8-K 1 eqc021_edgar0205.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): May 25, 2002 EQCC (Depositor) (Issuer in respect of EQCC Trust 2002-1, EQCC Asset Backed Certificates) (Exact name of registrant as specified in charter) 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 EQCC Trust 2002-1 EQCC Asset Backed Certificates On May 25, 2002, The Bank of New York, as Trustee for EQCC, EQCC Trust 2002-1 EQCC Asset Backed Certificates, made a monthly distribution to Certificate holders of principal and/or interest pursuant to the Pooling and Servicing Agreement, dated as of March 1, 2002, among EQCC as Depositor, EQCC Receivables Corporation, Seller and Master Servicer and The Bank of New York, as Trustee. Item 7. Financial Statements and Exhibits (c) Exhibits Exhibit No. Description 99 Report to Holders of EQCC, EQCC Trust 2002-1 EQCC Asset Backed Certificates relating to the distribution date of May 25, 2002 prepared by The Bank of New York, as Trustee under the Pooling and Servicing Agreement dated as of March 1, 2002. 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: May 25, 2002 EQCC By: /s/ Diane Pickett ------------------------------ Name: Diane Pickett Vice President The Bank of New York, as Trustee EXHIBIT INDEX Exhibit 99 Monthly Remittance Statement dated May 25, 2002 Payment Date: 05/25/02 ------------------------------------------------------------ EQCC Receivables Corporation EQCC Trust 2002-1, EQCC Asset Backed Certificates Series 2002-1 ------------------------------------------------------------

Payment Date: 05/25/02 ------------------------------------------------------------ EQCC Receivables Corporation EQCC Trust 2002-1, EQCC Asset Backed Certificates Series 2002-1 ------------------------------------------------------------

------------------------------------------------------------ EQCC Receivables Corporation EQCC Trust 2002-1, EQCC Asset Backed Certificates Series 2002-1 ------------------------------------------------------------ -------------------------------------------------------------------------------- COLLATERAL INFORMATION -------------------------------------------------------------------------------- Total ----- Prin balance 3,225,401,391.14 2,468,585,236.26 5,693,986,627.41 Loan count 30024 23930 53954 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 1,852.27 1,417.90 3,270.17 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% 5,945,764,648.00 ----------------------------------------------------------------------------- Junior 0.000000% 0.000000% 0.00 ----------------------------------------------------------------------------- -------------------------------------------------------------------------------- DELINQUENCY INFORMATION -------------------------------------------------------------------------------- Period Loan Count Ending Stated Balance ------ ---------- --------------------- 30 to 59 days 2877 282,300,519.38 60 to 89 days 1257 127,720,839.90 90 or more 2276 236,874,173.73 Foreclosure 1984 215,934,246.96 Totals: 8394 862,829,779.97 -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- 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 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: 1,060,483.37 Current Total Outstanding Number of Loans: 14 -------------------------------------------------------------------------------- OTHER INFORMATION -------------------------------------------------------------------------------- Amount/Withdrawal Total/Ending Bal. ----------------- ----------------- Available remittance amount 267,199,055.39 267,199,055.39 Principal remittance amount 251,778,021.10 251,778,021.10 Interest remittance amount 15,421,034.29 15,421,034.29

EQCC TRUST 2002-1 8-K