-----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, EmobUMdPFbJgm0nyXho1UTQAHbmw0Y6zz2eiJN7kb8TpnJmmi8vhN+r/6DrQlvZ2 Q5UpUbPQJJsXN4be8oCklQ== 0001066477-00-000015.txt : 20000508 0001066477-00-000015.hdr.sgml : 20000508 ACCESSION NUMBER: 0001066477-00-000015 CONFORMED SUBMISSION TYPE: 10-K/A PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20000505 FILED AS OF DATE: 20000505 FILER: COMPANY DATA: COMPANY CONFORMED NAME: HOUSEHOLD AUTOMOBILE REVOLVING TRUST I CENTRAL INDEX KEY: 0001066477 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: 333-59837 FILM NUMBER: 620129 BUSINESS ADDRESS: STREET 1: 2700 SANDERS ROAD CITY: PROSPECT HEIGHTS STATE: IL ZIP: 60070 BUSINESS PHONE: 8475645000 MAIL ADDRESS: STREET 1: 2700 SANDERS ROAD CITY: PROSPECT HEIGHTS STATE: IL ZIP: 60070 10-K/A 1 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, 1999 Commission File No. 333-59837 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. HOUSEHOLD AUTOMOBILE REVOLVING TRUST I, SERIES 1998-1 (Exact name of Registrant as specified in Department of the Treasury, Internal Revenue Service Form SS-4) HOUSEHOLD FINANCE CORPORATION (Master Servicer of the Trust) (Exact name as specified in Master Servicer's charter) DELAWARE Not Applicable. (State or other jurisdiction of (I.R.S. Employer incorporation of Master Identification Number of Servicer) Registrant) 2700 SANDERS ROAD, PROSPECT HEIGHTS, ILLINOIS 60070 (Address of principal executive offices of (Zip Code) Master Servicer) Master Servicer's telephone number, including area code: (847)564-5000 2 SIGNATURES Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, the Master Servicer has duly caused this report to be signed on behalf of the Household Automobile Revolving Trust I, Series 1998-1 by the undersigned, thereunto duly authorized. HOUSEHOLD FINANCE CORPORATION, as Master Servicer of and on behalf of the HOUSEHOLD AUTOMOBILE REVOLVING TRUST I, SERIES 1998-1 (Registrant) Date: May 5, 2000 By: /s/ J. W. Blenke J. W. Blenke Assistant Secretary 3 Exhibit Index Exhibit No. Exhibit 99 Copy of Independent Public Accountants Annual Servicing Report dated April 26, 2000. EX-99 2 1 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 4.11 of the Master Sale and Servicing Agreement, dated November 1, 1998 (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. As part of our audit, we reviewed documents and records relating to the servicing of consumer automobile finance receivables under the Agreement. In connection with our audit, we noted no exceptions or errors in the records relating to the servicing of consumer automobile finance loans that, in our opinion, generally accepted auditing standards 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, with respect to Section 4.11 of the Agreement, in conjunction with the servicing of consumer automobile finance receivables owned by Household Automobile Revolving 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 Servicer. 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, 1999 and December, 1999, 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 accounting records for the month of March, 1999, June, 1999, and August, 1999, for Series 1998-1 and found it to be in the 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. Chicago, Illinois April 26, 2000 -----END PRIVACY-ENHANCED MESSAGE-----