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Fri Dec 21, 2012, 12:57 PM

The Village Voice: The Rolling Jubilee Mails its First Debt Forgiveness Letters

The Rolling Jubilee Mails its First Debt Forgiveness Letters
By Nick Pinto Mon., Dec. 17 2012 at 1:14 PM

When the debt activism group Strike Debt began planning its Rolling Jubilee, the goal was relatively modest: They would raise $50,000, use it to buy distressed medical debt on secondary debt markets, and then, rather than hounding the debtors like the collection agencies that buy most of this sort of debt, they would wipe it out.
But that was before the Rolling Jubilee caught fire in the public imagination, garnering attention from the likes of Boing Boing, the New York Times, and Fortune Magazine. Even before the group had webcast its star-studded telethon, it had already surpassed its fundraising goal. To date, they've raised nearly half a million dollars -- enough to buy and forgive nearly $10 million of debt.

Most of that money is going to go to purchasing a big hunk of distressed medical debt next month, but as a sort of proof-of-concept, Strike Debt has already spent $5,000 to buy $100,000 of distressed medical debt owed by 44 people in upstate New York.

Yesterday, the activists gathered to send out the notifications to the unsuspecting recipients of this first round of debt forgiveness. Since aggressive collection mailings often drive debtors to ignore envelopes they don't recognize, the forgiveness letters are packaged in a small box wrapped in festive paper.

<more: http://blogs.villagevoice.com/runninscared/2012/12/the_rolling_jub.php>

11 replies, 3900 views

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Reply The Village Voice: The Rolling Jubilee Mails its First Debt Forgiveness Letters (Original post)
tex-wyo-dem Dec 2012 OP
Kip Humphrey Dec 2012 #1
tex-wyo-dem Dec 2012 #2
antiquie Dec 2012 #3
pinboy3niner Dec 2012 #7
FiveGoodMen Dec 2012 #4
Joe Bacon Dec 2012 #5
TahitiNut Dec 2012 #6
beac Dec 2012 #8
AllyCat Dec 2012 #9
Overseas Dec 2012 #10
lonestarnot Dec 2012 #11

Response to tex-wyo-dem (Original post)

Fri Dec 21, 2012, 01:00 PM

1. I'm proud to be a contributer... Makes a GREAT Christmas gift too!!!

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Response to Kip Humphrey (Reply #1)

Fri Dec 21, 2012, 01:05 PM

2. Excellent idea! :) n/t

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Response to Kip Humphrey (Reply #1)

Fri Dec 21, 2012, 01:36 PM

3. Thank you.

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Response to Kip Humphrey (Reply #1)

Sun Dec 23, 2012, 04:22 PM

7. Same here. It's easy to contribute, and every little bit helps.

"For every $1 donated, we are able to buy and abolish $20 worth of debt."

http://rollingjubilee.org/

Scroll down to contribute.




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Response to tex-wyo-dem (Original post)

Fri Dec 21, 2012, 06:37 PM

4. Got to be the best news item in years!

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Response to tex-wyo-dem (Original post)

Sat Dec 22, 2012, 01:33 AM

5. Can't praise them enough!

Nice to see them turn the tables on the parasite debt collectors!

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Response to tex-wyo-dem (Original post)

Sun Dec 23, 2012, 03:05 PM

6. It brings a whole new dimension to "random acts of kindness."

When it sometimes feels bleak in a world so full of suffering and acts of greed and exploitation, this single group effort brings tears to my eyes. Readng "small box wrapped in festive paper" makes those tears flow even more freely. Such compassion (for 'strangers'!!) is becoming more rare even as it becomes more necessary.

I sent in a few dollars, which I can only 'afford' with difficulty, and I'm amazed at how wealthy it made me feel.

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Response to tex-wyo-dem (Original post)

Mon Dec 24, 2012, 08:09 PM

8. K&R for a terrific program! n/t

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Response to tex-wyo-dem (Original post)

Tue Dec 25, 2012, 03:44 AM

9. Love sending these folks a few bucks when I have it.

Anything that helps brighten someone's day. Anyone can incur medical debt no matter how "responsible" they are. Insurance doesn't cover everything and often works against the premium-payer/insured to cover NOTHING once the insured is sick.

Go for it.

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Response to tex-wyo-dem (Original post)

Wed Dec 26, 2012, 10:47 AM

10. K&R. Glad to hear it.

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Response to tex-wyo-dem (Original post)

Sat Dec 29, 2012, 08:29 AM

11. Most supremely excellent!

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