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:              January 14, 2003
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)
Delaware     (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
- Page 1 -
Item 7.     FINANCIAL STATEMENTS AND EXHIBITS
(c)   Exhibits
99	Statement to Series 1997-1 Participants with respect to the distribution on January 14, 2003 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 January 15, 2003 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 January 15, 2003 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/ P. D. Schwartz                         Patrick D. Schwartz      Authorized Representative
Dated: January 31, 2003
- Page 2 -
EXHIBIT INDEX
Exhibit Number	Exhibit
99	Statement to Series 1997-1 Participants with respect to the distribution on January 14, 2003 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 January 15, 2003 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 January 15, 2003 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.
- Page 3 -

EX-99

Household Consumer Loan Trust, 1997-1
Series 1997-1 Owner Trust Calculations
Due Period Ending	Dec 31, 2002
Payment Date	Jan 15, 2003
Calculation of Interest Expense
Index (LIBOR)	1.420000%
Accrual end date, accrual beginning date and days in Interest Period	Jan 15, 2003	Dec 16, 2002	30
	Class A-1	Class A-2	Class A-3	Class B	Certificates	Overcoll Amount
Beginning Unpaid Principal Balance	76,167,723	16,000,000	20,800,000	15,200,000	11,200,000	13,633,671
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%)	1.545000%	1.670000%	1.770000%	2.070000%	2.420000%
Interest/Yield Payable on the Principal Balance	98,066	22,267	30,680	26,220	22,587
Interest on previously unpaid interest/yield	0	0	0	0	0
Interest/Yield Due	98,066	22,267	30,680	26,220	22,587
Interest/Yield Paid	98,066	22,267	30,680	26,220	22,587
Summary
Beginning Security Balance	76,167,723	16,000,000	20,800,000	15,200,000	11,200,000	13,633,671
Beginning Adjusted Balance	76,167,723	16,000,000	20,800,000	15,200,000	11,200,000
Principal Paid	9,417,766	0	0	0	0	33,671
Ending Security Balance	66,749,958	16,000,000	20,800,000	15,200,000	11,200,000	13,631,875
Ending Adjusted Balance	66,749,958	16,000,000	20,800,000	15,200,000	11,200,000
Ending Certificate Balance as % Participation Interest Invested Amount					0
Targeted Balance	74,662,553	14,358,183	17,023,822	9,864,096	4,714,824
Minimum Adjusted Balance		16,000,000	20,800,000	15,200,000	11,200,000	13,600,000
Certificate Minimum Balance					1,450,320
Ending OC Amount as Holdback Amount						5,322,244
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	$0.1344106	$0.4638890	$0.4916667	$0.5750000	$0.6722223
Principal Paid per $1000	$12.9081217	$0.0000000	$0.0000000	$0.0000000	$0.0000000

EX-99

Series 1997-1 Owner Trust Calculations
Due Period	December 2002
Payment Date	Jan 15, 2003
Optimum Monthly Principal [a+b+c]
(a) Available Investor Principal Collections	9,419,561.51
(b) Series Participation Interest Charge Offs	0.00
(c) Lesser of Excess Interest and Carryover Charge offs	0.00
Accelerated Principal Payment	31,875.29
Series Participation Interest Monthly Interest	374,003.41
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)	98,065.94
Pay Class A-2 Interest Distribution- Sec. 3.05(a)(i)(b)	22,266.67
Pay Class A-3 Interest Distribution- Sec. 3.05(a)(i)(c)	30,680.00
Pay Class B Interest Distribution- Sec. 3.05(a)(i)(d)	26,220.00
Pay Certificates the Certificate Yield- Sec. 3.05(a)(i)(e)	22,586.67
Principal up to Optimum Monthly Principal Balance
Pay Class A-1 to Targeted Principal Balance- Sec. 3.05(a)(ii)(a)	1,505,170.18
Pay Class A-2 to Targeted Principal Balance subject to Min Adj Bal- Sec. 3.05(a)(ii)(b)	0.00
Pay Class A-3 to Targeted Principal Balance subject to Min Adj Bal- Sec. 3.05(a)(ii)(c)	0.00
Pay Class B to Targeted Principal Balance subject to Min Adj Bal- Sec. 3.05(a)(ii)(d)	0.00
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)	0.00
Pay OC Remaining Optimal Monthly Prin Amt subject to OC Min Bal- Sec. 3.05(a)(iv)	33,671.19
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)	31,875.29
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)	7,880,720.14
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)	142,308.84
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)	33,671.19
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	31,875.29
To Designated Certificate Holder up to Holdback Amount	1,795.90
To HCLC any remaining amounts	0.00
Principal paid to the Designated Certificate	0.00

EX-99

Household Consumer Loan Trust, Series 1997-1 Deposit Trust Calculations
Previous Due Period Ending	Nov 30, 2002
Current Due Period Ending	Dec 31, 2002
Prior Distribution Date	Dec 13, 2002
Distribution Date	Jan 14, 2003
Beginning Trust Principal Receivables	3,553,108,664.45
Average Principal Receivables	3,552,892,212.72
FC&A Collections (Includes Recoveries)	64,062,329.20
Principal Collections	128,249,696.25
Additional Balances	49,276,620.04
Net Principal Collections	78,973,076.21
Defaulted Amount	25,354,650.40
Miscellaneous Payments	0.00
Principal Recoveries	2,770,984.00
Beginning Participation Invested Amount	153,001,394.55
Beginning Participation Unpaid Principal Balance	153,001,394.55
Ending Participation Invested Amount	143,581,833.04
Ending Participation Unpaid Principal Balance	143,581,833.04
Accelerated Amortization Date	Feb 28, 2002
Is it the Accelerated Amortization Period? 0=No	1
OC Balance as % of Beginning Participation Invested Amount (3 month average)	8.651%
Is it Early Amortization? (No, if 3 month OC Average >or=4.25%)	0
Investor Finance Charges and Administrative Collections
Numerator for Floating Allocation	153,001,394.55
Numerator for Fixed Allocation	230,701,441.85
Denominator - Max(Sum of Numerators, Principal Receivables)	3,552,892,212.72
Applicable Allocation Percentage	4.3064%
Investor FC&A Collections	2,758,773.73
Series Participation Interest Default Amount
Numerator for Floating Allocation	153,001,394.55
Denominator - Max(Sum of Numerators, Principal Receivables)	3,552,892,212.72
Floating Allocation Percentage	4.3064%
Series Participation Interest Default Amount	1,091,870.13
Principal Allocation Components
Numerator for Floating Allocation	153,001,394.55
Numerator for Fixed Allocation	230,701,441.85
Denominator - Max(Sum of Numerators, Principal Receivables)	3,552,892,212.72
Series Participation Interest Monthly Interest
(a) Series Participation Interest Pass Through Rate, [Max(b,c)]	2.7500%
(b) Prime Rate minus 1.50%	2.7500%
(c) Rate Sufficient to Cover Interest, Yield and Accelerated Principal Pmt Amount	1.7036%
(d) Series Participation Interest Unpaid Principal Balance	153,001,394.55
(e) Actual days in the Interest Period	32
Series Participation Monthly Interest, [a*d*e]	374,003.41
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]	9,419,561.51
(a) Investor Principal Collections, [Max(b,h) or e]	8,327,691.38
(b) prior to Accelerated Amort. Date or not Early Amort. Period, [c*d]	3,400,888.65
(c) Floating Allocation Percentage	4.3064%
(d) Net Principal Collections	78,973,076.21
(e) after Accelerated Amort Date or Early Amort Period, [f*g]	8,327,691.38
(f) Fixed Allocation Percentage	6.4933%
(g) Collections of Principal	128,249,696.25
(h) Minimum Principal Amount, [Min(i,l)]	2,274,160.55
(i) Floating Allocation Percentage of Principal Collections	5,522,932.08
(j) 2.2% of the Series Participation Interest Invested Amount	3,366,030.68
(k) Series Participation Interest Net Default Payment Amount	1,091,870.13
(l) the excess of (j) over (k)	2,274,160.55
(m) Series Participation Interest Net Default Payment Amount	1,091,870.13
(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)]	2,758,773.73
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)]	374,003.41
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)]	1,091,870.13
Reimbursed Series Participation Interest Charge-Offs [Sec. 4.11(a)(iv)]	0.00
Servicing Fee Paid [Sec. 4.11(a)(v)]	255,002.32
Excess [Sec. 4.11(a)(vi)]	1,037,897.87
Series Participation Investor Charge Off [Sec. 4.12(a)]	0.00
Seller's Interest	1,454,451,544.21