8-K 1 eqc021_edgar0208.txt EQCC RECEIVABLES CORP, EQCC TRUST SERIES 2002-1 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 (Date of earliest event reported): August 25, 2002 EQCC Receivables Corporation (Depositor) North Carolina 33-66152 59-3170055 (State or other (Commission File No.) (I.R.S. Employer jurisdiction of Identification No.) organization) 10401 Deerwood Park Blvd, Jacksonville, FL 32256 (Address of principal executive offices) (Zip Code) Registrant's Telephone Number, including area code: 907-987-5000 Not Applicable (Former name, former address and former fiscal year, if changed since last report) Item 5. Other Events EQCC Receivables Corporation EQCC Trust 2002-1 EQCC Asset Backed Certificates On August 25, 2002, The Bank of New York, as Trustee for EQCC Trust 2002-1 made a monthly distribution of principal and/or interest to the Holders of the EQCC Asset Backed Certificates. The monthly distributions were made pursuant to the terms of the Pooling and Servicing Agreement (the "Pooling and Servicing Agreement") dated as of March 1, 2002 by and among EQCC Receivables Corporation as Depositor, EquiCredit Corporation of America, as Transferor and Initial Servicer, Bank of America, N.A., as Advancing Party, Fairbanks Capital Corp., as Expected Successor Servicer and The Bank of New York, as Trustee. All capitalized terms used, but not defined herein, shall have the meanings assigned to them in the Pooling and Servicing Agreement. Item 7. Financial Statements and Exhibits (c) Exhibits Exhibit No. Description 99 Report to Holders of EQCC Asset Backed Certificates relating to the Distribution Date of August 25, 2002 prepared by the Trustee pursuant to the terms of the Pooling and Servicing Agreement. SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized. Dated: August 25, 2002 By: /s/ Diane Pickett ------------------------------ Name: Diane Pickett Vice President The Bank of New York, as Trustee EXHIBIT INDEX Exhibit 99 Report to Holders of EQCC Asset Backed Certificates relating to the Distribution Date of August 25, 2002 prepared by the Trustee pursuant to the terms of the Pooling and Servicing Agreement. 99 Monthly Remittance Statement dated August 25, 2002 Payment Date: 08/25/02 ------------------------------------------------------------ EQCC Trust 2002-1 EQCC Asset Backed Certificates Series 2002-1 ------------------------------------------------------------

Class Information Current Payment Information ---------------------------------------------------------------------------------------------------------------------------------- Beginning Pass Thru Principal Interest Total Principal Interest Type Class Code Name Cert. Bal. Rate Dist. Amt. Dist. Amt. Dist. Losses Shortfalls ---------------------------------------------------------------------------------------------------------------------------------- Senior A1 32,~~225~~950,~~401~~222,~~391~~675.00 02.~~000000~~136880% ~~125~~142,~~495~~230,~~494~~099.2000 026,607,525.0060 ~~125~~168,~~495~~837,~~494~~624.2060 0.00 0.00 A1I 32,~~225~~950,~~401~~222,~~391~~675.00 0.~~000000~~679400% 0.00 07,387,042.0089 07,387,042.0089 0.00 0.00 A2 2,~~468~~262,~~585~~429,~~236~~438.00 02.~~000000~~136880% 92107,~~979~~221,~~924~~829.1400 020,390,612.0020 92127,~~979~~612,~~924~~441.1420 0.00 0.00 A2I 2,~~468~~262,~~585~~429,~~236~~438.00 0.~~000000~~679400% 0.00 05,664,881.0099 05,664,881.0099 0.00 0.00 N 0.00 0.000000% 0.00 0.00 0.00 0.00 0.00 Residual R 0.00 0.000000% 0.00 0.00 0.00 0.00 0.00 ---------------------------------------------------------------------------------------------------------------------------------- ---------------------------------------------------------------------------------------------------------------------------------- ---------------------------------------------------------------------------------------------------------------------------------- Totals - - 5,~~693~~212,~~986~~652,~~627~~113.00 - ~~218~~249,~~475~~451,~~418~~928.3400 060,050,062.0068 ~~218~~309,~~475~~501,~~418~~990.3468 - - ---------------------------------------------------------------------------------------------------------------------------------- Class Information -------------------------------------------------------------------------------- Ending Cert. Unpaid Type Class Code Name Notional Bal. Interest -------------------------------------------------------------------------------- Senior A1 32,~~099~~807,~~905~~992,~~896~~576.8000 0.00 A1I 32,~~225~~807,~~401~~992,~~391~~576.00 0.00 A2 2,~~375~~155,~~605~~207,~~311~~608.8600 0.00 A2I 2,~~468~~155,~~585~~207,~~236~~608.00 0.00 N 0.00 0.00 Residual R 0.00 0.00 -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- Totals - - 54,~~475~~963,~~511~~200,~~208~~184.6600 - --------------------------------------------------------------------------------

Payment Date: 08/25/02 ------------------------------------------------------------ EQCC Trust 2002-1 EQCC Asset Backed Certificates Series 2002-1 ------------------------------------------------------------

Class Information Current Payment Information Factors per $1,000 ------------------------------------------------------------------------------------------------------------------------ Beginning Pass Thru CUSIP Principal Interest Ending Cert./ Type Class Code Name Cert. Bal.(Face) Rate Numbers Dist. Dist. Notional Bal. ------------------------------------------------------------------------------------------------------------------------ ------------------------------------------------------------------------------------------------------------------------ Senior A1 32,~~225~~950,~~401~~222,~~391~~675.00 02.~~000000~~136880% 29439PAA2 3540.~~613264~~362231 07.~~000000~~550716 ~~879~~796.~~695070~~855553 A1I 32,~~225~~950,~~401~~222,~~391~~675.00 0.~~000000~~679400% 29439PAC8 0.000000 02.~~000000~~096304 ~~915~~796.~~308335~~855553 A2 2,~~468~~262,~~585~~429,~~236~~438.00 02.~~000000~~136880% 29439PAB0 3440.~~780671~~108090 07.~~000000~~627444 ~~888~~806.~~634266~~190877 A2I 2,~~468~~262,~~585~~429,~~236~~438.00 0.~~000000~~679400% 29439PAD6 0.000000 02.~~000000~~119042 ~~923~~806.~~414937~~190877 N 0.00 0.000000% 0.000000 0.000000 0.000000 Residual R 0.00 0.000000% 0.000000 0.000000 0.000000 ------------------------------------------------------------------------------------------------------------------------ ------------------------------------------------------------------------------------------------------------------------ ------------------------------------------------------------------------------------------------------------------------ Totals - - 5,~~693~~212,~~986~~652,~~627~~113.00 - - - - - ------------------------------------------------------------------------------------------------------------------------ ------------------------------------------------------------------------------------------------------------------------

------------------------------------------------------------ EQCC Trust 2002-1 EQCC Asset Backed Certificates Series 2002-1 ------------------------------------------------------------ -------------------------------------------------------------------------------- COLLATERAL INFORMATION -------------------------------------------------------------------------------- Total ----- Prin balance 2,807,992,576.08 2,155,207,609.41 4,963,200,185.49 Loan count 27034 21802 48836 Avg loan rate 0.000000% 0.000000% 0.00 Prepay amount 0.00 0.00 0.00 -------------------------------------------------------------------------------- FEES AND ADVANCES -------------------------------------------------------------------------------- Total ----- Master serv fees 0.00 0.00 0.00 Sub servicer fees 0.00 0.00 0.00 Trustee fees 0.00 0.00 0.00 Agg advances N/A N/A N/A Adv this period 0.00 0.00 0.00 -------------------------------------------------------------------------------- LOSSES & INSURANCE COVERAGES -------------------------------------------------------------------------------- Total ----- Realized losses 0.00 0.00 0.00 Cumulative losses 0.00 0.00 0.00 Coverage Amounts Total ---------------- ----- Bankruptcy 0.00 0.00 0.00 Fraud 0.00 0.00 0.00 Special Hazard 0.00 0.00 0.00 Aggregate Certificate Information ----------------------------------------------------------------------------- Class Aggregate Aggregate Aggregate Type Percentage Prepay Pct. End Cert. Bal. ----------------------------------------------------------------------------- Senior 100.000000% 100.000000% 5,212,652,113.00 ----------------------------------------------------------------------------- Junior 0.000000% 0.000000% 0.00 ----------------------------------------------------------------------------- -------------------------------------------------------------------------------- DELINQUENCY INFORMATION -------------------------------------------------------------------------------- Period Loan Count Ending Stated Balance ------ ---------- --------------------- 30 to 59 days 2039 202,496,037.31 60 to 89 days 300 29,461,732.82 90 or more 337 25,757,773.88 Foreclosure 0 347,145,325.07 Totals: 2676 604,860,869.08 -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- REO INFORMATION -------------------------------------------------------------------------------- REO Date Loan Number Ending Stated Balance Book Value -------- ----------- --------------------- ---------- N/A # 0 N/A N/A # 0 N/A N/A # 0 N/A N/A # 0 N/A N/A # 0 N/A N/A # 0 N/A N/A # 0 N/A N/A # 0 N/A Totals: 0 N/A Current Total Outstanding Balance: 0.00 Current Total Outstanding Number of Loans: 0 -------------------------------------------------------------------------------- OTHER INFORMATION -------------------------------------------------------------------------------- Amount/Withdrawal Total/Ending Bal. ----------------- ----------------- Available remittance amount 309,501,990.68 309,501,990.68 Principal remittance amount 249,451,928.00 249,451,928.00 Interest remittance amount 60,050,062.68 60,050,062.68

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