Weltman's Top 10 Articles of 2025

What a year! In 2025, Weltman expanded our presence with a new office in Sarasota, FL, welcomed 22 talented new attorneys across our footprint states, and celebrated 95 years of excellence in the creditors' rights industry.

We also gave back to our communities by donating $15,000 to local food banks in the Feeding America network, helping those in need this holiday season.

This year, we published over 70 informative News, Alerts, and Insights on our website, recorded 15 live webinars—attended by more than 1,000 participants—which are all free to view on demand, and stayed connected with our followers through regular updates on LinkedIn, Facebook, and Twitter.

As 2026 approaches, we want to share our top ten blogs of the year and send our best wishes for a happy and healthy holiday season and a joyous New Year. Know that in 2026 and beyond, Weltman is here for all of your creditors' rights needs.

On or before October 15th of each year the Ohio Tax Commissioner is required, in accordance with Ohio Revised Code §5703.47, to determine the interest rate for certain taxes and other purposes. The rate is computed by taking the federal short-term interest rate as defined by 26 U.S.C. §1274, rounding it to the nearest whole number, and adding 3%. Pursuant to Ohio Revised Code §1343.03(A), this rate applies to all judgments granted by Ohio courts, unless said judgment arises from a written contract that provides for a different rate of interest.  
 

Weltman, Weinberg & Reis Co., LPA (Weltman) is excited to officially announce the opening of their Florida office in the city of Sarasota. This expansion follows the integration of Hodges, Avrutis & Foeller, a highly respected law firm led by Attorneys Scott Foeller and Thomas Avrutis, who have now joined the Weltman team.
 

According to recently published data from Epiq Bankruptcy Analytics, the upward trend of bankruptcy filings continues nationwide. Total bankruptcy filings year-to-date in 2025 are up 23.5% over 2024, while total chapter 7 filings show a 19.8% increase, and chapter 13 filings show an 8.3% increase.
 

Domesticating foreign judgments can become a critical tool in the collection process.  Understanding the nuances of domesticating and enforcing judgments can improve your ability to collect on the debt owed to your institution. Attorney Nick Rohner, a seasoned professional in commercial collections and judgment enforcement, recently shed light on the process of domesticating foreign judgments during a recent  #CommercialCollectionsCorner webinar.
 

On January 7, 2025, the Consumer Financial Protection Bureau (CFPB) finalized amendments to Regulation V, which implements the Fair Credit Reporting Act (FCRA), titled Prohibition on Creditors and Consumer Reporting Agencies Concerning Medical Information. The new rules broadly restrict how creditors can use medical debt information to determine borrower eligibility and broadly restrict what consumer reporting agencies can report about medical debt information to creditors. 
 

Probate claims are a reality for banks and financial institutions handling deceased customers' debts. In the U.S., nearly three-quarters of Americans die with debt, with an average balance of $61,000. When an estate is opened, creditors must act quickly to recover what is owed. However, in an effort to maximize distributions to heirs, executors often reject creditor claims. Many creditors, instead of contesting these rejections, simply walk away, which leaves significant recoveries uncollected. In fact, over 10% of all our probate claims are rejected, representing more than $8.9 million in claims. Clearly, giving up too soon means leaving real money on the table.
 

It’s a call insurance professionals know all too well: “A tree just fell on my car!”

When disaster literally falls from above, one of the first questions asked is: Who’s responsible? That’s where subrogation comes in—and it’s not always as straightforward as it seems.
 

Stepping into a law firm as a law clerk is an exciting and challenging experience for any law student, and especially for international students. For international law clerks, particularly those who pursued legal education in the States, but come from a different academic and cultural background, working at a U.S. law firm presents both common law student experiences and also unique insights and challenges. This article explores key takeaways for international law clerks navigating the U.S. legal system from the perspective of Weltman Attorney Keying (Chloe) Chu from China.
 

Over the past 25 years, consumers have used The Redemption Theory as a basis for fraudulent debt elimination schemes that have become pervasive and widespread on the internet. It is incredibly important for every type of creditor to understand how to protect their interests against such schemes.

The scheme proceeds as follows: consumers create their own “bill of exchange” stating that the U.S Department of the Treasury, or some other third party, shall be responsible for paying the debt at hand, the consumer presents such bill of exchange as payment to their creditors, the creditors refuse to honor such meaningless pieces of paper, and thus the consumer sues their creditor for the creditors refusal to accept the bill of exchange as payment.

 

Ohio House Bill 632 (HB 632), currently under review in the House Committee, introduces several proposed reforms that could significantly impact the foreclosure process in Ohio. If passed, this bill will streamline foreclosure proceedings, reduce costs, and provide more efficient mechanisms for mortgage servicers to manage defaulted properties. For servicers, understanding the key provisions of HB 632 and its potential benefits is crucial.