What Velo Law does

Velo Law Office is a multi-state creditors' rights law firm headquartered in Grand Rapids, Michigan, founded in 2010 and licensed to practice in Michigan, Ohio, Indiana, Montana, Wisconsin, and South Dakota. The firm operates as an integrated collection agency and law firm, offering pre-collection/early-out services, standard traditional collections, and full legal/judicial collections, with ancillary services covering creditor bankruptcy, replevin, eviction, foreclosure, and garnishment. Its core technology stack comprises purpose-built systems for electronic data import, multi-source commercial data access, workflow automation, and data-driven litigation cost modeling using account scoring and return-on-cost thresholds, supported by a CLAW client portal and a StratusPayments-powered 24/7 consumer payment portal.

Velo Law's business model is sales-led B2B, targeting enterprise creditors across healthcare, banking, fintech, auto finance, and property management verticals. Revenue is generated on a transaction-fee (contingency) basis across each stage of the collections lifecycle, with single-placement portfolio management enabling creditors to route pre-collection, standard, and legal accounts through one vendor. The firm reports recovering hundreds of millions of dollars for clients nationwide, holds RMAI Certified Receivables Business status and SOC 2 compliance, and is led by founder/President Scott Renner, Managing Attorney Joshua Kosmerick, and Business Development Executive Neil Mastellone.

In December 2024, Velo Law expanded through the acquisition of Congress Collection, a family-owned third-party debt collection agency founded in 1957, adding its proprietary scoring system and Michigan-based client base. The firm employs 60+ professionals including debt collection attorneys, paralegals, in-house collections representatives, and 75+ collections recovery specialists, with no disclosed external funding rounds and ownership remaining privately held under Renner.

Name

Velo Law

Legal name

Velo Law Office

Website

https://velo.law

Company type

Private

Founded year

2010

Operating status

Operating

Headcount range

51–100 employees

Short description

Velo Law is a multi-state creditors' rights law firm in Grand Rapids, Michigan, offering pre-collection, traditional, and legal/judicial debt recovery services to enterprise creditors in healthcare, banking, fintech, auto finance, and property management across six U.S. states.

Ownership category

akta.pro rank

Product category

Debt Collection Legal Services

NAICS

Collection Agencies (56144)

SIC

Services-Consumer Credit Reporting, Collection Agencies (7320), Services-Legal Services (8111)

akta.pro primary industry

Legal Collections Support (Pre-Lit, Litigation Admin, Judgment Recovery) (BPAAAEAH)

akta.pro secondary industry

Third-Party Debt Collection Agencies (Consumer & Commercial) (BPAAAEAB)

Keywords

• Debt collection services
• Creditor rights law
• Legal collections
• Consumer debt recovery
• Commercial receivables

Headquarters

HQ city

Grand Rapids

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

1. Legal/Judicial Collections: Full-service legal collections including litigation, judgment enforcement, garnishment, and judicial recovery services. Clients include creditors across healthcare, banking, fintech, and auto finance sectors.
2. Pre-Collection/Early-Out Services: In-office collections representation for early delinquency accounts to prevent consumer default through proactive contact and payment negotiation
3. Standard/Traditional Collections: Traditional collections floor services complementing legal collections, allowing single-placement portfolio management for creditors

Pricing tiers

Go-to-market motion1 record

Distribution channels3 records

Marketing channels6 records

Core offering

Velo Law is a multi-state debt collection law firm that recovers past-due consumer and commercial accounts on behalf of creditors through an integrated platform combining a collection agency floor with a licensed creditor-rights law practice. It offers Pre-Collection/Early-Out Services, Standard/Traditional Collections, and Legal/Judicial Collections (litigation, judgment enforcement, garnishment, creditor bankruptcy, replevin, eviction, foreclosure) under one roof, supported by purpose-built technology and licensed practice in six states.

Product overview

Velo Law is a multi-state debt collection law firm offering integrated collection and legal services as a unified creditors' rights platform. The firm operates as both a collection agency and law firm, providing Pre-Collection/Early-Out Services, Standard/Traditional Collections, and Legal/Judicial Collections as core offerings. Supporting modules include a Client Portal (CLAW) for creditor portfolio management, an Online Payment Portal via StratusPayments for 24/7 consumer payments, Garnishee Calculators for employer compliance, and Payment Plan systems including Recurring Billing Authorization. The firm also offers ancillary services including Creditor Bankruptcy, Replevin, Eviction, and Foreclosure services. Recent expansion came through the December 2024 acquisition of Congress Collection, adding their proprietary scoring system and operational expertise to the platform. The firm serves diverse creditor clients across healthcare, banking, fintech, auto finance, and property management sectors.

Differentiator

Problem solved

Functional benefit

Products and services

• Pre-Collection / Early-Out Services In-office collections representatives seek payment for accounts in early delinquency stages to prevent consumer default through proactive contact and payment negotiation; designed to be tackled earlier rather than later via workflow partnerships with client systems.
• Standard / Traditional Collections Traditional collections floor services complementing legal/judicial collection services, allowing clients to place portfolios in a single location without dividing accounts between agencies and firms.
• Legal / Judicial Collections Full-service legal representation for accounts that yield the best return on investment through litigation and legal enforcement, including litigation process management, judgment enforcement, garnishment, creditor bankruptcy, replevin, evictions, and foreclosures for creditors across Michigan, Ohio, Indiana, Montana, Wisconsin, and South Dakota.
• Consumer Receivables Services Debt collection services for consumer accounts, including communication with consumers, payment negotiation, and resolution of past-due accounts under the Fair Debt Collection Practices Act and applicable state regulations.
• Commercial Receivables Services Debt collection services for commercial accounts, serving business creditors across various industries with recovery strategies tuned to B2B receivables, commercial relationships, and business-to-business collection law.
• Congress Collection (acquired brand) Family-owned third-party debt collection agency brand acquired in December 2024, founded in 1957, known for professionalism, compliance, and a consumer-first approach with proprietary scoring systems; now offered as part of Velo Law's integrated collection and legal platform with Congress Collection clients accessing the firm through the CLAW client portal.

Quantifiable outcome

• Recovered hundreds of millions of dollars for clients nationwide

Named customers5 records

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration2 records

Feature5 records

Partnerships

Eight partnerships are on record, tiered core and minor.

• Congress CollectioncoreStrategic or Co-development Partner · 1 November 2024Acquired by Velo Law in late 2024, Congress Collection is a family-owned third-party debt collection agency founded in 1957. The acquisition combines Congress Collection's operational expertise with Velo Law's legal capabilities, strengthening both organizations. Congress Collection brings a proprietary scoring system and consumer-first approach aligned with Velo Law's mission and values.
• RMAI (Receivables Management Association International)coreOthersCertified Receivables Business through third-party audit and ongoing education. Provides trust, education, industry connections, and regulatory recognition for certified firms.
• ACA InternationalminorOthersMembership organization for the accounts receivable management industry providing education, networking, and industry resources.
• National Creditors Bar Association (NCBA)minorOthersMembership association reinforcing credibility and compliance at state and federal levels.
• Michigan Creditors Bar AssociationminorOthersState-level membership association for creditor rights law firms in Michigan.
• Great Lakes Credit and Collection AssociationminorOthersRegional association for credit and collection professionals in the Great Lakes area.
• Receivables InfominorGTM or Marketing PartnerMedia partnership for webinars and industry content. Velo Law featured on Receivables Info webinars discussing client services, business development, and collections strategy.
• Friends of Grand Rapids ParksminorOthersCommunity partnership for environmental initiatives including ArborFest 2025, where 17 Velo Law employees planted 203 trees in Grand Rapids neighborhoods.

Scale indicators5 records

Recent moves7 records

Expansion highlights5 records

Direct peers

• Cohen & Slamowitz LLP: New York-based debt collection law firm focused on creditor-side litigation and recovery. Direct peer with similar technology-forward positioning and multi-state creditor rights practice.
• Weltman, Weinberg & Reis Co., LPA: Ohio-based creditor rights law firm offering foreclosure, collections, bankruptcy, and litigation services across multiple states. Direct competitor to Velo Law in the multi-state creditor rights law firm niche with comparable service breadth.
• Pressler & Pressler LLP: New Jersey-based debt collection law firm with national practice handling high-volume consumer debt litigation. Direct peer competing for similar consumer and commercial creditor mandates via attorney-driven collection operations.
• Rubin & Rothman LLC: New York/New Jersey-based creditors' rights and collections law firm providing legal recovery, foreclosure, and bankruptcy services. Direct peer in the multi-attorney creditor rights law firm space serving similar bank and credit union clients.
• Clunk, Hoose & Co., LPA: Ohio-based creditors' rights law firm providing collection, foreclosure, and bankruptcy representation. Comparable mid-size peer operating in overlapping Midwest geographies and serving similar bank and credit union clients.

Broad incumbents

• Encore Capital Group: Publicly traded (NASDAQ: ECPG) global debt buyer and collector operating across the US, Europe, and Latin America. Much larger incumbent that both purchases charged-off debt directly and provides outsourced recovery services, competing for creditor mandates at greater scale than Velo.
• Afni Inc. Established US contact center operator with sizable receivables management and insurance services lines. Larger incumbent competing for the same healthcare, financial services, and consumer collections contracts Velo targets.
• PRA Group: Publicly traded (NASDAQ: PRAA) global debt buyer and collector with operations across the US, Canada, Europe, and Australia. Industry incumbent that buys and recovers defaulted receivables at scale, competing with Velo for creditor placement and portfolio acquisition opportunities.
• Transworld Systems: Large US third-party collection agency providing outsourced recovery, early-out, and legal collection services nationwide. Operates at significantly larger scale than Velo and serves overlapping creditor verticals including healthcare, banking, and commercial.

Emerging players

• TrueAccord: Tech-enabled digital-first debt collection platform using machine learning and consumer-centric outreach. Adjacent competitor pursuing the same creditor customers with a software-led model that contrasts with Velo's traditional agency-plus-law-firm approach.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks5 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/@receivablesinfo
• LinkedInlinkedin.com/company/velo-law-office
• Facebookfacebook.com/profile.php

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Subsidiaries1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Velo Law