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Mon Nov 12, 2012, 04:06 PM

Question 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!

9 replies, 804 views

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Arrow 9 replies Author Time Post
Reply Question about Rolling Jubilee (Original post)
Vox Moi Nov 2012 OP
Fire Walk With Me Nov 2012 #1
Scuba Nov 2012 #2
Hell Hath No Fury Nov 2012 #3
IDoMath Nov 2012 #7
Fire Walk With Me Nov 2012 #4
KamaAina Nov 2012 #5
Fire Walk With Me Nov 2012 #6
IDoMath Nov 2012 #8
reelfish2 Dec 2012 #9

Response to Vox Moi (Original post)

Mon Nov 12, 2012, 04:46 PM

1. I believe they are targeting medical debt but I doubt that's the exclusive goal.

 

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."

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Response to Vox Moi (Original post)

Mon Nov 12, 2012, 06:05 PM

2. How about the feds buy some of this debt and then forgive it?

Seems like a good way to stimulate the economy.

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Response to Vox Moi (Original post)

Mon Nov 12, 2012, 06:30 PM

3. From what I have been reading --

they are currently targeting medical and student loan debt. I would suppose that would be expanded should the program be a huge success.

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Response to Hell Hath No Fury (Reply #3)

Fri Nov 16, 2012, 10:29 AM

7. NOT Student Loan Debt

 

There is no secondary market for student loan debt so they can't buy it.

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Response to Vox Moi (Original post)

Tue Nov 13, 2012, 06:35 PM

4. They've just posted two information links:

 

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

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Response to Vox Moi (Original post)

Tue Nov 13, 2012, 06:37 PM

5. We need a similar program to buy up foreclosures

and house people in them. Remember, many of the original Occupiers were/are homeless.

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Response to Vox Moi (Original post)

Wed Nov 14, 2012, 05:45 PM

6. DebtStrike will be hosting an "Ask me anything" session tonight on Reddit.

 

StrikeDebt ‏@StrikeDebt

Want to ask us... anything? Join us for an "ask me anything" session on @reddit, tonight at 8PM EST!
http://www.reddit.com/r/IAmA/

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Response to Vox Moi (Original post)

Fri Nov 16, 2012, 10:31 AM

8. Targeting is fairly random

 

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.

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Response to Vox Moi (Original post)

Fri Dec 21, 2012, 10:37 AM

9. Rolling ......Rolling

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

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