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djean111

(14,255 posts)
6. Oh, that is AWESOME!!!!!!
Fri Nov 9, 2012, 11:32 AM
Nov 2012

And ramifications - maybe debt collectors go out of business?
But then maybe it will be more expensive to buy debt?
But this is a wonderful idea, and yes, outside the box.
I have been hearing about calls for a Jubilee for years and years, but this is the first concrete and doable thing I have seen to actually do it.
Just think how much debt could have been erased with the money spent on the election.

I love it. Helps those in need and strips some of the power away from Live and Learn Nov 2012 #1
Thinking outside of the box like this Generic Other Nov 2012 #2
Where da recs? Leopolds Ghost Nov 2012 #3
Du rec. Nt xchrom Nov 2012 #4
Occupy is amazing! Cracklin Charlie Nov 2012 #5
Oh, that is AWESOME!!!!!! djean111 Nov 2012 #6
Way cool. 99Forever Nov 2012 #7
This needs to spread like Le Taz Hot Nov 2012 #8
K&R This is a model for success. Hopefully it will catch on and rich people will start funding it. Egalitarian Thug Nov 2012 #9
K&R Support OWS. woo me with science Nov 2012 #10
This sounds useful. randome Nov 2012 #11
Sort of like KIVA dixiegrrrrl Nov 2012 #83
HUGE. Kick!! navarth Nov 2012 #12
This will put the debt-collection thugs out of business - best idea ever. reformist2 Nov 2012 #13
rec! SammyWinstonJack Nov 2012 #14
I they forgive the debt, do the debtors have to pay income tax on the amount forgiven? djean111 Nov 2012 #15
"Canceled Debt – Is It Taxable or Not?" PoliticAverse Nov 2012 #25
Then don't cancel the debt. Sophiegirl Nov 2012 #42
Sounds like a good idea if possible. randome Nov 2012 #46
I think it'd have to be $1.00 at a minimum. TahitiNut Nov 2012 #106
We could revive Doc Holliday Nov 2012 #156
Quitclams and releases still employ that language, as far as I know. TahitiNut Nov 2012 #158
If they are smart, they would not do it AlexSatan Nov 2012 #159
It might be able to be structured as a gift. Ms. Toad Nov 2012 #48
<$10,000/year joeunderdog Nov 2012 #139
Please pass this on to: tavalon Nov 2012 #146
I really wish I could afford, well maybe DiverDave Nov 2012 #152
It isn't accurate information Ms. Toad Nov 2012 #163
It's not quite that simple Ms. Toad Nov 2012 #162
Canceled Debts.... for any of the following exceptions or exclusions are not taxable" dixiegrrrrl Nov 2012 #71
Wow. This is one of the best grassroots ideas I've heard in a very long time. distantearlywarning Nov 2012 #16
I would too, onethatcares Nov 2012 #18
http://rollingjubilee.org/ tavalon Nov 2012 #147
K&R. Publsihed to my Facebook network this a.m. One question: who decides coalition_unwilling Nov 2012 #17
excellent... handmade34 Nov 2012 #19
Good to see they're finally doing something worthwhile... SidDithers Nov 2012 #20
You might want to check out the amazing work they are doing -- Hell Hath No Fury Nov 2012 #55
+1! dchill Nov 2012 #65
Yep. Once again, the MSM lies spread far and wide to discredit progressives. Dark n Stormy Knight Nov 2012 #94
Don't mind Sid. Scootaloo Nov 2012 #143
. Luminous Animal Nov 2012 #109
Damn do-gooder liberals. UnrepentantLiberal Nov 2012 #128
Yo, Sid, tavalon Nov 2012 #148
K&R nt TBF Nov 2012 #21
That's an amazing idea. groundloop Nov 2012 #22
bump. silvershadow Nov 2012 #23
Donation link found! AllyCat Nov 2012 #24
by that calc, I just forgave $10,000 in debt! WHOOPEEE!!! Kip Humphrey Nov 2012 #53
Yeah! Wish I had that much to give, but think I'll AllyCat Nov 2012 #72
THANKS for finding/posting the link! dangerdoll Nov 2012 #63
! AllyCat Nov 2012 #73
Bookmarked Kaleva Nov 2012 #77
Kick! Thanks for posting this, AllyCat! calimary Nov 2012 #98
DAMN! That felt GOOD!! TahitiNut Nov 2012 #107
Excellent! Though I do wonder... Bibliovore Nov 2012 #130
This is a wonderful idea... one_voice Nov 2012 #133
Thanks! I love this idea! myrna minx Nov 2012 #155
The people of OWS are AWESOME! They are tenacious, caring, determined, smart and love this country judesedit Nov 2012 #26
Wow - that's perfect. Lucy Goosey Nov 2012 #27
Whoohoo! K&R! Fire Walk With Me Nov 2012 #28
OWS SamKnause Nov 2012 #29
Sounds good ... 1StrongBlackMan Nov 2012 #30
You can buy debt sometimes pennies on the dollar...... AnneD Nov 2012 #31
donation link above and at second OP embedded link. AllyCat Nov 2012 #33
I was just looking at it..... AnneD Nov 2012 #36
Oh, I didn't know about People's Bank. Not sure I have that kind of cash, but AllyCat Nov 2012 #37
"The People's bank"---Are you talking about the Lending Club? dixiegrrrrl Nov 2012 #84
And with this single action Downtown Hound Nov 2012 #32
Great heavenly days. What a tremendous idea!! efhmc Nov 2012 #34
This is incredible! liberalmuse Nov 2012 #35
Robin hood! how beautifully genius! robinlynne Nov 2012 #38
This is another earthshatteringly brilliant idea by OWS. K&R stevenleser Nov 2012 #39
It's neither 'earthshattering' nor 'brilliant'. It is, however, a 'great' idea. randome Nov 2012 #86
Your concern over my degree of enthusiasm is noted. stevenleser Nov 2012 #108
It is BOTH earthshattering & brilliant! LeftofObama Nov 2012 #117
It IS a fantastic idea, and I am very excited about it. stevenleser Nov 2012 #161
Hypberbole does not help dismiss the organizations you have always wanted to dismiss. sabrina 1 Nov 2012 #127
interesting heaven05 Nov 2012 #40
HUGE K & R !!! WillyT Nov 2012 #41
I have $500 Sophiegirl Nov 2012 #43
What a clever, incredible idea! Barack_America Nov 2012 #44
Love love love OWS, they are da bomb!! lark Nov 2012 #45
I think that's great. Possibly the most constructive thing I've heard from OWS. nt msanthrope Nov 2012 #47
They should do a big holiday push. Barack_America Nov 2012 #49
kick and rec! lunatica Nov 2012 #50
K&R Magoo48 Nov 2012 #51
So what would happen if a person bought their own debt for pennies on the dollar??? ret5hd Nov 2012 #52
This.... Buddyblazon Nov 2012 #54
You'll have to default on them (and trash your credit) first. Barack_America Nov 2012 #74
I paid off my student loan for 10 cents on the dollar. dixiegrrrrl Nov 2012 #85
Don't forget the system is rigged for the other side! airplaneman Nov 2012 #67
actual solutions to real problems... lame54 Nov 2012 #56
kick BillyJack Nov 2012 #57
Bravo! n/t ohheckyeah Nov 2012 #58
I don't get it demhottie Nov 2012 #59
Debt can be sold again and again -- Hell Hath No Fury Nov 2012 #60
Exactly - the benefit is you are no longer afraid to answer the phone. jwirr Nov 2012 #80
I can't even imagine... OneGrassRoot Nov 2012 #100
People will be able to move on with their lives. It's a big deal. reformist2 Nov 2012 #66
Don't forget robbob Nov 2012 #81
Good questions. Thanks. randome Nov 2012 #82
Well, honestly, what you are apparently missing here is an understanding of Zorra Nov 2012 #115
Zorra, you nailed it - it's truly a soul-sucking experience to be mired in debt. groundloop Nov 2012 #119
But will they know? druidity33 Nov 2012 #124
the original creditor may have written off the debt dlwickham Nov 2012 #134
Now that's productive activism--very well done. nt MADem Nov 2012 #61
Sort of like the non-government version adieu Nov 2012 #62
wow this is reverse capitalism ! airplaneman Nov 2012 #64
Now, THIS is a Revolutionary Idea! yellerpup Nov 2012 #68
We're trying. Thanks bigtree. mmonk Nov 2012 #69
Rec'd! A very interesting idea. Kaleva Nov 2012 #70
OWS changed everything and keeps on truckin!!! EarthGurl2012 Nov 2012 #75
This is the best stimulus package I have seen in this whole mess. I am one of those distressed jwirr Nov 2012 #76
This is BRILLIANT! JNelson6563 Nov 2012 #78
My world would change if they bought my student loan off.... glinda Nov 2012 #79
Me too- solara Nov 2012 #120
excused debt dexter76 Nov 2012 #87
Did you voluntarily create medical debt? Are you going to create more? uppityperson Nov 2012 #88
excused debt dexter76 Nov 2012 #91
I think you missed the part about student loan debt and NOT FINDING A JOB! AllyCat Nov 2012 #122
Stuff happens footinmouth Nov 2012 #89
excused debt dexter76 Nov 2012 #92
No one here but us takers. myrna minx Nov 2012 #97
perhaps we could proclaim azurnoir Nov 2012 #103
The only ones in our society getting a free ride Tsiyu Nov 2012 #112
Welcome to DU!!! tomm2thumbs Nov 2012 #114
By the time your debt gets cheap, you've already been screwed to the equator and back n/t Mopar151 Nov 2012 #144
"Posting privileges revoked" TahitiNut Nov 2012 #110
Force multipliers mick063 Nov 2012 #90
Off Topic eridani Nov 2012 #105
The only one avaiable from DU mick063 Nov 2012 #118
So what's to stop me from setting up a shell corporation, racking up a bunch of personal debt ChillZilla Nov 2012 #93
No it is not that simple. djean111 Nov 2012 #102
K&R TheUnspeakable Nov 2012 #95
Cool. This is great for collection agencies, brings them some revenue they might not jtuck004 Nov 2012 #96
They don't pay off debt by choosing individuals. djean111 Nov 2012 #99
If we just step back and look at this as helping the country full of citizens, djean111 Nov 2012 #101
Wow, this is a FANTASTIC idea. Doremus Nov 2012 #104
woot. yes we can. limpyhobbler Nov 2012 #111
Wow, that's an amazing trick. Beat them at their own game. I like it!! johnnyrocket Nov 2012 #113
there are no words of love from me for them that are big enough roguevalley Nov 2012 #116
OWS I Love YOUS! undergroundpanther Nov 2012 #121
This is very cool ... aggiesal Nov 2012 #123
THAT! IS BRILLIANT Matariki Nov 2012 #125
This is almost to good to be true. Auntie Bush Nov 2012 #126
Very big. Go OWS Politicub Nov 2012 #129
Now that is just fucking awesome! lonestarnot Nov 2012 #131
What a great cause! silverweb Nov 2012 #132
This just gave me an AWESOME idea JonathanBrowne Nov 2012 #135
The haggle-I think you have a really great idea... DianaForRussFeingold Nov 2012 #142
If you do it like that they are "settling" for a lesser amount djean111 Nov 2012 #164
Excellent! GrannyK Nov 2012 #136
What a great idea! Change has come Nov 2012 #137
huh. I had an outstanding debt disappear from my credit report last week... bunnies Nov 2012 #138
Sometimes it depends upon the State Laws and how long the debt has been or glinda Nov 2012 #140
This is amazing and it gives me hope Tree-Hugger Nov 2012 #141
What a difficult situation. Barack_America Nov 2012 #157
The direct website to help OWS with this worthy, worthy, worthy, cause is: tavalon Nov 2012 #145
K&R nt ProudProgressiveNow Nov 2012 #149
Please buy mine...It'll be cheap lol DiverDave Nov 2012 #150
Now that's something Bill Gates can do with his foundation. lalalu Nov 2012 #151
Excellent idea. malthaussen Nov 2012 #153
The best news I have heard in a long time - maybe ever! n/t AnnieK401 Nov 2012 #154
Kick woo me with science Nov 2012 #160
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