As individuals, families, and communities, most of us are drowning in debt to Wall Street for the basic things things we need to live, like housing, education, and health care. Even those of us who do not have personal debt are affected by predatory lending. Our essential public services are cut because our cities and towns are held hostage by the same big banks that have been bailed out by our government in recent years.
We are not a loan. Strike Debt came from a coalition of Occupy groups looking to build popular resistance to the all forms of debt imposed on us by the banks. Debt keeps us isolated, ashamed, and afraid. We are building a movement to challenge this system while creating alternatives and supporting each other. We want an economy where our debts are to our friends, families, and communities — and not to the 1%.
Debt resistance is just the beginning. Join us as we imagine and create a new world based on the common good, not Wall Street profits.
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.
We're beginning this effort with The People's Bailout, a variety show and telethon in NYC on November 15. All proceeds will go directly to buying people's debt and cancelling it.
"This fiftieth year is sacred—it is a time of freedom and of celebration when everyone will receive back their original property, and slaves will return home to their families. "
Jubilee —Leviticus 25:10
Another amazing day for #RollingJubilee. We're over $100,000 in donations, which means we'll be able to abolish over $2 *million* dollars of debts.
This has been a truly incredible show of mutual aid, by thousands of participants. Thank you all for showing that another world is not only possible, it is almost here.
☛77.5% of American Households are in DEBT
☛62% of ALL Bankruptcies are caused by a Medical Illness
☛Student Loan DEBT has Exploded
☛Tuition DEBT is $1,000,000,000,000.00
☛1 in 7 Americans is Being Pursued by a DEBT Collector
☛The Ratio of Household DEBT to Income is 154%
40% of Indebted Households used Credit Cards to Pay for Basic Living Expenses