Rolling Jubilee. “Rolling Jubilee is a Strike Debt project that buys debt for pennies on the dollar, but instead of collecting it, abolishes it. Together we can liberate debtors at random through a campaign of mutual support, goodwill, and collective refusal.” Learn more at the Rolling Jubilee site.
Rolling Jubilee
By Brent Logan
Engineer. Lawyer. WordPress geek. Longboarder. Blood donor. Photographer. More about Brent.
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I like this idea very much … creative, yet very much not an original idea, just a forgotten one (if measured by practice). It seem crazy if it is true that the bad debts are sold at 5 cents on the dollar, as implied by the verbiage on this site.
Yeah, I share your unbelief. If debts are truly sold for such a discount, it almost seems criminal that the purchasers continue to attempt to collect the whole amount.