void-liminality:

pearwaldorf:

maxistentialist:

howtosharpenpencils:

This is a long post but it’s about something pretty interesting so I hope you’ll indulge …

Like many folks, Occupy Wall Street has been some doing good work in the aftermath of Hurricane Sandy, helping people on the ground.

Now OWS is launching the ROLLING JUBILEE, a program that has been in development for months. OWS is going to start buying distressed debt (medical bills, student loans, etc.) in order to forgive it. As a test run, we spent $500, which bought $14,000 of distressed debt. We then ERASED THAT DEBT. (If you’re a debt broker, once you own someone’s debt you can do whatever you want with it — traditionally, you hound debtors to their grave trying to collect. We’re playing a different game. A MORE AWESOME GAME.)

This is a simple, powerful way to help folks in need — to free them from heavy debt loads so they can focus on being productive, happy and healthy. As you can see from our test run, the return on investment approaches 30:1. That’s a crazy bargain!

Now, after many consultations with attorneys, the IRS, and our moles in the debt-brokerage world, we are ready to take the Rolling Jubilee program LIVE and NATIONWIDE, buying debt in communities that have been struggling during the recession.

This is an amazing program. You’ll be able to donate soon at RollingJubilee.org.

This is pretty fucking cool! You should give them some money because I have none, it all being tied up in debt repayment. :/

Fascinating.

What I want is a way to nominate people to have their debt bought and erased.

(via willnobilis)

Source: howtosharpenpencils
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  13. vivacity reblogged this from howtosharpenpencils and added:
    truthfully one of the most...have ever heard about. Average
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  15. iatrogenic reblogged this from nehirose and added:
    Me too because I would completely nominate my parents, whose house got wrecked by Sandy while they are dealing with huge...
  16. nehirose reblogged this from willnobilis and added:
    What I want is a way to nominate people to have their debt bought and erased.
  17. willnobilis reblogged this from pearwaldorf and added:
    Fascinating.
  18. fugazihugs reblogged this from howtosharpenpencils and added:
    Every time I think...just think, “Everyone needs...this.” To...
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  21. stokerbramwell reblogged this from wilwheaton and added:
    Show this to the next person who tells you that Occupy Wall Street hasn’t accomplished anything.
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