Yahoo Finance by Aarthi Swaminathan 1/24/2020
A student loan servicer is appealing a bankruptcy judge’s watershed decision to discharge all of a U.S. Navy veteran’s student debt.
Educational Credit Management Corporation (ECMC) — a nonprofit that guarantees and services student loans on behalf of the Department of Education (ED) — is challenging the January 7 decision made by Chief U.S. Bankruptcy Judge Cecelia G. Morris, who discharged $221,385.49 in student loan debt for Navy veteran and lawyer Kevin Rosenberg under chapter 7 bankruptcy.
‘Very few student loan cases get appealed’In the latest filing, ECMC elected to “have the appeal heard by the United States District Court rather than by the Bankruptcy Appellate Panel.“
Rosenberg told Yahoo Finance that “the appeals process is beyond my level of knowledge and experience, so I’m reaching out to advocacy groups and attorneys in hopes of finding pro bono representation.â€
He added: “The case is likely to go the Supreme Court so whomever represents me in the case will truly make a name for themselves. So, on one hand, I wish this was over already. And on the other, I’m excited about what this means for those still suffering under the weight of an unjust system.â€
More:
https://finance.yahoo.com/news/student-loans-bankruptcy-ruling-131844930.html