EX-99 2 y58202exv99.htm EX-99: MONTHLY SERVICER'S CERTIFICATE EX-99
MONTHLY SERVICER’S CERTIFICATE
AMERICAN EXPRESS TRAVEL RELATED SERVICES COMPANY, INC.
 
AMERICAN EXPRESS CREDIT ACCOUNT MASTER TRUST
 
The undersigned, a duly authorized representative of American Express Travel Related Services Company, Inc., as Servicer (“TRS”), pursuant to the Pooling and Servicing Agreement, dated as of May 16, 1996, as amended and restated as of January 1, 2006 (as amended and restated and as otherwise amended and supplemented, the “Agreement”), as supplemented by the Series Supplements (as amended and supplemented, the “Series Supplements”), among TRS, as Servicer, American Express Receivables Financing Corporation II, American Express Receivables Financing Corporation III LLC and American Express Receivables Financing Corporation IV LLC, as Transferors, and The Bank of New York, as Trustee, does hereby certify as follows:
1.   Capitalized terms used in this Certificate have their respective meanings as set forth in the Agreement or the Series Supplements, as applicable.
 
2.   TRS is, as of the date hereof, the Servicer under the Agreement.
 
3.   The undersigned is a Servicing Officer.
 
4.   This Certificate relates to the Distribution Date occurring on May 15, 2008 and covers activity from March 26, 2008 through April 24, 2008.
 
5.   As of the date hereof, to the best knowledge of the undersigned, the Servicer has performed in all material respects all its obligations under the Agreement through the Monthly Period preceding such Distribution Date.
 
6.   As of the date hereof, to the best knowledge of the undersigned, no Pay Out Event occurred on or prior to such Distribution Date.
 
    IN WITNESS WHEREOF, the undersigned has duly executed and delivered this Certificate this 12th day of May.
         
  AMERICAN EXPRESS TRAVEL RELATED
SERVICES COMPANY, INC., as Servicer
 
 
  By:   /s/ Stephen J. Bakonyi    
    Name:   Stephen J. Bakonyi   
    Title:   Vice President ABS Operations   
 

 


 

A. Trust Activity
         
    Trust Totals  
Record Date
  April 30, 2008  
Number of days in Monthly Period
    30  
Beginning Number of Accounts
    21,182,271  
Beginning Principal Receivable Balance, including any Addition, Removal or Adjustments of Principal Receivables during the Monthly Period
    33,188,858,980.35  
a. Addition of Principal Receivables
    0.00  
b. Removal of Principal Receivables
    0.00  
c. Adjustments to Principal Balance
    0.00  
Special Funding Account Balance
    0.00  
Beginning Total Principal Balance
    33,188,858,980.35  
Finance Charge Collections (excluding Recoveries)
    536,087,654.46  
Recoveries
    19,836,242.58  
Total Collections of Finance Charge Receivables
    555,923,897.04  
Total Collections of Principal Receivables
    7,895,107,230.08  
Monthly Payment Rate
    23.7884 %
Defaulted Amount
    144,655,075.19  
Annualized Default Rate
    5.3154 %
Trust Portfolio Yield
    15.0767 %
New Principal Receivables
    7,961,800,530.84  
Ending Number of Accounts
    21,111,664  
Ending Principal Receivables Balance
    33,110,897,205.92  
Ending Required Minimum Principal Balance
    27,767,720,870.00  
Ending Transferor Amount
    7,159,756,205.92  
Ending Special Funding Account Balance
    0.00  
Ending Total Principal Balance
    33,110,897,205.92  

- 2 -


 

B. Series Allocations
                                                                         
                    Principal   Series           Series           Series   Series
            Adjusted   Funding   Required   Series   Allocable   Series   Allocable   Allocable
            Invested   Account   Transferor   Allocation   Finance Charge   Allocable   Principal   Defaulted
    Invested Amount   Amount   Balance   Amount   Percentage   Collections   Recoveries   Collections   Amount
Group 1
                                                                       
2004-3
    600,000,000.00       600,000,000.00       0.00       42,000,000.00       2.31 %     12,853,166.58       458,621.28       182,537,805.87       3,344,478.96  
2006-2
    500,000,000.00       500,000,000.00       0.00       35,000,000.00       1.93 %     10,710,972.15       382,184.40       152,114,838.23       2,787,065.80  
 
                                                                       
Group 1 Total     1,100,000,000.00       0.00       77,000,000.00       4.24 %     23,564,138.73       840,805.68       334,652,644.10       6,131,544.76  
Group 2
                                                                       
2002-5
    600,000,000.00       600,000,000.00       0.00       42,000,000.00       2.31 %     12,853,166.58       458,621.28       182,537,805.87       3,344,478.96  
2004-1
    800,000,000.00       800,000,000.00       0.00       56,000,000.00       3.08 %     17,137,555.44       611,495.04       243,383,741.16       4,459,305.28  
2004-2
    400,000,000.00       400,000,000.00       0.00       28,000,000.00       1.54 %     8,568,777.72       305,747.52       121,691,870.58       2,229,652.64  
2004-4
    1,100,000,000.00       1,100,000,000.00       0.00       77,000,000.00       4.24 %     23,564,138.73       840,805.68       334,652,644.10       6,131,544.76  
2004-5
    1,000,000,000.00       1,000,000,000.00       0.00       70,000,000.00       3.85 %     21,421,944.30       764,368.80       304,229,676.46       5,574,131.60  
2005-1
    600,000,000.00       600,000,000.00       0.00       42,000,000.00       2.31 %     12,853,166.58       458,621.28       182,537,805.87       3,344,478.96  
2005-2
    600,000,000.00       600,000,000.00       0.00       42,000,000.00       2.31 %     12,853,166.58       458,621.28       182,537,805.87       3,344,478.96  
2005-3
    700,000,000.00       700,000,000.00       0.00       49,000,000.00       2.70 %     14,995,361.01       535,058.16       212,960,773.52       3,901,892.12  
2005-4
    500,000,000.00       500,000,000.00       0.00       35,000,000.00       1.93 %     10,710,972.15       382,184.40       152,114,838.23       2,787,065.80  
2005-5
    1,100,000,000.00       1,100,000,000.00       0.00       77,000,000.00       4.24 %     23,564,138.73       840,805.68       334,652,644.10       6,131,544.76  
2005-6
    700,000,000.00       700,000,000.00       0.00       49,000,000.00       2.70 %     14,995,361.01       535,058.16       212,960,773.52       3,901,892.12  
2005-7
    700,000,000.00       700,000,000.00       0.00       49,000,000.00       2.70 %     14,995,361.01       535,058.16       212,960,773.52       3,901,892.12  
2005-8
    500,000,000.00       500,000,000.00       0.00       35,000,000.00       1.93 %     10,710,972.15       382,184.40       152,114,838.23       2,787,065.80  
2006-1
    1,000,000,000.00       1,000,000,000.00       0.00       70,000,000.00       3.85 %     21,421,944.30       764,368.80       304,229,676.46       5,574,131.60  
2006-3
    600,000,000.00       600,000,000.00       0.00       42,000,000.00       2.31 %     12,853,166.58       458,621.28       182,537,805.87       3,344,478.96  
2006-A
    700,000,000.00       700,000,000.00       0.00       49,000,000.00       2.70 %     14,995,361.01       535,058.16       212,960,773.52       3,901,892.12  
2006-B
    700,000,000.00       700,000,000.00       0.00       49,000,000.00       2.70 %     14,995,361.01       535,058.16       212,960,773.52       3,901,892.12  
2007-1
    500,000,000.00       500,000,000.00       0.00       35,000,000.00       1.93 %     10,710,972.15       382,184.40       152,114,838.23       2,787,065.80  
2007-2
    500,000,000.00       500,000,000.00       0.00       35,000,000.00       1.93 %     10,710,972.15       382,184.40       152,114,838.23       2,787,065.80  
2007-3
    600,000,000.00       600,000,000.00       0.00       42,000,000.00       2.31 %     12,853,166.58       458,621.28       182,537,805.87       3,344,478.96  
2007-4
    800,000,000.00       800,000,000.00       0.00       56,000,000.00       3.08 %     17,137,555.44       611,495.04       243,383,741.16       4,459,305.28  
2007-5
    500,000,000.00       500,000,000.00       0.00       35,000,000.00       1.93 %     10,710,972.15       382,184.40       152,114,838.23       2,787,065.80  
2007-6
    1,000,000,000.00       1,000,000,000.00       0.00       70,000,000.00       3.85 %     21,421,944.30       764,368.80       304,229,676.46       5,574,131.60  
2007-7
    900,000,000.00       900,000,000.00       0.00       63,000,000.00       3.47 %     19,279,749.87       687,931.92       273,806,708.81       5,016,718.44  
2007-8
    1,200,000,000.00       1,200,000,000.00       0.00       84,000,000.00       4.62 %     25,706,333.16       917,242.56       365,075,611.75       6,688,957.92  
2008-1
    2,875,000,000.00       2,875,000,000.00       0.00       201,250,000.00       11.08 %     61,588,089.86       2,197,560.31       874,660,319.81       16,025,628.36  
2008-2
    1,363,638,000.00       1,363,638,000.00       0.00       95,454,660.00       5.25 %     29,211,777.28       1,042,322.35       414,859,147.54       7,601,097.67  
2008-3
    1,704,547,000.00       1,704,547,000.00       0.00       119,318,290.00       6.57 %     36,514,710.89       1,302,902.55       518,573,782.31       9,501,369.30  
2008-4
    607,956,000.00       607,956,000.00       0.00       42,556,920.00       2.34 %     13,023,599.57       464,702.60       184,958,257.18       3,388,826.75  
 
                                                                       
Group 2 Total     24,851,141,000.00       0.00       1,739,579,870.00       95.76 %     532,359,758.29       18,995,436.85       7,560,454,585.98       138,523,530.36  
 
                                                                       
Trust Total     25,951,141,000.00       0.00       1,816,579,870.00       100.00 %     555,923,897.02       19,836,242.53       7,895,107,230.08       144,655,075.12  

- 3 -


 

C. Group Allocations
                                                                                 
                                                            Reallocated        
            Investor                                   Investor   Investment    
            Finance   Investor   Investor   Investor   Investor       Finance   Funding
            Charge   Monthly   Default   Monthly   Additional           Charge   Account    
    Invested Amount   Collections   Interest   Amount   Fees   Amounts   Total   Collections   Proceeds   Available Excess
Group 1
                                                                               
2004-3
    600,000,000.00       10,050,189.99       2,133,437.60       2,615,125.91       1,000,000.00       0.00       5,748,563.51       9,796,752.54       0.00       4,048,189.03  
2006-2
    500,000,000.00       8,375,158.32       2,242,500.00       2,179,271.59       833,333.33       0.00       5,255,104.92       8,628,595.77       0.00       3,373,490.85  
 
                                                                               
Group 1 Total
    1,100,000,000.00       18,425,348.31       4,375,937.60       4,794,397.50       1,833,333.33       0.00       11,003,668.43       18,425,348.31       0.00       7,421,679.88  
 
                                                                               
Group 2
                                                                               
2002-5
    600,000,000.00       10,050,189.99       1,469,845.00       2,615,125.91       1,000,000.00       0.00       5,084,970.91       9,985,373.42       0.00       4,900,402.51  
2004-1
    800,000,000.00       13,400,253.32       1,900,660.00       3,486,834.55       1,333,333.33       0.00       6,720,827.88       13,254,697.90       0.00       6,533,870.02  
2004-2
    400,000,000.00       6,700,126.66       981,980.00       1,743,417.27       666,666.67       0.00       3,392,063.94       6,658,998.95       0.00       3,266,935.01  
2004-4
    1,100,000,000.00       18,425,348.31       2,616,524.17       4,794,397.50       1,833,333.33       0.00       9,244,255.00       18,228,326.28       0.00       8,984,071.28  
2004-5
    1,000,000,000.00       16,750,316.65       2,376,033.33       4,358,543.18       1,666,666.67       0.00       8,401,243.18       16,568,580.70       0.00       8,167,337.52  
2005-1
    600,000,000.00       10,050,189.99       1,389,845.00       2,615,125.91       1,000,000.00       0.00       5,004,970.91       9,905,373.42       0.00       4,900,402.51  
2005-2
    600,000,000.00       10,050,189.99       1,432,270.00       2,615,125.91       1,000,000.00       0.00       5,047,395.91       9,947,798.42       0.00       4,900,402.51  
2005-3
    700,000,000.00       11,730,687.00       1,603,548.34       3,050,980.23       1,166,666.67       0.00       5,821,195.24       11,538,331.51       0.00       5,722,601.62  
2005-4
    500,000,000.00       8,375,158.32       1,179,558.34       2,179,271.59       833,333.33       0.00       4,192,163.26       8,275,832.02       0.00       4,083,668.76  
2005-5
    1,100,000,000.00       18,425,348.31       2,559,003.34       4,794,397.50       1,833,333.33       0.00       9,186,734.17       18,170,805.45       0.00       8,984,071.28  
2005-6
    700,000,000.00       11,725,221.65       1,603,548.34       3,050,980.23       1,166,666.67       0.00       5,821,195.24       11,538,331.51       0.00       5,717,136.27  
2005-7
    700,000,000.00       11,725,221.65       1,651,731.67       3,050,980.23       1,166,666.67       0.00       5,869,378.57       11,586,514.84       0.00       5,717,136.27  
2005-8
    500,000,000.00       8,375,158.32       1,159,766.67       2,179,271.59       833,333.33       0.00       4,172,371.59       8,256,040.35       0.00       4,083,668.76  
2006-1
    1,000,000,000.00       16,750,316.65       2,313,908.33       4,358,543.18       1,666,666.67       0.00       8,339,118.18       16,506,455.70       0.00       8,167,337.52  
2006-3
    600,000,000.00       10,050,189.99       1,383,420.00       2,615,125.91       1,000,000.00       0.00       4,998,545.91       9,898,948.42       0.00       4,900,402.51  
2006-A
    700,000,000.00       11,725,221.65       1,596,315.01       3,050,980.23       1,166,666.67       0.00       5,813,961.91       11,531,098.18       0.00       5,717,136.27  
2006-B
    700,000,000.00       11,725,221.65       1,625,569.17       3,050,980.23       1,166,666.67       0.00       5,843,216.07       11,560,352.34       0.00       5,717,136.27  
2007-1
    500,000,000.00       8,375,158.32       1,148,808.34       2,179,271.59       833,333.33       0.00       4,161,413.26       8,245,082.02       0.00       4,083,668.76  
2007-2
    500,000,000.00       8,375,158.32       1,163,579.17       2,179,271.59       833,333.33       0.00       4,176,184.09       8,259,852.85       0.00       4,083,668.76  
2007-3
    600,000,000.00       10,050,189.99       1,368,570.00       2,615,125.91       1,000,000.00       0.00       4,983,695.91       9,884,098.42       0.00       4,900,402.51  
2007-4
    800,000,000.00       13,400,253.32       1,819,326.67       3,486,834.55       1,333,333.33       0.00       6,639,494.55       13,173,364.57       0.00       6,533,870.02  
2007-5
    500,000,000.00       8,375,158.32       1,155,558.34       2,179,271.59       833,333.33       0.00       4,168,163.26       8,251,832.02       0.00       4,083,668.76  
2007-6
    1,000,000,000.00       16,750,316.65       2,283,033.33       4,358,543.18       1,666,666.67       0.00       8,308,243.18       16,475,580.70       0.00       8,167,337.52  
2007-7
    900,000,000.00       15,075,284.98       2,089,380.01       3,922,688.87       1,500,000.00       0.00       7,512,068.88       14,862,672.65       0.00       7,350,603.77  
2007-8
    1,200,000,000.00       20,100,379.97       3,102,940.00       5,230,251.82       2,000,000.00       0.00       10,333,191.82       20,133,996.85       0.00       9,800,805.03  
2008-1
    2,875,000,000.00       48,157,160.35       8,022,903.12       12,530,811.66       4,791,666.67       0.00       25,345,381.45       48,826,476.83       0.00       23,481,095.38  
2008-2
    1,363,638,000.00       22,841,368.29       4,949,998.12       5,943,475.11       2,272,730.00       0.00       13,166,203.23       24,303,495.04       0.00       11,137,291.81  
2008-3
    1,704,547,000.00       28,551,701.99       5,438,597.34       7,429,341.71       2,840,911.67       0.00       15,708,850.72       29,630,461.39       0.00       13,921,610.67  
2008-4
    607,956,000.00       10,183,455.51       2,177,263.66       2,649,802.48       1,013,260.00       0.00       5,840,326.14       10,805,707.99       0.00       4,965,381.85  
 
                                                                               
Group 2 Total
    24,851,141,000.00       416,269,946.11       63,563,484.81       108,314,771.21       41,418,568.34       0.00       213,296,824.36       416,264,480.74       0.00       202,973,121.73  

- 4 -


 

                         
    Group Investor Finance           Group Reallocable Investor
    Charge Collections   Group Expenses   Finance Charge Collections
Group 1
    18,425,348.31       11,003,668.43       7,421,679.88  
Group 2
    416,264,480.76       213,296,824.36       202,967,656.40  
D. Trust Performance
Delinquencies:
         
31-60 Days Delinquent:
    314,875,730  
61-90 Days Delinquent:
    227,781,718  
90+ Days Delinquent:
    497,154,774  
Total 30+ Days Delinquent:
    1,039,812,221  

- 5 -


 

Series 2002-5 Certificates
                         
            Total Investor        
A. Investor/Transferor Allocations   Series Allocations     Interest     Transferors’ Interest  
Beginning Invested Amount/Transferor Amount
    767,338,722.73       600,000,000.00       167,338,722.73  
Beginning Adjusted Invested Amount
    N/A       600,000,000.00       N/A  
Floating Allocation Percentage
    N/A       78.1923 %     21.8077 %
Principal Allocation Percentage
    N/A       78.1923 %     21.8077 %
Collections of Finance Charge Receivables
    12,853,166.58       10,050,189.99       2,802,976.59  
Collections of Principal Receivables
    182,537,805.87       142,730,557.29       39,807,248.58  
Defaulted Amount
    3,344,478.96       2,615,125.91       729,353.05  
 
                       
Ending Invested Amount / Transferor Amount
    765,536,217.60       600,000,000.00       165,536,217.60  
                                 
B. Monthly Period Funding Requirements   Class A     Class B     Collateral Interest     Total  
Principal Funding Account Balance
    0.00       0.00       0.00       0.00  
Investment Proceeds for Monthly Period
    0.00       0.00       0.00       0.00  
Reserve Account Opening Balance
    0.00       0.00       0.00       0.00  
Reserve Account Deposit
    0.00       0.00       0.00       0.00  
Reserve Draw Amount
    0.00       0.00       0.00       0.00  
Reserve Account Surplus
    0.00       0.00       0.00       0.00  
Reserve Account Closing Balance
    0.00       0.00       0.00       0.00  
 
                               
LIBOR Determination Date
  April 11, 2008     April 11, 2008     April 11, 2008        
Coupon April 15, 2008 - May 14, 2008
    2.8859 %     3.1659 %     3.2159 %        
Monthly Interest Due
    1,190,450.25       126,637.60       152,757.15       1,469,845.00  
Outstanding Monthly Interest Due
    0.00       0.00       0.00       0.00  
Additional Interest Due
    0.00       0.00       0.00       0.00  
Total Interest Due
    1,190,450.25       126,637.60       152,757.15       1,469,845.00  
Investor Default Amount
    2,157,478.88       209,210.07       248,436.96       2,615,125.91  
Investor Monthly Fees Due
    825,000.00       80,000.00       95,000.00       1,000,000.00  
Investor Additional Amounts Due
    0.00       0.00       0.00       0.00  
Total Due
    4,172,929.13       415,847.67       496,194.11       5,084,970.91  
 
                               
Reallocated Investor Finance Charge Collections
                            9,985,373.42  
Interest and Principal Funding Investment Proceeds
                            0.00  
Interest on Reserve Account
                            0.00  
Series Adjusted Portfolio Yield
                            14.9452 %
Base Rate
                            5.0083 %
Excess Spread Percentage
                            9.8008 %
                                 
C. Certificates - Balances and Distributions   Class A     Class B     Collateral Interest     Total  
Beginning Certificates Balance
    495,000,000.00       48,000,000.00       57,000,000.00       600,000,000.00  
Distributions of Interest
    1,190,450.25       126,637.60       152,757.15       1,469,845.00  
Deposits to the Principal Funding Account
    0.00       0.00       0.00       0.00  
Distributions of Principal
    0.00       0.00       0.00       0.00  
Total Distributions
    1,190,450.25       126,637.60       152,757.15       1,469,845.00  
Ending Certificates Balance
    495,000,000.00       48,000,000.00       57,000,000.00       600,000,000.00  

- 6 -


 

         
D. Information regarding distributions on the Distribution Date in respect of the Class A Certificates per $1,000 original certificate principal amount.
       
 
       
1. The total amount of the distribution:
  $ 2.40  
2. The amount of the distribution in respect of Class A Monthly Interest:
  $ 2.40  
3. The amount of the distribution in respect of Class A Outstanding Monthly Interest:
  $ 0.00  
4. The amount of the distribution in respect of Class A Additional Interest:
  $ 0.00  
5. The amount of the distribution in respect of principal of the Class A Certificates:
  $ 0.00  
 
       
E. Class A Investor Charge-Offs and Reimbursement of Class A Investor Charge-Offs.
       
 
       
1. The total amount of Class A Investor Charge-Offs:
  $ 0.00  
2. The amount of Class A Investor Charge- Offs per $1,000 original certificate principal amount:
  $ 0.00  
3. The total amount reimbursed in respect of Class A Investor Charge-Offs:
  $ 0.00  
4. The amount reimbursed in respect of Class A Investor Charge-Offs per $1,000 original certificate principal amount:
  $ 0.00  
5. The amount, if any, by which the outstanding principal balance of the Class A Certificates exceeds the Class A Invested Amount after giving effect to all transactions on such Distribution Date:
  $ 0.00  
 
       
F. Information regarding distributions in respect of the Class B Certificates, per $1,000 original certificate principal amount.
       
 
       
1. The total amount of the distribution in respect of Class B Certificates:
  $ 2.64  
2. The amount of the distribution in respect of Class B Monthly Interest:
  $ 2.64  
3. The amount of the distribution in respect of Class B Outstanding Monthly Interest:
  $ 0.00  
4. The amount of the distribution in respect of Class B Additional Interest:
  $ 0.00  
5. The amount of the distribution in respect of principal of the Class B Certificates:
  $ 0.00  

- 7 -


 

         
G. Amount of reductions in Class B Invested Amount pursuant to clauses (c), (d), and (e) of the definition of Class B Invested Amount on such Distribution Date.
       
 
       
1. The amount of reductions in Class B Invested Amount pursuant to clauses (c), (d), and (e) of the definition of Class B Invested Amount:
  $ 0.00  
2. The amount of reductions in the Class B Invested Amount, per $1,000 original certificate principal amount:
  $ 0.00  
3. The total amount reimbursed in respect of such reductions in the Class B Invested Amount:
  $ 0.00  
4. The amount reimbursed in respect of such reductions in the Class B Invested Amount, per $1,000 original certificate principal amount:
  $ 0.00  
5. The amount, if any, by which the outstanding principal balance of the Class B Certificates exceeds the Class B Invested Amount after giving effect to all transactions on such Distribution Date:
  $ 0.00  
 
       
H. Information regarding distributions on the Distribution Date to the Collateral Interest Holder.
       
 
       
1. The total amount distributed to the Collateral Interest Holder:
  $ 152,757.15  
2. The amount of the distribution in respect of Collateral Minimum Monthly Interest:
  $ 152,757.15  
3. The amount of the distribution in respect of Collateral Additional Interest:
  $ 0.00  
4. The amount distributed to the Collateral Interest Holder in respect of principal on the Collateral Invested Amount:
  $ 0.00  

- 8 -


 

         
I. Amount of reductions in Collateral Invested Amount pursuant to clauses (c), (d), and (e) of the definition of Collateral Invested Amount.
       
 
       
1. The amount of reductions in the Collateral Invested Amount pursuant to clauses (c), (d), and (e) of the definition of Collateral Invested Amount:
  $ 0.00  
2. The total amount reimbursed in respect of such reductions in the Collateral Invested Amount:
  $ 0.00  
 
       
J. Application of Reallocated Investor Finance Charge Collections.
       
 
       
1. Class A Available Funds:
  $ 8,237,933.07  
a. Class A Monthly Interest:
  $ 1,190,450.25  
b. Class A Outstanding Monthly Interest:
  $ 0.00  
c. Class A Additional Interest:
  $ 0.00  
d. Class A Investor Default Amount (treated as Available Principal Collections):
  $ 2,157,478.88  
e. Excess Spread:
  $ 4,890,003.94  
2. Class B Available Funds:
  $ 798,829.87  
a. Class B Monthly Interest:
  $ 126,637.60  
b. Class B Outstanding Monthly Interest:
  $ 0.00  
c. Class B Additional Interest:
  $ 0.00  
d. Excess Spread:
  $ 672,192.27  
3. Collateral Available Funds:
  $ 948,610.47  
a. Excess Spread:
  $ 948,610.47  
4. Total Excess Spread:
  $ 6,510,806.68  

- 9 -


 

         
K. Reallocated Principal Collections.
       
 
       
1. Principal Allocation Percentage:
    78.1923 %
2. Series 2002-5 Allocable Principal Collections:
  $ 182,537,805.87  
3. Principal Allocation Percentage of Series 2002-5 Allocable Principal Collections:
  $ 142,730,557.29  
4. Reallocated Principal Collections Required to fund the Required Amount:
  $ 0.00  
5. Item 3 minus item 4:
  $ 142,730,557.29  
6. Shared Principal Collections from other Series allocated to Series 2002-5:
  $ 0.00  
7. Other amounts treated as Available Principal Collections:
  $ 2,615,125.91  
8. Available Principal Collections (total of items 5., 6. & 7.):
  $ 145,345,683.20  
 
       
L. Application of Available Principal Collections during Revolving Period.
       
 
       
1. Collateral Invested Amount:
  $ 57,000,000.00  
2. Required Collateral Invested Amount:
  $ 57,000,000.00  
3. Excess of Collateral Invested Amount over Required Collateral Invested Amount:
  $ 0.00  
4. Treated as Shared Principal Collections:
  $ 145,345,683.20  
 
       
M. Application of Principal Collections During Accumulation or Amortization Period.
       
 
       
1. Principal Funding Account:
  $ 0.00  
2. Excess of Collateral Invested Amount over Required Collateral Invested Amount:
  $ 0.00  
3. Distribution of Principal:
  $ 0.00  
4. Treated as Shared Principal Collections:
  $ 0.00  

- 10 -


 

         
N. Application of Excess Spread and Excess Finance Charge Collections Allocated to Series 2002-5.
       
 
       
1. Excess Spread:
  $ 6,510,806.68  
2. Excess Finance Charge Collections:
  $ 0.00  
3. Applied to fund Class A Required Amount:
  $ 0.00  
4. Class A Investor Charge-Offs treated as Available Principal Collections:
  $ 0.00  
5. Applied to fund overdue Class B Interest:
  $ 0.00  
6. Applied to fund Class B Required Amount:
  $ 209,210.07  
7. Reduction of Class B Invested Amount treated as Available Principal Collections:
  $ 0.00  
8. Applied to Collateral Minimum Monthly Interest:
  $ 152,757.15  
9. Applied to unpaid Monthly Servicing Fee:
  $ 1,000,000.00  
10. Collateral Default Amount treated as Available Principal Collections:
  $ 248,436.96  
11. Reduction of Collateral Invested Amount treated as Available Principal Collections:
  $ 0.00  
12. Deposited to Reserve Account:
  $ 0.00  
13. Remaining Excess Spread distributed to Collateral Interest Holder(s):
  $ 4,900,402.50  
 
       
O. Yield and Base Rate.
       
 
       
1. Base Rate:
       
a. Current Monthly Period:
    5.0083 %
b. Prior Monthly Period:
    5.1812 %
c. Second Prior Monthly Period:
    5.3538 %
2. Three Month Average Base Rate:
    5.1811 %
3. Series Adjusted Portfolio Yield:
       
a. Current Monthly Period:
    14.9452 %
b. Prior Monthly Period:
    16.0873 %
c. Second Prior Monthly Period:
    16.1933 %
4. Three Month Average Series Adjusted Portfolio Yield:
    15.7419 %
5. Is the 3 month average Series Adjusted Portfolio Yield more than the 3 month average Base Rate?
  Yes  

- 11 -


 

Series 2004-1 Certificates
                         
            Total Investor        
A. Investor/Transferor Allocations   Series Allocations     Interest     Transferors’ Interest  
Beginning Invested Amount/Transferor Amount
    1,023,118,296.97       800,000,000.00       223,118,296.97  
Beginning Adjusted Invested Amount
    N/A       800,000,000.00       N/A  
Floating Allocation Percentage
    N/A       78.1923 %     21.8077 %
Principal Allocation Percentage
    N/A       78.1923 %     21.8077 %
Collections of Finance Charge Receivables
    17,137,555.44       13,400,253.32       3,737,302.12  
Collections of Principal Receivables
    243,383,741.16       190,307,409.71       53,076,331.45  
Defaulted Amount
    4,459,305.28       3,486,834.55       972,470.73  
 
Ending Invested Amount / Transferor Amount
    1,020,714,956.80       800,000,000.00       220,714,956.80  
                                 
B. Monthly Period Funding Requirements   Class A     Class B     Collateral Interest     Total  
Principal Funding Account Balance
    0.00       0.00       0.00       0.00  
Investment Proceeds for Monthly Period
    0.00       0.00       0.00       0.00  
Reserve Account Opening Balance
    0.00       0.00       0.00       0.00  
Reserve Account Deposit
    0.00       0.00       0.00       0.00  
Reserve Draw Amount
    0.00       0.00       0.00       0.00  
Reserve Account Surplus
    0.00       0.00       0.00       0.00  
Reserve Account Closing Balance
    0.00       0.00       0.00       0.00  
 
                               
LIBOR Determination Date
  April 11, 2008   April 11, 2008   April 11, 2008        
Coupon April 15, 2008 - May 14, 2008
    2.7959 %     2.9659 %     3.2659 %        
Monthly Interest Due
    1,556,406.60       148,297.00       195,956.40       1,900,660.00  
Outstanding Monthly Interest Due
    0.00       0.00       0.00       0.00  
Additional Interest Due
    0.00       0.00       0.00       0.00  
Total Interest Due
    1,556,406.60       148,297.00       195,956.40       1,900,660.00  
Investor Default Amount
    2,911,506.85       261,512.59       313,815.11       3,486,834.55  
Investor Monthly Fees Due
    1,113,333.33       100,000.00       120,000.00       1,333,333.33  
Investor Additional Amounts Due
    0.00       0.00       0.00       0.00  
Total Due
    5,581,246.78       509,809.59       629,771.51       6,720,827.88  
 
                               
Reallocated Investor Finance Charge Collections
                            13,254,697.90  
Interest and Principal Funding Investment Proceeds
                            0.00  
Interest on Reserve Account
                            0.00  
Series Adjusted Portfolio Yield
                            14.8553 %
Base Rate
                            4.9184 %
Excess Spread Percentage
                            9.8008 %
                                 
C. Certificates - Balances and Distributions   Class A     Class B     Collateral Interest     Total  
Beginning Certificates Balance
    668,000,000.00       60,000,000.00       72,000,000.00       800,000,000.00  
Distributions of Interest
    1,556,406.60       148,297.00       195,956.40       1,900,660.00  
Deposits to the Principal Funding Account
    0.00       0.00       0.00       0.00  
Distributions of Principal
    0.00       0.00       0.00       0.00  
Total Distributions
    1,556,406.60       148,297.00       195,956.40       1,900,660.00  
Ending Certificates Balance
    668,000,000.00       60,000,000.00       72,000,000.00       800,000,000.00  

- 12 -


 

         
D. Information regarding distributions on the Distribution Date in respect of the Class A Certificates per $1,000 original certificate principal amount.
       
 
       
1. The total amount of the distribution:
  $ 2.33  
2. The amount of the distribution in respect of Class A Monthly Interest:
  $ 2.33  
3. The amount of the distribution in respect of Class A Outstanding Monthly Interest:
  $ 0.00  
4. The amount of the distribution in respect of Class A Additional Interest:
  $ 0.00  
5. The amount of the distribution in respect of principal of the Class A Certificates:
  $ 0.00  
 
       
E. Class A Investor Charge-Offs and Reimbursement of Class A Investor Charge-Offs.
       
 
       
1. The total amount of Class A Investor Charge-Offs:
  $ 0.00  
2. The amount of Class A Investor Charge- Offs per $1,000 original certificate principal amount:
  $ 0.00  
3. The total amount reimbursed in respect of Class A Investor Charge-Offs:
  $ 0.00  
4. The amount reimbursed in respect of Class A Investor Charge-Offs per $1,000 original certificate principal amount:
  $ 0.00  
5. The amount, if any, by which the outstanding principal balance of the Class A Certificates exceeds the Class A Invested Amount after giving effect to all transactions on such Distribution Date:
  $ 0.00  
 
       
F. Information regarding distributions in respect of the Class B Certificates, per $1,000 original certificate principal amount.
       
 
       
1. The total amount of the distribution in respect of Class B Certificates:
  $ 2.47  
2. The amount of the distribution in respect of Class B Monthly Interest:
  $ 2.47  
3. The amount of the distribution in respect of Class B Outstanding Monthly Interest:
  $ 0.00  
4. The amount of the distribution in respect of Class B Additional Interest:
  $ 0.00  
5. The amount of the distribution in respect of principal of the Class B Certificates:
  $ 0.00  

- 13 -


 

         
G. Amount of reductions in Class B Invested Amount pursuant to clauses (c), (d), and (e) of the definition of Class B Invested Amount on such Distribution Date.
       
 
       
1. The amount of reductions in Class B Invested Amount pursuant to clauses (c), (d), and (e) of the definition of Class B Invested Amount:
  $ 0.00  
2. The amount of reductions in the Class B Invested Amount, per $1,000 original certificate principal amount:
  $ 0.00  
3. The total amount reimbursed in respect of such reductions in the Class B Invested Amount:
  $ 0.00  
4. The amount reimbursed in respect of such reductions in the Class B Invested Amount, per $1,000 original certificate principal amount:
  $ 0.00  
5. The amount, if any, by which the outstanding principal balance of the Class B Certificates exceeds the Class B Invested Amount after giving effect to all transactions on such Distribution Date:
  $ 0.00  
 
       
H. Information regarding distributions on the Distribution Date to the Collateral Interest Holder.
       
 
       
1. The total amount distributed to the Collateral Interest Holder:
  $ 6,729,826.42  
2. The amount of the distribution in respect of Collateral Minimum Monthly Interest:
  $ 195,956.40  
3. The amount of the distribution in respect of Collateral Additional Interest:
  $ 0.00  
4. The amount distributed to the Collateral Interest Holder in respect of principal on the Collateral Invested Amount:
  $ 0.00  
5. The amount distributed to the Collateral Interest Holder in respect of remaining Excess Spread:
  $ 6,533,870.02  

- 14 -


 

         
I. Amount of reductions in Collateral Invested Amount pursuant to clauses (c), (d), and (e) of the definition of Collateral Invested Amount.
       
 
       
1. The amount of reductions in the Collateral Invested Amount pursuant to clauses (c), (d), and (e) of the definition of Collateral Invested Amount:
  $ 0.00  
2. The total amount reimbursed in respect of such reductions in the Collateral Invested Amount:
  $ 0.00  
 
       
J. Application of Reallocated Investor Finance Charge Collections.
       
 
       
1. Class A Available Funds:
  $ 11,067,672.75  
a. Class A Monthly Interest:
  $ 1,556,406.60  
b. Class A Outstanding Monthly Interest:
  $ 0.00  
c. Class A Additional Interest:
  $ 0.00  
d. Class A Investor Default Amount (treated as Available Principal Collections):
  $ 2,911,506.85  
e. Excess Spread:
  $ 6,599,759.30  
2. Class B Available Funds:
  $ 994,102.34  
a. Class B Monthly Interest:
  $ 148,297.00  
b. Class B Outstanding Monthly Interest:
  $ 0.00  
c. Class B Additional Interest:
  $ 0.00  
d. Excess Spread:
  $ 845,805.34  
3. Collateral Available Funds:
  $ 1,192,922.81  
a. Excess Spread:
  $ 1,192,922.81  
4. Total Excess Spread:
  $ 8,638,487.45  

- 15 -


 

         
K. Reallocated Principal Collections.
       
 
       
1. Principal Allocation Percentage:
    78.1923 %
2. Series 2004-1 Allocable Principal Collections:
  $ 243,383,741.16  
3. Principal Allocation Percentage of Series 2004-1 Allocable Principal Collections:
  $ 190,307,409.71  
4. Reallocated Principal Collections Required to fund the Required Amount:
  $ 0.00  
5. Item 3 minus item 4:
  $ 190,307,409.71  
6. Shared Principal Collections from other Series allocated to Series 2004-1:
  $ 0.00  
7. Other amounts treated as Available Principal Collections:
  $ 3,486,834.55  
8. Available Principal Collections (total of items 5., 6. & 7.):
  $ 193,794,244.26  
 
       
L. Application of Available Principal Collections during Revolving Period.
       
 
       
1. Collateral Invested Amount:
  $ 72,000,000.00  
2. Required Collateral Invested Amount:
  $ 72,000,000.00  
3. Excess of Collateral Invested Amount over Required Collateral Invested Amount:
  $ 0.00  
4. Treated as Shared Principal Collections:
  $ 193,794,244.26  
 
       
M. Application of Principal Collections During Accumulation or Amortization Period.
       
 
       
1. Principal Funding Account:
  $ 0.00  
2. Excess of Collateral Invested Amount over Required Collateral Invested Amount:
  $ 0.00  
3. Distribution of Principal:
  $ 0.00  
4. Treated as Shared Principal Collections:
  $ 0.00  

- 16 -


 

         
N. Application of Excess Spread and Excess Finance Charge Collections Allocated to Series 2004-1.
       
 
       
1. Excess Spread:
  $ 8,638,487.45  
2. Excess Finance Charge Collections:
  $ 0.00  
3. Applied to fund Class A Required Amount:
  $ 0.00  
4. Class A Investor Charge-Offs treated as Available Principal Collections:
  $ 0.00  
5. Applied to fund overdue Class B Interest:
  $ 0.00  
6. Applied to fund Class B Required Amount:
  $ 261,512.59  
7. Reduction of Class B Invested Amount treated as Available Principal Collections:
  $ 0.00  
8. Applied to Collateral Minimum Monthly Interest:
  $ 195,956.40  
9. Applied to unpaid Monthly Servicing Fee:
  $ 1,333,333.33  
10. Collateral Default Amount treated as Available Principal Collections:
  $ 313,815.11  
11. Reduction of Collateral Invested Amount treated as Available Principal Collections:
  $ 0.00  
12. Deposited to Reserve Account:
  $ 0.00  
13. Remaining Excess Spread distributed to Collateral Interest Holder:
  $ 6,533,870.02  
 
       
O. Yield and Base Rate.
       
 
       
1. Base Rate:
       
a. Current Monthly Period:
    4.9184 %
b. Prior Monthly Period:
    5.0913 %
c. Second Prior Monthly Period:
    5.2639 %
2. Three Month Average Base Rate:
    5.0912 %
3. Series Adjusted Portfolio Yield:
       
a. Current Monthly Period:
    14.8553 %
b. Prior Monthly Period:
    16.0003 %
c. Second Prior Monthly Period:
    16.1004 %
4. Three Month Average Series Adjusted Portfolio Yield:
    15.6520 %
5. Is the 3 month average Series Adjusted Portfolio Yield more than the 3 month average Base Rate?
  Yes

- 17 -


 

Series 2004-2 Certificates
                         
            Total Investor        
A. Investor/Transferor Allocations   Series Allocations     Interest     Transferors’ Interest  
Beginning Invested Amount/Transferor Amount
    511,559,148.48       400,000,000.00       111,559,148.48  
Beginning Adjusted Invested Amount
    N/A       400,000,000.00       N/A  
Floating Allocation Percentage
    N/A       78.1923 %     21.8077 %
Principal Allocation Percentage
    N/A       78.1923 %     21.8077 %
Collections of Finance Charge Receivables
    8,568,777.72       6,700,126.66       1,868,651.06  
Collections of Principal Receivables
    121,691,870.58       95,153,704.86       26,538,165.72  
Defaulted Amount
    2,229,652.64       1,743,417.27       486,235.37  
 
                       
Ending Invested Amount / Transferor Amount
    510,357,478.40       400,000,000.00       110,357,478.40  
                                 
B. Monthly Period Funding Requirements   Class A     Class B     Collateral Interest     Total  
Principal Funding Account Balance
    0.00       0.00       0.00       0.00  
Investment Proceeds for Monthly Period
    0.00       0.00       0.00       0.00  
Reserve Account Opening Balance
    0.00       0.00       0.00       0.00  
Reserve Account Deposit
    0.00       0.00       0.00       0.00  
Reserve Draw Amount
    0.00       0.00       0.00       0.00  
Reserve Account Surplus
    0.00       0.00       0.00       0.00  
Reserve Account Closing Balance
    0.00       0.00       0.00       0.00  
 
                               
LIBOR Determination Date
  April 11, 2008   April 11, 2008   April 11, 2008        
Coupon April 15, 2008 - May 14, 2008
    2.8859 %     3.0859 %     3.3859 %        
Monthly Interest Due
    803,253.30       77,148.50       101,578.20       981,980.00  
Outstanding Monthly Interest Due
    0.00       0.00       0.00       0.00  
Additional Interest Due
    0.00       0.00       0.00       0.00  
Total Interest Due
    803,253.30       77,148.50       101,578.20       981,980.00  
Investor Default Amount
    1,455,753.42       130,756.30       156,907.55       1,743,417.27  
Investor Monthly Fees Due
    556,666.67       50,000.00       60,000.00       666,666.67  
Investor Additional Amounts Due
    0.00       0.00       0.00       0.00  
Total Due
    2,815,673.39       257,904.80       318,485.75       3,392,063.94  
 
                               
Reallocated Investor Finance Charge Collections
                            6,658,998.95  
Interest and Principal Funding Investment Proceeds
                            0.00  
Interest on Reserve Account
                            0.00  
Series Adjusted Portfolio Yield
                            14.9516 %
Base Rate
                            5.0146 %
Excess Spread Percentage
                            9.8008 %
                                 
C. Certificates - Balances and Distributions   Class A     Class B     Collateral Interest     Total  
Beginning Certificates Balance
    334,000,000.00       30,000,000.00       36,000,000.00       400,000,000.00  
Distributions of Interest
    803,253.30       77,148.50       101,578.20       981,980.00  
Deposits to the Principal Funding Account
    0.00       0.00       0.00       0.00  
Distributions of Principal
    0.00       0.00       0.00       0.00  
Total Distributions
    803,253.30       77,148.50       101,578.20       981,980.00  
Ending Certificates Balance
    334,000,000.00       30,000,000.00       36,000,000.00       400,000,000.00  

- 18 -


 

         
D. Information regarding distributions on the Distribution Date in respect of the Class A Certificates per $1,000 original certificate principal amount.
       
 
       
1. The total amount of the distribution:
  $ 2.40  
2. The amount of the distribution in respect of Class A Monthly Interest:
  $ 2.40  
3. The amount of the distribution in respect of Class A Outstanding Monthly Interest:
  $ 0.00  
4. The amount of the distribution in respect of Class A Additional Interest:
  $ 0.00  
5. The amount of the distribution in respect of principal of the Class A Certificates:
  $ 0.00  
 
       
E. Class A Investor Charge-Offs and Reimbursement of Class A Investor Charge-Offs.
       
 
       
1. The total amount of Class A Investor Charge-Offs:
  $ 0.00  
2. The amount of Class A Investor Charge- Offs per $1,000 original certificate principal amount:
  $ 0.00  
3. The total amount reimbursed in respect of Class A Investor Charge-Offs:
  $ 0.00  
4. The amount reimbursed in respect of Class A Investor Charge-Offs per $1,000 original certificate principal amount:
  $ 0.00  
5. The amount, if any, by which the outstanding principal balance of the Class A Certificates exceeds the Class A Invested Amount after giving effect to all transactions on such Distribution Date:
  $ 0.00  
 
       
F. Information regarding distributions in respect of the Class B Certificates, per $1,000 original certificate principal amount.
       
 
       
1. The total amount of the distribution in respect of Class B Certificates:
  $ 2.57  
2. The amount of the distribution in respect of Class B Monthly Interest:
  $ 2.57  
3. The amount of the distribution in respect of Class B Outstanding Monthly Interest:
  $ 0.00  
4. The amount of the distribution in respect of Class B Additional Interest:
  $ 0.00  
5. The amount of the distribution in respect of principal of the Class B Certificates:
  $ 0.00  

- 19 -


 

         
G. Amount of reductions in Class B Invested Amount pursuant to clauses (c), (d), and (e) of the definition of Class B Invested Amount on such Distribution Date.
       
 
       
1. The amount of reductions in Class B Invested Amount pursuant to clauses (c), (d), and (e) of the definition of Class B Invested Amount:
  $ 0.00  
2. The amount of reductions in the Class B Invested Amount, per $1,000 original certificate principal amount:
  $ 0.00  
3. The total amount reimbursed in respect of such reductions in the Class B Invested Amount:
  $ 0.00  
4. The amount reimbursed in respect of such reductions in the Class B Invested Amount, per $1,000 original certificate principal amount:
  $ 0.00  
5. The amount, if any, by which the outstanding principal balance of the Class B Certificates exceeds the Class B Invested Amount after giving effect to all transactions on such Distribution Date:
  $ 0.00  
 
       
H. Information regarding distributions on the Distribution Date to the Collateral Interest Holder.
       
 
       
1. The total amount distributed to the Collateral Interest Holder:
  $ 3,368,513.21  
2. The amount of the distribution in respect of Collateral Minimum Monthly Interest:
  $ 101,578.20  
3. The amount of the distribution in respect of Collateral Additional Interest:
  $ 0.00  
4. The amount distributed to the Collateral Interest Holder in respect of principal on the Collateral Invested Amount:
  $ 0.00  
5. The amount distributed to the Collateral Interest Holder in respect of remaining Excess Spread:
  $ 3,266,935.01  

- 20 -


 

         
I. Amount of reductions in Collateral Invested Amount pursuant to clauses (c), (d), and (e) of the definition of Collateral Invested Amount.
       
 
       
1. The amount of reductions in the Collateral Invested Amount pursuant to clauses (c), (d), and (e) of the definition of Collateral Invested Amount:
  $ 0.00  
2. The total amount reimbursed in respect of such reductions in the Collateral Invested Amount:
  $ 0.00  
 
       
J. Application of Reallocated Investor Finance Charge Collections.
       
 
       
1. Class A Available Funds:
  $ 5,560,264.12  
a. Class A Monthly Interest:
  $ 803,253.30  
b. Class A Outstanding Monthly Interest:
  $ 0.00  
c. Class A Additional Interest:
  $ 0.00  
d. Class A Investor Default Amount (treated as Available Principal Collections):
  $ 1,455,753.42  
e. Excess Spread:
  $ 3,301,257.40  
2. Class B Available Funds:
  $ 499,424.92  
a. Class B Monthly Interest:
  $ 77,148.50  
b. Class B Outstanding Monthly Interest:
  $ 0.00  
c. Class B Additional Interest:
  $ 0.00  
d. Excess Spread:
  $ 422,276.42  
3. Collateral Available Funds:
  $ 599,309.91  
a. Excess Spread:
  $ 599,309.91  
4. Total Excess Spread:
  $ 4,322,843.73  

- 21 -


 

         
K. Reallocated Principal Collections.
       
 
       
1. Principal Allocation Percentage:
    78.1923 %
2. Series 2004-2 Allocable Principal Collections:
  $ 121,691,870.58  
3. Principal Allocation Percentage of Series 2004-2 Allocable Principal Collections:
  $ 95,153,704.86  
4. Reallocated Principal Collections Required to fund the Required Amount:
  $ 0.00  
5. Item 3 minus item 4:
  $ 95,153,704.86  
6. Shared Principal Collections from other Series allocated to Series 2004-2:
  $ 0.00  
7. Other amounts treated as Available Principal Collections:
  $ 1,743,417.27  
8. Available Principal Collections (total of items 5., 6. & 7.):
  $ 96,897,122.13  
 
       
L. Application of Available Principal Collections during Revolving Period.
       
 
       
1. Collateral Invested Amount:
  $ 36,000,000.00  
2. Required Collateral Invested Amount:
  $ 36,000,000.00  
3. Excess of Collateral Invested Amount over Required Collateral Invested Amount:
  $ 0.00  
4. Treated as Shared Principal Collections:
  $ 96,897,122.13  
 
       
M. Application of Principal Collections During Accumulation or Amortization Period.
       
 
       
1. Principal Funding Account:
  $ 0.00  
2. Excess of Collateral Invested Amount over Required Collateral Invested Amount:
  $ 0.00  
3. Distribution of Principal:
  $ 0.00  
4. Treated as Shared Principal Collections:
  $ 0.00  

- 22 -


 

         
N. Application of Excess Spread and Excess Finance Charge Collections Allocated to Series 2004-2.
       
 
       
1. Excess Spread:
  $ 4,322,843.73  
2. Excess Finance Charge Collections:
  $ 0.00  
3. Applied to fund Class A Required Amount:
  $ 0.00  
4. Class A Investor Charge-Offs treated as Available Principal Collections:
  $ 0.00  
5. Applied to fund overdue Class B Interest:
  $ 0.00  
6. Applied to fund Class B Required Amount:
  $ 130,756.30  
7. Reduction of Class B Invested Amount treated as Available Principal Collections:
  $ 0.00  
8. Applied to Collateral Minimum Monthly Interest:
  $ 101,578.20  
9. Applied to unpaid Monthly Servicing Fee:
  $ 666,666.67  
10. Collateral Default Amount treated as Available Principal Collections:
  $ 156,907.55  
11. Reduction of Collateral Invested Amount treated as Available Principal Collections:
  $ 0.00  
12. Deposited to Reserve Account:
  $ 0.00  
13. Remaining Excess Spread distributed to Collateral Interest Holder:
  $ 3,266,935.01  
 
       
O. Yield and Base Rate.
       
 
       
1. Base Rate:
       
a. Current Monthly Period:
    5.0146 %
b. Prior Monthly Period:
    5.1875 %
c. Second Prior Monthly Period:
    5.3602 %
2. Three Month Average Base Rate:
    5.1874 %
3. Series Adjusted Portfolio Yield:
       
a. Current Monthly Period:
    14.9516 %
b. Prior Monthly Period:
    16.0934 %
c. Second Prior Monthly Period:
    16.1999 %
4. Three Month Average Series Adjusted Portfolio Yield:
    15.7483 %
5. Is the 3 month average Series Adjusted Portfolio Yield more than the 3 month average Base Rate?
  Yes  

- 23 -


 

Series 2004-3 Certificates
                         
            Total Investor        
A. Investor/Transferor Allocations   Series Allocations     Interest     Transferors’ Interest  
Beginning Invested Amount/Transferor Amount
    767,338,722.73       600,000,000.00       167,338,722.73  
Beginning Adjusted Invested Amount
    N/A       600,000,000.00       N/A  
Floating Allocation Percentage
    N/A       78.1923 %     21.8077 %
Principal Allocation Percentage
    N/A       78.1923 %     21.8077 %
Collections of Finance Charge Receivables
    12,853,166.58       10,050,189.99       2,802,976.59  
Collections of Principal Receivables
    182,537,805.87       142,730,557.29       39,807,248.58  
Defaulted Amount
    3,344,478.96       2,615,125.91       729,353.05  
 
                       
Ending Invested Amount / Transferor Amount
    765,536,217.60       600,000,000.00       165,536,217.60  
                                 
B. Monthly Period Funding Requirements   Class A     Class B     Collateral Interest     Total  
Principal Funding Account Balance
    0.00       0.00       0.00       0.00  
Investment Proceeds for Monthly Period
    0.00       0.00       0.00       0.00  
Reserve Account Opening Balance
    0.00       0.00       0.00       0.00  
Reserve Account Deposit
    0.00       0.00       0.00       0.00  
Reserve Draw Amount
    0.00       0.00       0.00       0.00  
Reserve Account Surplus
    0.00       0.00       0.00       0.00  
Reserve Account Closing Balance
    0.00       0.00       0.00       0.00  
 
                               
LIBOR Determination Date
  NA     NA     April 11, 2008          
Coupon April 15, 2008 - May 14, 2008
    4.3500 %     4.5500 %     3.1859 %        
Monthly Interest Due
    1,892,250.00       113,750.00       127,437.60       2,133,437.60  
Outstanding Monthly Interest Due
    0.00       0.00       0.00       0.00  
Additional Interest Due
    0.00       0.00       0.00       0.00  
Total Interest Due
    1,892,250.00       113,750.00       127,437.60       2,133,437.60  
Investor Default Amount
    2,275,159.54       130,756.30       209,210.07       2,615,125.91  
Investor Monthly Fees Due
    870,000.00       50,000.00       80,000.00       1,000,000.00  
Investor Additional Amounts Due
    0.00       0.00       0.00       0.00  
Total Due
    5,037,409.54       294,506.30       416,647.67       5,748,563.51  
 
                               
Reallocated Investor Finance Charge Collections
                            9,796,752.54  
Interest and Principal Funding Investment Proceeds
                            0.00  
Interest on Reserve Account
                            0.00  
Series Adjusted Portfolio Yield
                            14.5627 %
Base Rate
                            6.3539 %
Excess Spread Percentage
                            8.0964 %
                                 
C. Certificates - Balances and Distributions   Class A     Class B     Collateral Interest     Total  
Beginning Certificates Balance
    522,000,000.00       30,000,000.00       48,000,000.00       600,000,000.00  
Distributions of Interest
    1,892,250.00       113,750.00       127,437.60       2,133,437.60  
Deposits to the Principal Funding Account
    0.00       0.00       0.00       0.00  
Distributions of Principal
    0.00       0.00       0.00       0.00  
Total Distributions
    1,892,250.00       113,750.00       127,437.60       2,133,437.60  
Ending Certificates Balance
    522,000,000.00       30,000,000.00       48,000,000.00       600,000,000.00  

- 24 -


 

         
D. Information regarding distributions on the Distribution Date in respect of the Class A Certificates per $1,000 original certificate principal amount.
       
 
       
1. The total amount of the distribution:
  $ 3.63  
2. The amount of the distribution in respect of Class A Monthly Interest:
  $ 3.63  
3. The amount of the distribution in respect of Class A Outstanding Monthly Interest:
  $ 0.00  
4. The amount of the distribution in respect of Class A Additional Interest:
  $ 0.00  
5. The amount of the distribution in respect of principal of the Class A Certificates:
  $ 0.00  
 
       
E. Class A Investor Charge-Offs and Reimbursement of Class A Investor Charge-Offs.
       
 
       
1. The total amount of Class A Investor Charge-Offs:
  $ 0.00  
2. The amount of Class A Investor Charge- Offs per $1,000 original certificate principal amount:
  $ 0.00  
3. The total amount reimbursed in respect of Class A Investor Charge-Offs:
  $ 0.00  
4. The amount reimbursed in respect of Class A Investor Charge-Offs per $1,000 original certificate principal amount:
  $ 0.00  
5. The amount, if any, by which the outstanding principal balance of the Class A Certificates exceeds the Class A Invested Amount after giving effect to all transactions on such Distribution Date:
  $ 0.00  
 
       
F. Information regarding distributions in respect of the Class B Certificates, per $1,000 original certificate principal amount.
       
 
       
1. The total amount of the distribution in respect of Class B Certificates:
  $ 3.79  
2. The amount of the distribution in respect of Class B Monthly Interest:
  $ 3.79  
3. The amount of the distribution in respect of Class B Outstanding Monthly Interest:
  $ 0.00  
4. The amount of the distribution in respect of Class B Additional Interest:
  $ 0.00  
5. The amount of the distribution in respect of principal of the Class B Certificates:
  $ 0.00  

- 25 -


 

         
G. Amount of reductions in Class B Invested Amount pursuant to clauses (c), (d), and (e) of the definition of Class B Invested Amount on such Distribution Date.
       
 
       
1. The amount of reductions in Class B Invested Amount pursuant to clauses (c), (d), and (e) of the definition of Class B Invested Amount:
  $ 0.00  
2. The amount of reductions in the Class B Invested Amount, per $1,000 original certificate principal amount:
  $ 0.00  
3. The total amount reimbursed in respect of such reductions in the Class B Invested Amount:
  $ 0.00  
4. The amount reimbursed in respect of such reductions in the Class B Invested Amount, per $1,000 original certificate principal amount:
  $ 0.00  
5. The amount, if any, by which the outstanding principal balance of the Class B Certificates exceeds the Class B Invested Amount after giving effect to all transactions on such Distribution Date:
  $ 0.00  
 
       
H. Information regarding distributions on the Distribution Date to the Collateral Interest Holder.
       
 
       
1. The total amount distributed to the Collateral Interest Holder:
  $ 4,175,626.63  
2. The amount of the distribution in respect of Collateral Minimum Monthly Interest:
  $ 127,437.60  
3. The amount of the distribution in respect of Collateral Additional Interest:
  $ 0.00  
4. The amount distributed to the Collateral Interest Holder in respect of principal on the Collateral Invested Amount:
  $ 0.00  
5. The amount distributed to the Collateral Interest Holder in respect of remaining Excess Spread:
  $ 4,048,189.03  

- 26 -


 

         
I. Amount of reductions in Collateral Invested Amount pursuant to clauses (c), (d), and (e) of the definition of Collateral Invested Amount.
       
 
       
1. The amount of reductions in the Collateral Invested Amount pursuant to clauses (c), (d), and (e) of the definition of Collateral Invested Amount:
  $ 0.00  
2. The total amount reimbursed in respect of such reductions in the Collateral Invested Amount:
  $ 0.00  
 
       
J. Application of Reallocated Investor Finance Charge Collections.
       
 
       
1. Class A Available Funds:
  $ 8,523,174.71  
a. Class A Monthly Interest:
  $ 1,892,250.00  
b. Class A Outstanding Monthly Interest:
  $ 0.00  
c. Class A Additional Interest:
  $ 0.00  
d. Class A Investor Default Amount (treated as Available Principal Collections):
  $ 2,275,159.54  
e. Excess Spread:
  $ 4,355,765.17  
2. Class B Available Funds:
  $ 489,837.63  
a. Class B Monthly Interest:
  $ 113,750.00  
b. Class B Outstanding Monthly Interest:
  $ 0.00  
c. Class B Additional Interest:
  $ 0.00  
d. Excess Spread:
  $ 376,087.63  
3. Collateral Available Funds:
  $ 783,740.20  
a. Excess Spread:
  $ 783,740.20  
4. Total Excess Spread:
  $ 5,515,593.00  

- 27 -


 

         
K. Reallocated Principal Collections.
       
 
       
1. Principal Allocation Percentage:
    78.1923 %
2. Series 2004-3 Allocable Principal Collections:
  $ 182,537,805.87  
3. Principal Allocation Percentage of Series 2004-3 Allocable Principal Collections:
  $ 142,730,557.29  
4. Reallocated Principal Collections Required to fund the Required Amount:
  $ 0.00  
5. Item 3 minus item 4:
  $ 142,730,557.29  
6. Shared Principal Collections from other Series allocated to Series 2004-3:
  $ 0.00  
7. Other amounts treated as Available Principal Collections:
  $ 2,615,125.91  
8. Available Principal Collections (total of items 5., 6. & 7.):
  $ 145,345,683.20  
 
       
L. Application of Available Principal Collections during Revolving Period.
       
 
       
1. Collateral Invested Amount:
  $ 48,000,000.00  
2. Required Collateral Invested Amount:
  $ 48,000,000.00  
3. Excess of Collateral Invested Amount over Required Collateral Invested Amount:
  $ 0.00  
4. Treated as Shared Principal Collections:
  $ 145,345,683.20  
 
       
M. Application of Principal Collections During Accumulation or Amortization Period.
       
 
       
1. Principal Funding Account:
  $ 0.00  
2. Excess of Collateral Invested Amount over Required Collateral Invested Amount:
  $ 0.00  
3. Distribution of Principal:
  $ 0.00  
4. Treated as Shared Principal Collections:
  $ 0.00  

- 28 -


 

         
N. Application of Excess Spread and Excess Finance Charge Collections Allocated to Series 2004-3.
       
 
       
1. Excess Spread:
  $ 5,515,593.00  
2. Excess Finance Charge Collections:
  $ 0.00  
3. Applied to fund Class A Required Amount:
  $ 0.00  
4. Class A Investor Charge-Offs treated as Available Principal Collections:
  $ 0.00  
5. Applied to fund overdue Class B Interest:
  $ 0.00  
6. Applied to fund Class B Required Amount:
  $ 130,756.30  
7. Reduction of Class B Invested Amount treated as Available Principal Collections:
  $ 0.00  
8. Applied to Collateral Minimum Monthly Interest:
  $ 127,437.60  
9. Applied to unpaid Monthly Servicing Fee:
  $ 1,000,000.00  
10. Collateral Default Amount treated as Available Principal Collections:
  $ 209,210.07  
11. Reduction of Collateral Invested Amount treated as Available Principal Collections:
  $ 0.00  
12. Deposited to Reserve Account:
  $ 0.00  
13. Remaining Excess Spread distributed to Collateral Interest Holder:
  $ 4,048,189.03  
 
       
O. Yield and Base Rate.
       
 
       
1. Base Rate:
       
a. Current Monthly Period:
    6.3539 %
b. Prior Monthly Period:
    6.5723 %
c. Second Prior Monthly Period:
    6.1902 %
2. Three Month Average Base Rate:
    6.3721 %
3. Series Adjusted Portfolio Yield:
       
a. Current Monthly Period:
    14.5627 %
b. Prior Monthly Period:
    15.6077 %
c. Second Prior Monthly Period:
    15.6697 %
4. Three Month Average Series Adjusted Portfolio Yield:
    15.2801 %
5. Is the 3 month average Series Adjusted Portfolio Yield more than the 3 month average Base Rate?
  Yes  

- 29 -


 

Series 2004-4 Certificates
                         
            Total Investor        
A. Investor/Transferor Allocations   Series Allocations     Interest     Transferors’ Interest  
Beginning Invested Amount/Transferor Amount
    1,406,787,658.33       1,100,000,000.00       306,787,658.33  
Beginning Adjusted Invested Amount
    N/A       1,100,000,000.00       N/A  
Floating Allocation Percentage
    N/A       78.1923 %     21.8077 %
Principal Allocation Percentage
    N/A       78.1923 %     21.8077 %
Collections of Finance Charge Receivables
    23,564,138.73       18,425,348.31       5,138,790.42  
Collections of Principal Receivables
    334,652,644.10       261,672,688.36       72,979,955.74  
Defaulted Amount
    6,131,544.76       4,794,397.50       1,337,147.26  
 
                       
Ending Invested Amount / Transferor Amount
    1,403,483,065.60       1,100,000,000.00       303,483,065.60  
                                 
B. Monthly Period Funding Requirements   Class A     Class B     Collateral Interest     Total  
Principal Funding Account Balance
    0.00       0.00       0.00       0.00  
Investment Proceeds for Monthly Period
    0.00       0.00       0.00       0.00  
Reserve Account Opening Balance
    0.00       0.00       0.00       0.00  
Reserve Account Deposit
    0.00       0.00       0.00       0.00  
Reserve Draw Amount
    0.00       0.00       0.00       0.00  
Reserve Account Surplus
    0.00       0.00       0.00       0.00  
Reserve Account Closing Balance
    0.00       0.00       0.00       0.00  
 
                               
LIBOR Determination Date
  April 11, 2008     April 11, 2008     April 11, 2008          
Coupon April 15, 2008 - May 14, 2008
    2.8059 %     2.9959 %     3.1859 %        
Monthly Interest Due
    2,147,713.24       205,970.88       262,840.05       2,616,524.17  
Outstanding Monthly Interest Due
    0.00       0.00       0.00       0.00  
Additional Interest Due
    0.00       0.00       0.00       0.00  
Total Interest Due
    2,147,713.24       205,970.88       262,840.05       2,616,524.17  
Investor Default Amount
    4,003,321.91       359,579.81       431,495.78       4,794,397.50  
Investor Monthly Fees Due
    1,530,833.33       137,500.00       165,000.00       1,833,333.33  
Investor Additional Amounts Due
    0.00       0.00       0.00       0.00  
Total Due
    7,681,868.48       703,050.69       859,335.83       9,244,255.00  
 
                               
Reallocated Investor Finance Charge Collections
                            18,228,326.28  
Interest and Principal Funding Investment Proceeds
                            0.00  
Interest on Reserve Account
                            0.00  
Series Adjusted Portfolio Yield
                            14.8587 %
Base Rate
                            4.9218 %
Excess Spread Percentage
                            9.8008 %
                                 
C. Certificates - Balances and Distributions   Class A     Class B     Collateral Interest     Total  
Beginning Certificates Balance
    918,500,000.00       82,500,000.00       99,000,000.00       1,100,000,000.00  
Distributions of Interest
    2,147,713.24       205,970.88       262,840.05       2,616,524.17  
Deposits to the Principal Funding Account
    0.00       0.00       0.00       0.00  
Distributions of Principal
    0.00       0.00       0.00       0.00  
Total Distributions
    2,147,713.24       205,970.88       262,840.05       2,616,524.17  
Ending Certificates Balance
    918,500,000.00       82,500,000.00       99,000,000.00       1,100,000,000.00  

- 30 -


 

         
D. Information regarding distributions on the Distribution Date in respect of the Class A Certificates per $1,000 original certificate principal amount.
       
 
       
1. The total amount of the distribution:
  $ 2.34  
2. The amount of the distribution in respect of Class A Monthly Interest:
  $ 2.34  
3. The amount of the distribution in respect of Class A Outstanding Monthly Interest:
  $ 0.00  
4. The amount of the distribution in respect of Class A Additional Interest:
  $ 0.00  
5. The amount of the distribution in respect of principal of the Class A Certificates:
  $ 0.00  
 
       
E. Class A Investor Charge-Offs and Reimbursement of Class A Investor Charge-Offs.
       
 
       
1. The total amount of Class A Investor Charge-Offs:
  $ 0.00  
2. The amount of Class A Investor Charge- Offs per $1,000 original certificate principal amount:
  $ 0.00  
3. The total amount reimbursed in respect of Class A Investor Charge-Offs:
  $ 0.00  
4. The amount reimbursed in respect of Class A Investor Charge-Offs per $1,000 original certificate principal amount:
  $ 0.00  
5. The amount, if any, by which the outstanding principal balance of the Class A Certificates exceeds the Class A Invested Amount after giving effect to all transactions on such Distribution Date:
  $ 0.00  
 
       
F. Information regarding distributions in respect of the Class B Certificates, per $1,000 original certificate principal amount.
       
 
       
1. The total amount of the distribution in respect of Class B Certificates:
  $ 2.50  
2. The amount of the distribution in respect of Class B Monthly Interest:
  $ 2.50  
3. The amount of the distribution in respect of Class B Outstanding Monthly Interest:
  $ 0.00  
4. The amount of the distribution in respect of Class B Additional Interest:
  $ 0.00  
5. The amount of the distribution in respect of principal of the Class B Certificates:
  $ 0.00  

- 31 -


 

         
G. Amount of reductions in Class B Invested Amount pursuant to clauses (c), (d), and (e) of the definition of Class B Invested Amount on such Distribution Date.
       
 
       
1. The amount of reductions in Class B Invested Amount pursuant to clauses (c), (d), and (e) of the definition of Class B Invested Amount:
  $ 0.00  
2. The amount of reductions in the Class B Invested Amount, per $1,000 original certificate principal amount:
  $ 0.00  
3. The total amount reimbursed in respect of such reductions in the Class B Invested Amount:
  $ 0.00  
4. The amount reimbursed in respect of such reductions in the Class B Invested Amount, per $1,000 original certificate principal amount:
  $ 0.00  
5. The amount, if any, by which the outstanding principal balance of the Class B Certificates exceeds the Class B Invested Amount after giving effect to all transactions on such Distribution Date:
  $ 0.00  
 
       
H. Information regarding distributions on the Distribution Date to the Collateral Interest Holder.
       
 
       
1. The total amount distributed to the Collateral Interest Holder:
  $ 9,246,911.33  
2. The amount of the distribution in respect of Collateral Minimum Monthly Interest:
  $ 262,840.05  
3. The amount of the distribution in respect of Collateral Additional Interest:
  $ 0.00  
4. The amount distributed to the Collateral Interest Holder in respect of principal on the Collateral Invested Amount:
  $ 0.00  
5. The amount distributed to the Collateral Interest Holder in respect of remaining Excess Spread:
  $ 8,984,071.28  

- 32 -


 

         
I. Amount of reductions in Collateral Invested Amount pursuant to clauses (c), (d), and (e) of the definition of Collateral Invested Amount.
       
 
       
1. The amount of reductions in the Collateral Invested Amount pursuant to clauses (c), (d), and (e) of the definition of Collateral Invested Amount:
  $ 0.00  
2. The total amount reimbursed in respect of such reductions in the Collateral Invested Amount:
  $ 0.00  
 
       
J. Application of Reallocated Investor Finance Charge Collections.
       
 
       
1. Class A Available Funds:
  $ 15,220,652.44  
a. Class A Monthly Interest:
  $ 2,147,713.24  
b. Class A Outstanding Monthly Interest:
  $ 0.00  
c. Class A Additional Interest:
  $ 0.00  
d. Class A Investor Default Amount (treated as Available Principal Collections):
  $ 4,003,321.91  
e. Excess Spread:
  $ 9,069,617.29  
2. Class B Available Funds:
  $ 1,367,124.47  
a. Class B Monthly Interest:
  $ 205,970.88  
b. Class B Outstanding Monthly Interest:
  $ 0.00  
c. Class B Additional Interest:
  $ 0.00  
d. Excess Spread:
  $ 1,161,153.59  
3. Collateral Available Funds:
  $ 1,640,549.37  
a. Excess Spread:
  $ 1,640,549.37  
4. Total Excess Spread:
  $ 11,871,320.25  

- 33 -


 

         
K. Reallocated Principal Collections.
       
 
       
1. Principal Allocation Percentage:
    78.1923 %
2. Series 2004-4 Allocable Principal Collections:
  $ 334,652,644.10  
3. Principal Allocation Percentage of Series 2004-4 Allocable Principal Collections:
  $ 261,672,688.36  
4. Reallocated Principal Collections Required to fund the Required Amount:
  $ 0.00  
5. Item 3 minus item 4:
  $ 261,672,688.36  
6. Shared Principal Collections from other Series allocated to Series 2004-4:
  $ 0.00  
7. Other amounts treated as Available Principal Collections:
  $ 4,794,397.50  
8. Available Principal Collections (total of items 5., 6. & 7.):
  $ 266,467,085.86  
 
       
L. Application of Available Principal Collections during Revolving Period.
       
 
       
1. Collateral Invested Amount:
  $ 99,000,000.00  
2. Required Collateral Invested Amount:
  $ 99,000,000.00  
3. Excess of Collateral Invested Amount over Required Collateral Invested Amount:
  $ 0.00  
4. Treated as Shared Principal Collections:
  $ 266,467,085.86  
 
       
M. Application of Principal Collections During Accumulation or Amortization Period.
       
 
       
1. Principal Funding Account:
  $ 0.00  
2. Excess of Collateral Invested Amount over Required Collateral Invested Amount:
  $ 0.00  
3. Distribution of Principal:
  $ 0.00  
4. Treated as Shared Principal Collections:
  $ 0.00  

- 34 -


 

         
N. Application of Excess Spread and Excess Finance Charge Collections Allocated to Series 2004-4.
       
 
       
1. Excess Spread:
  $ 11,871,320.25  
2. Excess Finance Charge Collections:
  $ 0.00  
3. Applied to fund Class A Required Amount:
  $ 0.00  
4. Class A Investor Charge-Offs treated as Available Principal Collections:
  $ 0.00  
5. Applied to fund overdue Class B Interest:
  $ 0.00  
6. Applied to fund Class B Required Amount:
  $ 359,579.81  
7. Reduction of Class B Invested Amount treated as Available Principal Collections:
  $ 0.00  
8. Applied to Collateral Minimum Monthly Interest:
  $ 262,840.05  
9. Applied to unpaid Monthly Servicing Fee:
  $ 1,833,333.33  
10. Collateral Default Amount treated as Available Principal Collections:
  $ 431,495.78  
11. Reduction of Collateral Invested Amount treated as Available Principal Collections:
  $ 0.00  
12. Deposited to Reserve Account:
  $ 0.00  
13. Remaining Excess Spread distributed to Collateral Interest Holder:
  $ 8,984,071.28  
 
       
O. Yield and Base Rate.
       
 
       
1. Base Rate:
       
a. Current Monthly Period:
    4.9218 %
b. Prior Monthly Period:
    5.0947 %
c. Second Prior Monthly Period:
    5.2673 %
2. Three Month Average Base Rate:
    5.0946 %
3. Series Adjusted Portfolio Yield:
       
a. Current Monthly Period:
    14.8587 %
b. Prior Monthly Period:
    16.0037 %
c. Second Prior Monthly Period:
    16.1040 %
4. Three Month Average Series Adjusted Portfolio Yield:
    15.6555 %
5. Is the 3 month average Series Adjusted Portfolio Yield more than the 3 month average Base Rate?
  Yes  

- 35 -


 

Series 2004-5 Certificates
                         
            Total Investor        
A. Investor/Transferor Allocations   Series Allocations     Interest     Transferors’ Interest  
Beginning Invested Amount/Transferor Amount
    1,278,897,871.21       1,000,000,000.00       278,897,871.21  
Beginning Adjusted Invested Amount
    N/A       1,000,000,000.00       N/A  
Floating Allocation Percentage
    N/A       78.1923 %     21.8077 %
Principal Allocation Percentage
    N/A       78.1923 %     21.8077 %
Collections of Finance Charge Receivables
    21,421,944.30       16,750,316.65       4,671,627.65  
Collections of Principal Receivables
    304,229,676.46       237,884,262.15       66,345,414.31  
Defaulted Amount
    5,574,131.60       4,358,543.18       1,215,588.42  
 
                       
Ending Invested Amount / Transferor Amount
    1,275,893,696.00       1,000,000,000.00       275,893,696.00  
                                 
B. Monthly Period Funding Requirements   Class A     Class B     Collateral Interest     Total  
Principal Funding Account Balance
    0.00       0.00       0.00       0.00  
Investment Proceeds for Monthly Period
    0.00       0.00       0.00       0.00  
Reserve Account Opening Balance
    0.00       0.00       0.00       0.00  
Reserve Account Deposit
    0.00       0.00       0.00       0.00  
Reserve Draw Amount
    0.00       0.00       0.00       0.00  
Reserve Account Surplus
    0.00       0.00       0.00       0.00  
Reserve Account Closing Balance
    0.00       0.00       0.00       0.00  
 
                               
LIBOR Determination Date
  April 11, 2008     April 11, 2008     April 11, 2008          
Coupon April 15, 2008 - May 14, 2008
    2.8059 %     2.9659 %     3.1759 %        
Monthly Interest Due
    1,952,466.58       185,371.25       238,195.50       2,376,033.33  
Outstanding Monthly Interest Due
    0.00       0.00       0.00       0.00  
Additional Interest Due
    0.00       0.00       0.00       0.00  
Total Interest Due
    1,952,466.58       185,371.25       238,195.50       2,376,033.33  
Investor Default Amount
    3,639,383.56       326,890.74       392,268.89       4,358,543.18  
Investor Monthly Fees Due
    1,391,666.67       125,000.00       150,000.00       1,666,666.67  
Investor Additional Amounts Due
    0.00       0.00       0.00       0.00  
Total Due
    6,983,516.81       637,261.99       780,464.39       8,401,243.19  
 
                               
Reallocated Investor Finance Charge Collections
                            16,568,580.70  
Interest and Principal Funding Investment Proceeds
                            0.00  
Interest on Reserve Account
                            0.00  
Series Adjusted Portfolio Yield
                            14.8555 %
Base Rate
                            4.9186 %
Excess Spread Percentage
                            9.8008 %
                                 
C. Certificates - Balances and Distributions   Class A     Class B     Collateral Interest     Total  
Beginning Certificates Balance
    835,000,000.00       75,000,000.00       90,000,000.00       1,000,000,000.00  
Distributions of Interest
    1,952,466.58       185,371.25       238,195.50       2,376,033.33  
Deposits to the Principal Funding Account
    0.00       0.00       0.00       0.00  
Distributions of Principal
    0.00       0.00       0.00       0.00  
Total Distributions
    1,952,466.58       185,371.25       238,195.50       2,376,033.33  
Ending Certificates Balance
    835,000,000.00       75,000,000.00       90,000,000.00       1,000,000,000.00  

- 36 -


 

         
D. Information regarding distributions on the Distribution Date in respect of the Class A Certificates per $1,000 original certificate principal amount.
       
 
       
1. The total amount of the distribution:
  $ 2.34  
2. The amount of the distribution in respect of Class A Monthly Interest:
  $ 2.34  
3. The amount of the distribution in respect of Class A Outstanding Monthly Interest:
  $ 0.00  
4. The amount of the distribution in respect of Class A Additional Interest:
  $ 0.00  
5. The amount of the distribution in respect of principal of the Class A Certificates:
  $ 0.00  
 
       
E. Class A Investor Charge-Offs and Reimbursement of Class A Investor Charge-Offs.
       
 
       
1. The total amount of Class A Investor Charge-Offs:
  $ 0.00  
2. The amount of Class A Investor Charge- Offs per $1,000 original certificate principal amount:
  $ 0.00  
3. The total amount reimbursed in respect of Class A Investor Charge-Offs:
  $ 0.00  
4. The amount reimbursed in respect of Class A Investor Charge-Offs per $1,000 original certificate principal amount:
  $ 0.00  
5. The amount, if any, by which the outstanding principal balance of the Class A Certificates exceeds the Class A Invested Amount after giving effect to all transactions on such Distribution Date:
  $ 0.00  
 
       
F. Information regarding distributions in respect of the Class B Certificates, per $1,000 original certificate principal amount.
       
 
       
1. The total amount of the distribution in respect of Class B Certificates:
  $ 2.47  
2. The amount of the distribution in respect of Class B Monthly Interest:
  $ 2.47  
3. The amount of the distribution in respect of Class B Outstanding Monthly Interest:
  $ 0.00  
4. The amount of the distribution in respect of Class B Additional Interest:
  $ 0.00  
5. The amount of the distribution in respect of principal of the Class B Certificates:
  $ 0.00  

- 37 -


 

         
G. Amount of reductions in Class B Invested Amount pursuant to clauses (c), (d), and (e) of the definition of Class B Invested Amount on such Distribution Date.
       
 
       
1. The amount of reductions in Class B Invested Amount pursuant to clauses (c), (d), and (e) of the definition of Class B Invested Amount:
  $ 0.00  
2. The amount of reductions in the Class B Invested Amount, per $1,000 original certificate principal amount:
  $ 0.00  
3. The total amount reimbursed in respect of such reductions in the Class B Invested Amount:
  $ 0.00  
4. The amount reimbursed in respect of such reductions in the Class B Invested Amount, per $1,000 original certificate principal amount:
  $ 0.00  
5. The amount, if any, by which the outstanding principal balance of the Class B Certificates exceeds the Class B Invested Amount after giving effect to all transactions on such Distribution Date:
  $ 0.00  
 
       
H. Information regarding distributions on the Distribution Date to the Collateral Interest Holder.
       
 
       
1. The total amount distributed to the Collateral Interest Holder:
  $ 8,405,533.00  
2. The amount of the distribution in respect of Collateral Minimum Monthly Interest:
  $ 238,195.50  
3. The amount of the distribution in respect of Collateral Additional Interest:
  $ 0.00  
4. The amount distributed to the Collateral Interest Holder in respect of principal on the Collateral Invested Amount:
  $ 0.00  
5. The amount distributed to the Collateral Interest Holder in respect of remaining Excess Spread:
  $ 8,167,337.50  

- 38 -


 

         
I. Amount of reductions in Collateral Invested Amount pursuant to clauses (c), (d), and (e) of the definition of Collateral Invested Amount.
       
 
       
1. The amount of reductions in the Collateral Invested Amount pursuant to clauses (c), (d), and (e) of the definition of Collateral Invested Amount:
  $ 0.00  
2. The total amount reimbursed in respect of such reductions in the Collateral Invested Amount:
  $ 0.00  
 
       
J. Application of Reallocated Investor Finance Charge Collections.
       
 
       
1. Class A Available Funds:
  $ 13,834,764.88  
a. Class A Monthly Interest:
  $ 1,952,466.58  
b. Class A Outstanding Monthly Interest:
  $ 0.00  
c. Class A Additional Interest:
  $ 0.00  
d. Class A Investor Default Amount (treated as Available Principal Collections):
  $ 3,639,383.56  
e. Excess Spread:
  $ 8,242,914.74  
2. Class B Available Funds:
  $ 1,242,643.55  
a. Class B Monthly Interest:
  $ 185,371.25  
b. Class B Outstanding Monthly Interest:
  $ 0.00  
c. Class B Additional Interest:
  $ 0.00  
d. Excess Spread:
  $ 1,057,272.30  
3. Collateral Available Funds:
  $ 1,491,172.26  
a. Excess Spread:
  $ 1,491,172.26  
4. Total Excess Spread:
  $ 10,791,359.30  

- 39 -


 

         
K. Reallocated Principal Collections.
       
 
       
1. Principal Allocation Percentage:
    78.1923 %
2. Series 2004-5 Allocable Principal Collections:
  $ 304,229,676.46  
3. Principal Allocation Percentage of Series 2004-5 Allocable Principal Collections:
  $ 237,884,262.15  
4. Reallocated Principal Collections Required to fund the Required Amount:
  $ 0.00  
5. Item 3 minus item 4:
  $ 237,884,262.15  
6. Shared Principal Collections from other Series allocated to Series 2004-5:
  $ 0.00  
7. Other amounts treated as Available Principal Collections:
  $ 4,358,543.19  
8. Available Principal Collections (total of items 5., 6. & 7.):
  $ 242,242,805.34  
 
       
L. Application of Available Principal Collections during Revolving Period.
       
 
       
1. Collateral Invested Amount:
  $ 90,000,000.00  
2. Required Collateral Invested Amount:
  $ 90,000,000.00  
3. Excess of Collateral Invested Amount over Required Collateral Invested Amount:
  $ 0.00  
4. Treated as Shared Principal Collections:
  $ 242,242,805.34  
 
       
M. Application of Principal Collections During Accumulation or Amortization Period.
       
 
       
1. Principal Funding Account:
  $ 0.00  
2. Excess of Collateral Invested Amount over Required Collateral Invested Amount:
  $ 0.00  
3. Distribution of Principal:
  $ 0.00  
4. Treated as Shared Principal Collections:
  $ 0.00  

- 40 -


 

         
N. Application of Excess Spread and Excess Finance Charge Collections Allocated to Series 2004-5.
       
 
       
1. Excess Spread:
  $ 10,791,359.30  
2. Excess Finance Charge Collections:
  $ 0.00  
3. Applied to fund Class A Required Amount:
  $ 0.00  
4. Class A Investor Charge-Offs treated as Available Principal Collections:
  $ 0.00  
5. Applied to fund overdue Class B Interest:
  $ 0.00  
6. Applied to fund Class B Required Amount:
  $ 326,890.74  
7. Reduction of Class B Invested Amount treated as Available Principal Collections:
  $ 0.00  
8. Applied to Collateral Minimum Monthly Interest:
  $ 238,195.50  
9. Applied to unpaid Monthly Servicing Fee:
  $ 1,666,666.67  
10. Collateral Default Amount treated as Available Principal Collections:
  $ 392,268.89  
11. Reduction of Collateral Invested Amount treated as Available Principal Collections:
  $ 0.00  
12. Deposited to Reserve Account:
  $ 0.00  
13. Remaining Excess Spread distributed to Collateral Interest Holder:
  $ 8,167,337.50  
 
       
O. Yield and Base Rate.
       
 
       
1. Base Rate:
       
a. Current Monthly Period:
    4.9186 %
b. Prior Monthly Period:
    5.0915 %
c. Second Prior Monthly Period:
    5.2641 %
2. Three Month Average Base Rate:
    5.0914 %
3. Series Adjusted Portfolio Yield:
       
a. Current Monthly Period:
    14.8555 %
b. Prior Monthly Period:
    16.0006 %
c. Second Prior Monthly Period:
    16.1007 %
4. Three Month Average Series Adjusted Portfolio Yield:
    15.6523 %
5. Is the 3 month average Series Adjusted Portfolio Yield more than the 3 month average Base Rate?
  Yes  

- 41 -


 

Series 2005-1 Certificates
                         
            Total Investor        
A. Investor/Transferor Allocations   Series Allocations     Interest     Transferors’ Interest  
Beginning Invested Amount/Transferor Amount
    767,338,722.73       600,000,000.00       167,338,722.73  
Beginning Adjusted Invested Amount
    N/A       600,000,000.00       N/A  
Floating Allocation Percentage
    N/A       78.1923 %     21.8077 %
Principal Allocation Percentage
    N/A       78.1923 %     21.8077 %
Collections of Finance Charge Receivables
    12,853,166.58       10,050,189.99       2,802,976.59  
Collections of Principal Receivables
    182,537,805.87       142,730,557.29       39,807,248.58  
Defaulted Amount
    3,344,478.96       2,615,125.91       729,353.05  
 
                       
Ending Invested Amount / Transferor Amount
    765,536,217.60       600,000,000.00       165,536,217.60  
                                 
B. Monthly Period Funding Requirements   Class A     Class B     Collateral Interest     Total  
Principal Funding Account Balance
    0.00       0.00       0.00       0.00  
Investment Proceeds for Monthly Period
    0.00       0.00       0.00       0.00  
Reserve Account Opening Balance
    0.00       0.00       0.00       0.00  
Reserve Account Deposit
    0.00       0.00       0.00       0.00  
Reserve Draw Amount
    0.00       0.00       0.00       0.00  
Reserve Account Surplus
    0.00       0.00       0.00       0.00  
Reserve Account Closing Balance
    0.00       0.00       0.00       0.00  
 
                               
LIBOR Determination Date
  April 11, 2008     April 11, 2008     April 11, 2008          
Coupon April 15, 2008 - May 14, 2008
    2.7459 %     2.8359 %     3.0459 %        
Monthly Interest Due
    1,146,429.95       106,347.75       137,067.30       1,389,845.00  
Outstanding Monthly Interest Due
    0.00       0.00       0.00       0.00  
Additional Interest Due
    0.00       0.00       0.00       0.00  
Total Interest Due
    1,146,429.95       106,347.75       137,067.30       1,389,845.00  
Investor Default Amount
    2,183,630.13       196,134.44       235,361.33       2,615,125.91  
Investor Monthly Fees Due
    835,000.00       75,000.00       90,000.00       1,000,000.00  
Investor Additional Amounts Due
    0.00       0.00       0.00       0.00  
Total Due
    4,165,060.08       377,482.19       462,428.63       5,004,970.90  
 
                               
Reallocated Investor Finance Charge Collections
                            9,905,373.42  
Interest and Principal Funding Investment Proceeds
                            0.00  
Interest on Reserve Account
                            0.00  
Series Adjusted Portfolio Yield
                            14.7830 %
Base Rate
                            4.8461 %
Excess Spread Percentage
                            9.8008 %
                                 
C. Certificates - Balances and Distributions   Class A     Class B     Collateral Interest     Total  
Beginning Certificates Balance
    501,000,000.00       45,000,000.00       54,000,000.00       600,000,000.00  
Distributions of Interest
    1,146,429.95       106,347.75       137,067.30       1,389,845.00  
Deposits to the Principal Funding Account
    0.00       0.00       0.00       0.00  
Distributions of Principal
    0.00       0.00       0.00       0.00  
Total Distributions
    1,146,429.95       106,347.75       137,067.30       1,389,845.00  
Ending Certificates Balance
    501,000,000.00       45,000,000.00       54,000,000.00       600,000,000.00  

- 42 -


 

         
D. Information regarding distributions on the Distribution Date in respect of the Class A Certificates per $1,000 original certificate principal amount.
       
 
       
1. The total amount of the distribution:
  $ 2.29  
2. The amount of the distribution in respect of Class A Monthly Interest:
  $ 2.29  
3. The amount of the distribution in respect of Class A Outstanding Monthly Interest:
  $ 0.00  
4. The amount of the distribution in respect of Class A Additional Interest:
  $ 0.00  
5. The amount of the distribution in respect of principal of the Class A Certificates:
  $ 0.00  
 
       
E. Class A Investor Charge-Offs and Reimbursement of Class A Investor Charge-Offs.
       
 
       
1. The total amount of Class A Investor Charge-Offs:
  $ 0.00  
2. The amount of Class A Investor Charge- Offs per $1,000 original certificate principal amount:
  $ 0.00  
3. The total amount reimbursed in respect of Class A Investor Charge-Offs:
  $ 0.00  
4. The amount reimbursed in respect of Class A Investor Charge-Offs per $1,000 original certificate principal amount:
  $ 0.00  
5. The amount, if any, by which the outstanding principal balance of the Class A Certificates exceeds the Class A Invested Amount after giving effect to all transactions on such Distribution Date:
  $ 0.00  
 
       
F. Information regarding distributions in respect of the Class B Certificates, per $1,000 original certificate principal amount.
       
 
       
1. The total amount of the distribution in respect of Class B Certificates:
  $ 2.36  
2. The amount of the distribution in respect of Class B Monthly Interest:
  $ 2.36  
3. The amount of the distribution in respect of Class B Outstanding Monthly Interest:
  $ 0.00  
4. The amount of the distribution in respect of Class B Additional Interest:
  $ 0.00  
5. The amount of the distribution in respect of principal of the Class B Certificates:
  $ 0.00  

- 43 -


 

         
G. Amount of reductions in Class B Invested Amount pursuant to clauses (c), (d), and (e) of the definition of Class B Invested Amount on such Distribution Date.
       
 
       
1. The amount of reductions in Class B Invested Amount pursuant to clauses (c), (d), and (e) of the definition of Class B Invested Amount:
  $ 0.00  
2. The amount of reductions in the Class B Invested Amount, per $1,000 original certificate principal amount:
  $ 0.00  
3. The total amount reimbursed in respect of such reductions in the Class B Invested Amount:
  $ 0.00  
4. The amount reimbursed in respect of such reductions in the Class B Invested Amount, per $1,000 original certificate principal amount:
  $ 0.00  
5. The amount, if any, by which the outstanding principal balance of the Class B Certificates exceeds the Class B Invested Amount after giving effect to all transactions on such Distribution Date:
  $ 0.00  
 
       
H. Information regarding distributions on the Distribution Date to the Collateral Interest Holder.
       
 
       
1. The total amount distributed to the Collateral Interest Holder:
  $ 5,037,469.83  
2. The amount of the distribution in respect of Collateral Minimum Monthly Interest:
  $ 137,067.30  
3. The amount of the distribution in respect of Collateral Additional Interest:
  $ 0.00  
4. The amount distributed to the Collateral Interest Holder in respect of principal on the Collateral Invested Amount:
  $ 0.00  
5. The amount distributed to the Collateral Interest Holder in respect of remaining Excess Spread:
  $ 4,900,402.53  

- 44 -


 

         
I. Amount of reductions in Collateral Invested Amount pursuant to clauses (c), (d), and (e) of the definition of Collateral Invested Amount.
       
 
       
1. The amount of reductions in the Collateral Invested Amount pursuant to clauses (c), (d), and (e) of the definition of Collateral Invested Amount:
  $ 0.00  
2. The total amount reimbursed in respect of such reductions in the Collateral Invested Amount:
  $ 0.00  
 
       
J. Application of Reallocated Investor Finance Charge Collections.
       
 
       
1. Class A Available Funds:
  $ 8,270,986.81  
a. Class A Monthly Interest:
  $ 1,146,429.95  
b. Class A Outstanding Monthly Interest:
  $ 0.00  
c. Class A Additional Interest:
  $ 0.00  
d. Class A Investor Default Amount (treated as Available Principal Collections):
  $ 2,183,630.13  
e. Excess Spread:
  $ 4,940,926.73  
2. Class B Available Funds:
  $ 742,903.01  
a. Class B Monthly Interest:
  $ 106,347.75  
b. Class B Outstanding Monthly Interest:
  $ 0.00  
c. Class B Additional Interest:
  $ 0.00  
d. Excess Spread:
  $ 636,555.26  
3. Collateral Available Funds:
  $ 891,483.61  
a. Excess Spread:
  $ 891,483.61  
4. Total Excess Spread:
  $ 6,468,965.60  

- 45 -


 

         
K. Reallocated Principal Collections.
       
 
       
1. Principal Allocation Percentage:
    78.1923 %
2. Series 2005-1 Allocable Principal Collections:
  $ 182,537,805.87  
3. Principal Allocation Percentage of Series 2005-1 Allocable Principal Collections:
  $ 142,730,557.29  
4. Reallocated Principal Collections Required to fund the Required Amount:
  $ 0.00  
5. Item 3 minus item 4:
  $ 142,730,557.29  
6. Shared Principal Collections from other Series allocated to Series 2005-1:
  $ 0.00  
7. Other amounts treated as Available Principal Collections:
  $ 2,615,125.90  
8. Available Principal Collections (total of items 5., 6. & 7.):
  $ 145,345,683.19  
 
       
L. Application of Available Principal Collections during Revolving Period.
       
 
       
1. Collateral Invested Amount:
  $ 54,000,000.00  
2. Required Collateral Invested Amount:
  $ 54,000,000.00  
3. Excess of Collateral Invested Amount over Required Collateral Invested Amount:
  $ 0.00  
4. Treated as Shared Principal Collections:
  $ 145,345,683.19  
 
       
M. Application of Principal Collections During Accumulation or Amortization Period.
       
 
       
1. Principal Funding Account:
  $ 0.00  
2. Excess of Collateral Invested Amount over Required Collateral Invested Amount:
  $ 0.00  
3. Distribution of Principal:
  $ 0.00  
4. Treated as Shared Principal Collections:
  $ 0.00  

- 46 -


 

         
N. Application of Excess Spread and Excess Finance Charge Collections Allocated to Series 2005-1.
       
 
       
1. Excess Spread:
  $ 6,468,965.60  
2. Excess Finance Charge Collections:
  $ 0.00  
3. Applied to fund Class A Required Amount:
  $ 0.00  
4. Class A Investor Charge-Offs treated as Available Principal Collections:
  $ 0.00  
5. Applied to fund overdue Class B Interest:
  $ 0.00  
6. Applied to fund Class B Required Amount:
  $ 196,134.44  
7. Reduction of Class B Invested Amount treated as Available Principal Collections:
  $ 0.00  
8. Applied to Collateral Minimum Monthly Interest:
  $ 137,067.30  
9. Applied to unpaid Monthly Servicing Fee:
  $ 1,000,000.00  
10. Collateral Default Amount treated as Available Principal Collections:
  $ 235,361.33  
11. Reduction of Collateral Invested Amount treated as Available Principal Collections:
  $ 0.00  
12. Deposited to Reserve Account:
  $ 0.00  
13. Remaining Excess Spread distributed to Collateral Interest Holder:
  $ 4,900,402.53  
 
       
O. Yield and Base Rate.
       
 
       
1. Base Rate:
       
a. Current Monthly Period:
    4.8461 %
b. Prior Monthly Period:
    5.0190 %
c. Second Prior Monthly Period:
    5.1916 %
2. Three Month Average Base Rate:
    5.0189 %
3. Series Adjusted Portfolio Yield:
       
a. Current Monthly Period:
    14.7830 %
b. Prior Monthly Period:
    15.9305 %
c. Second Prior Monthly Period:
    16.0257 %
4. Three Month Average Series Adjusted Portfolio Yield:
    15.5797 %
5. Is the 3 month average Series Adjusted Portfolio Yield more than the 3 month average Base Rate?
  Yes  

- 47 -


 

Series 2005-2 Certificates
                         
            Total Investor        
A. Investor/Transferor Allocations   Series Allocations     Interest     Transferors’ Interest  
Beginning Invested Amount/Transferor Amount
    767,338,722.73       600,000,000.00       167,338,722.73  
Beginning Adjusted Invested Amount
    N/A       600,000,000.00       N/A  
Floating Allocation Percentage
    N/A       78.1923 %     21.8077 %
Principal Allocation Percentage
    N/A       78.1923 %     21.8077 %
Collections of Finance Charge Receivables
    12,853,166.58       10,050,189.99       2,802,976.59  
Collections of Principal Receivables
    182,537,805.87       142,730,557.29       39,807,248.58  
Defaulted Amount
    3,344,478.96       2,615,125.91       729,353.05  
 
                       
Ending Invested Amount / Transferor Amount
    765,536,217.60       600,000,000.00       165,536,217.60  
                                 
B. Monthly Period Funding Requirements   Class A     Class B     Collateral Interest     Total  
Principal Funding Account Balance
    0.00       0.00       0.00       0.00  
Investment Proceeds for Monthly Period
    0.00       0.00       0.00       0.00  
Reserve Account Opening Balance
    0.00       0.00       0.00       0.00  
Reserve Account Deposit
    0.00       0.00       0.00       0.00  
Reserve Draw Amount
    0.00       0.00       0.00       0.00  
Reserve Account Surplus
    0.00       0.00       0.00       0.00  
Reserve Account Closing Balance
    0.00       0.00       0.00       0.00  
 
                               
LIBOR Determination Date
  April 11, 2008     April 11, 2008     April 11, 2008          
Coupon April 15, 2008 - May 14, 2008
    2.8159 %     2.9959 %     3.2059 %        
Monthly Interest Due
    1,175,654.95       112,347.75       144,267.30       1,432,270.00  
Outstanding Monthly Interest Due
    0.00       0.00       0.00       0.00  
Additional Interest Due
    0.00       0.00       0.00       0.00  
Total Interest Due
    1,175,654.95       112,347.75       144,267.30       1,432,270.00  
Investor Default Amount
    2,183,630.13       196,134.44       235,361.33       2,615,125.91  
Investor Monthly Fees Due
    835,000.00       75,000.00       90,000.00       1,000,000.00  
Investor Additional Amounts Due
    0.00       0.00       0.00       0.00  
Total Due
    4,194,285.08       383,482.19       469,628.63       5,047,395.90  
 
                               
Reallocated Investor Finance Charge Collections
                            9,947,798.42  
Interest and Principal Funding Investment Proceeds
                            0.00  
Interest on Reserve Account
                            0.00  
Series Adjusted Portfolio Yield
                            14.8690 %
Base Rate
                            4.9321 %
Excess Spread Percentage
                            9.8008 %
                                 
C. Certificates - Balances and Distributions   Class A     Class B     Collateral Interest     Total  
Beginning Certificates Balance
    501,000,000.00       45,000,000.00       54,000,000.00       600,000,000.00  
Distributions of Interest
    1,175,654.95       112,347.75       144,267.30       1,432,270.00  
Deposits to the Principal Funding Account
    0.00       0.00       0.00       0.00  
Distributions of Principal
    0.00       0.00       0.00       0.00  
Total Distributions
    1,175,654.95       112,347.75       144,267.30       1,432,270.00  
Ending Certificates Balance
    501,000,000.00       45,000,000.00       54,000,000.00       600,000,000.00  

- 48 -


 

         
D. Information regarding distributions on the Distribution Date in respect of the Class A Certificates per $1,000 original certificate principal amount.
       
 
       
1. The total amount of the distribution:
  $ 2.35  
2. The amount of the distribution in respect of Class A Monthly Interest:
  $ 2.35  
3. The amount of the distribution in respect of Class A Outstanding Monthly Interest:
  $ 0.00  
4. The amount of the distribution in respect of Class A Additional Interest:
  $ 0.00  
5. The amount of the distribution in respect of principal of the Class A Certificates:
  $ 0.00  
 
       
E. Class A Investor Charge-Offs and Reimbursement of Class A Investor Charge-Offs.
       
 
       
1. The total amount of Class A Investor Charge-Offs:
  $ 0.00  
2. The amount of Class A Investor Charge- Offs per $1,000 original certificate principal amount:
  $ 0.00  
3. The total amount reimbursed in respect of Class A Investor Charge-Offs:
  $ 0.00  
4. The amount reimbursed in respect of Class A Investor Charge-Offs per $1,000 original certificate principal amount:
  $ 0.00  
5. The amount, if any, by which the outstanding principal balance of the Class A Certificates exceeds the Class A Invested Amount after giving effect to all transactions on such Distribution Date:
  $ 0.00  
 
       
F. Information regarding distributions in respect of the Class B Certificates, per $1,000 original certificate principal amount.
       
 
       
1. The total amount of the distribution in respect of Class B Certificates:
  $ 2.50  
2. The amount of the distribution in respect of Class B Monthly Interest:
  $ 2.50  
3. The amount of the distribution in respect of Class B Outstanding Monthly Interest:
  $ 0.00  
4. The amount of the distribution in respect of Class B Additional Interest:
  $ 0.00  
5. The amount of the distribution in respect of principal of the Class B Certificates:
  $ 0.00  

- 49 -


 

         
G. Amount of reductions in Class B Invested Amount pursuant to clauses (c), (d), and (e) of the definition of Class B Invested Amount on such Distribution Date.
       
 
       
1. The amount of reductions in Class B Invested Amount pursuant to clauses (c), (d), and (e) of the definition of Class B Invested Amount:
  $ 0.00  
2. The amount of reductions in the Class B Invested Amount, per $1,000 original certificate principal amount:
  $ 0.00  
3. The total amount reimbursed in respect of such reductions in the Class B Invested Amount:
  $ 0.00  
4. The amount reimbursed in respect of such reductions in the Class B Invested Amount, per $1,000 original certificate principal amount:
  $ 0.00  
5. The amount, if any, by which the outstanding principal balance of the Class B Certificates exceeds the Class B Invested Amount after giving effect to all transactions on such Distribution Date:
  $ 0.00  
 
       
H. Information regarding distributions on the Distribution Date to the Collateral Interest Holder.
       
 
       
1. The total amount distributed to the Collateral Interest Holder:
  $ 5,044,669.82  
2. The amount of the distribution in respect of Collateral Minimum Monthly Interest:
  $ 144,267.30  
3. The amount of the distribution in respect of Collateral Additional Interest:
  $ 0.00  
4. The amount distributed to the Collateral Interest Holder in respect of principal on the Collateral Invested Amount:
  $ 0.00  
5. The amount distributed to the Collateral Interest Holder in respect of remaining Excess Spread:
  $ 4,900,402.52  

- 50 -


 

         
I. Amount of reductions in Collateral Invested Amount pursuant to clauses (c), (d), and (e) of the definition of Collateral Invested Amount.
       
 
       
1. The amount of reductions in the Collateral Invested Amount pursuant to clauses (c), (d), and (e) of the definition of Collateral Invested Amount:
  $ 0.00  
2. The total amount reimbursed in respect of such reductions in the Collateral Invested Amount:
  $ 0.00  
 
       
J. Application of Reallocated Investor Finance Charge Collections.
       
 
       
1. Class A Available Funds:
  $ 8,306,411.68  
a. Class A Monthly Interest:
  $ 1,175,654.95  
b. Class A Outstanding Monthly Interest:
  $ 0.00  
c. Class A Additional Interest:
  $ 0.00  
d. Class A Investor Default Amount (treated as Available Principal Collections):
  $ 2,183,630.13  
e. Excess Spread:
  $ 4,947,126.60  
2. Class B Available Funds:
  $ 746,084.88  
a. Class B Monthly Interest:
  $ 112,347.75  
b. Class B Outstanding Monthly Interest:
  $ 0.00  
c. Class B Additional Interest:
  $ 0.00  
d. Excess Spread:
  $ 633,737.13  
3. Collateral Available Funds:
  $ 895,301.86  
a. Excess Spread:
  $ 895,301.86  
4. Total Excess Spread:
  $ 6,476,165.59  

- 51 -


 

         
K. Reallocated Principal Collections.
       
 
       
1. Principal Allocation Percentage:
    78.1923 %
2. Series 2005-2 Allocable Principal Collections:
  $ 182,537,805.87  
3. Principal Allocation Percentage of Series 2005-2 Allocable Principal Collections:
  $ 142,730,557.29  
4. Reallocated Principal Collections Required to fund the Required Amount:
  $ 0.00  
5. Item 3 minus item 4:
  $ 142,730,557.29  
6. Shared Principal Collections from other Series allocated to Series 2005-2:
  $ 0.00  
7. Other amounts treated as Available Principal Collections:
  $ 2,615,125.90  
8. Available Principal Collections (total of items 5., 6. & 7.):
  $ 145,345,683.19  
 
       
L. Application of Available Principal Collections during Revolving Period.
       
 
       
1. Collateral Invested Amount:
  $ 54,000,000.00  
2. Required Collateral Invested Amount:
  $ 54,000,000.00  
3. Excess of Collateral Invested Amount over Required Collateral Invested Amount:
  $ 0.00  
4. Treated as Shared Principal Collections:
  $ 145,345,683.19  
 
       
M. Application of Principal Collections During Accumulation or Amortization Period.
       
 
       
1. Principal Funding Account:
  $ 0.00  
2. Excess of Collateral Invested Amount over Required Collateral Invested Amount:
  $ 0.00  
3. Distribution of Principal:
  $ 0.00  
4. Treated as Shared Principal Collections:
  $ 0.00  

- 52 -


 

         
N. Application of Excess Spread and Excess Finance Charge Collections Allocated to Series 2005-2.
       
 
       
1. Excess Spread:
  $ 6,476,165.59  
2. Excess Finance Charge Collections:
  $ 0.00  
3. Applied to fund Class A Required Amount:
  $ 0.00  
4. Class A Investor Charge-Offs treated as Available Principal Collections:
  $ 0.00  
5. Applied to fund overdue Class B Interest:
  $ 0.00  
6. Applied to fund Class B Required Amount:
  $ 196,134.44  
7. Reduction of Class B Invested Amount treated as Available Principal Collections:
  $ 0.00  
8. Applied to Collateral Minimum Monthly Interest:
  $ 144,267.30  
9. Applied to unpaid Monthly Servicing Fee:
  $ 1,000,000.00  
10. Collateral Default Amount treated as Available Principal Collections:
  $ 235,361.33  
11. Reduction of Collateral Invested Amount treated as Available Principal Collections:
  $ 0.00  
12. Deposited to Reserve Account:
  $ 0.00  
13. Remaining Excess Spread distributed to Collateral Interest Holder:
  $ 4,900,402.52  
 
       
O. Yield and Base Rate.
       
 
       
1. Base Rate:
       
a. Current Monthly Period:
    4.9321 %
b. Prior Monthly Period:
    5.1050 %
c. Second Prior Monthly Period:
    5.2776 %
2. Three Month Average Base Rate:
    5.1049 %
3. Series Adjusted Portfolio Yield:
       
a. Current Monthly Period:
    14.8690 %
b. Prior Monthly Period:
    16.0136 %
c. Second Prior Monthly Period:
    16.1146 %
4. Three Month Average Series Adjusted Portfolio Yield:
    15.6658 %
5. Is the 3 month average Series Adjusted Portfolio Yield more than the 3 month average Base Rate?
  Yes  

- 53 -


 

Series 2005-3 Certificates
                         
            Total Investor        
A. Investor/Transferor Allocations   Series Allocations     Interest     Transferors’ Interest  
Beginning Invested Amount/Transferor Amount
    895,228,509.85       700,000,000.00       195,228,509.85  
Beginning Adjusted Invested Amount
    N/A       700,000,000.00       N/A  
Floating Allocation Percentage
    N/A       78.1923 %     21.8077 %
Principal Allocation Percentage
    N/A       78.1923 %     21.8077 %
Collections of Finance Charge Receivables
    14,995,361.01       11,730,687.00       3,270,139.36  
Collections of Principal Receivables
    212,960,773.52       166,518,983.50       46,441,790.02  
Defaulted Amount
    3,901,892.12       3,050,980.23       850,911.89  
 
                       
Ending Invested Amount / Transferor Amount
    893,125,587.20       700,000,000.00       193,125,587.20  
                                 
B. Monthly Period Funding Requirements   Class A     Class B     Collateral Interest     Total  
Principal Funding Account Balance
    0.00       0.00       0.00       0.00  
Investment Proceeds for Monthly Period
    0.00       0.00       0.00       0.00  
Reserve Account Opening Balance
    2,922,500.00       0.00       0.00       2,922,500.00  
Reserve Account Deposit
    0.00       0.00       0.00       0.00  
Reserve Draw Amount
    0.00       0.00       0.00       0.00  
Reserve Account Surplus
    0.00       0.00       0.00       0.00  
Reserve Account Closing Balance
    2,922,500.00       0.00       0.00       2,922,500.00  
 
                               
LIBOR Determination Date
  April 11, 2008     April 11, 2008     April 11, 2008          
Coupon April 15, 2008 - May 14, 2008
    2.7159 %     2.8559 %     2.9659 %        
Monthly Interest Due
    1,322,889.11       124,947.38       155,711.85       1,603,548.34  
Outstanding Monthly Interest Due
    0.00       0.00       0.00       0.00  
Additional Interest Due
    0.00       0.00       0.00       0.00  
Total Interest Due
    1,322,889.11       124,947.38       155,711.85       1,603,548.34  
Investor Default Amount
    2,547,568.49       228,823.52       274,588.22       3,050,980.23  
Investor Monthly Fees Due
    974,166.67       87,500.00       105,000.00       1,166,666.67  
Investor Additional Amounts Due
    0.00       0.00       0.00       0.00  
Total Due
    4,844,624.27       441,270.90       535,300.07       5,821,195.24  
 
                               
Reallocated Investor Finance Charge Collections
                            11,538,331.51  
Interest and Principal Funding Investment Proceeds
                            0.00  
Interest on Reserve Account
                            5,465.35  
Series Adjusted Portfolio Yield
                            14.7613 %
Base Rate
                            4.8149 %
Excess Spread Percentage
                            9.8102 %
                                 
C. Certificates - Balances and Distributions   Class A     Class B     Collateral Interest     Total  
Beginning Certificates Balance
    584,500,000.00       52,500,000.00       63,000,000.00       700,000,000.00  
Distributions of Interest
    1,322,889.11       124,947.38       155,711.85       1,603,548.34  
Deposits to the Principal Funding Account
    0.00       0.00       0.00       0.00  
Distributions of Principal
    0.00       0.00       0.00       0.00  
Total Distributions
    1,322,889.11       124,947.38       155,711.85       1,603,548.34  
Ending Certificates Balance
    584,500,000.00       52,500,000.00       63,000,000.00       700,000,000.00  

- 54 -


 

         
D. Information regarding distributions on the Distribution Date in respect of the Class A Certificates per $1,000 original certificate principal amount.
       
 
       
1. The total amount of the distribution:
  $ 2.26  
2. The amount of the distribution in respect of Class A Monthly Interest:
  $ 2.26  
3. The amount of the distribution in respect of Class A Outstanding Monthly Interest:
  $ 0.00  
4. The amount of the distribution in respect of Class A Additional Interest:
  $ 0.00  
5. The amount of the distribution in respect of principal of the Class A Certificates:
  $ 0.00  
 
       
E. Class A Investor Charge-Offs and Reimbursement of Class A Investor Charge-Offs.
       
 
       
1. The total amount of Class A Investor Charge-Offs:
  $ 0.00  
2. The amount of Class A Investor Charge- Offs per $1,000 original certificate principal amount:
  $ 0.00  
3. The total amount reimbursed in respect of Class A Investor Charge-Offs:
  $ 0.00  
4. The amount reimbursed in respect of Class A Investor Charge-Offs per $1,000 original certificate principal amount:
  $ 0.00  
5. The amount, if any, by which the outstanding principal balance of the Class A Certificates exceeds the Class A Invested Amount after giving effect to all transactions on such Distribution Date:
  $ 0.00  
 
       
F. Information regarding distributions in respect of the Class B Certificates, per $1,000 original certificate principal amount.
       
 
       
1. The total amount of the distribution in respect of Class B Certificates:
  $ 2.38  
2. The amount of the distribution in respect of Class B Monthly Interest:
  $ 2.38  
3. The amount of the distribution in respect of Class B Outstanding Monthly Interest:
  $ 0.00  
4. The amount of the distribution in respect of Class B Additional Interest:
  $ 0.00  
5. The amount of the distribution in respect of principal of the Class B Certificates:
  $ 0.00  

- 55 -


 

         
G. Amount of reductions in Class B Invested Amount pursuant to clauses (c), (d), and (e) of the definition of Class B Invested Amount on such Distribution Date.
       
 
       
1. The amount of reductions in Class B Invested Amount pursuant to clauses (c), (d), and (e) of the definition of Class B Invested Amount:
  $ 0.00  
2. The amount of reductions in the Class B Invested Amount, per $1,000 original certificate principal amount:
  $ 0.00  
3. The total amount reimbursed in respect of such reductions in the Class B Invested Amount:
  $ 0.00  
4. The amount reimbursed in respect of such reductions in the Class B Invested Amount, per $1,000 original certificate principal amount:
  $ 0.00  
5. The amount, if any, by which the outstanding principal balance of the Class B Certificates exceeds the Class B Invested Amount after giving effect to all transactions on such Distribution Date:
  $ 0.00  
 
       
H. Information regarding distributions on the Distribution Date to the Collateral Interest Holder.
       
 
       
1. The total amount distributed to the Collateral Interest Holder:
  $ 5,878,313.47  
2. The amount of the distribution in respect of Collateral Minimum Monthly Interest:
  $ 155,711.85  
3. The amount of the distribution in respect of Collateral Additional Interest:
  $ 0.00  
4. The amount distributed to the Collateral Interest Holder in respect of principal on the Collateral Invested Amount:
  $ 0.00  
5. The amount distributed to the Collateral Interest Holder in respect of remaining Excess Spread:
  $ 5,722,601.62  

- 56 -


 

         
I. Amount of reductions in Collateral Invested Amount pursuant to clauses (c), (d), and (e) of the definition of Collateral Invested Amount.
       
 
       
1. The amount of reductions in the Collateral Invested Amount pursuant to clauses (c), (d), and (e) of the definition of Collateral Invested Amount:
  $ 0.00  
2. The total amount reimbursed in respect of such reductions in the Collateral Invested Amount:
  $ 0.00  
 
       
J. Application of Reallocated Investor Finance Charge Collections.
       
 
       
1. Class A Available Funds:
  $ 9,639,070.38  
a. Class A Monthly Interest:
  $ 1,322,889.11  
b. Class A Outstanding Monthly Interest:
  $ 0.00  
c. Class A Additional Interest:
  $ 0.00  
d. Class A Investor Default Amount (treated as Available Principal Collections):
  $ 2,547,568.49  
e. Excess Spread:
  $ 5,768,612.78  
2. Class B Available Funds:
  $ 865,784.76  
a. Class B Monthly Interest:
  $ 124,947.38  
b. Class B Outstanding Monthly Interest:
  $ 0.00  
c. Class B Additional Interest:
  $ 0.00  
d. Excess Spread:
  $ 740,837.38  
3. Collateral Available Funds:
  $ 1,038,941.72  
a. Excess Spread:
  $ 1,038,941.72  
4. Total Excess Spread:
  $ 7,548,391.88  

- 57 -


 

         
K. Reallocated Principal Collections.
       
 
       
1. Principal Allocation Percentage:
    78.1923 %
2. Series 2005-3 Allocable Principal Collections:
  $ 212,960,773.52  
3. Principal Allocation Percentage of Series 2005-3 Allocable Principal Collections:
  $ 166,518,983.50  
4. Reallocated Principal Collections Required to fund the Required Amount:
  $ 0.00  
5. Item 3 minus item 4:
  $ 166,518,983.50  
6. Shared Principal Collections from other Series allocated to Series 2005-3:
  $ 0.00  
7. Other amounts treated as Available Principal Collections:
  $ 3,050,980.23  
8. Available Principal Collections (total of items 5., 6. & 7.):
  $ 169,569,963.73  
 
       
L. Application of Available Principal Collections during Revolving Period.
       
 
       
1. Collateral Invested Amount:
  $ 63,000,000.00  
2. Required Collateral Invested Amount:
  $ 63,000,000.00  
3. Excess of Collateral Invested Amount over Required Collateral Invested Amount:
  $ 0.00  
4. Treated as Shared Principal Collections:
  $ 169,569,963.73  
 
       
M. Application of Principal Collections During Accumulation or Amortization Period.
       
 
       
1. Principal Funding Account:
  $ 0.00  
2. Excess of Collateral Invested Amount over Required Collateral Invested Amount:
  $ 0.00  
3. Distribution of Principal:
  $ 0.00  
4. Treated as Shared Principal Collections:
  $ 0.00  

- 58 -


 

         
N. Application of Excess Spread and Excess Finance Charge Collections Allocated to Series 2005-3.
       
 
       
1. Excess Spread:
  $ 7,548,391.88  
2. Excess Finance Charge Collections:
  $ 0.00  
3. Applied to fund Class A Required Amount:
  $ 0.00  
4. Class A Investor Charge-Offs treated as Available Principal Collections:
  $ 0.00  
5. Applied to fund overdue Class B Interest:
  $ 0.00  
6. Applied to fund Class B Required Amount:
  $ 228,823.52  
7. Reduction of Class B Invested Amount treated as Available Principal Collections:
  $ 0.00  
8. Applied to Collateral Minimum Monthly Interest:
  $ 155,711.85  
9. Applied to unpaid Monthly Servicing Fee:
  $ 1,166,666.67  
10. Collateral Default Amount treated as Available Principal Collections:
  $ 274,588.22  
11. Reduction of Collateral Invested Amount treated as Available Principal Collections:
  $ 0.00  
12. Deposited to Reserve Account:
  $ 0.00  
13. Remaining Excess Spread distributed to Collateral Interest Holder:
  $ 5,722,601.62  
 
       
O. Yield and Base Rate.
       
 
       
1. Base Rate:
       
a. Current Monthly Period:
    4.8149 %
b. Prior Monthly Period:
    4.9878 %
c. Second Prior Monthly Period:
    5.1604 %
2. Three Month Average Base Rate:
    4.9877 %
3. Series Adjusted Portfolio Yield:
       
a. Current Monthly Period:
    14.7613 %
b. Prior Monthly Period:
    15.9095 %
c. Second Prior Monthly Period:
    15.9935 %
4. Three Month Average Series Adjusted Portfolio Yield:
    15.5548 %
5. Is the 3 month average Series Adjusted Portfolio Yield more than the 3 month average Base Rate?
  Yes  

- 59 -


 

Series 2005-4 Certificates
                         
            Total Investor        
A. Investor/Transferor Allocations   Series Allocations     Interest     Transferors’ Interest  
Beginning Invested Amount/Transferor Amount
    639,448,935.60       500,000,000.00       139,448,935.60  
Beginning Adjusted Invested Amount
    N/A       500,000,000.00       N/A  
Floating Allocation Percentage
    N/A       78.1923 %     21.8077 %
Principal Allocation Percentage
    N/A       78.1923 %     21.8077 %
Collections of Finance Charge Receivables
    10,710,972.15       8,375,158.32       2,335,813.83  
Collections of Principal Receivables
    152,114,838.23       118,942,131.08       33,172,707.15  
Defaulted Amount
    2,787,065.80       2,179,271.59       607,794.21  
 
                       
Ending Invested Amount / Transferor Amount
    637,946,848.00       500,000,000.00       137,946,848.00  
                                 
B. Monthly Period Funding Requirements   Class A     Class B     Collateral Interest     Total  
Principal Funding Account Balance
    0.00       0.00       0.00       0.00  
Investment Proceeds for Monthly Period
    0.00       0.00       0.00       0.00  
Reserve Account Opening Balance
    0.00       0.00       0.00       0.00  
Reserve Account Deposit
    0.00       0.00       0.00       0.00  
Reserve Draw Amount
    0.00       0.00       0.00       0.00  
Reserve Account Surplus
    0.00       0.00       0.00       0.00  
Reserve Account Closing Balance
    0.00       0.00       0.00       0.00  
 
                               
LIBOR Determination Date
  April 11, 2008     April 11, 2008     April 11, 2008          
Coupon April 15, 2008 - May 14, 2008
    2.7859 %     2.9659 %     3.1359 %        
Monthly Interest Due
    969,274.96       92,685.63       117,597.75       1,179,558.34  
Outstanding Monthly Interest Due
    0.00       0.00       0.00       0.00  
Additional Interest Due
    0.00       0.00       0.00       0.00  
Total Interest Due
    969,274.96       92,685.63       117,597.75       1,179,558.34  
Investor Default Amount
    1,819,691.78       163,445.37       196,134.44       2,179,271.59  
Investor Monthly Fees Due
    695,833.33       62,500.00       75,000.00       833,333.33  
Investor Additional Amounts Due
    0.00       0.00       0.00       0.00  
Total Due
    3,484,800.07       318,631.00       388,732.19       4,192,163.26  
 
                               
Reallocated Investor Finance Charge Collections
                            8,275,832.02  
Interest and Principal Funding Investment Proceeds
                            0.00  
Interest on Reserve Account
                            0.00  
Series Adjusted Portfolio Yield
                            14.8350 %
Base Rate
                            4.8980 %
Excess Spread Percentage
                            9.8008 %
                                 
C. Certificates - Balances and Distributions   Class A     Class B     Collateral Interest     Total  
Beginning Certificates Balance
    417,500,000.00       37,500,000.00       45,000,000.00       500,000,000.00  
Distributions of Interest
    969,274.96       92,685.63       117,597.75       1,179,558.34  
Deposits to the Principal Funding Account
    0.00       0.00       0.00       0.00  
Distributions of Principal
    0.00       0.00       0.00       0.00  
Total Distributions
    969,274.96       92,685.63       117,597.75       1,179,558.34  
Ending Certificates Balance
    417,500,000.00       37,500,000.00       45,000,000.00       500,000,000.00  

- 60 -


 

         
D. Information regarding distributions on the Distribution Date in respect of the Class A Certificates per $1,000 original certificate principal amount.
       
 
       
1. The total amount of the distribution:
  $ 2.32  
2. The amount of the distribution in respect of Class A Monthly Interest:
  $ 2.32  
3. The amount of the distribution in respect of Class A Outstanding Monthly Interest:
  $ 0.00  
4. The amount of the distribution in respect of Class A Additional Interest:
  $ 0.00  
5. The amount of the distribution in respect of principal of the Class A Certificates:
  $ 0.00  
 
       
E. Class A Investor Charge-Offs and Reimbursement of Class A Investor Charge-Offs.
       
 
       
1. The total amount of Class A Investor Charge-Offs:
  $ 0.00  
2. The amount of Class A Investor Charge- Offs per $1,000 original certificate principal amount:
  $ 0.00  
3. The total amount reimbursed in respect of Class A Investor Charge-Offs:
  $ 0.00  
4. The amount reimbursed in respect of Class A Investor Charge-Offs per $1,000 original certificate principal amount:
  $ 0.00  
5. The amount, if any, by which the outstanding principal balance of the Class A Certificates exceeds the Class A Invested Amount after giving effect to all transactions on such Distribution Date:
  $ 0.00  
 
       
F. Information regarding distributions in respect of the Class B Certificates, per $1,000 original certificate principal amount.
       
 
       
1. The total amount of the distribution in respect of Class B Certificates:
  $ 2.47  
2. The amount of the distribution in respect of Class B Monthly Interest:
  $ 2.47  
3. The amount of the distribution in respect of Class B Outstanding Monthly Interest:
  $ 0.00  
4. The amount of the distribution in respect of Class B Additional Interest:
  $ 0.00  
5. The amount of the distribution in respect of principal of the Class B Certificates:
  $ 0.00  

- 61 -


 

         
G. Amount of reductions in Class B Invested Amount pursuant to clauses (c), (d), and (e) of the definition of Class B Invested Amount on such Distribution Date.
       
 
       
1. The amount of reductions in Class B Invested Amount pursuant to clauses (c), (d), and (e) of the definition of Class B Invested Amount:
  $ 0.00  
2. The amount of reductions in the Class B Invested Amount, per $1,000 original certificate principal amount:
  $ 0.00  
3. The total amount reimbursed in respect of such reductions in the Class B Invested Amount:
  $ 0.00  
4. The amount reimbursed in respect of such reductions in the Class B Invested Amount, per $1,000 original certificate principal amount:
  $ 0.00  
5. The amount, if any, by which the outstanding principal balance of the Class B Certificates exceeds the Class B Invested Amount after giving effect to all transactions on such Distribution Date:
  $ 0.00  
 
       
H. Information regarding distributions on the Distribution Date to the Collateral Interest Holder.
       
 
       
1. The total amount distributed to the Collateral Interest Holder:
  $ 4,201,266.51  
2. The amount of the distribution in respect of Collateral Minimum Monthly Interest:
  $ 117,597.75  
3. The amount of the distribution in respect of Collateral Additional Interest:
  $ 0.00  
4. The amount distributed to the Collateral Interest Holder in respect of principal on the Collateral Invested Amount:
  $ 0.00  
5. The amount distributed to the Collateral Interest Holder in respect of remaining Excess Spread:
  $ 4,083,668.76  

- 62 -


 

         
I. Amount of reductions in Collateral Invested Amount pursuant to clauses (c), (d), and (e) of the definition of Collateral Invested Amount.
       
 
       
1. The amount of reductions in the Collateral Invested Amount pursuant to clauses (c), (d), and (e) of the definition of Collateral Invested Amount:
  $ 0.00  
2. The total amount reimbursed in respect of such reductions in the Collateral Invested Amount:
  $ 0.00  
 
       
J. Application of Reallocated Investor Finance Charge Collections.
       
 
       
1. Class A Available Funds:
  $ 6,910,319.74  
a. Class A Monthly Interest:
  $ 969,274.96  
b. Class A Outstanding Monthly Interest:
  $ 0.00  
c. Class A Additional Interest:
  $ 0.00  
d. Class A Investor Default Amount (treated as Available Principal Collections):
  $ 1,819,691.78  
e. Excess Spread:
  $ 4,121,353.00  
2. Class B Available Funds:
  $ 620,687.40  
a. Class B Monthly Interest:
  $ 92,685.63  
b. Class B Outstanding Monthly Interest:
  $ 0.00  
c. Class B Additional Interest:
  $ 0.00  
d. Excess Spread:
  $ 528,001.77  
3. Collateral Available Funds:
  $ 744,824.88  
a. Excess Spread:
  $ 744,824.88  
4. Total Excess Spread:
  $ 5,394,179.65  

- 63 -


 

         
K. Reallocated Principal Collections.
       
 
       
1. Principal Allocation Percentage:
    78.1923 %
2. Series 2005-4 Allocable Principal Collections:
  $ 152,114,838.23  
3. Principal Allocation Percentage of Series 2005-4 Allocable Principal Collections:
  $ 118,942,131.08  
4. Reallocated Principal Collections Required to fund the Required Amount:
  $ 0.00  
5. Item 3 minus item 4:
  $ 118,942,131.08  
6. Shared Principal Collections from other Series allocated to Series 2005-4:
  $ 0.00  
7. Other amounts treated as Available Principal Collections:
  $ 2,179,271.59  
8. Available Principal Collections (total of items 5., 6. & 7.):
  $ 121,121,402.67  
 
       
L. Application of Available Principal Collections during Revolving Period.
       
 
       
1. Collateral Invested Amount:
  $ 45,000,000.00  
2. Required Collateral Invested Amount:
  $ 45,000,000.00  
3. Excess of Collateral Invested Amount over Required Collateral Invested Amount:
  $ 0.00  
4. Treated as Shared Principal Collections:
  $ 121,121,402.67  
 
       
M. Application of Principal Collections During Accumulation or Amortization Period.
       
 
       
1. Principal Funding Account:
  $ 0.00  
2. Excess of Collateral Invested Amount over Required Collateral Invested Amount:
  $ 0.00  
3. Distribution of Principal:
  $ 0.00  
4. Treated as Shared Principal Collections:
  $ 0.00  

- 64 -


 

         
N. Application of Excess Spread and Excess Finance Charge Collections Allocated to Series 2005-4.
       
 
       
1. Excess Spread:
  $ 5,394,179.65  
2. Excess Finance Charge Collections:
  $ 0.00  
3. Applied to fund Class A Required Amount:
  $ 0.00  
4. Class A Investor Charge-Offs treated as Available Principal Collections:
  $ 0.00  
5. Applied to fund overdue Class B Interest:
  $ 0.00  
6. Applied to fund Class B Required Amount:
  $ 163,445.37  
7. Reduction of Class B Invested Amount treated as Available Principal Collections:
  $ 0.00  
8. Applied to Collateral Minimum Monthly Interest:
  $ 117,597.75  
9. Applied to unpaid Monthly Servicing Fee:
  $ 833,333.33  
10. Collateral Default Amount treated as Available Principal Collections:
  $ 196,134.44  
11. Reduction of Collateral Invested Amount treated as Available Principal Collections:
  $ 0.00  
12. Deposited to Reserve Account:
  $ 0.00  
13. Remaining Excess Spread distributed to Collateral Interest Holder:
  $ 4,083,668.76  
 
       
O. Yield and Base Rate.
       
 
       
1. Base Rate:
       
a. Current Monthly Period:
    4.8980 %
b. Prior Monthly Period:
    5.0709 %
c. Second Prior Monthly Period:
    5.2436 %
2. Three Month Average Base Rate:
    5.0708 %
3. Series Adjusted Portfolio Yield:
       
a. Current Monthly Period:
    14.8350 %
b. Prior Monthly Period:
    15.9807 %
c. Second Prior Monthly Period:
    16.0794 %
4. Three Month Average Series Adjusted Portfolio Yield:
    15.6317 %
5. Is the 3 month average Series Adjusted Portfolio Yield more than the 3 month average Base Rate?
  Yes  

- 65 -


 

Series 2005-5 Certificates
                         
            Total Investor        
A. Investor/Transferor Allocations   Series Allocations     Interest     Transferors’ Interest  
Beginning Invested Amount/Transferor Amount
    1,406,787,658.33       1,100,000,000.00       306,787,658.33  
Beginning Adjusted Invested Amount
    N/A       1,100,000,000.00       N/A  
Floating Allocation Percentage
    N/A       78.1923 %     21.8077 %
Principal Allocation Percentage
    N/A       78.1923 %     21.8077 %
Collections of Finance Charge Receivables
    23,564,138.73       18,425,348.31       5,138,790.42  
Collections of Principal Receivables
    334,652,644.10       261,672,688.36       72,979,955.74  
Defaulted Amount
    6,131,544.76       4,794,397.50       1,337,147.26  
 
                       
Ending Invested Amount / Transferor Amount
    1,403,483,065.60       1,100,000,000.00       303,483,065.60  
                                 
B. Monthly Period Funding Requirements   Class A     Class B     Collateral Interest     Total  
Principal Funding Account Balance
    0.00       0.00       0.00       0.00  
Investment Proceeds for Monthly Period
    0.00       0.00       0.00       0.00  
Reserve Account Opening Balance
    0.00       0.00       0.00       0.00  
Reserve Account Deposit
    0.00       0.00       0.00       0.00  
Reserve Draw Amount
    0.00       0.00       0.00       0.00  
Reserve Account Surplus
    0.00       0.00       0.00       0.00  
Reserve Account Closing Balance
    0.00       0.00       0.00       0.00  
 
                               
LIBOR Determination Date
  April 11, 2008     April 11, 2008     April 11, 2008          
Coupon April 15, 2008 - May 14, 2008
    2.7559 %     2.8959 %     3.0359 %        
Monthly Interest Due
    2,109,442.41       199,095.88       250,465.05       2,559,003.34  
Outstanding Monthly Interest Due
    0.00       0.00       0.00       0.00  
Additional Interest Due
    0.00       0.00       0.00       0.00  
Total Interest Due
    2,109,442.41       199,095.88       250,465.05       2,559,003.34  
Investor Default Amount
    4,003,321.91       359,579.81       431,495.78       4,794,397.50  
Investor Monthly Fees Due
    1,530,833.33       137,500.00       165,000.00       1,833,333.33  
Investor Additional Amounts Due
    0.00       0.00       0.00       0.00  
Total Due
    7,643,597.65       696,175.69       846,960.83       9,186,734.17  
 
                               
Reallocated Investor Finance Charge Collections
                            18,170,805.45  
Interest and Principal Funding Investment Proceeds
                            0.00  
Interest on Reserve Account
                            0.00  
Series Adjusted Portfolio Yield
                            14.7951 %
Base Rate
                            4.8582 %
Excess Spread Percentage
                            9.8008 %
                                 
C. Certificates - Balances and Distributions   Class A     Class B     Collateral Interest     Total  
Beginning Certificates Balance
    918,500,000.00       82,500,000.00       99,000,000.00       1,100,000,000.00  
Distributions of Interest
    2,109,442.41       199,095.88       250,465.05       2,559,003.34  
Deposits to the Principal Funding Account
    0.00       0.00       0.00       0.00  
Distributions of Principal
    0.00       0.00       0.00       0.00  
Total Distributions
    2,109,442.41       199,095.88       250,465.05       2,559,003.34  
Ending Certificates Balance
    918,500,000.00       82,500,000.00       99,000,000.00       1,100,000,000.00  

- 66 -


 

         
D. Information regarding distributions on the Distribution Date in respect of the Class A Certificates per $1,000 original certificate principal amount.
       
 
       
1. The total amount of the distribution:
  $ 2.30  
2. The amount of the distribution in respect of Class A Monthly Interest:
  $ 2.30  
3. The amount of the distribution in respect of Class A Outstanding Monthly Interest:
  $ 0.00  
4. The amount of the distribution in respect of Class A Additional Interest:
  $ 0.00  
5. The amount of the distribution in respect of principal of the Class A Certificates:
  $ 0.00  
 
       
E. Class A Investor Charge-Offs and Reimbursement of Class A Investor Charge-Offs.
       
 
       
1. The total amount of Class A Investor Charge-Offs:
  $ 0.00  
2. The amount of Class A Investor Charge- Offs per $1,000 original certificate principal amount:
  $ 0.00  
3. The total amount reimbursed in respect of Class A Investor Charge-Offs:
  $ 0.00  
4. The amount reimbursed in respect of Class A Investor Charge-Offs per $1,000 original certificate principal amount:
  $ 0.00  
5. The amount, if any, by which the outstanding principal balance of the Class A Certificates exceeds the Class A Invested Amount after giving effect to all transactions on such Distribution Date:
  $ 0.00  
 
       
F. Information regarding distributions in respect of the Class B Certificates, per $1,000 original certificate principal amount.
       
 
       
1. The total amount of the distribution in respect of Class B Certificates:
  $ 2.41  
2. The amount of the distribution in respect of Class B Monthly Interest:
  $ 2.41  
3. The amount of the distribution in respect of Class B Outstanding Monthly Interest:
  $ 0.00  
4. The amount of the distribution in respect of Class B Additional Interest:
  $ 0.00  
5. The amount of the distribution in respect of principal of the Class B Certificates:
  $ 0.00  

- 67 -


 

         
G. Amount of reductions in Class B Invested Amount pursuant to clauses (c), (d), and (e) of the definition of Class B Invested Amount on such Distribution Date.
       
 
       
1. The amount of reductions in Class B Invested Amount pursuant to clauses (c), (d), and (e) of the definition of Class B Invested Amount:
  $ 0.00  
2. The amount of reductions in the Class B Invested Amount, per $1,000 original certificate principal amount:
  $ 0.00  
3. The total amount reimbursed in respect of such reductions in the Class B Invested Amount:
  $ 0.00  
4. The amount reimbursed in respect of such reductions in the Class B Invested Amount, per $1,000 original certificate principal amount:
  $ 0.00  
5. The amount, if any, by which the outstanding principal balance of the Class B Certificates exceeds the Class B Invested Amount after giving effect to all transactions on such Distribution Date:
  $ 0.00  
 
       
H. Information regarding distributions on the Distribution Date to the Collateral Interest Holder.
       
 
       
1. The total amount distributed to the Collateral Interest Holder:
  $ 9,234,536.33  
2. The amount of the distribution in respect of Collateral Minimum Monthly Interest:
  $ 250,465.05  
3. The amount of the distribution in respect of Collateral Additional Interest:
  $ 0.00  
4. The amount distributed to the Collateral Interest Holder in respect of principal on the Collateral Invested Amount:
  $ 0.00  
5. The amount distributed to the Collateral Interest Holder in respect of remaining Excess Spread:
  $ 8,984,071.28  

- 68 -


 

         
I. Amount of reductions in Collateral Invested Amount pursuant to clauses (c), (d), and (e) of the definition of Collateral Invested Amount.
       
 
       
1. The amount of reductions in the Collateral Invested Amount pursuant to clauses (c), (d), and (e) of the definition of Collateral Invested Amount:
  $ 0.00  
2. The total amount reimbursed in respect of such reductions in the Collateral Invested Amount:
  $ 0.00  
 
       
J. Application of Reallocated Investor Finance Charge Collections.
       
 
       
1. Class A Available Funds:
  $ 15,172,622.55  
a. Class A Monthly Interest:
  $ 2,109,442.41  
b. Class A Outstanding Monthly Interest:
  $ 0.00  
c. Class A Additional Interest:
  $ 0.00  
d. Class A Investor Default Amount (treated as Available Principal Collections):
  $ 4,003,321.91  
e. Excess Spread:
  $ 9,059,858.23  
2. Class B Available Funds:
  $ 1,362,810.41  
a. Class B Monthly Interest:
  $ 199,095.88  
b. Class B Outstanding Monthly Interest:
  $ 0.00  
c. Class B Additional Interest:
  $ 0.00  
d. Excess Spread:
  $ 1,163,714.53  
3. Collateral Available Funds:
  $ 1,635,372.49  
a. Excess Spread:
  $ 1,635,372.49  
4. Total Excess Spread:
  $ 11,858,945.25  

- 69 -


 

         
K. Reallocated Principal Collections.
       
 
       
1. Principal Allocation Percentage:
    78.1923 %
2. Series 2005-5 Allocable Principal Collections:
  $ 334,652,644.10  
3. Principal Allocation Percentage of Series 2005-5 Allocable Principal Collections:
  $ 261,672,688.36  
4. Reallocated Principal Collections Required to fund the Required Amount:
  $ 0.00  
5. Item 3 minus item 4:
  $ 261,672,688.36  
6. Shared Principal Collections from other Series allocated to Series 2005-5:
  $ 0.00  
7. Other amounts treated as Available Principal Collections:
  $ 4,794,397.50  
8. Available Principal Collections (total of items 5., 6. & 7.):
  $ 266,467,085.86  
 
       
L. Application of Available Principal Collections during Revolving Period.
       
 
       
1. Collateral Invested Amount:
  $ 99,000,000.00  
2. Required Collateral Invested Amount:
  $ 99,000,000.00  
3. Excess of Collateral Invested Amount over Required Collateral Invested Amount:
  $ 0.00  
4. Treated as Shared Principal Collections:
  $ 266,467,085.86  
 
       
M. Application of Principal Collections During Accumulation or Amortization Period.
       
 
       
1. Principal Funding Account:
  $ 0.00  
2. Excess of Collateral Invested Amount over Required Collateral Invested Amount:
  $ 0.00  
3. Distribution of Principal:
  $ 0.00  
4. Treated as Shared Principal Collections:
  $ 0.00  

- 70 -


 

         
N. Application of Excess Spread and Excess Finance Charge Collections Allocated to Series 2005-5.
       
 
       
1. Excess Spread:
  $ 11,858,945.25  
2. Excess Finance Charge Collections:
  $ 0.00  
3. Applied to fund Class A Required Amount:
  $ 0.00  
4. Class A Investor Charge-Offs treated as Available Principal Collections:
  $ 0.00  
5. Applied to fund overdue Class B Interest:
  $ 0.00  
6. Applied to fund Class B Required Amount:
  $ 359,579.81  
7. Reduction of Class B Invested Amount treated as Available Principal Collections:
  $ 0.00  
8. Applied to Collateral Minimum Monthly Interest:
  $ 250,465.05  
9. Applied to unpaid Monthly Servicing Fee:
  $ 1,833,333.33  
10. Collateral Default Amount treated as Available Principal Collections:
  $ 431,495.78  
11. Reduction of Collateral Invested Amount treated as Available Principal Collections:
  $ 0.00  
12. Deposited to Reserve Account:
  $ 0.00  
13. Remaining Excess Spread distributed to Collateral Interest Holder:
  $ 8,984,071.28  
 
       
O. Yield and Base Rate.
       
 
       
1. Base Rate:
       
a. Current Monthly Period:
    4.8582 %
b. Prior Monthly Period:
    5.0311 %
c. Second Prior Monthly Period:
    5.2037 %
2. Three Month Average Base Rate:
    5.0310 %
3. Series Adjusted Portfolio Yield:
       
a. Current Monthly Period:
    14.7951 %
b. Prior Monthly Period:
    15.9422 %
c. Second Prior Monthly Period:
    16.0382 %
4. Three Month Average Series Adjusted Portfolio Yield:
    15.5918 %
5. Is the 3 month average Series Adjusted Portfolio Yield more than the 3 month average Base Rate?
  Yes  

- 71 -


 

Series 2005-6 Certificates
                         
            Total Investor        
A. Investor/Transferor Allocations   Series Allocations     Interest     Transferors’ Interest  
Beginning Invested Amount/Transferor Amount
    895,228,509.85       700,000,000.00       195,228,509.85  
Beginning Adjusted Invested Amount
    N/A       700,000,000.00       N/A  
Floating Allocation Percentage
    N/A       78.1923 %     21.8077 %
Principal Allocation Percentage
    N/A       78.1923 %     21.8077 %
Collections of Finance Charge Receivables
    14,995,361.01       11,725,221.65       3,270,139.36  
Collections of Principal Receivables
    212,960,773.52       166,518,983.50       46,441,790.02  
Defaulted Amount
    3,901,892.12       3,050,980.23       850,911.89  
 
                       
Ending Invested Amount / Transferor Amount
    893,125,587.20       700,000,000.00       193,125,587.20  
                                 
B. Monthly Period Funding Requirements   Class A     Class B     Collateral Interest     Total  
Principal Funding Account Balance
    0.00       0.00       0.00       0.00  
Investment Proceeds for Monthly Period
    0.00       0.00       0.00       0.00  
Reserve Account Opening Balance
    0.00       0.00       0.00       0.00  
Reserve Account Deposit
    2,922,500.00       0.00       0.00       2,922,500.00  
Reserve Draw Amount
    0.00       0.00       0.00       0.00  
Reserve Account Surplus
    0.00       0.00       0.00       0.00  
Reserve Account Closing Balance
    2,922,500.00       0.00       0.00       2,922,500.00  
 
                               
LIBOR Determination Date
  April 11, 2008     April 11, 2008     April 11, 2008          
Coupon April 15, 2008 - May 14, 2008
    2.7159 %     2.8559 %     2.9659 %        
Monthly Interest Due
    1,322,889.11       124,947.38       155,711.85       1,603,548.34  
Outstanding Monthly Interest Due
    0.00       0.00       0.00       0.00  
Additional Interest Due
    0.00       0.00       0.00       0.00  
Total Interest Due
    1,322,889.11       124,947.38       155,711.85       1,603,548.34  
Investor Default Amount
    2,547,568.49       228,823.52       274,588.22       3,050,980.23  
Investor Monthly Fees Due
    974,166.67       87,500.00       105,000.00       1,166,666.67  
Investor Additional Amounts Due
    0.00       0.00       0.00       0.00  
Total Due
    4,844,624.27       441,270.90       535,300.07       5,821,195.24  
 
                               
Reallocated Investor Finance Charge Collections
                            11,538,331.51  
Interest and Principal Funding Investment Proceeds
                            0.00  
Interest on Reserve Account
                            0.00  
Series Adjusted Portfolio Yield
                            14.7518 %
Base Rate
                            4.8149 %
Excess Spread Percentage
                            9.8008 %
                                 
C. Certificates - Balances and Distributions   Class A     Class B     Collateral Interest     Total  
Beginning Certificates Balance
    584,500,000.00       52,500,000.00       63,000,000.00       700,000,000.00  
Distributions of Interest
    1,322,889.11       124,947.38       155,711.85       1,603,548.34  
Deposits to the Principal Funding Account
    0.00       0.00       0.00       0.00  
Distributions of Principal
    0.00       0.00       0.00       0.00  
Total Distributions
    1,322,889.11       124,947.38       155,711.85       1,603,548.34  
Ending Certificates Balance
    584,500,000.00       52,500,000.00       63,000,000.00       700,000,000.00  

- 72 -


 

         
D. Information regarding distributions on the Distribution Date in respect of the Class A Certificates per $1,000 original certificate principal amount.
       
 
       
1. The total amount of the distribution:
  $ 2.26  
2. The amount of the distribution in respect of Class A Monthly Interest:
  $ 2.26  
3. The amount of the distribution in respect of Class A Outstanding Monthly Interest:
  $ 0.00  
4. The amount of the distribution in respect of Class A Additional Interest:
  $ 0.00  
5. The amount of the distribution in respect of principal of the Class A Certificates:
  $ 0.00  
 
       
E. Class A Investor Charge-Offs and Reimbursement of Class A Investor Charge-Offs.
       
 
       
1. The total amount of Class A Investor Charge-Offs:
  $ 0.00  
2. The amount of Class A Investor Charge- Offs per $1,000 original certificate principal amount:
  $ 0.00  
3. The total amount reimbursed in respect of Class A Investor Charge-Offs:
  $ 0.00  
4. The amount reimbursed in respect of Class A Investor Charge-Offs per $1,000 original certificate principal amount:
  $ 0.00  
5. The amount, if any, by which the outstanding principal balance of the Class A Certificates exceeds the Class A Invested Amount after giving effect to all transactions on such Distribution Date:
  $ 0.00  
 
       
F. Information regarding distributions in respect of the Class B Certificates, per $1,000 original certificate principal amount.
       
 
       
1. The total amount of the distribution in respect of Class B Certificates:
  $ 2.38  
2. The amount of the distribution in respect of Class B Monthly Interest:
  $ 2.38  
3. The amount of the distribution in respect of Class B Outstanding Monthly Interest:
  $ 0.00  
4. The amount of the distribution in respect of Class B Additional Interest:
  $ 0.00  
5. The amount of the distribution in respect of principal of the Class B Certificates:
  $ 0.00  

- 73 -


 

         
G. Amount of reductions in Class B Invested Amount pursuant to clauses (c), (d), and (e) of the definition of Class B Invested Amount on such Distribution Date.
       
 
       
1. The amount of reductions in Class B Invested Amount pursuant to clauses (c), (d), and (e) of the definition of Class B Invested Amount:
  $ 0.00  
2. The amount of reductions in the Class B Invested Amount, per $1,000 original certificate principal amount:
  $ 0.00  
3. The total amount reimbursed in respect of such reductions in the Class B Invested Amount:
  $ 0.00  
4. The amount reimbursed in respect of such reductions in the Class B Invested Amount, per $1,000 original certificate principal amount:
  $ 0.00  
5. The amount, if any, by which the outstanding principal balance of the Class B Certificates exceeds the Class B Invested Amount after giving effect to all transactions on such Distribution Date:
  $ 0.00  
 
       
H. Information regarding distributions on the Distribution Date to the Collateral Interest Holder.
       
 
       
1. The total amount distributed to the Collateral Interest Holder:
  $ 2,950,348.12  
2. The amount of the distribution in respect of Collateral Minimum Monthly Interest:
  $ 155,711.85  
3. The amount of the distribution in respect of Collateral Additional Interest:
  $ 0.00  
4. The amount distributed to the Collateral Interest Holder in respect of principal on the Collateral Invested Amount:
  $ 0.00  
5. The amount distributed to the Collateral Interest Holder in respect of remaining Excess Spread:
  $ 2,794,636.27  

- 74 -


 

         
I. Amount of reductions in Collateral Invested Amount pursuant to clauses (c), (d), and (e) of the definition of Collateral Invested Amount.
       
 
       
1. The amount of reductions in the Collateral Invested Amount pursuant to clauses (c), (d), and (e) of the definition of Collateral Invested Amount:
  $ 0.00  
2. The total amount reimbursed in respect of such reductions in the Collateral Invested Amount:
  $ 0.00  
 
       
J. Application of Reallocated Investor Finance Charge Collections.
       
 
       
1. Class A Available Funds:
  $ 9,634,506.81  
a. Class A Monthly Interest:
  $ 1,322,889.11  
b. Class A Outstanding Monthly Interest:
  $ 0.00  
c. Class A Additional Interest:
  $ 0.00  
d. Class A Investor Default Amount (treated as Available Principal Collections):
  $ 2,547,568.49  
e. Excess Spread:
  $ 5,764,049.21  
2. Class B Available Funds:
  $ 865,374.86  
a. Class B Monthly Interest:
  $ 124,947.38  
b. Class B Outstanding Monthly Interest:
  $ 0.00  
c. Class B Additional Interest:
  $ 0.00  
d. Excess Spread:
  $ 740,427.48  
3. Collateral Available Funds:
  $ 1,038,449.84  
a. Excess Spread:
  $ 1,038,449.84  
4. Total Excess Spread:
  $ 7,542,926.53  

- 75 -


 

         
K. Reallocated Principal Collections.
       
 
       
1. Principal Allocation Percentage:
    78.1923 %
2. Series 2005-6 Allocable Principal Collections:
  $ 212,960,773.52  
3. Principal Allocation Percentage of Series 2005-6 Allocable Principal Collections:
  $ 166,518,983.50  
4. Reallocated Principal Collections Required to fund the Required Amount:
  $ 0.00  
5. Item 3 minus item 4:
  $ 166,518,983.50  
6. Shared Principal Collections from other Series allocated to Series 2005-6:
  $ 0.00  
7. Other amounts treated as Available Principal Collections:
  $ 3,050,980.23  
8. Available Principal Collections (total of items 5., 6. & 7.):
  $ 169,569,963.73  
 
       
L. Application of Available Principal Collections during Revolving Period.
       
 
       
1. Collateral Invested Amount:
  $ 63,000,000.00  
2. Required Collateral Invested Amount:
  $ 63,000,000.00  
3. Excess of Collateral Invested Amount over Required Collateral Invested Amount:
  $ 0.00  
4. Treated as Shared Principal Collections:
  $ 169,569,963.73  
 
       
M. Application of Principal Collections During Accumulation or Amortization Period.
       
 
       
1. Principal Funding Account:
  $ 0.00  
2. Excess of Collateral Invested Amount over Required Collateral Invested Amount:
  $ 0.00  
3. Distribution of Principal:
  $ 0.00  
4. Treated as Shared Principal Collections:
  $ 0.00  

- 76 -


 

         
N. Application of Excess Spread and Excess Finance Charge Collections Allocated to Series 2005-6.
       
 
       
1. Excess Spread:
  $ 7,542,926.53  
2. Excess Finance Charge Collections:
  $ 0.00  
3. Applied to fund Class A Required Amount:
  $ 0.00  
4. Class A Investor Charge-Offs treated as Available Principal Collections:
  $ 0.00  
5. Applied to fund overdue Class B Interest:
  $ 0.00  
6. Applied to fund Class B Required Amount:
  $ 228,823.52  
7. Reduction of Class B Invested Amount treated as Available Principal Collections:
  $ 0.00  
8. Applied to Collateral Minimum Monthly Interest:
  $ 155,711.85  
9. Applied to unpaid Monthly Servicing Fee:
  $ 1,166,666.67  
10. Collateral Default Amount treated as Available Principal Collections:
  $ 274,588.22  
11. Reduction of Collateral Invested Amount treated as Available Principal Collections:
  $ 0.00  
12. Deposited to Reserve Account:
  $ 2,922,500.00  
13. Remaining Excess Spread distributed to Collateral Interest Holder:
  $ 2,794,636.27  
 
       
O. Yield and Base Rate.
       
 
       
1. Base Rate:
       
a. Current Monthly Period:
    4.8149 %
b. Prior Monthly Period:
    4.9878 %
c. Second Prior Monthly Period:
    5.1604 %
2. Three Month Average Base Rate:
    4.9877 %
3. Series Adjusted Portfolio Yield:
       
a. Current Monthly Period:
    14.7518 %
b. Prior Monthly Period:
    15.9003 %
c. Second Prior Monthly Period:
    15.9935 %
4. Three Month Average Series Adjusted Portfolio Yield:
    15.5485 %
5. Is the 3 month average Series Adjusted Portfolio Yield more than the 3 month average Base Rate?
  Yes  

- 77 -


 

Series 2005-7 Certificates
                         
            Total Investor        
A. Investor/Transferor Allocations   Series Allocations     Interest     Transferors’ Interest  
Beginning Invested Amount/Transferor Amount
    895,228,509.85       700,000,000.00       195,228,509.85  
Beginning Adjusted Invested Amount
    N/A       700,000,000.00       N/A  
Floating Allocation Percentage
    N/A       78.1923 %     21.8077 %
Principal Allocation Percentage
    N/A       78.1923 %     21.8077 %
Collections of Finance Charge Receivables
    14,995,361.01       11,725,221.65       3,270,139.36  
Collections of Principal Receivables
    212,960,773.52       166,518,983.50       46,441,790.02  
Defaulted Amount
    3,901,892.12       3,050,980.23       850,911.89  
 
                       
Ending Invested Amount / Transferor Amount
    893,125,587.20       700,000,000.00       193,125,587.20  
                                 
B. Monthly Period Funding Requirements   Class A     Class B     Collateral Interest     Total  
Principal Funding Account Balance
    0.00       0.00       0.00       0.00  
Investment Proceeds for Monthly Period
    0.00       0.00       0.00       0.00  
Reserve Account Opening Balance
    0.00       0.00       0.00       0.00  
Reserve Account Deposit
    0.00       0.00       0.00       0.00  
Reserve Draw Amount
    0.00       0.00       0.00       0.00  
Reserve Account Surplus
    0.00       0.00       0.00       0.00  
Reserve Account Closing Balance
    0.00       0.00       0.00       0.00  
 
                               
LIBOR Determination Date
  April 11, 2008     April 11, 2008     April 11, 2008          
Coupon April 15, 2008 - May 14, 2008
    2.7859 %     2.9859 %     3.1259 %        
Monthly Interest Due
    1,356,984.94       130,634.88       164,111.85       1,651,731.67  
Outstanding Monthly Interest Due
    0.00       0.00       0.00       0.00  
Additional Interest Due
    0.00       0.00       0.00       0.00  
Total Interest Due
    1,356,984.94       130,634.88       164,111.85       1,651,731.67  
Investor Default Amount
    2,547,568.49       228,823.52       274,588.22       3,050,980.23  
Investor Monthly Fees Due
    974,166.67       87,500.00       105,000.00       1,166,666.67  
Investor Additional Amounts Due
    0.00       0.00       0.00       0.00  
Total Due
    4,878,720.10       446,958.40       543,700.07       5,869,378.57  
 
                               
Reallocated Investor Finance Charge Collections
                            11,586,514.84  
Interest and Principal Funding Investment Proceeds
                            0.00  
Interest on Reserve Account
                            0.00  
Series Adjusted Portfolio Yield
                            14.8356 %
Base Rate
                            4.8986 %
Excess Spread Percentage
                            9.8008 %
                                 
C. Certificates - Balances and Distributions   Class A     Class B     Collateral Interest     Total  
Beginning Certificates Balance
    584,500,000.00       52,500,000.00       63,000,000.00       700,000,000.00  
Distributions of Interest
    1,356,984.94       130,634.88       164,111.85       1,651,731.67  
Deposits to the Principal Funding Account
    0.00       0.00       0.00       0.00  
Distributions of Principal
    0.00       0.00       0.00       0.00  
Total Distributions
    1,356,984.94       130,634.88       164,111.85       1,651,731.67  
Ending Certificates Balance
    584,500,000.00       52,500,000.00       63,000,000.00       700,000,000.00  

- 78 -


 

         
D. Information regarding distributions on the Distribution Date in respect of the Class A Certificates per $1,000 original certificate principal amount.
       
 
       
1. The total amount of the distribution:
  $ 2.32  
2. The amount of the distribution in respect of Class A Monthly Interest:
  $ 2.32  
3. The amount of the distribution in respect of Class A Outstanding Monthly Interest:
  $ 0.00  
4. The amount of the distribution in respect of Class A Additional Interest:
  $ 0.00  
5. The amount of the distribution in respect of principal of the Class A Certificates:
  $ 0.00  
 
       
E. Class A Investor Charge-Offs and Reimbursement of Class A Investor Charge-Offs.
       
 
       
1. The total amount of Class A Investor Charge-Offs:
  $ 0.00  
2. The amount of Class A Investor Charge- Offs per $1,000 original certificate principal amount:
  $ 0.00  
3. The total amount reimbursed in respect of Class A Investor Charge-Offs:
  $ 0.00  
4. The amount reimbursed in respect of Class A Investor Charge-Offs per $1,000 original certificate principal amount:
  $ 0.00  
5. The amount, if any, by which the outstanding principal balance of the Class A Certificates exceeds the Class A Invested Amount after giving effect to all transactions on such Distribution Date:
  $ 0.00  
 
       
F. Information regarding distributions in respect of the Class B Certificates, per $1,000 original certificate principal amount.
       
 
       
1. The total amount of the distribution in respect of Class B Certificates:
  $ 2.49  
2. The amount of the distribution in respect of Class B Monthly Interest:
  $ 2.49  
3. The amount of the distribution in respect of Class B Outstanding Monthly Interest:
  $ 0.00  
4. The amount of the distribution in respect of Class B Additional Interest:
  $ 0.00  
5. The amount of the distribution in respect of principal of the Class B Certificates:
  $ 0.00  

- 79 -


 

         
G. Amount of reductions in Class B Invested Amount pursuant to clauses (c), (d), and (e) of the definition of Class B Invested Amount on such Distribution Date.
       
 
       
1. The amount of reductions in Class B Invested Amount pursuant to clauses (c), (d), and (e) of the definition of Class B Invested Amount:
  $ 0.00  
2. The amount of reductions in the Class B Invested Amount, per $1,000 original certificate principal amount:
  $ 0.00  
3. The total amount reimbursed in respect of such reductions in the Class B Invested Amount:
  $ 0.00  
4. The amount reimbursed in respect of such reductions in the Class B Invested Amount, per $1,000 original certificate principal amount:
  $ 0.00  
5. The amount, if any, by which the outstanding principal balance of the Class B Certificates exceeds the Class B Invested Amount after giving effect to all transactions on such Distribution Date:
  $ 0.00  
 
       
H. Information regarding distributions on the Distribution Date to the Collateral Interest Holder.
       
 
       
1. The total amount distributed to the Collateral Interest Holder:
  $ 5,881,248.12  
2. The amount of the distribution in respect of Collateral Minimum Monthly Interest:
  $ 164,111.85  
3. The amount of the distribution in respect of Collateral Additional Interest:
  $ 0.00  
4. The amount distributed to the Collateral Interest Holder in respect of principal on the Collateral Invested Amount:
  $ 0.00  
5. The amount distributed to the Collateral Interest Holder in respect of remaining Excess Spread:
  $ 5,717,136.27  

- 80 -


 

         
I. Amount of reductions in Collateral Invested Amount pursuant to clauses (c), (d), and (e) of the definition of Collateral Invested Amount.
       
 
       
1. The amount of reductions in the Collateral Invested Amount pursuant to clauses (c), (d), and (e) of the definition of Collateral Invested Amount:
  $ 0.00  
2. The total amount reimbursed in respect of such reductions in the Collateral Invested Amount:
  $ 0.00  
 
       
J. Application of Reallocated Investor Finance Charge Collections.
       
 
       
1. Class A Available Funds:
  $ 9,674,739.89  
a. Class A Monthly Interest:
  $ 1,356,984.94  
b. Class A Outstanding Monthly Interest:
  $ 0.00  
c. Class A Additional Interest:
  $ 0.00  
d. Class A Investor Default Amount (treated as Available Principal Collections):
  $ 2,547,568.49  
e. Excess Spread:
  $ 5,770,186.46  
2. Class B Available Funds:
  $ 868,988.61  
a. Class B Monthly Interest:
  $ 130,634.88  
b. Class B Outstanding Monthly Interest:
  $ 0.00  
c. Class B Additional Interest:
  $ 0.00  
d. Excess Spread:
  $ 738,353.73  
3. Collateral Available Funds:
  $ 1,042,786.34  
a. Excess Spread:
  $ 1,042,786.34  
4. Total Excess Spread:
  $ 7,551,326.53  

- 81 -


 

         
K. Reallocated Principal Collections.
       
 
       
1. Principal Allocation Percentage:
    78.1923 %
2. Series 2005-7 Allocable Principal Collections:
  $ 212,960,773.52  
3. Principal Allocation Percentage of Series 2005-7 Allocable Principal Collections:
  $ 166,518,983.50  
4. Reallocated Principal Collections Required to fund the Required Amount:
  $ 0.00  
5. Item 3 minus item 4:
  $ 166,518,983.50  
6. Shared Principal Collections from other Series allocated to Series 2005-7:
  $ 0.00  
7. Other amounts treated as Available Principal Collections:
  $ 3,050,980.23  
8. Available Principal Collections (total of items 5., 6. & 7.):
  $ 169,569,963.73  
 
       
L. Application of Available Principal Collections during Revolving Period.
       
 
       
1. Collateral Invested Amount:
  $ 63,000,000.00  
2. Required Collateral Invested Amount:
  $ 63,000,000.00  
3. Excess of Collateral Invested Amount over Required Collateral Invested Amount:
  $ 0.00  
4. Treated as Shared Principal Collections:
  $ 169,569,963.73  
 
       
M. Application of Principal Collections During Accumulation or Amortization Period.
       
 
       
1. Principal Funding Account:
  $ 0.00  
2. Excess of Collateral Invested Amount over Required Collateral Invested Amount:
  $ 0.00  
3. Distribution of Principal:
  $ 0.00  
4. Treated as Shared Principal Collections:
  $ 0.00  

- 82 -


 

         
N. Application of Excess Spread and Excess Finance Charge Collections Allocated to Series 2005-7.
       
 
       
1. Excess Spread:
  $ 7,551,326.53  
2. Excess Finance Charge Collections:
  $ 0.00  
3. Applied to fund Class A Required Amount:
  $ 0.00  
4. Class A Investor Charge-Offs treated as Available Principal Collections:
  $ 0.00  
5. Applied to fund overdue Class B Interest:
  $ 0.00  
6. Applied to fund Class B Required Amount:
  $ 228,823.52  
7. Reduction of Class B Invested Amount treated as Available Principal Collections:
  $ 0.00  
8. Applied to Collateral Minimum Monthly Interest:
  $ 164,111.85  
9. Applied to unpaid Monthly Servicing Fee:
  $ 1,166,666.67  
10. Collateral Default Amount treated as Available Principal Collections:
  $ 274,588.22  
11. Reduction of Collateral Invested Amount treated as Available Principal Collections:
  $ 0.00  
12. Deposited to Reserve Account:
  $ 0.00  
13. Remaining Excess Spread distributed to Collateral Interest Holder:
  $ 5,717,136.27  
 
       
O. Yield and Base Rate.
       
 
       
1. Base Rate:
       
a. Current Monthly Period:
    4.8986 %
b. Prior Monthly Period:
    5.0715 %
c. Second Prior Monthly Period:
    5.2442 %
2. Three Month Average Base Rate:
    5.0715 %
3. Series Adjusted Portfolio Yield:
       
a. Current Monthly Period:
    14.8356 %
b. Prior Monthly Period:
    15.9813 %
c. Second Prior Monthly Period:
    16.0800 %
4. Three Month Average Series Adjusted Portfolio Yield:
    15.6323 %
5. Is the 3 month average Series Adjusted Portfolio Yield more than the 3 month average Base Rate?
  Yes  

- 83 -


 

Series 2005-8 Certificates
                         
            Total Investor        
A. Investor/Transferor Allocations   Series Allocations     Interest     Transferors’ Interest  
Beginning Invested Amount/Transferor Amount
    639,448,935.60       500,000,000.00       139,448,935.60  
Beginning Adjusted Invested Amount
    N/A       500,000,000.00       N/A  
Floating Allocation Percentage
    N/A       78.1923 %     21.8077 %
Principal Allocation Percentage
    N/A       78.1923 %     21.8077 %
Collections of Finance Charge Receivables
    10,710,972.15       8,375,158.32       2,335,813.83  
Collections of Principal Receivables
    152,114,838.23       118,942,131.08       33,172,707.15  
Defaulted Amount
    2,787,065.80       2,179,271.59       607,794.21  
 
                       
Ending Invested Amount / Transferor Amount
    637,946,848.00       500,000,000.00       137,946,848.00  
                                 
B. Monthly Period Funding Requirements   Class A     Class B     Collateral Interest     Total  
Principal Funding Account Balance
    0.00       0.00       0.00       0.00  
Investment Proceeds for Monthly Period
    0.00       0.00       0.00       0.00  
Reserve Account Opening Balance
    0.00       0.00       0.00       0.00  
Reserve Account Deposit
    0.00       0.00       0.00       0.00  
Reserve Draw Amount
    0.00       0.00       0.00       0.00  
Reserve Account Surplus
    0.00       0.00       0.00       0.00  
Reserve Account Closing Balance
    0.00       0.00       0.00       0.00  
 
                               
LIBOR Determination Date
  April 11, 2008     April 11, 2008     April 11, 2008        
Coupon April 15, 2008 - May 14, 2008
    2.7459 %     2.8859 %     3.0459 %        
Monthly Interest Due
    955,358.29       90,185.63       114,222.75       1,159,766.67  
Outstanding Monthly Interest Due
    0.00       0.00       0.00       0.00  
Additional Interest Due
    0.00       0.00       0.00       0.00  
Total Interest Due
    955,358.29       90,185.63       114,222.75       1,159,766.67  
Investor Default Amount
    1,819,691.78       163,445.37       196,134.44       2,179,271.59  
Investor Monthly Fees Due
    695,833.33       62,500.00       75,000.00       833,333.33  
Investor Additional Amounts Due
    0.00       0.00       0.00       0.00  
Total Due
    3,470,883.40       316,131.00       385,357.19       4,172,371.59  
 
                               
Reallocated Investor Finance Charge Collections
                            8,256,040.35  
Interest and Principal Funding Investment Proceeds
                            0.00  
Interest on Reserve Account
                            0.00  
Series Adjusted Portfolio Yield
                            14.7868 %
Base Rate
                            4.8499 %
Excess Spread Percentage
                            9.8008 %
                                 
C. Certificates - Balances and Distributions   Class A     Class B     Collateral Interest     Total  
Beginning Certificates Balance
    417,500,000.00       37,500,000.00       45,000,000.00       500,000,000.00  
Distributions of Interest
    955,358.29       90,185.63       114,222.75       1,159,766.67  
Deposits to the Principal Funding Account
    0.00       0.00       0.00       0.00  
Distributions of Principal
    0.00       0.00       0.00       0.00  
Total Distributions
    955,358.29       90,185.63       114,222.75       1,159,766.67  
Ending Certificates Balance
    417,500,000.00       37,500,000.00       45,000,000.00       500,000,000.00  

- 84 -


 

         
D. Information regarding distributions on the Distribution Date in respect of the Class A Certificates per $1,000 original certificate principal amount.
       
 
       
1. The total amount of the distribution:
  $ 2.29  
2. The amount of the distribution in respect of Class A Monthly Interest:
  $ 2.29  
3. The amount of the distribution in respect of Class A Outstanding Monthly Interest:
  $ 0.00  
4. The amount of the distribution in respect of Class A Additional Interest:
  $ 0.00  
5. The amount of the distribution in respect of principal of the Class A Certificates:
  $ 0.00  
 
       
E. Class A Investor Charge-Offs and Reimbursement of Class A Investor Charge-Offs.
       
 
       
1. The total amount of Class A Investor Charge-Offs:
  $ 0.00  
2. The amount of Class A Investor Charge- Offs per $1,000 original certificate principal amount:
  $ 0.00  
3. The total amount reimbursed in respect of Class A Investor Charge-Offs:
  $ 0.00  
4. The amount reimbursed in respect of Class A Investor Charge-Offs per $1,000 original certificate principal amount:
  $ 0.00  
5. The amount, if any, by which the outstanding principal balance of the Class A Certificates exceeds the Class A Invested Amount after giving effect to all transactions on such Distribution Date:
  $ 0.00  
 
       
F. Information regarding distributions in respect of the Class B Certificates, per $1,000 original certificate principal amount.
       
 
       
1. The total amount of the distribution in respect of Class B Certificates:
  $ 2.40  
2. The amount of the distribution in respect of Class B Monthly Interest:
  $ 2.40  
3. The amount of the distribution in respect of Class B Outstanding Monthly Interest:
  $ 0.00  
4. The amount of the distribution in respect of Class B Additional Interest:
  $ 0.00  
5. The amount of the distribution in respect of principal of the Class B Certificates:
  $ 0.00  

- 85 -


 

         
G. Amount of reductions in Class B Invested Amount pursuant to clauses (c), (d), and (e) of the definition of Class B Invested Amount on such Distribution Date.
       
 
       
1. The amount of reductions in Class B Invested Amount pursuant to clauses (c), (d), and (e) of the definition of Class B Invested Amount:
  $ 0.00  
2. The amount of reductions in the Class B Invested Amount, per $1,000 original certificate principal amount:
  $ 0.00  
3. The total amount reimbursed in respect of such reductions in the Class B Invested Amount:
  $ 0.00  
4. The amount reimbursed in respect of such reductions in the Class B Invested Amount, per $1,000 original certificate principal amount:
  $ 0.00  
5. The amount, if any, by which the outstanding principal balance of the Class B Certificates exceeds the Class B Invested Amount after giving effect to all transactions on such Distribution Date:
  $ 0.00  
 
       
H. Information regarding distributions on the Distribution Date to the Collateral Interest Holder.
       
 
       
1. The total amount distributed to the Collateral Interest Holder:
  $ 4,197,891.51  
2. The amount of the distribution in respect of Collateral Minimum Monthly Interest:
  $ 114,222.75  
3. The amount of the distribution in respect of Collateral Additional Interest:
  $ 0.00  
4. The amount distributed to the Collateral Interest Holder in respect of principal on the Collateral Invested Amount:
  $ 0.00  
5. The amount distributed to the Collateral Interest Holder in respect of remaining Excess Spread:
  $ 4,083,668.76  

- 86 -


 

         
I. Amount of reductions in Collateral Invested Amount pursuant to clauses (c), (d), and (e) of the definition of Collateral Invested Amount.
       
 
       
1. The amount of reductions in the Collateral Invested Amount pursuant to clauses (c), (d), and (e) of the definition of Collateral Invested Amount:
  $ 0.00  
2. The total amount reimbursed in respect of such reductions in the Collateral Invested Amount:
  $ 0.00  
 
       
J. Application of Reallocated Investor Finance Charge Collections.
       
 
       
1. Class A Available Funds:
  $ 6,893,793.69  
a. Class A Monthly Interest:
  $ 955,358.29  
b. Class A Outstanding Monthly Interest:
  $ 0.00  
c. Class A Additional Interest:
  $ 0.00  
d. Class A Investor Default Amount (treated as Available Principal Collections):
  $ 1,819,691.78  
e. Excess Spread:
  $ 4,118,743.62  
2. Class B Available Funds:
  $ 619,203.03  
a. Class B Monthly Interest:
  $ 90,185.63  
b. Class B Outstanding Monthly Interest:
  $ 0.00  
c. Class B Additional Interest:
  $ 0.00  
d. Excess Spread:
  $ 529,017.40  
3. Collateral Available Funds:
  $ 743,043.63  
a. Excess Spread:
  $ 743,043.63  
4. Total Excess Spread:
  $ 5,390,804.65  

- 87 -


 

         
K. Reallocated Principal Collections.
       
 
       
1. Principal Allocation Percentage:
    78.1923 %
2. Series 2005-8 Allocable Principal Collections:
  $ 152,114,838.23  
3. Principal Allocation Percentage of Series 2005-8 Allocable Principal Collections:
  $ 118,942,131.08  
4. Reallocated Principal Collections Required to fund the Required Amount:
  $ 0.00  
5. Item 3 minus item 4:
  $ 118,942,131.08  
6. Shared Principal Collections from other Series allocated to Series 2005-8:
  $ 0.00  
7. Other amounts treated as Available Principal Collections:
  $ 2,179,271.59  
8. Available Principal Collections (total of items 5., 6. & 7.):
  $ 121,121,402.67  
 
       
L. Application of Available Principal Collections during Revolving Period.
       
 
       
1. Collateral Invested Amount:
  $ 45,000,000.00  
2. Required Collateral Invested Amount:
  $ 45,000,000.00  
3. Excess of Collateral Invested Amount over Required Collateral Invested Amount:
  $ 0.00  
4. Treated as Shared Principal Collections:
  $ 121,121,402.67  
 
       
M. Application of Principal Collections During Accumulation or Amortization Period.
       
 
       
1. Principal Funding Account:
  $ 0.00  
2. Excess of Collateral Invested Amount over Required Collateral Invested Amount:
  $ 0.00  
3. Distribution of Principal:
  $ 0.00  
4. Treated as Shared Principal Collections:
  $ 0.00  

- 88 -


 

         
N. Application of Excess Spread and Excess Finance Charge Collections Allocated to Series 2005-8.
       
 
       
1. Excess Spread:
  $ 5,390,804.65  
2. Excess Finance Charge Collections:
  $ 0.00  
3. Applied to fund Class A Required Amount:
  $ 0.00  
4. Class A Investor Charge-Offs treated as Available Principal Collections:
  $ 0.00  
5. Applied to fund overdue Class B Interest:
  $ 0.00  
6. Applied to fund Class B Required Amount:
  $ 163,445.37  
7. Reduction of Class B Invested Amount treated as Available Principal Collections:
  $ 0.00  
8. Applied to Collateral Minimum Monthly Interest:
  $ 114,222.75  
9. Applied to unpaid Monthly Servicing Fee:
  $ 833,333.33  
10. Collateral Default Amount treated as Available Principal Collections:
  $ 196,134.44  
11. Reduction of Collateral Invested Amount treated as Available Principal Collections:
  $ 0.00  
12. Deposited to Reserve Account:
  $ 0.00  
13. Remaining Excess Spread distributed to Collateral Interest Holder:
  $ 4,083,668.76  
 
       
O. Yield and Base Rate.
       
 
       
1. Base Rate:
       
a. Current Monthly Period:
    4.8499 %
b. Prior Monthly Period:
    5.0228 %
c. Second Prior Monthly Period:
    5.1954 %
2. Three Month Average Base Rate:
    5.0227 %
3. Series Adjusted Portfolio Yield:
       
a. Current Monthly Period:
    14.7868 %
b. Prior Monthly Period:
    15.9341 %
c. Second Prior Monthly Period:
    16.0296 %
4. Three Month Average Series Adjusted Portfolio Yield:
    15.5835 %
5. Is the 3 month average Series Adjusted Portfolio Yield more than the 3 month average Base Rate?
  Yes  

- 89 -


 

Series 2006-1 Certificates
                         
            Total Investor        
A. Investor/Transferor Allocations   Series Allocations     Interest     Transferors’ Interest  
Beginning Invested Amount/Transferor Amount
    1,278,897,871.21       1,000,000,000.00       278,897,871.21  
Beginning Adjusted Invested Amount
    N/A       1,000,000,000.00       N/A  
Floating Allocation Percentage
    N/A       78.1923 %     21.8077 %
Principal Allocation Percentage
    N/A       78.1923 %     21.8077 %
Collections of Finance Charge Receivables
    21,421,944.30       16,750,316.65       4,671,627.65  
Collections of Principal Receivables
    304,229,676.46       237,884,262.15       66,345,414.31  
Defaulted Amount
    5,574,131.60       4,358,543.18       1,215,588.42  
 
                       
Ending Invested Amount / Transferor Amount
    1,275,893,696.00       1,000,000,000.00       275,893,696.00  
                                 
B. Monthly Period Funding Requirements   Class A     Class B     Collateral Interest     Total  
Principal Funding Account Balance
    0.00       0.00       0.00       0.00  
Investment Proceeds for Monthly Period
    0.00       0.00       0.00       0.00  
Reserve Account Opening Balance
    0.00       0.00       0.00       0.00  
Reserve Account Deposit
    0.00       0.00       0.00       0.00  
Reserve Draw Amount
    0.00       0.00       0.00       0.00  
Reserve Account Surplus
    0.00       0.00       0.00       0.00  
Reserve Account Closing Balance
    0.00       0.00       0.00       0.00  
 
                               
LIBOR Determination Date
  April 11, 2008     April 11, 2008     April 11, 2008          
Coupon April 15, 2008 - May 14, 2008
    2.7459 %     2.8559 %     2.9959 %        
Monthly Interest Due
    1,910,716.58       178,496.25       224,695.50       2,313,908.33  
Outstanding Monthly Interest Due
    0.00       0.00       0.00       0.00  
Additional Interest Due
    0.00       0.00       0.00       0.00  
Total Interest Due
    1,910,716.58       178,496.25       224,695.50       2,313,908.33  
Investor Default Amount
    3,639,383.56       326,890.74       392,268.89       4,358,543.18  
Investor Monthly Fees Due
    1,391,666.67       125,000.00       150,000.00       1,666,666.67  
Investor Additional Amounts Due
    0.00       0.00       0.00       0.00  
Total Due
    6,941,766.81       630,386.99       766,964.39       8,339,118.19  
 
                               
Reallocated Investor Finance Charge Collections
                            16,506,455.70  
Interest and Principal Funding Investment Proceeds
                            0.00  
Interest on Reserve Account
                            0.00  
Series Adjusted Portfolio Yield
                            14.7800 %
Base Rate
                            4.8430 %
Excess Spread Percentage
                            9.8008 %
                                 
C. Certificates - Balances and Distributions   Class A     Class B     Collateral Interest     Total  
Beginning Certificates Balance
    835,000,000.00       75,000,000.00       90,000,000.00       1,000,000,000.00  
Distributions of Interest
    1,910,716.58       178,496.25       224,695.50       2,313,908.33  
Deposits to the Principal Funding Account
    0.00       0.00       0.00       0.00  
Distributions of Principal
    0.00       0.00       0.00       0.00  
Total Distributions
    1,910,716.58       178,496.25       224,695.50       2,313,908.33  
Ending Certificates Balance
    835,000,000.00       75,000,000.00       90,000,000.00       1,000,000,000.00  

- 90 -


 

         
D. Information regarding distributions on the Distribution Date in respect of the Class A Certificates per $1,000 original certificate principal amount.
       
 
       
1. The total amount of the distribution:
  $ 2.29  
2. The amount of the distribution in respect of Class A Monthly Interest:
  $ 2.29  
3. The amount of the distribution in respect of Class A Outstanding Monthly Interest:
  $ 0.00  
4. The amount of the distribution in respect of Class A Additional Interest:
  $ 0.00  
5. The amount of the distribution in respect of principal of the Class A Certificates:
  $ 0.00  
 
       
E. Class A Investor Charge-Offs and Reimbursement of Class A Investor Charge-Offs.
       
 
       
1. The total amount of Class A Investor Charge-Offs:
  $ 0.00  
2. The amount of Class A Investor Charge- Offs per $1,000 original certificate principal amount:
  $ 0.00  
3. The total amount reimbursed in respect of Class A Investor Charge-Offs:
  $ 0.00  
4. The amount reimbursed in respect of Class A Investor Charge-Offs per $1,000 original certificate principal amount:
  $ 0.00  
5. The amount, if any, by which the outstanding principal balance of the Class A Certificates exceeds the Class A Invested Amount after giving effect to all transactions on such Distribution Date:
  $ 0.00  
 
       
F. Information regarding distributions in respect of the Class B Certificates, per $1,000 original certificate principal amount.
       
 
       
1. The total amount of the distribution in respect of Class B Certificates:
  $ 2.38  
2. The amount of the distribution in respect of Class B Monthly Interest:
  $ 2.38  
3. The amount of the distribution in respect of Class B Outstanding Monthly Interest:
  $ 0.00  
4. The amount of the distribution in respect of Class B Additional Interest:
  $ 0.00  
5. The amount of the distribution in respect of principal of the Class B Certificates:
  $ 0.00  

- 91 -


 

         
G. Amount of reductions in Class B Invested Amount pursuant to clauses (c), (d), and (e) of the definition of Class B Invested Amount on such Distribution Date.
       
 
       
1. The amount of reductions in Class B Invested Amount pursuant to clauses (c), (d), and (e) of the definition of Class B Invested Amount:
  $ 0.00  
2. The amount of reductions in the Class B Invested Amount, per $1,000 original certificate principal amount:
  $ 0.00  
3. The total amount reimbursed in respect of such reductions in the Class B Invested Amount:
  $ 0.00  
4. The amount reimbursed in respect of such reductions in the Class B Invested Amount, per $1,000 original certificate principal amount:
  $ 0.00  
5. The amount, if any, by which the outstanding principal balance of the Class B Certificates exceeds the Class B Invested Amount after giving effect to all transactions on such Distribution Date:
  $ 0.00  
 
       
H. Information regarding distributions on the Distribution Date to the Collateral Interest Holder.
       
 
       
1. The total amount distributed to the Collateral Interest Holder:
  $ 8,392,033.01  
2. The amount of the distribution in respect of Collateral Minimum Monthly Interest:
  $ 224,695.50  
3. The amount of the distribution in respect of Collateral Additional Interest:
  $ 0.00  
4. The amount distributed to the Collateral Interest Holder in respect of principal on the Collateral Invested Amount:
  $ 0.00  
5. The amount distributed to the Collateral Interest Holder in respect of remaining Excess Spread:
  $ 8,167,337.51  

- 92 -


 

         
I. Amount of reductions in Collateral Invested Amount pursuant to clauses (c), (d), and (e) of the definition of Collateral Invested Amount.
       
 
       
1. The amount of reductions in the Collateral Invested Amount pursuant to clauses (c), (d), and (e) of the definition of Collateral Invested Amount:
  $ 0.00  
2. The total amount reimbursed in respect of such reductions in the Collateral Invested Amount:
  $ 0.00  
 
       
J. Application of Reallocated Investor Finance Charge Collections.
       
 
       
1. Class A Available Funds:
  $ 13,782,890.51  
a. Class A Monthly Interest:
  $ 1,910,716.58  
b. Class A Outstanding Monthly Interest:
  $ 0.00  
c. Class A Additional Interest:
  $ 0.00  
d. Class A Investor Default Amount (treated as Available Principal Collections):
  $ 3,639,383.56  
e. Excess Spread:
  $ 8,232,790.37  
2. Class B Available Funds:
  $ 1,237,984.18  
a. Class B Monthly Interest:
  $ 178,496.25  
b. Class B Outstanding Monthly Interest:
  $ 0.00  
c. Class B Additional Interest:
  $ 0.00  
d. Excess Spread:
  $ 1,059,487.93  
3. Collateral Available Funds:
  $ 1,485,581.01  
a. Excess Spread:
  $ 1,485,581.01  
4. Total Excess Spread:
  $ 10,777,859.31  

- 93 -


 

         
K. Reallocated Principal Collections.
       
 
       
1. Principal Allocation Percentage:
    78.1923 %
2. Series 2006-1 Allocable Principal Collections:
  $ 304,229,676.46  
3. Principal Allocation Percentage of Series 2006-1 Allocable Principal Collections:
  $ 237,884,262.15  
4. Reallocated Principal Collections Required to fund the Required Amount:
  $ 0.00  
5. Item 3 minus item 4:
  $ 237,884,262.15  
6. Shared Principal Collections from other Series allocated to Series 2006-1:
  $ 0.00  
7. Other amounts treated as Available Principal Collections:
  $ 4,358,543.19  
8. Available Principal Collections (total of items 5., 6. & 7.):
  $ 242,242,805.34  
 
       
L. Application of Available Principal Collections during Revolving Period.
       
 
       
1. Collateral Invested Amount:
  $ 90,000,000.00  
2. Required Collateral Invested Amount:
  $ 90,000,000.00  
3. Excess of Collateral Invested Amount over Required Collateral Invested Amount:
  $ 0.00  
4. Treated as Shared Principal Collections:
  $ 242,242,805.34  
 
       
M. Application of Principal Collections During Accumulation or Amortization Period.
       
 
       
1. Principal Funding Account:
  $ 0.00  
2. Excess of Collateral Invested Amount over Required Collateral Invested Amount:
  $ 0.00  
3. Distribution of Principal:
  $ 0.00  
4. Treated as Shared Principal Collections:
  $ 0.00  

- 94 -


 

         
N. Application of Excess Spread and Excess Finance Charge Collections Allocated to Series 2006-1.
       
 
       
1. Excess Spread:
  $ 10,777,859.31  
2. Excess Finance Charge Collections:
  $ 0.00  
3. Applied to fund Class A Required Amount:
  $ 0.00  
4. Class A Investor Charge-Offs treated as Available Principal Collections:
  $ 0.00  
5. Applied to fund overdue Class B Interest:
  $ 0.00  
6. Applied to fund Class B Required Amount:
  $ 326,890.74  
7. Reduction of Class B Invested Amount treated as Available Principal Collections:
  $ 0.00  
8. Applied to Collateral Minimum Monthly Interest:
  $ 224,695.50  
9. Applied to unpaid Monthly Servicing Fee:
  $ 1,666,666.67  
10. Collateral Default Amount treated as Available Principal Collections:
  $ 392,268.89  
11. Reduction of Collateral Invested Amount treated as Available Principal Collections:
  $ 0.00  
12. Deposited to Reserve Account:
  $ 0.00  
13. Remaining Excess Spread distributed to Collateral Interest Holder:
  $ 8,167,337.51  
 
       
O. Yield and Base Rate.
       
 
       
1. Base Rate:
       
a. Current Monthly Period:
    4.8430 %
b. Prior Monthly Period:
    5.0159 %
c. Second Prior Monthly Period:
    5.1886 %
2. Three Month Average Base Rate:
    5.0158 %
3. Series Adjusted Portfolio Yield:
       
a. Current Monthly Period:
    14.7800 %
b. Prior Monthly Period:
    15.9275 %
c. Second Prior Monthly Period:
    16.0226 %
4. Three Month Average Series Adjusted Portfolio Yield:
    15.5767 %
5. Is the 3 month average Series Adjusted Portfolio Yield more than the 3 month average Base Rate?
  Yes  

- 95 -


 

Series 2006-2 Certificates
                         
            Total Investor        
A. Investor/Transferor Allocations   Series Allocations     Interest     Transferors’ Interest  
Beginning Invested Amount/Transferor Amount
    639,448,935.60       500,000,000.00       139,448,935.60  
Beginning Adjusted Invested Amount
    N/A       500,000,000.00       N/A  
Floating Allocation Percentage
    N/A       78.1923 %     21.8077 %
Principal Allocation Percentage
    N/A       78.1923 %     21.8077 %
Collections of Finance Charge Receivables
    10,710,972.15       8,375,158.32       2,335,813.83  
Collections of Principal Receivables
    152,114,838.23       118,942,131.08       33,172,707.15  
Defaulted Amount
    2,787,065.80       2,179,271.59       607,794.21  
 
                       
Ending Invested Amount / Transferor Amount
    637,946,848.00       500,000,000.00       137,946,848.00  
                                 
B. Monthly Period Funding Requirements   Class A     Class B     Collateral Interest     Total  
Principal Funding Account Balance
    0.00       0.00       0.00       0.00  
Investment Proceeds for Monthly Period
    0.00       0.00       0.00       0.00  
Reserve Account Opening Balance
    0.00       0.00       0.00       0.00  
Reserve Account Deposit
    0.00       0.00       0.00       0.00  
Reserve Draw Amount
    0.00       0.00       0.00       0.00  
Reserve Account Surplus
    0.00       0.00       0.00       0.00  
Reserve Account Closing Balance
    0.00       0.00       0.00       0.00  
 
                               
LIBOR Determination Date
  NA     NA     NA          
Coupon April 15, 2008 - May 14, 2008
    5.3500 %     5.5500 %     5.6500 %        
Monthly Interest Due
    1,950,520.83       127,187.50       164,791.67       2,242,500.00  
Outstanding Monthly Interest Due
    0.00       0.00       0.00       0.00  
Additional Interest Due
    0.00       0.00       0.00       0.00  
Total Interest Due
    1,950,520.83       127,187.50       164,791.67       2,242,500.00  
Investor Default Amount
    1,906,862.64       119,859.94       152,549.01       2,179,271.59  
Investor Monthly Fees Due
    729,166.67       45,833.33       58,333.33       833,333.33  
Investor Additional Amounts Due
    0.00       0.00       0.00       0.00  
Total Due
    4,586,550.14       292,880.77       375,674.01       5,255,104.92  
 
                               
Reallocated Investor Finance Charge Collections
                            8,628,595.77  
Interest and Principal Funding Investment Proceeds
                            0.00  
Interest on Reserve Account
                            0.00  
Series Adjusted Portfolio Yield
                            15.6934 %
Base Rate
                            7.4845 %
Excess Spread Percentage
                            8.0964 %
                                 
C. Certificates - Balances and Distributions   Class A     Class B     Collateral Interest     Total  
Beginning Certificates Balance
    437,500,000.00       27,500,000.00       35,000,000.00       500,000,000.00  
Distributions of Interest
    1,950,520.83       127,187.50       164,791.67       2,242,500.00  
Deposits to the Principal Funding Account
    0.00       0.00       0.00       0.00  
Distributions of Principal
    0.00       0.00       0.00       0.00  
Total Distributions
    1,950,520.83       127,187.50       164,791.67       2,242,500.00  
Ending Certificates Balance
    437,500,000.00       27,500,000.00       35,000,000.00       500,000,000.00  

- 96 -


 

         
D. Information regarding distributions on the Distribution Date in respect of the Class A Certificates per $1,000 original certificate principal amount.
       
 
       
1. The total amount of the distribution:
  $ 4.46  
2. The amount of the distribution in respect of Class A Monthly Interest:
  $ 4.46  
3. The amount of the distribution in respect of Class A Outstanding Monthly Interest:
  $ 0.00  
4. The amount of the distribution in respect of Class A Additional Interest:
  $ 0.00  
5. The amount of the distribution in respect of principal of the Class A Certificates:
  $ 0.00  
 
       
E. Class A Investor Charge-Offs and Reimbursement of Class A Investor Charge-Offs.
       
 
       
1. The total amount of Class A Investor Charge-Offs:
  $ 0.00  
2. The amount of Class A Investor Charge- Offs per $1,000 original certificate principal amount:
  $ 0.00  
3. The total amount reimbursed in respect of Class A Investor Charge-Offs:
  $ 0.00  
4. The amount reimbursed in respect of Class A Investor Charge-Offs per $1,000 original certificate principal amount:
  $ 0.00  
5. The amount, if any, by which the outstanding principal balance of the Class A Certificates exceeds the Class A Invested Amount after giving effect to all transactions on such Distribution Date:
  $ 0.00  
 
       
F. Information regarding distributions in respect of the Class B Certificates, per $1,000 original certificate principal amount.
       
 
       
1. The total amount of the distribution in respect of Class B Certificates:
  $ 4.63  
2. The amount of the distribution in respect of Class B Monthly Interest:
  $ 4.63  
3. The amount of the distribution in respect of Class B Outstanding Monthly Interest:
  $ 0.00  
4. The amount of the distribution in respect of Class B Additional Interest:
  $ 0.00  
5. The amount of the distribution in respect of principal of the Class B Certificates:
  $ 0.00  

- 97 -


 

         
G. Amount of reductions in Class B Invested Amount pursuant to clauses (c), (d), and (e) of the definition of Class B Invested Amount on such Distribution Date.
       
 
       
1. The amount of reductions in Class B Invested Amount pursuant to clauses (c), (d), and (e) of the definition of Class B Invested Amount:
  $ 0.00  
2. The amount of reductions in the Class B Invested Amount, per $1,000 original certificate principal amount:
  $ 0.00  
3. The total amount reimbursed in respect of such reductions in the Class B Invested Amount:
  $ 0.00  
4. The amount reimbursed in respect of such reductions in the Class B Invested Amount, per $1,000 original certificate principal amount:
  $ 0.00  
5. The amount, if any, by which the outstanding principal balance of the Class B Certificates exceeds the Class B Invested Amount after giving effect to all transactions on such Distribution Date:
  $ 0.00  
 
       
H. Information regarding distributions on the Distribution Date to the Collateral Interest Holder.
       
 
       
1. The total amount distributed to the Collateral Interest Holder:
  $ 3,538,282.52  
2. The amount of the distribution in respect of Collateral Minimum Monthly Interest:
  $ 164,791.67  
3. The amount of the distribution in respect of Collateral Additional Interest:
  $ 0.00  
4. The amount distributed to the Collateral Interest Holder in respect of principal on the Collateral Invested Amount:
  $ 0.00  
5. The amount distributed to the Collateral Interest Holder in respect of remaining Excess Spread:
  $ 3,373,490.85  

- 98 -


 

         
I. Amount of reductions in Collateral Invested Amount pursuant to clauses (c), (d), and (e) of the definition of Collateral Invested Amount.
       
 
       
1. The amount of reductions in the Collateral Invested Amount pursuant to clauses (c), (d), and (e) of the definition of Collateral Invested Amount:
  $ 0.00  
2. The total amount reimbursed in respect of such reductions in the Collateral Invested Amount:
  $ 0.00  
 
       
J. Application of Reallocated Investor Finance Charge Collections.
       
 
       
1. Class A Available Funds:
  $ 7,550,021.30  
a. Class A Monthly Interest:
  $ 1,950,520.83  
b. Class A Outstanding Monthly Interest:
  $ 0.00  
c. Class A Additional Interest:
  $ 0.00  
d. Class A Investor Default Amount (treated as Available Principal Collections):
  $ 1,906,862.64  
e. Excess Spread:
  $ 3,692,637.83  
2. Class B Available Funds:
  $ 474,572.77  
a. Class B Monthly Interest:
  $ 127,187.50  
b. Class B Outstanding Monthly Interest:
  $ 0.00  
c. Class B Additional Interest:
  $ 0.00  
d. Excess Spread:
  $ 347,385.27  
3. Collateral Available Funds:
  $ 604,001.70  
a. Excess Spread:
  $ 604,001.70  
4. Total Excess Spread:
  $ 4,644,024.80  

- 99 -


 

         
K. Reallocated Principal Collections.
       
 
       
1. Principal Allocation Percentage:
    78.1923 %
2. Series 2006-2 Allocable Principal Collections:
  $ 152,114,838.23  
3. Principal Allocation Percentage of Series 2006-2 Allocable Principal Collections:
  $ 118,942,131.08  
4. Reallocated Principal Collections Required to fund the Required Amount:
  $ 0.00  
5. Item 3 minus item 4:
  $ 118,942,131.08  
6. Shared Principal Collections from other Series allocated to Series 2006-2:
  $ 0.00  
7. Other amounts treated as Available Principal Collections:
  $ 2,179,271.59  
8. Available Principal Collections (total of items 5., 6. & 7.):
  $ 121,121,402.67  
 
       
L. Application of Available Principal Collections during Revolving Period.
       
 
       
1. Collateral Invested Amount:
  $ 35,000,000.00  
2. Required Collateral Invested Amount:
  $ 35,000,000.00  
3. Excess of Collateral Invested Amount over Required Collateral Invested Amount:
  $ 0.00  
4. Treated as Shared Principal Collections:
  $ 121,121,402.67  
 
       
M. Application of Principal Collections During Accumulation or Amortization Period.
       
 
       
1. Principal Funding Account:
  $ 0.00  
2. Excess of Collateral Invested Amount over Required Collateral Invested Amount:
  $ 0.00  
3. Distribution of Principal:
  $ 0.00  
4. Treated as Shared Principal Collections:
  $ 0.00  

- 100 -


 

         
N. Application of Excess Spread and Excess Finance Charge Collections Allocated to Series 2006-2.
       
 
       
1. Excess Spread:
  $ 4,644,024.80  
2. Excess Finance Charge Collections:
  $ 0.00  
3. Applied to fund Class A Required Amount:
  $ 0.00  
4. Class A Investor Charge-Offs treated as Available Principal Collections:
  $ 0.00  
5. Applied to fund overdue Class B Interest:
  $ 0.00  
6. Applied to fund Class B Required Amount:
  $ 119,859.94  
7. Reduction of Class B Invested Amount treated as Available Principal Collections:
  $ 0.00  
8. Applied to Collateral Minimum Monthly Interest:
  $ 164,791.67  
9. Applied to unpaid Monthly Servicing Fee:
  $ 833,333.33  
10. Collateral Default Amount treated as Available Principal Collections:
  $ 152,549.01  
11. Reduction of Collateral Invested Amount treated as Available Principal Collections:
  $ 0.00  
12. Deposited to Reserve Account:
  $ 0.00  
13. Remaining Excess Spread distributed to Collateral Interest Holder:
  $ 3,373,490.85  
 
       
O. Yield and Base Rate.
       
 
       
1. Base Rate:
       
a. Current Monthly Period:
    7.4845 %
b. Prior Monthly Period:
    7.7426 %
c. Second Prior Monthly Period:
    7.2431 %
2. Three Month Average Base Rate:
    7.4901 %
3. Series Adjusted Portfolio Yield:
       
a. Current Monthly Period:
    15.6934 %
b. Prior Monthly Period:
    16.7390 %
c. Second Prior Monthly Period:
    16.7578 %
4. Three Month Average Series Adjusted Portfolio Yield:
    16.3967 %
5. Is the 3 month average Series Adjusted Portfolio Yield more than the 3 month average Base Rate?
  Yes  

- 101 -


 

Series 2006-3 Certificates
                         
            Total Investor        
A. Investor/Transferor Allocations   Series Allocations     Interest     Transferors’ Interest  
Beginning Invested Amount/Transferor Amount
    767,338,722.73       600,000,000.00       167,338,722.73  
Beginning Adjusted Invested Amount
    N/A       600,000,000.00       N/A  
Floating Allocation Percentage
    N/A       78.1923 %     21.8077 %
Principal Allocation Percentage
    N/A       78.1923 %     21.8077 %
Collections of Finance Charge Receivables
    12,853,166.58       10,050,189.99       2,802,976.59  
Collections of Principal Receivables
    182,537,805.87       142,730,557.29       39,807,248.58  
Defaulted Amount
    3,344,478.96       2,615,125.91       729,353.05  
 
                       
Ending Invested Amount / Transferor Amount
    765,536,217.60       600,000,000.00       165,536,217.60  
                                 
B. Monthly Period Funding Requirements   Class A     Class B     Collateral Interest     Total  
Principal Funding Account Balance
    0.00       0.00       0.00       0.00  
Investment Proceeds for Monthly Period
    0.00       0.00       0.00       0.00  
Reserve Account Opening Balance
    0.00       0.00       0.00       0.00  
Reserve Account Deposit
    0.00       0.00       0.00       0.00  
Reserve Draw Amount
    0.00       0.00       0.00       0.00  
Reserve Account Surplus
    0.00       0.00       0.00       0.00  
Reserve Account Closing Balance
    0.00       0.00       0.00       0.00  
 
                               
LIBOR Determination Date
  April 11, 2008     April 11, 2008     April 11, 2008          
Coupon April 15, 2008 - May 14, 2008
    2.7359 %     2.8359 %     2.9959 %        
Monthly Interest Due
    1,142,254.95       106,347.75       134,817.30       1,383,420.00  
Outstanding Monthly Interest Due
    0.00       0.00       0.00       0.00  
Additional Interest Due
    0.00       0.00       0.00       0.00  
Total Interest Due
    1,142,254.95       106,347.75       134,817.30       1,383,420.00  
Investor Default Amount
    2,183,630.13       196,134.44       235,361.33       2,615,125.91  
Investor Monthly Fees Due
    835,000.00       75,000.00       90,000.00       1,000,000.00  
Investor Additional Amounts Due
    0.00       0.00       0.00       0.00  
Total Due
    4,160,885.08       377,482.19       460,178.63       4,998,545.90  
 
                               
Reallocated Investor Finance Charge Collections
                            9,898,948.42  
Interest and Principal Funding Investment Proceeds
                            0.00  
Interest on Reserve Account
                            0.00  
Series Adjusted Portfolio Yield
                            14.7700 %
Base Rate
                            4.8330 %
Excess Spread Percentage
                            9.8008 %
                                 
C. Certificates - Balances and Distributions   Class A     Class B     Collateral Interest     Total  
Beginning Certificates Balance
    501,000,000.00       45,000,000.00       54,000,000.00       600,000,000.00  
Distributions of Interest
    1,142,254.95       106,347.75       134,817.30       1,383,420.00  
Deposits to the Principal Funding Account
    0.00       0.00       0.00       0.00  
Distributions of Principal
    0.00       0.00       0.00       0.00  
Total Distributions
    1,142,254.95       106,347.75       134,817.30       1,383,420.00  
Ending Certificates Balance
    501,000,000.00       45,000,000.00       54,000,000.00       600,000,000.00  

- 102 -


 

         
D. Information regarding distributions on the Distribution Date in respect of the Class A Certificates per $1,000 original certificate principal amount.
       
 
       
1. The total amount of the distribution:
  $ 2.28  
2. The amount of the distribution in respect of Class A Monthly Interest:
  $ 2.28  
3. The amount of the distribution in respect of Class A Outstanding Monthly Interest:
  $ 0.00  
4. The amount of the distribution in respect of Class A Additional Interest:
  $ 0.00  
5. The amount of the distribution in respect of principal of the Class A Certificates:
  $ 0.00  
 
       
E. Class A Investor Charge-Offs and Reimbursement of Class A Investor Charge-Offs.
       
 
       
1. The total amount of Class A Investor Charge-Offs:
  $ 0.00  
2. The amount of Class A Investor Charge- Offs per $1,000 original certificate principal amount:
  $ 0.00  
3. The total amount reimbursed in respect of Class A Investor Charge-Offs:
  $ 0.00  
4. The amount reimbursed in respect of Class A Investor Charge-Offs per $1,000 original certificate principal amount:
  $ 0.00  
5. The amount, if any, by which the outstanding principal balance of the Class A Certificates exceeds the Class A Invested Amount after giving effect to all transactions on such Distribution Date:
  $ 0.00  
 
       
F. Information regarding distributions in respect of the Class B Certificates, per $1,000 original certificate principal amount.
       
 
       
1. The total amount of the distribution in respect of Class B Certificates:
  $ 2.36  
2. The amount of the distribution in respect of Class B Monthly Interest:
  $ 2.36  
3. The amount of the distribution in respect of Class B Outstanding Monthly Interest:
  $ 0.00  
4. The amount of the distribution in respect of Class B Additional Interest:
  $ 0.00  
5. The amount of the distribution in respect of principal of the Class B Certificates:
  $ 0.00  

- 103 -


 

         
G. Amount of reductions in Class B Invested Amount pursuant to clauses (c), (d), and (e) of the definition of Class B Invested Amount on such Distribution Date.
       
 
       
1. The amount of reductions in Class B Invested Amount pursuant to clauses (c), (d), and (e) of the definition of Class B Invested Amount:
  $ 0.00  
2. The amount of reductions in the Class B Invested Amount, per $1,000 original certificate principal amount:
  $ 0.00  
3. The total amount reimbursed in respect of such reductions in the Class B Invested Amount:
  $ 0.00  
4. The amount reimbursed in respect of such reductions in the Class B Invested Amount, per $1,000 original certificate principal amount:
  $ 0.00  
5. The amount, if any, by which the outstanding principal balance of the Class B Certificates exceeds the Class B Invested Amount after giving effect to all transactions on such Distribution Date:
  $ 0.00  
 
       
H. Information regarding distributions on the Distribution Date to the Collateral Interest Holder.
       
 
       
1. The total amount distributed to the Collateral Interest Holder:
  $ 5,035,219.82  
2. The amount of the distribution in respect of Collateral Minimum Monthly Interest:
  $ 134,817.30  
3. The amount of the distribution in respect of Collateral Additional Interest:
  $ 0.00  
4. The amount distributed to the Collateral Interest Holder in respect of principal on the Collateral Invested Amount:
  $ 0.00  
5. The amount distributed to the Collateral Interest Holder in respect of remaining Excess Spread:
  $ 4,900,402.52  

- 104 -


 

         
I. Amount of reductions in Collateral Invested Amount pursuant to clauses (c), (d), and (e) of the definition of Collateral Invested Amount.
       
 
       
1. The amount of reductions in the Collateral Invested Amount pursuant to clauses (c), (d), and (e) of the definition of Collateral Invested Amount:
  $ 0.00  
2. The total amount reimbursed in respect of such reductions in the Collateral Invested Amount:
  $ 0.00  
 
       
J. Application of Reallocated Investor Finance Charge Collections.
       
 
       
1. Class A Available Funds:
  $ 8,265,621.93  
a. Class A Monthly Interest:
  $ 1,142,254.95  
b. Class A Outstanding Monthly Interest:
  $ 0.00  
c. Class A Additional Interest:
  $ 0.00  
d. Class A Investor Default Amount (treated as Available Principal Collections):
  $ 2,183,630.13  
e. Excess Spread:
  $ 4,939,736.85  
2. Class B Available Funds:
  $ 742,421.13  
a. Class B Monthly Interest:
  $ 106,347.75  
b. Class B Outstanding Monthly Interest:
  $ 0.00  
c. Class B Additional Interest:
  $ 0.00  
d. Excess Spread:
  $ 636,073.38  
3. Collateral Available Funds:
  $ 890,905.36  
a. Excess Spread:
  $ 890,905.36  
4. Total Excess Spread:
  $ 6,466,715.59  

- 105 -


 

         
K. Reallocated Principal Collections.
       
 
       
1. Principal Allocation Percentage:
    78.1923 %
2. Series 2006-3 Allocable Principal Collections:
  $ 182,537,805.87  
3. Principal Allocation Percentage of Series 2006-3 Allocable Principal Collections:
  $ 142,730,557.29  
4. Reallocated Principal Collections Required to fund the Required Amount:
  $ 0.00  
5. Item 3 minus item 4:
  $ 142,730,557.29  
6. Shared Principal Collections from other Series allocated to Series 2006-3:
  $ 0.00  
7. Other amounts treated as Available Principal Collections:
  $ 2,615,125.90  
8. Available Principal Collections (total of items 5., 6. & 7.):
  $ 145,345,683.19  
 
       
L. Application of Available Principal Collections during Revolving Period.
       
 
       
1. Collateral Invested Amount:
  $ 54,000,000.00  
2. Required Collateral Invested Amount:
  $ 54,000,000.00  
3. Excess of Collateral Invested Amount over Required Collateral Invested Amount:
  $ 0.00  
4. Treated as Shared Principal Collections:
  $ 145,345,683.19  
 
       
M. Application of Principal Collections During Accumulation or Amortization Period.
       
 
       
1. Principal Funding Account:
  $ 0.00  
2. Excess of Collateral Invested Amount over Required Collateral Invested Amount:
  $ 0.00  
3. Distribution of Principal:
  $ 0.00  
4. Treated as Shared Principal Collections:
  $ 0.00  

- 106 -


 

         
N. Application of Excess Spread and Excess Finance Charge Collections Allocated to Series 2006-3.
       
 
       
1. Excess Spread:
  $ 6,466,715.59  
2. Excess Finance Charge Collections:
  $ 0.00  
3. Applied to fund Class A Required Amount:
  $ 0.00  
4. Class A Investor Charge-Offs treated as Available Principal Collections:
  $ 0.00  
5. Applied to fund overdue Class B Interest:
  $ 0.00  
6. Applied to fund Class B Required Amount:
  $ 196,134.44  
7. Reduction of Class B Invested Amount treated as Available Principal Collections:
  $ 0.00  
8. Applied to Collateral Minimum Monthly Interest:
  $ 134,817.30  
9. Applied to unpaid Monthly Servicing Fee:
  $ 1,000,000.00  
10. Collateral Default Amount treated as Available Principal Collections:
  $ 235,361.33  
11. Reduction of Collateral Invested Amount treated as Available Principal Collections:
  $ 0.00  
12. Deposited to Reserve Account:
  $ 0.00  
13. Remaining Excess Spread distributed to Collateral Interest Holder:
  $ 4,900,402.52  
 
       
O. Yield and Base Rate.
       
 
       
1. Base Rate:
       
a. Current Monthly Period:
    4.8330 %
b. Prior Monthly Period:
    5.0059 %
c. Second Prior Monthly Period:
    5.1786 %
2. Three Month Average Base Rate:
    5.0059 %
3. Series Adjusted Portfolio Yield:
       
a. Current Monthly Period:
    14.7700 %
b. Prior Monthly Period:
    15.9179 %
c. Second Prior Monthly Period:
    16.0123 %
4. Three Month Average Series Adjusted Portfolio Yield:
    15.5667 %
5. Is the 3 month average Series Adjusted Portfolio Yield more than the 3 month average Base Rate?
  Yes  

- 107 -


 

Series 2006-A Certificates
                         
            Total Investor        
A. Investor/Transferor Allocations   Series Allocations     Interest     Transferors’ Interest  
Beginning Invested Amount/Transferor Amount
    895,228,509.85       700,000,000.00       195,228,509.85  
Beginning Adjusted Invested Amount
    N/A       700,000,000.00       N/A  
Floating Allocation Percentage
    N/A       78.1923 %     21.8077 %
Principal Allocation Percentage
    N/A       78.1923 %     21.8077 %
Collections of Finance Charge Receivables
    14,995,361.01       11,725,221.65       3,270,139.36  
Collections of Principal Receivables
    212,960,773.52       166,518,983.50       46,441,790.02  
Defaulted Amount
    3,901,892.12       3,050,980.23       850,911.89  
 
                       
Ending Invested Amount / Transferor Amount
    893,125,587.20       700,000,000.00       193,125,587.20  
                                 
B. Monthly Period Funding Requirements   Class A     Class B     Collateral Interest     Total  
Principal Funding Account Balance
    0.00       0.00       0.00       0.00  
Investment Proceeds for Monthly Period
    0.00       0.00       0.00       0.00  
Reserve Account Opening Balance
    0.00       0.00       0.00       0.00  
Reserve Account Deposit
    0.00       0.00       0.00       0.00  
Reserve Draw Amount
    0.00       0.00       0.00       0.00  
Reserve Account Surplus
    0.00       0.00       0.00       0.00  
Reserve Account Closing Balance
    0.00       0.00       0.00       0.00  
 
                               
LIBOR Determination Date
  April 11, 2008     April 11, 2008     April 11, 2008          
Coupon April 15, 2008 - May 14, 2008
    2.7059 %     2.8259 %     2.9459 %        
Monthly Interest Due
    1,318,018.28       123,634.88       154,661.85       1,596,315.01  
Outstanding Monthly Interest Due
    0.00       0.00       0.00       0.00  
Additional Interest Due
    0.00       0.00       0.00       0.00  
Total Interest Due
    1,318,018.28       123,634.88       154,661.85       1,596,315.01  
Investor Default Amount
    2,547,568.49       228,823.52       274,588.22       3,050,980.23  
Investor Monthly Fees Due
    974,166.67       87,500.00       105,000.00       1,166,666.67  
Investor Additional Amounts Due
    0.00       0.00       0.00       0.00  
Total Due
    4,839,753.44       439,958.40       534,250.07       5,813,961.91  
 
                               
Reallocated Investor Finance Charge Collections
                            11,531,098.18  
Interest and Principal Funding Investment Proceeds
                            0.00  
Interest on Reserve Account
                            0.00  
Series Adjusted Portfolio Yield
                            14.7393 %
Base Rate
                            4.8023 %
Excess Spread Percentage
                            9.8008 %
                                 
C. Certificates - Balances and Distributions   Class A     Class B     Collateral Interest     Total  
Beginning Certificates Balance
    584,500,000.00       52,500,000.00       63,000,000.00       700,000,000.00  
Distributions of Interest
    1,318,018.28       123,634.88       154,661.85       1,596,315.01  
Deposits to the Principal Funding Account
    0.00       0.00       0.00       0.00  
Distributions of Principal
    0.00       0.00       0.00       0.00  
Total Distributions
    1,318,018.28       123,634.88       154,661.85       1,596,315.01  
Ending Certificates Balance
    584,500,000.00       52,500,000.00       63,000,000.00       700,000,000.00  

- 108 -


 

         
D. Information regarding distributions on the Distribution Date in respect of the Class A Certificates per $1,000 original certificate principal amount.
       
 
       
1. The total amount of the distribution:
  $ 2.25  
2. The amount of the distribution in respect of Class A Monthly Interest:
  $ 2.25  
3. The amount of the distribution in respect of Class A Outstanding Monthly Interest:
  $ 0.00  
4. The amount of the distribution in respect of Class A Additional Interest:
  $ 0.00  
5. The amount of the distribution in respect of principal of the Class A Certificates:
  $ 0.00  
 
       
E. Class A Investor Charge-Offs and Reimbursement of Class A Investor Charge-Offs.
       
 
       
1. The total amount of Class A Investor Charge-Offs:
  $ 0.00  
2. The amount of Class A Investor Charge- Offs per $1,000 original certificate principal amount:
  $ 0.00  
3. The total amount reimbursed in respect of Class A Investor Charge-Offs:
  $ 0.00  
4. The amount reimbursed in respect of Class A Investor Charge-Offs per $1,000 original certificate principal amount:
  $ 0.00  
5. The amount, if any, by which the outstanding principal balance of the Class A Certificates exceeds the Class A Invested Amount after giving effect to all transactions on such Distribution Date:
  $ 0.00  
 
       
F. Information regarding distributions in respect of the Class B Certificates, per $1,000 original certificate principal amount.
       
 
       
1. The total amount of the distribution in respect of Class B Certificates:
  $ 2.35  
2. The amount of the distribution in respect of Class B Monthly Interest:
  $ 2.35  
3. The amount of the distribution in respect of Class B Outstanding Monthly Interest:
  $ 0.00  
4. The amount of the distribution in respect of Class B Additional Interest:
  $ 0.00  
5. The amount of the distribution in respect of principal of the Class B Certificates:
  $ 0.00  

- 109 -


 

         
G. Amount of reductions in Class B Invested Amount pursuant to clauses (c), (d), and (e) of the definition of Class B Invested Amount on such Distribution Date.
       
 
       
1. The amount of reductions in Class B Invested Amount pursuant to clauses (c), (d), and (e) of the definition of Class B Invested Amount:
  $ 0.00  
2. The amount of reductions in the Class B Invested Amount, per $1,000 original certificate principal amount:
  $ 0.00  
3. The total amount reimbursed in respect of such reductions in the Class B Invested Amount:
  $ 0.00  
4. The amount reimbursed in respect of such reductions in the Class B Invested Amount, per $1,000 original certificate principal amount:
  $ 0.00  
5. The amount, if any, by which the outstanding principal balance of the Class B Certificates exceeds the Class B Invested Amount after giving effect to all transactions on such Distribution Date:
  $ 0.00  
 
       
H. Information regarding distributions on the Distribution Date to the Collateral Interest Holder.
       
 
       
1. The total amount distributed to the Collateral Interest Holder:
  $ 5,871,798.12  
2. The amount of the distribution in respect of Collateral Minimum Monthly Interest:
  $ 154,661.85  
3. The amount of the distribution in respect of Collateral Additional Interest:
  $ 0.00  
4. The amount distributed to the Collateral Interest Holder in respect of principal on the Collateral Invested Amount:
  $ 0.00  
5. The amount distributed to the Collateral Interest Holder in respect of remaining Excess Spread:
  $ 5,717,136.27  

- 110 -


 

         
I. Amount of reductions in Collateral Invested Amount pursuant to clauses (c), (d), and (e) of the definition of Collateral Invested Amount.
       
 
       
1. The amount of reductions in the Collateral Invested Amount pursuant to clauses (c), (d), and (e) of the definition of Collateral Invested Amount:
  $ 0.00  
2. The total amount reimbursed in respect of such reductions in the Collateral Invested Amount:
  $ 0.00  
 
       
J. Application of Reallocated Investor Finance Charge Collections.
       
 
       
1. Class A Available Funds:
  $ 9,628,466.98  
a. Class A Monthly Interest:
  $ 1,318,018.28  
b. Class A Outstanding Monthly Interest:
  $ 0.00  
c. Class A Additional Interest:
  $ 0.00  
d. Class A Investor Default Amount (treated as Available Principal Collections):
  $ 2,547,568.49  
e. Excess Spread:
  $ 5,762,880.21  
2. Class B Available Funds:
  $ 864,832.36  
a. Class B Monthly Interest:
  $ 123,634.88  
b. Class B Outstanding Monthly Interest:
  $ 0.00  
c. Class B Additional Interest:
  $ 0.00  
d. Excess Spread:
  $ 741,197.48  
3. Collateral Available Funds:
  $ 1,037,798.84  
a. Excess Spread:
  $ 1,037,798.84  
4. Total Excess Spread:
  $ 7,541,876.53  

- 111 -


 

         
K. Reallocated Principal Collections.
       
 
       
1. Principal Allocation Percentage:
    78.1923 %
2. Series 2006-A Allocable Principal Collections:
  $ 212,960,773.52  
3. Principal Allocation Percentage of Series 2006-A Allocable Principal Collections:
  $ 166,518,983.50  
4. Reallocated Principal Collections Required to fund the Required Amount:
  $ 0.00  
5. Item 3 minus item 4:
  $ 166,518,983.50  
6. Shared Principal Collections from other Series allocated to Series 2006-A:
  $ 0.00  
7. Other amounts treated as Available Principal Collections:
  $ 3,050,980.23  
8. Available Principal Collections (total of items 5., 6. & 7.):
  $ 169,569,963.73  
 
       
L. Application of Available Principal Collections during Revolving Period.
       
 
       
1. Collateral Invested Amount:
  $ 63,000,000.00  
2. Required Collateral Invested Amount:
  $ 63,000,000.00  
3. Excess of Collateral Invested Amount over Required Collateral Invested Amount:
  $ 0.00  
4. Treated as Shared Principal Collections:
  $ 169,569,963.73  
 
       
M. Application of Principal Collections During Accumulation or Amortization Period.
       
 
       
1. Principal Funding Account:
  $ 0.00  
2. Excess of Collateral Invested Amount over Required Collateral Invested Amount:
  $ 0.00  
3. Distribution of Principal:
  $ 0.00  
4. Treated as Shared Principal Collections:
  $ 0.00  

- 112 -


 

         
N. Application of Excess Spread and Excess Finance Charge Collections Allocated to Series 2006-A.
       
 
       
1. Excess Spread:
  $ 7,541,876.53  
2. Excess Finance Charge Collections:
  $ 0.00  
3. Applied to fund Class A Required Amount:
  $ 0.00  
4. Class A Investor Charge-Offs treated as Available Principal Collections:
  $ 0.00  
5. Applied to fund overdue Class B Interest:
  $ 0.00  
6. Applied to fund Class B Required Amount:
  $ 228,823.52  
7. Reduction of Class B Invested Amount treated as Available Principal Collections:
  $ 0.00  
8. Applied to Collateral Minimum Monthly Interest:
  $ 154,661.85  
9. Applied to unpaid Monthly Servicing Fee:
  $ 1,166,666.67  
10. Collateral Default Amount treated as Available Principal Collections:
  $ 274,588.22  
11. Reduction of Collateral Invested Amount treated as Available Principal Collections:
  $ 0.00  
12. Deposited to Reserve Account:
  $ 0.00  
13. Remaining Excess Spread distributed to Collateral Interest Holder:
  $ 5,717,136.27  
 
       
O. Yield and Base Rate.
       
 
       
1. Base Rate:
       
a. Current Monthly Period:
    4.8023 %
b. Prior Monthly Period:
    4.9752 %
c. Second Prior Monthly Period:
    5.1479 %
2. Three Month Average Base Rate:
    4.9751 %
3. Series Adjusted Portfolio Yield:
       
a. Current Monthly Period:
    14.7393 %
b. Prior Monthly Period:
    15.8882 %
c. Second Prior Monthly Period:
    15.9805 %
4. Three Month Average Series Adjusted Portfolio Yield:
    15.5360 %
5. Is the 3 month average Series Adjusted Portfolio Yield more than the 3 month average Base Rate?
  Yes  

- 113 -


 

Series 2006-B Certificates
                         
            Total Investor        
A. Investor/Transferor Allocations   Series Allocations     Interest     Transferors’ Interest  
Beginning Invested Amount/Transferor Amount
    895,228,509.85       700,000,000.00       195,228,509.85  
Beginning Adjusted Invested Amount
    N/A       700,000,000.00       N/A  
Floating Allocation Percentage
    N/A       78.1923 %     21.8077 %
Principal Allocation Percentage
    N/A       78.1923 %     21.8077 %
Collections of Finance Charge Receivables
    14,995,361.01       11,725,221.65       3,270,139.36  
Collections of Principal Receivables
    212,960,773.52       166,518,983.50       46,441,790.02  
Defaulted Amount
    3,901,892.12       3,050,980.23       850,911.89  
 
                       
Ending Invested Amount / Transferor Amount
    893,125,587.20       700,000,000.00       193,125,587.20  
                                 
B. Monthly Period Funding Requirements   Class A     Class B     Collateral Interest     Total  
Principal Funding Account Balance
    0.00       0.00       0.00       0.00  
Investment Proceeds for Monthly Period
    0.00       0.00       0.00       0.00  
Reserve Account Opening Balance
    0.00       0.00       0.00       0.00  
Reserve Account Deposit
    0.00       0.00       0.00       0.00  
Reserve Draw Amount
    0.00       0.00       0.00       0.00  
Reserve Account Surplus
    0.00       0.00       0.00       0.00  
Reserve Account Closing Balance
    0.00       0.00       0.00       0.00  
 
                               
LIBOR Determination Date
  April 11, 2008     April 11, 2008     April 11, 2008          
Coupon April 15, 2008 - May 14, 2008
    2.7559 %     2.8659 %     3.0059 %        
Monthly Interest Due
    1,342,372.44       125,384.88       157,811.85       1,625,569.17  
Outstanding Monthly Interest Due
    0.00       0.00       0.00       0.00  
Additional Interest Due
    0.00       0.00       0.00       0.00  
Total Interest Due
    1,342,372.44       125,384.88       157,811.85       1,625,569.17  
Investor Default Amount
    2,547,568.49       228,823.52       274,588.22       3,050,980.23  
Investor Monthly Fees Due
    974,166.67       87,500.00       105,000.00       1,166,666.67  
Investor Additional Amounts Due
    0.00       0.00       0.00       0.00  
Total Due
    4,864,107.60       441,708.40       537,400.07       5,843,216.07  
 
                               
Reallocated Investor Finance Charge Collections
                            11,560,352.34  
Interest and Principal Funding Investment Proceeds
                            0.00  
Interest on Reserve Account
                            0.00  
Series Adjusted Portfolio Yield
                            14.7901 %
Base Rate
                            4.8532 %
Excess Spread Percentage
                            9.8008 %
                                 
C. Certificates - Balances and Distributions   Class A     Class B     Collateral Interest     Total  
Beginning Certificates Balance
    584,500,000.00       52,500,000.00       63,000,000.00       700,000,000.00  
Distributions of Interest
    1,342,372.44       125,384.88       157,811.85       1,625,569.17  
Deposits to the Principal Funding Account
    0.00       0.00       0.00       0.00  
Distributions of Principal
    0.00       0.00       0.00       0.00  
Total Distributions
    1,342,372.44       125,384.88       157,811.85       1,625,569.17  
Ending Certificates Balance
    584,500,000.00       52,500,000.00       63,000,000.00       700,000,000.00  

- 114 -


 

         
D. Information regarding distributions on the Distribution Date in respect of the Class A Certificates per $1,000 original certificate principal amount.
       
 
       
1. The total amount of the distribution:
  $ 2.30  
2. The amount of the distribution in respect of Class A Monthly Interest:
  $ 2.30  
3. The amount of the distribution in respect of Class A Outstanding Monthly Interest:
  $ 0.00  
4. The amount of the distribution in respect of Class A Additional Interest:
  $ 0.00  
5. The amount of the distribution in respect of principal of the Class A Certificates:
  $ 0.00  
 
       
E. Class A Investor Charge-Offs and Reimbursement of Class A Investor Charge-Offs.
       
 
       
1. The total amount of Class A Investor Charge-Offs:
  $ 0.00  
2. The amount of Class A Investor Charge- Offs per $1,000 original certificate principal amount:
  $ 0.00  
3. The total amount reimbursed in respect of Class A Investor Charge-Offs:
  $ 0.00  
4. The amount reimbursed in respect of Class A Investor Charge-Offs per $1,000 original certificate principal amount:
  $ 0.00  
5. The amount, if any, by which the outstanding principal balance of the Class A Certificates exceeds the Class A Invested Amount after giving effect to all transactions on such Distribution Date:
  $ 0.00  
 
       
F. Information regarding distributions in respect of the Class B Certificates, per $1,000 original certificate principal amount.
       
 
       
1. The total amount of the distribution in respect of Class B Certificates:
  $ 2.39  
2. The amount of the distribution in respect of Class B Monthly Interest:
  $ 2.39  
3. The amount of the distribution in respect of Class B Outstanding Monthly Interest:
  $ 0.00  
4. The amount of the distribution in respect of Class B Additional Interest:
  $ 0.00  
5. The amount of the distribution in respect of principal of the Class B Certificates:
  $ 0.00  

- 115 -


 

         
G. Amount of reductions in Class B Invested Amount pursuant to clauses (c), (d), and (e) of the definition of Class B Invested Amount on such Distribution Date.
       
 
       
1. The amount of reductions in Class B Invested Amount pursuant to clauses (c), (d), and (e) of the definition of Class B Invested Amount:
  $ 0.00  
2. The amount of reductions in the Class B Invested Amount, per $1,000 original certificate principal amount:
  $ 0.00  
3. The total amount reimbursed in respect of such reductions in the Class B Invested Amount:
  $ 0.00  
4. The amount reimbursed in respect of such reductions in the Class B Invested Amount, per $1,000 original certificate principal amount:
  $ 0.00  
5. The amount, if any, by which the outstanding principal balance of the Class B Certificates exceeds the Class B Invested Amount after giving effect to all transactions on such Distribution Date:
  $ 0.00  
 
       
H. Information regarding distributions on the Distribution Date to the Collateral Interest Holder.
       
 
       
1. The total amount distributed to the Collateral Interest Holder:
  $ 5,874,948.12  
2. The amount of the distribution in respect of Collateral Minimum Monthly Interest:
  $ 157,811.85  
3. The amount of the distribution in respect of Collateral Additional Interest:
  $ 0.00  
4. The amount distributed to the Collateral Interest Holder in respect of principal on the Collateral Invested Amount:
  $ 0.00  
5. The amount distributed to the Collateral Interest Holder in respect of remaining Excess Spread:
  $ 5,717,136.27  

- 116 -


 

         
I. Amount of reductions in Collateral Invested Amount pursuant to clauses (c), (d), and (e) of the definition of Collateral Invested Amount.
       
 
       
1. The amount of reductions in the Collateral Invested Amount pursuant to clauses (c), (d), and (e) of the definition of Collateral Invested Amount:
  $ 0.00  
2. The total amount reimbursed in respect of such reductions in the Collateral Invested Amount:
  $ 0.00  
 
       
J. Application of Reallocated Investor Finance Charge Collections.
       
 
       
1. Class A Available Funds:
  $ 9,652,894.20  
a. Class A Monthly Interest:
  $ 1,342,372.44  
b. Class A Outstanding Monthly Interest:
  $ 0.00  
c. Class A Additional Interest:
  $ 0.00  
d. Class A Investor Default Amount (treated as Available Principal Collections):
  $ 2,547,568.49  
e. Excess Spread:
  $ 5,762,953.27  
2. Class B Available Funds:
  $ 867,026.43  
a. Class B Monthly Interest:
  $ 125,384.88  
b. Class B Outstanding Monthly Interest:
  $ 0.00  
c. Class B Additional Interest:
  $ 0.00  
d. Excess Spread:
  $ 741,641.55  
3. Collateral Available Funds:
  $ 1,040,431.71  
a. Excess Spread:
  $ 1,040,431.71  
4. Total Excess Spread:
  $ 7,545,026.53  

- 117 -


 

         
K. Reallocated Principal Collections.
       
 
       
1. Principal Allocation Percentage:
    78.1923 %
2. Series 2006-B Allocable Principal Collections:
  $ 212,960,773.52  
3. Principal Allocation Percentage of Series 2006-B Allocable Principal Collections:
  $ 166,518,983.50  
4. Reallocated Principal Collections Required to fund the Required Amount:
  $ 0.00  
5. Item 3 minus item 4:
  $ 166,518,983.50  
6. Shared Principal Collections from other Series allocated to Series 2006-B:
  $ 0.00  
7. Other amounts treated as Available Principal Collections:
  $ 3,050,980.23  
8. Available Principal Collections (total of items 5., 6. & 7.):
  $ 169,569,963.73  
 
       
L. Application of Available Principal Collections during Revolving Period.
       
 
       
1. Collateral Invested Amount:
  $ 63,000,000.00  
2. Required Collateral Invested Amount:
  $ 63,000,000.00  
3. Excess of Collateral Invested Amount over Required Collateral Invested Amount:
  $ 0.00  
4. Treated as Shared Principal Collections:
  $ 169,569,963.73  
 
       
M. Application of Principal Collections During Accumulation or Amortization Period.
       
 
       
1. Principal Funding Account:
  $ 0.00  
2. Excess of Collateral Invested Amount over Required Collateral Invested Amount:
  $ 0.00  
3. Distribution of Principal:
  $ 0.00  
4. Treated as Shared Principal Collections:
  $ 0.00  

- 118 -


 

         
N. Application of Excess Spread and Excess Finance Charge Collections Allocated to Series 2006-B.
       
 
       
1. Excess Spread:
  $ 7,545,026.53  
2. Excess Finance Charge Collections:
  $ 0.00  
3. Applied to fund Class A Required Amount:
  $ 0.00  
4. Class A Investor Charge-Offs treated as Available Principal Collections:
  $ 0.00  
5. Applied to fund overdue Class B Interest:
  $ 0.00  
6. Applied to fund Class B Required Amount:
  $ 228,823.52  
7. Reduction of Class B Invested Amount treated as Available Principal Collections:
  $ 0.00  
8. Applied to Collateral Minimum Monthly Interest:
  $ 157,811.85  
9. Applied to unpaid Monthly Servicing Fee:
  $ 1,166,666.67  
10. Collateral Default Amount treated as Available Principal Collections:
  $ 274,588.22  
11. Reduction of Collateral Invested Amount treated as Available Principal Collections:
  $ 0.00  
12. Deposited to Reserve Account:
  $ 0.00  
13. Remaining Excess Spread distributed to Collateral Interest Holder:
  $ 5,717,136.27  
 
       
O. Yield and Base Rate.
       
 
       
1. Base Rate:
       
a. Current Monthly Period:
    4.8532 %
b. Prior Monthly Period:
    5.0261 %
c. Second Prior Monthly Period:
    5.1987 %
2. Three Month Average Base Rate:
    5.0260 %
3. Series Adjusted Portfolio Yield:
       
a. Current Monthly Period:
    14.7901 %
b. Prior Monthly Period:
    15.9373 %
c. Second Prior Monthly Period:
    16.0331 %
4. Three Month Average Series Adjusted Portfolio Yield:
    15.5868 %
5. Is the 3 month average Series Adjusted Portfolio Yield more than the 3 month average Base Rate?
  Yes  

- 119 -


 

Series 2007-1 Certificates
                         
            Total Investor        
A. Investor/Transferor Allocations   Series Allocations     Interest     Transferors’ Interest  
Beginning Invested Amount/Transferor Amount
    639,448,935.60       500,000,000.00       139,448,935.60  
Beginning Adjusted Invested Amount
    N/A       500,000,000.00       N/A  
Floating Allocation Percentage
    N/A       78.1923 %     21.8077 %
Principal Allocation Percentage
    N/A       78.1923 %     21.8077 %
Collections of Finance Charge Receivables
    10,710,972.15       8,375,158.32       2,335,813.83  
Collections of Principal Receivables
    152,114,838.23       118,942,131.08       33,172,707.15  
Defaulted Amount
    2,787,065.80       2,179,271.59       607,794.21  
 
                       
Ending Invested Amount / Transferor Amount
    637,946,848.00       500,000,000.00       137,946,848.00  
                                 
B. Monthly Period Funding Requirements   Class A     Class B     Collateral Interest     Total  
Principal Funding Account Balance
    0.00       0.00       0.00       0.00  
Investment Proceeds for Monthly Period
    0.00       0.00       0.00       0.00  
Reserve Account Opening Balance
    0.00       0.00       0.00       0.00  
Reserve Account Deposit
    0.00       0.00       0.00       0.00  
Reserve Draw Amount
    0.00       0.00       0.00       0.00  
Reserve Account Surplus
    0.00       0.00       0.00       0.00  
Reserve Account Closing Balance
    0.00       0.00       0.00       0.00  
 
                               
LIBOR Determination Date
  April 11, 2008     April 11, 2008     April 11, 2008          
Coupon April 15, 2008 - May 14, 2008
    2.7359 %     2.8259 %     2.9859 %        
Monthly Interest Due
    1,003,178.00       64,761.13       80,869.21       1,148,808.34  
Outstanding Monthly Interest Due
    0.00       0.00       0.00       0.00  
Additional Interest Due
    0.00       0.00       0.00       0.00  
Total Interest Due
    1,003,178.00       64,761.13       80,869.21       1,148,808.34  
Investor Default Amount
    1,917,759.00       119,859.94       141,652.65       2,179,271.59  
Investor Monthly Fees Due
    733,333.33       45,833.33       54,166.67       833,333.33  
Investor Additional Amounts Due
    0.00       0.00       0.00       0.00  
Total Due
    3,654,270.33       230,454.40       276,688.53       4,161,413.26  
 
                               
Reallocated Investor Finance Charge Collections
                            8,245,082.02  
Interest and Principal Funding Investment Proceeds
                            0.00  
Interest on Reserve Account
                            0.00  
Series Adjusted Portfolio Yield
                            14.7601 %
Base Rate
                            4.8232 %
Excess Spread Percentage
                            9.8008 %
                                 
C. Certificates - Balances and Distributions   Class A     Class B     Collateral Interest     Total  
Beginning Certificates Balance
    440,000,000.00       27,500,000.00       32,500,000.00       500,000,000.00  
Distributions of Interest
    1,003,178.00       64,761.13       80,869.21       1,148,808.34  
Deposits to the Principal Funding Account
    0.00       0.00       0.00       0.00  
Distributions of Principal
    0.00       0.00       0.00       0.00  
Total Distributions
    1,003,178.00       64,761.13       80,869.21       1,148,808.34  
Ending Certificates Balance
    440,000,000.00       27,500,000.00       32,500,000.00       500,000,000.00  

- 120 -


 

         
D. Information regarding distributions on the Distribution Date in respect of the Class A Certificates per $1,000 original certificate principal amount.
       
 
       
1. The total amount of the distribution:
  $ 2.28  
2. The amount of the distribution in respect of Class A Monthly Interest:
  $ 2.28  
3. The amount of the distribution in respect of Class A Outstanding Monthly Interest:
  $ 0.00  
4. The amount of the distribution in respect of Class A Additional Interest:
  $ 0.00  
5. The amount of the distribution in respect of principal of the Class A Certificates:
  $ 0.00  
 
       
E. Class A Investor Charge-Offs and Reimbursement of Class A Investor Charge-Offs.
       
 
       
1. The total amount of Class A Investor Charge-Offs:
  $ 0.00  
2. The amount of Class A Investor Charge- Offs per $1,000 original certificate principal amount:
  $ 0.00  
3. The total amount reimbursed in respect of Class A Investor Charge-Offs:
  $ 0.00  
4. The amount reimbursed in respect of Class A Investor Charge-Offs per $1,000 original certificate principal amount:
  $ 0.00  
5. The amount, if any, by which the outstanding principal balance of the Class A Certificates exceeds the Class A Invested Amount after giving effect to all transactions on such Distribution Date:
  $ 0.00  
 
       
F. Information regarding distributions in respect of the Class B Certificates, per $1,000 original certificate principal amount.
       
 
       
1. The total amount of the distribution in respect of Class B Certificates:
  $ 2.35  
2. The amount of the distribution in respect of Class B Monthly Interest:
  $ 2.35  
3. The amount of the distribution in respect of Class B Outstanding Monthly Interest:
  $ 0.00  
4. The amount of the distribution in respect of Class B Additional Interest:
  $ 0.00  
5. The amount of the distribution in respect of principal of the Class B Certificates:
  $ 0.00  

- 121 -


 

         
G. Amount of reductions in Class B Invested Amount pursuant to clauses (c), (d), and (e) of the definition of Class B Invested Amount on such Distribution Date.
       
 
       
1. The amount of reductions in Class B Invested Amount pursuant to clauses (c), (d), and (e) of the definition of Class B Invested Amount:
  $ 0.00  
2. The amount of reductions in the Class B Invested Amount, per $1,000 original certificate principal amount:
  $ 0.00  
3. The total amount reimbursed in respect of such reductions in the Class B Invested Amount:
  $ 0.00  
4. The amount reimbursed in respect of such reductions in the Class B Invested Amount, per $1,000 original certificate principal amount:
  $ 0.00  
5. The amount, if any, by which the outstanding principal balance of the Class B Certificates exceeds the Class B Invested Amount after giving effect to all transactions on such Distribution Date:
  $ 0.00  
 
       
H. Information regarding distributions on the Distribution Date to the Collateral Interest Holder.
       
 
       
1. The total amount distributed to the Collateral Interest Holder:
  $ 4,164,537.97  
2. The amount of the distribution in respect of Collateral Minimum Monthly Interest:
  $ 80,869.21  
3. The amount of the distribution in respect of Collateral Additional Interest:
  $ 0.00  
4. The amount distributed to the Collateral Interest Holder in respect of principal on the Collateral Invested Amount:
  $ 0.00  
5. The amount distributed to the Collateral Interest Holder in respect of remaining Excess Spread:
  $ 4,083,668.76  

- 122 -


 

         
I. Amount of reductions in Collateral Invested Amount pursuant to clauses (c), (d), and (e) of the definition of Collateral Invested Amount.
       
 
       
1. The amount of reductions in the Collateral Invested Amount pursuant to clauses (c), (d), and (e) of the definition of Collateral Invested Amount:
  $ 0.00  
2. The total amount reimbursed in respect of such reductions in the Collateral Invested Amount:
  $ 0.00  
 
       
J. Application of Reallocated Investor Finance Charge Collections.
       
 
       
1. Class A Available Funds:
  $ 7,255,672.18  
a. Class A Monthly Interest:
  $ 1,003,178.00  
b. Class A Outstanding Monthly Interest:
  $ 0.00  
c. Class A Additional Interest:
  $ 0.00  
d. Class A Investor Default Amount (treated as Available Principal Collections):
  $ 1,917,759.00  
e. Excess Spread:
  $ 4,334,735.18  
2. Class B Available Funds:
  $ 453,479.51  
a. Class B Monthly Interest:
  $ 64,761.13  
b. Class B Outstanding Monthly Interest:
  $ 0.00  
c. Class B Additional Interest:
  $ 0.00  
d. Excess Spread:
  $ 388,718.38  
3. Collateral Available Funds:
  $ 535,930.33  
a. Excess Spread:
  $ 535,930.33  
4. Total Excess Spread:
  $ 5,259,383.89  

- 123 -


 

         
K. Reallocated Principal Collections.
       
 
       
1. Principal Allocation Percentage:
    78.1923 %
2. Series 2007-1 Allocable Principal Collections:
  $ 152,114,838.23  
3. Principal Allocation Percentage of Series 2007-1 Allocable Principal Collections:
  $ 118,942,131.08  
4. Reallocated Principal Collections Required to fund the Required Amount:
  $ 0.00  
5. Item 3 minus item 4:
  $ 118,942,131.08  
6. Shared Principal Collections from other Series allocated to Series 2007-1:
  $ 0.00  
7. Other amounts treated as Available Principal Collections:
  $ 2,179,271.59  
8. Available Principal Collections (total of items 5., 6. & 7.):
  $ 121,121,402.67  
 
       
L. Application of Available Principal Collections during Revolving Period.
       
 
       
1. Collateral Invested Amount:
  $ 32,500,000.00  
2. Required Collateral Invested Amount:
  $ 32,500,000.00  
3. Excess of Collateral Invested Amount over Required Collateral Invested Amount:
  $ 0.00  
4. Treated as Shared Principal Collections:
  $ 121,121,402.67  
 
       
M. Application of Principal Collections During Accumulation or Amortization Period.
       
 
       
1. Principal Funding Account:
  $ 0.00  
2. Excess of Collateral Invested Amount over Required Collateral Invested Amount:
  $ 0.00  
3. Distribution of Principal:
  $ 0.00  
4. Treated as Shared Principal Collections:
  $ 0.00  

- 124 -


 

         
N. Application of Excess Spread and Excess Finance Charge Collections Allocated to Series 2007-1.
       
 
       
1. Excess Spread:
  $ 5,259,383.89  
2. Excess Finance Charge Collections:
  $ 0.00  
3. Applied to fund Class A Required Amount:
  $ 0.00  
4. Class A Investor Charge-Offs treated as Available Principal Collections:
  $ 0.00  
5. Applied to fund overdue Class B Interest:
  $ 0.00  
6. Applied to fund Class B Required Amount:
  $ 119,859.94  
7. Reduction of Class B Invested Amount treated as Available Principal Collections:
  $ 0.00  
8. Applied to Collateral Minimum Monthly Interest:
  $ 80,869.21  
9. Applied to unpaid Monthly Servicing Fee:
  $ 833,333.33  
10. Collateral Default Amount treated as Available Principal Collections:
  $ 141,652.65  
11. Reduction of Collateral Invested Amount treated as Available Principal Collections:
  $ 0.00  
12. Deposited to Reserve Account:
  $ 0.00  
13. Remaining Excess Spread distributed to Collateral Interest Holder:
  $ 4,083,668.76  
 
       
O. Yield and Base Rate.
       
 
       
1. Base Rate:
       
a. Current Monthly Period:
    4.8232 %
b. Prior Monthly Period:
    4.9961 %
c. Second Prior Monthly Period:
    5.1687 %
2. Three Month Average Base Rate:
    4.9960 %
3. Series Adjusted Portfolio Yield:
       
a. Current Monthly Period:
    14.7601 %
b. Prior Monthly Period:
    15.9084 %
c. Second Prior Monthly Period:
    16.0021 %
4. Three Month Average Series Adjusted Portfolio Yield:
    15.5569 %
5. Is the 3 month average Series Adjusted Portfolio Yield more than the 3 month average Base Rate?
  Yes  

- 125 -


 

Series 2007-2 Certificates
                         
            Total Investor        
A. Investor/Transferor Allocations   Series Allocations     Interest     Transferors’ Interest  
Beginning Invested Amount/Transferor Amount
    639,448,935.60       500,000,000.00       139,448,935.60  
Beginning Adjusted Invested Amount
    N/A       500,000,000.00       N/A  
Floating Allocation Percentage
    N/A       78.1923 %     21.8077 %
Principal Allocation Percentage
    N/A       78.1923 %     21.8077 %
Collections of Finance Charge Receivables
    10,710,972.15       8,375,158.32       2,335,813.83  
Collections of Principal Receivables
    152,114,838.23       118,942,131.08       33,172,707.15  
Defaulted Amount
    2,787,065.80       2,179,271.59       607,794.21  
 
                       
Ending Invested Amount / Transferor Amount
    637,946,848.00       500,000,000.00       137,946,848.00  
                                 
B. Monthly Period Funding Requirements   Class A     Class B     Collateral Interest     Total  
Principal Funding Account Balance
    0.00       0.00       0.00       0.00  
Investment Proceeds for Monthly Period
    0.00       0.00       0.00       0.00  
Reserve Account Opening Balance
    0.00       0.00       0.00       0.00  
Reserve Account Deposit
    0.00       0.00       0.00       0.00  
Reserve Draw Amount
    0.00       0.00       0.00       0.00  
Reserve Account Surplus
    0.00       0.00       0.00       0.00  
Reserve Account Closing Balance
    0.00       0.00       0.00       0.00  
 
                               
LIBOR Determination Date
  April 11, 2008     April 11, 2008     April 11, 2008          
Coupon April 15, 2008 - May 14, 2008
    2.7659 %     2.8959 %     3.0659 %        
Monthly Interest Due
    1,014,178.00       66,365.29       83,035.88       1,163,579.17  
Outstanding Monthly Interest Due
    0.00       0.00       0.00       0.00  
Additional Interest Due
    0.00       0.00       0.00       0.00  
Total Interest Due
    1,014,178.00       66,365.29       83,035.88       1,163,579.17  
Investor Default Amount
    1,917,759.00       119,859.94       141,652.65       2,179,271.59  
Investor Monthly Fees Due
    733,333.33       45,833.33       54,166.67       833,333.33  
Investor Additional Amounts Due
    0.00       0.00       0.00       0.00  
Total Due
    3,665,270.33       232,058.56       278,855.20       4,176,184.09  
 
                               
Reallocated Investor Finance Charge Collections
                            8,259,852.85  
Interest and Principal Funding Investment Proceeds
                            0.00  
Interest on Reserve Account
                            0.00  
Series Adjusted Portfolio Yield
                            14.7961 %
Base Rate
                            4.8592 %
Excess Spread Percentage
                            9.8008 %
                                 
C. Certificates - Balances and Distributions   Class A     Class B     Collateral Interest     Total  
Beginning Certificates Balance
    440,000,000.00       27,500,000.00       32,500,000.00       500,000,000.00  
Distributions of Interest
    1,014,178.00       66,365.29       83,035.88       1,163,579.17  
Deposits to the Principal Funding Account
    0.00       0.00       0.00       0.00  
Distributions of Principal
    0.00       0.00       0.00       0.00  
Total Distributions
    1,014,178.00       66,365.29       83,035.88       1,163,579.17  
Ending Certificates Balance
    440,000,000.00       27,500,000.00       32,500,000.00       500,000,000.00  

- 126 -


 

         
D. Information regarding distributions on the Distribution Date in respect of the Class A Certificates per $1,000 original certificate principal amount.
       
 
       
1. The total amount of the distribution:
  $ 2.30  
2. The amount of the distribution in respect of Class A Monthly Interest:
  $ 2.30  
3. The amount of the distribution in respect of Class A Outstanding Monthly Interest:
  $ 0.00  
4. The amount of the distribution in respect of Class A Additional Interest:
  $ 0.00  
5. The amount of the distribution in respect of principal of the Class A Certificates:
  $ 0.00  
 
       
E. Class A Investor Charge-Offs and Reimbursement of Class A Investor Charge-Offs.
       
 
       
1. The total amount of Class A Investor Charge-Offs:
  $ 0.00  
2. The amount of Class A Investor Charge- Offs per $1,000 original certificate principal amount:
  $ 0.00  
3. The total amount reimbursed in respect of Class A Investor Charge-Offs:
  $ 0.00  
4. The amount reimbursed in respect of Class A Investor Charge-Offs per $1,000 original certificate principal amount:
  $ 0.00  
5. The amount, if any, by which the outstanding principal balance of the Class A Certificates exceeds the Class A Invested Amount after giving effect to all transactions on such Distribution Date:
  $ 0.00  
 
       
F. Information regarding distributions in respect of the Class B Certificates, per $1,000 original certificate principal amount.
       
 
       
1. The total amount of the distribution in respect of Class B Certificates:
  $ 2.41  
2. The amount of the distribution in respect of Class B Monthly Interest:
  $ 2.41  
3. The amount of the distribution in respect of Class B Outstanding Monthly Interest:
  $ 0.00  
4. The amount of the distribution in respect of Class B Additional Interest:
  $ 0.00  
5. The amount of the distribution in respect of principal of the Class B Certificates:
  $ 0.00  

- 127 -


 

         
G. Amount of reductions in Class B Invested Amount pursuant to clauses (c), (d), and (e) of the definition of Class B Invested Amount on such Distribution Date.
       
 
       
1. The amount of reductions in Class B Invested Amount pursuant to clauses (c), (d), and (e) of the definition of Class B Invested Amount:
  $ 0.00  
2. The amount of reductions in the Class B Invested Amount, per $1,000 original certificate principal amount:
  $ 0.00  
3. The total amount reimbursed in respect of such reductions in the Class B Invested Amount:
  $ 0.00  
4. The amount reimbursed in respect of such reductions in the Class B Invested Amount, per $1,000 original certificate principal amount:
  $ 0.00  
5. The amount, if any, by which the outstanding principal balance of the Class B Certificates exceeds the Class B Invested Amount after giving effect to all transactions on such Distribution Date:
  $ 0.00  
 
       
H. Information regarding distributions on the Distribution Date to the Collateral Interest Holder.
       
 
       
1. The total amount distributed to the Collateral Interest Holder:
  $ 4,166,704.65  
2. The amount of the distribution in respect of Collateral Minimum Monthly Interest:
  $ 83,035.88  
3. The amount of the distribution in respect of Collateral Additional Interest:
  $ 0.00  
4. The amount distributed to the Collateral Interest Holder in respect of principal on the Collateral Invested Amount:
  $ 0.00  
5. The amount distributed to the Collateral Interest Holder in respect of remaining Excess Spread:
  $ 4,083,668.77  

- 128 -


 

         
I. Amount of reductions in Collateral Invested Amount pursuant to clauses (c), (d), and (e) of the definition of Collateral Invested Amount.
       
 
       
1. The amount of reductions in the Collateral Invested Amount pursuant to clauses (c), (d), and (e) of the definition of Collateral Invested Amount:
  $ 0.00  
2. The total amount reimbursed in respect of such reductions in the Collateral Invested Amount:
  $ 0.00  
 
       
J. Application of Reallocated Investor Finance Charge Collections.
       
 
       
1. Class A Available Funds:
  $ 7,268,670.51  
a. Class A Monthly Interest:
  $ 1,014,178.00  
b. Class A Outstanding Monthly Interest:
  $ 0.00  
c. Class A Additional Interest:
  $ 0.00  
d. Class A Investor Default Amount (treated as Available Principal Collections):
  $ 1,917,759.00  
e. Excess Spread:
  $ 4,336,733.51  
2. Class B Available Funds:
  $ 454,291.91  
a. Class B Monthly Interest:
  $ 66,365.29  
b. Class B Outstanding Monthly Interest:
  $ 0.00  
c. Class B Additional Interest:
  $ 0.00  
d. Excess Spread:
  $ 387,926.62  
3. Collateral Available Funds:
  $ 536,890.44  
a. Excess Spread:
  $ 536,890.44  
4. Total Excess Spread:
  $ 5,261,550.57  

- 129 -


 

         
K. Reallocated Principal Collections.
       
 
       
1. Principal Allocation Percentage:
    78.1923 %
2. Series 2007-2 Allocable Principal Collections:
  $ 152,114,838.23  
3. Principal Allocation Percentage of Series 2007-2 Allocable Principal Collections:
  $ 118,942,131.08  
4. Reallocated Principal Collections Required to fund the Required Amount:
  $ 0.00  
5. Item 3 minus item 4:
  $ 118,942,131.08  
6. Shared Principal Collections from other Series allocated to Series 2007-2:
  $ 0.00  
7. Other amounts treated as Available Principal Collections:
  $ 2,179,271.59  
8. Available Principal Collections (total of items 5., 6. & 7.):
  $ 121,121,402.67  
 
       
L. Application of Available Principal Collections during Revolving Period.
       
 
       
1. Collateral Invested Amount:
  $ 32,500,000.00  
2. Required Collateral Invested Amount:
  $ 32,500,000.00  
3. Excess of Collateral Invested Amount over Required Collateral Invested Amount:
  $ 0.00  
4. Treated as Shared Principal Collections:
  $ 121,121,402.67  
 
       
M. Application of Principal Collections During Accumulation or Amortization Period.
       
 
       
1. Principal Funding Account:
  $ 0.00  
2. Excess of Collateral Invested Amount over Required Collateral Invested Amount:
  $ 0.00  
3. Distribution of Principal:
  $ 0.00  
4. Treated as Shared Principal Collections:
  $ 0.00  

- 130 -


 

         
N. Application of Excess Spread and Excess Finance Charge Collections Allocated to Series 2007-2.
       
 
       
1. Excess Spread:
  $ 5,261,550.57  
2. Excess Finance Charge Collections:
  $ 0.00  
3. Applied to fund Class A Required Amount:
  $ 0.00  
4. Class A Investor Charge-Offs treated as Available Principal Collections:
  $ 0.00  
5. Applied to fund overdue Class B Interest:
  $ 0.00  
6. Applied to fund Class B Required Amount:
  $ 119,859.94  
7. Reduction of Class B Invested Amount treated as Available Principal Collections:
  $ 0.00  
8. Applied to Collateral Minimum Monthly Interest:
  $ 83,035.88  
9. Applied to unpaid Monthly Servicing Fee:
  $ 833,333.33  
10. Collateral Default Amount treated as Available Principal Collections:
  $ 141,652.65  
11. Reduction of Collateral Invested Amount treated as Available Principal Collections:
  $ 0.00  
12. Deposited to Reserve Account:
  $ 0.00  
13. Remaining Excess Spread distributed to Collateral Interest Holder:
  $ 4,083,668.77  
 
       
O. Yield and Base Rate.
       
 
       
1. Base Rate:
       
a. Current Monthly Period:
    4.8592 %
b. Prior Monthly Period:
    5.0320 %
c. Second Prior Monthly Period:
    5.2047 %
2. Three Month Average Base Rate:
    5.0320 %
3. Series Adjusted Portfolio Yield:
       
a. Current Monthly Period:
    14.7961 %
b. Prior Monthly Period:
    15.9431 %
c. Second Prior Monthly Period:
    16.0392 %
4. Three Month Average Series Adjusted Portfolio Yield:
    15.5928 %
5. Is the 3 month average Series Adjusted Portfolio Yield more than the 3 month average Base Rate?
  Yes  

- 131 -


 

Series 2007-3 Certificates
                         
            Total Investor        
A. Investor/Transferor Allocations   Series Allocations     Interest     Transferors’ Interest  
Beginning Invested Amount/Transferor Amount
    767,338,722.73       600,000,000.00       167,338,722.73  
Beginning Adjusted Invested Amount
    N/A       600,000,000.00       N/A  
Floating Allocation Percentage
    N/A       78.1923 %     21.8077 %
Principal Allocation Percentage
    N/A       78.1923 %     21.8077 %
Collections of Finance Charge Receivables
    12,853,166.58       10,050,189.99       2,802,976.59  
Collections of Principal Receivables
    182,537,805.87       142,730,557.29       39,807,248.58  
Defaulted Amount
    3,344,478.96       2,615,125.91       729,353.05  
 
                       
Ending Invested Amount / Transferor Amount
    765,536,217.60       600,000,000.00       165,536,217.60  
                                 
B. Monthly Period Funding Requirements   Class A     Class B     Collateral Interest     Total  
Principal Funding Account Balance
    0.00       0.00       0.00       0.00  
Investment Proceeds for Monthly Period
    0.00       0.00       0.00       0.00  
Reserve Account Opening Balance
    0.00       0.00       0.00       0.00  
Reserve Account Deposit
    0.00       0.00       0.00       0.00  
Reserve Draw Amount
    0.00       0.00       0.00       0.00  
Reserve Account Surplus
    0.00       0.00       0.00       0.00  
Reserve Account Closing Balance
    0.00       0.00       0.00       0.00  
 
                               
LIBOR Determination Date
  April 11, 2008     April 11, 2008     April 11, 2008          
Coupon April 15, 2008 - May 14, 2008
    2.7159 %     2.8059 %     2.9659 %        
Monthly Interest Due
    1,195,013.60       77,163.35       96,393.05       1,368,570.00  
Outstanding Monthly Interest Due
    0.00       0.00       0.00       0.00  
Additional Interest Due
    0.00       0.00       0.00       0.00  
Total Interest Due
    1,195,013.60       77,163.35       96,393.05       1,368,570.00  
Investor Default Amount
    2,301,310.80       143,831.93       169,983.18       2,615,125.91  
Investor Monthly Fees Due
    880,000.00       55,000.00       65,000.00       1,000,000.00  
Investor Additional Amounts Due
    0.00       0.00       0.00       0.00  
Total Due
    4,376,324.40       275,995.28       331,376.23       4,983,695.91  
 
                               
Reallocated Investor Finance Charge Collections
                            9,884,098.42  
Interest and Principal Funding Investment Proceeds
                            0.00  
Interest on Reserve Account
                            0.00  
Series Adjusted Portfolio Yield
                            14.7399 %
Base Rate
                            4.8029 %
Excess Spread Percentage
                            9.8008 %
                                 
C. Certificates - Balances and Distributions   Class A     Class B     Collateral Interest     Total  
Beginning Certificates Balance
    528,000,000.00       33,000,000.00       39,000,000.00       600,000,000.00  
Distributions of Interest
    1,195,013.60       77,163.35       96,393.05       1,368,570.00  
Deposits to the Principal Funding Account
    0.00       0.00       0.00       0.00  
Distributions of Principal
    0.00       0.00       0.00       0.00  
Total Distributions
    1,195,013.60       77,163.35       96,393.05       1,368,570.00  
Ending Certificates Balance
    528,000,000.00       33,000,000.00       39,000,000.00       600,000,000.00  

- 132 -


 

         
D. Information regarding distributions on the Distribution Date in respect of the Class A Certificates per $1,000 original certificate principal amount.
       
 
       
1. The total amount of the distribution:
  $ 2.26  
2. The amount of the distribution in respect of Class A Monthly Interest:
  $ 2.26  
3. The amount of the distribution in respect of Class A Outstanding Monthly Interest:
  $ 0.00  
4. The amount of the distribution in respect of Class A Additional Interest:
  $ 0.00  
5. The amount of the distribution in respect of principal of the Class A Certificates:
  $ 0.00  
 
       
E. Class A Investor Charge-Offs and Reimbursement of Class A Investor Charge-Offs.
       
 
       
1. The total amount of Class A Investor Charge-Offs:
  $ 0.00  
2. The amount of Class A Investor Charge- Offs per $1,000 original certificate principal amount:
  $ 0.00  
3. The total amount reimbursed in respect of Class A Investor Charge-Offs:
  $ 0.00  
4. The amount reimbursed in respect of Class A Investor Charge-Offs per $1,000 original certificate principal amount:
  $ 0.00  
5. The amount, if any, by which the outstanding principal balance of the Class A Certificates exceeds the Class A Invested Amount after giving effect to all transactions on such Distribution Date:
  $ 0.00  
 
       
F. Information regarding distributions in respect of the Class B Certificates, per $1,000 original certificate principal amount.
       
 
       
1. The total amount of the distribution in respect of Class B Certificates:
  $ 2.34  
2. The amount of the distribution in respect of Class B Monthly Interest:
  $ 2.34  
3. The amount of the distribution in respect of Class B Outstanding Monthly Interest:
  $ 0.00  
4. The amount of the distribution in respect of Class B Additional Interest:
  $ 0.00  
5. The amount of the distribution in respect of principal of the Class B Certificates:
  $ 0.00  

- 133 -


 

         
G. Amount of reductions in Class B Invested Amount pursuant to clauses (c), (d), and (e) of the definition of Class B Invested Amount on such Distribution Date.
       
 
       
1. The amount of reductions in Class B Invested Amount pursuant to clauses (c), (d), and (e) of the definition of Class B Invested Amount:
  $ 0.00  
2. The amount of reductions in the Class B Invested Amount, per $1,000 original certificate principal amount:
  $ 0.00  
3. The total amount reimbursed in respect of such reductions in the Class B Invested Amount:
  $ 0.00  
4. The amount reimbursed in respect of such reductions in the Class B Invested Amount, per $1,000 original certificate principal amount:
  $ 0.00  
5. The amount, if any, by which the outstanding principal balance of the Class B Certificates exceeds the Class B Invested Amount after giving effect to all transactions on such Distribution Date:
  $ 0.00  
 
       
H. Information regarding distributions on the Distribution Date to the Collateral Interest Holder.
       
 
       
1. The total amount distributed to the Collateral Interest Holder:
  $ 4,996,795.56  
2. The amount of the distribution in respect of Collateral Minimum Monthly Interest:
  $ 96,393.05  
3. The amount of the distribution in respect of Collateral Additional Interest:
  $ 0.00  
4. The amount distributed to the Collateral Interest Holder in respect of principal on the Collateral Invested Amount:
  $ 0.00  
5. The amount distributed to the Collateral Interest Holder in respect of remaining Excess Spread:
  $ 4,900,402.51  

- 134 -


 

         
I. Amount of reductions in Collateral Invested Amount pursuant to clauses (c), (d), and (e) of the definition of Collateral Invested Amount.
       
 
       
1. The amount of reductions in the Collateral Invested Amount pursuant to clauses (c), (d), and (e) of the definition of Collateral Invested Amount:
  $ 0.00  
2. The total amount reimbursed in respect of such reductions in the Collateral Invested Amount:
  $ 0.00  
 
       
J. Application of Reallocated Investor Finance Charge Collections.
       
 
       
1. Class A Available Funds:
  $ 8,698,006.61  
a. Class A Monthly Interest:
  $ 1,195,013.60  
b. Class A Outstanding Monthly Interest:
  $ 0.00  
c. Class A Additional Interest:
  $ 0.00  
d. Class A Investor Default Amount (treated as Available Principal Collections):
  $ 2,301,310.80  
e. Excess Spread:
  $ 5,201,682.21  
2. Class B Available Funds:
  $ 543,625.41  
a. Class B Monthly Interest:
  $ 77,163.35  
b. Class B Outstanding Monthly Interest:
  $ 0.00  
c. Class B Additional Interest:
  $ 0.00  
d. Excess Spread:
  $ 466,462.06  
3. Collateral Available Funds:
  $ 642,466.40  
a. Excess Spread:
  $ 642,466.40  
4. Total Excess Spread:
  $ 6,310,610.67  

- 135 -


 

         
K. Reallocated Principal Collections.
       
 
       
1. Principal Allocation Percentage:
    78.1923 %
2. Series 2007-3 Allocable Principal Collections:
  $ 182,537,805.87  
3. Principal Allocation Percentage of Series 2007-3 Allocable Principal Collections:
  $ 142,730,557.29  
4. Reallocated Principal Collections Required to fund the Required Amount:
  $ 0.00  
5. Item 3 minus item 4:
  $ 142,730,557.29  
6. Shared Principal Collections from other Series allocated to Series 2007-3:
  $ 0.00  
7. Other amounts treated as Available Principal Collections:
  $ 2,615,125.91  
8. Available Principal Collections (total of items 5., 6. & 7.):
  $ 145,345,683.20  
 
       
L. Application of Available Principal Collections during Revolving Period.
       
 
       
1. Collateral Invested Amount:
  $ 39,000,000.00  
2. Required Collateral Invested Amount:
  $ 39,000,000.00  
3. Excess of Collateral Invested Amount over Required Collateral Invested Amount:
  $ 0.00  
4. Treated as Shared Principal Collections:
  $ 145,345,683.20  
 
       
M. Application of Principal Collections During Accumulation or Amortization Period.
       
 
       
1. Principal Funding Account:
  $ 0.00  
2. Excess of Collateral Invested Amount over Required Collateral Invested Amount:
  $ 0.00  
3. Distribution of Principal:
  $ 0.00  
4. Treated as Shared Principal Collections:
  $ 0.00  

- 136 -


 

         
N. Application of Excess Spread and Excess Finance Charge Collections Allocated to Series 2007-3.
       
 
       
1. Excess Spread:
  $ 6,310,610.67  
2. Excess Finance Charge Collections:
  $ 0.00  
3. Applied to fund Class A Required Amount:
  $ 0.00  
4. Class A Investor Charge-Offs treated as Available Principal Collections:
  $ 0.00  
5. Applied to fund overdue Class B Interest:
  $ 0.00  
6. Applied to fund Class B Required Amount:
  $ 143,831.93  
7. Reduction of Class B Invested Amount treated as Available Principal Collections:
  $ 0.00  
8. Applied to Collateral Minimum Monthly Interest:
  $ 96,393.05  
9. Applied to unpaid Monthly Servicing Fee:
  $ 1,000,000.00  
10. Collateral Default Amount treated as Available Principal Collections:
  $ 169,983.18  
11. Reduction of Collateral Invested Amount treated as Available Principal Collections:
  $ 0.00  
12. Deposited to Reserve Account:
  $ 0.00  
13. Remaining Excess Spread distributed to Collateral Interest Holder:
  $ 4,900,402.51  
 
       
O. Yield and Base Rate.
       
 
       
1. Base Rate:
       
a. Current Monthly Period:
    4.8029 %
b. Prior Monthly Period:
    4.9758 %
c. Second Prior Monthly Period:
    5.1485 %
2. Three Month Average Base Rate:
    4.9757 %
3. Series Adjusted Portfolio Yield:
       
a. Current Monthly Period:
    14.7399 %
b. Prior Monthly Period:
    15.8888 %
c. Second Prior Monthly Period:
    15.9811 %
4. Three Month Average Series Adjusted Portfolio Yield:
    15.5366 %
5. Is the 3 month average Series Adjusted Portfolio Yield more than the 3 month average Base Rate?
  Yes  

- 137 -


 

Series 2007-4 Certificates
                         
            Total Investor        
A. Investor/Transferor Allocations   Series Allocations     Interest     Transferors’ Interest  
Beginning Invested Amount/Transferor Amount
    1,023,118,296.97       800,000,000.00       223,118,296.97  
Beginning Adjusted Invested Amount
    N/A       800,000,000.00       N/A  
Floating Allocation Percentage
    N/A       78.1923 %     21.8077 %
Principal Allocation Percentage
    N/A       78.1923 %     21.8077 %
Collections of Finance Charge Receivables
    17,137,555.44       13,400,253.32       3,737,302.12  
Collections of Principal Receivables
    243,383,741.16       190,307,409.71       53,076,331.45  
Defaulted Amount
    4,459,305.28       3,486,834.55       972,470.73  
 
                       
Ending Invested Amount / Transferor Amount
    1,020,714,956.80       800,000,000.00       220,714,956.80  
                                 
B. Monthly Period Funding Requirements   Class A     Class B     Collateral Interest     Total  
Principal Funding Account Balance
    0.00       0.00       0.00       0.00  
Investment Proceeds for Monthly Period
    0.00       0.00       0.00       0.00  
Reserve Account Opening Balance
    0.00       0.00       0.00       0.00  
Reserve Account Deposit
    0.00       0.00       0.00       0.00  
Reserve Draw Amount
    0.00       0.00       0.00       0.00  
Reserve Account Surplus
    0.00       0.00       0.00       0.00  
Reserve Account Closing Balance
    0.00       0.00       0.00       0.00  
 
                               
LIBOR Determination Date
  April 11, 2008     April 11, 2008     April 11, 2008          
Coupon April 15, 2008 - May 14, 2008
    2.7059 %     2.8059 %     2.9759 %        
Monthly Interest Due
    1,587,484.80       102,884.47       128,957.40       1,819,326.67  
Outstanding Monthly Interest Due
    0.00       0.00       0.00       0.00  
Additional Interest Due
    0.00       0.00       0.00       0.00  
Total Interest Due
    1,587,484.80       102,884.47       128,957.40       1,819,326.67  
Investor Default Amount
    3,068,414.40       191,775.90       226,644.25       3,486,834.55  
Investor Monthly Fees Due
    1,173,333.33       73,333.33       86,666.67       1,333,333.33  
Investor Additional Amounts Due
    0.00       0.00       0.00       0.00  
Total Due
    5,829,232.53       367,993.70       442,268.32       6,639,494.55  
 
                               
Reallocated Investor Finance Charge Collections
                            13,173,364.57  
Interest and Principal Funding Investment Proceeds
                            0.00  
Interest on Reserve Account
                            0.00  
Series Adjusted Portfolio Yield
                            14.7316 %
Base Rate
                            4.7947 %
Excess Spread Percentage
                            9.8008 %
                                 
C. Certificates - Balances and Distributions   Class A     Class B     Collateral Interest     Total  
Beginning Certificates Balance
    704,000,000.00       44,000,000.00       52,000,000.00       800,000,000.00  
Distributions of Interest
    1,587,484.80       102,884.47       128,957.40       1,819,326.67  
Deposits to the Principal Funding Account
    0.00       0.00       0.00       0.00  
Distributions of Principal
    0.00       0.00       0.00       0.00  
Total Distributions
    1,587,484.80       102,884.47       128,957.40       1,819,326.67  
Ending Certificates Balance
    704,000,000.00       44,000,000.00       52,000,000.00       800,000,000.00  

- 138 -


 

         
D. Information regarding distributions on the Distribution Date in respect of the Class A Certificates per $1,000 original certificate principal amount.
       
 
       
1. The total amount of the distribution:
  $ 2.25  
2. The amount of the distribution in respect of Class A Monthly Interest:
  $ 2.25  
3. The amount of the distribution in respect of Class A Outstanding Monthly Interest:
  $ 0.00  
4. The amount of the distribution in respect of Class A Additional Interest:
  $ 0.00  
5. The amount of the distribution in respect of principal of the Class A Certificates:
  $ 0.00  
 
       
E. Class A Investor Charge-Offs and Reimbursement of Class A Investor Charge-Offs.
       
 
       
1. The total amount of Class A Investor Charge-Offs:
  $ 0.00  
2. The amount of Class A Investor Charge- Offs per $1,000 original certificate principal amount:
  $ 0.00  
3. The total amount reimbursed in respect of Class A Investor Charge-Offs:
  $ 0.00  
4. The amount reimbursed in respect of Class A Investor Charge-Offs per $1,000 original certificate principal amount:
  $ 0.00  
5. The amount, if any, by which the outstanding principal balance of the Class A Certificates exceeds the Class A Invested Amount after giving effect to all transactions on such Distribution Date:
  $ 0.00  
 
       
F. Information regarding distributions in respect of the Class B Certificates, per $1,000 original certificate principal amount.
       
 
       
1. The total amount of the distribution in respect of Class B Certificates:
  $ 2.34  
2. The amount of the distribution in respect of Class B Monthly Interest:
  $ 2.34  
3. The amount of the distribution in respect of Class B Outstanding Monthly Interest:
  $ 0.00  
4. The amount of the distribution in respect of Class B Additional Interest:
  $ 0.00  
5. The amount of the distribution in respect of principal of the Class B Certificates:
  $ 0.00  

- 139 -


 

         
G. Amount of reductions in Class B Invested Amount pursuant to clauses (c), (d), and (e) of the definition of Class B Invested Amount on such Distribution Date.
       
 
       
1. The amount of reductions in Class B Invested Amount pursuant to clauses (c), (d), and (e) of the definition of Class B Invested Amount:
  $ 0.00  
2. The amount of reductions in the Class B Invested Amount, per $1,000 original certificate principal amount:
  $ 0.00  
3. The total amount reimbursed in respect of such reductions in the Class B Invested Amount:
  $ 0.00  
4. The amount reimbursed in respect of such reductions in the Class B Invested Amount, per $1,000 original certificate principal amount:
  $ 0.00  
5. The amount, if any, by which the outstanding principal balance of the Class B Certificates exceeds the Class B Invested Amount after giving effect to all transactions on such Distribution Date:
  $ 0.00  
 
       
H. Information regarding distributions on the Distribution Date to the Collateral Interest Holder.
       
 
       
1. The total amount distributed to the Collateral Interest Holder:
  $ 6,662,827.42  
2. The amount of the distribution in respect of Collateral Minimum Monthly Interest:
  $ 128,957.40  
3. The amount of the distribution in respect of Collateral Additional Interest:
  $ 0.00  
4. The amount distributed to the Collateral Interest Holder in respect of principal on the Collateral Invested Amount:
  $ 0.00  
5. The amount distributed to the Collateral Interest Holder in respect of remaining Excess Spread:
  $ 6,533,870.02  

- 140 -


 

         
I. Amount of reductions in Collateral Invested Amount pursuant to clauses (c), (d), and (e) of the definition of Collateral Invested Amount.
       
 
       
1. The amount of reductions in the Collateral Invested Amount pursuant to clauses (c), (d), and (e) of the definition of Collateral Invested Amount:
  $ 0.00  
2. The total amount reimbursed in respect of such reductions in the Collateral Invested Amount:
  $ 0.00  
 
       
J. Application of Reallocated Investor Finance Charge Collections.
       
 
       
1. Class A Available Funds:
  $ 11,592,560.82  
a. Class A Monthly Interest:
  $ 1,587,484.80  
b. Class A Outstanding Monthly Interest:
  $ 0.00  
c. Class A Additional Interest:
  $ 0.00  
d. Class A Investor Default Amount (treated as Available Principal Collections):
  $ 3,068,414.40  
e. Excess Spread:
  $ 6,936,661.62  
2. Class B Available Funds:
  $ 724,535.05  
a. Class B Monthly Interest:
  $ 102,884.47  
b. Class B Outstanding Monthly Interest:
  $ 0.00  
c. Class B Additional Interest:
  $ 0.00  
d. Excess Spread:
  $ 621,650.58  
3. Collateral Available Funds:
  $ 856,268.70  
a. Excess Spread:
  $ 856,268.70  
4. Total Excess Spread:
  $ 8,414,580.90  

- 141 -


 

         
K. Reallocated Principal Collections.
       
 
       
1. Principal Allocation Percentage:
    78.1923 %
2. Series 2007-4 Allocable Principal Collections:
  $ 243,383,741.16  
3. Principal Allocation Percentage of Series 2007-4 Allocable Principal Collections:
  $ 190,307,409.71  
4. Reallocated Principal Collections Required to fund the Required Amount:
  $ 0.00  
5. Item 3 minus item 4:
  $ 190,307,409.71  
6. Shared Principal Collections from other Series allocated to Series 2007-4:
  $ 0.00  
7. Other amounts treated as Available Principal Collections:
  $ 3,486,834.55  
8. Available Principal Collections (total of items 5., 6. & 7.):
  $ 193,794,244.26  
 
       
L. Application of Available Principal Collections during Revolving Period.
       
 
       
1. Collateral Invested Amount:
  $ 52,000,000.00  
2. Required Collateral Invested Amount:
  $ 52,000,000.00  
3. Excess of Collateral Invested Amount over Required Collateral Invested Amount:
  $ 0.00  
4. Treated as Shared Principal Collections:
  $ 193,794,244.26  
 
       
M. Application of Principal Collections During Accumulation or Amortization Period.
       
 
       
1. Principal Funding Account:
  $ 0.00  
2. Excess of Collateral Invested Amount over Required Collateral Invested Amount:
  $ 0.00  
3. Distribution of Principal:
  $ 0.00  
4. Treated as Shared Principal Collections:
  $ 0.00  

- 142 -


 

         
N. Application of Excess Spread and Excess Finance Charge Collections Allocated to Series 2007-4.
       
 
       
1. Excess Spread:
  $ 8,414,580.90  
2. Excess Finance Charge Collections:
  $ 0.00  
3. Applied to fund Class A Required Amount:
  $ 0.00  
4. Class A Investor Charge-Offs treated as Available Principal Collections:
  $ 0.00  
5. Applied to fund overdue Class B Interest:
  $ 0.00  
6. Applied to fund Class B Required Amount:
  $ 191,775.90  
7. Reduction of Class B Invested Amount treated as Available Principal Collections:
  $ 0.00  
8. Applied to Collateral Minimum Monthly Interest:
  $ 128,957.40  
9. Applied to unpaid Monthly Servicing Fee:
  $ 1,333,333.33  
10. Collateral Default Amount treated as Available Principal Collections:
  $ 226,644.25  
11. Reduction of Collateral Invested Amount treated as Available Principal Collections:
  $ 0.00  
12. Deposited to Reserve Account:
  $ 0.00  
13. Remaining Excess Spread distributed to Collateral Interest Holder:
  $ 6,533,870.02  
 
       
O. Yield and Base Rate.
       
 
       
1. Base Rate:
       
a. Current Monthly Period:
    4.7947 %
b. Prior Monthly Period:
    4.9676 %
c. Second Prior Monthly Period:
    5.1402 %
2. Three Month Average Base Rate:
    4.9675 %
3. Series Adjusted Portfolio Yield:
       
a. Current Monthly Period:
    14.7316 %
b. Prior Monthly Period:
    15.8808 %
c. Second Prior Monthly Period:
    15.9726 %
4. Three Month Average Series Adjusted Portfolio Yield:
    15.5283 %
5. Is the 3 month average Series Adjusted Portfolio Yield more than the 3 month average Base Rate?
  Yes  

- 143 -


 

Series 2007-5 Certificates
                         
            Total Investor        
A. Investor/Transferor Allocations   Series Allocations     Interest     Transferors’ Interest  
Beginning Invested Amount/Transferor Amount
    639,448,935.60       500,000,000.00       139,448,935.60  
Beginning Adjusted Invested Amount
    N/A       500,000,000.00       N/A  
Floating Allocation Percentage
    N/A       78.1923 %     21.8077 %
Principal Allocation Percentage
    N/A       78.1923 %     21.8077 %
Collections of Finance Charge Receivables
    10,710,972.15       8,375,158.32       2,335,813.83  
Collections of Principal Receivables
    152,114,838.23       118,942,131.08       33,172,707.15  
Defaulted Amount
    2,787,065.80       2,179,271.59       607,794.21  
 
                       
Ending Invested Amount / Transferor Amount
    637,946,848.00       500,000,000.00       137,946,848.00  
                                 
B. Monthly Period Funding Requirements   Class A     Class B     Collateral Interest     Total  
Principal Funding Account Balance
    0.00       0.00       0.00       0.00  
Investment Proceeds for Monthly Period
    0.00       0.00       0.00       0.00  
Reserve Account Opening Balance
    0.00       0.00       0.00       0.00  
Reserve Account Deposit
    0.00       0.00       0.00       0.00  
Reserve Draw Amount
    0.00       0.00       0.00       0.00  
Reserve Account Surplus
    0.00       0.00       0.00       0.00  
Reserve Account Closing Balance
    0.00       0.00       0.00       0.00  
 
                               
LIBOR Determination Date
  April 11, 2008     April 11, 2008     April 11, 2008          
Coupon April 15, 2008 - May 14, 2008
    2.7459 %     2.8659 %     3.0659 %        
Monthly Interest Due
    1,006,844.67       65,677.79       83,035.88       1,155,558.34  
Outstanding Monthly Interest Due
    0.00       0.00       0.00       0.00  
Additional Interest Due
    0.00       0.00       0.00       0.00  
Total Interest Due
    1,006,844.67       65,677.79       83,035.88       1,155,558.34  
Investor Default Amount
    1,917,759.00       119,859.94       141,652.65       2,179,271.59  
Investor Monthly Fees Due
    733,333.33       45,833.33       54,166.67       833,333.33  
Investor Additional Amounts Due
    0.00       0.00       0.00       0.00  
Total Due
    3,657,937.00       231,371.06       278,855.20       4,168,163.26  
 
                               
Reallocated Investor Finance Charge Collections
                            8,251,832.02  
Interest and Principal Funding Investment Proceeds
                            0.00  
Interest on Reserve Account
                            0.00  
Series Adjusted Portfolio Yield
                            14.7766 %
Base Rate
                            4.8396 %
Excess Spread Percentage
                            9.8008 %
                                 
C. Certificates - Balances and Distributions   Class A     Class B     Collateral Interest     Total  
Beginning Certificates Balance
    440,000,000.00       27,500,000.00       32,500,000.00       500,000,000.00  
Distributions of Interest
    1,006,844.67       65,677.79       83,035.88       1,155,558.34  
Deposits to the Principal Funding Account
    0.00       0.00       0.00       0.00  
Distributions of Principal
    0.00       0.00       0.00       0.00  
Total Distributions
    1,006,844.67       65,677.79       83,035.88       1,155,558.34  
Ending Certificates Balance
    440,000,000.00       27,500,000.00       32,500,000.00       500,000,000.00  

- 144 -


 

         
D. Information regarding distributions on the Distribution Date in respect of the Class A Certificates per $1,000 original certificate principal amount.
       
 
       
1. The total amount of the distribution:
  $ 2.29  
2. The amount of the distribution in respect of Class A Monthly Interest:
  $ 2.29  
3. The amount of the distribution in respect of Class A Outstanding Monthly Interest:
  $ 0.00  
4. The amount of the distribution in respect of Class A Additional Interest:
  $ 0.00  
5. The amount of the distribution in respect of principal of the Class A Certificates:
  $ 0.00  
 
       
E. Class A Investor Charge-Offs and Reimbursement of Class A Investor Charge-Offs.
       
 
       
1. The total amount of Class A Investor Charge-Offs:
  $ 0.00  
2. The amount of Class A Investor Charge- Offs per $1,000 original certificate principal amount:
  $ 0.00  
3. The total amount reimbursed in respect of Class A Investor Charge-Offs:
  $ 0.00  
4. The amount reimbursed in respect of Class A Investor Charge-Offs per $1,000 original certificate principal amount:
  $ 0.00  
5. The amount, if any, by which the outstanding principal balance of the Class A Certificates exceeds the Class A Invested Amount after giving effect to all transactions on such Distribution Date:
  $ 0.00  
 
       
F. Information regarding distributions in respect of the Class B Certificates, per $1,000 original certificate principal amount.
       
 
       
1. The total amount of the distribution in respect of Class B Certificates:
  $ 2.39  
2. The amount of the distribution in respect of Class B Monthly Interest:
  $ 2.39  
3. The amount of the distribution in respect of Class B Outstanding Monthly Interest:
  $ 0.00  
4. The amount of the distribution in respect of Class B Additional Interest:
  $ 0.00  
5. The amount of the distribution in respect of principal of the Class B Certificates:
  $ 0.00  

- 145 -


 

         
G. Amount of reductions in Class B Invested Amount pursuant to clauses (c), (d), and (e) of the definition of Class B Invested Amount on such Distribution Date.
       
 
       
1. The amount of reductions in Class B Invested Amount pursuant to clauses (c), (d), and (e) of the definition of Class B Invested Amount:
  $ 0.00  
2. The amount of reductions in the Class B Invested Amount, per $1,000 original certificate principal amount:
  $ 0.00  
3. The total amount reimbursed in respect of such reductions in the Class B Invested Amount:
  $ 0.00  
4. The amount reimbursed in respect of such reductions in the Class B Invested Amount, per $1,000 original certificate principal amount:
  $ 0.00  
5. The amount, if any, by which the outstanding principal balance of the Class B Certificates exceeds the Class B Invested Amount after giving effect to all transactions on such Distribution Date:
  $ 0.00  
 
       
H. Information regarding distributions on the Distribution Date to the Collateral Interest Holder.
       
 
       
1. The total amount distributed to the Collateral Interest Holder:
  $ 4,166,704.64  
2. The amount of the distribution in respect of Collateral Minimum Monthly Interest:
  $ 83,035.88  
3. The amount of the distribution in respect of Collateral Additional Interest:
  $ 0.00  
4. The amount distributed to the Collateral Interest Holder in respect of principal on the Collateral Invested Amount:
  $ 0.00  
5. The amount distributed to the Collateral Interest Holder in respect of remaining Excess Spread:
  $ 4,083,668.76  

- 146 -


 

         
I. Amount of reductions in Collateral Invested Amount pursuant to clauses (c), (d), and (e) of the definition of Collateral Invested Amount.
       
 
       
1. The amount of reductions in the Collateral Invested Amount pursuant to clauses (c), (d), and (e) of the definition of Collateral Invested Amount:
  $ 0.00  
2. The total amount reimbursed in respect of such reductions in the Collateral Invested Amount:
  $ 0.00  
 
       
J. Application of Reallocated Investor Finance Charge Collections.
       
 
       
1. Class A Available Funds:
  $ 7,261,612.18  
a. Class A Monthly Interest:
  $ 1,006,844.67  
b. Class A Outstanding Monthly Interest:
  $ 0.00  
c. Class A Additional Interest:
  $ 0.00  
d. Class A Investor Default Amount (treated as Available Principal Collections):
  $ 1,917,759.00  
e. Excess Spread:
  $ 4,337,008.51  
2. Class B Available Funds:
  $ 453,850.76  
a. Class B Monthly Interest:
  $ 65,677.79  
b. Class B Outstanding Monthly Interest:
  $ 0.00  
c. Class B Additional Interest:
  $ 0.00  
d. Excess Spread:
  $ 388,172.97  
3. Collateral Available Funds:
  $ 536,369.08  
a. Excess Spread:
  $ 536,369.08  
4. Total Excess Spread:
  $ 5,261,550.56  

- 147 -


 

         
K. Reallocated Principal Collections.
       
 
       
1. Principal Allocation Percentage:
    78.1923 %
2. Series 2007-5 Allocable Principal Collections:
  $ 152,114,838.23  
3. Principal Allocation Percentage of Series 2007-5 Allocable Principal Collections:
  $ 118,942,131.08  
4. Reallocated Principal Collections Required to fund the Required Amount:
  $ 0.00  
5. Item 3 minus item 4:
  $ 118,942,131.08  
6. Shared Principal Collections from other Series allocated to Series 2007-5:
  $ 0.00  
7. Other amounts treated as Available Principal Collections:
  $ 2,179,271.59  
8. Available Principal Collections (total of items 5., 6. & 7.):
  $ 121,121,402.67  
 
       
L. Application of Available Principal Collections during Revolving Period.
       
 
       
1. Collateral Invested Amount:
  $ 32,500,000.00  
2. Required Collateral Invested Amount:
  $ 32,500,000.00  
3. Excess of Collateral Invested Amount over Required Collateral Invested Amount:
  $ 0.00  
4. Treated as Shared Principal Collections:
  $ 121,121,402.67  
 
       
M. Application of Principal Collections During Accumulation or Amortization Period.
       
 
       
1. Principal Funding Account:
  $ 0.00  
2. Excess of Collateral Invested Amount over Required Collateral Invested Amount:
  $ 0.00  
3. Distribution of Principal:
  $ 0.00  
4. Treated as Shared Principal Collections:
  $ 0.00  

- 148 -


 

         
N. Application of Excess Spread and Excess Finance Charge Collections Allocated to Series 2007-5.
       
 
       
1. Excess Spread:
  $ 5,261,550.56  
2. Excess Finance Charge Collections:
  $ 0.00  
3. Applied to fund Class A Required Amount:
  $ 0.00  
4. Class A Investor Charge-Offs treated as Available Principal Collections:
  $ 0.00  
5. Applied to fund overdue Class B Interest:
  $ 0.00  
6. Applied to fund Class B Required Amount:
  $ 119,859.94  
7. Reduction of Class B Invested Amount treated as Available Principal Collections:
  $ 0.00  
8. Applied to Collateral Minimum Monthly Interest:
  $ 83,035.88  
9. Applied to unpaid Monthly Servicing Fee:
  $ 833,333.33  
10. Collateral Default Amount treated as Available Principal Collections:
  $ 141,652.65  
11. Reduction of Collateral Invested Amount treated as Available Principal Collections:
  $ 0.00  
12. Deposited to Reserve Account:
  $ 0.00  
13. Remaining Excess Spread distributed to Collateral Interest Holder:
  $ 4,083,668.76  
 
       
O. Yield and Base Rate.
       
 
       
1. Base Rate:
       
a. Current Monthly Period:
    4.8396 %
b. Prior Monthly Period:
    5.0125 %
c. Second Prior Monthly Period:
    5.1852 %
2. Three Month Average Base Rate:
    5.0124 %
3. Series Adjusted Portfolio Yield:
       
a. Current Monthly Period:
    14.7766 %
b. Prior Monthly Period:
    15.9242 %
c. Second Prior Monthly Period:
    16.0191 %
4. Three Month Average Series Adjusted Portfolio Yield:
    15.5733 %
5. Is the 3 month average Series Adjusted Portfolio Yield more than the 3 month average Base Rate?
  Yes  

- 149 -


 

Series 2007-6 Certificates
                         
            Total Investor        
A. Investor/Transferor Allocations   Series Allocations     Interest     Transferors’ Interest  
Beginning Invested Amount/Transferor Amount
    1,278,897,871.21       1,000,000,000.00       278,897,871.21  
Beginning Adjusted Invested Amount
    N/A       1,000,000,000.00       N/A  
Floating Allocation Percentage
    N/A       78.1923 %     21.8077 %
Principal Allocation Percentage
    N/A       78.1923 %     21.8077 %
Collections of Finance Charge Receivables
    21,421,944.30       16,750,316.65       4,671,627.65  
Collections of Principal Receivables
    304,229,676.46       237,884,262.15       66,345,414.31  
Defaulted Amount
    5,574,131.60       4,358,543.18       1,215,588.42  
 
                       
Ending Invested Amount / Transferor Amount
    1,275,893,696.00       1,000,000,000.00       275,893,696.00  
                                 
B. Monthly Period Funding Requirements   Class A     Class B     Collateral Interest     Total  
Principal Funding Account Balance
    0.00       0.00       0.00       0.00  
Investment Proceeds for Monthly Period
    0.00       0.00       0.00       0.00  
Reserve Account Opening Balance
    0.00       0.00       0.00       0.00  
Reserve Account Deposit
    0.00       0.00       0.00       0.00  
Reserve Draw Amount
    0.00       0.00       0.00       0.00  
Reserve Account Surplus
    0.00       0.00       0.00       0.00  
Reserve Account Closing Balance
    0.00       0.00       0.00       0.00  
 
                               
LIBOR Determination Date
  April 11, 2008     April 11, 2008     April 11, 2008          
Coupon April 15, 2008 - May 14, 2008
    2.7159 %     2.8159 %     2.9959 %        
Monthly Interest Due
    1,991,689.33       129,063.92       162,280.08       2,283,033.33  
Outstanding Monthly Interest Due
    0.00       0.00       0.00       0.00  
Additional Interest Due
    0.00       0.00       0.00       0.00  
Total Interest Due
    1,991,689.33       129,063.92       162,280.08       2,283,033.33  
Investor Default Amount
    3,835,518.00       239,719.87       283,305.31       4,358,543.18  
Investor Monthly Fees Due
    1,466,666.67       91,666.67       108,333.33       1,666,666.67  
Investor Additional Amounts Due
    0.00       0.00       0.00       0.00  
Total Due
    7,293,874.00       460,450.46       553,918.72       8,308,243.18  
 
                               
Reallocated Investor Finance Charge Collections
                            16,475,580.70  
Interest and Principal Funding Investment Proceeds
                            0.00  
Interest on Reserve Account
                            0.00  
Series Adjusted Portfolio Yield
                            14.7424 %
Base Rate
                            4.8055 %
Excess Spread Percentage
                            9.8008 %
                                 
C. Certificates - Balances and Distributions   Class A     Class B     Collateral Interest     Total  
Beginning Certificates Balance
    880,000,000.00       55,000,000.00       65,000,000.00       1,000,000,000.00  
Distributions of Interest
    1,991,689.33       129,063.92       162,280.08       2,283,033.33  
Deposits to the Principal Funding Account
    0.00       0.00       0.00       0.00  
Distributions of Principal
    0.00       0.00       0.00       0.00  
Total Distributions
    1,991,689.33       129,063.92       162,280.08       2,283,033.33  
Ending Certificates Balance
    880,000,000.00       55,000,000.00       65,000,000.00       1,000,000,000.00  

- 150 -


 

         
D. Information regarding distributions on the Distribution Date in respect of the Class A Certificates per $1,000 original certificate principal amount.
       
 
       
1. The total amount of the distribution:
  $ 2.26  
2. The amount of the distribution in respect of Class A Monthly Interest:
  $ 2.26  
3. The amount of the distribution in respect of Class A Outstanding Monthly Interest:
  $ 0.00  
4. The amount of the distribution in respect of Class A Additional Interest:
  $ 0.00  
5. The amount of the distribution in respect of principal of the Class A Certificates:
  $ 0.00  
 
       
E. Class A Investor Charge-Offs and Reimbursement of Class A Investor Charge-Offs.
       
 
       
1. The total amount of Class A Investor Charge-Offs:
  $ 0.00  
2. The amount of Class A Investor Charge- Offs per $1,000 original certificate principal amount:
  $ 0.00  
3. The total amount reimbursed in respect of Class A Investor Charge-Offs:
  $ 0.00  
4. The amount reimbursed in respect of Class A Investor Charge-Offs per $1,000 original certificate principal amount:
  $ 0.00  
5. The amount, if any, by which the outstanding principal balance of the Class A Certificates exceeds the Class A Invested Amount after giving effect to all transactions on such Distribution Date:
  $ 0.00  
 
       
F. Information regarding distributions in respect of the Class B Certificates, per $1,000 original certificate principal amount.
       
 
       
1. The total amount of the distribution in respect of Class B Certificates:
  $ 2.35  
2. The amount of the distribution in respect of Class B Monthly Interest:
  $ 2.35  
3. The amount of the distribution in respect of Class B Outstanding Monthly Interest:
  $ 0.00  
4. The amount of the distribution in respect of Class B Additional Interest:
  $ 0.00  
5. The amount of the distribution in respect of principal of the Class B Certificates:
  $ 0.00  

- 151 -


 

         
G. Amount of reductions in Class B Invested Amount pursuant to clauses (c), (d), and (e) of the definition of Class B Invested Amount on such Distribution Date.
       
 
       
1. The amount of reductions in Class B Invested Amount pursuant to clauses (c), (d), and (e) of the definition of Class B Invested Amount:
  $ 0.00  
2. The amount of reductions in the Class B Invested Amount, per $1,000 original certificate principal amount:
  $ 0.00  
3. The total amount reimbursed in respect of such reductions in the Class B Invested Amount:
  $ 0.00  
4. The amount reimbursed in respect of such reductions in the Class B Invested Amount, per $1,000 original certificate principal amount:
  $ 0.00  
5. The amount, if any, by which the outstanding principal balance of the Class B Certificates exceeds the Class B Invested Amount after giving effect to all transactions on such Distribution Date:
  $ 0.00  
 
       
H. Information regarding distributions on the Distribution Date to the Collateral Interest Holder.
       
 
       
1. The total amount distributed to the Collateral Interest Holder:
  $ 8,329,617.61  
2. The amount of the distribution in respect of Collateral Minimum Monthly Interest:
  $ 162,280.08  
3. The amount of the distribution in respect of Collateral Additional Interest:
  $ 0.00  
4. The amount distributed to the Collateral Interest Holder in respect of principal on the Collateral Invested Amount:
  $ 0.00  
5. The amount distributed to the Collateral Interest Holder in respect of remaining Excess Spread:
  $ 8,167,337.53  

- 152 -


 

         
I. Amount of reductions in Collateral Invested Amount pursuant to clauses (c), (d), and (e) of the definition of Collateral Invested Amount.
       
 
       
1. The amount of reductions in the Collateral Invested Amount pursuant to clauses (c), (d), and (e) of the definition of Collateral Invested Amount:
  $ 0.00  
2. The total amount reimbursed in respect of such reductions in the Collateral Invested Amount:
  $ 0.00  
 
       
J. Application of Reallocated Investor Finance Charge Collections.
       
 
       
1. Class A Available Funds:
  $ 14,498,511.02  
a. Class A Monthly Interest:
  $ 1,991,689.33  
b. Class A Outstanding Monthly Interest:
  $ 0.00  
c. Class A Additional Interest:
  $ 0.00  
d. Class A Investor Default Amount (treated as Available Principal Collections):
  $ 3,835,518.00  
e. Excess Spread:
  $ 8,671,303.69  
2. Class B Available Funds:
  $ 906,156.94  
a. Class B Monthly Interest:
  $ 129,063.92  
b. Class B Outstanding Monthly Interest:
  $ 0.00  
c. Class B Additional Interest:
  $ 0.00  
d. Excess Spread:
  $ 777,093.02  
3. Collateral Available Funds:
  $ 1,070,912.75  
a. Excess Spread:
  $ 1,070,912.75  
4. Total Excess Spread:
  $ 10,519,309.46  

- 153 -


 

         
K. Reallocated Principal Collections.
       
 
       
1. Principal Allocation Percentage:
    78.1923 %
2. Series 2007-6 Allocable Principal Collections:
  $ 304,229,676.46  
3. Principal Allocation Percentage of Series 2007-6 Allocable Principal Collections:
  $ 237,884,262.15  
4. Reallocated Principal Collections Required to fund the Required Amount:
  $ 0.00  
5. Item 3 minus item 4:
  $ 237,884,262.15  
6. Shared Principal Collections from other Series allocated to Series 2007-6:
  $ 0.00  
7. Other amounts treated as Available Principal Collections:
  $ 4,358,543.18  
8. Available Principal Collections (total of items 5., 6. & 7.):
  $ 242,242,805.33  
 
       
L. Application of Available Principal Collections during Revolving Period.
       
 
       
1. Collateral Invested Amount:
  $ 65,000,000.00  
2. Required Collateral Invested Amount:
  $ 65,000,000.00  
3. Excess of Collateral Invested Amount over Required Collateral Invested Amount:
  $ 0.00  
4. Treated as Shared Principal Collections:
  $ 242,242,805.33  
 
       
M. Application of Principal Collections During Accumulation or Amortization Period.
       
 
       
1. Principal Funding Account:
  $ 0.00  
2. Excess of Collateral Invested Amount over Required Collateral Invested Amount:
  $ 0.00  
3. Distribution of Principal:
  $ 0.00  
4. Treated as Shared Principal Collections:
  $ 0.00  

- 154 -


 

         
N. Application of Excess Spread and Excess Finance Charge Collections Allocated to Series 2007-6.
       
 
       
1. Excess Spread:
  $ 10,519,309.46  
2. Excess Finance Charge Collections:
  $ 0.00  
3. Applied to fund Class A Required Amount:
  $ 0.00  
4. Class A Investor Charge-Offs treated as Available Principal Collections:
  $ 0.00  
5. Applied to fund overdue Class B Interest:
  $ 0.00  
6. Applied to fund Class B Required Amount:
  $ 239,719.87  
7. Reduction of Class B Invested Amount treated as Available Principal Collections:
  $ 0.00  
8. Applied to Collateral Minimum Monthly Interest:
  $ 162,280.08  
9. Applied to unpaid Monthly Servicing Fee:
  $ 1,666,666.67  
10. Collateral Default Amount treated as Available Principal Collections:
  $ 283,305.31  
11. Reduction of Collateral Invested Amount treated as Available Principal Collections:
  $ 0.00  
12. Deposited to Reserve Account:
  $ 0.00  
13. Remaining Excess Spread distributed to Collateral Interest Holder:
  $ 8,167,337.53  
 
       
O. Yield and Base Rate.
       
 
       
1. Base Rate:
       
a. Current Monthly Period:
    4.8055 %
b. Prior Monthly Period:
    4.9784 %
c. Second Prior Monthly Period:
    5.1510 %
2. Three Month Average Base Rate:
    4.9783 %
3. Series Adjusted Portfolio Yield:
       
a. Current Monthly Period:
    14.7424 %
b. Prior Monthly Period:
    15.8912 %
c. Second Prior Monthly Period:
    15.9838 %
4. Three Month Average Series Adjusted Portfolio Yield:
    15.5391 %
5. Is the 3 month average Series Adjusted Portfolio Yield more than the 3 month average Base Rate?
  Yes  

- 155 -


 

Series 2007-7 Certificates
                         
            Total Investor        
A. Investor/Transferor Allocations   Series Allocations     Interest     Transferors’ Interest  
Beginning Invested Amount/Transferor Amount
    1,151,008,084.09       900,000,000.00       251,008,084.09  
Beginning Adjusted Invested Amount
    N/A       900,000,000.00       N/A  
Floating Allocation Percentage
    N/A       78.1923 %     21.8077 %
Principal Allocation Percentage
    N/A       78.1923 %     21.8077 %
Collections of Finance Charge Receivables
    19,279,749.87       15,075,284.98       4,204,464.89  
Collections of Principal Receivables
    273,806,708.81       214,095,835.93       59,710,872.88  
Defaulted Amount
    5,016,718.44       3,922,688.87       1,094,029.57  
 
                       
Ending Invested Amount / Transferor Amount
    1,148,304,326.40       900,000,000.00       248,304,326.40  
                                 
B. Monthly Period Funding Requirements   Class A     Class B     Collateral Interest     Total  
Principal Funding Account Balance
    0.00       0.00       0.00       0.00  
Investment Proceeds for Monthly Period
    0.00       0.00       0.00       0.00  
Reserve Account Opening Balance
    0.00       0.00       0.00       0.00  
Reserve Account Deposit
    0.00       0.00       0.00       0.00  
Reserve Draw Amount
    0.00       0.00       0.00       0.00  
Reserve Account Surplus
    0.00       0.00       0.00       0.00  
Reserve Account Closing Balance
    0.00       0.00       0.00       0.00  
 
                               
LIBOR Determination Date
  April 11, 2008     April 11, 2008     April 11, 2008          
Coupon April 15, 2008 - May 14, 2008
    2.7559 %     2.8859 %     3.1059 %        
Monthly Interest Due
    1,818,920.40       119,045.03       151,414.58       2,089,380.01  
Outstanding Monthly Interest Due
    0.00       0.00       0.00       0.00  
Additional Interest Due
    0.00       0.00       0.00       0.00  
Total Interest Due
    1,818,920.40       119,045.03       151,414.58       2,089,380.01  
Investor Default Amount
    3,451,966.21       215,747.89       254,974.78       3,922,688.87  
Investor Monthly Fees Due
    1,320,000.00       82,500.00       97,500.00       1,500,000.00  
Investor Additional Amounts Due
    0.00       0.00       0.00       0.00  
Total Due
    6,590,886.61       417,292.92       503,889.36       7,512,068.89  
 
                               
Reallocated Investor Finance Charge Collections
                            14,862,672.65  
Interest and Principal Funding Investment Proceeds
                            0.00  
Interest on Reserve Account
                            0.00  
Series Adjusted Portfolio Yield
                            14.7892 %
Base Rate
                            4.8523 %
Excess Spread Percentage
                            9.8008 %
                                 
C. Certificates - Balances and Distributions   Class A     Class B     Collateral Interest     Total  
Beginning Certificates Balance
    792,000,000.00       49,500,000.00       58,500,000.00       900,000,000.00  
Distributions of Interest
    1,818,920.40       119,045.03       151,414.58       2,089,380.01  
Deposits to the Principal Funding Account
    0.00       0.00       0.00       0.00  
Distributions of Principal
    0.00       0.00       0.00       0.00  
Total Distributions
    1,818,920.40       119,045.03       151,414.58       2,089,380.01  
Ending Certificates Balance
    792,000,000.00       49,500,000.00       58,500,000.00       900,000,000.00  

- 156 -


 

         
D. Information regarding distributions on the Distribution Date in respect of the Class A Certificates per $1,000 original certificate principal amount.
       
 
       
1. The total amount of the distribution:
  $ 2.30  
2. The amount of the distribution in respect of Class A Monthly Interest:
  $ 2.30  
3. The amount of the distribution in respect of Class A Outstanding Monthly Interest:
  $ 0.00  
4. The amount of the distribution in respect of Class A Additional Interest:
  $ 0.00  
5. The amount of the distribution in respect of principal of the Class A Certificates:
  $ 0.00  
 
       
E. Class A Investor Charge-Offs and Reimbursement of Class A Investor Charge-Offs.
       
 
       
1. The total amount of Class A Investor Charge-Offs:
  $ 0.00  
2. The amount of Class A Investor Charge- Offs per $1,000 original certificate principal amount:
  $ 0.00  
3. The total amount reimbursed in respect of Class A Investor Charge-Offs:
  $ 0.00  
4. The amount reimbursed in respect of Class A Investor Charge-Offs per $1,000 original certificate principal amount:
  $ 0.00  
5. The amount, if any, by which the outstanding principal balance of the Class A Certificates exceeds the Class A Invested Amount after giving effect to all transactions on such Distribution Date:
  $ 0.00  
 
       
F. Information regarding distributions in respect of the Class B Certificates, per $1,000 original certificate principal amount.
       
 
       
1. The total amount of the distribution in respect of Class B Certificates:
  $ 2.40  
2. The amount of the distribution in respect of Class B Monthly Interest:
  $ 2.40  
3. The amount of the distribution in respect of Class B Outstanding Monthly Interest:
  $ 0.00  
4. The amount of the distribution in respect of Class B Additional Interest:
  $ 0.00  
5. The amount of the distribution in respect of principal of the Class B Certificates:
  $ 0.00  

- 157 -


 

         
G. Amount of reductions in Class B Invested Amount pursuant to clauses (c), (d), and (e) of the definition of Class B Invested Amount on such Distribution Date.
       
 
       
1. The amount of reductions in Class B Invested Amount pursuant to clauses (c), (d), and (e) of the definition of Class B Invested Amount:
  $ 0.00  
2. The amount of reductions in the Class B Invested Amount, per $1,000 original certificate principal amount:
  $ 0.00  
3. The total amount reimbursed in respect of such reductions in the Class B Invested Amount:
  $ 0.00  
4. The amount reimbursed in respect of such reductions in the Class B Invested Amount, per $1,000 original certificate principal amount:
  $ 0.00  
5. The amount, if any, by which the outstanding principal balance of the Class B Certificates exceeds the Class B Invested Amount after giving effect to all transactions on such Distribution Date:
  $ 0.00  
 
       
H. Information regarding distributions on the Distribution Date to the Collateral Interest Holder.
       
 
       
1. The total amount distributed to the Collateral Interest Holder:
  $ 7,502,018.34  
2. The amount of the distribution in respect of Collateral Minimum Monthly Interest:
  $ 151,414.58  
3. The amount of the distribution in respect of Collateral Additional Interest:
  $ 0.00  
4. The amount distributed to the Collateral Interest Holder in respect of principal on the Collateral Invested Amount:
  $ 0.00  
5. The amount distributed to the Collateral Interest Holder in respect of remaining Excess Spread:
  $ 7,350,603.76  

- 158 -


 

         
I. Amount of reductions in Collateral Invested Amount pursuant to clauses (c), (d), and (e) of the definition of Collateral Invested Amount.
       
 
       
1. The amount of reductions in the Collateral Invested Amount pursuant to clauses (c), (d), and (e) of the definition of Collateral Invested Amount:
  $ 0.00  
2. The total amount reimbursed in respect of such reductions in the Collateral Invested Amount:
  $ 0.00  
 
       
J. Application of Reallocated Investor Finance Charge Collections.
       
 
       
1. Class A Available Funds:
  $ 13,079,151.93  
a. Class A Monthly Interest:
  $ 1,818,920.40  
b. Class A Outstanding Monthly Interest:
  $ 0.00  
c. Class A Additional Interest:
  $ 0.00  
d. Class A Investor Default Amount (treated as Available Principal Collections):
  $ 3,451,966.21  
e. Excess Spread:
  $ 7,808,265.32  
2. Class B Available Funds:
  $ 817,447.00  
a. Class B Monthly Interest:
  $ 119,045.03  
b. Class B Outstanding Monthly Interest:
  $ 0.00  
c. Class B Additional Interest:
  $ 0.00  
d. Excess Spread:
  $ 698,401.97  
3. Collateral Available Funds:
  $ 966,073.72  
a. Excess Spread:
  $ 966,073.72  
4. Total Excess Spread:
  $ 9,472,741.01  

- 159 -


 

         
K. Reallocated Principal Collections.
       
 
       
1. Principal Allocation Percentage:
    78.1923 %
2. Series 2007-7 Allocable Principal Collections:
  $ 273,806,708.81  
3. Principal Allocation Percentage of Series 2007-7 Allocable Principal Collections:
  $ 214,095,835.93  
4. Reallocated Principal Collections Required to fund the Required Amount:
  $ 0.00  
5. Item 3 minus item 4:
  $ 214,095,835.93  
6. Shared Principal Collections from other Series allocated to Series 2007-7:
  $ 0.00  
7. Other amounts treated as Available Principal Collections:
  $ 3,922,688.88  
8. Available Principal Collections (total of items 5., 6. & 7.):
  $ 218,018,524.81  
 
       
L. Application of Available Principal Collections during Revolving Period.
       
 
       
1. Collateral Invested Amount:
  $ 58,500,000.00  
2. Required Collateral Invested Amount:
  $ 58,500,000.00  
3. Excess of Collateral Invested Amount over Required Collateral Invested Amount:
  $ 0.00  
4. Treated as Shared Principal Collections:
  $ 218,018,524.81  
 
       
M. Application of Principal Collections During Accumulation or Amortization Period.
       
 
       
1. Principal Funding Account:
  $ 0.00  
2. Excess of Collateral Invested Amount over Required Collateral Invested Amount:
  $ 0.00  
3. Distribution of Principal:
  $ 0.00  
4. Treated as Shared Principal Collections:
  $ 0.00  

- 160 -


 

         
N. Application of Excess Spread and Excess Finance Charge Collections Allocated to Series 2007-7.
       
 
       
1. Excess Spread:
  $ 9,472,741.01  
2. Excess Finance Charge Collections:
  $ 0.00  
3. Applied to fund Class A Required Amount:
  $ 0.00  
4. Class A Investor Charge-Offs treated as Available Principal Collections:
  $ 0.00  
5. Applied to fund overdue Class B Interest:
  $ 0.00  
6. Applied to fund Class B Required Amount:
  $ 215,747.89  
7. Reduction of Class B Invested Amount treated as Available Principal Collections:
  $ 0.00  
8. Applied to Collateral Minimum Monthly Interest:
  $ 151,414.58  
9. Applied to unpaid Monthly Servicing Fee:
  $ 1,500,000.00  
10. Collateral Default Amount treated as Available Principal Collections:
  $ 254,974.78  
11. Reduction of Collateral Invested Amount treated as Available Principal Collections:
  $ 0.00  
12. Deposited to Reserve Account:
  $ 0.00  
13. Remaining Excess Spread distributed to Collateral Interest Holder:
  $ 7,350,603.76  
 
       
O. Yield and Base Rate.
       
 
       
1. Base Rate:
       
a. Current Monthly Period:
    4.8523 %
b. Prior Monthly Period:
    5.0252 %
c. Second Prior Monthly Period:
    5.1978 %
2. Three Month Average Base Rate:
    5.0251 %
3. Series Adjusted Portfolio Yield:
       
a. Current Monthly Period:
    14.7892 %
b. Prior Monthly Period:
    15.9365 %
c. Second Prior Monthly Period:
    16.0322 %
4. Three Month Average Series Adjusted Portfolio Yield:
    15.5860 %
5. Is the 3 month average Series Adjusted Portfolio Yield more than the 3 month average Base Rate?
  Yes  

- 161 -


 

Series 2007-8 Certificates
                         
            Total Investor        
A. Investor/Transferor Allocations   Series Allocations     Interest     Transferors’ Interest  
Beginning Invested Amount/Transferor Amount
    1,534,677,445.45       1,200,000,000.00       334,677,445.45  
Beginning Adjusted Invested Amount
    N/A       1,200,000,000.00       N/A  
Floating Allocation Percentage
    N/A       78.1923 %     21.8077 %
Principal Allocation Percentage
    N/A       78.1923 %     21.8077 %
Collections of Finance Charge Receivables
    25,706,333.16       20,100,379.97       5,605,953.19  
Collections of Principal Receivables
    365,075,611.75       285,461,114.58       79,614,497.17  
Defaulted Amount
    6,688,957.92       5,230,251.82       1,458,706.10  
 
                       
Ending Invested Amount / Transferor Amount
    1,531,072,435.20       1,200,000,000.00       331,072,435.20  
                                 
B. Monthly Period Funding Requirements   Class A     Class B     Collateral Interest     Total  
Principal Funding Account Balance
    0.00       0.00       0.00       0.00  
Investment Proceeds for Monthly Period
    0.00       0.00       0.00       0.00  
Reserve Account Opening Balance
    0.00       0.00       0.00       0.00  
Reserve Account Deposit
    0.00       0.00       0.00       0.00  
Reserve Draw Amount
    0.00       0.00       0.00       0.00  
Reserve Account Surplus
    0.00       0.00       0.00       0.00  
Reserve Account Closing Balance
    0.00       0.00       0.00       0.00  
 
                               
LIBOR Determination Date
  April 11, 2008     April 11, 2008     April 11, 2008          
Coupon April 15, 2008 - May 14, 2008
    3.0159 %     3.4159 %     4.0159 %        
Monthly Interest Due
    2,654,027.20       187,876.70       261,036.10       3,102,940.00  
Outstanding Monthly Interest Due
    0.00       0.00       0.00       0.00  
Additional Interest Due
    0.00       0.00       0.00       0.00  
Total Interest Due
    2,654,027.20       187,876.70       261,036.10       3,102,940.00  
Investor Default Amount
    4,602,621.60       287,663.85       339,966.37       5,230,251.82  
Investor Monthly Fees Due
    1,760,000.00       110,000.00       130,000.00       2,000,000.00  
Investor Additional Amounts Due
    0.00       0.00       0.00       0.00  
Total Due
    9,016,648.80       585,540.55       731,002.47       10,333,191.82  
 
                               
Reallocated Investor Finance Charge Collections
                            20,133,996.85  
Interest and Principal Funding Investment Proceeds
                            0.00  
Interest on Reserve Account
                            0.00  
Series Adjusted Portfolio Yield
                            15.1107 %
Base Rate
                            5.1738 %
Excess Spread Percentage
                            9.8008 %
                                 
C. Certificates - Balances and Distributions   Class A     Class B     Collateral Interest     Total  
Beginning Certificates Balance
    1,056,000,000.00       66,000,000.00       78,000,000.00       1,200,000,000.00  
Distributions of Interest
    2,654,027.20       187,876.70       261,036.10       3,102,940.00  
Deposits to the Principal Funding Account
    0.00       0.00       0.00       0.00  
Distributions of Principal
    0.00       0.00       0.00       0.00  
Total Distributions
    2,654,027.20       187,876.70       261,036.10       3,102,940.00  
Ending Certificates Balance
    1,056,000,000.00       66,000,000.00       78,000,000.00       1,200,000,000.00  

- 162 -


 

         
D. Information regarding distributions on the Distribution Date in respect of the Class A Certificates per $1,000 original certificate principal amount.
       
 
       
1. The total amount of the distribution:
  $ 2.51  
2. The amount of the distribution in respect of Class A Monthly Interest:
  $ 2.51  
3. The amount of the distribution in respect of Class A Outstanding Monthly Interest:
  $ 0.00  
4. The amount of the distribution in respect of Class A Additional Interest:
  $ 0.00  
5. The amount of the distribution in respect of principal of the Class A Certificates:
  $ 0.00  
 
       
E. Class A Investor Charge-Offs and Reimbursement of Class A Investor Charge-Offs.
       
 
       
1. The total amount of Class A Investor Charge-Offs:
  $ 0.00  
2. The amount of Class A Investor Charge- Offs per $1,000 original certificate principal amount:
  $ 0.00  
3. The total amount reimbursed in respect of Class A Investor Charge-Offs:
  $ 0.00  
4. The amount reimbursed in respect of Class A Investor Charge-Offs per $1,000 original certificate principal amount:
  $ 0.00  
5. The amount, if any, by which the outstanding principal balance of the Class A Certificates exceeds the Class A Invested Amount after giving effect to all transactions on such Distribution Date:
  $ 0.00  
 
       
F. Information regarding distributions in respect of the Class B Certificates, per $1,000 original certificate principal amount.
       
 
       
1. The total amount of the distribution in respect of Class B Certificates:
  $ 2.85  
2. The amount of the distribution in respect of Class B Monthly Interest:
  $ 2.85  
3. The amount of the distribution in respect of Class B Outstanding Monthly Interest:
  $ 0.00  
4. The amount of the distribution in respect of Class B Additional Interest:
  $ 0.00  
5. The amount of the distribution in respect of principal of the Class B Certificates:
  $ 0.00  

- 163 -


 

         
G. Amount of reductions in Class B Invested Amount pursuant to clauses (c), (d), and (e) of the definition of Class B Invested Amount on such Distribution Date.
       
 
       
1. The amount of reductions in Class B Invested Amount pursuant to clauses (c), (d), and (e) of the definition of Class B Invested Amount:
  $ 0.00  
2. The amount of reductions in the Class B Invested Amount, per $1,000 original certificate principal amount:
  $ 0.00  
3. The total amount reimbursed in respect of such reductions in the Class B Invested Amount:
  $ 0.00  
4. The amount reimbursed in respect of such reductions in the Class B Invested Amount, per $1,000 original certificate principal amount:
  $ 0.00  
5. The amount, if any, by which the outstanding principal balance of the Class B Certificates exceeds the Class B Invested Amount after giving effect to all transactions on such Distribution Date:
  $ 0.00  
 
       
H. Information regarding distributions on the Distribution Date to the Collateral Interest Holder.
       
 
       
1. The total amount distributed to the Collateral Interest Holder:
  $ 10,061,841.14  
2. The amount of the distribution in respect of Collateral Minimum Monthly Interest:
  $ 261,036.10  
3. The amount of the distribution in respect of Collateral Additional Interest:
  $ 0.00  
4. The amount distributed to the Collateral Interest Holder in respect of principal on the Collateral Invested Amount:
  $ 0.00  
5. The amount distributed to the Collateral Interest Holder in respect of remaining Excess Spread:
  $ 9,800,805.04  

- 164 -


 

         
I. Amount of reductions in Collateral Invested Amount pursuant to clauses (c), (d), and (e) of the definition of Collateral Invested Amount.
       
 
       
1. The amount of reductions in the Collateral Invested Amount pursuant to clauses (c), (d), and (e) of the definition of Collateral Invested Amount:
  $ 0.00  
2. The total amount reimbursed in respect of such reductions in the Collateral Invested Amount:
  $ 0.00  
 
       
J. Application of Reallocated Investor Finance Charge Collections.
       
 
       
1. Class A Available Funds:
  $ 17,717,917.23  
a. Class A Monthly Interest:
  $ 2,654,027.20  
b. Class A Outstanding Monthly Interest:
  $ 0.00  
c. Class A Additional Interest:
  $ 0.00  
d. Class A Investor Default Amount (treated as Available Principal Collections):
  $ 4,602,621.60  
e. Excess Spread:
  $ 10,461,268.43  
2. Class B Available Funds:
  $ 1,107,369.83  
a. Class B Monthly Interest:
  $ 187,876.70  
b. Class B Outstanding Monthly Interest:
  $ 0.00  
c. Class B Additional Interest:
  $ 0.00  
d. Excess Spread:
  $ 919,493.13  
3. Collateral Available Funds:
  $ 1,308,709.80  
a. Excess Spread:
  $ 1,308,709.80  
4. Total Excess Spread:
  $ 12,689,471.36  

- 165 -


 

         
K. Reallocated Principal Collections.
       
 
       
1. Principal Allocation Percentage:
    78.1923 %
2. Series 2007-8 Allocable Principal Collections:
  $ 365,075,611.75  
3. Principal Allocation Percentage of Series 2007-8 Allocable Principal Collections:
  $ 285,461,114.58  
4. Reallocated Principal Collections Required to fund the Required Amount:
  $ 0.00  
5. Item 3 minus item 4:
  $ 285,461,114.58  
6. Shared Principal Collections from other Series allocated to Series 2007-8:
  $ 0.00  
7. Other amounts treated as Available Principal Collections:
  $ 5,230,251.82  
8. Available Principal Collections (total of items 5., 6. & 7.):
  $ 290,691,366.40  
 
       
L. Application of Available Principal Collections during Revolving Period.
       
 
       
1. Collateral Invested Amount:
  $ 78,000,000.00  
2. Required Collateral Invested Amount:
  $ 78,000,000.00  
3. Excess of Collateral Invested Amount over Required Collateral Invested Amount:
  $ 0.00  
4. Treated as Shared Principal Collections:
  $ 290,691,366.40  
 
       
M. Application of Principal Collections During Accumulation or Amortization Period.
       
 
       
1. Principal Funding Account:
  $ 0.00  
2. Excess of Collateral Invested Amount over Required Collateral Invested Amount:
  $ 0.00  
3. Distribution of Principal:
  $ 0.00  
4. Treated as Shared Principal Collections:
  $ 0.00  

- 166 -


 

         
N. Application of Excess Spread and Excess Finance Charge Collections Allocated to Series 2007-8.
       
 
       
1. Excess Spread:
  $ 12,689,471.36  
2. Excess Finance Charge Collections:
  $ 0.00  
3. Applied to fund Class A Required Amount:
  $ 0.00  
4. Class A Investor Charge-Offs treated as Available Principal Collections:
  $ 0.00  
5. Applied to fund overdue Class B Interest:
  $ 0.00  
6. Applied to fund Class B Required Amount:
  $ 287,663.85  
7. Reduction of Class B Invested Amount treated as Available Principal Collections:
  $ 0.00  
8. Applied to Collateral Minimum Monthly Interest:
  $ 261,036.10  
9. Applied to unpaid Monthly Servicing Fee:
  $ 2,000,000.00  
10. Collateral Default Amount treated as Available Principal Collections:
  $ 339,966.37  
11. Reduction of Collateral Invested Amount treated as Available Principal Collections:
  $ 0.00  
12. Deposited to Reserve Account:
  $ 0.00  
13. Remaining Excess Spread distributed to Collateral Interest Holder:
  $ 9,800,805.04  
 
       
O. Yield and Base Rate.
       
 
       
1. Base Rate:
       
a. Current Monthly Period:
    5.1738 %
b. Prior Monthly Period:
    5.3467 %
c. Second Prior Monthly Period:
    5.5193 %
2. Three Month Average Base Rate:
    5.3466 %
3. Series Adjusted Portfolio Yield:
       
a. Current Monthly Period:
    15.1107 %
b. Prior Monthly Period:
    16.2473 %
c. Second Prior Monthly Period:
    16.3644 %
4. Three Month Average Series Adjusted Portfolio Yield:
    15.9075 %
5. Is the 3 month average Series Adjusted Portfolio Yield more than the 3 month average Base Rate?
  Yes  

- 167 -


 

Series 2008-1 Certificates
                         
            Total Investor        
A. Investor/Transferor Allocations   Series Allocations     Interest     Transferors’ Interest  
Beginning Invested Amount/Transferor Amount
    3,676,831,379.73       2,875,000,000.00       801,831,379.73  
Beginning Adjusted Invested Amount
    N/A       2,875,000,000.00       N/A  
Floating Allocation Percentage
    N/A       78.1923 %     21.8077 %
Principal Allocation Percentage
    N/A       78.1923 %     21.8077 %
Collections of Finance Charge Receivables
    61,588,089.86       48,157,160.35       13,430,929.51  
Collections of Principal Receivables
    874,660,319.81       683,917,253.68       190,743,066.13  
Defaulted Amount
    16,025,628.36       12,530,811.66       3,494,816.70  
 
                       
Ending Invested Amount / Transferor Amount
    3,668,194,376.00       2,875,000,000.00       793,194,376.00  
                                 
B. Monthly Period Funding Requirements   Class A     Class B     Collateral Interest     Total  
Principal Funding Account Balance
    0.00       0.00       0.00       0.00  
Investment Proceeds for Monthly Period
    0.00       0.00       0.00       0.00  
Reserve Account Opening Balance
    0.00       0.00       0.00       0.00  
Reserve Account Deposit
    0.00       0.00       0.00       0.00  
Reserve Draw Amount
    0.00       0.00       0.00       0.00  
Reserve Account Surplus
    0.00       0.00       0.00       0.00  
Reserve Account Closing Balance
    0.00       0.00       0.00       0.00  
 
                               
LIBOR Determination Date
  April 11, 2008     April 11, 2008     April 11, 2008          
Coupon April 15, 2008 - May 14, 2008
    3.1659 %     4.0659 %     5.2159 %        
Monthly Interest Due
    6,674,856.83       535,772.30       812,273.99       8,022,903.12  
Outstanding Monthly Interest Due
    0.00       0.00       0.00       0.00  
Additional Interest Due
    0.00       0.00       0.00       0.00  
Total Interest Due
    6,674,856.83       535,772.30       812,273.99       8,022,903.12  
Investor Default Amount
    11,027,114.26       689,194.64       814,502.76       12,530,811.66  
Investor Monthly Fees Due
    4,216,666.67       263,541.67       311,458.33       4,791,666.67  
Investor Additional Amounts Due
    0.00       0.00       0.00       0.00  
Total Due
    21,918,637.76       1,488,508.61       1,938,235.08       25,345,381.45  
 
                               
Reallocated Investor Finance Charge Collections
                            48,826,476.83  
Interest and Principal Funding Investment Proceeds
                            0.00  
Interest on Reserve Account
                            0.00  
Series Adjusted Portfolio Yield
                            15.3599 %
Base Rate
                            5.4230 %
Excess Spread Percentage
                            9.8008 %
                                 
C. Certificates - Balances and Distributions   Class A     Class B     Collateral Interest     Total  
Beginning Certificates Balance
    2,530,000,000.00       158,125,000.00       186,875,000.00       2,875,000,000.00  
Distributions of Interest
    6,674,856.83       535,772.30       812,273.99       8,022,903.12  
Deposits to the Principal Funding Account
    0.00       0.00       0.00       0.00  
Distributions of Principal
    0.00       0.00       0.00       0.00  
Total Distributions
    6,674,856.83       535,772.30       812,273.99       8,022,903.12  
Ending Certificates Balance
    2,530,000,000.00       158,125,000.00       186,875,000.00       2,875,000,000.00  

- 168 -


 

         
D. Information regarding distributions on the Distribution Date in respect of the Class A Certificates per $1,000 original certificate principal amount.
       
 
       
1. The total amount of the distribution:
  $ 2.64  
2. The amount of the distribution in respect of Class A Monthly Interest:
  $ 2.64  
3. The amount of the distribution in respect of Class A Outstanding Monthly Interest:
  $ 0.00  
4. The amount of the distribution in respect of Class A Additional Interest:
  $ 0.00  
5. The amount of the distribution in respect of principal of the Class A Certificates:
  $ 0.00  
 
       
E. Class A Investor Charge-Offs and Reimbursement of Class A Investor Charge-Offs.
       
 
       
1. The total amount of Class A Investor Charge-Offs:
  $ 0.00  
2. The amount of Class A Investor Charge- Offs per $1,000 original certificate principal amount:
  $ 0.00  
3. The total amount reimbursed in respect of Class A Investor Charge-Offs:
  $ 0.00  
4. The amount reimbursed in respect of Class A Investor Charge-Offs per $1,000 original certificate principal amount:
  $ 0.00  
5. The amount, if any, by which the outstanding principal balance of the Class A Certificates exceeds the Class A Invested Amount after giving effect to all transactions on such Distribution Date:
  $ 0.00  
 
       
F. Information regarding distributions in respect of the Class B Certificates, per $1,000 original certificate principal amount.
       
 
       
1. The total amount of the distribution in respect of Class B Certificates:
  $ 3.39  
2. The amount of the distribution in respect of Class B Monthly Interest:
  $ 3.39  
3. The amount of the distribution in respect of Class B Outstanding Monthly Interest:
  $ 0.00  
4. The amount of the distribution in respect of Class B Additional Interest:
  $ 0.00  
5. The amount of the distribution in respect of principal of the Class B Certificates:
  $ 0.00  

- 169 -


 

         
G. Amount of reductions in Class B Invested Amount pursuant to clauses (c), (d), and (e) of the definition of Class B Invested Amount on such Distribution Date.
       
 
       
1. The amount of reductions in Class B Invested Amount pursuant to clauses (c), (d), and (e) of the definition of Class B Invested Amount:
  $ 0.00  
2. The amount of reductions in the Class B Invested Amount, per $1,000 original certificate principal amount:
  $ 0.00  
3. The total amount reimbursed in respect of such reductions in the Class B Invested Amount:
  $ 0.00  
4. The amount reimbursed in respect of such reductions in the Class B Invested Amount, per $1,000 original certificate principal amount:
  $ 0.00  
5. The amount, if any, by which the outstanding principal balance of the Class B Certificates exceeds the Class B Invested Amount after giving effect to all transactions on such Distribution Date:
  $ 0.00  
 
       
H. Information regarding distributions on the Distribution Date to the Collateral Interest Holder.
       
 
       
1. The total amount distributed to the Collateral Interest Holder:
  $ 24,293,369.37  
2. The amount of the distribution in respect of Collateral Minimum Monthly Interest:
  $ 812,273.99  
3. The amount of the distribution in respect of Collateral Additional Interest:
  $ 0.00  
4. The amount distributed to the Collateral Interest Holder in respect of principal on the Collateral Invested Amount:
  $ 0.00  
5. The amount distributed to the Collateral Interest Holder in respect of remaining Excess Spread:
  $ 23,481,095.38  

- 170 -


 

         
I. Amount of reductions in Collateral Invested Amount pursuant to clauses (c), (d), and (e) of the definition of Collateral Invested Amount.
       
 
       
1. The amount of reductions in the Collateral Invested Amount pursuant to clauses (c), (d), and (e) of the definition of Collateral Invested Amount:
  $ 0.00  
2. The total amount reimbursed in respect of such reductions in the Collateral Invested Amount:
  $ 0.00  
 
       
J. Application of Reallocated Investor Finance Charge Collections.
       
 
       
1. Class A Available Funds:
  $ 42,967,299.61  
a. Class A Monthly Interest:
  $ 6,674,856.83  
b. Class A Outstanding Monthly Interest:
  $ 0.00  
c. Class A Additional Interest:
  $ 0.00  
d. Class A Investor Default Amount (treated as Available Principal Collections):
  $ 11,027,114.26  
e. Excess Spread:
  $ 25,265,328.52  
2. Class B Available Funds:
  $ 2,685,456.23  
a. Class B Monthly Interest:
  $ 535,772.30  
b. Class B Outstanding Monthly Interest:
  $ 0.00  
c. Class B Additional Interest:
  $ 0.00  
d. Excess Spread:
  $ 2,149,683.93  
3. Collateral Available Funds:
  $ 3,173,720.99  
a. Excess Spread:
  $ 3,173,720.99  
4. Total Excess Spread:
  $ 30,588,733.44  

- 171 -


 

         
K. Reallocated Principal Collections.
       
 
       
1. Principal Allocation Percentage:
    78.1923 %
2. Series 2008-1 Allocable Principal Collections:
  $ 874,660,319.81  
3. Principal Allocation Percentage of Series 2008-1 Allocable Principal Collections:
  $ 683,917,253.68  
4. Reallocated Principal Collections Required to fund the Required Amount:
  $ 0.00  
5. Item 3 minus item 4:
  $ 683,917,253.68  
6. Shared Principal Collections from other Series allocated to Series 2008-1:
  $ 0.00  
7. Other amounts treated as Available Principal Collections:
  $ 12,530,811.66  
8. Available Principal Collections (total of items 5., 6. & 7.):
  $ 696,448,065.34  
 
       
L. Application of Available Principal Collections during Revolving Period.
       
 
       
1. Collateral Invested Amount:
  $ 186,875,000.00  
2. Required Collateral Invested Amount:
  $ 186,875,000.00  
3. Excess of Collateral Invested Amount over Required Collateral Invested Amount:
  $ 0.00  
4. Treated as Shared Principal Collections:
  $ 696,448,065.34  
 
       
M. Application of Principal Collections During Accumulation or Amortization Period.
       
 
       
1. Principal Funding Account:
  $ 0.00  
2. Excess of Collateral Invested Amount over Required Collateral Invested Amount:
  $ 0.00  
3. Distribution of Principal:
  $ 0.00  
4. Treated as Shared Principal Collections:
  $ 0.00  

- 172 -


 

         
N. Application of Excess Spread and Excess Finance Charge Collections Allocated to Series 2008-1.
       
 
       
1. Excess Spread:
  $ 30,588,733.44  
2. Excess Finance Charge Collections:
  $ 0.00  
3. Applied to fund Class A Required Amount:
  $ 0.00  
4. Class A Investor Charge-Offs treated as Available Principal Collections:
  $ 0.00  
5. Applied to fund overdue Class B Interest:
  $ 0.00  
6. Applied to fund Class B Required Amount:
  $ 689,194.64  
7. Reduction of Class B Invested Amount treated as Available Principal Collections:
  $ 0.00  
8. Applied to Collateral Minimum Monthly Interest:
  $ 812,273.99  
9. Applied to unpaid Monthly Servicing Fee:
  $ 4,791,666.67  
10. Collateral Default Amount treated as Available Principal Collections:
  $ 814,502.76  
11. Reduction of Collateral Invested Amount treated as Available Principal Collections:
  $ 0.00  
12. Deposited to Reserve Account:
  $ 0.00  
13. Remaining Excess Spread distributed to Collateral Interest Holder:
  $ 23,481,095.38  
 
       
O. Yield and Base Rate.
       
 
       
1. Base Rate:
       
a. Current Monthly Period:
    5.4230 %
b. Prior Monthly Period:
    5.5959 %
c. Second Prior Monthly Period:
    5.7685 %
2. Three Month Average Base Rate:
    5.5958 %
3. Series Adjusted Portfolio Yield:
       
a. Current Monthly Period:
    15.3599 %
b. Prior Monthly Period:
    16.4881 %
c. Second Prior Monthly Period:
    16.6219 %
4. Three Month Average Series Adjusted Portfolio Yield:
    16.1566 %
5. Is the 3 month average Series Adjusted Portfolio Yield more than the 3 month average Base Rate?
  Yes  

- 173 -


 

Series 2008-2 Certificates
                         
            Total Investor        
A. Investor/Transferor Allocations   Series Allocations     Interest     Transferors’ Interest  
Beginning Invested Amount/Transferor Amount
    1,743,953,735.30       1,363,638,000.00       380,315,735.30  
Beginning Adjusted Invested Amount
    N/A       1,363,638,000.00       N/A  
Floating Allocation Percentage
    N/A       78.1923 %     21.8077 %
Principal Allocation Percentage
    N/A       78.1923 %     21.8077 %
Collections of Finance Charge Receivables
    29,211,777.28       22,841,368.29       6,370,408.99  
Collections of Principal Receivables
    414,859,147.54       324,388,019.47       90,471,128.07  
Defaulted Amount
    7,601,097.67       5,943,475.11       1,657,622.56  
 
                       
Ending Invested Amount / Transferor Amount
    1,739,857,127.83       1,363,638,000.00       376,219,127.83  
                                 
B. Monthly Period Funding Requirements   Class A     Class B     Collateral Interest     Total  
Principal Funding Account Balance
    0.00       0.00       0.00       0.00  
Investment Proceeds for Monthly Period
    0.00       0.00       0.00       0.00  
Reserve Account Opening Balance
    0.00       0.00       0.00       0.00  
Reserve Account Deposit
    0.00       0.00       0.00       0.00  
Reserve Draw Amount
    0.00       0.00       0.00       0.00  
Reserve Account Surplus
    0.00       0.00       0.00       0.00  
Reserve Account Closing Balance
    0.00       0.00       0.00       0.00  
 
                               
LIBOR Determination Date
  April 11, 2008     April 11, 2008     April 11, 2008          
Coupon April 15, 2008 - May 14, 2008
    3.9759 %     6.4659 %     7.7159 %        
Monthly Interest Due
    3,975,940.00       404,126.64       569,931.48       4,949,998.12  
Outstanding Monthly Interest Due
    0.00       0.00       0.00       0.00  
Additional Interest Due
    0.00       0.00       0.00       0.00  
Total Interest Due
    3,975,940.00       404,126.64       569,931.48       4,949,998.12  
Investor Default Amount
    5,230,251.82       326,895.10       386,328.19       5,943,475.11  
Investor Monthly Fees Due
    2,000,000.00       125,001.67       147,728.33       2,272,730.00  
Investor Additional Amounts Due
    0.00       0.00       0.00       0.00  
Total Due
    11,206,191.82       856,023.41       1,103,988.00       13,166,203.23  
 
                               
Reallocated Investor Finance Charge Collections
                            24,303,495.04  
Interest and Principal Funding Investment Proceeds
                            0.00  
Interest on Reserve Account
                            0.00  
Series Adjusted Portfolio Yield
                            16.3812 %
Base Rate
                            6.4443 %
Excess Spread Percentage
                            9.8008 %
                                 
C. Certificates - Balances and Distributions   Class A     Class B     Collateral Interest     Total  
Beginning Certificates Balance
    1,200,000,000.00       75,001,000.00       88,637,000.00       1,363,638,000.00  
Distributions of Interest
    3,975,940.00       404,126.64       569,931.48       4,949,998.12  
Deposits to the Principal Funding Account
    0.00       0.00       0.00       0.00  
Distributions of Principal
    0.00       0.00       0.00       0.00  
Total Distributions
    3,975,940.00       404,126.64       569,931.48       4,949,998.12  
Ending Certificates Balance
    1,200,000,000.00       75,001,000.00       88,637,000.00       1,363,638,000.00  

- 174 -


 

         
D. Information regarding distributions on the Distribution Date in respect of the Class A Certificates per $1,000 original certificate principal amount.
       
 
       
1. The total amount of the distribution:
  $ 3.31  
2. The amount of the distribution in respect of Class A Monthly Interest:
  $ 3.31  
3. The amount of the distribution in respect of Class A Outstanding Monthly Interest:
  $ 0.00  
4. The amount of the distribution in respect of Class A Additional Interest:
  $ 0.00  
5. The amount of the distribution in respect of principal of the Class A Certificates:
  $ 0.00  
 
       
E. Class A Investor Charge-Offs and Reimbursement of Class A Investor Charge-Offs.
       
 
       
1. The total amount of Class A Investor Charge-Offs:
  $ 0.00  
2. The amount of Class A Investor Charge- Offs per $1,000 original certificate principal amount:
  $ 0.00  
3. The total amount reimbursed in respect of Class A Investor Charge-Offs:
  $ 0.00  
4. The amount reimbursed in respect of Class A Investor Charge-Offs per $1,000 original certificate principal amount:
  $ 0.00  
5. The amount, if any, by which the outstanding principal balance of the Class A Certificates exceeds the Class A Invested Amount after giving effect to all transactions on such Distribution Date:
  $ 0.00  
 
       
F. Information regarding distributions in respect of the Class B Certificates, per $1,000 original certificate principal amount.
       
 
       
1. The total amount of the distribution in respect of Class B Certificates:
  $ 5.39  
2. The amount of the distribution in respect of Class B Monthly Interest:
  $ 5.39  
3. The amount of the distribution in respect of Class B Outstanding Monthly Interest:
  $ 0.00  
4. The amount of the distribution in respect of Class B Additional Interest:
  $ 0.00  
5. The amount of the distribution in respect of principal of the Class B Certificates:
  $ 0.00  

- 175 -


 

         
G. Amount of reductions in Class B Invested Amount pursuant to clauses (c), (d), and (e) of the definition of Class B Invested Amount on such Distribution Date.
       
 
       
1. The amount of reductions in Class B Invested Amount pursuant to clauses (c), (d), and (e) of the definition of Class B Invested Amount:
  $ 0.00  
2. The amount of reductions in the Class B Invested Amount, per $1,000 original certificate principal amount:
  $ 0.00  
3. The total amount reimbursed in respect of such reductions in the Class B Invested Amount:
  $ 0.00  
4. The amount reimbursed in respect of such reductions in the Class B Invested Amount, per $1,000 original certificate principal amount:
  $ 0.00  
5. The amount, if any, by which the outstanding principal balance of the Class B Certificates exceeds the Class B Invested Amount after giving effect to all transactions on such Distribution Date:
  $ 0.00  
 
       
H. Information regarding distributions on the Distribution Date to the Collateral Interest Holder.
       
 
       
1. The total amount distributed to the Collateral Interest Holder:
  $ 11,707,223.29  
2. The amount of the distribution in respect of Collateral Minimum Monthly Interest:
  $ 569,931.48  
3. The amount of the distribution in respect of Collateral Additional Interest:
  $ 0.00  
4. The amount distributed to the Collateral Interest Holder in respect of principal on the Collateral Invested Amount:
  $ 0.00  
5. The amount distributed to the Collateral Interest Holder in respect of remaining Excess Spread:
  $ 11,137,291.81  

- 176 -


 

         
I. Amount of reductions in Collateral Invested Amount pursuant to clauses (c), (d), and (e) of the definition of Collateral Invested Amount.
       
 
       
1. The amount of reductions in the Collateral Invested Amount pursuant to clauses (c), (d), and (e) of the definition of Collateral Invested Amount:
  $ 0.00  
2. The total amount reimbursed in respect of such reductions in the Collateral Invested Amount:
  $ 0.00  
 
       
J. Application of Reallocated Investor Finance Charge Collections.
       
 
       
1. Class A Available Funds:
  $ 21,387,049.97  
a. Class A Monthly Interest:
  $ 3,975,940.00  
b. Class A Outstanding Monthly Interest:
  $ 0.00  
c. Class A Additional Interest:
  $ 0.00  
d. Class A Investor Default Amount (treated as Available Principal Collections):
  $ 5,230,251.82  
e. Excess Spread:
  $ 12,180,858.15  
2. Class B Available Funds:
  $ 1,336,708.45  
a. Class B Monthly Interest:
  $ 404,126.64  
b. Class B Outstanding Monthly Interest:
  $ 0.00  
c. Class B Additional Interest:
  $ 0.00  
d. Excess Spread:
  $ 932,581.81  
3. Collateral Available Funds:
  $ 1,579,736.62  
a. Excess Spread:
  $ 1,579,736.62  
4. Total Excess Spread:
  $ 14,693,176.58  

- 177 -


 

         
K. Reallocated Principal Collections.
       
 
       
1. Principal Allocation Percentage:
    78.1923 %
2. Series 2008-2 Allocable Principal Collections:
  $ 414,859,147.54  
3. Principal Allocation Percentage of Series 2008-2 Allocable Principal Collections:
  $ 324,388,019.47  
4. Reallocated Principal Collections Required to fund the Required Amount:
  $ 0.00  
5. Item 3 minus item 4:
  $ 324,388,019.47  
6. Shared Principal Collections from other Series allocated to Series 2008-2:
  $ 0.00  
7. Other amounts treated as Available Principal Collections:
  $ 5,943,475.11  
8. Available Principal Collections (total of items 5., 6. & 7.):
  $ 330,331,494.58  
 
       
L. Application of Available Principal Collections during Revolving Period.
       
 
       
1. Collateral Invested Amount:
  $ 88,637,000.00  
2. Required Collateral Invested Amount:
  $ 88,637,000.00  
3. Excess of Collateral Invested Amount over Required Collateral Invested Amount:
  $ 0.00  
4. Treated as Shared Principal Collections:
  $ 330,331,494.58  
 
       
M. Application of Principal Collections During Accumulation or Amortization Period.
       
 
       
1. Principal Funding Account:
  $ 0.00  
2. Excess of Collateral Invested Amount over Required Collateral Invested Amount:
  $ 0.00  
3. Distribution of Principal:
  $ 0.00  
4. Treated as Shared Principal Collections:
  $ 0.00  

- 178 -


 

         
N. Application of Excess Spread and Excess Finance Charge Collections Allocated to Series 2008-2.
       
 
       
1. Excess Spread:
  $ 14,693,176.58  
2. Excess Finance Charge Collections:
  $ 0.00  
3. Applied to fund Class A Required Amount:
  $ 0.00  
4. Class A Investor Charge-Offs treated as Available Principal Collections:
  $ 0.00  
5. Applied to fund overdue Class B Interest:
  $ 0.00  
6. Applied to fund Class B Required Amount:
  $ 326,895.10  
7. Reduction of Class B Invested Amount treated as Available Principal Collections:
  $ 0.00  
8. Applied to Collateral Minimum Monthly Interest:
  $ 569,931.48  
9. Applied to unpaid Monthly Servicing Fee:
  $ 2,272,730.00  
10. Collateral Default Amount treated as Available Principal Collections:
  $ 386,328.19  
11. Reduction of Collateral Invested Amount treated as Available Principal Collections:
  $ 0.00  
12. Deposited to Reserve Account:
  $ 0.00  
13. Remaining Excess Spread distributed to Collateral Interest Holder:
  $ 11,137,291.81  
 
       
O. Yield and Base Rate.
       
 
       
1. Base Rate:
       
a. Current Monthly Period:
    6.4443 %
b. Prior Monthly Period:
    6.6172 %
c. Second Prior Monthly Period:
    6.7860 %
2. Three Month Average Base Rate:
    6.6158 %
3. Series Adjusted Portfolio Yield:
       
a. Current Monthly Period:
    16.3812 %
b. Prior Monthly Period:
    17.4754 %
c. Second Prior Monthly Period:
    16.5477 %
4. Three Month Average Series Adjusted Portfolio Yield:
    16.8014 %
5. Is the 3 month average Series Adjusted Portfolio Yield more than the 3 month average Base Rate?
  Yes  

- 179 -


 

Series 2008-3 Certificates
                         
            Total Investor        
A. Investor/Transferor Allocations   Series Allocations     Interest     Transferors’ Interest  
Beginning Invested Amount/Transferor Amount
    2,179,941,529.68       1,704,547,000.00       475,394,529.68  
Beginning Adjusted Invested Amount
    N/A       1,704,547,000.00       N/A  
Floating Allocation Percentage
    N/A       78.1923 %     21.8077 %
Principal Allocation Percentage
    N/A       78.1923 %     21.8077 %
Collections of Finance Charge Receivables
    36,514,710.89       28,551,701.99       7,963,008.90  
Collections of Principal Receivables
    518,573,782.31       405,484,905.39       113,088,876.92  
Defaulted Amount
    9,501,369.30       7,429,341.71       2,072,027.59  
 
                       
Ending Invested Amount / Transferor Amount
    2,174,820,771.84       1,704,547,000.00       470,273,771.84  
                                 
B. Monthly Period Funding Requirements   Class A     Class B     Collateral Interest     Total  
Principal Funding Account Balance
    0.00       0.00       0.00       0.00  
Investment Proceeds for Monthly Period
    0.00       0.00       0.00       0.00  
Reserve Account Opening Balance
    0.00       0.00       0.00       0.00  
Reserve Account Deposit
    0.00       0.00       0.00       0.00  
Reserve Draw Amount
    0.00       0.00       0.00       0.00  
Reserve Account Surplus
    0.00       0.00       0.00       0.00  
Reserve Account Closing Balance
    0.00       0.00       0.00       0.00  
 
                               
LIBOR Determination Date
  April 15, 2008     April 15, 2008     April 15, 2008          
Coupon April 17, 2008 - May 14, 2008
    3.6663 %     6.2163 %     8.2163 %        
Monthly Interest Due
    4,277,291.67       453,273.06       708,032.61       5,438,597.34  
Outstanding Monthly Interest Due
    0.00       0.00       0.00       0.00  
Additional Interest Due
    0.00       0.00       0.00       0.00  
Total Interest Due
    4,277,291.67       453,273.06       708,032.61       5,438,597.34  
Investor Default Amount
    6,537,814.78       408,617.78       482,909.15       7,429,341.71  
Investor Monthly Fees Due
    2,500,000.00       156,251.67       184,660.00       2,840,911.67  
Investor Additional Amounts Due
    0.00       0.00       0.00       0.00  
Total Due
    13,315,106.45       1,018,142.51       1,375,601.76       15,708,850.72  
 
                               
Reallocated Investor Finance Charge Collections
                            29,630,461.39  
Interest and Principal Funding Investment Proceeds
                            0.00  
Interest on Reserve Account
                            0.00  
Series Adjusted Portfolio Yield
                            15.8467 %
Base Rate
                            6.1870 %
Excess Spread Percentage
                            9.8008 %
                                 
C. Certificates - Balances and Distributions   Class A     Class B     Collateral Interest     Total  
Beginning Certificates Balance
    1,500,000,000.00       93,751,000.00       110,796,000.00       1,704,547,000.00  
Distributions of Interest
    4,277,291.67       453,273.06       708,032.61       5,438,597.34  
Deposits to the Principal Funding Account
    0.00       0.00       0.00       0.00  
Distributions of Principal
    0.00       0.00       0.00       0.00  
Total Distributions
    4,277,291.67       453,273.06       708,032.61       5,438,597.34  
Ending Certificates Balance
    1,500,000,000.00       93,751,000.00       110,796,000.00       1,704,547,000.00  

- 180 -


 

         
D. Information regarding distributions on the Distribution Date in respect of the Class A Certificates per $1,000 original certificate principal amount.
       
 
       
1. The total amount of the distribution:
  $ 2.85  
2. The amount of the distribution in respect of Class A Monthly Interest:
  $ 2.85  
3. The amount of the distribution in respect of Class A Outstanding Monthly Interest:
  $ 0.00  
4. The amount of the distribution in respect of Class A Additional Interest:
  $ 0.00  
5. The amount of the distribution in respect of principal of the Class A Certificates:
  $ 0.00  
 
       
E. Class A Investor Charge-Offs and Reimbursement of Class A Investor Charge-Offs.
       
 
       
1. The total amount of Class A Investor Charge-Offs:
  $ 0.00  
2. The amount of Class A Investor Charge- Offs per $1,000 original certificate principal amount:
  $ 0.00  
3. The total amount reimbursed in respect of Class A Investor Charge-Offs:
  $ 0.00  
4. The amount reimbursed in respect of Class A Investor Charge-Offs per $1,000 original certificate principal amount:
  $ 0.00  
5. The amount, if any, by which the outstanding principal balance of the Class A Certificates exceeds the Class A Invested Amount after giving effect to all transactions on such Distribution Date:
  $ 0.00  
 
       
F. Information regarding distributions in respect of the Class B Certificates, per $1,000 original certificate principal amount.
       
 
       
1. The total amount of the distribution in respect of Class B Certificates:
  $ 4.83  
2. The amount of the distribution in respect of Class B Monthly Interest:
  $ 4.83  
3. The amount of the distribution in respect of Class B Outstanding Monthly Interest:
  $ 0.00  
4. The amount of the distribution in respect of Class B Additional Interest:
  $ 0.00  
5. The amount of the distribution in respect of principal of the Class B Certificates:
  $ 0.00  

- 181 -


 

         
G. Amount of reductions in Class B Invested Amount pursuant to clauses (c), (d), and (e) of the definition of Class B Invested Amount on such Distribution Date.
       
 
       
1. The amount of reductions in Class B Invested Amount pursuant to clauses (c), (d), and (e) of the definition of Class B Invested Amount:
  $ 0.00  
2. The amount of reductions in the Class B Invested Amount, per $1,000 original certificate principal amount:
  $ 0.00  
3. The total amount reimbursed in respect of such reductions in the Class B Invested Amount:
  $ 0.00  
4. The amount reimbursed in respect of such reductions in the Class B Invested Amount, per $1,000 original certificate principal amount:
  $ 0.00  
5. The amount, if any, by which the outstanding principal balance of the Class B Certificates exceeds the Class B Invested Amount after giving effect to all transactions on such Distribution Date:
  $ 0.00  
 
       
H. Information regarding distributions on the Distribution Date to the Collateral Interest Holder.
       
 
       
1. The total amount distributed to the Collateral Interest Holder:
  $ 14,629,643.28  
2. The amount of the distribution in respect of Collateral Minimum Monthly Interest:
  $ 708,032.61  
3. The amount of the distribution in respect of Collateral Additional Interest:
  $ 0.00  
4. The amount distributed to the Collateral Interest Holder in respect of principal on the Collateral Invested Amount:
  $ 0.00  
5. The amount distributed to the Collateral Interest Holder in respect of remaining Excess Spread:
  $ 13,921,610.67  

- 182 -


 

         
I. Amount of reductions in Collateral Invested Amount pursuant to clauses (c), (d), and (e) of the definition of Collateral Invested Amount.
       
 
       
1. The amount of reductions in the Collateral Invested Amount pursuant to clauses (c), (d), and (e) of the definition of Collateral Invested Amount:
  $ 0.00  
2. The total amount reimbursed in respect of such reductions in the Collateral Invested Amount:
  $ 0.00  
 
       
J. Application of Reallocated Investor Finance Charge Collections.
       
 
       
1. Class A Available Funds:
  $ 26,074,782.38  
a. Class A Monthly Interest:
  $ 4,277,291.67  
b. Class A Outstanding Monthly Interest:
  $ 0.00  
c. Class A Additional Interest:
  $ 0.00  
d. Class A Investor Default Amount (treated as Available Principal Collections):
  $ 6,537,814.78  
e. Excess Spread:
  $ 15,259,675.93  
2. Class B Available Funds:
  $ 1,629,691.28  
a. Class B Monthly Interest:
  $ 453,273.06  
b. Class B Outstanding Monthly Interest:
  $ 0.00  
c. Class B Additional Interest:
  $ 0.00  
d. Excess Spread:
  $ 1,176,418.22  
3. Collateral Available Funds:
  $ 1,925,987.73  
a. Excess Spread:
  $ 1,925,987.73  
4. Total Excess Spread:
  $ 18,362,081.88  

- 183 -


 

         
K. Reallocated Principal Collections.
       
 
       
1. Principal Allocation Percentage:
    78.1923 %
2. Series 2008-3 Allocable Principal Collections:
  $ 518,573,782.31  
3. Principal Allocation Percentage of Series 2008-3 Allocable Principal Collections:
  $ 405,484,905.39  
4. Reallocated Principal Collections Required to fund the Required Amount:
  $ 0.00  
5. Item 3 minus item 4:
  $ 405,484,905.39  
6. Shared Principal Collections from other Series allocated to Series 2008-3:
  $ 0.00  
7. Other amounts treated as Available Principal Collections:
  $ 7,429,341.71  
8. Available Principal Collections (total of items 5., 6. & 7.):
  $ 412,914,247.10  
 
       
L. Application of Available Principal Collections during Revolving Period.
       
 
       
1. Collateral Invested Amount:
  $ 110,796,000.00  
2. Required Collateral Invested Amount:
  $ 110,796,000.00  
3. Excess of Collateral Invested Amount over Required Collateral Invested Amount:
  $ 0.00  
4. Treated as Shared Principal Collections:
  $ 412,914,247.10  
 
       
M. Application of Principal Collections During Accumulation or Amortization Period.
       
 
       
1. Principal Funding Account:
  $ 0.00  
2. Excess of Collateral Invested Amount over Required Collateral Invested Amount:
  $ 0.00  
3. Distribution of Principal:
  $ 0.00  
4. Treated as Shared Principal Collections:
  $ 0.00  

- 184 -


 

         
N. Application of Excess Spread and Excess Finance Charge Collections Allocated to Series 2008-3.
       
 
       
1. Excess Spread:
  $ 18,362,081.88  
2. Excess Finance Charge Collections:
  $ 0.00  
3. Applied to fund Class A Required Amount:
  $ 0.00  
4. Class A Investor Charge-Offs treated as Available Principal Collections:
  $ 0.00  
5. Applied to fund overdue Class B Interest:
  $ 0.00  
6. Applied to fund Class B Required Amount:
  $ 408,617.78  
7. Reduction of Class B Invested Amount treated as Available Principal Collections:
  $ 0.00  
8. Applied to Collateral Minimum Monthly Interest:
  $ 708,032.61  
9. Applied to unpaid Monthly Servicing Fee:
  $ 2,840,911.67  
10. Collateral Default Amount treated as Available Principal Collections:
  $ 482,909.15  
11. Reduction of Collateral Invested Amount treated as Available Principal Collections:
  $ 0.00  
12. Deposited to Reserve Account:
  $ 0.00  
13. Remaining Excess Spread distributed to Collateral Interest Holder:
  $ 13,921,610.67  
 
       
O. Yield and Base Rate.
       
 
       
1. Base Rate:
       
a. Current Monthly Period:
    6.1870 %
b. Prior Monthly Period:
    N/A  
c. Second Prior Monthly Period:
    N/A  
2. Three Month Average Base Rate:
    N/A  
3. Series Adjusted Portfolio Yield:
       
a. Current Monthly Period:
    15.8467 %
b. Prior Monthly Period:
    N/A  
c. Second Prior Monthly Period:
    N/A  
4. Three Month Average Series Adjusted Portfolio Yield:
    N/A  
5. Is the 3 month average Series Adjusted Portfolio Yield more than the 3 month average base rate:?
    N/A  

- 185 -


 

Series 2008-4 Certificates
                         
            Total Investor        
A. Investor/Transferor Allocations   Series Allocations     Interest     Transferors’ Interest  
Beginning Invested Amount/Transferor Amount
    777,513,634.19       607,956,000.00       169,557,634.19  
Beginning Adjusted Invested Amount
    N/A       607,956,000.00       N/A  
Floating Allocation Percentage
    N/A       78.1923 %     21.8077 %
Principal Allocation Percentage
    N/A       78.1923 %     21.8077 %
Collections of Finance Charge Receivables
    13,023,599.57       10,183,455.51       2,840,144.06  
Collections of Principal Receivables
    184,958,257.18       144,623,164.48       40,335,092.70  
Defaulted Amount
    3,388,826.75       2,649,802.48       739,024.27  
 
                       
Ending Invested Amount / Transferor Amount
    775,687,227.85       607,956,000.00       167,731,227.85  
                                 
B. Monthly Period Funding Requirements   Class A     Class B     Collateral Interest     Total  
Principal Funding Account Balance
    0.00       0.00       0.00       0.00  
Investment Proceeds for Monthly Period
    0.00       0.00       0.00       0.00  
Reserve Account Opening Balance
    0.00       0.00       0.00       0.00  
Reserve Account Deposit
    0.00       0.00       0.00       0.00  
Reserve Draw Amount
    0.00       0.00       0.00       0.00  
Reserve Account Surplus
    0.00       0.00       0.00       0.00  
Reserve Account Closing Balance
    0.00       0.00       0.00       0.00  
 
                               
LIBOR Determination Date
  April 15, 2008     April 15, 2008     April 15, 2008          
Coupon April 17, 2008 - May 14, 2008
    4.1163 %     6.9663 %     9.2163 %        
Monthly Interest Due
    1,712,817.36       181,173.59       283,272.71       2,177,263.66  
Outstanding Monthly Interest Due
    0.00       0.00       0.00       0.00  
Additional Interest Due
    0.00       0.00       0.00       0.00  
Total Interest Due
    1,712,817.36       181,173.59       283,272.71       2,177,263.66  
Investor Default Amount
    2,331,820.60       145,740.97       172,240.91       2,649,802.48  
Investor Monthly Fees Due
    891,666.67       55,730.00       65,863.33       1,013,260.00  
Investor Additional Amounts Due
    0.00       0.00       0.00       0.00  
Total Due
    4,936,304.63       382,644.56       521,376.95       5,840,326.14  
 
                               
Reallocated Investor Finance Charge Collections
                            10,805,707.99  
Interest and Principal Funding Investment Proceeds
                            0.00  
Interest on Reserve Account
                            0.00  
Series Adjusted Portfolio Yield
                            16.3219 %
Base Rate
                            6.6962 %
Excess Spread Percentage
                            9.8008 %
                                 
C. Certificates - Balances and Distributions   Class A     Class B     Collateral Interest     Total  
Beginning Certificates Balance
    535,000,000.00       33,438,000.00       39,518,000.00       607,956,000.00  
Distributions of Interest
    1,712,817.36       181,173.59       283,272.71       2,177,263.66  
Deposits to the Principal Funding Account
    0.00       0.00       0.00       0.00  
Distributions of Principal
    0.00       0.00       0.00       0.00  
Total Distributions
    1,712,817.36       181,173.59       283,272.71       2,177,263.66  
Ending Certificates Balance
    535,000,000.00       33,438,000.00       39,518,000.00       607,956,000.00  

- 186 -


 

         
D. Information regarding distributions on the Distribution Date in respect of the Class A Certificates per $1,000 original certificate principal amount.
       
 
       
1. The total amount of the distribution:
  $ 3.20  
2. The amount of the distribution in respect of Class A Monthly Interest:
  $ 3.20  
3. The amount of the distribution in respect of Class A Outstanding Monthly Interest:
  $ 0.00  
4. The amount of the distribution in respect of Class A Additional Interest:
  $ 0.00  
5. The amount of the distribution in respect of principal of the Class A Certificates:
  $ 0.00  
 
       
E. Class A Investor Charge-Offs and Reimbursement of Class A Investor Charge-Offs.
       
 
       
1. The total amount of Class A Investor Charge-Offs:
  $ 0.00  
2. The amount of Class A Investor Charge- Offs per $1,000 original certificate principal amount:
  $ 0.00  
3. The total amount reimbursed in respect of Class A Investor Charge-Offs:
  $ 0.00  
4. The amount reimbursed in respect of Class A Investor Charge-Offs per $1,000 original certificate principal amount:
  $ 0.00  
5. The amount, if any, by which the outstanding principal balance of the Class A Certificates exceeds the Class A Invested Amount after giving effect to all transactions on such Distribution Date:
  $ 0.00  
 
       
F. Information regarding distributions in respect of the Class B Certificates, per $1,000 original certificate principal amount.
       
 
       
1. The total amount of the distribution in respect of Class B Certificates:
  $ 5.42  
2. The amount of the distribution in respect of Class B Monthly Interest:
  $ 5.42  
3. The amount of the distribution in respect of Class B Outstanding Monthly Interest:
  $ 0.00  
4. The amount of the distribution in respect of Class B Additional Interest:
  $ 0.00  
5. The amount of the distribution in respect of principal of the Class B Certificates:
  $ 0.00  

- 187 -


 

         
G. Amount of reductions in Class B Invested Amount pursuant to clauses (c), (d), and (e) of the definition of Class B Invested Amount on such Distribution Date.
       
 
       
1. The amount of reductions in Class B Invested Amount pursuant to clauses (c), (d), and (e) of the definition of Class B Invested Amount:
  $ 0.00  
2. The amount of reductions in the Class B Invested Amount, per $1,000 original certificate principal amount:
  $ 0.00  
3. The total amount reimbursed in respect of such reductions in the Class B Invested Amount:
  $ 0.00  
4. The amount reimbursed in respect of such reductions in the Class B Invested Amount, per $1,000 original certificate principal amount:
  $ 0.00  
5. The amount, if any, by which the outstanding principal balance of the Class B Certificates exceeds the Class B Invested Amount after giving effect to all transactions on such Distribution Date:
  $ 0.00  
 
       
H. Information regarding distributions on the Distribution Date to the Collateral Interest Holder.
       
 
       
1. The total amount distributed to the Collateral Interest Holder:
  $ 5,248,654.55  
2. The amount of the distribution in respect of Collateral Minimum Monthly Interest:
  $ 283,272.71  
3. The amount of the distribution in respect of Collateral Additional Interest:
  $ 0.00  
4. The amount distributed to the Collateral Interest Holder in respect of principal on the Collateral Invested Amount:
  $ 0.00  
5. The amount distributed to the Collateral Interest Holder in respect of remaining Excess Spread:
  $ 4,965,381.84  

- 188 -


 

         
I. Amount of reductions in Collateral Invested Amount pursuant to clauses (c), (d), and (e) of the definition of Collateral Invested Amount.
       
 
       
1. The amount of reductions in the Collateral Invested Amount pursuant to clauses (c), (d), and (e) of the definition of Collateral Invested Amount:
  $ 0.00  
2. The total amount reimbursed in respect of such reductions in the Collateral Invested Amount:
  $ 0.00  
 
       
J. Application of Reallocated Investor Finance Charge Collections.
       
 
       
1. Class A Available Funds:
  $ 9,509,000.28  
a. Class A Monthly Interest:
  $ 1,712,817.36  
b. Class A Outstanding Monthly Interest:
  $ 0.00  
c. Class A Additional Interest:
  $ 0.00  
d. Class A Investor Default Amount (treated as Available Principal Collections):
  $ 2,331,820.60  
e. Excess Spread:
  $ 5,464,362.32  
2. Class B Available Funds:
  $ 594,321.40  
a. Class B Monthly Interest:
  $ 181,173.59  
b. Class B Outstanding Monthly Interest:
  $ 0.00  
c. Class B Additional Interest:
  $ 0.00  
d. Excess Spread:
  $ 413,147.81  
3. Collateral Available Funds:
  $ 702,386.30  
a. Excess Spread:
  $ 702,386.30  
4. Total Excess Spread:
  $ 6,579,896.43  

- 189 -


 

         
K. Reallocated Principal Collections.
       
 
       
1. Principal Allocation Percentage:
    78.1923 %
2. Series 2008-4 Allocable Principal Collections:
  $ 184,958,257.18  
3. Principal Allocation Percentage of Series 2008-4 Allocable Principal Collections:
  $ 144,623,164.48  
4. Reallocated Principal Collections Required to fund the Required Amount:
  $ 0.00  
5. Item 3 minus item 4:
  $ 144,623,164.48  
6. Shared Principal Collections from other Series allocated to Series 2008-4:
  $ 0.00  
7. Other amounts treated as Available Principal Collections:
  $ 2,649,802.48  
8. Available Principal Collections (total of items 5., 6. & 7.):
  $ 147,272,966.96  
 
       
L. Application of Available Principal Collections during Revolving Period.
       
 
       
1. Collateral Invested Amount:
  $ 39,518,000.00  
2. Required Collateral Invested Amount:
  $ 39,518,000.00  
3. Excess of Collateral Invested Amount over Required Collateral Invested Amount:
  $ 0.00  
4. Treated as Shared Principal Collections:
  $ 147,272,966.96  
 
       
M. Application of Principal Collections During Accumulation or Amortization Period.
       
 
       
1. Principal Funding Account:
  $ 0.00  
2. Excess of Collateral Invested Amount over Required Collateral Invested Amount:
  $ 0.00  
3. Distribution of Principal:
  $ 0.00  
4. Treated as Shared Principal Collections:
  $ 0.00  

- 190 -


 

         
N. Application of Excess Spread and Excess Finance Charge Collections Allocated to Series 2008-4.
       
 
       
1. Excess Spread:
  $ 6,579,896.43  
2. Excess Finance Charge Collections:
  $ 0.00  
3. Applied to fund Class A Required Amount:
  $ 0.00  
4. Class A Investor Charge-Offs treated as Available Principal Collections:
  $ 0.00  
5. Applied to fund overdue Class B Interest:
  $ 0.00  
6. Applied to fund Class B Required Amount:
  $ 145,740.97  
7. Reduction of Class B Invested Amount treated as Available Principal Collections:
  $ 0.00  
8. Applied to Collateral Minimum Monthly Interest:
  $ 283,272.71  
9. Applied to unpaid Monthly Servicing Fee:
  $ 1,013,260.00  
10. Collateral Default Amount treated as Available Principal Collections:
  $ 172,240.91  
11. Reduction of Collateral Invested Amount treated as Available Principal Collections:
  $ 0.00  
12. Deposited to Reserve Account:
  $ 0.00  
13. Remaining Excess Spread distributed to Collateral Interest Holder:
  $ 4,965,381.84  
 
       
O. Yield and Base Rate.
       
 
       
1. Base Rate:
       
a. Current Monthly Period:
    6.6962 %
b. Prior Monthly Period:
    N/A  
c. Second Prior Monthly Period:
    N/A  
2. Three Month Average Base Rate:
    N/A  
3. Series Adjusted Portfolio Yield:
       
a. Current Monthly Period:
    16.3219 %
b. Prior Monthly Period:
    N/A  
c. Second Prior Monthly Period:
    N/A  
4. Three Month Average Series Adjusted Portfolio Yield:
    N/A  
5. Is the 3 month average Series Adjusted Portfolio Yield more than the 3 month average base rate:?
    N/A  

- 191 -