-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, MPWXb/7aLF+5U3oqcRJ2fajTCdWRW/Bq0E1zFjvKxMTGlHxXFk4xleWK43COFdYo DF8FnTKKPK7vLRbseRIY/w== 0001001329-97-000003.txt : 19970226 0001001329-97-000003.hdr.sgml : 19970226 ACCESSION NUMBER: 0001001329-97-000003 CONFORMED SUBMISSION TYPE: 10-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 19961231 FILED AS OF DATE: 19970225 SROS: NONE FILER: COMPANY DATA: COMPANY CONFORMED NAME: HOUSEHOLD CREDIT CARD MASTER TRUST I CENTRAL INDEX KEY: 0001001329 STANDARD INDUSTRIAL CLASSIFICATION: ASSET-BACKED SECURITIES [6189] STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 10-K SEC ACT: 1934 Act SEC FILE NUMBER: 033-97296-01 FILM NUMBER: 97542670 BUSINESS ADDRESS: STREET 1: 1111 TOWN CENTER DR CITY: LAS VEGAS STATE: NV ZIP: 89134 BUSINESS PHONE: 8475647968 MAIL ADDRESS: STREET 1: 1111 TOWN CENTER DR CITY: LAS VEGAS STATE: NV ZIP: 89134 10-K 1 SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) [X] ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 1996 OR [ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ______ to _______ Commission File No. 33-97296 HOUSEHOLD CREDIT CARD MASTER TRUST I (Exact name of Registrant as specified in Department of the Treasury, Internal Revenue Service Form SS-4) HOUSEHOLD FINANCE CORPORATION (Servicer of the Trust) (Exact name as specified in Servicer's charter) DELAWARE 36-3670374 (State or other jurisdiction of (I.R.S. Employer incorporation of Servicer) Identification Number of Registrant) 2700 SANDERS ROAD, PROSPECT HEIGHTS, ILLINOIS 60070 (Address of principal executive offices of (Zip Code) Servicer) Servicer's telephone number, including area code (847) 564-5000 Indicate by check mark whether the Registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the Registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes X No _____ The aggregate principal amount of the Certificates held by non- affiliates of the Servicer as of December 31, 1996 was approximately $1.7 billion. INTRODUCTORY NOTE Household Card Funding Corporation (the "Transferor") is the transferor under a Pooling and Servicing Agreement (the "Agreement") dated as of December 1, 1995, by and among the Transferor, Household Finance Corporation, as Servicer (the "Servicer") and The Bank of New York, as trustee (the "Trustee"), as supplemented by the Series Supplements, providing for the issuance of Credit Card Participation Certificates (the "Certificates"), and is the originator of the trust called the Household Credit Card Master Trust I (the "Registrant" or the "Trust"). Each Certificate represents an undivided interest in the Trust. The Series 1995-1 Supplement dated as of December 1, 1995, (the "Series 1995-1 Supplement") among the Transferor, the Servicer and the Trustee created a Series of Investor Certificates designated as Household Credit Cared Master Trust, Series 1995- 1;consisting of two classes; a senior class designated as Floating Rate Class A Credit Card Participation Certificates, Series 1995-1 and a subordinated class designated as Floating Rate Class B Credit Card Participation Certificates, Series 1995-1. In additional, there is a Seller Certificate outstanding representing an undivided interest in the Trust that is not otherwise represented by the Series 1995-1 Investor Certificates. The Registrant has prepared this Form 10-K in reliance upon various no-action letters issued by the Securities and Exchange Commission (the "Commission") to other trusts which are substantially similar to the Trust. Items designated herein as "Not Applicable" have been omitted as a result of this reliance. PART I Item 1. Business. Not Applicable. Item 2. Properties. Not Applicable. Item 3. Legal Proceedings. The Servicer is not aware of any material pending legal proceedings involving either the Registrant, the Trustee, the Seller or the Servicer with respect to the Certificates or the Registrant's property. Item 4. Submission of Matters to a Vote of Security Holders. No vote or consent of the holders of the Certificates (the "Certificateholders") was solicited for any purpose during the year ended December 31, 1996. PART II Item 5. Market for Registrant's Common Equity and Related Stockholder Matters. To the best knowledge of the Servicer, there is no established public trading market for the Certificates. As of January 31, 1997, there were 5 Class A Certificateholders and 9 Class B Certificateholders, some of whom may be holding Certificates for the accounts of others. Item 6. Selected Financial Data. Not Applicable. Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations. Not Applicable. Item 8. Financial Statements and Supplementary Data. Not Applicable. Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure. None. PART III Item 10. Directors and Executive Officers of the Registrant. Not Applicable. Item 11. Executive Compensation. Not Applicable. Item 12. Security Ownership of Certain Beneficial Owners and Management. The following table sets forth (i) the name and address of each entity owning more than 5% of the outstanding principal amount of the Class A or the Class B Certificates; (ii) the principal amount of Certificates owned by each and (iii) the percent that the principal amount of Certificates owned represents of the outstanding principal amount of the Class A or the Class B Certificates. The information set forth in the table is based upon information obtained by the Servicer from the Trustee and from The Depository Trust Company as of January 31, 1997. The Servicer is not aware of any Schedules 13D or 13G filed with the Securities and Exchange Commission in respect of the Certificates. Amount Owned All dollar amounts are in thousands Name and Address Principal Percent Class A Certificateholders Bank of New York $1,197,000 79.80 925 Patterson Plank Road Secaucus, NJ 07094 Chase Manhattan Bank, N.A. $ 300,000 20.00 One Chase Manhattan Plaza 3B - Proxy Department New York, NY 10081 Amount Owned All dollar amounts are in thousands Name and Address Principal Percent Class B Certificateholders Bankers Trust Company $ 16,175 7.55 c/o BT Services Tennessee Inc. Pension Trust Services 648 Grassmere Park Drive Nashville, TN 37211 Bankers Trust Co./Investment A/C $ 15,000 7.00 16 Wall Street - 5th Floor New York, Ny 10005 Chase Manhattan Bank $ 35,000 16.33 One Chase Manhattan Plaza 3B - Proxy Department New York, NY 10081 Chase Manhattan Bank/Chemical $ 32,286 15.07 Auto Settle Department 4 New York Plaza, 4th Floor New York, NY 10004 First National Bank of Chicago $ 25,000 11.67 c/o ADP Proxy Services 51 Mercedes Way Edgewood, NY 11717 Swiss American Securities, Inc. $ 72,000 33.60 c/o ADP Proxy Services 51 Mercedes Way Edgewood, NY 11717 Item 13. Certain Relationships and Related Transactions. None or Not Applicable. PART IV Item 14. Exhibits, Financial Statement Schedules, and Reports on Form 8-K. (a) List the following documents filed as a part of the report: (1) Financial Statements Not Applicable. (2) Financial Statement Schedules Not Applicable. (3) The Servicer is obligated to prepare an Annual Statement to Certificateholders for the year 1996, and Independent Public Accountants are required to prepare an Annual Servicing Report pertaining to the compliance of the Servicer with its servicing obligations pursuant to the Agreement. Copies of said documents are or will be filed as exhibits to this Form 10-k when they are available. (b) The Registrant filed the following current reports on Form 8-K for the fourth quarter of 1996: Date of Reports Items Covered October 15, 1996 Item 7 -- Statement to November 15, 1996 Certificateholders with respect December 16, 1996 to distributions made on October 15, 1996, November 15, 1996 and December 16, 1996. (c) Exhibit 99. Copy of Annual Statement to Certificateholders for the year 1996. (d) Not Applicable. 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 Credit Card Trust 1995-1 by the undersigned, thereunto duly authorized. HOUSEHOLD FINANCE CORPORATION, as Servicer of and on behalf of the HOUSEHOLD CREDIT CARD TRUST 1995-1 (Registrant) Date: February 17, 1997 By:John W. Blenke John W. Blenke Assistant Secretary U:\WP\HFS088\95-10K\CC95-1 Exhibit Index Exhibit No. Exhibit Page No. 99 Copy of Annual Statement to Certificateholders for the year ended December 31, 1996. EX-99 2 Household Finance Corporation Household Card Funding Corp. Household Credit Card Master Trust I , Series 1995-1 CLASS A CERTIFICATEHOLDER'S STATEMENT Sum of 1/16/96 to 12/16/96 Distributions A. Information Regarding Distributions 1. Total distribution per $1,000 interest 57.69454027 2. Principal distribution per $1,000 interest 0.00000000 3. Interest distribution per $1,000 interest 57.69454027 B. Calculation of Class A Interest 1. Calculation of Class A Certificate Rate (a) One-month LIBOR N/A (b) Spread N/A (c) Class A Certificate Rate N/A 2. Beginning Invested Amount N/A 3. Days in Interest Period N/A C. Performance of Trust 1. Collections of Receivables (a) Total Collections 2,978,495,840.83 (b) Collections of Finance Charge and Administrative Receivables 497,900,630.74 (c) Collections of Principal 2,480,595,210.09 2. Allocation of Receivables (a) Class A Invested Percentage 75.000% (b) Principal Allocation Percentage N/A 3. Gross Delinquent Balances (a) Delinquent 5 - 29 days 192,268,699.75 % of Gross Receivables 6.01% (b) Delinquent 30 - 59 days 60,666,559.16 % of Gross Receivables 1.90% (c) Delinquent 60+ days 140,680,760.21 % of Gross Receivables 4.39% 4. Class A Investor Default Amount 93,930,357.67 CLASS A CERTIFICATEHOLDER'S STATEMENT Sum of 1/16/96 to 12/16/96 Distributions 5. Class A Investor Charge-offs; Reimbursement of Charge-offs (a) Class A Investor Charge-offs, if any, for the Distribution Date 0.00 (b) The amount of Item 5.(a) per $1,000 interest 0.00 (c) Total reimbursed to Trust in respect of Class A Investor Charge-offs 0.00 (d) The amount of Item 5.(c) per $1,000 interest 0.00 (e) The amount, if any, by which the outstanding principal balance of the Class A Certificates exceeds the class A Invested Amount as of the end of the Distribution Date 0.00 6. Allocable Servicing Fee paid for the Distribution Date 39,999,999.96 7. Deficit Controlled Amortization Amount for the Distribution Date 0.00 D. Class A Pool Factor 1.000000 E. Receivables Balances 1. Principal Receivables as of the last day of the preceding Due Period 3,144,621,647.66 2. Finance Charge and Administrative Receivables as of the last day of the preceding Due Period 56,692,168.92 F. Class B Certificates 1. Class B Invested Amount as of the end of the Distribution Date 214,286,000.00 2. Available Collateral Invested Amount as of the end of the Distribution Date 285,714,000.00 Household Finance Corporation Household Card Funding Corp. Household Credit Card Master Trust I , Series 1995-1 CLASS B CERTIFICATEHOLDER'S STATEMENT Sum of 1/16/96 to 12/16/96 Distributions A. Information Regarding Distributions 1. Total distribution per $1,000 interest 59.52954029 2. Principal distribution per $1,000 interest 0.00000000 3. Interest distribution per $1,000 interest 59.52954029 B. Calculation of Class B Interest 1. Calculation of Class B Certificate Rate (a) One-month LIBOR N/A (b) Spread N/A (c) Class B Certificate Rate N/A 2. Beginning Invested Amount N/A 3. Days in Interest Period N/A C. Performance of Trust 1. Collections of Receivables (a) Total Collections 2,978,495,840.83 (b) Collections of Finance Charge and Administrative Receivables 497,900,630.74 (c) Collections of Principal 2,480,595,210.09 2. Allocation of Receivables (a) Class B Invested Percentage 10.7143% (b) Principal Allocation Percentage N/A 3. Gross Delinquent Balances (a) Delinquent 5 - 29 days 192,268,699.75 % of Gross Receivables 6.01% (b) Delinquent 30 - 59 days 60,666,559.16 % of Gross Receivables 1.90% (c) Delinquent 60+ days 140,680,760.21 % of Gross Receivables 4.39% 4. Class B Investor Default Amount 13,418,640.42 CLASS B CERTIFICATEHOLDER'S STATEMENT Sum of 1/16/96 to 12/16/96 Distributions 5. Class B Investor Charge-offs; Reimbursement of Charge-offs (a) Class B Investor Charge-offs, if any, for the Distribution Date 0.00 (b) The amount of Item 5.(a) per $1,000 interest 0.00 (c) Total reimbursed to Trust in respect of Class B Investor Charge-offs 0.00 (d) The amount of Item 5.(c) per $1,000 interest 0.00 (e) The amount, if any, by which the outstanding principal balance of the Class B Certificates exceeds the Class B Invested Amount as of the end of the Distribution Date 0.00 6. Available Cash Collateral Amount (a) Available Cash Collateral Amount at the end of the Distribution Date 0.00 (b) Available Cash Collateral Amount as a percent of the Class B Invested Amount, each at the end of the Distribution Date 0.00% 7. Available Collateral Invested Amount 285,714,000.00 8. Deficit Controlled Amortization Amount for the Distribution Date 0.00 D. Class B Pool Factor 1.0000000 E. Receivables Balances 1. Principal Receivables as of the last day of the preceding Due Period 3,144,621,647.66 2. Finance Charge and Administrative Receivables as of the last day of the preceding Due Period 56,692,168.92 -----END PRIVACY-ENHANCED MESSAGE-----