OWS’ Rolling Jubilee Seeks to Buy and Forgive Debt

By: Saturday November 10, 2012 11:20 am

The Occupy Wall Street movement has sustained many offshoots, including the high-level wonkery of Occupy the SEC and the direct-action foreclosure defense of Occupy Our Homes. Now another offshoot will attempt an innovative solution to the private debt crisis, which has been welling up in America for decades.

This campaign began back in September with Strike Debt, which started with activists handing out 5,000 copies of what they called the “Debt Resistor’s Operations Manual,” a guide for debtors on how to navigate the often-sleazy world of debt collection and credit reports and bankruptcy processes. Providing this knowledge gave power to those drowning in debt on how to resist.


Occupy Wall Street Begins New Organizing Campaign as Strike Debt Launches

By: Monday September 17, 2012 7:07 am

Today is the first anniversary of Occupy Wall Street, and FDL’s team of reporters and citizen journalists will have you covered with all the on-the-ground activities. I wanted to add some coverage of this new offshoot of the Occupy movement, in the vein of Occupy Our Homes, the successful effort to fight foreclosures through direct action and pressure on individual banks. As you may know, this effort helped dozens of people all around the country save their homes and get loan modifications, through Occupy Our Homes groups in places like Los Angeles, Minneapolis, Atlanta and Rochester, NY.

Joe Nocera Highlights Bank’s Debt Collection Practices

By: Tuesday April 3, 2012 7:15 pm

I’ve been following Jeff Horwitz’ excellent series on credit card debt collection at American Banker, which I’ve chronicled in a couple posts. The short version is that the attention to detail in credit card debt information is as thorough and well-kept as it is in foreclosure and mortgage information. Now Joe Nocera has picked up on this series and brought it from more of a trade publication to the pages of the paper of record. Good for him.

BofA Also Selling Credit Card Debt to Collectors With No Quality Control

By: Saturday March 31, 2012 1:00 pm

We learned a few weeks ago about the JPMorgan Chase debt collection scandal, which featured robo-signing, shredded documents, and loads of criminal activity. Now there’s evidence that this was more of an industry standard, as Bank of America suffers from similar problems in their debt collection business.

JPMorgan Chase Robo-Signed, Trashed Documents in Collection of Credit Card Debts

By: Tuesday March 13, 2012 2:45 pm

Hey, remember when JPMorgan Chase abruptly suspended all their debt collection court cases a couple months ago? Now we’re learning more about the problems in their debt collection arena. And surprise, we have more robo-signing! The abuses are so bad that even the bank-friendly Office of the Comptroller of the Currency has been roused to investigate, but when were they going to tell the public?

The Actual Problem With Income and Debt Has Nothing to Do With Wall Street Bonuses

By: Wednesday February 29, 2012 7:10 pm

An article in Bloomberg describes the adjustments Wall Street denizens are having to make because their average bonuses are down 14 percent this year. Meanwhile, in the real world, one in five people didn’t have enough money to feed themselves in 2011. I know I don’t see a report in Bloomberg about this every other week, but I have to believe it has a bit more news value than whether the investment banker can afford his second home.

The American Nightmare: Debt Collector Thieves Create Fake Courtrooms to Steal from Consumers

By: Monday November 8, 2010 7:15 pm

It’s unconscionable, but sadly a part of the new fabric of America, that debt collectors managed to pull off this scam for so long, inventing fake courtrooms, fake attorneys, fake judges, fake subpoenas and fake sheriff deputies to intimidate and bully debtors into giving up assets. Basically, that amounts to theft.

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