The Rolling Jubilee launched last year with hopes of buying and abolishing medical debt for pennies on the dollar. Born from the Occypy Wall Street movement, the organization generated $600,000 in funding through a telethon and variety show, as well as through donations collected through their web site, rollingjubilee.org.
Debtors whose accounts are purchased and abolished are receiving letters like the one embedded below notifying them that their debt is no more…
The group is holding an event in New York this Friday to continue their mission. More information on the event is available via Facebook. It is slated for The Church of St. Luke and St. Matthew in Brooklyn at 6 PM.
Other events are planned for Austin, Portland, San Francisco and Helena, Montana. Information on all of these events is available on strikedebt.org.
Aside from helping out thousands of debtors, the Rolling Jubilee has widely publicized the predatory workings of the debt-buying marketplace. As a result of our work, many more people now know that collectors have only paid pennies for the debts they harass us for in full. Knowledge like this provides moral ammunition for confronting debt collectors and standing up to lenders. We have shown that lenders are perfectly willing to write your debts off – they’re just not willing to write them off to you… Unless you force them to. We hope that this knowledge inspires debtors everywhere to not just do what the lenders demand of them, but instead to use their leverage to strike a better deal – or simply refuse payment altogether.
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