General Discussion
Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsQuestion about Rolling Jubilee
On the surface this is a wonderful idea.
I want to know more about how specifically they can target what debt is purchased.
For example, can debt packages be restricted to student loans or distressed mortgages for homeowners?
I haven't found detailed information on this yet ... anyone out there have a reference?
Thanks!
Fire Walk With Me
(38,893 posts)StrikeDebt @StrikeDebt
$85K in donations so far, meaning we can abolish over $1.7M in personal medical debts! #RollingJubilee #PeoplesBailout
http://ow.ly/fdZhz
https://twitter.com/StrikeDebt
Occupy Wall Street Activists Buy up Debt to Abolish It
http://www.thenation.com/blog/171190/occupy-wall-street-activists-buy-debt-abolish-it#
http://www.rollingjubilee.org
http://www.strikedebt.org
"We need a jubilee, a clean slate, a cancellation of debt for the 99%.
The Rolling Jubilee raises money to buy debt. But instead of collecting on the debt we buy, we're going to abolish it. It's time for a bailout of the people, by the people."
Scuba
(53,475 posts)Seems like a good way to stimulate the economy.
Hell Hath No Fury
(16,327 posts)they are currently targeting medical and student loan debt. I would suppose that would be expanded should the program be a huge success.
IDoMath
(404 posts)There is no secondary market for student loan debt so they can't buy it.
Fire Walk With Me
(38,893 posts)StrikeDebt @StrikeDebt
Questions about #RollingJubilee? We have answers!
http://rollingjubilee.org/#faq
StrikeDebt @StrikeDebt
Be sure to check out our further reading to learn more about the debt market:
http://rollingjubilee.org/#resources
#RollingJubilee
KamaAina
(78,249 posts)and house people in them. Remember, many of the original Occupiers were/are homeless.
Fire Walk With Me
(38,893 posts)StrikeDebt @StrikeDebt
Want to ask us... anything? Join us for an "ask me anything" session on @reddit, tonight at 8PM EST!
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IDoMath
(404 posts)What they are doing is buying "bad debts" which means they are buying up accounts that have already been marked as past due. They have no way to target specific individuals. However, they can target certain kinds of debt like medical bills. They CAN'T target student loan debt because student loans are guaranteed and thus, never go on sale.
reelfish2
(1 post)So how about showing your financial data? How much do the people that run this organization take home for pay?
Like any good organization, please prove to us who want to join in and support you, where the money is going and what percentage goes into running this biz.
I look forward to seeing your post with a link to this information.
Have a Merry Christmas!
R-F