A waiver of exemption was a provision in a consumer credit contract or loan agreement that allowed creditors to seize, or threaten the seizure, of specific personal possessions or property. The property attached to the loan could include a borrower's primary place of residence. Lenders could enact this clause even if state law held the property exempt from seizure.

The Federal Trade Commission (FTC) banned these practices under the Credit Practices Rule of 1985.