SECURITIES AND EXCHANGE COMMISSION

                     Washington, D.C.  20549


                           FORM 10-K


(Mark One)
[X]  ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
     SECURITIES EXCHANGE ACT OF 1934 
     For the fiscal year ended December 31, 1998

                               OR

[ ]  TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
     SECURITIES EXCHANGE ACT OF 1934
     For the transition period from ______ to _______

                  Commission File No. 333-20147

              HOUSEHOLD CONSUMER LOAN TRUST 1997-1
     (Exact name of Registrant as specified in Department
      of the Treasury, Internal Revenue Service Form SS-4)


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



            DELAWARE                      36-3670374             
(State or other jurisdiction of       (I.R.S. Employer
incorporation of Administrator)    Identification Number of       
                                   Registrant)


 2700 SANDERS ROAD, PROSPECT HEIGHTS, ILLINOIS         60070     
(Address of principal executive offices of           (Zip Code)
Administrator)


Administrator's telephone number including area code (847)564-5000 


Indicate by check mark whether the Registrant (1) has filed all
reports required to be filed by Section 13 or 15(d) of the
Securities Exchange Act of 1934 during the preceding 12 months (or
for such shorter period that the Registrant was required to file
such reports), and (2) has been subject to such filing requirements
for the past 90 days.

                         Yes   X            No      

The aggregate principal amount of the Notes held by non-affiliates
of the Administrator as of December 31, 1998 was approximately $840
million.
<PAGE>
INTRODUCTORY NOTE




     Household Consumer Loan Trust 1997-1 (the "Issuer") is the
issuer of Household Consumer Loan Asset-Backed Notes, Series 1997-1
(the "Notes") were issued pursuant to an indenture, dated as of
March 1, 1997 between the Issuer and The Bank of New York, as
indenture trustee.  The Notes were secured by a participation
interest (the "Series 1997-1 Participation") in certain consumer
loan receivables held by Household Consumer Loan Deposit Trust I
(the "Deposit Trust").  The Deposit Trust was formed pursuant to a
Pooling and Servicing Agreement, dated as of September 1, 1995, by
and among Household Consumer Loan Corporation, as Seller (the
"Seller"), Household Finance Corporation, as servicer (the
Servicer") and The Chase Manhattan Bank, N. A., as deposit trustee
(the "Deposit Trustee").  

     The Issuer was formed pursuant to a Trust Agreement, dated as
of March 1, 1997 (the "Trust Agreement") between the Seller and The
Chase Manhattan Bank Delaware, as owner trustee (the "Owner
Trustee").  In addition to the Notes, pursuant to the Trust
Agreement, the Issuer also issued the Household Consumer Loan
Asset-Backed Certificates, Series 1997-1 (the "Certificates") which
were not registered under the Securities Act of 1933, as amended.

     On behalf of the Issuer Household Finance Corporation, as
Administrator, has prepared this Form 10-K in reliance upon various
no-action letters issued by the Securities and Exchange Commission
(the "Commission") to other trusts which are substantially similar
to the Issuer.  Items designated herein as "Not Applicable" have
been omitted as a result of this reliance.

<PAGE>
PART I


Item 1.   Business.

          Not Applicable.


Item 2.   Properties.

          Not Applicable.


Item 3.   Legal Proceedings.

          The Servicer is not aware of any material pending legal
          proceedings involving either the Registrant, the Trustee,
          the Seller or the Servicer with respect to the Notes or
          the Registrant's property.


Item 4.   Submission of Matters to a Vote of Security Holders.

          No vote or consent of the holders of the Notes (the
          "Noteholders") was solicited for any purpose during the
          year ended December 31, 1998.




PART II


Item 5.   Market for Registrant's Common Equity and Related
          Stockholder Matters.

          To the best knowledge of the Administrator, there is no
          established public trading market for the Notes.  As of
          February 26, 1999, there were 10 Class A-1 Noteholders,
          4 Class A-2 Noteholders and 5 Class A-3 Noteholders, some
          of whom may be holding Notes for the accounts of others.


Item 6.   Selected Financial Data.

          Not Applicable.


Item 7.   Management's Discussion and Analysis of Financial
          Condition and Results of Operations.

          Not Applicable.
<PAGE>
Item 8.   Financial Statements and Supplementary Data.

          Not Applicable.


Item 9.   Changes in and Disagreements with Accountants on
          Accounting and Financial Disclosure.

          None.




PART III


Item 10.  Directors and Executive Officers of the Registrant.

          Not Applicable.


Item 11.  Executive Compensation.

          Not Applicable.


Item 12.  Security Ownership of Certain Beneficial Owners and
          Management.

          The following table sets forth (i) the name and address
          of each entity owning more than 5% of the outstanding
          principal amount of the Class A-1, Class A-2 or Class A-3
          Notes; (ii) the principal amount of Notes owned by each
          and (iii) the percent that the principal amount of Notes
          owned represents of the outstanding principal amount of
          the Class A-1, Class A-2 or Class A-3 Notes.  The
          information set forth in the table is based upon
          information obtained by the Administrator from the
          Trustee and from The Depository Trust Company as of
          February 26, 1999.  The Administrator is not aware of any
          Schedules 13D or 13G filed with the Securities and
          Exchange Commission in respect of the Notes.

<PAGE>
                                             Amount Owned
                                        All dollar amounts are
                                             in thousands
                                        
Name and Address                        Principal      Percent

Class A-1 Noteholders

Bank of New York                        $ 75,000        10.28
925 Patterson Plank Road
Secaucus, NJ  07094

Republic National Bank of New York      $ 46,000         6.30
Investment Account
One Hanson Place, Lower Level
Brooklyn, NY  11243

State Street Bank & Trust Company       $463,600        63.54
Global Corp. Action Dept. JAB5W
P. O. Box 1631
Boston, MA 02105-1631


Class A-2 Noteholders

Bankers Trust Company                   $ 20,000        41.67
c/o BT Services Tennessee Inc.
648 Grassmere Park Drive
Nashville, TN 37211

Boston Safe Deposit and                 $  7,500        15.63
  Trust Company
c/o Mellon Bank N.A.
Three Mellon Bank Center
Room 153-3015
Pittsburgh, PA 15259

Bankers Trust/Dealer Clearance          $  9,500        19.79
16 Wall Street
New York, NY 10005

Citibank, N.A.                          $ 11,000        22.92
P. O. Box 30576
Tampa, FL  33630-3576


<PAGE>
                                             Amount Owned
                                        All dollar amounts are
                                             in thousands
                                        
Name and Address                        Principal      Percent

Class A-3 Noteholders

Bankers Trust Company                   $ 17,400        27.88 
c/o BT Services Tennessee Inc.
648 Grassmere Park Drive
Nashville, TN 37211

Boston Safe Deposit and                 $  24,000       38.46
  Trust Company
c/o Mellon Bank N.A.
Three Mellon Bank Center
Room 153-3015
Pittsburgh, PA 15259

Bankers Trust/Corporate Clearance       $ 16,000        25.64
130 Liberty Street
New York, NY 10006

Norwest Bank Minnesota N.A.             $  4,500         7.21
733 Marquette Avenue
Minneapolis, MN 55479-0056






<PAGE>
Item 13.  Certain Relationships and Related Transactions.

          None or Not Applicable.





PART IV

Item 14.  Exhibits, Financial Statement Schedules, and Reports on
          Form 8-K.

          (a)  List the following documents filed as a part of the
               report:

               (1)  Financial Statements

                    Not Applicable.

               (2)  Financial Statement Schedules

                    Not Applicable.

               (3)  The Administrator, on behalf of the Issuer, 
                    is obligated to prepare, and has so prepared,
                    an Annual Statement for the year 1998, and the
                    Independent Public Accountants are required to
                    prepare an Annual Report as to Compliance for
                    such year.  Copies of said documents are or
                    will be filed as exhibits to this Form 10-K
                    when they are available.  

          (b)  The Registrant filed the following current reports
               on Form 8-K for the fourth quarter of 1998:

               Date of Reports               Items Covered        

               October 14, 1998    Item 7. - Statement to
               November 13, 1998   Noteholders with respect
               December 14, 1998   to the distributions on October
                                   14 and 15, 1998, November 13
                                   and 16, 1998, and December 14
                                   and 15, 1998.

          (c)  (1)  Exhibit 99.  Copy of Annual Statement for the
                    year ended December 31, 1998.

               (2)  Exhibit 99.1.  Copy of Annual Report as to
                    Compliance for the year ended December 31,
                    1998.

          (d)  Not Applicable.<PAGE>
SIGNATURES




     Pursuant to the requirements of Section 13 or 15(d) of the
Securities Exchange Act of 1934, the Servicer has duly caused this
report to be signed on behalf of the Household Consumer Loan Trust
1997-1 by the undersigned, thereunto duly authorized.




                             HOUSEHOLD FINANCE CORPORATION,
                         as Administrator of and on behalf of the

                          HOUSEHOLD CONSUMER LOAN TRUST 1997-1
                                    (Registrant)




Date:  March 4, 1999          By: /s/John W. Blenke              
                                 John W. Blenke
                                 Assistant Secretary


















U:\WP\HFS088\10K\HCL97-1<PAGE>





                           Exhibit Index


Exhibit No.    Exhibit                                      Page No.

99             Copy of Annual Statement                        10
               for the year ended 
               December 31, 1998

99.1           Copy of Annual Report as to                     11
               Compliance for the year
               ended December 31, 1998