	Exhibit 99.1
	MONTHLY PAYMENT STATEMENT TO NOTEHOLDERS

	HSBC Home Equity Loan Trust (USA) 2006-1

	Payment Number		18
	Beginning Date of Collection Period		1-Nov-07
	Ending Date of Collection Period		30-Nov-07
	Payment Date		20-Dec-07
	Previous Payment Date		20-Nov-07
	Interest Period Beginning On		20-Nov-07
	Interest Period Ending On		19-Dec-07
	Funds Disbursement
	Collected Funds (including Servicing Fee)		16,720,818.84
	Available Payment Amount		16,330,028.27
	Principal Collections		10,858,323.05

	Net Interest Collections		5,471,705.22

	Interest Collections		5,862,171.55
	Principal recoveries		324.24
	Servicing Fee		390,790.57
	Skip-A-Pay Advance		0.00
	Skip-A-Pay Reimbursement Amount		0.00

	Disbursements		16,720,818.84
	Interest Paid to Notes		2,706,899.20
	Principal Paid to Notes		11,483,153.92
	Ownership Interest - pursuant to Section 5.01 (a) (xx)		2,139,975.15
	Servicing Fee (to Servicer)		390,790.57

	Yield Maintenance Account
	Maximum Monthly Yield Maintenance Amount		0.00
	Monthly Yield Maintenance Payment Amount		0.00
	Unused amount - towards Ownership Interest		0.00
	Amount on deposit before Monthly Yield Maintenance Payment Amount		0.00
	Amount remaining on deposit in the Yield Maintenance Account		0.00

	Pool Balance
	Beginning Pool Balance		937,897,369.71
	Principal Collections (including repurchases)		10,858,323.05

	Additional Principal Reduction Amount		624,830.87

	Ending Pool Balance		926,414,215.79


	Note Balance
	Beginning Note Balance		658,489,963.71

Note Paydown	11,483,153.92
Ending Note Balance	647,006,809.79


Collateral Performance
Cash yield (% of beginning balance, annualized)	7.50%
Loss rate (% of beginning balance, net of principal recoveries)	0.80%
Net yield	6.70%
Realized Losses	624,506.63
Cumulative Realized Losses	3,771,655.28
Cumulative Loss Percentage	0.29%
Delinquent Loans:
One payment principal balance of loans	28,005,188.91
One payment number of loans	201
Two payments principal balance of loans	5,476,159.77
Two payments number of loans	41
Three payments plus principal balance of loans	23,117,415.02
Three payments plus number of loans	173
One Payment Delinquency Percentage (for related Collection Period)	3.02%
Two Payment Delinquency Percentage (for related Collection Period)	0.59%
Two Payment Plus Delinquency Percentage (for related Collection Period)	3.09%
Two Payment Plus Rolling Average (for such Payment Date)	2.83%
Three Payment Plus Delinquency Percentage (for related Collection Period)	2.50%

Aggregate Principal Balance of Loans that were restructured during such Collection Period	9,646,481.06
Aggregate Principal Balance of Loans restructured in Collection Period as % of EOP Pool Balance		1.04%

Home Equity Loan Detail
Number of loans purchased or substituted pursuant to Section 2.02	-
Principal balance of loans purchased or substituted pursuant to Section 2.02	0.00
Number of loans purchased or substituted pursuant to Section 2.04	-
Principal balance of loans purchased or substituted pursuant to Section 2.04	0.00
Number of loans purchased or substituted pursuant to Section 3.01	-
Principal balance of loans purchased or substituted pursuant to Section 3.01	0.00
Substitution Adjustment Amounts	0.00

Number outstanding beginning of period	7,295
Number outstanding end of period	7,214
Principal balance of all REO as of the end of the Collection Period	5,532,597.91
Number of loans that went into REO during the Collection Period	9

Principal balance of loans that went into REO during the Collection Period	1,433,770.73
Unpaid Servicing Fee from previous Collection Periods	0.00

Overcollateralization
Beginning OC Amount	279,407,406.00
OC Release Amount	0.00
Extra Principal Payment Amount	0.00
Class A-1 Extra Principal Payment Amount Paid	0.00
Class A-2 Extra Principal Payment Amount Paid	0.00
Class M-1 Extra Principal Payment Amount Paid	0.00
Class M-2 Extra Principal Payment Amount Paid	0.00
Ending OC Amount	279,407,406.00

Target OC Amount	279,407,406.00
Interim OC Amount	279,407,406.00
Interim OC Deficiency	0.00

Monthly Excess Cashflow (before Servicing Fee)	2,530,765.72
Monthly Excess Cashflow (after Servicing Fee)	2,139,975.15
Principal Payment Amount	10,858,323.05
Class A-1 Principal Payment Amount	6,668,372.67
Class A-2 Principal Payment Amount	1,668,243.25
Class M-1 Principal Payment Amount	1,446,800.58
Class M-2 Principal Payment Amount	1,074,906.55
Principal Collections	10,858,323.05
OC Release Amount	0.00
Other
Stepdown	No
Trigger Event	No
Servicer Termination Event	No
Event of Default	No
Original Note Balance	1,038,550,000.00
Total Note Principal Amount divided by Total Original Note Principal Amount	62.299053%
EOP Note Principal Amount divided by Original Note Principal Amount < 15.00%	No

Interest Calculations
1 month LIBOR		4.74000%
Class A-1 Formula Rate (1-mo. Libor plus 16 bps)		4.90000%
Class A-1 Note Rate		4.90000%
Class A-2 Formula Rate (1-mo. Libor plus 18 bps)		4.92000%
Class A-2 Note Rate		4.92000%
Class M-1 Formula Rate (1-mo. Libor plus 28 bps)		5.02000%
Class M-1 Note Rate		5.02000%
Class M-2 Formula Rate (1-mo. Libor plus 30 bps)		5.04000%
Class M-2 Note Rate		5.04000%


Available Funds Cap			7.47130%
Class A-1 Noteholder's Statement

A. Information on Payments
Original Class A-1 Note Balance		637,800,000.00
1. Total Payments per $1,000		13.645937
2. Principal Payment per $1,000		11.056910
3. Interest Payment per $1,000		2.589027

B. Calculation of Class A-1 Interest Due & Paid
1. Class A-1 Note Rate		4.90000%
2. Days in Accrual Period		30
3. Class A-1 Current Interest Due		1,651,281.44
4. Class A-1 Current Interest Paid		1,651,281.44
5. Class A-1 Interest Carry Forward Amount Due		0.00
6. Class A-1 Interest Carry Forward Amount Paid		0.00
7. Class A-1 Supplemental Interest Amount Due		0.00
8. Class A-1 Supplemental Interest Amount Paid		0.00
9. Class A-1 Unpaid Interest Carry Forward Amount, EOP		0.00
10. Class A-1 Unpaid Supplemental Interest Amount, EOP		0.00

C. Calculation of Class A-1 Principal Due & Paid
1. Class A-1 Note Principal Amount, BOP		404,395,454.08
2. Class A-1 Principal Due		7,052,097.21
3. Class A-1 Principal Paid		7,052,097.21
4. Class A-1 Principal Carry Forward Amount Paid		0.00
5. Class A-1 Unpaid Principal Carry Forward Amount		0.00
6. Class A-1 Note Principal Amount, EOP		397,343,356.87
7. Class A-1 Note Principal Amount as a % of Original Class A-1 Note Principal Amount, EOP				62.299053%
8. Class A-1 Note Principal Amount as a % of the Pool Balance, EOP		42.890464%
9. Class A-1 Note principal distribution percentage		61.412546339%

Class A-2 Noteholder's Statement

	A. Information on Payments
Original Class A-2 Note Balance		159,560,000.00
1. Total Payments per $1,000		13.656505
2. Principal Payment per $1,000		11.056910
3. Interest Payment per $1,000		2.599595

B. Calculation of Class A-2 Interest Due & Paid
1. Class A-2 Note Rate		4.92000%
2. Days in Accrual Period		30

3. Class A-2 Interest Due	414,791.30
4. Class A-2 Interest Paid	414,791.30
5. Class A-2 Interest Carry Forward Amount Due	0.00
6. Class A-2 Interest Carry Forward Amount Paid	0.00
7. Class A-2 Supplemental Interest Amount Due	0.00
8. Class A-2 Supplemental Interest Amount Paid	0.00
9. Class A-2 Unpaid Interest Carry Forward Amount, EOP	0.00
10. Class A-2 Unpaid Supplemental Interest Amount, EOP	0.00

C. Calculation of Class A-2 Principal Due & Paid
1. Class A-2 Note Principal Amount, BOP	101,168,608.73
2. Class A-2 Principal Due	1,764,240.57
3. Class A-2 Principal Paid	1,764,240.57
4. Class A-2 Principal Carry Forward Amount Paid	0.00
5. Class A-2 Unpaid Principal Carry Forward Amount	0.00
6. Class A-2 Note Principal Amount, EOP	99,404,368.16

7. Class A-2 Note Principal Amount as a % of Original Class A-2 Note Principal Amount, EOP		62.299052%
8. Class A-2 Note Principal Amount as a % of the Pool Balance, EOP	10.730013%
9. Class A-2 Note principal distribution percentage	15.363728275%
Class M-1 Noteholder's Statement

A. Information on Payments
Original Class M-1 Note Balance	138,380,000.00
1. Total Payments per $1,000	13.709342
2. Principal Payment per $1,000	11.056910
3. Interest Payment per $1,000	2.652432

B. Calculation of Class M-1 Interest Due & Paid
1. Class M-1 Note Rate	5.02000%
2. Days in Accrual Period	30
3. Class M-1 Interest Due	367,043.51
4. Class M-1 Interest Paid	367,043.51
5. Class M-1 Interest Carry Forward Amount Due	0.00
6. Class M-1 Interest Carry Forward Amount Paid	0.00
7. Class M-1 Supplemental Interest Amount Due	0.00
8. Class M-1 Supplemental Interest Amount Paid	0.00
9. Class M-1 Unpaid Interest Carry Forward Amount, EOP	0.00
10. Class M-1 Unpaid Supplemental Interest Amount, EOP	0.00

C. Calculation of Class M-1 Principal Due & Paid
1. Class M-1 Note Principal Amount, BOP	87,739,484.07
2. Class M-1 Principal Due	1,530,055.21
3. Class M-1 Principal Paid	1,530,055.21
4. Class M-1 Principal Carry Forward Amount Paid	0.00

5. Class M-1 Unpaid Principal Carry Forward Amount	0.00
6. Class M-1 Note Principal Amount, EOP	86,209,428.86
7. Class M-1 Note Principal Amount as a % of Original Class M-1 Note Principal Amount, EOP		62.299053%
8. Class M-1 Note Principal Amount as a % of the Pool Balance, EOP	9.305711%
9. Class M-1 Note principal distribution percentage	13.324346445%
Class M-2 Noteholder's Statement

A. Information on Payments
Original Class M-2 Note Balance	102,810,000.00
1. Total Payments per $1,000	13.719909
2. Principal Payment per $1,000	11.056910
3. Interest Payment per $1,000	2.662999

B. Calculation of Class M-2 Interest Due & Paid
1. Class M-2 Note Rate	5.04000%
2. Days in Accrual Period	30
3. Class M-2 Interest Due	273,782.95
4. Class M-2 Interest Paid	273,782.95
5. Class M-2 Interest Carry Forward Amount Due	0.00
6. Class M-2 Interest Carry Forward Amount Paid	0.00
7. Class M-2 Supplemental Interest Amount Due	0.00
8. Class M-2 Supplemental Interest Amount Paid	0.00
9. Class M-2 Unpaid Interest Carry Forward Amount, EOP	0.00
10. Class M-2 Unpaid Supplemental Interest Amount, EOP	0.00

C. Calculation of Class M-2 Principal Due & Paid
1. Class M-2 Note Principal Amount, BOP	65,186,416.83
2. Class M-2 Principal Due	1,136,760.93
3. Class M-2 Principal Paid	1,136,760.93
4. Class M-2 Principal Carry Forward Amount Paid	0.00
5. Class M-2 Unpaid Principal Carry Forward Amount	0.00
6. Class M-2 Note Principal Amount, EOP	64,049,655.90
7. Class M-2 Note Principal Amount as a % of Original Class M-2 Note Principal Amount, EOP		62.299053%
8. Class M-2 Note Principal Amount as a % of the Pool Balance, EOP	6.913717%
9. Class M-2 Note principal distribution percentage	9.899378942%


	HSBC FINANCE CORPORATION
	HSBC Home Equity Loan Trust (USA) 2006-1

	The undersigned, a duly authorized representative of HSBC Finance Corporation,
	as Servicer (the "Servicer"), pursuant to a Sales and Servicing Agreement
	dated as of July 12, 2006 (the "Sales and Servicing Agreement"), by and among
	HSBC Home Equity Loan Corporation I, as Depositor, the Servicer,
	The Bank of New York Trust Company, N.A., as Successor-in-Interest to JP Morgan
	Chase Bank, N.A., as Indenture Trustee, HSBC Bank USA, National Association,
	as Administrator, and HSBC Home Equity Loan Trust (USA) 2006-1, the Trust, does
	hereby certify with respect to the information set forth below as follows:

	1. Capitalized terms used in this Servicing Certificate shall have the respective
	meanings set forth in the Sales and Servicing Agreement.

	2. HSBC Finance Corporation is, as of the date hereof, the
	Servicer under the Sales and Servicing Agreement.

	3. The undersigned is a Servicing Officer.

	4. This Certificate relates to the Payment Date occurring on December 20, 2007.

	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
	Sales and Servicing Agreement through the Collection Period preceding such
	Payment Date and that, except as may be noted on the Servicing Certificate
	related to a Trigger Event, no Servicer Termination Event has occurred
	since the prior Determination Date.

	6. As of the date hereof, to the best knowledge of the undersigned, no
	Event of Default has been deemed to have occurred on or prior to
	such Payment Date.

	IN WITNESS WHEREOF, the undersigned has duly executed and delivered this Certificate
	the 15th day of December, 2007

	HSBC FINANCE CORPORATION
	as Servicer

	By: /s/ Joyce A. Bevacqua

HSBC Home Equity Loan Trust (USA) 2006-1 10-D