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Debt
LAWDOG is intended to assist in the understanding of basic concepts. See Disclaimer. Always obtain legal advice from legal professionals.
Primarily For Personal, Family, or Household Purposes
For purposes of the Fair Debt Collection Practces Act, the term "debt" means any obligation or alleged obligation of a consumer to pay money arising out of a transaction in which the money, property, insurance, or services which are the subject of the transaction are primarily for personal, family, or household purposes, whether or not such obligation has been reduced to judgment.
See Section 803 (5) of the Fair Debt Collection Practices Act reproduced here for illustration purposes only. Also see a portion of the FTC Official Staff Commentary on the Fair Debt Collection Practices Act reproduced here for illustration purposes only.
A copy of the Fair Debt Collection Practices Act is reproduced for illustration purposes only
here. A copy the FTC Official Staff Commentary on the Fair Debt Collection Practices Act is reproduced for illustration purposes only here. Read Sources and Disclaimer. Links do not return to this page. Use browser "back" button to return.
