On April 17, 2017 the Consumer Financial Protection Bureau ("CFPB")
filed a lawsuit in a federal district court against
Weltman, Weinberg, & Reis Co., LPA, a debt collection law firm which has operates in several states,
including New York, New Jersey, and Florida.
The complaint alleges that the collection firm used illegal tactics while
collecting debts from consumers. Specifically, the lawsuit claims that
the law firm of Weltman, Weinberg, & Reis ("WWR") issued
millions of collection letters that deceptively gave the impression that
attorneys were involved in the collection of those debts, when there actually
was no meaningful review by an attorney on those accounts. The CFPB is
attempting to stop WWR's seemingly unlawful collection practices and
compensate consumers who have been harmed by their deceptive debt collection attempts.
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The Weltman law firm states that they are cooperating with the CFPB investigation,
and WWR's managing partner, Scott Weltman, fundamentally disagrees
with the allegations and asserts that their law firm has taken reasonable
steps to ensure compliance with applicable statutes. "The result
of the CFPB's investigation of our law firm is based on its interpretation
of the law, and not on any actual violation of federal or state laws or
regulations as they are written today," Weltman said. "We will
continue to vigorously defend WWR's honest, ethical and compliant
collection practices, and we look forward to our day in court."
The CFPB claims violations by
Weltman, Weinberg, & Reis Co., LPA of these consumer protection statutes:
Fair Debt Collection Practices Act (FDCPA)
- Dodd-Frank Wall Street Reform Act and Consumer Protection Act
A section of the
CFPB complaint states the firm would send letters on their law firm letterhead stating
"Attorney At Law" at the head of the leter and the firm's
name in the signature line. Some collection letters threatened possible
legal action. Additionally, debt collectors are alleged to have informed
consumers by phone it was the largest “collection law firm in the
United States”, or that their debt has been “placed within
the collections branch of our law firm”. These confusing collection
practices may lead consumers to wrongfully believe that an attorney had
meaningful review of their individual files and that their debts had been validated. This
may have caused some consumers to mistakenly believe that their cases
were on the verge of litigation.
Example creditors that have hired the law firm of Weltman Weinberg &
Reis Co. LLP:
Sallie Mae (SLM Private Education Loan Trust)
- Navient Credit Finance Corporation
- VL Funding LLC
About Weltman, Weinberg, & Ries Debt Collection Lawyers
With headquarted in Cleveland, Ohio, Weltman Weinberg & Reis Co., LPA
collects consumer debts nationwide, but they file lawsuits only in Illinois,
Indiana, Kentucky, Michigan, New Jersey, Ohio, and Pennsylvania. They
collect many types of defaulted accounts, including:
credit card debts,
- installment loan contracts,
- mortgage loans, and
- private student loan debt
New York & New Jersey Consumer Protection Lawyers
At the Law Office of Simon Goldenberg, PLLC, we are dedicated to zealously
advocating on behalf of aggrieved consumers that have fallen prey to unscrupoulous
debt collectors. We help enforce our client's rights under
consumer protection laws including the FDCPA, FCRA, TCPA, and unfair, deceptive, or abusive
acts and practices (UDAAP), as defined by the Dodd-Frank Act.
If you're rights have been violated by a debt collector, you may be
entitled to compensation. If you reside in NY or NJ, contact our experienced
consumer advocacy law firm to learn how we can help. For a free case evaluation,
call our team at (877) 717-0098.