In an earlier post on this website, we told the story of Richmond, California, a small city with big plans to end its foreclosure crisis via a novel use of eminent domain. If successful, this plan could set a nationwide precedent, and Strike Debt Bay Area (@StrikedebtBA), among other groups, is fighting to push it [...]
The Rolling Jubilee
We buy debt for pennies on the dollar, but instead of collecting it, we abolish it. We cannot buy specific individuals' debt—instead, we help liberate debtors at random through a campaign of mutual support, good will, and collective refusal. All proceeds go directly to buying people's debt and cancelling it.