Credit Damage Blog

For about a century courts have been all over the legal map in determining whether credit damage claims are speculative. Generally the determination has been based on the nature of the pleadings or the inability of counsel to provide a measurement of credit damage. The difficulty in proving such a claim was the lack of a method to prove the existence of the fact or to provide meaningful basis for monetization of such damage.

The successful objection that credit damages are speculative ended with the experts ability to prove the fact of credit damage. Among the elements found in credit reports is information provided by creditors concerning the failure of individuals to make timely payments on accounts. These facts are evidence of inflicted credit damage when the failure to make payments is the result of wrongdoing. These adverse remarks will be used by any future creditor in making a determination of creditworthiness or credit capacity. The adverse information found in credit reports will remain in the reports for seven years, a fact which an expert utilizes to calculate credit damages.

To illustrate this we will return to Sandy. Over time Sandy, who claims to have been wrongfully discharged from employment, has become unable to meet credit obligations. Credit card payments have become late. From time to time Sandy’s mortgage payment is not made on time. Car payments are late. All of these events are reported to the credit agencies and provide evidence of the damages resulting from the wrongful discharge. The information provided will make it more difficult for Sandy to qualify for credit when she applies for it, and when credit is provided, it will be for less money and at a higher interest rate. A qualified expert can utilize those facts to calculate damages to present to a judge and jury.

To give yourself the best opportunity to recover credit damages, you should utilize the services of an expert, such as Georg Finder. The expert you retain should be able to calculate credit damages and testify about the elements of a credit report, the significance of those element, how the information in a credit report is used by creditors, and why the existence of credit damage is not improbable. Credit damage therefore need no longer be relegated to the realm of speculative damages and now can be proven as an element of special damages.

To learn more about the kinds of cases where credit damage are available, see http://www.creditdamage.com.