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 July 14, 1998
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 July 14, 1998 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 July 15, 1998 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 July 15, 1998 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: July 27, 1998 J. W. Blenke, Authorized Representative
-3-<PAGE>
EXHIBIT INDEX
Exhibit
Number Exhibit Page
5
99 Statement to (a) Series 1995-1 Participants with respect to the
distribution on July 14, 1998 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 July 15, 1998
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 July 15,
1998 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 Consumer Loan Deposit Trust
Collateral Report
Number of Due Periods Since Inception 33
Due Period 01-Jun-98
Distribution Date 14-Jul-98
Payment Date 15-Jul-98
*** Trust Portfolio Summary ***
Annualized Cash Yield 19.45%
Annualized Gross Losses -10.07%
Annualized Portfolio Yield 9.38%
Contractual Delinquency Status of Credit Lines:
(Principal / Principal)
30 - 59 days ($) 209482504.01
30 - 59 days (%) 5.46%
60 - 89 days ($) 73857330.05
60 - 89 days (%) 1.93%
90 - 119 days ($) 50332442.5
90 - 119 days (%) 1.31%
120 - 149 days ($) 42754491.6
120 - 149 days (% 1.11%
150 - 179 days ($) 38355502.43
150 - 179 days (%) 1.00%
180 - 209 days ($) 36959088.64
180 - 209 days (%) 0.96%
210 - 239 days ($) 36406503.35
210 - 239 days (%) 0.95%
240 - 269 days ($) 35040116.89
240 - 269 days (% 0.91%
270 - 299 days ($) 6311493.95
270 - 299 days (%) 0.95%
300+ days ($) 5814636.93
300+ days (%) 0.15%
Additional Balances on Existing Credit Lines
(draws - principal only) 54,804,433.02
Principal Collections 134,361,033.56
Defaulted Receivables 33,126,554.82
Finance Charge & Administrative Collections 62,781,795.25
Recoveries 1,196,122.00
Average Principal Balance 3,947,471,354.82
Personal Homeowner Lines as % of Total Principal 30.11%
Household Finance Corporation
Household Consumer Loan Corporation
Household Consumer Loan Trust Series 1995-1
No. of PMTs Since Issuance: 33
Distribution Date: 14-Jul-98
Payment Date: 15-Jul-98
Collection Period Beginning: 01-Jun-98
Collection Period Ending: 30-Jun-98
Note and Certificate Accrual Beginning: 15-Jun-98
Note and Certificate Accrual Ending: 15-Jul-98
PAYMENT CALCULATIONS:
OC Balance as % of Beginning Participation
Invested Amount 9.95%
OC Balance as % of Ending Participation
Invested Amount 10.26%
OC Balance as % of Ending Participation
Invested Amount (3 consecutiv Test Met
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 527,851,662.54
Denominator - Component (x) - Aggregate
Receivables & Partc. Interest 3,947,471,354.82
Denominator - Component (y) -
Aggregate Numerators 3,752,917,420.09
Applicable Interest Allocation Percentage 13.37%
Principal Allocation Percentage Calculation:
Numerator 527,851,662.54
Denominator - Component (x) - Aggregate
Receivables & Partc. Interest 3,947,471,354.82
Denominator - Component (y) - Aggregate
Numerators 3,757,644,456.93
Applicable Principal Allocation Percentage 13.37%
Default Allocation Percentage Calculation:
Numerator 527,851,662.54
Denominator - Component (x) - Aggregate
Receivables & Partc. Interest 3,947,471,354.82
Denominator - Component (y) - Aggregate
Numerators 3,752,917,420.09
Default Allocation Percentage (Floating
Allocation Percentage) 13.37%
Minimum Principal Amount Calculation:
1.8% of Participation Invested Amount 9,501,329.93
Series Participation Interest
Default Amount (Sec. 4.11 (a)(iii)) 4,429,647.61
Excess of (i) 1.8% of Part. Inv. Amt.
over (ii) Series Part. Interes 5,071,682.32
Minimum Principal Amount 5,071,682.32
Investor Principal Collections 10,638,223.84
Investor Finance Charge and Admin.
Collections (4.11a) 8,555,058.91
Investor Allocated Defaulted Amounts 4,429,647.61
DEPOSIT TRUST CALCULATIONS
Beginning Participation Unpaid Principal Balance 527,851,662.54
Beginning Participation Invested Amount
(Invested Amt on previous D 527,851,662.54
Ending Participation Unpaid Principal Balance 512,783,791.10
Ending Participation Invested Amount
(Invested Amt on current Distri 512,783,791.10
Beginning Participation Unpaid Principal
Balance x (PRIME-1.50%) 3,284,410.34
Note Interest and Certificate Yield Amounts
Due Pursuant to Sec. 3.05 2,410,879.11
Participation Invested Amount x 25bps per annum 109,969.10
Participation Interest Distribution Amount 3,284,410.34
Application of Investor Finance
Charges & Administrative Collections:
Investor Finance Charge and Admin.
Collections (4.11a) 8,555,058.91
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)) 3,284,410.34
Series Participation Interest Default Amount
(Sec. 4.11 (a)(iii)) 4,429,647.61
Reimbursed Series Particpation Interest
Charge-Offs (Sec. 4.11 (a)(i 0.00
Servicing Fee if HFC is the Servicer
(Sec. 4.11 (a)(v)) 841,000.96
Excess (Sec. 4.11 (a)(vi)) (0.00)
Reconciliation Check 0.00
Series Participation Interest Monthly Principal 15,067,871.44
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)(i 0.00
Ending Unreimbursed Participation Interest Charge-Offs 0.00
Available Investor Principal Collections 15,067,871.44
Participation Interest Distribution Amount 3,284,410.34
Series Participation Interest Charge-Offs 0.00
OWNER TRUST CALCULATIONS
Note Interest and Certificate Yield Amounts
Due Pursuant to Sec. 3.05 2,410,879.11
Excess Interest 873,531.23
Beginning Net Charge-Offs 0.00
Reversals 0.00
+Available Investor Principal Collections 15,067,871.44
+Series Participation Interest Charge Offs 0.00
+ Lesser of Excess Interest and Carryover Charge Offs 0.00
Optimum Monthly Principal 15,067,871.44
Are the Notes Retired ? 0.00
Accelerated Principal Payment 109,969.10
Beginning Class A Security Balance 272,856,253.32
Beginning Class B Security Balance 172,196,000.00
Beginning Certificate Security Balance 30,304,000.00
Beginning Overcollateralization Amount plus APP 52,605,378.32
Beginning Class A Adjusted Balance 272,856,253.32
Beginning Class B Adjusted Balance 172,196,000.00
Beginning Certficate Adjusted Balance 30,304,000.00
Beginning Overcollateralization Amount plus APP 52,605,378.32
Class A Balance After Payment pursuant
to Clause(iv) 257,788,381.88
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 15,539,400.01
Scheduled Certificate Payment to
Certificate Minimum Balance Target 14,764,599.99
Class A Targeted Balance 256,391,895.55
Class B Targeted Balance 188,333,516.38
Certificate Targeted Balance 34,084,949.07
Class A: Payment Required to get to Target 16,464,357.77
Class B: Payment Required to get to
Target or Minimum Adjusted Balan 0.00
Certificate: Payment Required to get to
Target or Minimum Adjusted B 0.00
OC: Payment to get to Minimum Overcollateralization
Amount 36,772,044.99
Section 3.05 Payment of Principal and Interest;
Defaulted Interest 0.00
Pay Certificate Yield in step (i) (1= Yes) 1.00
Remittances on the Participation 18,352,281.78
Interest and Yield
(i) Pay Class A Interest Distribution
(Sec. 3.05 (i)(a)) 1,340,690.57
(ii) Pay Class B Interest Distribution
(Sec. 3.05 (i)(b)) 901,338.44
(iii) Pay Certificates the Certificate Yield
(Sec. 3.05 (i)(c)) 168,850.10
Principal up to Optimum Monthly Principal
(iv) Pay Class A to Targeted Principal Balance
(Sec. 3.05 (ii)(a)) 15,067,871.44
(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 (i)( 0.00
Principal up to Optimal Monthly Principal
(vi) Pay Certificate to Targeted Principal Balance
(Sec. 3.05 (iii) 0.00
(vii) Pay OC Remaining Optimal Monthly Principal
Amount (Sec. 3.05 ( 0.00
Principal up to the Accelerated Principal Payment Amount
(viii) (a ) Pay Class A to Targeted Principal
Balance (Sec. 3.05 (v 109,969.10
(viii) (b ) Pay Class B to Targeted Principal
Balance (Sec. 3.05 (v 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. 3.05 ( 0.00
(ix) Pay OC Remaining Optimum Monthly Principal
(Sec. 3.05 (vi)(d)) 0.00
Remaining Amounts to Issuer (Sec. 3.05 (vii)) 763,562.14
Total Reconciliation Check (shou 0.00
Accelerated Principal Reconciliation(should equal $ 0.00
Optimum Monthly Principal Reconciliation 0.00
BOND SUMMARY:
Beginning Class A Note Security Balance $272,856,253.32
Beginning Class B Note Security Balance $172,196,000.00
Beginning Certificate Security Balance $30,304,000.00
Beginning Overcollateralization Amount $52,495,409.22
Beginning Class A Adjusted Balance $272,856,253.32
Beginning Class B Adjusted Balance $172,196,000.00
Beginning Certficate Adjusted Balance $30,304,000.00
Beginning Overcollateralization Amount $52,495,409.22
Ending Class A Note Security Balance $257,678,412.78
Ending Class B Note Security Balance $172,196,000.00
Ending Certificate Security Balance $30,304,000.00
Ending Overcollateralization Amount $52,605,378.32
Ending Class A Adjusted Balance $257,678,412.78
Ending Class B Adjusted Balance $172,196,000.00
Ending Certficate Adjusted Balance $30,304,000.00
Ending Overcollateralization Amount $52,605,378.32
Class A Note Rate Capped at 13% 5.896250%
Class B Note Rate Capped at 15% 6.281250%
Certificate Rate Capped at 16% 6.686250%
Class A Interest Due $1,340,690.57
Class B Interest Due $901,338.44
Certificate Yield Due $168,850.10
Class A Interest Paid $1,340,690.57
Class B Interest Paid $901,338.44
Certificate Yield Paid $168,850.10
Class A Unpaid Interest $0.00
Class B Unpaid Interest $0.00
Certificate Unpaid Yield $0.00
Class A Principal Paid $15,177,840.54
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 $109,969.10
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 5.7410%
Designated Certificate / Certificate Security
(Balance Beginning of M 1.003168%
Designated Certificate - Beginning of Month $304,000.00
Principal Payments in Respect of Designated
Certificate (Sec. 3.05 ( $0.00
Designated Certificate - End of Month $304,000.00
Interest Payments in Respect of Designated
Certificate (Sec. 3.05 (i) $1,693.85
Designated Certificateholder Accelerated
Principal Payments - Beginni $4,995,409.22
Accelerated Principal Payment (Sec. 3.05 (v)) $109,969.10
Payments to Holder of Designated Certificate
in respect to Acc. Prin. $0.00
Designated Certificateholder Accelerated
Principal Payments - Ending $5,105,378.32
Designated Certificateholder Holdback
Amount (Beginning of Month) $47,500,000.00
Payments to Designated Certificates in
Reduction of Holdback Amount ( $0.00
Designated Certificateholder Holdback
Amount (End of Month) $47,500,000.00
Remaining Payments to Designated Certificates $0.00
Remaining Amounts to Issuer (Sec. 3.05 (vii)) $763,562.14
Monthly Security Report $0.00
Household Consumer Loan Trust 1995-1 $0.00
Distribution Date 14-Jul-98
Payment Date: 15-Jul-98
Collection Period Beginning 01-Jun-98
Collection Period Ending: 30-Jun-98
Note and Certificate Accrual Beginning: 15-Jun-98
Note and Certificate Accrual Ending: 15-Jul-98
Ending Pool Principal Balance $3,835,069,297.72
Series 1995-1 Participation Invested Amount $512,783,791.10
Seller Amount $189,376,631.32
Remittances on the Participation $18,352,281.78
Optimum Monthly Principal $15,067,871.44
Accelerated Principal Payment $109,969.10
Beginning Class A Note Security Balance $272,856,253.32
Beginning Class B Note Security Balance $172,196,000.00
Beginning Certificate Security Balance $30,304,000.00
Beginning Overcollateralization Amount $52,495,409.22
Beginning Class A Adjusted Balance $272,856,253.32
Beginning Class B Adjusted Balance $172,196,000.00
Beginning Certficate Adjusted Balance $30,304,000.00
Beginning Overcollateralization Amount $52,495,409.22
Ending Class A Note Security Balance $257,678,412.78
Ending Class B Note Security Balance $172,196,000.00
Ending Certificate Security Balance $30,304,000.00
Ending Overcollateralization Amount $52,605,378.32
Ending Class A Adjusted Balance $257,678,412.78
Ending Class B Adjusted Balance $172,196,000.00
Ending Certificate Adjusted Balance $30,304,000.00
Ending Overcollateralization Amount $52,605,378.32
Class A Note Rate Capped at 13% 5.896250%
Class B Note Rate Capped at 15% 6.281250%
Certificate Rate Capped at 16% 6.686250%
Class A Interest Due $1,340,690.57
Class B Interest Due $901,338.44
Certificate Yield Due $168,850.10
Class A Interest Paid $1,340,690.57
Class B Interest Paid $901,338.44
Certificate Yield Paid $168,850.10
Class A Unpaid Interest $0.00
Class B Unpaid Interest $0.00
Cetificate Unpaid Yield $0.00
Class A Principal Paid $15,177,840.54
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 $109,969.10
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 1.787587
Principal paid per $1,000 Class A 20.237121
Interest paid per $1,000 Class B 5.234375
Principal paid per $1,000 Class B 0.000000
Yield Paid per $1,000 Certificate 5.571875
Principal Paid per $1,000 Certificate 0.000000
Bloomberg Summary
Household Consumer Loan Trust 1995-1
Distribution Date 15-Jul-98
Due Period Jun-98
Monthly Payment Rate (including charge offs) 4.24%
Monthly Draw Rate 1.39%
Monthly Net Payment Rate 2.85%
Actual Payment Rate 2.85%
Annualized Cash Yield 19.45%
Annualized Gross Losses 10.07%
Annualized Portfolio Yield 9.38%
Weighted Coupon 6.09%
Excess Servicing 3.29%
Ending Overcollateralization Percentage 10.26%
Trigger Level 4.75%
Excess Overcollateralization 5.51%
Delinquencies:
(Principal/Principal)
30-59 days (Del Stat 1) 5.46%
60-89 days (Del Stat 2) 1.93%
90+ days (Del Stat 3+) 7.35%
Total Participation Balance (ending) 512,783,791.10
