posted on Nov, 16 2013 @ 08:18 PM
Most people think OWS ended when the jackbooted police units broke up the last of the camps but, the movement lives on and is helping everyday
Americans to overcome the crushing weight of debt in their lives.
They have been buying up the medical debt before the collection companies can get their hands on it and forgiving that debt for the unfortunate
individuals who have become slaves to medical debt. When a debt becomes delinquent, it is sold off to collections agencies for pennies on the dollar,
allowing the debt collectors to cash in on the full value of the debt. OWS, through its Rolling Jubilee Project has been buying up this debt at the
fire sale prices and then eliminating that debt, thus making their money more powerful through the same agencies the debt collection companies use to
Check Out How Occupy Eliminated 15 Million Dollars Of Personal Debt For Americans
The Occupy movement has slipped from the mainstream American consciousness. Parks are no longer being occupied, large-scale protests on Wall Street
have subsided and the loud chants of “We are the 99 percent” have slowly dwindled away. However, this hasn’t stopped Occupy from remaining
committed to their message of fighting injustice and their commitment to helping everyday Americans like you and me. Occupy Wall Street created a
group called the Strike Debt group. This group’s goal is to help eliminate as much debt as humanly possible. As part of the Rolling Jubilee project
Strike Debt has successfully eliminated almost 15 million dollars’ worth of personal American debt. Most of the balances eliminated has been medical
Strike debt is able to purchase debt for pennies on the dollar through the “secondary debt market.” When lenders aren’t able to collect their
debts, over time they cut their losses and sell the debt to third parties at a fraction of the sum unpaid value. Debt collectors will purchase the
debt, at extremely low prices, and harass individual debtors to make a profit. These companies usually try to scare individuals into paying the debt
back at full price, unknowing that the company purchased their debt for a fraction of the value. This is what you can consider a legal scam.
Most of the debt “abolished” by the Strike Debt campaign was in medical bills. Obviously, 15 million dollars is a drop in the bucket when it comes
to the secondary debt market. Nevertheless, it is great to see true grassroots organizations helping Americans in a substantial way. Individuals who
were helped by Strike Debt received letters like this,
explaining that they are no longer responsible for their medical debt!
Imagine if other groups were to take up this practice; we could steal away the main revenue stream of the leaches who live off the misery of American
society and free up the people to stand up on their own, unsaddled by the debts that keep them in perpetual wage slavery to the banksters and the
Makes me wonder if its possible to buy up my own debt on the secondary market for pennies on the dollar and free myself. Imagine if everyone gained
access to this market and was able to eliminate their own debt at these prices. This could be the solution to eliminating the debt that is smothering
the American people and the economy.