John Ulzheimer Can Be Reached at 1-866-985-8884
2012 has seen a significant increase in Fair Credit Reporting Act (FCRA) lawsuits. The first 7 months of the year the number was up over 61% from the same time period in 2011. Consumers are taking their arguments with the credit bureaus and their data furnishers to the courts. In fact, if you combined Fair Debt Collection Practices Act (FDCPA) lawsuits to the FCRA lawsuits we’ll be near 12,000 actions in 2012. This, of course, does not include civil actions with a credit damage component. Point being, banks, collection agencies and credit bureaus are being sued at a historic rate.
Banks, collection agencies, and credit reporting agencies deserve the same high level expert witnesses as do consumers. The problem is there just aren’t many seasoned credit expert witnesses who have significant experience from within the industry. And, many of the more popular credit reporting expert witnesses do the vast majority of their work for Plaintiffs. My case load, which is well over 100 cases at this point, is more evenly distributed between consumers and credit industry players.
A good credit reporting expert witness can perform a variety of functions including, but not limited to:
- Credit Report Review
- Credit Damage Assessment (Also called an “Impact Analysis”)
- Economic Credit Damage Assessment
- Crafting Expert Reports and Rebuttal Expert Reports
- Deposition or Trial Testimony
- Assisting with Discovery
- Adverse Expert Deposition Preparation
- Assessment of Reasonableness of Procedures
- Hand Scoring (manually scoring a consumer credit report to determine the value of credit file changes)
At the end of 2012 I will have completed my 21st year in the consumer credit industry. I worked for Equifax for 6 years. I worked for FICO for 7 years. I worked with and for Credit.com for 6 years. And, I’ve served as an expert for many of the largest lenders, debt buyers and collection agencies, as well as for Plaintiff consumers. I am twice FCRA Certified, once by the Consumer Data Industry Association (CDIA) and their predecessor organization, the Associated Credit Bureaus (or ACB). I am the credit contributor for Mint.com, CreditSesame.com, SmartCredit.com, and the National Foundation for Credit Counseling.