Home > Uncategorized > FDCPA and FCRA Suits: an “explosive growth industry”

FDCPA and FCRA Suits: an “explosive growth industry”

March 18, 2011

I’ve defended dozens of FCRA lawsuits since I first learned about the law back in 2003.  And I thought I had a grasp of the big picture – that is, who the most prolific plaintiff’s lawyers were, what they typically sued over, how the cases got resolved, and so on.  But at no time did I consider the FCRA an “explosive growth industry.”

That term has been used – perhaps with good reason – by Jack Gordon, whose company tracks FDCPA and FCRA lawsuits nationwide so that debt collectors, credit bureaus, and creditors know which of their consumers are most likely to go to court over a misunderstanding or mistake.  See his website – which occasionally posts national data – at https://www.webrecon.com/b/homepage/

Statistics taken from his company suggest that 2010 was a record year for these sorts of consumer lawsuits, with almost 14,000 of them filed nationally.  We are down a bit so far in 2011, but the year is still young.  See http://www.collectionscreditrisk.com/news/lawsuits-against-agencies-creditors-drop-3005435-1.html

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