General Discussion

DaveJ

(5,023 posts)

69. That's not really true, imo

Mon Nov 12, 2012, 03:10 PM

Nov 2012

(the part about helping agencies, I mean)

The Rolling Jubilee, if it were commonplace, would result in less employment in collections. The faster debt collection companies get their money, the fewer people they need to employ. So yeah the big wig in charge is a winner. And yeah, they should not be profiting on people's misfortune; but overall, everyone in that field is bad, so the fewer there are the better. The next step is for debt collection agencies to be run by nonprofits.

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71 replies

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Highlight:

Why Occupy's Plan To Cancel Consumer Debts Is Brilliant [View all] xchrom Nov 2012 OP

I love it. I hope it brings some much needed attention Live and Learn Nov 2012 #1

It will certainly help the people whose debts are forgiven SickOfTheOnePct Nov 2012 #3

And perhaps we will stop being ruled by credit ratings. djean111 Nov 2012 #6

I guess we'll disagree on that point SickOfTheOnePct Nov 2012 #8

May be overused? I think that is quite an understatement. Live and Learn Nov 2012 #12

There are certain jobs where a credit rating should be considered SickOfTheOnePct Nov 2012 #14

I fail to see the logic with insurance rates at all. Live and Learn Nov 2012 #16

Credit ratings can be unfairly prejudicial wickerwoman Nov 2012 #65

Hope it works liberal N proud Nov 2012 #2

Of course they will squash it. closeupready Nov 2012 #27

the good thing people are missing here litlbilly Nov 2012 #54

Kinda blows a gaping hole in.... 99Forever Nov 2012 #4

... xchrom Nov 2012 #5

Never understood the disdain some here have for Occupy. Live and Learn Nov 2012 #7

Their "disdain"... 99Forever Nov 2012 #9

It's mostly been the OWS adherents who claim that nothing has changed. randome Nov 2012 #15

You don't see this as having much to do with Wall Street? Live and Learn Nov 2012 #17

Because it concerns money? I guess they do have that in common. randome Nov 2012 #20

No. because credit ratings have become vital to Live and Learn Nov 2012 #21

I hear you but what they're doing to buy debts apparently doesn't change the bad credit ratings. randome Nov 2012 #22

It is a start to the conversation. Live and Learn Nov 2012 #23

I can get behind that. randome Nov 2012 #24

Thank you Captain Obvious. 99Forever Nov 2012 #26

And this is why OWS gets so little traction. randome Nov 2012 #28

OWS is made up of all kinds. As is DU. nt Live and Learn Nov 2012 #33

Very true. I should keep that in mind more often. randome Nov 2012 #36

Yeah... sure... 99Forever Nov 2012 #37

They're not occupying much? Hissyspit Nov 2012 #44

This rolling jubilee tama Nov 2012 #48

Of which we have many Le Taz Hot Nov 2012 #19

No doubt. blackspade Nov 2012 #46

Ked and Red...... marmar Nov 2012 #10

... xchrom Nov 2012 #11

At least one was on duty, attempting to smear "OWSies". WorseBeforeBetter Nov 2012 #34

Because I didn't think OWS would last longer that the first weekend... aikoaiko Nov 2012 #13

Is it Occupy's plan? Or is it someone's plan? Who is it? Who is Occupy? Coyotl Nov 2012 #18

Oh bother. It's not the DNC, it's not the GOP, it's not the SEIU, it's people. Live and Learn Nov 2012 #25

The URL you send money to is registered to one person only. Coyotl Nov 2012 #56

Agree you have to be careful about who you are sending money to. Live and Learn Nov 2012 #58

These ideas come out of David Graeber's "Debt: The First 5,000 Years" starroute Nov 2012 #29

If there are no repercussions for debt, then no one will honor it. randome Nov 2012 #30

huh? what's happening now? xchrom Nov 2012 #32

'Debt' has been a part of Western civilization for hundreds if not thousands of years. randome Nov 2012 #35

Exactly. Going in to debt was actively encouraged by the financiers, businesses and the msm. Live and Learn Nov 2012 #38

"refusing to pay for it" Hissyspit Nov 2012 #45

Of course it isn't. I'm suggesting that OWS doesn't know who are deserving and who are deadbeats. randome Nov 2012 #55

How do you know this? How hard is it to evaluate? vanlassie Nov 2012 #60

I don't know. randome Nov 2012 #62

Social capital and financial capital tama Nov 2012 #51

Thanks for the information. Going to have to look that book up. nt Live and Learn Nov 2012 #39

Sounds very interesting and is available on Kindle. Live and Learn Nov 2012 #40

Well said. blackspade Nov 2012 #49

Kudos! WaitWut Nov 2012 #31

So many people have been hit by identity theft scams and the Live and Learn Nov 2012 #41

I thought the stimulus might have worked better 4th law of robotics Nov 2012 #42

To all those concerned about credit ratings... caraher Nov 2012 #43

I donated to OWS when they first started protesting .... Howler Nov 2012 #47

Nice work. Fear should not be a part of life. DaveJ Nov 2012 #50

this works because the debt is worthless MsUnderstood Nov 2012 #52

Furthermore, Collectors seem to expect the entire payoff, not payments. DaveJ Nov 2012 #61

I donated $100 CaptJasHook Nov 2012 #53

Here's an idea: Excepting houses, pay cash. If you cannot afford something, go without it. savannah43 Nov 2012 #57

I prefer to live this way. However, it will hurt you in many ways. Live and Learn Nov 2012 #59

could the 'Rolling Jubilee' be considered a charity for tax purposes? BlueMan Votes Nov 2012 #63

I didn't know people were so stupid that they needed to be told that. DaveJ Nov 2012 #64

It's like a Christmas Gift for the collection agencies. It will qualify thousands of our neighbors jtuck004 Nov 2012 #66

Rolling Jubilee is focusing on -- Hell Hath No Fury Nov 2012 #67

They are focusing on UNCOLLECTABLE DEBT. That is sitting in a box at a collection agency marked jtuck004 Nov 2012 #68

That's not really true, imo DaveJ Nov 2012 #69

That would be true if time stopped when they started. But student loan default is rising to unseen l jtuck004 Nov 2012 #71

ttt Blue_Tires Nov 2012 #70