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Previous: ML BANCORP INC, 8-K, 1997-09-22 |
Next: RURAL ELECTRIC COOPERATIVE GRANTOR TRUST SOYLAND 1993 B1, 8-K, 1997-09-22 |
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 (Date of earliest event reported):
September 22, 1997
FINGERHUT MASTER TRUST
FINGERHUT RECEIVABLES, INC.
(Originator of the Fingerhut Master Trust)
(Exact name of registrant as specified in its charter)
Delaware 033-77780 41-1783128
(State of Incorporation) (Commission File Number) (IRS Employer
Identification No.)
4400 Baker Road, Suite F480, Minnetonka, Minnesota 55343
(Address of principal executive offices)
(612) 936-5035
(Registrant's telephone number, including area code)
FINGERHUT RECEIVABLES, INC.
Current Report on Form 8-K
Item 7. Financial Statements and Exhibits
Ex. 20.a Series 1994-1 August Certificateholder's
Statement
SIGNATURE
Pursuant to the requirements of the Securities Exchange
Act of 1934, the Registrant has duly caused this report to be
signed on its behalf by the undersigned hereunto duly authorized.
FINGERHUT RECEIVABLES, INC.
By /s/James M. Wehmann
President and Treasurer
Dated: September 22, 1997
<TABLE>
Exhibit 20a
Fingerhut Receivables, Inc. Fingerhut Master Trust Monthly Report
Certificateholder's Statement Series 1994-1 Aug-97
Section 5.2 Class A Class B Class C Class D Total
<S> <C> <C> <C> <C> <C>
(i) Certificate Amount 238,633,333.32 92,050,000.00 92,050,000.00 122,728,000.00 545,461,333.32
(ii) Certificate Principal Distributed 59,658,333.33 0.00 0.00 59,658,333.33
(iii) Certificate Interest Distributed 1,296,077.29 525,260.31 559,011.98 2,380,349.58
Total Distribution per $1,000 Certificate (Original Class A Certificate Amount = $715,900,000.00)
Certificate Principal Distributed per $1,000 83.3333333 0.0000000 0.0000000
Certificate Interest Distributed per $1,000 1.8104167 5.7062500 6.0729167
(iv) Principal Collections 57,744,649.21 7,424,772.96 7,424,772.96 9,899,267.09 82,493,462.22
(v) Imputed Yield Collections 7,586,981.08 2,474,924.32 2,474,924.32 3,281,133.66 15,817,963.38
Recoveries 933,860.81 360,225.82 360,225.82 480,280.22 2,134,592.67
Interest Earned on Prefunded Accounts 0.00 0.00 0.00 0.00 0.00
Total Imputed Yield Collections 8,520,841.89 2,835,150.14 2,835,150.14 3,761,413.88 17,952,556.05
Total Collections 66,265,491.10 10,259,923.10 10,259,923.10 13,660,680.97 100,446,018.27
(vi) Aggregate Amount of Principal Receivables 1,192,741,908.97
Invested Amount (End of Month) 238,633,333.32 92,050,000.00 92,050,000.00 122,728,000.00 545,461,333.32
Floating Allocation Percentage 20.0071224% 7.7175120% 7.7175120% 10.2895689% 45.7317152%
Invested Amount (Beginning of Month) 298,291,666.65 92,050,000.00 92,050,000.00 122,728,000.00 605,119,666.65
Average Daily Invested Amount 587,507,331.34
(vii) Receivable Delinquencies (As a % of Total Receivables)
Current 74.08% 1,178,167,985.26
30 Days to 59 Days 6.84% 108,775,333.20
60 Days to 89 Days 4.44% 70,562,530.02
90 Days and Over 14.64% 232,816,696.81
Total Receivables 100.00% 1,590,322,545.29
(viii) Aggregate Investor Default Amount 12,624,293.13
As a % of Average Daily Invested Amount (Annualized based on 365 days/year) 22.41%
(ix) Certificate Charge-Offs
Class A 0.00
Class B 0.00
Class C 0.00
Total Certificate Charge-Offs 0.00
(x) Servicing Fee
Class A 497,152.95
Class B 153,416.55
Class C 153,416.55
Class D 204,546.65
Total Servicing Fee 1,008,532.70
(xi) Pool Factor
Class A 0.3333333
Class B 1.0000000
Class C 1.0000000
(xii) Reallocated Principal Collections
Class B 0.00
Class C 0.00
Class D ** Everything was reimbursed by the end of the fiscal month. 2,317,441.10
(xiii) Excess Funding Account Balance 0.00
Prefunding Account Balance 0.00
(xiv) Class C Trigger Event Occurrence None
Class C Reserve Amount N/A
Average Net Portfolio Yield 9.4580%
Minimum Base Rate 8.1158%
</TABLE>
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