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Collection Law Firms

Debt collection law firms, also known as creditor’s rights law firms, focus on the collection of debt through the court system. While traditional collection agencies are not authorized to file lawsuits against debtors, collection attorneys specialize in taking debt cases to court to try to obtain court-ordered judgments against debtors.

In addition to teams of legal professionals, many collection law firms have extensive collection operations that conduct more traditional debt recovery activity.

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CFPB Announces Consent Orders Against Law Firm and Debt Buyer

Yesterday the CFPB announced that a New Jersey law firm and a debt purchasing company had agreed to pay $2.5 million in response to the agency’s assertions regarding the filing of “mass-produced” lawsuits. The law firm, Pressler & Pressler, issued a strong response, noting that no restitution or invalidation of judgments was required in the agreement, and that the settlement is not about laws or rules that are currently in place.

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Law Firm No Longer Needs to Be Licensed as Debt Collector in Mass – The Story Behind the Reversal

In an April 1, 2016 letter the Massachusetts Division of Banks (Division) has reversed its position regarding licensing of law firms as debt collectors in the state. The Division now says that a Massachusetts law firm and/or other similarly situated law firms will not need to become licensed to engage in debt collection in the Commonwealth. This single issue seems to have been a gigantic waste of time and resources.

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Executive Change: Weltman, Weinberg & Reis Co., LPA Welcomes Attorney David Mullen in Brooklyn Heights

Brooklyn Heights, OH — Weltman, Weinberg & Reis Co., LPA (WWR), a full-service creditors’ rights law firm, welcomes Attorney David Mullen to its Brooklyn Heights, Ohio office. Mr. Mullen will practice in general consumer collections and legal matters. Prior to joining WWR, his experience included class action, mass tort, and other civil matters. Mr. Mullen […]

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Executive Change: Weltman, Weinberg & Reis Co., LPA Announces the Election of New Shareholders

Weltman, Weinberg & Reis Co., LPA (WWR), a full-service creditors’ rights law firm, is proud to announce the election of three new Shareholders: David S. Brown, Ted M. Traut, and David A. Wolfe. “I am thrilled to welcome this talented group of lawyers as shareholders of the firm. Each exemplifies the professionalism and commitment to excellence in client […]

Industry Self-Policing Goes Back to 1928; NARCA Follows Suit

In a January 15, 2016 article in American Banker Magazine (Banks Can Use ‘Code of Ethics’ to Strengthen Public Trust), Robert Taylor points out “…an advantage of developing an ethics code is that, unlike bank regulatory policy that must be adjusted constantly depending on the jurisdiction and interpretation, ethical standards are basically timeless. In fact, […]

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Texas Law Firm to Pay $3.4 million – Settling Class Action Matter Alleging Unauthorized Practice of Law in California

On January 8, 2016 a Federal Judge in California approved a settlement in the matter of 4EC Holdings v. Linebarger Goggan Blair & Sampson (Case No 3-14-cv-01944, N.D. California) whereby the defendant law firm will pay $3.4 million dollars to resolve claims made in a class action proceeding that the firm violated the California Unfair […]