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BULGER v. THORP CREDIT INC. OF ILLINOIS

Nos. 78-2023, 78-2024.

609 F.2d 1255 (1979)

Richard M. BULGER and Nancy L. Bulger, Plaintiffs-Appellees, v. THORP CREDIT INC. OF ILLINOIS, Defendant-Appellant. John BAUGHMAN and Cathy Baughman, Plaintiffs-Appellees, v. ITT THORP CORPORATION, Defendant-Appellant.

United States Court of Appeals, Seventh Circuit.

Decided December 3, 1979.

Attorney(s) appearing for the Case

Barry M. Barash, Galesburg, Ill., for plaintiffs-appellees.

Aaron Kramer, William T. Kirby, Chicago, Ill., Barney Olson, II, Galesburg, Ill., William V. Altenberger, Peoria, Ill., for defendant-appellant.

Before SWYGERT, SPRECHER and BAUER, Circuit Judges.

SPRECHER, Circuit Judge.

Thorp Credit Inc. of Illinois appeals from two lower court judgments imposing liability for violations of the Truth in Lending Act, 15 U.S.C. § 1601 et seq. The questions presented in both appeals are identical: was the district court correct in concluding that Thorp violated the Act by failing to reveal on its disclosure statement a claimed security interest in boats and recreational vehicles even though the debtors had no interest in...

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