Thursday, February 10, 2005
CREDITWRENCH, the FDCPA, and the law Part VIII
CREDITWRENCH CEO Bill Bauer advises:
"...most of my students can easily rack up as many as 8 or 10 or more violations so the damages can easily run to maybe $10,000 or more per student. Once the student has sufficient violations they will be reported..."
As was pointed out by me on a prior posting, the FDCPA only allows for $1,000 in statutory damages per action, not per violation. And, under claim preclusion doctrine, you can't wait for 8-10 violations to accrue then file separate lawsuits for each violation, they would have to be litigated in aggregate.
Just more false and misleading information being provided by CREDITWRENCH CEO Bill Bauer
