**UNITED      STATES**

**SECURITIES      AND EXCHANGE COMMISSION**

**WASHINGTON,      D.C. 20549**

**____**

**FORM      10-K/A**

**(Amendment      No. 1)**

**FOR      ANNUAL AND TRANSITION REPORTS**

**PURSUANT      TO SECTIONS 13 OR 15(d) OF THE**

**SECURITIES      EXCHANGE ACT OF 1934**

|   | (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,                2006 |
|--------|---------------------------------------------------------------------------|

| o |     TRANSITION                REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURI­TIES EXCHANGE ACT                OF 1934 |
|---|------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | For                the transition period from ________ to                ________ |
|--------|-----------------------------------------------------------------------------------|

| Delaware                                                                                               | 13-3447441                                                  |
|--------------------------------------------------------------------------------------------------------|-------------------------------------------------------------|
|  (State                  or other jurisdiction of incorporation or                  organization) |  (I.R.S.                  Employer Identification No.) |

| 745                Seventh Avenue, New York, New York           | 10019                             |
|-----------------------------------------------------------------|-----------------------------------|
| (Address                  of principal executive offices)  | (Zip                  Code)  |

| Title                of Class                                                                                              | Name                of  Registered Exchange                                 |
|----------------------------------------------------------------------------------------------------------------------------|---------------------------------------------------------------------------------------|
| Corporate                Backed Trust Certificates, Goldman Sachs Capital I Securities-Backed                Series 2004-7 | New                York  Stock Exchange                (“NYSE”) |

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**Explanatory      Note**

*http://www.sec.gov/divisions/corpfin/8124cert.htm*

**DOCUMENTS      INCORPORATED BY REFERENCE**

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**PART      IV**

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**SIGNATURES**

|                                                      | Lehman                      ABS Corporation, as Depositor for theTrust                        (the “Registrant”)                                                                                                                                                               |
|-----------------------------------------------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|                                                      |                                                                                                                                                                                                                                                                                       |
|                                                      |                                                                                                                                                                                                                                                                                       |
|                                                      |                                                                                                                                                                                                                                                                                       |
| Dated:  September                      19, 2007 | By:            /s/                      Charles M.                      Weaver                         |
|                                                      | Name:                      ** **Charles M. Weaver                                                                                                                                                                                                                                     |
|                                                      | Title:   Senior                      Vice President                                                                                                                                                                                                                         |

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**EXHIBIT      INDEX**

| **Reference****Number                per****Item                601 of****Regulation                SK**  | **Description                of Exhibits**                                                                                                                                                                                               | **Exhibit                Number****in                this Form 10-K**  |
|----------------------------------------------------------------------------------------------------------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|-----------------------------------------------------------------------------|
| (31.1)                                                                                                         | Certification                by Senior Vice President of the Registrant pursuant to 15 U.S.C.                Section                7241, as adopted pursuant to Section 302 of the Sarbanes-Oxley Act                of                2002. | 31.1                                                                        |

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