Fair Credit Reporting Act Lawsuits Skyrocketing in 2015, Credit Expert Witnesses Are In Demand

Posted by John Ulzheimer - September 22, 2015 - Credit - No Comments

Fair Credit Reporting Act lawsuits filed in August 2015 were up 83% from the same month in 2014. And while one month out of twelve doesn’t tell an “annualized” story, FCRA lawsuits are up 32.3% year to date relative to the same time period from last year. These statistics are according to Michigan based WebRecon, a company that tracks Fair Credit Reporting Act lawsuit filings.

My Fair Credit Reporting Act and Fair Debt Collection Practices Act caseload has increased in 2015 with more attorneys needing credit expert witnesses in their cases. If you need a credit expert witness please call John Ulzheimer at 1.866.985.8884.

While these numbers are impressive, they don’t tell the whole story. Fair Credit Reporting Act and Fair Debt Collection Practices Act lawsuits aren’t the only ones that often need the work of a credit expert witness. There are many other lawsuit types that require the work of a credit expert. For example, I have had several divorce cases where one party agreed to pay creditor liabilities, but did not and thus the other ex-spouse claimed credit damages.

It appears that several attorneys have been more active in filing consumer cases than others. There were 10 attorneys that filed at least 20 Fair Credit Reporting Act lawsuits in August alone. There are 10 attorneys that have filed over 100 of these lawsuits in 2015 alone, and we’re just now seeing the data through August. One lawyer has filed almost 200 cases.

Further, it appears there are favorite jurisdictions for FCRA lawsuits as well. There were 10 courts were there were at least 28 consumer lawsuits, and 3 of those courts had at least 50 cases filed.

While many of these credit lawsuits will never see the inside of a courtroom, a considerable percentage will require the work of a credit expert witness with experience in the credit industry. Most of these credit related lawsuits include allegations of credit score damage and other economic credit related damages. Some have merit, and some seem entirely fabricated.

In my 185 cases I’ve had the pleasure of working with both Plaintiffs and Defendants in credit related disputes. Like when choosing a lawyer, choosing an expert witness is equally important. The wrong expert can have their testimony stricken because they’ve tried to offer an expertise that’s clearly outside of their “sand box” or they’ve gone too far in being too definitive in their opinion.

The challenge when looking for a credit expert isn’t about geography. In fact, I’ve had only a small handful of cases in GA where I live. Most of my cases are hundreds or thousands of miles away. When choosing an expert it’s most important to find someone who actually has a forensic understanding of how credit reporting and credit scoring actually works. And the only people who truly have that level of expertise are people who have worked in the industry for credit bureaus and credit score developers. Please give me a call and if we clear conflicts we can discuss your case. 1.866.985.8884.