Occupy Wall Street buys $14.7 million of Americans' debt

[unhappycamper]

http://news.msn.com/us/occupy-wall-street-buys-dollar147-million-of-americans-debt

The Rolling Jubilee project has so far spent $400,000 to buy the debt, in the process relieving 2,693 people of the money they owed for medical services Occupy thinks should be free.

Occupy Wall Street buys $14.7 million of Americans' debt
13 hr ago
By Elizabeth Dilts of Reuters

An Occupy Wall Street spin-off group has bought up $14.7 million worth of Americans' personal medical debt and forgiven it over the last year as part of its Rolling Jubilee project, the group announced Monday.

The Rolling Jubilee project, organized by Occupy Wall Street's Strike Debt group, has so far spent $400,000 to buy the debt, in the process relieving 2,693 people of the money they owed for medical services Occupy thinks should be free.

"Think of it as a bailout of the 99 percent by the 99 percent," a post on the Rolling Jubilee project's website said.

The project, which launched on November 15, 2012, raises money through small, individual contributions, and then uses that money to purchase distressed and defaulted debt from the lenders, who in this case are hospitals or medical groups.

[SummerSnow]

1. very interesting