Blog Archive for November 2009
Monday, November 02, 2009
FDCPA Expert Witnesses in short supply, where do you apply?
According to WebRecon's tracking of FDCPA and other credit related lawsuits we're on pace to hit over 8,500 such suits in 2009. Does that mean the demand for qualified credit expert witnesses is going to increase?
I can tell you that not only is the demand increasing for qualified credit experts but it should remain strong going into 2010. For example, take me. I started the year with 12 cases under my belt. I'm now on my 41st case and it's just the beginning of November.
The demand for the FDCPA expert witness and the FCRA expert witness seems to have increased as the number of cases has increased and that makes perfect sense. The problem is the number of credit witnesses hasn't really increased at the same pace. The same cast of underqualified characters still seems to be mopping up most of the plaintiff's credit expert witness work. There are some opportunities for credit professionals to become a credit expert witness by attending trainings with someone like me but those trainings are few and far between and won't yield enough credit witnesses to fill the demand.
I fear that in 2010 we'll end up with another 8,500 FDCPA lawsuits, FCRA lawsuits or otherwise credit damage lawsuits and only a few dozen really good credit experts to act as expert witnesses. This is not good news for debt buyers, collection agencies, lenders, credit bureaus and consumers. Everyone deserves a strong credit expert witness, regardless of the side they represent. There just aren't that many of us out there. To find a good one you can go to any of these sites...
This article should not be interpreted as legal advice or testimony. It does not represent any conclusive opinion of the author or any of the credit experts from ExpertCreditWitness.com.