Posts

Showing posts from June, 2014

Ed-Tech Bankruptcy Sale and Student Data

FTC Aims to Protect Student Information After Bankruptcy ConnectEDU is an ed-tech company that recently filed forbankruptcy.  With the looming sale of the company’s approximately 20 million student records, the Federal Trade Commission (FTC) has indicated that it will “step in to protect the student data,” according to arecent article in Education Week.  How can bankruptcy put student data at risk? The company, ConnectEDU, has been around for a little over a decade.  According to the article, it “provides interactive tools to help K-12 and post-secondary learners make academic and career decisions.”  ConnectEDU’s privacy policy made a promise to its users that, prior to the company’s sale for any reason, all “registered users would be notified and have the ability to delete their personally identifiable data.”  In other words, a sale of the company could result in the buyer gaining access to personal information from registered users of ConnectEDU.  So why does the FTC need to step in? A…

Consumer Bankruptcies and Medical Debt

What happens when Illinois residents with significant health problems can’t afford their medical bills or the high costs of prescription medications?  Canconsumer bankruptcy help Chicagoans who are buried inmedical debt?  According to arecent article from CNBC, prescription drugs prices are threatening to put many Americans in the poor house. Have medical bills left you in debt?  AnOak Park bankruptcy attorney can discuss your options with you today.  Contact the Emerson Law Firm to learn more. Prescriptions, Insurance Limitations, and Healthcare Costs How does medical debt affect people on a day-to-day basis?  The story in CNBC focused on a couple, James and Dolores Smith, who take nearly twenty prescription drugs combined.  For the husband and wife, these medications end up costing about $600 total every month.  That’s a cost of more than $7,000 annually.  Even with insurance coverage, the Smiths still have to pay substantial out-of-pocket payments that total approximately $2,000 each…

Can I Discharge Medical Debts in Bankruptcy?

Medical expenses are a leading cause of debt for many Illinois residents, and filing for aChapter 7 bankruptcy orChapter 13 bankruptcy may help with your financial burden.  Even when you have insurance, the out-of-pocket costs can be very high.  With monthly insurance premiums and deductibles, a lot of people wind up with a mountain of medical debt.  Are these medical debts dischargeable in bankruptcy? Consumer bankruptcy often comes with many misconceptions.  However, it’s important to know that it was designed especially for the types of debt that Chicago residents accrue from substantial hospital bills, prescriptions medicine costs, and bills from visits to the doctor’s office.  Bankruptcy law is complicated, and you should always discuss your situation with an experiencedOak Park bankruptcy lawyer.  But we can provide a few key pieces of information that can help you to grasp how your medical debts will be treated in bankruptcy. Classifying Medical Debts as Unsecured Debts Your debt…

Misconceptions About Consumer Bankruptcy in Chicago

When Chicago residents begin to consider the possibility of filing forpersonal bankruptcy, many become hindered by or anxious about some common misconceptions about how bankruptcy works and the ways it will affect them after they have filed.  Whileconsumer bankruptcy isn’t a decision that should be entered into without significant thought,bankruptcy protection can be the best option for many debtors who are experiencing overwhelming financial burdens and emotional or psychological distress over their finances. Bankruptcy law is complicated, but the experiencedOak Park bankruptcy lawyers at the Emerson Law Firm know how to help Chicago area residents when it comes to filing for bankruptcy.  Don’t hesitate to contact our office to learn more about how we can help you today. Frequent Misconceptions About Consumer Bankruptcy While it’s always important to discuss bankruptcy with an experiencedIllinois bankruptcy lawyer, it’s also a good idea to know that bankruptcy may be a good option give…