We buy debt for pennies on the dollar, but instead of collecting it, we abolish it. We cannot buy specific individuals’ debt—instead, we help liberate debtors at random through a campaign of mutual support, good will, and collective refusal.
I take no position on the Occupy Wall Street movement. That being said, I found this project to be interesting and certainly worthy of sharing. Groups like this can really change the paradigm and are offering solid solutions that I can jive with.
We’re beginning this effort with The People’s Bailout, a variety show and telethon in NYC on November 15. All proceeds will go directly to buying people’s debt and cancelling it.