Why Do So Many Credit Lawsuits Come From So Few Attorneys and Consumers? Expert Witness John Ulzheimer 1-866-985-8884

Posted by John Ulzheimer - October 18, 2012 - Blog - No Comments

We all know the drill; you feel like someone has broken the law and you’re the victim so some people hire an attorney and they file a lawsuit.  It’s not complicated.  What I find interesting is how some attorneys seem to attract so much of the same kind of lawsuit work and why so many consumers seem to believe they’ve been victims, time and time again.

For example, according to WebRecon a Michigan based bureau of litigant data, in the second half of September 2012 there were 436 Fair Debt Collection Practices Act (FDCPA) lawsuits filed and 73 Fair Credit Reporting Act (FCRA) lawsuits filed and 41 Telephone Consumer Protection Act (TCPA) lawsuits filed. Of those lawsuits there were 516 unique plaintiffs.  Here’s where it gets tricky.

Of those 516 plaintiffs, 32% of them had sued under one of those consumer statutes in the past. And, in aggregate those 516 plaintiffs have filed over 1,000 lawsuits in the past 11 years. Of the defendants in those suits there were over 500 different collection or creditor companies sued.

One lawyer represents 33 different consumers who filed suit in the second half of September 2012. Another lawyer represents 20 consumers, another 15, another 13, and several represent 11.

Are some consumers really that unfortunate?  Or, are some consumers serial litigants looking, and I’m quoting an attorney friend of mine here…”for a free lunch?”

If you’re in the need of a well experienced credit reporting expert witness with a balanced case distribution (plaintiff/defense) who comes from the credit industry (Equifax, FICO, Credit.com) and is twice FCRA certified by the credit industry’s trade association please contact me at 1.866.985.8884.

Credit Reporting Expert Witness, John Ulzheimer, is the President of Consumer Education at SmartCredit.com, the credit blogger for Mint.com, and a Contributor for the National Foundation for Credit Counseling.  John is twice FCRA certified by the credit industry’s trade association. He is an expert on credit reporting, credit scoring and identity theft. Formerly of FICO, Equifax and Credit.com, John is the only recognized credit expert witness who actually comes from the credit industry and has worked for a credit bureau and a credit score developer.