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Previous: BANCORP CONNECTICUT INC, 10-Q, 1998-11-16 |
Next: RIGHTCHOICE MANAGED CARE INC, 10-Q, 1998-11-16 |
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):
November 12, 1998
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 1998-1 October Certificateholders' Statement
Ex. 20.b Series 1998-2 October Certificateholders' 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/Brian M. Szames
Brian M. Szames
President and Treasurer
Dated: November 15, 1998
<TABLE>
Exhibit 20.a
Fingerhut Receivables, Inc. Fingerhut Master Trust Monthly Report
Securityholder's Statement Series 1998-1 Oct-1998
Class A Class B CTO Class D Total
<C> <C> <C> <C> <C> <C>
(i) Security Amount 337,500,000.00 51,136,000.00 61,364,000.00 61,364,000.00 511,364,000.00
(ii) Security Principal Distributed 0.00 0.00 0.00 0.00
(iii) Security Interest Distributed 1,707,187.50 268,037.87 338,652.37 2,313,877.74
Security Principal Distributed per $1,000 0.0000000 0.0000000 0.0000000
Security Interest Distributed per $1,000 5.0583333 5.2416667 5.5187467
(iv) Principal Collections 23,319,839.10 3,533,283.83 4,239,995.87 4,239,995.87 35,333,114.67
(v) Finance Collections 8,180,467.92 1,239,456.02 1,487,366.62 1,487,366.62 12,394,657.18
Recoveries 1,100,010.63 166,667.09 200,003.12 200,003.12 1,666,683.96
Defeasance Funding Acct Earnings 0.00 0.00 0.00 0.00 0.00
Total Finance Collections 9,280,478.55 1,406,123.11 1,687,369.74 1,687,369.74 14,061,341.14
Total Collections 32,600,317.65 4,939,406.94 5,927,365.61 5,927,365.61 49,394,455.81
(vi) Aggregate Amount of Principal Receivables 1,213,088,768.43
Invested Amount (End of Month) 337,500,000.00 51,136,000.00 61,364,000.00 61,364,000.00 511,364,000.00
Floating Allocation Percentage 27.8215419% 4.2153552% 5.0584921% 5.0584921% 42.1538813%
Invested Amount (Beginning of Month) 337,500,000.00 51,136,000.00 61,364,000.00 61,364,000.00 511,364,000.00
Average Daily Invested Amount 511,364,000.00
(vii) Receivable Delinquencies
Current 78.81% 1,257,712,790.27
30 Days to 59 Days 5.00% 79,811,955.92
60 Days to 89 Days 3.32% 52,984,513.38
90 Days and Over 12.87% 205,469,453.16
Total Receivables 100.00% 1,595,978,712.73
(viii) Aggregate Investor Default Amount 8,350,519.70
As a % of Average Daily Invested Amount (Annualized based on 365 days/year) 21.29%
(ix) Security Charge-Offs 0.00 0.00 0.00 0.00 0.00
(x) Servicing Fee 517,808.22 78,455.23 94,147.51 94,147.51 784,558.47
(xi) Pool Factor 1.000000 1.000000 1.000000
(xii) Unreimbursed Redirected Principal Collections 0.000000 0.000000 0.000000 0.00
(xiii) Excess Funding Account Balance 0.00
(xiv) CTO Trigger Event Occurrence None
CTO Reserve Amount N/A
(xv) Number of New Accounts Added to the Trust 80,411
(xvi) Revolving Receivables Reserve Account Balance $750,000.00
(xvii) Defeasance Funding Account Balance 0.00
Average Net Portfolio Yield 14.56%
Minimum Base Rate 8.11%
</TABLE>
<TABLE>
Exhibit 20.b
Fingerhut Receivables, Inc. Fingerhut Master Trust Monthly Report
Securityholder's Statement Series 1998-2 Oct-1998
Class A Class B CTO Class D Total
<C> <C> <C> <C> <C> <C>
(i) Security Amount 337,500,000.00 51,136,000.00 61,364,000.00 61,364,000.00 511,364,000.00
(ii) Security Principal Distributed 0.00 0.00 0.00 0.00
(iii) Security Interest Distributed 1,752,187.50 277,412.80 346,834.24 2,376,434.54
Security Principal Distributed per $1,000 0.0000000 0.0000000 0.0000000
Security Interest Distributed per $1,000 5.1916667 5.4250000 5.6520800
(iv) Principal Collections 23,319,839.10 3,533,283.83 4,239,995.87 4,239,995.87 35,333,114.67
(v) Finance Collections 8,180,467.92 1,239,456.02 1,487,366.62 1,487,366.62 12,394,657.18
Recoveries 1,100,010.63 166,667.09 200,003.12 200,003.12 1,666,683.96
Defeasance Funding Acct Earnings 0.00 0.00 0.00 0.00 0.00
Total Finance Collections 9,280,478.55 1,406,123.11 1,687,369.74 1,687,369.74 14,061,341.14
Total Collections 32,600,317.65 4,939,406.94 5,927,365.61 5,927,365.61 49,394,455.81
(vi) Aggregate Amount of Principal Receivables 1,213,088,768.43
Invested Amount (End of Month) 337,500,000.00 51,136,000.00 61,364,000.00 61,364,000.00 511,364,000.00
Floating Allocation Percentage 27.8215419% 4.2153552% 5.0584921% 5.0584921% 42.1538813%
Invested Amount (Beginning of Month) 337,500,000.00 51,136,000.00 61,364,000.00 61,364,000.00 511,364,000.00
Average Daily Invested Amount 511,364,000.00
(vii) Receivable Delinquencies
Current 78.81% 1,257,712,790.27
30 Days to 59 Days 5.00% 79,811,955.92
60 Days to 89 Days 3.32% 52,984,513.38
90 Days and Over 12.87% 205,469,453.16
Total Receivables 100.00% 1,595,978,712.73
(viii) Aggregate Investor Default Amount 8,350,519.70
As a % of Average Daily Invested Amount (Annualized based on 365 days/year) 21.29%
(ix) Security Charge-Offs 0.00 0.00 0.00 0.00 0.00
(x) Servicing Fee 517,808.22 78,455.23 94,147.51 94,147.51 784,558.47
(xi) Pool Factor 1.000000 1.000000 1.000000
(xii) Unreimbursed Redirected Principal Collections 0.000000 0.000000 0.000000 0.00
(xiii) Excess Funding Account Balance 0.00
(xiv) CTO Trigger Event Occurrence None
CTO Reserve Amount N/A
(xv) Number of New Accounts Added to the Trust 80,411
(xvi) Revolving Receivables Reserve Account Balance $750,000.00
(xvii) Defeasance Funding Account Balance 0.00
Average Net Portfolio Yield 14.56%
Minimum Base Rate 8.28%
</TABLE>
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