Law Firm Weltman, Weinberg & Reis Continues Steady Growth in Region and Beyond

Alan Weinberg can empathize with Kermit the Frog. The Muppet character is famous for lamenting that “it isn't easy being green.” Weinberg might add “or being in the debt collection business.”

In a society befuddled with debt and with collections actions on the rise, those who help companies recover the money and goods owed to them are often cast as the villains.

“Most people are responsible and pay their debts,” said Weinberg, managing partner of Cleveland-based Weltman, Weinberg & Reis, Co., L.P.A. (Weltman), “But when people are irresponsible and don’t want to pay their debts, they go on the offensive and file complaints in an effort to avoid paying, and that’s what the public hears about.”

“What consumers don’t realize is that the efforts of the debt collection industry help keep prices and the cost of credit down for everyone,” Weinberg added. “Individual consumers have to pay more for goods and are subject to higher interest rates to cover the losses creditors and companies incur from delinquent debtors.” 

Weltman, which specializes in debt collections and real estate default, was founded over 80 years ago in Cleveland.  Steady growth in the last 10 to 15 years has made the firm a dominant force in the collections industry, bringing in more revenue than any other debt collection law firm in the nation, according to Collections & Credit Risk magazine. A blue-chip swelling client base of banks, financial institutions, mortgage lending companies, credit unions, service organizations, manufacturers, utility companies and other consumer creditors continues to fuel growth.  

“When I joined in 1975, the firm had 30 people. We expanded to 300 by the time I was named managing partner in 1995. Today, we have 1,200 employees and we are still adding positions,” Weinberg said. 

Weinberg believes the firm’s dynamic legal approach, dedication to professionalism and focus on employee training is what sets it apart from other collections and legal firms. 

Weltman maintains three operations centers throughout the state of Ohio. These facilities run much like those of the top national collection agencies. Collection professionals in state-of-the-art call centers reach out to inform debtors of their obligation and motivate repayment. 

However, when legal action becomes necessary, Weltman really sets itself apart. The firm’s attorneys represent clients directly in the states of Illinois, Indiana, Kentucky, Michigan, New Jersey, Ohio and Pennsylvania. A recently opened office in Florida will allow it to represent clients directly in that state as well. Outside of these core states, Weltman maintains national networks of qualified attorneys for the filing of legal action throughout the U.S. and its territories. 

“Our networks extend our reach of collection activity and legal representation anywhere that a debtor or debtor’s assets may be located,” Weinberg said, “offering our clients an attractive alternative to managing multiple law firms throughout the country.”

Expanding NEO presence

The mounting mortgage foreclosures and personal bankruptcies nationally are boosting Weltman presence locally. An increase in bad debt translates into a higher volume of accounts from existing clients and a boost to every aspect of the firm’s operations from human resources and accounting to paralegals and collectors. Recent expansions at Weltman’s facility in Brooklyn Heights alone will accommodate an estimated 50 to 75 new jobs with room for additional staff growth.

The biggest employment demand for the firm, Weinberg said, continues to be collection professionals. 

“Finding the best and the brightest collectors is always a challenge, partly because collections isn’t a defined career track for young people,” he said, “but also because few people think ‘I want to be a debt collector when I grow up.’ The truth is this is a very stable industry with lots of potential for advancement.”

To spread the word, Weltman has active recruitment programs reaching out to high school and college students and to those in a position to change career paths due to downsizing and layoffs. It also has an aggressive performance-based bonus program to attract and retain collections professionals. 

The firm is also hiring well-qualified support staff for both its legal and collection operations and is always on the lookout for talented paralegals and attorneys.

Employee Focus

Weinberg said the firm’s long history and established client base appeal to individuals looking for job security. It offers a competitive benefits package that includes healthcare, dental, vision, profit sharing, 401(k) and days of paid vacation in the first year. 

Yet, one of the biggest draws is the company’s focus on employees. A robust, in-house training program called “WWR University” lets employees at every level participate in training that pertains to both their role at the company and general business-related skills. Classes range from workflow improvement and the operation of basic business software to those designed  to advance employees within the company on topics such as conflict resolution, diversity awareness and team management techniques. 

The recent addition of sophisticated teleconferencing equipment connects all offices and has allowed the firm to enhance its training program by providing firm wide educational experiences. 

“We can now do training programs without moving people from one office to another,” he said. “Through these training programs, we encourage our staff to develop professionally and prepare themselves for advancement within the organization.”

The firm, for example, recently established a Leadership Development Program in which it identified high potential non-attorney leaders from various areas of business operations. The year-long training will expose the participants to cross-training on all aspects of the firm, along with improving their people and management skills. 

Dedication to Professionalism

Training directly related to the creditors’ rights industry is also integral to the firm’s success. 

“Our employees are trained and tested annually regarding consumer rights and federal and state regulations relating to collections efforts.” Weinberg said. “Treating consumers with the utmost professionalism is always stressed.” 

Indeed, Weltman’s emphasis on professionalism comes from the top down. Weinberg answers his own phone and doesn’t hesitate to speak directly with individuals about the collection process and their rights. Professionalism and quality legal work are echoed among partners and firm leaders and has helped the firm earn respect among its peers. Weinberg, making the list for the seventh consecutive year, and his fellow partners Allen Reis and Scott Weltman were recognized as top lawyers within the bankruptcy and creditor/debtor rights practice area in the June/July 2010 Super Lawyers – Corporate Counsel Edition Magazine - a listing of outstanding lawyers who have attained a high degree of peer recognition and professional achievement. 

“The fact that the people we deal with on the other side of the fence say we are professional and good at what we do is very rewarding,” Weinberg said. “That speaks volumes.”