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Previous: LA JOLLA PHARMACEUTICAL CO, S-8, 1997-06-19 |
Next: APARTMENT INVESTMENT & MANAGEMENT CO, SC 13D/A, 1997-06-19 |
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):
June 19, 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 May 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: June 19, 1997
<TABLE>
Fingerhut Receivables, Inc. Fingerhut Master Trust Monthly Report
Certificateholder's Statement Series 1994-1 May-97
Section 5.2 Class A Class B Class C Class D Total
<S> <C> <C> <C> <C> <C>
(i) Certificate Amount 417,608,333.33 92,050,000.00 92,050,000.00 122,728,000.00 724,436,333.33
(ii) Certificate Principal Distributed 59,658,333.33 0.00 0.00 59,658,333.33
(iii) Certificate Interest Distributed 2,153,147.97 498,380.43 530,086.55 3,181,614.95
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 3.0076100 5.4142361 5.7586806
(iv) Principal Collections 60,148,211.18 7,733,821.54 7,733,821.54 10,311,313.96 85,927,168.22
(v) Imputed Yield Collections 12,934,825.53 2,578,311.84 2,578,311.84 3,419,041.94 21,510,491.15
Recoveries 1,469,259.09 323,856.80 323,856.80 430,505.57 2,547,478.26
Interest Earned on Prefunded Accounts 0.00 0.00 0.00 0.00 0.00
Total Imputed Yield Collections 14,404,084.62 2,902,168.64 2,902,168.64 3,849,547.51 24,057,969.41
Total Collections 74,552,295.80 10,635,990.18 10,635,990.18 14,160,861.47 109,985,137.63
(vi) Aggregate Amount of Principal Receivables 1,225,874,970.35
Invested Amount (End of Month) 417,608,333.33 92,050,000.00 92,050,000.00 122,728,000.00 724,436,333.33
Floating Allocation Percentage 34.0661441% 7.5089224% 7.5089224% 10.0114614% 59.0954503%
Invested Amount (Beginning of Month) 477,266,666.67 92,050,000.00 92,050,000.00 122,728,000.00 784,094,666.67
Average Daily Invested Amount 764,803,571.25
(vii) Receivable Delinquencies (As a % of Total Receivables)
Current 76.41% 1,248,914,825.02
30 Days to 59 Days 5.99% 97,844,686.47
60 Days to 89 Days 3.62% 59,212,963.74
90 Days and Over 13.98% 228,527,485.23
Total Receivables 100.00% 1,634,499,960.46
(viii) Aggregate Investor Default Amount 15,675,498.15
As a % of Average Daily Invested Amount 21.37%
(Annualized based on 365 days/year)
(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 795,444.30
Class B 153,416.55
Class C 153,416.55
Class D 204,546.65
Total Servicing Fee 1,306,824.05
(xi) Pool Factor
Class A 0.5000000
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 2,770,328.11
(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 11.4300%
Minimum Base Rate 8.1267%
</TABLE>
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