-----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, Ous/mzVqN0R3OvC7nPLk9xvuFB6fvkVhnv+T1sieK/01mVIYA4MtNPlTbiKRGTD+ c412ONVXfpKMPkDNR2qP1g== 0001001329-98-000003.txt : 19980414 0001001329-98-000003.hdr.sgml : 19980414 ACCESSION NUMBER: 0001001329-98-000003 CONFORMED SUBMISSION TYPE: 10-K/A PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 19971231 FILED AS OF DATE: 19980413 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/A SEC ACT: SEC FILE NUMBER: 033-97296-01 FILM NUMBER: 98592372 BUSINESS ADDRESS: STREET 1: 2700 SANDERS RD CITY: PROSPECT HEIGHTS STATE: IL ZIP: 60070 BUSINESS PHONE: 8475647968 MAIL ADDRESS: STREET 1: 1111 TOWN CENTER DR CITY: LAS VEGAS STATE: NV ZIP: 89134 10-K/A 1 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, 1997 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 Nos. 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 Identification incorporation of Servicer) 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 SIGNATURES Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, the Servicer has duly caused this amendment to be signed on behalf of the Household Credit Card Master Trust I by the undersigned, thereunto duly authorized. HOUSEHOLD FINANCE CORPORATION, as Servicer of and on behalf of the HOUSEHOLD CREDIT CARD MASTER TRUST I (Registrant) Date: April 3, 1998 By:/s/John W. Blenke John W. Blenke Assistant Secretary U:\WP\HFS088\95-10K\HCCMT.AMD Exhibit Index Exhibit No. Exhibit Page No. 99 Copy of Independent Public Accountants 4 Annual Servicing Report dated March 26, 1998. EX-99 2 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 December 1, 1995, as supplemented (the "Agreement"). 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, 1997, and have issued our report thereon dated January 23, 1998. We have not audited any financial statements of the Servicer as of any date or for any period subsequent to December 31, 1997, 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, 4.10, 4.11, 4.12, 4.13, 4.14, 4.15, 4.16, and 4.17 (to the extent such sections are applicable to Household Finance Corporation as Servicer) of the Series 1995-1, Series 1996-A, and Series 1996-B Supplements, in conjunction with the servicing of consumer revolving credit card receivables owned by the Household Credit Card Master 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 consumer revolving credit card 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 Credit Card Master Trust I. Our audit disclosed no exceptions or errors in records relating to credit card receivables 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, the Bank of New York as Trustee, and the Credit Enhancement Provider (together, the "Specified Users"), with respect to Section 3.06 of the Agreement, in conjunction with the servicing of consumer revolving credit card receivables owned by the Household Credit Card Master 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. The procedure and associated findings are as follows: From the Monthly Servicer's Certificates prepared by the Servicer between January, 1997 and December, 1997, we selected the following months and performed the following: We have compared the mathematical calculation of each amount set forth in the Monthly Servicer's Certificates to the Servicer's computer reports for the months of May, 1997, and November, 1997, for Series 1995-1, Series 1996-A, and Series 1996-B and found them to be in agreement. 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. /s/ Arthur Andersen LLP Chicago Illinois March 26, 1998 -----END PRIVACY-ENHANCED MESSAGE-----