8-K

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:               October 12, 2001
HOUSEHOLD CONSUMER LOAN TRUST 1997-1              (Exact name of registrant as specified in its charter)
HOUSEHOLD FINANCE CORPORATION                       (Administrator of the Trust) (Exact name as specified in Administrators charter)
Delware       (State or other jurisdiction of incorporation of Administrator)		333-20147        (Commission File Numbers)		To be Applied For (IRS Employer Identification)
2700 Sanders Road, Prospect Heights, Illinois                         (Address of principal executive offices of Administrator)					60070         (Zip Code)
Administrators telephone number, including area code 847/564-5000
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Item 7.     FINANCIAL STATEMENTS AND EXHIBITS
(c)   Exhibits
99	Statement to Series 1997-1 Participants with respect to the distribution on October 12, 2001 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 1997-1 Supplement to the Pooling and Servicing Agreement, (b) Noteholders with respect to the Payment Date on October 15, 2001 as provided for under Section 3.23 of the Indenture dated as of March 1, 1997 between Household Consumer Loan Trust 1997-1 and The Bank of New York, as Indenture Trustee, and (c) Certificateholders with respect to the Payment Date on October 15, 2001 as provided for under Section 5.04 of the Trust Agreement dated as of March 1, 1997 between Household Consumer Loan Corporation and The Chase Manhattan Bank Delaware, as Owner Trustee.
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 1997-1             (Registrant)
			By:  /s/ J. W. Blenke                                    J. W. Blenke        Authorized Representative
Dated: October 24, 2001
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EXHIBIT INDEX
Exhibit Number	Exhibit
99	Statement to Series 1997-1 Participants with respect to the distribution on October 12, 2001 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 1997-1 Supplement to the Pooling and Servicing Agreement, (b) Noteholders with respect to the Payment Date on October 15, 2001 as provided for under Section 3.23 of the Indenture dated as of March 1, 1997 between Household Consumer Loan Trust 1997-1 and The Bank of New York, as Indenture Trustee, and (c) Certificateholders with respect to the Payment Date on October 15, 2001 as provided for under Section 5.04 of the Trust Agreement dated as of March 1, 1997 between Household Consumer Loan Corporation and The Chase Manhattan Bank Delaware, as Owner Trustee.
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EX-99

Household Consumer Loan Trust, Series 1997-1 Deposit Trust Calculations
Previous Due Period Ending	Aug 31, 2001
Current Due Period Ending	Sep 30, 2001
Prior Distribution Date	Sep 14, 2001
Distribution Date	Oct 12, 2001
Beginning Trust Principal Receivables	3,458,437,163.22
Average Principal Receivables	3,458,244,234.29
FC&A Collections (Includes Recoveries)	55,283,910.20
Principal Collections	85,254,365.49
Additional Balances	34,953,312.55
Net Principal Collections	50,301,052.94
Defaulted Amount	21,501,415.93
Miscellaneous Payments	0.00
Principal Recoveries	2,643,347.00
Beginning Participation Invested Amount	257,843,409.25
Beginning Participation Unpaid Principal Balance	257,843,409.25
Ending Participation Invested Amount	252,170,854.25
Ending Participation Unpaid Principal Balance	252,170,854.25
Accelerated Amortization Date	Feb 28, 2002
Is it the Accelerated Amortization Period? 0=No	0
OC Balance as % of Ending Participation Invested Amount (3 month average)	8.521%
Is it Early Amortization? (No, if 3 month OC Average >or=4.25%)	0
Investor Finance Charges and Administrative Collections
Numerator for Floating Allocation	257,843,409.25
Numerator for Fixed Allocation	263,643,567.74
Denominator - Max(Sum of Numerators, Principal Receivables)	3,458,244,234.29
Applicable Allocation Percentage	7.4559%
Investor FC&A Collections	4,121,915.90
Series Participation Interest Default Amount
Numerator for Floating Allocation	257,843,409.25
Denominator - Max(Sum of Numerators, Principal Receivables)	3,458,244,234.29
Floating Allocation Percentage	7.4559%
Series Participation Interest Default Amount	1,603,125.17
Principal Allocation Components
Numerator for Floating Allocation	257,843,409.25
Numerator for Fixed Allocation	263,643,567.74
Denominator - Max(Sum of Numerators, Principal Receivables)	3,458,244,234.29
Series Participation Interest Monthly Interest
(a) Series Participation Interest Pass Through Rate, [Max(b,c)]	5.0000%
(b) Prime Rate minus 1.50%	5.0000%
(c) Rate Sufficient to Cover Interest, Yield and Accelerated Principal Pmt Amount	3.7254%
(d) Series Participation Interest Unpaid Principal Balance	257,843,409.25
(e) Actual days in the Interest Period	28
Series Participation Monthly Interest, [a*d*e]	1,002,724.37
Series Participation Interest Interest Shortfall	0.00
Previous Series Participation Interest Interest Shortfall	0.00
Additional Interest	0.00
Series Participation Interest Monthly Principal
Available Investor Principal Collections, [a+m+n]	5,672,555.00
(a) Investor Principal Collections, [Max(b,h) or e]	4,069,429.83
(b) prior to Accelerated Amort. Date or not Early Amort. Period, [c*d]	3,750,398.79
(c) Floating Allocation Percentage	7.4559%
(d) Net Principal Collections	50,301,052.94
(e) after Accelerated Amort Date or Early Amort Period, [f*g]	6,499,473.02
(f) Fixed Allocation Percentage	7.6236%
(g) Collections of Principal	85,254,365.49
(h) Minimum Principal Amount, [Min(i,l)]	4,069,429.83
(i) Floating Allocation Percentage of Principal Collections	6,356,484.61
(j) 2.2% of the Series Participation Interest Invested Amount	5,672,555.00
(k) Series Participation Interest Net Default Payment Amount	1,603,125.17
(l) the excess of (j) over (k)	4,069,429.83
(m) Series Participation Interest Net Default Payment Amount	1,603,125.17
(n) Optional Repurchase Amount (principal only) at Sec. 9	0.00
Application of Investor Finance Charges and Admin Collections
Investor Finance Charges and Admin. Collections [Sec. 4.11(a)]	4,121,915.90
Series Servicing Fee paid if HFC is not the Servicer [Sec. 4.11(a)(i)]	0.00
plus any unpaid Series Servicing Fee of other than HFC	0.00
Series Participation Interest Monthly Interest [Sec. 4.11(a)(ii)]	1,002,724.37
Series Participation Interest Interest Shorfall [Sec. 4.11(a)(ii)]	0.00
Additional Interest [Sec. 4.11(a)(ii)]	0.00
Series Participation Interest Default Amount [Sec. 4.11(a)(iii)]	1,603,125.17
Reimbursed Series Participation Interest Charge-Offs [Sec. 4.11(a)(iv)]	0.00
Servicing Fee Paid [Sec. 4.11(a)(v)]	429,739.02
Excess [Sec. 4.11(a)(vi)]	1,086,327.34
Series Participation Investor Charge Off [Sec. 4.12(a)]	0.00
Seller's Interest	1,632,145,966.25

EX-99

Series 1997-1 Owner Trust Calculations
Due Period	September 2001
Payment Date	Oct 15, 2001
Optimum Monthly Principal [a+b+c]
(a) Available Investor Principal Collections	5,672,555.00
(b) Series Participation Interest Charge Offs	0.00
(c) Lesser of Excess Interest and Carryover Charge offs	0.00
Accelerated Principal Payment	53,717.38
Series Participation Interest Monthly Interest	1,002,724.37
Allocation of Optimum Monthly Principal and Series Part. Interest Monthly Interest
Interest and Yield
Pay Class A-1 Interest Distribution- Sec. 3.05(a)(i)(a)	376,569.22
Pay Class A-2 Interest Distribution- Sec. 3.05(a)(i)(b)	74,953.65
Pay Class A-3 Interest Distribution- Sec. 3.05(a)(i)(c)	100,046.82
Pay Class B Interest Distribution- Sec. 3.05(a)(i)(d)	78,826.67
Pay Certificates the Certificate Yield- Sec. 3.05(a)(i)(e)	62,996.16
Principal up to Optimum Monthly Principal Balance
Pay Class A-1 to Targeted Principal Balance- Sec. 3.05(a)(ii)(a)	2,894,802.86
Pay Class A-2 to Targeted Principal Balance subject to Min Adj Bal- Sec. 3.05(a)(ii)(b)	567,255.50
Pay Class A-3 to Targeted Principal Balance subject to Min Adj Bal- Sec. 3.05(a)(ii)(c)	737,432.15
Pay Class B to Targeted Principal Balance subject to Min Adj Bal- Sec. 3.05(a)(ii)(d)	538,892.73
Pay Certificate Yield if not paid pursuant to Sec. 3.05 (a)(i)(e)	0.00
Principal up to Optimal Monthly Principal
Pay Certificate to Targeted Principal Balance subject to Min Adj Bal- Sec. 3.05(a)(iii)	397,078.84
Pay OC Remaining Optimal Monthly Prin Amt subject to OC Min Bal- Sec. 3.05(a)(iv)	537,092.92
Principal up to Accelerated Principal Payment Amout
Pay Class A-1 to Targeted Principal Balance subject to Min Adj Bal- Sec. 3.05(a)(v)(a)	0.00
Pay Class A-2 to Targeted Principal Balance subject to Min Adj Bal- Sec. 3.05(a)(v)(b)	0.00
Pay Class A-3 to Targeted Principal Balance subject to Min Adj Bal- Sec. 3.05(a)(v)(c)	0.00
Pay Class B to Targeted Principal Balance subject to Min Adj Bal- Sec. 3.05(a)(v)(d)	0.00
Pay Class A-1 to zero- Sec. 3.05(a)(v)(e)	53,717.38
Pay Class A-2 to zero- Sec. 3.05(a)(v)(f)	0.00
Pay Class A-3 to zero- Sec. 3.05(a)(v)(g)	0.00
Pay Class B to zero- Sec. 3.05(a)(v)(h)	0.00
Principal up to Optimal Monthly Principal
Pay Class A-1 to zero- Sec. 3.05(a)(vi)(a)	0.00
Pay Class A-2 to zero- Sec. 3.05(a)(vi)(b)	0.00
Pay Class A-3 to zero- Sec. 3.05(a)(vi)(c)	0.00
Pay Class B to zero- Sec. 3.05(a)(vi)(d)	0.00
Pay Certificates up to Certificate Minimum Balance or zero- Sec. 3.05(a)(vi)(e)	0.00
Pay HCLC Optimum Monthly Principal provided OC >0- Sec. 3.05(a)(vi)(f)	0.00
Remaining Amounts to Holder of Designated Certificate - Sec. 3.05(a)(vii)	255,614.47
Allocations of Distributions to Overcollateralization Amount
Available Distributions
Pay OC Remaining Optimal Monthly Prin Amt subject to OC Min Bal- Sec. 3.05(a)(iv)	537,092.92
Pay HCLC Optimum Monthly Principal provided OC >0- Sec. 3.05(a)(vi)	0.00
To Designated Certificate Holder up to total Accelerated Principal Payments	53,717.38
To Designated Certificate Holder up to Holdback Amount	483,375.54
To HCLC any remaining amounts	0.00
Principal paid to the Designated Certificate	3,970.79

EX-99

Household Consumer Loan Trust, 1997-1
Series 1997-1 Owner Trust Calculations
Due Period Ending	Sep 30, 2001
Payment Date	Oct 15, 2001
Calculation of Interest Expense
Index (LIBOR)	3.487500%
Accrual end date, accrual beginning date and days in Interest Period	Oct 15, 2001	Sep 17, 2001	28
	Class A-1	Class A-2	Class A-3	Class B	Certificates	Overcoll Amount
Beginning Unpaid Principal Balance	134,023,647	25,784,341	33,519,643	24,495,124	18,049,039	21,971,616
Previously unpaid interest/yield	0.00	0.00	0.00	0.00	0.00
Spread to index	0.125%	0.250%	0.350%	0.650%	1.000%
Rate (capped at 12.5%, 14%, 14%, 14%, 15%)	3.612500%	3.737500%	3.837500%	4.137500%	4.487500%
Interest/Yield Payable on the Principal Balance	376,569	74,954	100,047	78,827	62,996
Interest on previously unpaid interest/yield	0	0	0	0	0
Interest/Yield Due	376,569	74,954	100,047	78,827	62,996
Interest/Yield Paid	376,569	74,954	100,047	78,827	62,996
Summary
Beginning Security Balance	134,023,647	25,784,341	33,519,643	24,495,124	18,049,039	21,971,616
Beginning Adjusted Balance	134,023,647	25,784,341	33,519,643	24,495,124	18,049,039
Principal Paid	2,948,520	567,256	737,432	538,893	397,079	537,093
Ending Security Balance	131,075,127	25,217,085	32,782,211	23,956,231	17,651,960	21,488,240
Ending Adjusted Balance	131,075,127	25,217,085	32,782,211	23,956,231	17,651,960
Ending Certificate Balance as % Participation Interest Invested Amount					0
Targeted Balance	131,128,844	25,217,085	32,782,211	23,956,231	17,651,960
Minimum Adjusted Balance		16,000,000	20,800,000	15,200,000	11,200,000	13,600,000
Certificate Minimum Balance					2,547,178
Ending OC Amount as Holdback Amount						13,178,608
Ending OC Amount as Accelerated Prin Pmts						8,309,632
Beginning Net Charge offs	0.00	0.00	0.00	0.00	0.00	0.00
Reversals	0.00	0.00	0.00	0.00	0.00	0.00
Charge offs	0.00	0.00	0.00	0.00	0.00	0.00
Ending Net Charge Offs	0.00	0.00	0.00	0.00	0.00	0.00
Interest/Yield Paid per $1000	$0.5161311	$1.5615344	$1.6033144	$1.7286550	$1.8748857
Principal Paid per $1000	$4.0412832	$11.8178229	$11.8178229	$11.8178230	$11.8178226