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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 10-K/A
ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
For the fiscal year ended December 31, 1999
Purpose: To supplement in part Part IV, Item 14(c) of Company's
previously filed Form 10-K in order to file as an
exhibit the Annual Servicing Report of Company's
Independent Public Accountants.
Commission File No. 0-28110
HOUSEHOLD CONSUMER LOAN TRUST 1995-1
(Exact name of Registrant as specified in Department
of the Treasury, Internal Revenue Service Form SS-4)
HOUSEHOLD FINANCE CORPORATION
(Administrator of the Trust)
(Exact name as specified in Administrator's charter)
DELAWARE 36-3670374
(State or other jurisdiction of (I.R.S. Employer
incorporation of Administrator) Identification 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
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SIGNATURES
Pursuant to the requirements of Section 13 or 15(d) of the
Securities Exchange Act of 1934, the Servicer has duly caused this
report to be signed on behalf of the Household Consumer Loan Trust
1995-1 by the undersigned, thereunto duly authorized.
HOUSEHOLD FINANCE CORPORATION,
as Administrator of and on behalf of the
HOUSEHOLD CONSUMER LOAN TRUST 1995-1
(Registrant)
Date: May 8, 2000 By: /s/ John W. Blenke
John W. Blenke
Assistant Secretary
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Exhibit Index
Exhibit No. Exhibit
99 Copy of Independent Public Accountants Annual Servicing
Report dated March 28, 2000.
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Independent Accountants' Report on Applying Agreed-Upon Procedures
To Household Finance Corporation:
We have performed procedures enumerated below in items A. and B. in
conjunction with Section 3.06 of the Pooling and Servicing Agreement,
dated September 1, 1995, as supplemented (the "Agreement").
A.We have audited, in accordance with generally accepted auditing
standards, the consolidated financial statements of Household Finance
Corporation (the "Servicer") and subsidiaries as of December 31, 1999,
and have issued our report thereon dated January 14, 2000. We have not
audited any financial statements of the Servicer as of any date or for
any period subsequent to December 31, 1999, or performed any audit
procedures subsequent to the date of our report on those statements.
In connection with our audit, nothing came to our attention that caused
us to believe that the Servicer was not in compliance with any of the
terms, covenants, provisions, or conditions in Sections 3.01, 3.02,
3.04, 3.09, 3.10, 4.02, 4.03, 4.04, and 8.08 (to the extent such
sections are applicable to Household Finance Corporation as Servicer)
of the Agreement, or Sections 3, 4.08, 4.09, 4.11, and 4.12, (to the
extent such sections are applicable to Household Finance Corporation as
Servicer) of the Series 1995-1, Series 1996-1, Series 1996-2, Series
1997-1, Series 1997-2, Series 1997-A, Series 1998-B, Series 1999-A,
Series 1999-A2, Series 1999-B2, Series 1999-C2, and Series 1999-D2.
Supplements in conjunction with the servicing of revolving unsecured
consumer lines of credit owned by the Household Consumer Loan Deposit
Trust I insofar as they relate to accounting matters. It should be
noted, however, that our audit was not directed primarily toward
obtaining knowledge of such noncompliance.
As a part of our audit, we obtained an understanding of the Servicer's
internal control structure over the Servicer's entire revolving
unsecured consumer lines of credit portfolio, including those loans
serviced under the Agreement, and the related Supplements, to the
extent considered necessary in order to assess control risk as required
by generally accepted auditing standards. The purpose of our
consideration of the internal control structure, which includes the
accounting systems, was to determine the nature, timing, and extent of
the auditing procedures necessary for expressing an opinion on the
financial statements. Such audit procedures, however, were not
performed in order to express a separate opinion on the Household
Consumer Loan Deposit Trust I.
Our audit disclosed no exceptions or errors in records relating to
revolving unsecured consumer lines of credit serviced by the Servicer
that, in our opinion, Section 3.06 of the Agreement required us to
report.
B. We have performed the procedure described in the following
paragraph, which was agreed to by the management of the Servicer,
and the Chase Bank of Texas National Association, formerly known as
the Texas Commerce Bank as Trustee (together, the "Specified
Users"), with respect to Section 3.06 of the Agreement, in
conjunction with the servicing of revolving unsecured consumer lines
of credit owned by the Household Consumer Loan Deposit Trust I.
This agreed-upon procedure was performed in accordance with
standards established by the American Institute of Certified Public
Accountants. The sufficiency of the procedure is solely the
responsibility of the Specified Users of the report. Consequently,
we make no representation regarding the sufficiency of the procedure
described below either for the purpose for which this report has
been requested or for any other purpose.
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The procedure and associated findings are as follows:
From the Monthly Servicer's Certificates prepared by the
Servicer between January, 1999 and December, 1999, we selected the
following months and performed the following procedure:
We have compared the mathematical calculation of each amount
set forth in the Monthly Servicer's Certificates to the
Servicer's accounting records for the months of March, 1999,
and May, 1999, for Series 1995-1, Series 1996-1, Series 1996-
2, Series 1997-1, Series 1997-2, Series 1997-A, and for the
month of May for Series 1998-B, Series 1999-A2, and Series
1999-C2, and the month of November for Series 1999-A2, Series
1999-B2, and Series 1999-D2, and for the month of October for
Series 1999-B2, and Series 1999-D2, and found them to be in
agreement. For Series 1999-A, we noted no activity in the
series for the period between January, 1999 and December,
1999. Our comparisons were based on records provided to us
by the Servicer and the methodology set forth in the
Agreement.
With respect to the procedure performed in item B. above, we were not
engaged to, and did not, perform an audit, the objective of which would
be the expression of an opinion on the Monthly Servicer's Certificates
described above. Accordingly, we do not express such an opinion. Had
we been engaged to perform additional procedures, other matters might
have come to our attention that would have been reported to you.
This report is intended solely for the information and use of the
Specified Users and should not be used for any other purpose.
ARTHUR ANDERSEN LLP
Chicago, Illinois
March 28, 2000
