Arlington Heights bankruptcy lawyer

Know the Right Time to File Bankruptcy to Regain Financial Losses

According to a law review posted this year, the longer an individual delays in filing bankruptcy the more difficult it gets. This not only damages the person financially, but it affects his or her well-being or health. Once debt becomes unmanageable and assets start depleting, lawsuits for debt collection start piling up and people become unable to afford basic necessities. For this reason, it is important to understand the right time to file for bakruptcy.
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Increase Bankruptcy Among Elderly is Becoming a Social Issue

According to new research, more seniors are facing financial crises than ever. Bankruptcy cases filed by Americans 65 years and older are increasing in number and that number is likely to keep growing. Some experts believe that it brings about a grave social issue worth looking into. This could be a result of rising medical costs, low savings, and dwindling pension benefits.
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How can I Stop the IRS From Garnishing My Wages?

When your paycheck is garnished by the either the Internal Revenue Service (IRS), the Department of Workforce Development, or the courts, it can wreak financial havoc in your otherwise stable life. Furthermore, becoming gainfully employed should you lose your current job will be nearly impossible. Although, according to law, employers are not allowed to discriminate against an employee suffering from wage garnishment, disclosing that information on an application before you are hired may raise red flags.
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Newland & Newland, LLP Wins Prestigious BBB Accreditation Award

Our team at Newland & Newland, LLP is proud to announce that we have been awarded the Better Business Bureau’s Certificate of Accreditation. Our accreditation period began in June 2018 and will continue through May 2020. We plan to continue providing top notch legal services to our clients and continuing to be BBB certified for years to come. The Better Business Bureau (BBB) awards its Certificate of Accreditation to companies that exhibit its eight standards for trust. These are:
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Should We Tell Our Kids We are Filing for Bankruptcy?

Discussing finances with your children is hard. Many parents avoid this topic because they feel it is taboo to discuss money and financial issues with their children, sometimes because they do not want the children to worry about the family’s finances and in other cases because they have been conditioned to view these topics as private matters. As a parent, it is your job to set your child up for financial success later in his or her life.
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Managing Your Debt to Avoid Bankruptcy After Losing Your Job

In a few earlier blog posts, we discussed Toys R Us’ struggle to stay afloat in today’s increasingly online marketplace and its subsequent decision to file for bankruptcy. Now, the company is closing all of its 800 stores in the United States, leaving approximately 31,000 employees without jobs.
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Twin Cities Archdiocese Bankruptcy Plan Rejected

In late December 2017, federal bankruptcy judge Robert Kressel rejected the settlement plan put forth by the Archdiocese of Minneapolis & St. Paul. The Archdiocese of Minneapolis & St. Paul originally filed for bankruptcy in 2015 as it faced allegations of sexual abuse. In rejecting the plan, the judge required the archdiocese to renegotiate its settlement plan to include all parties entitled to recover compensation from the settlement.
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What to do if You Receive a Gift Card for a Retailer Facing Bankruptcy

Over the past decade, gift cards have become a popular holiday present. Giving gift cards is easy – they are small, so there is not much wrapping required, and because they permit the recipient to purchase whatever he or she likes from the retailer, they eliminate the pressure to choose a gift the recipient will like.
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