Strike Debt Announces Abolishment Of Student Debt On Occupy Anniversary

By: Thursday September 18, 2014 10:16 am

Strike Debt, an offshoot of the Occupy Wall Street movement, announced yesterday that it has abolished $4 million worth of student loan debt as part of its Rolling Jubilee program. The group was able to purchase the debt for around $100,000. The announcement came on September 17th, which is the anniversary of the beginning of the Occupy Wall Street’s occupation in New York City.

The Rolling Jubilee program has abolished over $18 million worth of debt in total using the same strategies debt collectors use in acquiring large debts for pennies on the dollar, but instead of trying to collect from troubled borrowers they “abolish” the debt and send a letter to the debtor alerting them that they no longer have to pay.

 

Will OWS’ Rolling Jubilee Cause Tax Issues For Debtors? IRS Says: NO.

By: Sunday November 18, 2012 1:00 pm

The Rolling Jubilee debt elimination project is one of the best ideas to come out of the Occupy Wall Street movement. Yet some, most notably Yves Smith of Naked Capitalism, have raised concerns that eliminating debt in this fashion might create tax liabilities for the former debtors.

It turns out that the Rolling Jubilee folks have already dealt with this potential issue.

Protest Song of the Day: ‘Sign the Dotted Line’ by Jeff Mangum & Guy Picciotto

By: Saturday November 17, 2012 11:00 am

Strike Debt, an organization rooted in the idealism of the Occupy movement, kicked off their project to abolish debt and give the people a bailout with their telethon, the Rolling Jubilee. It featured Janeane Garofalo, Lizz Winstead, Hari Kondabolu, David Rees, actor/director John Cameron Mitchell, Jeff Mangum of Neutral Milk Hotel, Lee Ranaldo of Sonic Youth, Guy Picciotto of Fugazi, Tunde Adebimpe and Kyp Malone of TV on the Radio and others. According to OccupyWallSt.org, the telethon raised enough money to abolish $5 million worth of debt.

Protest Song of the Day: “I Get By” by Everlast

By: Wednesday November 14, 2012 7:20 am

Today’s song is a selection for those seeking a People’s Bailout. It is by rapper and songwriter Everlast and is called “I Get By.”

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.

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