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: April 17, 1998
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(Date of earliest event reported)
Commission File No. 333-20675
EQCC Receivables Corporation
EQCC Asset Backed Corporation
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59-3170055
Delaware 59-3170052
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(State of Incorporation) (I.R.S. Employer Identification No.)
100401 Deerwood Park Boulevard
Jacksonville, Florida 32256
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Address of principal executive offices (Zip Code)
(904) 987-5000
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Registrant's Telephone Number, including area code
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(Former name, former address and former fiscal year, if changed since last
report)
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Item 5. Other Events
Documents incorporated by Reference
The consolidated financial statements of Ambac Assurance Corporation and its
subsidiaries as of December 31, 1997 and December 31,1996, and for the
three-year period ended December 31, 1997, included in the Current Report on
Form 8-K of Ambac Financial Group, Inc. (which was filed with the Securities and
Exchange Commission on March 27, 1998) are hereby incorporated by reference in
(i) this Current Report on Form 8-K; (ii) the registration statement of the
registrants (Registration No. 333-20675) and (iii) the Prospectus Supplement and
Prospectus, each dated April 16, 1998, relating to EQCC Home Equity Loan Asset
Backed Certificates, Series 1998-1, and shall be deemed to be part hereof and
thereof
Item 7. Financial Statements and Exhibits
Item 601(a)
of Regulation S-K
Exhibit No. Description
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(EX-23) Consent of KPMG Peat Marwick,
independent Certified
Public Accountants of Ambac
Assurance Corporation
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Pursuant to the requirements of the Securities Exchange Act of
1934, the registrants have duly caused this report to be signed on their behalf
by the undersigned hereunto duly authorized.
EQCC RECEIVABLES CORPORATION
April 17, 1998
By: /s/ James B. Dodd
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Name: James B. Dodd
Title: Vice President
EQCC ASSET BACKED CORPORATION
April 17, 1998
By: /s/ James B. Dodd
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Name: James B. Dodd
Title: Vice President
<PAGE>
INDEX TO EXHIBITS
Paper (P) or
Exhibit No. Description Electronic (E)
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(EX-23) Consent of KPMG Peat Marwick E
LLP, independent Certified
Public Accountants of Ambac
Assurance Corporation
EX-23
INDEPENDENT AUDITORS' CONSENT
The Board of Directors
Ambac Assurance Corporation:
We consent to the incorporation by reference in the registration statement (No.
333-20675) of EQCC Receivables Corporation and EQCC Asset Backed Corporation
(the "Registrants"), and the Prospectus Supplement of the Registrants (the
"Prospectus Supplement"), included in Form 8-K of the Registrants dated April
17, 1998, of our report dated January 29, 1998 on the consolidated financial
statements of Ambac Assurance Corporation as of December 31, 1997 and 1996, and
for each of the years in the three-year period ended December 31, 1997, which
report appears in the Form 8-K of Ambac Financial Group, Inc. dated March 27,
1998 and the reference to our firm under the heading "Experts" in the Prospectus
Supplement.
/s/ KPMG Peat Marwick LLP
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KPMG Peat Marwick LLP
New York, New York
April 17, 1998
