Feds Fight To Make Bankrupt Man, Unemployed For A Dozen Years, Pay Back Student Loans
James Murphy, 65, can’t pay his student loans. He owes more than $200,000 in federal loans that he took out to pay for college for his three children. After a dozen years of unemployment, Murphy is asking a bankruptcy court to free him from the six-figure obligation to the Department of Education (ED).
If only it were that simple. Murphy’s fight, which is already three years old, puts him at odds with a Congressionally-created private company called ECMC that works to collect student loan debts on behalf of the ED. ECMC says that Murphy’s circumstances, while dire, do not qualify him Read More