Home > #OWS, finance > Free people from their debt: Rolling Jubilee (#OWS)

Free people from their debt: Rolling Jubilee (#OWS)

November 11, 2012

Do you remember the group Strike Debt? It’s an offshoot of Occupy Wall Street which came out with the Debt Resistors Operation Manual on the one-year anniversary of Occupy; I blogged about this here, very cool and inspiring.

Well, Strike Debt has come up with another awesome idea; they are fundraising $50,000 (to start with) by holding a concert called the People’s Bailout this coming Thursday, featuring Jeff Mangum of Neutral Milk Hotel, possibly my favorite band besides Bright Eyes.

Actually that’s just the beginning, a kick-off to the larger fundraising campaign called the Rolling Jubilee.

The main idea is this: once they have money, they buy people’s debts with it, much like debt collectors buy debt. It’s mostly pennies-on-the-dollar debt, because it’s late and there is only a smallish chance that, through harassment legal and illegal, they will coax the debtor or their family members to pay.

But instead of harassing people over the phone, the Strike Debt group is simply going to throw away the debt. They might even call people up to tell them they are officially absolved from their debt, but my guess is nobody will answer the phone, from previous negative conditioning.

Get tickets to the concert here, and if you can’t make it, send donations to free someone from their debt here.

In the meantime enjoy some NMH:

Categories: #OWS, finance
  1. November 11, 2012 at 2:54 pm

    As opposed to the #VultureCapital techniques so fully documented by Greg Palast, this project does something humanely positive, not inhumanely exploitive, in dealing with distressed debt. Kudos to everyone involved!

  2. November 11, 2012 at 5:08 pm

    Love it! The gov does it for banks, so why can’t we do it for our fellow “we the people”?

    • November 13, 2012 at 7:50 pm

      Thanks! That clears up the tax issues people were worried about :)

  3. Barbara Schroeder
    November 15, 2012 at 9:04 am

    How about closed captioning for the NMH song? Thanks!

  1. November 12, 2012 at 8:42 am
  2. August 20, 2013 at 7:04 am
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