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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934
Date of Report January 20, 2000
HOUSEHOLD HOME EQUITY LOAN TRUST 1999-1
(Exact name of registrant as specified in Department of the
Treasury, Internal Revenue Service Form SS-4)
HOUSEHOLD FINANCE CORPORATION
(Servicer of the Trust)
(Exact name as specified in Servicer's charter)
Delaware 333-84611 Applied For
(State or other juris- (Commission File Number (IRS Employer
diction of incorporation of Registrant) Identification
of Master Servicer) Number of
Registrant)
2700 Sanders Road, Prospect Heights, Illinois 60070
(Address of principal executive offices of (Zip Code)
Master Servicer)
Servicer's telephone number, including area code 847/564-5000
Exhibit Index appears on page 3
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Item 7. FINANCIAL STATEMENTS AND EXHIBITS
(c) Exhibits
99(a) Monthly Servicing Report to Trustee dated
January 20, 2000 pursuant to Sections 4.01
and 5.02 of the Pooling and Servicing
Agreement dated as of November 1, 1999 (the
"Pooling and Servicing Agreement") among HFC
Revolving Corporation, as Seller, Household
Finance Corporation, as Servicer, and Bank
One, National Association, as Trustee, with
respect to Class A-1, Class A-2, Class A-3,
Class A-4, Class M-1 and Class M-2
Certificates.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act
of 1934, the Servicer has duly caused this report to be signed on
behalf of the Household Home Equity Loan Trust 1999-1 by the
undersigned hereunto duly authorized.
HOUSEHOLD FINANCE CORPORATION,
as Servicer of and on behalf of the
HOUSEHOLD HOME EQUITY LOAN TRUST 1999-1
(Registrant)
By: /s/ J. W. Blenke
J. W. Blenke
Authorized Representative
Dated: January 28, 2000
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EXHIBIT INDEX
Exhibit
Number Exhibit
99(a) Monthly Servicing Report to Trustee dated January 20, 2000
pursuant to Sections 4.01 and 5.02 of the Pooling and
Servicing Agreement dated as of November 1, 1999 (the
"Pooling and Servicing Agreement") among HFC Revolving
Corporation, as Seller, Household Finance Corporation, as
Servicer, and Bank One, National Association, as Trustee,
with respect to the Class A-1, Class A-2, Class A-3, Class
A-4, Class M-1 and Class M-2 Certificates.
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Household Home Equity Loan Trust 1999-1
Distribution Number 2
Beginning Date of Accrual Period 12/01/99
End Date of Accrual Period 12/31/99
Distribution Date 01/20/00
Previous Distribution Date 12/20/99
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Funds Disbursement
Available Funds for Distribution 15,957,731.36
Principal Collections 10,927,239.08
Interest Collections 5,030,492.28
Distribution of Interest Collections
Servicing Fee 214,608.90
Extra Principal 1,909,653.31
Distribution Amount
Interest Paid 2,906,230.07
To Class R
-
Distribution of Principal Collections
Principal Paid to 10,927,239.08
Certificates
Overcollateralization Release Amount -
Balance Reconciliation
Begin Principal Balance 515,061,353.04
Adjustments 0.00
Principal Collections (10,927,239.08)
(including repurchases)
Charge off Amount
-
End Principal Balance 504,134,113.96
Collateral Performance
Cash Yield (% of beginning balance) 11.72%
Charge off Amount (% of 0.00%
beginning balance)
Net Yield 11.72%
Delinquent Loans (contractual)
30-59 days principal balance of loan 14,305,457.14
30-59 days number of loans 219
60-89 days principal balance of loan 1,379,355.57
60-89 days number of loans 20
90+ days number of loans
1
90+ days principal balance of loan 52,147.85
Number of Loans that went into REO 0
Principal Balance of Loans that 0.00
went into REO
Principal Balance of all REO 0.00
Overcollateralization Reconcilliation
Begin OC Amount 27,972,087.44
Target OC Amount 50,039,651.27
OC Deficiency 22,067,563.83
OC Release Amount
-
End OC Amount 29,881,740.75
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Loan Repurchase Detail
Number Purchased for pursuant to 2.02
Principal Balance Purchasesed pursant to 2.02
Other
Stepdown No
Trigger Event No
Event of Default No
Class A-1 Noteholder's Statement
A. Information on Distributions
1. Total Distribution per $1,000 59.536346
2. Principal Distribution per $1,000 54.164103
3. Interest Distribution per $1,000 5.372243
B. Calculation of Class A-1 Interest Due & Paid
1. Class A-1 related Note Rate 6.83%
2. Accrual Convention 30/360
3. Class A-1 Principal 223,699,265.60
Balance, BOP
4. Class A-1 Interest
Carryover Shortfall, BOP -
5. Class A-1 Interest Due 1,273,221.65
6. Class A-1 Interest Paid 1,273,221.65
7. Class A-1 unpaid
Carryover Shortfall, EOP -
C. Calculation of Class A-1
Principal Due & Paid
1. Class A-1 Principal 223,699,265.60
Balance, BOP
2. Class A-1 Principal Due
3. Class A-1 Principal Paid 12,836,892.39
4. Class A-1 Principal 210,862,373.21
Balance, EOP
5. Class A-1 Notes Balance 0.444620597
as a % of the Total Certificate Balance, EOP
6. Class A-1 Notes Balance 0.418266424
as a percentage of the Pool Balance, EOP
Class A-2 Noteholder's Statement
A. Information on Distributions
1. Total Distribution per $1,000 5.791667
2. Principal Distribution per $1,000 -
3. Interest Distribution per $1,000 5.791667
B. Calculation of Class A-2 Interest Due & Paid
1. Class A-2 related Note Rate 6.95%
2. Accrual Convention 30/360
3. Class A-2 Principal 62,000,000.00
Balance, BOP
4. Class A-2 Interest
Carryover Shortfall, BOP -
5. Class A-2 Interest Due 359,083.33
6. Class A-2 Interest Paid 359,083.33
7. Class A-2 unpaid
Carryover Shortfall, EOP -
C. Calculation of Class A-2 Principal Due & Paid
1. Class A-2 Principal 62,000,000.00
Balance, BOP
2. Class A-2 Principal Due
3. Class A-2 Principal Paid -
4. Class A-2 Principal 62,000,000.00
Balance, EOP
5. Class A-2 Notes Balance 0.130732082
as a percentage of the Total Certificate Balance
6. Class A-2 Notes Balance 0.122983147
as a percentage of the Pool Balance, EOP
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Class A-3 Noteholder's Statement
A. Information on Distributions
1. Total Distribution per $1,000 6.008333
2. Principal Distribution per $1,000 -
3. Interest Distribution per $1,000 6.008333
B. Calculation of Class A-3 Interest Due & Paid
1. Class A-3 related Note Rate 7.21%
2. Accrual Convention 30/360
3. Class A-3 Principal 90,000,000.00
Balance, BOP
4. Class A-3 Interest Carryover -
Shortfall, BOP
5. Class A-3 Interest Due 540,750.00
6. Class A-3 Interest Paid 540,750.00
7. Class A-3 unpaid
Carryover Shortfall, EOP -
C. Calculation of Class A-3 Principal Due & Paid
1. Class A-3 Principal Balance, BOP 90,000,000.00
2. Class A-3 Principal Due
3. Class A-3 Principal Paid
-
4. Class A-3 Principal 90,000,000.00
Balance, EOP
5. Class A-3 Notes Balance 0.189772377
as a percentage of the Total Certificate Balance
6. Class A-3 Notes Balance 0.178523924
as a percentage of the Pool Balance, EOP
Class A-4 Noteholder's Statement
A. Information on Distributions
1. Total Distribution per $1,000 6.008333
2. Principal Distribution per $1,000 -
3. Interest Distribution per $1,000 6.008333
B. Calculation of Class A-4 Interest Due & Paid
1. Class A-4 related Note Rate 7.21%
2. Accrual Convention 30/360
3. Class A-4 Principal 42,920,000.00
Balance, BOP
4. Class A-4 Interest
Carryover Shortfall, BOP -
5. Class A-4 Interest Due 257,877.67
6. Class A-4 Interest Paid 257,877.67
7. Class A-4 unpaid
Carryover Shortfall, EOP -
C. Calculation of Class A-4 Principal Due & Paid
1. Class A-4 Principal 42,920,000.00
Balance, BOP
2. Class A-4 Principal Due
3. Class A-4 Principal Paid
-
4. Class A-4 Principal 42,920,000.00
Balance, EOP
5. Class A-4 Notes Balance 0.090500338
as a percentage of the Total Certificate Balance
6. Class A-4 Notes Balance 0.085136076
as a percentage of the Pool Balance, EOP
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Class M-1 Noteholder's Statement
A. Information on Distributions
1. Total Distribution per $1,000 6.525000
2. Principal Distribution per $1,000 -
3. Interest Distribution per $1,000 6.525000
B. Calculation of Class M-1 Interest Due & Paid
1. Class M-1 related Note Rate 7.83%
2. Accrual Convention 30/360
3. Class M-1 Principal 35,550,000.00
Balance, BOP
4. Class M-1 Interest
Carryover Shortfall, BOP -
5. Class M-1 Interest Due 231,963.75
6. Class M-1 Interest Paid 231,963.75
7. Class M-1 unpaid
Carryover Shortfall, EOP -
C. Calculation of Class M-1 Principal Due & Paid
1. Class M-1 Principal 35,550,000.00
Balance, BOP
2. Class M-1 Principal Due
3. Class M-1 Principal Paid
-
4. Class M-1 Principal 35,550,000.00
Balance, EOP
5. Class M-1 Notes Balance 0.074960089
as a percentage of the Total Certificate Balance
6. Class M-1 Notes Balance 0.07051695
as a percentage of the Pool Balance, EOP
Class M-2 Noteholder's Statement
A. Information on Distributions
1. Total Distribution per $1,000 7.391667
2. Principal Distribution per $1,000 -
3. Interest Distribution per $1,000 7.391667
B. Calculation of Class M-2 Interest Due & Paid
1. Class M-2 related Note Rate 8.87%
2. Accrual Convention 30/360
3. Class M-2 Principal 32,920,000.00
Balance, BOP
4. Class M-2 Interest
Carryover Shortfall, BOP -
5. Class M-2 Interest Due 243,333.67
6. Class M-2 Interest Paid 243,333.67
7. Class M-2 unpaid
Carryover Shortfall, EOP -
C. Calculation of Class M-2 Principal Due & Paid
1. Class M-2 Principal 32,920,000.00
Balance, BOP
2. Class M-2 Principal Due
3. Class M-2 Principal Paid
-
4. Class M-2 Principal 32,920,000.00
Balance, EOP
5. Class M-2 Notes Balance 0.069414518
as a percentage of the Total Certificate Balance
6. Class M-2 Notes Balance 0.065300084
as a percentage of the Pool Balance, EOP
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