Credit damage expert witnesses are in short supply and high demand. Assigning a dollar amount to a change in a credit report or a FICO credit score is a complex task.  A credit damage expert must be able to testify not only as to the changes on the credit report and to the credit score but also to any changes in a consumer’s credit reputation caused by negligence.  Finally, a credit damage expert must also be able to identify embellished and disingenuous accusations of lender misconduct and subsequent economic credit damage report conclusions.

As a credit damage expert with over 100 cases I’m commonly asked to perform the following tasks;

Credit Report Reviews – This is a basic function of a credit damages expert witness.  This process includes reviewing credit reports produced in discovery and set the baseline credit rating/standing of the consumer/s involved in the litigation.  This is important because most credit damage claims allege a negative impact caused by the actions of a furnisher of credit report data, such as a lender or collection agency/debt buyer.  Unfortunately, the ease of this one task has also allowed others with a familiarity only with reading credit reports into the expert witness field, thus making it harder to choose the right one.

Credit Damage Assessments – This is commonly referred to as an “Impact Analysis.”  This complicated process quantifies the actual damages to credit scores caused by the reporting of some piece of credit information.  This item can be a loan delinquency, an incorrect balance, a collection account, or some other score damaging item.  This process can only be done properly by someone who has deep knowledge of and access to credit scoring models.

Economic Credit Damage Assessments – I use three of the more commonly used metrics for quantifying credit damages and can place an exact number or range on credit damages/losses.  This is just as effective on the Plaintiff’s side or the Defense’s side, which I’m on about 50% of the time.  I will ensure that any adverse damage assessments aren’t simply a series of embellished numbers meant to scare up larger settlements.

Expert Witness Reports and Rebuttal Expert Witness Reports – All of my experts reports are written in the Rule 26 format, regardless of jurisdiction.  My reports are crafted only after a thorough review of relevant documentation.  Finally, my opinions are always communicated in easy to understand language, which is important as the credit industry processes and protocols can be very complicated.  I’m very familiar with the reports crafted by most of the “Plaintiff’s only” expert witnesses and have successfully dissected them many time over.

Testimony – While it’s certainly less common, I have successfully testified in both the deposition and trial environments, doesn’t of times.  I’ve been qualified as an expert in both Federal and state courts.

Discovery Consulting – In credit related lawsuits there is always a need for credit reports (past and present), declination communications from lenders, and FICO credit scores.  I’ll ensure that you know what to ask for, or why you’re being asked to hand over certain items.  And when it comes time to requesting archive credit reports from the credit reporting agencies, you’ll be more successful limiting your request to the exact archive dates needed for your case.

Adverse Expert Witness Depo Prep – The credit damage expert industry is fairly small and most of the experts do almost 100% of their work for consumer Plaintiffs.  Because my case distribution is balanced, I run into the same experts time and time again.  I am familiar with their styles, abilities, and weaknesses.  Before you depose an adverse credit damage expert witness, I will have provided you with a list of inquiries meant to identify lack of knowledge and credibility.

Manual Credit Scoring – This is also called “hand scoring” and it’s the process whereby I convert credit report data into the series of characteristics and variables used in a consumer’s credit scores.  This process requires intimate understanding of credit scoring models, from the inside out.  This is common when I’m calculating historical credit scores from archive credit files.  The reason…the credit reporting agencies cannot reproduce archive credit scores (credit scores from some past point in time).

I’ve built FICO scorecards, managed the credit bureau dispute process, helped to developed the consumer website businesses where credit data is being sold, trained credit bureau sales representatives, developed FICO score training programs, have made countless credit related presentations of varying levels of complexity and have been published hundreds of times and quoted thousands of times since 2002 on the subject of consumer credit.

I am twice FCRA certified (Fair Credit Reporting Act) by the Consumer Data Industry Association (CDIA), which is the trade association of the credit reporting agencies. 

I am proud to call many of the largest banks, collection agencies, debt buyers and insurance companies my clients and have roughly a 50/50 case distribution between Plaintiff and Defendants.  I passed 100 cases at the end of 2011.

Please contact John Ulzheimer at 1.866.985.8884 to discuss your case and credit damage expert needs.