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.
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.