Activism Economics

Occupy Wall Street buys 5 million worth of medical debt for 00,000 – then forgives the debt and writes it off.

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> A group of Occupy Wall Street activists has bought almost 5m of Americans’ personal debt over the last year as part of the Rolling Jubilee project to help people pay off their outstanding credit.

>Rolling Jubilee, set up by Occupy’s Strike Debt group following the street protests that swept the world in 2011, launched on 15 November 2012. The group purchases personal debt cheaply from banks before “abolishing” it, freeing individuals from their bills.

> By purchasing the debt at knockdown prices the group has managed to free 4,734,569.87 of personal debt, mainly medical debt, spending only 00,000.

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“Occupy Wall Street buys 5 million worth of medical debt for 00,000 – then forgives the debt and writes it off.”