Fair Debt Collection: 4.6.2 Arising Out of a Transaction Involving Money, Property, Insurance, or Services
To fall under the FDCPA definition of debt, an obligation must arise “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.” This definition is similar to the Truth in Lending Act (TILA) definition of “consumer”: “the money, property, or services which are the subject of the transaction are primarily for personal, family, or household purposes.”219 Of course, the TILA definition applies to “consumer” and the FDCPA definition