0000906328-01-500029.txt : 20011029 0000906328-01-500029.hdr.sgml : 20011029 ACCESSION NUMBER: 0000906328-01-500029 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 3 CONFORMED PERIOD OF REPORT: 20011015 ITEM INFORMATION: Financial statements and exhibits FILED AS OF DATE: 20011024 FILER: COMPANY DATA: COMPANY CONFORMED NAME: HOUSEHOLD FINANCE CORP HOUSEHOLD AFF CRE CAR MAS TR I CENTRAL INDEX KEY: 0000906328 STANDARD INDUSTRIAL CLASSIFICATION: ASSET-BACKED SECURITIES [6189] IRS NUMBER: 880300291 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-23942 FILM NUMBER: 1765016 BUSINESS ADDRESS: STREET 1: 2700 SANDERS RD CITY: PROPSECT HEIGHTS STATE: IL ZIP: 60070 BUSINESS PHONE: 8475645000 MAIL ADDRESS: STREET 1: 2700 SANDERS RD CITY: PROSPECT HEIGHTS STATE: IL ZIP: 60070 8-K 1 affinity.htm SECURITIES AND EXCHANGE COMMISSION

 

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15 (d) of
the Securities Exchange Act of 1934

Date of Report:             October 15, 2001                                                   

                 HOUSEHOLD AFFINITY CREDIT CARD MASTER TRUST I               
(Exact name of registrant as specified in its charter)

                     HOUSEHOLD FINANCE CORPORATION                      
(Administrator of the Trust)
(Exact name as specified in Administrators charter)

        Delware      

(State or other jurisdiction of incorporation of Administrator)

       0-23942       

(Commission File Numbers)

Not Applicable
(IRS Employer Identification Number of Registrant)

   2700 Sanders Road, Prospect Heights, Illinois                        
(Address of principal executive offices of Administrator)

      60070        
(Zip Code)

Administrators telephone number, including area code 847/564-5000

 

 

 

 

 

 

- Page 1 -

 

 

 

 






 

Item 7.     FINANCIAL STATEMENTS AND EXHIBITS

(c)   Exhibits

 

99(a)

Statement to Certificateholders with respect to the distribution on October 15, 2001 provided under Section 6 of the Series 1997-1 Supplement dated as of March 1, 1997 to the Amended and Restated Pooling and Servicing Agreement, with respect to Class A and Class B Credit Card Participation Certificates, Series 1997-1.

99(b)

Statement to Certificateholders with respect to the distribution on October 15, 2001 provided under Section 6 of the Series 1998-1 Supplement dated as of September 1, 1998 to the Amended and Restated Pooling and Servicing Agreement, with respect to Class A and Class B Credit Card Participation Certificates, Series 1998-1.


SIGNATURE

    Pursuant to the requirements of the Securities Exchange Act of 1934, the Administrator has duly caused this report to be signed on behalf of the undersigned hereunto duly authorized.

 

HOUSEHOLD FINANCE CORPORATION,
as Administrator of and on behalf of the
HOUSEHOLD AFFINITY CREDIT CARD MASTER TRUST I
            (Registrant)

 

 

 

By:  /s/ J. W. Blenke                                                 
       J. W. Blenke
       Authorized Representative

Dated: October 24, 2001

- Page 2 -

 












EXHIBIT INDEX

 

 

Exhibit
Number   


Exhibit

99(a)

Statement to Certificateholders with respect to the distribution on October 15, 2001 provided under Section 6 of the Series 1997-1 Supplement dated as of March 1, 1997 to the Amended and Restated Pooling and Servicing Agreement, with respect to Class A and Class B Credit Card Participation Certificates, Series 1997-1.

99(b)

Statement to Certificateholders with respect to the distribution on October 15, 2001 provided under Section 6 of the Series 1998-1 Supplement dated as of September 1, 1998 to the Amended and Restated Pooling and Servicing Agreement, with respect to Class A and Class B Credit Card Participation Certificates, Series 1998-1.

 

 

 

 

- Page 3 -

 

 

 

 
EX-99 3 xhafco1.htm MONTHLY SERVICER'S CERTIFICATE

MONTHLY SERVICER'S CERTIFICATE

(Delivered pursuant to subsection 304(b)

of the Pooling and Servicing Agreement

HOUSEHOLD FINANCE CORPORATION

HOUSEHOLD AFFINITY FUNDING CORPORATION

HOUSEHOLD AFFINITY CREDIT CARD MASTER TRUST 1

Class A and Class B Certificates, Series 1997-1

1This Certificate relates to the Distribution Date occurring on October 15, 2001

2Trust Information

(a)The aggregate amount of Collections processed for the Due Period

preceding such Distribution Date was equal to

$2,010,601,868.97

(b)The aggregate amount of such Collections with respect to Principal

Receivables for the Due Period preceding such Distribution Date was

equal to

$1,908,880,271.40

(i)The payment rate, [ ( (b) + (c)(ii) + (c)(iii) ) / (f) ], is

30.412%

(c)The aggregate amount of such Collections with respect to Finance Charge

and Administrative Receivables and the Defaulted Amount for the Due Period preceding

such Distribution Date was equal to

$101,721,597.57

(i)The gross cash yield, [ ((ii)+(iii)+(iv)+(v)) * 12 / (f) ], is

18.341%

(ii)The amount of such aggregate with respect to Finance Charge was equal to

$60,690,527.97

(iii)The amount of such aggregate with respect to Fees was equal to

$16,267,002.03

(iv)The amount of such aggregate with respect to Interchange was equal to

$22,392,671.57

(v)The amount of such aggregate with respect to Other Recoveries was equal to

$450,565.00

(vi)The amount of such aggregate with respect to Principal Recoveries was equal to

$1,920,831.00

(d)The Gross Defaulted Amount for the preceding Due Period is

$30,966,474.57

(i)The annualized default rate, (d) *12 / (f), is

5.691%

(ii)The annualized net default rate, [(d)-(c)(vi)] *12 / (f), is

5.338%

(e)The Portfolio Yield for such Distribution Date

13.003%

(f)The total amount of Principal Receivables in the Trust at the beginning

of the preceding Due Period is equal to

$6,529,767,785.35

(g)The total amount of Principal Receivables as of the last day of the

immediately preceding Due Period is

$6,581,753,372.21

(h)The average amount of Principal Receivables in the Trust during the

preceding Due Period (the sum of the amounts in clause (f) and the

amount in clause (g) divided by 2) is equal to

$6,555,760,578.78

(i)The total amount of Finance Charge and Administrative Receivables in the

Trust as of the last day of the immediately preceding Due Period is

$156,283,335.37

(j)The aggregate outstanding gross balance of the Accounts which were

1-29 days delinquent as of the close of business on the last

day of the calendar month preceding such Distribution Date was equal to

$200,653,672.21

(k)The aggregate outstanding gross balance of the Accounts which were

30-59 days delinquent as of the close of business on the last

day of the calendar month preceding such Distribution Date was equal to

$73,354,469.10

(l)The aggregate outstanding gross balance of the Accounts which were

60+ days delinquent as of the close of business on the last

day of the calendar month preceding such Distribution Date was equal to

$165,470,237.03

(m)The aggregate amount of Trust Excess Principal Collections for such

Distribution Date is

$1,583,061,598.32

(n)The aggregate amount of Principal Shortfalls for such Distribution Date is

$0.00

3Group Two Information

(a)The Average Rate for Group Two (the weighted average Certificate Rate

reduced to take into account any payments made pursuant to interest

rate agreements, if any ) is equal to

3.670%

(b)Group Two Total Investor Collections is equal to

$306,442,938.30

(c)Group Two Investor Principal Collections is equal to

$290,939,190.03

(d)Group Two Investor Finance Charge and Administrative Collections is equal to

$15,503,748.26

(e)Group Two Investor Additional Amounts is equal to

$0.00

(f)Group Two Investor Default Amount is equal to

$4,719,709.85

(g)Group Two Investor Monthly Fees is equal to

$1,666,666.67

(h)Group Two Investor Monthly Interest is equal to

2,854,678

4Series 1997-1 Information

(a)The Series Adjusted Portfolio Yield for the Due Period preceding such

Distribution Date was equal to

12.941%

(b)The Series 1997-1 Allocation Percentage with respect to the Due

Period preceding such Distribution Date was equal to

16.742%

(c)The Floating Allocation Percentage for the Due Period preceding such

Distribution Date was equal to

91.035%

(d)The aggregate amount of Reallocated Finance Charge and

Administrative Collections for the Due Period preceding

such Distribution Date is equal to

$15,503,748.26

(e)The Floating Allocation Percentage of Series Allocable Finance

Charge and Administrative Collections for the Due Period preceding

such Distribution Date is equal to

$15,503,748.26

(f)Class A Invested Amount

$870,000,000.00

(g)The Class A Invested Percentage with respect to the Due Period

preceding such Distribution Date was equal to

87.000%

(h)The Class A Invested Percentage of the amount set forth in Item 4(d)

above was equal to

$13,488,260.99

(i)The amount of Class A Monthly Interest for such Distribution Date is

equal to

$2,427,541.67

(j)The amount of any Class A Monthly Interest previously due but not

distributed on a prior Distribution Date is equal to

$0.00

(k)The amount of Class A Additional Interest for such Distribution Date

is equal to

$0.00

(l)The amount of any Class A Additional Interest previously due but not

distributed on a prior Distribution Date is equal to

$0.00

(m)The Class A Investor Default Amount for such Distribution Date is

equal to

$4,106,147.57

(n)The Allocable Servicing Fee for such Distribution Date is equal to

$1,666,666.67

(o)The Class A Required Amount, if any, with respect to such

Distribution Date is equal to

$0.00

(p)Class B Invested Amount

$47,500,000.00

(q)The Class B Invested Percentage for the Due Period preceding such

Distribution Date was equal to

4.750%

(r)The Class B Invested Percentage of the amount set forth in Item 4(d)

above is equal to

$736,428.04

(s)The amount of Class B Monthly Interest for such Distribution Date is

equal to

$139,188.19

(t)The amount of any Class B Monthly Interest previously due but not

distributed on a prior Distribution Date is equal to

$0.00

(u)The amount of Class B Additional Interest for such Distribution Date

is equal to

$0.00

(v)The amount of any Class B Additional Interest previously due but not

distributed on a prior Distribution Date is equal to

$0.00

(w)Class B Investor Default Amount for such Distribution Date is equal

to

$224,186.22

(x)The Collateral Invested Percentage of the amount set forth in Item 4(d)

above is equal to

$1,279,059.23

(y)The Series 1997-1 Principal Shortfall for such Distribution Date is

equal to

$0.00

(z)The Series 1997-1 Excess Principal Collections is equal to

$0.00

(aa)The amount of Excess Finance Charge and Administrative Collections

with respect to such Distribution Date is equal to

$7,164,204.16

(bb)The amount of Excess Finance Charge and Administrative Collections

referred to in Item 4(aa) will be available to be distributed on such

Distribution Date to fund or reimburse the following items:

(i)to fund the Class A Required Amount, if any, with

respect to such Distribution Date

$0.00

(ii)to reimburse Class A Investor Charge-Offs

$0.00

(iii)to pay current or overdue Class B Monthly Interest,

Class B Additional Interest or the Cumulative

Excess Interest Amount

$0.00

(iv)to fund the Class B Investor Default Amount with

respect to such Distribution Date

$224,186.22

(v)to reimburse certain previous reductions in the Class B

Invested Amount

$0.00

(vi)to pay the Collateral Monthly Interest for such Distribution

Date equal to

$287,947.92

(vii)to pay any portion of the Allocable Servicing Fee not

paid pursuant to clause (i) above

$0.00

(viii)to fund the Collateral Investor Default Amount with

respect to such Distribution Date

$389,376.06

(ix)to reimburse certain previous reductions in the Collateral

Invested Amount

$0.00

(x)to make any required deposit in the Cash Collateral Account

$0.00

(xi)to make any required deposit to the Reserve Account

$0.00

(cc)The amount of Subordinated Principal Collections with respect to such

Distribution Date is equal to

$37,822,094.70

(dd)The Principal Allocation Percentage is equal to

91.03%

(ee)The total amount to be distributed to Class A Certificateholders on

such Distribution Date in payment of principal is equal to

$0.000000000

(ff)The total amount to be distributed to Class B Certificateholders on

such Distribution Date in payment of principal is equal to

0.00000000%

(gg)The amount of Class A Investor Charge-Offs for such Distribution

Date is equal to

$0.000000000

(hh)The total amount of reimbursements of Class A Investor Charge-Offs

for such Distribution Date is equal to

$0.00

(ii)The amount of Class B Investor Charge-Offs and other reductions in

the Class B Invested Amount for such Distribution Date is equal to

$0.00

(jj)The total amount of reimbursements of Class B Investor Charge-Offs

for such Distribution Date is equal to

$0.00

(kk)The Class A Invested Amount at the close of business on such

Distribution Date (after giving effect to all payments and adjustments

on such Distribution Date) will be equal to

$870,000,000.00

(ll)The Class B Invested Amount at the close of business on such

Distribution Date (after giving effect to all payments and adjustments

on such Distribution Date) will be equal to

$47,500,000.00

(mm)The Available Collateral Amount as of the close of business on the

preceding Distribution Date (after giving effect to any withdrawal

from the Collateral Account) was equal to

82500000

(nn)The Required Collateral Amount as of the close of business on such

Distribution Date, after giving effect to any withdrawal from the

Collateral Account and payments to the Collateral Interest Holder on

such Distribution Date, will be equal to

82,500,000.0000

(oo)The ratio of the Required Collateral Amount to the Class B Invested Amount

as of the close of business on such Distribution Date, after giving effect

to any withdrawal from the Collateral Account and payments to the

Collateral Interest Holder on such Distribution Date, will be equal to

173.684%

(pp)The Available Collateral Amount as of the close of business on

such Distribution Date (after giving effect to any withdrawal

from the Collateral Account) will be equal to

$82,500,000.00

(qq)The Cumulative Excess Interest Amount as of the close of business on

such Distribution Date, after giving effect to any payments of interest

to Class B Certificateholders on such Distribution Date, will be equal to

$0.00

5Total amount to be on deposit in the Collection Account (after giving effect to

allocations required to be made pursuant to the terms of all other Series now

outstanding and to the payment of the Servicer's fee and funding of investor default

amounts) prior to making distributions on such Distribution Dates is equal to

$9,117,371.74

6The total amount to be allocated according to the terms of the Collateral

Agreement on such Distribution Date is equal to

$6,550,641.88

7Total amount to be distributed from the Collection Account to the

Servicer in respect of the unpaid Allocable Servicing Fee for the

preceding Due Period on such Distribution Date (after taking into

consideration the amounts which have been netted with respect to this

Series against deposits to the Collection Account) is equal to

$0.00

8The Class A Adjusted Amount

$870,000,000.00

9The Class B Adjusted Amount

$47,500,000.00

10The Controlled Accumulation Amount

$0.00

11The Controlled Deposit Amount

$0.00

12The Deficit Controlled Accumulation Amount

$0.00

13The Principal Funding Account Balance

$0.00

14The Principal Funding Investment Shortfall

$0.00

15The Required Reserve Account Amount

$1,146,875.00

16The Reserve Account Balance

$1,146,875.00

 

 EX-99 4 xhafco2.htm MONTHLY SERVICER'S CERTIFICATE

Household Finance Corporation

Household Card Funding Corp

September 2001

Household Credit Card Master Trust I , Series 1997-1

Oct 15, 2001

CLASS A CERTIFICATEHOLDER'S STATEMENT

AInformation Regarding Distributions

1 Total distribution per $1,000 interest

$2.790277782

2 Principal distribution per $1,000 interest

$0.00

3 Interest distribution per $1,000 interest

$2.790277782

B Calculation of Class A Interest

1 Calculation of Class A Certificate Rate

(a) One-month LIBOR

3.487500000%

(b) Spread

0.1000%

(c) Class A Certificate Rate

3.587500000%

2 Beginning Principal Amount

$870,000,000.00

3 Days in Interest Period

28

C Performance of Trust

1 Collections of Receivables

(a) Total Collections

$2,010,601,868.97

(b) Collections of Finance Charge and Administrative Receivables

$101,721,597.57

(c) Collections of Principal

$1,908,880,271.40

2 Allocation of Receivables

(a) Class A Invested Percentage

87.00%

(b) Principal Allocation Percentage

91.03%

3 Delinquent Gross Balances

(a) Delinquent 1 - 29 days

$200,653,672.21

% of Gross Receivables

2.98%

(b) Delinquent 30 - 59 days

$73,354,469.10

% of Gross Receivables

1.09%

(c) Delinquent 60+ days

$165,470,237.03

% of Gross Receivables

2.46%

4 Class A Investor Default Amount

$4,106,147.57

5 Class A Investor Charge-offs; Reimbursement of Charge-offs

(a) Class A Investor Charge-offs, if any, for the Distribution Date

$0.00

(b) The amount of Item 5(a) per $1,000 interest

$0.00

(c) Total reimbursed to Trust in respect of Class A Investor Charge-offs

$0.00

(d) The amount of Item 5(c) per $1,000 interest

$0.00

(e) The amount, if any, by which the outstanding principal balance of the

Class A Certificates exceeds the class A Invested Amount as of

the end of the Distribution Date

$0.00

6 Allocable Servicing Fee paid for the Distribution Date

$1,666,666.67

7 Deficit Controlled Accumulation Amount for the Distribution Date

$0.00

DClass A Pool Factor

1.0000000

EReceivables Balances

1 Principal Receivables as of the last day of the preceding Due Period

$6,581,753,372.21

2 Finance Charge and Administrative Receivables as of the last day

$156,283,335.37

of the preceding Due Period

FClass B Certificates

1 Class B Invested Amount as of the end of the Distribution Date

$47,500,000.00

2 Available Collateral Invested Amount as of the end of the Distribution Date

$82,500,000.00

Household Finance Corporation

Household Card Funding Corp

September 2001

Household Credit Card Master Trust I , Series 1997-1

Oct 15, 2001

CLASS B CERTIFICATEHOLDER'S STATEMENT

AInformation Regarding Distributions

1 Total distribution per $1,000 interest

$2.930277684

2 Principal distribution per $1,000 interest

$0.00

3 Interest distribution per $1,000 interest

$2.930277684

B Calculation of Class B Interest

1 Calculation of Class B Certificate Rate

(a) One-month LIBOR

3.487500000%

(b) Spread

0.2800%

(c) Class B Certificate Rate

3.767500000%

2 Beginning Invested Amount

$47,500,000.00

3 Days in Interest Period

28

C Performance of Trust

1 Collections of Receivables

(a) Total Collections

$2,010,601,868.97

(b) Collections of Finance Charge and Administrative Receivables

$101,721,597.57

(c) Collections of Principal

$1,908,880,271.40

2 Allocation of Receivables

(a) Class B Invested Percentage

4.750%

(b) Principal Allocation Percentage

91.035%

3 Delinquent Gross Balances

(a) Delinquent 1 - 29 days

$200,653,672.21

% of Gross Receivables

2.98%

(b) Delinquent 30 - 59 days

$73,354,469.10

% of Gross Receivables

1.09%

(c) Delinquent 60+ days

$165,470,237.03

% of Gross Receivables

2.46%

4 Class B Investor Default Amount

$224,186.22

5 Class B Investor Charge-offs; Reimbursement of Charge-offs

(a) Class B Investor Charge-offs, if any, for the Distribution Date

$0.00

(b) The amount of Item 5(a) per $1,000 interest

$0.00

(c) Total reimbursed to Trust in respect of Class B Investor Charge-offs

$0.00

(d) The amount of Item 5(c) per $1,000 interest

$0.00

(e) The amount, if any, by which the outstanding principal balance of the

$0.00

Class B Certificates exceeds the Class B Invested Amount as of

the end of the Distribution Date

6 Available Cash Collateral Amount

(a) Available Cash Collateral Amount at the end of the Distribution Date

$0.00

(b) Available Cash Collateral Amount as a percent of the Class B

0.00%

Invested Amount, each at the end of the Distribution Date

7 Available Collateral Invested Amount

$82,500,000.00

8 Deficit Controlled Accumulation Amount for the Distribution Date

$0.00

DClass B Pool Factor

1.00000000

EReceivables Balances

1 Principal Receivables as of the last day of the preceding Due Period

$6,581,753,372.21

2 Finance Charge and Administrative Receivables as of the last day

$156,283,335.37

of the preceding Due Period