Michael Bloom v. I.C. System, Inc., a Minnesota Corporation

How courts have described this case

Verbatim parenthetical descriptions written by other courts when citing this decision. Ranked by citation-network relevance.

• holding that informal loan between friends for venture capital investment was not a “debt” because it was a business loan and not for personal use
• explaining that the FDCPA applies only to debts 8 incurred for personal, family or household purposes rather than business or commercial reasons
• for the proposition that “the relevant time is when the loan is made, not 25 when collection is attempted”
• FDCPA does not apply to debts incurred for commercial reasons
• FDCPA 11 “applies to consumer debts and not business loans,” fact that loan was made between friends and 12 lender did not specify use did not change business nature of use of funds to invest in a company

Source: CourtListener parenthetical corpus (CC0).