Los Angeles:`Grey`s Anatomy` actress Ellen Pompeo is set to develop a new ABC Family series based on the novel Debt.
The 44-year-old actress will serve as the executive producer for `Debt`, based on Rachel Carey`s 2013 novel of the same name, suggest reports.
Debt tells the story of a 20-something writer who works as a tutor to pay off her college loans and uncovers how all of the people she knows are in someone`s debt.
It is described as a satirical look at the 2008 New York financial meltdown. In 2011, Pompeo launched her production company Calamity Jane.
Back in May, Pompeo and fellow `Grey`s Anatomy` stars Patrick Dempsey, Justin Chambers, Sara Ramirez, Chandra Wilson and James Pickens Jr signed on for two more seasons of the medical drama.
`Grey`s Anatomy` creator Shonda Rhimes later revealed that she has no plans to end the long-running series yet.