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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, 1999
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 No. 333-76439
HOUSEHOLD AUTOMOTIVE TRUST III, SERIES 1999-1
(Exact name of Registrant as specified in Department
of the Treasury, Internal Revenue Service Form SS-4)
HOUSEHOLD FINANCE CORPORATION
(Master Servicer of the Trust)
(Exact name as specified in Master Servicer's charter)
DELAWARE Not Applicable.
(State or other jurisdiction of (I.R.S. Employer
incorporation of Master Identification Number of
Servicer) Registrant)
2700 SANDERS ROAD, PROSPECT HEIGHTS, ILLINOIS 60070
(Address of principal executive offices of (Zip Code)
Master Servicer)
Master Servicer's telephone number, including area code:
(847)564-5000
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SIGNATURES
Pursuant to the requirements of Section 13 or 15(d) of the
Securities Exchange Act of 1934, the Master Servicer has duly
caused this report to be signed on behalf of the Household
Automotive Trust III, Series 1999-1 by the undersigned, thereunto
duly authorized.
HOUSEHOLD FINANCE CORPORATION,
as Master Servicer of and on behalf of the
HOUSEHOLD AUTOMOTIVE TRUST III,
SERIES 1999-1
(Registrant)
Date: May 5, 2000 By: /s/ J. W. Blenke
J. W. Blenke
Assistant Secretary
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Exhibit Index
Exhibit No. Exhibit
99 Copy of Independent Public Accountants Annual
Servicing Report dated April April 26, 2000.
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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 4.11 of the Master Sale and Servicing
Agreement, dated June 1, 1999 (the "Agreement").
A. 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, 1999, and have issued our report thereon dated
January 14, 2000. We have not audited any financial statements
of the Servicer as of any date or for any period subsequent to
December 31, 1999, or performed any audit procedures subsequent
to the date of our report on those statements. As part of our
audit, we reviewed documents and records relating to the
servicing of consumer automobile finance receivables under the
Agreement. In connection with our audit, we noted no exceptions
or errors in the records relating to the servicing of consumer
automobile finance loans that, in our opinion, generally accepted
auditing standards 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,
with respect to Section 4.11 of the Agreement, in conjunction
with the servicing of consumer automobile finance receivables
owned by Household Automotive Trust III. 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
Servicer. 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 June, 1999 and December, 1999, 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 accounting records for the month of August, 1999,
September, 1999, and November, 1999, and for Series 1999-1
and found it to be in the 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
April 26, 2000
