Occupy Wall Street might erase your debt with brilliant scheme11/11/2012
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, we 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. [Source]
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Is this scheme so crazy it just might work?