Are you in debt? Do you use a credit card to pay basic living expenses? How do you feel about that reality? According to polls, over 75% of American households are in debt. Of this debt, 62% supposedly comes from medical expenses. Tuition debt from student loans is over one trillion dollars. When you look at corporate bailouts and then at the percentage of ‘regular people’ battling debt from which they have no relief, something just doesn’t seem right. Luckily, there are a handful of business savvy people who agree, and they are in the “99%.” A new company is on the scene in the US, and they are eliminating debt for Americans by the bundles, literally.
The company is called Rolling Jubilee. They take their name from an old Hebrew tradition of abolishing debts and freeing bond servants every certain number of years. Jubilee, to the Hebrew people, was a time of book clearing every 50th year, while servants were relieved of their servitude every seventh year. This started a clean slate for the nation and brought everyone to a place of equality again, so as to not over-burden any specific people or party unnecessarily. Apparently, this is an ancient tradition adopted even in the Islamic and Christian traditions of old.
Today, we are a nation that seems to be sinking further and further into debt, while still finding ways to “fund a war” over seas. It just doesn’t make any sense. Thankfully, a group of individuals with heart and mind have entered the business of bailing out the masses. How do they do this?
Debtors will sell their debts to debt collectors for pennies on the dollar. You have likely been approached by one of them if you have had a hefty unpaid bill – offering to allow you to clear it for 40, 50, even up to 70% less than the original amount. Well, Rolling Jubilee buys debts for these pennies on the dollar, but then, instead of moving forward to collect what is due – even at a reduced rate – they just go ahead and abolish them. Isn’t that amazing?
You can support the abolition of your fellow American’s debt by going to their website and contributing. For every dollar they receive, they are able to cancel $20 of debt for someone. On their site, as of the moment of this writing, they have already raised $615,396 which will abolish over 12 million dollars worth of debt for people.
How do they do it? Can you get your debt abolished?
Unfortunately there is no way of tracking one specific debt to buy up – they just buy up debts literally in bundles. Mortgages, credit cards, student loans, etc. As long as this company continues to receive donations and buy up debt, your bill could be next. How would you like to receive that long dreamed of letter in the mail telling you that you no longer have any debt – that someone has paid it off for you? This is happening with Rolling Jubilee, for thousands of Americans so far.
Started by the powerful Occupy Wall Street movement, Rolling Jubilee is a force of positive change for the people. Visit their website to support change for everyone. This new company with heart is eliminating debt for Americans by the bundles. It looks like the power really is in the people.
Written by: Stasia Bliss