Occupy Wall St protesters wipe $5m off America's debt
A group of campaigners linked to the Occupy Wall Street movement has raised enough cash to write-off $5m in "distressed" student loans and outstanding medical bills
The campaigners founded the Rolling Jubilee project to buy-up distressed loans, where repayments are in arrears, for pennies in the pound and then cancel them free of charge to "liberate debtors at random". That debt will include large amounts of student loans and oustanding medical bills owed by people struggling to meet repayments.
Individuals or companies can buy debt from lenders at knock-down prices if it the borrower is in default or behind with payments and are then free to do with it as they see fit, including cancelling it free of charge.
Campaigners estimate that 77pc of American households are in debt and that 62pc of all bankrupcies in the country are caused by large medical bills, which can be virtually impossible to pay for those without insurance. An estimated one in seven people in the US is currently being pursued by a debt collector.
As a test run the group spent $500 on distressed debt, buying $14,000 worth of outstanding loans and pardoning the debtors. They also consulted lawyers on the legality of doing this on a large scale.
Yesterday they launched a fundraising campaign with a variety show and telethon in New York and have already raised $269,913 (£170,206) - enough to buy over $5m worth of debt and write it off.
Comment
"Destroying the New World Order"
THANK YOU FOR SUPPORTING THE SITE!
Latest Activity
- Top News
- Everything
Sydney Sweeney Has Great Jeans - Outrage AI Parody Song
"Props to Schottenstein on his foray out of the woods that was DEI and wokeness. "
"One of the theories floating around was Hilary Clinton's brother Hugh, was the one…"
Sick sci-fi sex fantasy written by Epstein's first benefactor people say inspired his twisted island... before author's SON ended up arresting him
By JAMES REINL, US SENIOR REPORTER Published: 08:45 EDT, 3 August 2025 | Updated: 10:41 EDT, 3…See More
EPSTEIN MAXWELL HIDDEN DOCUMENTARY
Real Time Intel Exclusively On Telegram t.me/brainwashed444
Sydney Sweeney Has Great Jeans - Outrage AI Parody Song
AI Parody Music Video poking fun at the online hysteria surrounding Sydney Sweeney's American Eagle jeans campaign.✅ Blue jeans✅ Blonde panic✅ DEI gone wild✅...
How "Free" P*rn Sites Really Work (and Who Runs Them)
Excerpt from This Past Weekend w/ Theo Von #559 Laila MickelwaitFull Episode: https://youtu.be/9J7187j4PO4?si=2GUNymssKJpe6nEvFind Theo Von:Website: https://...
Charles Manson Talks About The Global Elite
"I've had my account with YouTube terminated before over bullshit excuses because they…"
Charles Manson Talks About The Global Elite
"Remember, though he makes his points, this man used the Beatles White Album as his own manifesto of…"
Strange Videos That Expose Something Massive
#disturbing #video #strange #scary #scaryvideos #strangevideos This is a compilation of the most disturbing videos on the internet, not only...
© 2025 Created by truth.
Powered by
You need to be a member of 12160 Social Network to add comments!
Join 12160 Social Network