If Occupy Wall Street has its way, your next bill from debt collectors might have a zero balance. Occupy is trying to quietly buy up "distressed debts" from lenders at rock-bottom prices, and then forgive them.
Yes it’s legal (they’re coordinating with the IRS) and works: "As a trial run, they spent $466 and successfully bought and abolished $14,000 of medical debt," Occupy said in a statement.
A "Rolling Jubilee" telethon will be held next week to raise $50,000, which could erase $1 million in personal debt. "This is a simple, powerful way to help folks in need, to free them from heavy debt loads so they can focus on being productive, happy and healthy," organizer David Rees said.
NYC Wins When Everyone Can Vote!
Michael H. Drucker
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