<PAGE>
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
----------------------------
8-K
----------------------------
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): December 15, 1997
-----------------
EQCC HOME EQUITY LOAN TRUST 1997-3
- ------------------------------------------------------------------------------
(Exact name of registrant as specified in governing instruments)
Delaware 333-20675 59-3465422
--------------- ---------------- -------------------
(State or other (Commission File (IRS Employer
jurisdiction of Number) Identification No.)
organization)
10401 Deerwood Park Boulevard, Jacksonville, Florida 32256
- ------------------------------------------------------------------------------
(Address of principal offices) (Zip Code)
Registrant's telephone number, including area code: (904) 987-5000
---------------------
Not Applicable
- ------------------------------------------------------------------------------
(Former name or former address, if changed since last report)
Page 1 of 11
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Items 1 through 4, Item 6, and Item 8 are not included because they
are not applicable.
Item 5. Other Events.
(a) Merger. On September 26, 1994, EquiCredit Corporation (the
"Company") entered into an Agreement and Plan of Merger (the "Merger
Agreement") with Barnett Banks, Inc. ("Barnett Banks") and a Delaware
corporation to be formed as wholly-owned subsidiary of Barnett Banks
(the "Merger Subsidiary"). The transaction was consummated on January
27, 1995.
(b) On August 15, 1996, (the "August Remittance Date") a scheduled
distribution was made from EQCC Home Equity Loan Trust 1996-1 to
holders of Class A-1 Certificates, Class A-2 Certificates, Class A-3
Certificates, Class A-4 Certificates, Class A-5 Certificates, Class
A-6 Certificates and Class R Certificates. The information contained
in the Trustee's Remittance Report in respect of the August Remittance
Date, attached hereto as Exhibit 99, is hereby incorporated by
reference.
2
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As of October 1, 1993, Old Stone Credit Corporation is n/k/a
EquiCredit Corporation of America.
Item 7. Financial Statements and Exhibits.
(a) Financial Statements - Not Applicable
(b) Pro Forma Financial Information - Not Applicable
(c) Exhibits
(Exhibit numbers conform to Item 601 of Regulation S-K):
99 Trustee's Remittance Report in respect of the August
Remittance Date.
[THE REMAINDER OF THIS PAGE INTENTIONALLY LEFT BLANK]
3
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Signatures
Pursuant to the requirements of the Securities Exchange Act of
1934, the registrant has duly caused this report to be signed on its behalf
the undersigned hereto duly authorized.
EQCC HOME EQUITY LOAN TRUST 1997-3
(Registrant)
EQUICREDIT CORPORATION OF AMERICA
as Representative
December 15, 1997 BY: /s/ JOHN D. EVANS, JR.
-------------------------------
John D. Evans, Jr.
Senior Vice President
4
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INDEX TO EXHIBITS
Sequentially
EXHIBIT Numbered
NUMBER Exhibit Page
99 -- Trustee's Remittance Report in respect of 7
the August Remittance Date.
[ THIS SPACE IS INTENTIONALLY LEFT BLANK ]
5
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EXHIBIT 99
Trustee's Remittance Report in respect of the August Remittance Date.
[ THIS SPACE IS INTENTIONALLY LEFT BLANK ]
6
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<TABLE>
<CAPTION>
U.S. BANK NATIONAL ASSOCIATION
AS TRUSTEE
EQCC HOME EQUITY LOAN ASSET BACKED CERTIFICATES, SERIES 1997-3
PYMT PER FROM DATE DEC. 15, 1997
PYMT PER TO DATE JAN. 15, 1998
PER $1,000 PER $1,000 PER $1,000
ORIGINAL BAL ORIGINAL BAL ORIGINAL BAL
CLASS A-1 CLASS A-2 CLASS A-3
------------------- ------------- ----------------- ----------------
<S> <C> <C> <C> <C>
55,000,000.00 94,400,000.00 86,800,000.00
CLASS A-1 PRINCIPAL BALANCE (Beginning)................ 40,624,799.35 738.63271545
CLASS A-2 PRINCIPAL BALANCE (Beginning)................ 94,400,000.00 1000.00000000
CLASS A-3 PRINCIPAL BALANCE (Beginning)................ 86,800,000.00 1000.00000000
CLASS A-4 PRINCIPAL BALANCE (Beginning)................ 78,100,000.00
CLASS A-5 PRINCIPAL BALANCE (Beginning)................ 21,700,000.00
CLASS A-6 PRINCIPAL BALANCE (Beginning)................ 55,500,000.00
CLASS A-7 PRINCIPAL BALANCE (Beginning)................ 33,500,000.00
CLASS A-8 PRINCIPAL BALANCE (Beginning)................ 41,000,000.00
CLASS A-9 PRINCIPAL BALANCE (Beginning)................ 34,000,000.00
CLASS A-10 PRINCIPAL BALANCE (Beginning)............... 141,576,951.95
Fixed Rate POOL PRINCIPAL BALANCE (Beginning).......... 485,624,799.35 8829.54180636 5144.33050159 5594.75575288
Variable Rate POOL PRINCIPAL BALANCE (Beginning)....... 141,576,951.95
Total POOL PRINCIPAL BALANCE (Beginning)............... 627,201,751.30 11403.66820545 6644.08634852 7225.82662788
ENDING CLASS A-1 PRINCIPAL BALANCE..................... 34,891,869.42 634.39762582
ENDING CLASS A-2 PRINCIPAL BALANCE..................... 94,400,000.00 1000.00000000
ENDING CLASS A-3 PRINCIPAL BALANCE..................... 86,800,000.00 1000.00000000
ENDING CLASS A-4 PRINCIPAL BALANCE..................... 78,100,000.00
ENDING CLASS A-5 PRINCIPAL BALANCE..................... 21,700,000.00
ENDING CLASS A-6 PRINCIPAL BALANCE..................... 55,500,000.00
ENDING CLASS A-7 PRINCIPAL BALANCE..................... 33,500,000.00
ENDING CLASS A-8 PRINCIPAL BALANCE..................... 41,000,000.00
ENDING CLASS A-9 PRINCIPAL BALANCE..................... 34,000,000.00
ENDING CLASS A-10 PRINCIPAL BALANCE.................... 137,801,869.68
Fixed Rate POOL PRINCIPAL BALANCE (Ending)............. 479,891,869.42 8725.30671673 5083.60031165 5528.70817304
Variable Rate POOL PRINCIPAL BALANCE (Ending).......... 137,801,869.68
Total POOL PRINCIPAL BALANCE (Ending).................. 617,693,739.10 11230.79525636 6543.36588030 7116.28731682
<CAPTION>
PER $1,000 PER $1,000 PER $1,000
ORIGINAL BAL ORIGINAL BAL ORIGINAL BAL
CLASS A-4 CLASS A-5 CLASS A-6
-------------- -------------- --------------
<S> <C> <C> <C>
78,100,000.00 21,700,000.00 55,500,000.00
CLASS A-1 PRINCIPAL BALANCE (Beginning)................
CLASS A-2 PRINCIPAL BALANCE (Beginning)................
CLASS A-3 PRINCIPAL BALANCE (Beginning)................
CLASS A-4 PRINCIPAL BALANCE (Beginning)................ 1000.00000000
CLASS A-5 PRINCIPAL BALANCE (Beginning)................ 1000.00000000
CLASS A-6 PRINCIPAL BALANCE (Beginning)................ 1000.00000000
CLASS A-7 PRINCIPAL BALANCE (Beginning)................
CLASS A-8 PRINCIPAL BALANCE (Beginning)................
CLASS A-9 PRINCIPAL BALANCE (Beginning)................
CLASS A-10 PRINCIPAL BALANCE (Beginning)...............
Fixed Rate POOL PRINCIPAL BALANCE (Beginning).......... 6217.98718758 22379.02301152 8749.99638468
Variable Rate POOL PRINCIPAL BALANCE (Beginning).......
Total POOL PRINCIPAL BALANCE (Beginning)............... 8030.75225736 28903.30651152 11300.93245586
ENDING CLASS A-1 PRINCIPAL BALANCE.....................
ENDING CLASS A-2 PRINCIPAL BALANCE.....................
ENDING CLASS A-3 PRINCIPAL BALANCE.....................
ENDING CLASS A-4 PRINCIPAL BALANCE..................... 1000.00000000
ENDING CLASS A-5 PRINCIPAL BALANCE..................... 1000.00000000
ENDING CLASS A-6 PRINCIPAL BALANCE..................... 1000.00000000
ENDING CLASS A-7 PRINCIPAL BALANCE.....................
ENDING CLASS A-8 PRINCIPAL BALANCE.....................
ENDING CLASS A-9 PRINCIPAL BALANCE.....................
ENDING CLASS A-10 PRINCIPAL BALANCE....................
Fixed Rate POOL PRINCIPAL BALANCE (Ending)............. 6144.58219488 22114.83269217 8646.70034991
Variable Rate POOL PRINCIPAL BALANCE (Ending)..........
Total POOL PRINCIPAL BALANCE (Ending).................. 7909.01074392 28465.14926728 11129.61692072
<CAPTION>
PER $1,000 PER $1,000 PER $1,000 PER $1,000
ORIGINAL BAL ORIGINAL BAL ORIGINAL BAL ORIGINAL BAL
CLASS A-7 CLASS A-8 CLASS A-9 CLASS A-10
-------------- -------------- -------------- -------------
33,500,000.00 41,000,000.00 34,000,000.00 148,425,000.00
CLASS A-1 PRINCIPAL BALANCE (Beginning)................
CLASS A-2 PRINCIPAL BALANCE (Beginning)................
CLASS A-3 PRINCIPAL BALANCE (Beginning)................
CLASS A-4 PRINCIPAL BALANCE (Beginning)................
CLASS A-5 PRINCIPAL BALANCE (Beginning)................
CLASS A-6 PRINCIPAL BALANCE (Beginning)................
CLASS A-7 PRINCIPAL BALANCE (Beginning)................ 1000.00000000
CLASS A-8 PRINCIPAL BALANCE (Beginning)................ 1000.00000000
CLASS A-9 PRINCIPAL BALANCE (Beginning)................ 1000.00000000
CLASS A-10 PRINCIPAL BALANCE (Beginning)............... 953.86189624
Fixed Rate POOL PRINCIPAL BALANCE (Beginning).......... 14496.26266716 11844.50730122 14283.08233382
Variable Rate POOL PRINCIPAL BALANCE (Beginning)....... 953.86189624
Total POOL PRINCIPAL BALANCE (Beginning)............... 18722.44033731 15297.60369024 18447.11033235 4225.71501634
ENDING CLASS A-1 PRINCIPAL BALANCE.....................
ENDING CLASS A-2 PRINCIPAL BALANCE.....................
ENDING CLASS A-3 PRINCIPAL BALANCE.....................
ENDING CLASS A-4 PRINCIPAL BALANCE.....................
ENDING CLASS A-5 PRINCIPAL BALANCE.....................
ENDING CLASS A-6 PRINCIPAL BALANCE.....................
ENDING CLASS A-7 PRINCIPAL BALANCE..................... 1000.00000000
ENDING CLASS A-8 PRINCIPAL BALANCE..................... 1000.00000000
ENDING CLASS A-9 PRINCIPAL BALANCE..................... 1000.00000000
ENDING CLASS A-10 PRINCIPAL BALANCE.................... 928.42762122
Fixed Rate POOL PRINCIPAL BALANCE (Ending)............. 14325.13043045 11704.67974195 14114.46674765
Variable Rate POOL PRINCIPAL BALANCE (Ending).......... 928.42762122
Total POOL PRINCIPAL BALANCE (Ending).................. 18438.61907761 15065.70095366 18167.46291471 4161.65564494
</TABLE>
