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 May 14, 1997
HOUSEHOLD CONSUMER LOAN TRUST 1995-1
(Exact name of registrant as specified in its charter)
HOUSEHOLD FINANCE CORPORATION
(Administrator of the Trust)
(Exact name as specified in Administrator's charter)
Delaware 0-28110 88-0345949
(State or other juris- (Commission File Numbers) (IRS Employer
diction of incorpora- Identification
tion of Administrator) Number of
Registrant)
2700 Sanders Road, Prospect Heights, Illinois 60070
(Address of principal executive offices of (Zip Code)
Administrator)
Administrator's telephone number, including area code 847/564-5000
<PAGE>
Item 7. FINANCIAL STATEMENTS AND EXHIBITS
(C) Exhibits
99 Statement to (a) Series 1995-1 Participants with respect to
the distribution on May 14, 1997 as provided for under Article
V of the Pooling and Servicing Agreement dated as of
September 1, 1995 among Household Finance Corporation, as
Servicer and The Chase Manhattan Bank, N.A., as Deposit
Trustee and Section 5 of the Series 1995-1 Supplement to the
Pooling and Servicing Agreement, (b) Noteholders with respect
to the Payment Date on May 15, 1997 as provided for under
Section 3.23 of the Indenture dated as of September 1, 1995
between Household Consumer Loan Trust 1995-1 and The Bank of
New York, as Indenture Trustee, and (c) Certificateholders
with respect to the Payment Date on May 15, 1997 as provided
for under Section 5.04 of the Trust Agreement dated as of
September 1, 1995 between Household Consumer Loan Corporation
and The Chase Manhattan Bank (USA), as Owner Trustee.
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Administrator has duly caused this report to be signed on behalf of the
undersigned hereunto duly authorized.
HOUSEHOLD FINANCE CORPORATION,
as Administrator of and on behalf of the
HOUSEHOLD CONSUMER LOAN TRUST 1995-1
(Registrant)
By: /s/ J. W. Blenke
Dated: May 28, 1997 J. W. Blenke, Authorized Representative
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U:\WP\HFS088\8K\HCLT95-1.8K
EXHIBIT INDEX
Exhibit
Number Exhibit Page
5
99 Statement to (a) Series 1995-1 Participants with respect to the
distribution on May 14, 1997 as provided for under Article V of the
Pooling and Servicing Agreement dated as of September 1, 1995
among Household Finance Corporation, as Servicer and The Chase
Manhattan Bank, N.A., as Deposit Trustee and Section 5 of the
Series 1995-1 Supplement to the Pooling and Servicing Agreement,
(b) Noteholders with respect to the Payment Date on May 15, 1997 as
provided for under Section 3.23 of the Indenture dated as of
September 1, 1995 between Household Consumer Loan Trust 1995-1 and
The Bank of New York, as Indenture Trustee, and (c)
Certificateholders with respect to the Payment Date on May 15, 1997
as provided for under Section 5.04 of the Trust Agreement dated as
of September 1, 1995 between Household Consumer Loan Corporation
and The Chase Manhattan Bank (USA), as Owner Trustee.
-4-<PAGE>
Household Finance Corporation
Household Consumer Loan Corporation
Household Consumer Loan Trust Series 1995-1
No. of PMTs Since Issuance: 19
Distribution Date: 14-May-97
Payment Date: 15-May-97
Collection Period Beginning: 01-Apr-97
Collection Period Ending: 30-Apr-97
Note and Certificate Accrual Beginning: 15-Apr-97
Note and Certificate Accrual Ending: 15-May-97
PAYMENT CALCULATIONS:
OC Balance as % of Beginning Participation Invested Amount 7.16%
OC Balance as % of Ending Participation Invested Amount 7.33%
OC Balance as % of Ending Participation Invested Amount (3 consecu Test M
Does Early Amortization Start Based on OC/Part. Invstd. Amt. Test 0.00
Is the MAP Over? 0.00
Is this the Early Amortization Period? 0.00
Interest Allocation Percentage Calculation:
Numerator 707,900,674.74
Denominator-Component(x)-Aggregate Receivables & Partc. Inter 3,563,593,822.63
Denominator-Component(y)-Aggregate Numerators 3,213,602,699.27
Applicable Interest Allocation Percentage 19.86%
Principal Allocation Percentage Calculation:
Numerator 707,900,674.74
Denominator-Component(x)-Aggregate Receivables & Partc. Inter 3,563,593,822.63
Denominator-Component(y)-Aggregate Numerators 3,213,602,699.27
Applicable Principal Allocation Percentage 19.86%
Default Allocation Percentage Calculation:
Numerator 707,900,674.74
Denominator-Component(x)-Aggregate Receivables & Partc. Inter 3,563,593,822.63
Denominator-Component(y)-Aggregate Numerators 3,213,602,699.27
Default Allocation Percentage (Floating Allocation Percentage) 19.86%
Minimum Principal Amount Calculation:
1.8% of Participation Invested Amount 12,742,212.15
Series Participation Interest Default Amount (Sec.4.11(a)(iii)) 4,511,978.18
Excess of (i)1.8% of Part. Inv. Amt. over (ii)Series Part. Inter 8,230,233.97
Minimum Principal Amount 8,230,233.97
Investor Principal Collections 9,749,484.75
Investor Finance Charge and Admin. Collections (4.11a) 11,789,177.22
Investor Allocated Defaulted Amounts 4,511,978.18
DEPOSIT TRUST CALCULATIONS
Beginning Participation Unpaid Principal Balance 707,900,674.74
Beginning Participation Invested Amt(Invested Amt on previou 707,900,674.74
Ending Participation Unpaid Principal Balance 693,639,211.82
Ending Participation Invested Amount(InvestedAmtoncurrentDis 693,639,211.82
Beginning Participation Unpaid Principal Balancex(PRIME-1.50%) 4,129,420.60
Note Interest & Certificate Yield Amounts Due Pursuant to Sec.3 3,321,629.96
Participation Invested Amount x 25bps per annum 147,479.31
Participation Interest Distribution Amount 4,129,420.60
Application of Investor Finance Charges & Administrative Collections:
Investor Finance Charge and Admin. Collections (4.11a) 11,789,177.22
Servicing Fee if HFC is not the Servicer (Sec. 4.11 (a)(i) 0.00
Series Participation Interest Monthly Interest (Sec.4.11(a)(ii) 4,129,420.60
Series Participation Interest Default Amount (Sec.4.11(a)(iii)) 4,511,978.18
Reimbursed Series Particpation Interest Charge-Offs (Sec.4.11(a 0.00
Servicing Fee if HFC is the Servicer (Sec. 4.11 (a)(v)) 1,179,834.46
Excess (Sec. 4.11 (a)(vi)) 1,967,943.98
Reconciliation Check 0.00
Series Participation Interest Monthly Principal 14,261,462.92
Beginning Unreimbursed Participation Interest Charge-Offs 0.00
Series Participation Interest Charge-Offs (Sec. 4.12 (a)) 0.00
Reimbursed Series Particpation Interest Charge-Offs (Sec. 4.11 (a 0.00
Ending Unreimbursed Participation Interest Charge-Offs 0.00
Available Investor Principal Collections 14,261,462.92
Participation Interest Distribution Amount 4,129,420.60
Series Participation Interest Charge-Offs 0.00
OWNER TRUST CALCULATIONS
Note Interest & Certificate Yield Amounts Due Pursuant to Sec.3 3,321,629.96
Excess Interest 807,790.65
Beginning Net Charge-Offs 0.00
Reversals 0.00
+Available Investor Principal Collections 14,261,462.92
+Series Participation Interest Charge Offs 0.00
+ Lesser of Excess Interest and Carryover Charge Offs 0.00
Optimum Monthly Principal1 4,261,462.92
Are the Notes Retired ? 0.00
Accelerated Principal Payment 147,479.31
Beginning Class A Security Balance 454,728,228.85
Beginning Class B Security Balance 172,196,000.00
Beginning Certificate Security Balance 30,304,000.00
Beginning Overcollateralization Amount plus APP 50,819,925.20
Beginning Class A Adjusted Balance 454,728,228.85
Beginning Class B Adjusted Balance 172,196,000.00
Beginning Certficate Adjusted Balance 30,304,000.00
Beginning Overcollateralization Amount plus APP 50,819,925.20
Class A Balance After Payment pursuant to clause (iv) 440,466,765.92
Class B Balance After Payment pursuant to clause (v) 172,196,000.00
Certificate Balance After Payment pursuant to clause (vi) 30,304,000.00
Class B Minimum Adjusted Principal Balance 61,666,666.67
Certificate Minimum Adjusted Principal Balance 5,833,333.33
Minimum Overcollateralization Amount 15,833,333.33
Certificate Minimum Balance Target 21,020,042.67
Scheduled Certificate Payment to Certificate Minimum Balance Targe
9,283,957.33
Class A Targeted Balance 346,819,605.91
Class B Targeted Balance 162,999,348.36
Certificate Targeted Balance 15,080,720.77
Class A:Payment Required to get to Target 107,908,622.94
Class B:Payment Required to get to Target or Min Adjusted Bal 9,196,651.64
Certificate:Payment Required to get to Target or Min Adjuste 15,223,279.23
OC: Payment to get to Minimum Overcollateralization Amount 34,986,591.87
Section 3.05 Payment of Principal and Interest;Defaulted Interes 0.00
Pay Certificate Yield in step (i) (1= Yes) 1.00
Remittances on the Participation 18,390,883.53
Interest and Yield
(i) Pay Class A Interest Distribution (Sec. 3.05 (i)(a)) 2,246,167.98
(ii) Pay Class B Interest Distribution (Sec. 3.05 (i)(b)) 905,822.71
(iii)Pay Certificates the Certificate Yield (Sec. 3.05 (i)(c)) 169,639.27
Principal up to Optimum Monthly Principal
(iv) Pay Class A to Targeted Principal Balance (Sec.3.05(ii)(a 14,261,462.92
(v) Pay Class B to Targeted Principal Balance (Sec. 3.05 (ii)(b 0.00
ONLY Pay Certificate Interest if not paid pursuant to (Sec.3.05( 0.00
Principal up to Optimal Monthly Principal
(vi) Pay Certificate to Targeted Principal Balance (Sec.3.05(i 0.00
(vii) Pay OC Remaining Optimal Monthly Principal Amount (Sec.3.0 0.00
Principal up to the Accelerated Principal Payment Amount
(viii) (a ) Pay Class A to Targeted Principal Balance (Sec. 3.05 147,479.31
(viii) (b ) Pay Class B to Targeted Principal Balance (Sec. 3.05 0.00
(viii) (c ) Pay Class A to zero (Sec. 3.05 (v)(c)) 0.00
(viii) (d ) Pay Class B to zero (Sec. 3.05 (v)(d)) 0.00
Principal up to Optimal Monthly Principal
(xi) Pay Class A to zero (Sec. 3.05 (vi)(a)) 0.00
(xii) Pay Class B to zero (Sec. 3.05 (vi)(b)) 0.00
(xiii) Pay Certificates, st.Certificate Min. Bal. Target (Sec. 3.0 0.00
(ix) Pay OC Remaining Optimum Monthly Principal (Sec. 3.05 (vi)( 0.00
Remaining Amounts to Issuer (Sec. 3.05 (vii)) 660,311.34
Total Reconciliation Check 0.00
Accelerated Principal Reconciliation 0.00
Optimum Monthly Principal Reconciliation 0.00
BOND SUMMARY:
Beginning Class A Note Security Balance $454,728,228.85
Beginning Class B Note Security Balance $172,196,000.00
Beginning Certificate Security Balance $30,304,000.00
Beginning Overcollateralization Amount $50,672,445.89
Beginning Class A Adjusted Balance $454,728,228.85
Beginning Class B Adjusted Balance $172,196,000.00
Beginning Certficate Adjusted Balance $30,304,000.00
Beginning Overcollateralization Amount $50,672,445.89
Ending Class A Note Security Balance $440,319,286.62
Ending Class B Note Security Balance $172,196,000.00
Ending Certificate Security Balance $30,304,000.00
Ending Overcollateralization Amount $50,819,925.20
Ending Class A Adjusted Balance $440,319,286.62
Ending Class B Adjusted Balance $172,196,000.00
Ending Certficate Adjusted Balance $30,304,000.00
Ending Overcollateralization Amount $50,819,925.20
Class A Note Rate Capped at 13% 5.927500%
Class B Note Rate Capped at 15% 6.312500%
Certificate Rate Capped at 16% 6.717500%
Class A Interest Due $2,246,167.98
Class B Interest Due $905,822.71
Certificate Yield Due $169,639.27
Class A Interest Paid $2,246,167.98
Class B Interest Paid $905,822.71
Certificate Yield Paid $169,639.27
Class A Unpaid Interest $0.00
Class B Unpaid Interest $0.00
Certificate Unpaid Yield $0.00
Class A Principal Paid $14,408,942.23
Class B Principal Paid $0.00
Certificate Principal Paid $0.00
OC Principal Paid $0.00
Beginning Class A Net Charge-Off $0.00
Beginning Class B Net Charge-Off $0.00
Beginning Certificate Net Charge-Off $0.00
Beginning OC Net Charge-Off $0.00
Reversals Allocated to Class A $0.00
Reversals Allocated to Class B $0.00
Reversals Allocated to Certificates $0.00
Reversals Allocated to OC plus Acclerated Principal Payments $147,479.31
Total Charge-Offs: $0.00
Charge-Offs Allocated to Class A $0.00
Charge-Offs Allocated to Class B $0.00
Charge-Offs Allocated to Certificates $0.00
Charge-Offs Allocated to OC $0.00
Ending Class A Net Charge-Off $0.00
Ending Class B Net Charge-Off $0.00
Ending Certificate Net Charge-Off $0.00
Ending OC Net Charge-Off $0.00
Bond Balance Reconciliation (should equal $0.00) ($0.00)
Certificate Balance/Participation Invested Amount (Beginning of Month) 4.2808%
Designated Certificate / Certificate Security (Bal Beg of Month) 1.003168%
Designated Certificate - Beginning of Month $304,000.00
Principal Payments in Respect of Designated Certificate (Sec.3.0 $0.00
Designated Certificate - End of Month $304,000.00
Interest Payments in Respect of Designated Certificate (Sec.3.05 $1,701.77
Designated Certificateholder Accelerated Principal Payments-Beg $3,172,445.89
Accelerated Principal Payment (Sec. 3.05 (v)) $147,479.31
Payments to Holder of Designated Certificate in respect to Acc. Pr $0.00
Designated Certificateholder Accelerated Principal Payments-Endi $3,319,925.20
Designated Certificateholder Holdback Amount (BOM) $47,500,000.00
Payments to Designated Certificates in Reduction of Holdback Amoun $0.00
Designated Certificateholder Holdback Amount (End of Month) $47,500,000.00
Remaining Payments to Designated Certificates (Sec. 3.05 paragraph $0.00
Remaining Amounts to Issuer (Sec. 3.05 (vii)) $660,311.34
MONTHLY SECURITY REPORT
Household Consumer Loan Trust 1995-1
Distribution Date 14-May-97
Payment Date: 15-May-97
Collection Period Beginning 01-Apr-97
Collection Period Ending: 30-Apr-97
Note and Certificate Accrual Beginning: 15-Apr-97
Note and Certificate Accrual Ending: 15-May-97
Ending Pool Principal Balance $3,480,187,223.15
Series 1995-1 Participation Invested Amount $693,639,211.82
Seller Amount $333,066,755.64
Remittances on the Participation $18,390,883.53
Optimum Monthly Principal $14,261,462.92
Accelerated Principal Payment $147,479.31
Beginning Class A Note Security Balance $454,728,228.85
Beginning Class B Note Security Balance $172,196,000.00
Beginning Certificate Security Balance $30,304,000.00
Beginning Overcollateralization Amount $50,672,445.89
Beginning Class A Adjusted Balance $454,728,228.85
Beginning Class B Adjusted Balance $172,196,000.00
Beginning Certficate Adjusted Balance $30,304,000.00
Beginning Overcollateralization Amount $50,672,445.89
Ending Class A Note Security Balance $440,319,286.62
Ending Class B Note Security Balance $172,196,000.00
Ending Certificate Security Balance $30,304,000.00
Ending Overcollateralization Amount $50,819,925.20
Ending Class A Adjusted Balance $440,319,286.62
Ending Class B Adjusted Balance $172,196,000.00
Ending Certificate Adjusted Balance $30,304,000.00
Ending Overcollateralization Amount $50,819,925.20
Class A Note Rate Capped at 13% 5.927500%
Class B Note Rate Capped at 15% 6.312500%
Certificate Rate Capped at 16% 6.717500%
Class A Interest Due $2,246,167.98
Class B Interest Due $905,822.71
Certificate Yield Due $169,639.27
Class A Interest Paid $2,246,167.98
Class B Interest Paid $905,822.71
Certificate Yield Paid $169,639.27
Class A Unpaid Interest $0.00
Class B Unpaid Interest $0.00
Cetificate Unpaid Yield $0.00
Class A Principal Paid $14,408,942.23
Class B Principal Paid $0.00
Certificate Principal Paid $0.00
OC Principal Paid $0.00
Beginning Class A Net Charge-Off $0.00
Beginning Class B Net Charge-Off $0.00
Beginning Certificate Net Charge-Off $0.00
Beginning OC Net Charge-Off $0.00
Reversals Allocated to Class A $0.00
Reversals Allocated to Class B $0.00
Reversals Allocated to Certificates $0.00
Reversals Allocated to OC plus Acclerated Principal Payments $147,479.31
Total Charge-Offs: $0.00
Charge-Offs Allocated to Class A $0.00
Charge-Offs Allocated to Class B $0.00
Charge-Offs Allocated to Certificates $0.00
Charge-Offs Allocated to OC $0.00
Ending Class A Net Charge-Off $0.00
Ending Class B Net Charge-Off $0.00
Ending Certificate Net Charge-Off $0.00
Ending OC Net Charge-Off $0.00
Interest paid per $1,000 Class A 2.994891
Principal paid per $1,000 Class A 19.211923
Interest paid per $1,000 Class B 5.260417
Principal paid per $1,000 Class B 0.000000
Yield Paid per $1,000 Certificate 5.597917
Principal Paid per $1,000 Certificate 0.000000
