8-K 1 eqc021_edgar0209.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): September 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 September 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 September 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: September 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 September 25, 2002 prepared by the Trustee pursuant to the terms of the Pooling and Servicing Agreement. 99 Monthly Remittance Statement dated September 25, 2002 Payment Date: 09/25/02 ------------------------------------------------------------ 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 2,~~950~~807,~~222~~992,~~675~~575.0098 2.~~136880~~110000% ~~142~~124,~~230~~742,~~099~~916.00 264,~~607~~937,~~525~~386.6095 ~~168~~129,~~837~~680,~~624~~302.6095 0.00 0.00 A1I 2,~~950~~807,~~222~~992,~~675~~575.00 0.679400% 0.00 71,~~387~~589,~~042~~791.8980 71,~~387~~589,~~042~~791.8980 0.00 0.00 A2 2,~~262~~155,~~429~~207,~~438~~608.00 2.~~136880~~110000% ~~107~~99,~~221~~260,~~829~~144.0034 203,~~390~~789,~~612~~573.2038 ~~127~~103,~~612~~049,~~441~~717.2072 0.00 0.00 A2I 2,~~262~~155,~~429~~207,~~438~~608.00 0.679400% 0.00 51,~~664~~220,~~881~~206.9971 51,~~664~~220,~~881~~206.9971 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 - - 54,~~212~~963,~~652~~200,~~113~~183.0098 - ~~249~~224,~~451~~003,~~928~~060.0034 6011,~~050~~536,~~062~~958.6884 ~~309~~235,~~501~~540,~~990~~019.6818 - - ---------------------------------------------------------------------------------------------------------------------------------- Class Information -------------------------------------------------------------------------------- Ending Cert. Unpaid Type Class Code Name Notional Bal. Interest -------------------------------------------------------------------------------- Senior A1 2,~~807~~683,~~992~~249,~~576~~659.00 0.00 A1I 2,~~807~~683,~~992~~249,~~576~~659.00 0.00 A2 2,~~155~~055,~~207~~947,~~608~~464.00 0.00 A2I 2,~~155~~055,~~207~~947,~~608~~464.00 0.00 N 0.00 0.00 Residual R 0.00 0.00 -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- Totals - - 4,~~963~~739,~~200~~197,~~184~~123.00 - --------------------------------------------------------------------------------

Payment Date: 09/25/02 ------------------------------------------------------------ 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 2,~~950~~807,~~222~~992,~~675~~575.0098 2.~~136880~~110000% 29439PAA2 4035.~~362231~~399697 71.~~550716~~401138 ~~796~~761.~~855553~~455856 A1I 2,~~950~~807,~~222~~992,~~675~~575.00 0.679400% 29439PAC8 0.000000 20.~~096304~~451153 ~~796~~761.~~855553~~455856 A2 2,~~262~~155,~~429~~207,~~438~~608.00 2.~~136880~~110000% 29439PAB0 4037.~~108090~~129891 71.~~627444~~417552 ~~806~~769.~~190877~~060987 A2I 2,~~262~~155,~~429~~207,~~438~~608.00 0.679400% 29439PAD6 0.000000 20.~~119042~~456438 ~~806~~769.~~190877~~060987 N 0.00 0.000000% 0.000000 0.000000 0.000000 Residual R 0.00 0.000000% 0.000000 0.000000 0.000000 ------------------------------------------------------------------------------------------------------------------------ ------------------------------------------------------------------------------------------------------------------------ ------------------------------------------------------------------------------------------------------------------------ Totals - - 54,~~212~~963,~~652~~200,~~113~~183.0098 - - - - - ------------------------------------------------------------------------------------------------------------------------ ------------------------------------------------------------------------------------------------------------------------

------------------------------------------------------------ EQCC Trust 2002-1 EQCC Asset Backed Certificates Series 2002-1 ------------------------------------------------------------ -------------------------------------------------------------------------------- COLLATERAL INFORMATION -------------------------------------------------------------------------------- Total ----- Prin balance 2,683,249,659.22 2,055,947,465.07 4,739,197,124.30 Loan count 26145 21090 47235 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% 4,963,200,183.98 ----------------------------------------------------------------------------- Junior 0.000000% 0.000000% 0.00 ----------------------------------------------------------------------------- -------------------------------------------------------------------------------- DELINQUENCY INFORMATION -------------------------------------------------------------------------------- Period Loan Count Ending Stated Balance ------ ---------- --------------------- 30 to 59 days 1947 194,346,006.07 60 to 89 days 253 25,291,204.82 90 or more 351 26,037,308.63 Foreclosure 0 357,356,152.48 Totals: 2551 603,030,672.00 -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- 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 235,540,019.18 235,540,019.18 Principal remittance amount 224,003,060.34 224,003,060.34 Interest remittance amount 11,536,958.84 11,536,958.84

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