File This Under Incredible: Ordinary Folks Are Buying Up Debt And Forgiving It

However you feel about Occupy Wall Street, you can’t deny the good-hearted mensch-ness of this idea. Some of those nice protesters have created the Rolling Jubilee, a program that will buy distressed debt (medical bills, student loans, etc.) and FORGIVE it. This. Just. Rocks.

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Mischa Nachtigal More from Mischa »

However you feel about Occupy Wall Street, you can’t deny the good-hearted mensch-ness of this idea. Some of those nice protesters have created the Rolling Jubilee, a program that will buy distressed debt (medical bills, student loans, etc.) and FORGIVE it. This. Just. Rocks.

And a video with some explanation:

Note: If you have a lot of debt, you shouldn't just default and expect this to save you. They are choosing people at random for this program. If you have a real problem with debt, you should talk to a professional counselor. Here are some resources at the Department of Justice and the National Foundation for Credit Counseling.

ORIGINAL: By the Rolling Jubilee. Found on How To Sharpen Pencils. If you want to know more about this and how it works, read this article on Slate. If you think this is a good idea and have a few bucks to spare, consider donating to the cause.
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