000,000.00
Beginning Class A-3 Note Security Balance 62,400,000.00
Beginning Class B Note Security Balance 45,600,000.00
Beginning Certificate Security Balance 33,600,000.00
Beginning Overcollateralization Amount 47,342,572.76
Beginning Class A-1 Adjusted Balance 479,498,012.53
Beginning Class A-2 Adjusted Balance 48,000,000.00
Beginning Class A-3 Adjusted Balance 62,400,000.00
Beginning Class B Adjusted Balance 45,600,000.00
Beginning Certficate Adjusted Balance 33,600,000.00
Beginning Overcollateralization Amount 47,342,572.76
Ending Class A-1 Note Security Balance 461,089,296.36
Ending Class A-2 Note Security Balance 48,000,000.00
Ending Class A-3 Note Security Balance 62,400,000.00
Ending Class B Note Security Balance 45,600,000.00
Ending Certificate Security Balance 33,600,000.00
Ending Overcollateralization Amount 47,491,831.22
Ending Class A-1 Adjusted Balance 461,089,296.36
Ending Class A-2 Adjusted Balance 48,000,000.00
Ending Class A-3 Adjusted Balance 62,400,000.00
Ending Class B Adjusted Balance 45,600,000.00
Ending Certficate Adjusted Balance 33,600,000.00
Ending Overcollateralization Amount 47,491,831.22
Class A-1 Note Rate Capped at 12.5% 5.781250%
Class A-2 Note Rate Capped at 14.0% 5.906250%
Class A-3 Note Rate Capped at 14.0% 6.006250%
Class B Note Rate Capped at 14.0% 6.306250%
Certificate Rate Capped at 15.0% 6.656250%
Class A-1 Interest Due 2,310,081.57
Class A-2 Interest Due 236,250.00
Class A-3 Interest Due 312,325.00
Class B Interest Due 239,637.50
Certificate Yield Due 186,375.00
Class A-1 Interest Paid 2,310,081.57
Class A-2 Interest Paid 236,250.00
Class A-3 Interest Paid 312,325.00
Class B Interest Paid 239,637.50
Certificate Yield Paid 186,375.00
Class A-1 Unpaid Interest 0.00
Class A-2 Unpaid Interest 0.00
Class A-3 Unpaid Interest 0.00
Class B Unpaid Interest 0.00
Certificate Unpaid Yield 0.00
Class A-1 Principal Paid 18,408,716.17
Class A-2 Principal Paid 0.00
Class A-3 Principal Paid 0.00
Class B Principal Paid 0.00
Certificate Principal Paid 0.00
OC Principal Paid 0.00
Beginning Class A-1 Net Charge-Off 0.00
Beginning Class A-2 Net Charge-Off 0.00
Beginning Class A-3 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-1 0.00
Reversals Allocated to Class A-2 0.00
Reversals Allocated to Class A-3 0.00
Reversals Allocated to Class B 0.00
Reversals Allocated to Certificates 0.00
Reversals Allocated to OC plus Acclerated Principal Payments 149,258.46
Total Charge-Offs: 0.00
Charge-Offs Allocated to Class A-1 0.00
Charge-Offs Allocated to Class A-2 0.00
Charge-Offs Allocated to Class A-3 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-1 Net Charge-Off 0.00
Ending Class A-2 Net Charge-Off 0.00
Ending Class A-3 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 (Begin of Month) 4.690%
Designated Certificate / Certificate Security (Balance Begin of Month) 1.000%
Designated Certificate - Beginning of Month 336,000.00
Principal Payments in Respect of Designated Certificate (Sec.3.05( 0.00
Designated Certificate - End of Month 336,000.00
Yield Payments in Respect of Designated Certificate (Sec.3.05(a)(i) 1,863.75
Designated Certificateholder Accelerated Principal Payments-Begin 6,542,572.76
Accelerated Principal Payment (Sec. 3.05 (v)) 149,258.46
Payments to Holder of Designated Certificate in respect to Acc Prin 0.00
Designated Certificateholder Accelerated Principal Paymts-Ending 6,691,831.22
Designated Certificateholder Holdback Amount (Begin of Month) 40,800,000.00
Payments to Designated Certificates in Reduction of Holdback Amount ( 0.00
Designated Certificateholder Holdback Amount (End of Month) 40,800,000.00
Remaining Payments to Designated Certificates (Sec. 3.05 paragraph fo 0.00
Remaining Amounts to Issuer (Sec. 3.05 (vii)) 745,309.22
MONTHLY SECURITY REPORT
Ending Pool Principal Balance 3,936,835,915.91
Series 1997-1 Participation Invested Amount 698,181,127.58
Seller Amount 82,906,397.67
Remittances on the Participation 22,438,694.46
Optimum Monthly Principal 18,259,457.71
Accelerated Principal Payment 149,258.46
Beginning Class A-1 Note Security Balance 479,498,012.53
Beginning Class A-2 Note Security Balance 48,000,000.00
Beginning Class A-3 Note Security Balance 62,400,000.00
Beginning Class B Note Security Balance 45,600,000.00
Beginning Certificate Security Balance 33,600,000.00
Beginning Overcollateralization Amount 47,342,572.76
Beginning Class A-1 Adjusted Balance 479,498,012.53
Beginning Class A-2 Adjusted Balance 48,000,000.00
Beginning Class A-3 Adjusted Balance 62,400,000.00
Beginning Class B Adjusted Balance 45,600,000.00
Beginning Certificate Adjusted Balance 33,600,000.00
Beginning Overcollateralization Amount 47,342,572.76
Ending Class A-1 Note Security Balance 461,089,296.36
Ending Class A-2 Note Security Balance 48,000,000.00
Ending Class A-3 Note Security Balance 62,400,000.00
Ending Class B Note Security Balance 45,600,000.00
Ending Certificate Security Balance 33,600,000.00
Ending Overcollateralization Amount 47,491,831.22
Ending Class A-1 Adjusted Balance 461,089,296.36
Ending Class A-2 Adjusted Balance 48,000,000.00
Ending Class A-3 Adjusted Balance 62,400,000.00
Ending Class B Adjusted Balance 45,600,000.00
Ending Certificate Adjusted Balance 33,600,000.00
Ending Overcollateralization Amount 47,491,831.22
Class A-1 Note Rate Capped at 12.5% 5.781250%
Class A-2 Note Rate Capped at 14.0% 5.906250%
Class A-3 Note Rate Capped at 14.0% 6.006250%
Class B Note Rate Capped at 14.0% 6.306250%
Certificate Rate Capped at 15.0% 6.656250%
Class A-1 Interest Due 2,310,081.57
Class A-2 Interest Due 236,250.00
Class A-3 Interest Due 312,325.00
Class B Interest Due 239,637.50
Certificate Yield Due 186,375.00
Class A-1 Interest Paid 2,310,081.57
Class A-2 Interest Paid 236,250.00
Class A-3 Interest Paid 312,325.00
Class B Interest Paid 239,637.50
Certificate Yield Paid 186,375.00
Class A-1 Unpaid Interest 0.00
Class A-2 Unpaid Interest 0.00
Class A-3 Unpaid Interest 0.00
Class B Unpaid Interest 0.00
Cetificate Unpaid Yield 0.00
Class A-1 Principal Paid 18,408,716.17
Class A-2 Principal Paid 0.00
Class A-3 Principal Paid 0.00
Class B Principal Paid 0.00
Certificate Principal Paid 0.00
OC Principal Paid 0.00
Beginning Class A-1 Net Charge-Off 0.00
Beginning Class A-2 Net Charge-Off 0.00
Beginning Class A-3 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-1 0.00
Reversals Allocated to Class A-2 0.00
Reversals Allocated to Class A-3 0.00
Reversals Allocated to Class B 0.00
Reversals Allocated to Certificates 0.00
Reversals Allocated to OC plus Acclerated Principal Payments 149,258.46
Total Charge-Offs: 0.00
Charge-Offs Allocated to Class A-1 0.00
Charge-Offs Allocated to Class A-2 0.00
Charge-Offs Allocated to Class A-3 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-1 Net Charge-Off 0.00
Ending Class A-2 Net Charge-Off 0.00
Ending Class A-3 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
Interest paid per $1,000 Class A-1 3.166230
Principal paid per $1,000 Class A-1 25.231245
Interest paid per $1,000 Class A-2 4.921875
Principal paid per $1,000 Class A-2 0.000000
Interest paid per $1,000 Class A-3 5.005208
Principal paid per $1,000 Class A-3 0.000000
Interest paid per $1,000 Class B 5.255208
Principal paid per $1,000 Class B 0.000000
Yield Paid per $1,000 Certificate 5.546875
Principal Paid per $1,000 Certificate 0.000000
<PAGE>
Bloomberg Summary
Household Consumer Loan Trust 1997-1
Due Period Apr-98
Monthly Payment Rate (including charge offs) 3.92%
Monthly Draw Rate 1.37%
Monthly Net Payment Rate 2.55%
Actual Payment Rate 2.55%
Annualized Cash Yield 19.24%
Annualized Gross Losses 9.50%
Annualized Portfolio Yield 9.75%
Weighted Coupon 5.89%
Excess Servicing 3.86%
Ending Overcollateralization Percentage (3 mo avg) 6.61%
Trigger Level 4.25%
Excess Overcollateralization 2.36%
Delinquencies: (Principal/Principal)
30-59 days (Del Stat 1) 5.24%
60-89 days (Del Stat 2) 1.96%
90+ days (Del Stat 3+) 7.25%
Total Participation Balance (ending) 698,181,127.58
