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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
Form 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): February 17, 1998
BARNETT AUTO TRUST 1997-A
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(Exact name of registrant as specified in its charter)
United States
of America 333-26675-01 86-0888083
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(State or other (Commission File (IRS employer
Jurisdiction of Number) Identification No.)
Incorporation
Barnett Auto Trust 1997-A
Transamerica Square
NC1-021-03-07
401 North Tryon Street
Charlotte, North Carolina 28255
(704) 386-5000
(Address of principal executive offices)
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Registrant's telephone number including area code: (704) 386-5000
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Item 5. Other Events
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The Registrant hereby incorporates by reference the information
contained in Exhibit 99 hereto in response to this Item 5.
Item 7. Financial Statements, Pro Forma Financial Statements and Exhibits
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(c) Exhibits
99 Monthly Servicers Certificate for Barnett Dealer Financial Services, Inc.
Barnett Auto Trust 1997-A
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SIGNATURES
Pursuant to the requirements of the Securities and Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
BARNETT AUTO TRUST 1997-A
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(Registrant)
Dated: 5/5/98 By: /s/ Pat Doran
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Name: Pat Doran
Title: President
Barnett Dealer Financial Services, Inc.
(Duly Authorized Officer)
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INDEX TO EXHIBITS
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Exhibit
Number Exhibit
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99 Monthly Servicers Certificate for Barnett Dealer Financial Services,
Inc Barnett Auto Trust 1997-A
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BARNETT AUTO TRUST 1997-A
Exhibit 99
5.6544% ASSET BACKED NOTES
5.92% ASSET BACKED NOTES
6.03% ASSET BACKED NOTES
6.18% ASSET BACKED NOTES
6.26% ASSET BACKED NOTES
6.38% ASSET BACKED NOTES
Distribution Date: 02/17/98
Collection Period: 01/01/98 - 01/31/98
Under the Sale and Servicing Agreement dated as of September 18, 1997 among
Barnett Dealer Financial Servies, Inc. (or "BDFS"), as servicer and seller
(the "Servicer"), Barnett Auto Trust 1997-A, as issuer (the "Trust"), and
BDFS., as sponsor, the Servicer is required certain information each month
regarding current distributions to the Noteholders and the performance of the
Trust during the previous month. The information that is required to be
prepared with respect to the Distribution Date and Collection Period listed
above is set forth below. Certain of the information is presented on the
basis of an original principal amount of $1,000 per Note, and certain other
information is presented based upon the aggregate amounts for the Trust as a
whole.
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A. Information Regarding the Current Monthly Distribution
1. Class A-1 Notes
a. The aggregate amount of the distribution with
respect to the Notes $14,804,911.56
b. The amount of the distribution set forth in paragraph
A1a above in respect of interest on the Notes. $259,592.40
c. The amount of the distribution set forth in paragraph
A1a above in respect of principal of the Notes. $14,545,319.16
d. The amount of the distribution set forth in paragraph
A1a payable out of amounts withdrawn from the
Reserve Account with respect to the Notes. $0.00
e. The amount of the distribution set forth in paragraph
A1a above, per $1,000 Note. $135.4520727
f. The amount of the distribution set forth in paragraph
A1b above, per $1,000 Note. $2.3750448
g. The amount of the distribution set forth in paragraph
A1c above, per $1,000 Note. $133.0770278
h. The amount of the distribution set forth in paragraph
A1d above, per $1,000 Note. $0.0000000
2. Class A-2 Notes
a. The aggregate amount of the distribution with respect
to the Notes $764,666.67
b. The amount of the distribution set forth in paragraph
A2a above in respect of interest on the Notes. $764,666.67
c. The amount of the distribution set forth in paragraph
A2a above in respect of principal of the Notes. $0.00
d. The amount of the distribution set forth in paragraph
A2a payable out of amounts withdrawn from the
Reserve Account with respect to the Notes. $0.00
e. The amount of the distribution set forth in paragraph
A2a above, per $1,000 Note. $4.9333333
f. The amount of the distribution set forth in paragraph
A2b above, per $1,000 Note. $4.9333333
g. The amount of the distribution set forth in paragraph
A2c above, per $1,000 Note. $0.0000000
h. The amount of the distribution set forth in paragraph
A2d above, per $1,000 Note. $0.0000000
3. Class A-3 Notes
a. The aggregate amount of the distribution with respect
to the Notes $854,250.00
b. The amount of the distribution set forth in paragraph
A3a above in respect of interest on the Notes. $854,250.00
c. The amount of the distribution set forth in paragraph
A3a above in respect of principal of the Notes. $0.00
d. The amount of the distribution set forth in paragraph
A3a payable out of amounts withdrawn from the
Reserve Account with respect to the Notes. $0.00
e. The amount of the distribution set forth in paragraph
A3a above, per $1,000 Note. $5.0250000
f. The amount of the distribution set forth in paragraph
A3b above, per $1,000 Note. $5.0250000
g. The amount of the distribution set forth in paragraph
A3c above, per $1,000 Note. $0.0000000
h. The amount of the distribution set forth in paragraph
A3d above, per $1,000 Note. $0.0000000
4. Class A-4 Notes
a. The aggregate amount of the distribution with respect
to the Notes $463,500.00
b. The amount of the distribution set forth in paragraph
A4a above in respect of interest on the Notes. $463,500.00
c. The amount of the distribution set forth in paragraph
A4a above in respect of principal of the Notes. $0.00
d. The amount of the distribution set forth in paragraph
A4a payable out of amounts withdrawn from the
Reserve Account with respect to the Notes. $0.00
e. The amount of the distribution set forth in paragraph
A4a above, per $1,000 Note. $5.1500000
f. The amount of the distribution set forth in paragraph
A4b above, per $1,000 Note. $5.1500000
g. The amount of the distribution set forth in paragraph
A4c above, per $1,000 Note. $0.0000000
h. The amount of the distribution set forth in paragraph
A4d above, per $1,000 Note. $0.0000000
5. Class A-5 Notes
a. The aggregate amount of the distribution with respect
to the Notes $217,514.13
b. The amount of the distribution set forth in paragraph
A5a above in respect of interest on the Notes. $217,514.13
c. The amount of the distribution set forth in paragraph
A5a above in respect of principal of the Notes. $0.00
d. The amount of the distribution set forth in paragraph
A5a payable out of amounts withdrawn from the
Reserve Account with respect to the Notes. $0.00
e. The amount of the distribution set forth in paragraph
A5a above, per $1,000 Note. $5.2166666
f. The amount of the distribution set forth in paragraph
A5b above, per $1,000 Note. $5.2166666
g. The amount of the distribution set forth in paragraph
A5c above, per $1,000 Note. $0.0000000
h. The amount of the distribution set forth in paragraph
A5d above, per $1,000 Note. $0.0000000
6. Class B Notes
a. The aggregate amount of the distribution with respect
to the Notes $192,081.81
b. The amount of the distribution set forth in paragraph
A6a above in respect of interest on the Notes. $192,081.81
c. The amount of the distribution set forth in paragraph
A6a above in respect of principal of the Notes. $0.00
d. The amount of the distribution set forth in paragraph
A6a payable out of amounts withdrawn from the
Reserve Account with respect to the Notes. $0.00
e. The amount of the distribution set forth in paragraph
A6a above, per $1,000 Note. $5.3166667
f. The amount of the distribution set forth in paragraph
A6b above, per $1,000 Note. $5.3166667
g. The amount of the distribution set forth in paragraph
A6c above, per $1,000 Note. $0.0000000
h. The amount of the distribution set forth in paragraph
A6d above, per $1,000 Note. $0.0000000
7. Certificates
a. The aggregate amount of the distribution with respect
to the Certificates $0.00
d. The amount of the distribution set forth in paragraph
A7a payable out of amounts withdrawn from the
Reserve Account with respect to the Certificates. $0.00
B. Information Regarding the Performance of the Trust
1. Pool Balance and Note Principal Balance.
a. The Pool Balance at the close of business on
the last day of the Collection Period. $528,362,344.57
b. The Class A-1 Note Pool Balance after giving
effect to payments allocated to principal as
set forth in paragraph A1c. $35,538,103.93
c. The Class A-1 Note Pool Factor after giving
affect to the payments set forth in paragraph A1c. 32.5142762%
d. The Class A-2 Note Pool Balance after giving effect
to payments allocated to principal as set forth
in paragraph A2c. $155,000,000.20
e. The Class A-2 Note Pool Factor after giving affect
to the payments set forth in paragraph A2c. 100.0000000%
f. The Class A-3 Note Pool Balance after giving
effect to payments allocated to principal as
set forth in paragraph A3c. $170,000,000.22
g. The Class A-3 Note Pool Factor after giving affect
to the payments set forth in paragraph A3c. 100.0000000%
h. The Class A-4 Note Pool Balance after giving
effect to payments allocated to principal as
set forth in paragraph A4c. $90,000,000.11
i. The Class A-4 Note Pool Factor after giving
affect to the payments set forth in paragraph A4c. 100.0000000%
j. The Class A-5 Note Pool Balance after giving
effect to payments allocated to principal as
set forth in paragraph A5c. $41,696,000.06
k. The Class A-5 Note Pool Factor after giving affect
to the payments set forth in paragraph A5c. 100.0000000%
l. The Class B Note Pool Balance after giving effect
to payments allocated to principal as set forth
in paragraph A6c. $36,128,240.05
m. The Class B Note Pool Factor after giving affect
to the payments set forth in paragraph A6c. 100.0000000%
n. The aggregate Purchase Amount for all Receivables
that were repurchased in the Collection Period. $0.00
o. The aggregate Payahead Balance on such Distribution
Date. $1,028,162.75
p. The change in the Payahead Balance from the preceding
Distribution Date. ($485,552.67)
q. The aggregate Advance Balance on such Distribution
Date. $2,153,193.13
r. The change in the Advance Balance from the
preceding Distribution Date. ($266,307.88)
s. Total Collections by the Servicer. $19,309,849.99
t. All amounts received by the Trust from the
Servicer. $19,043,542.11
2. Servicing
a. The aggregate amount of the Servicing Fee paid to the
Servicer with respect to the preceding
Collection Period. $452,423.05
3. Payment Shortfalls
a. The amount of the Class A Noteholders' Interest
Carryover Shortfall after giving effect to the
payments set forth in paragraph A1b above with
respect to the Notes. $0.00
b. The amount of the Class A Noteholders' Interest
Carryover Shortfalls set forth in paragraph B3a
above per $1,000 interest with respect to the
Class A Notes. $0.00
c. The amount of the Class B Noteholders' Interest
Carryover Shortfall after giving effect to the
payments set forth in paragraph A1b above with
respect to the Notes. $0.00
d. The amount of the Class B Noteholders' Interest
Carryover Shortfalls set forth in paragraph B3a
above per $1,000 interest with respect to the
Class B Notes. $0.00
e. The amount of the Class A Noteholders' Principal
Carryover Shortfall after giving effect to the
payments set forth in paragraph A1b above with
respect to the Notes. $0.00
f. The amount of the Class A Noteholders' Principal
Carryover Shortfalls set forth in paragraph B3a
above per $1,000 Principal with respect to the
Class A Notes. $0.00
g. The amount of the Class B Noteholders' Principal
Carryover Shortfall after giving effect to the
payments set forth in paragraph A1b above with
respect to the Notes. $0.00
h. The amount of the Class B Noteholders' Principal
Carryover Shortfalls set forth in paragraph B3a
above per $1,000 Principal with respect to the
Class B Notes. $0.00
4. Losses and Delinquencies
a. The aggregate amount scheduled to be paid, including
unearned finance and other charges, for which
Obligors are delinquent 60 days or more. $3,368,389.90
b. The amount of the aggregate Realized Losses for such
Collection Period. $457,617.30
c. Cumulative Realized Losses from the Closing Date,
including Realized Losses for such Collection
Period. $1,076,090.82
d. Recoveries, if any, for such Collection Period. $0.00
5. Reserve Account
a. The Reserve Account balance as of the last day of the
preceding Collection Period, including earnings. $20,521,290.66
b. Earnings included in above balance. $91,046.94
c. Transfer to Reserve Account from Collection Account on
Distribution Date. $1,736,763.85
d. Transfer to BDFS $0.00
e. The Reserve Account balance as of the Distribution
Date set forth above after giving effect to the
distribution in respect of principal made on such $22,258,054.51
Distribution Date.
6. Delinquency
a. Percentage of principal balance of Receivables
delinquent 31 to 60 days. 0.74%
b. Percentage of principal balance of Receivables
delinquent 61 to 90 days. 0.35%
c. Percentage of principal balance of Receivables
delinquent over 90 days. 0.29%
7. WAC/WAM
a. Weighted Average Coupon of Receivables 12.07%
b. Weighted Average Remaining Term of Receivables 54.51
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