(a) Lender. A person who engages in the business of lending money to consumers within the jurisdiction of the Federal Trade Commission.
(b) Retail installment seller. A person who sells goods or services to consumers on a deferred payment basis or pursuant to a lease-purchase arrangement within the jurisdiction of the Federal Trade Commission.
(c) Person. An individual, corporation, or other business organization.
(d) Consumer. A natural person who seeks or acquires goods, services, or money for personal, family, or household use.
(e) Obligation. An agreement between a consumer and a lender or retail installment seller.
(f) Creditor. A lender or a retail installment seller.
(g) Debt. Money that is due or alleged to be due from one to another.
(h) Earnings. Compensation paid or payable to an individual or for his or her account for personal services rendered or to be rendered by him or her, whether denominated as wages, salary, commission, bonus, or otherwise, including periodic payments pursuant to a pension, retirement, or disability program.
(i) Household goods. Clothing, furniture, appliances, one radio and one television, linens, china, crockery, kitchenware, and personal effects (including wedding rings) of the consumer and his or her dependents, provided that the following are not included within the scope of the term household goods:
(1) Works of art;
(2) Electronic entertainment equipment (except one television and one radio);
(3) Items acquired as antiques; and
(4) Jewelry (except wedding rings).
(j) Antique. Any item over one hundred years of age, including such items that have been repaired or renovated without changing their original form or character.
(k) Cosigner. A natural person who renders himself or herself liable for the obligation of another person without compensation. The term shall include any person whose signature is requested as a condition to granting credit to another person, or as a condition for forbearance on collection of another person's obligation that is in default. The term shall not include a spouse whose signature is required on a credit obligation to perfect a security interest pursuant to State law. A person who does not receive goods, services, or money in return for a credit obligation does not receive compensation within the meaning of this definition. A person is a cosigner within the meaning of this definition whether or not he or she is designated as such on a credit obligation.
Notes of Decisions
Cited in
15
cases (
1 in the last 5 years), 1985–2024 · leading case:
In Re Thompson, 59 B.R. 690 (Bankr. W.D. Tex. 1986).
In Re Thompson, 59 B.R. 690 (Bankr. W.D. Tex. 1986).
· cites it 3× “See 16 C.F.R. § 444.1 (1985); see also In re Lawson, 42 B.”
Barrick v. Avco Consum. Disc. Co. (In Re Barrick), 95 B.R. 310 (Bankr. M.D. Penn. 1989).
· cites it 2× “16 C.F.R. § 444.1 (i). This definition was adopted in conjunction with the FTC’s promulgation of the rule that the taking of a non-possessory, non-purchase money blanket security interest in household goods constitutes an unfair trade practice and is thus prohibited.”
Fed. Trade Comm'n v. IFC Credit Corp., 543 F. Supp. 2d 925 (N.D. Ill. 2008).
“See 16 C.F.R. § 444.1 (d). This, IFC contends, shows the FTC’s inconsistent approach to the definitional problem presented by this case and precludes giving the current approach any deference.”
Denham v. Farmers Ins., 213 Cal. App. 3d 1061 (Cal. Ct. App. 1989).
““(b) Necessary household goods, as defined in 16 C.F.R. 444.1(i) as that section existed on January 1, 1987, and yard equipment, not to exceed $3,000 in value, belonging to the judgment debtor to be selected by him.”
In Re Vaughn, 64 B.R. 213 (Bankr. S.D. Ind. 1986).
“Ideal relies upon 16 C.F.R. Section 444.1, the Federal Trade Commission’s definition of “household goods”.”
Am. Fin. Servs. Ass'n v. Fed. Trade Comm'n, 767 F.2d 957 (D.C. Cir. 1985).
· cites it 2× “16 C.F.R. § 444.1 (iHj). A non-purchase, non-possessory security interest in household goods (“HHG security interest”) allows the creditor to seize and sell the debtor’s household goods upon default without a judgment or court order.”
Dean v. Am. Gen. Fin., Inc., 191 B.R. 463 (M.D. Ala. 1996).
“§ 45 (a)(1) (“FTCA”), and the regulations promulgated thereunder, 16 C.F.R. §§ 444.1 and 444.2 2 (prohibiting non-posses-sory security interests in household goods other than a purchase money security interest).”
Smith v. Norwest Fin. (In Re Smith), 57 B.R. 330 (Bankr. N.D. Ga. 1986).
“16 C.F.R. § 444.1 (i). This definition was adopted in conjunction with the FTC’s promulgation of the rule that the taking of a non-possessory, non-purchase money blanket security interest in household goods constitutes an unfair trade practice and is thus prohibited.”
Lanzoni v. ITT Fin. Servs. (In Re Lanzoni), 67 B.R. 58 (Bankr. W.D. Mo. 1986).
“ITT urges the Court to adopt a new Federal Trade Commission definition of household goods (see 16 C.F.R. § 444.1 (i)) and to apply it to § 522(f)(2) and Missouri’s exemption statutes to restrict the types of property qualifying as household goods which can be exempted and on…”
Reid v. ITT Fin. Servs. (In Re Reid), 121 B.R. 875 (Bankr. D.N.M. 1990).
“Clothing, furniture, appliances, one radio and one television, linens, china crockery, kitchenware, and personal effects (including wedding rings) of the consumer and his or her dependents, provided that the following are not included within the scope of the term “household…”
In Re Gonshorowski, 110 B.R. 51 (Bankr. N.D. Ala. 1990).
“” 16 C.F.R. Section 444.1(i). Judges have however generally refused to adopt the FTC definition.”
— 16 C.F.R. § 444.1(i) — 2 cases
Denham v. Farmers Ins., 213 Cal. App. 3d 1061 (Cal. Ct. App. 1989).
““(b) Necessary household goods, as defined in 16 C.F.R. 444.1(i) as that section existed on January 1, 1987, and yard equipment, not to exceed $3,000 in value, belonging to the judgment debtor to be selected by him.”
In Re Gonshorowski, 110 B.R. 51 (Bankr. N.D. Ala. 1990).
“” 16 C.F.R. Section 444.1(i). Judges have however generally refused to adopt the FTC definition.”
Annotations are extracted automatically from the opinions in the
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