815 ILCS 604/5

(815 ILCS 604/5)

Sec. 5. Definitions. As used in this Act:

"Consumer contract" means any contract in which the money, property, or service that is the subject of the transaction is primarily for personal, family, or household purposes.

"Commercial party" means the person from whom money, property, or services are acquired under the consumer contract that is a seller, lender, participating lender, lessor, creditor, or assignee.

"Debt buyer" has the meaning given to that term in Section 2 of the Collection Agency Act.

(Source: P.A. 103-344, eff. 1-1-24.)