Almost 4,000 indebted Americans have had their medical bills wiped out after a group of activists from Occupy Wall Street purchased and cancelled nearly $15 million of medical debt. Working through the anti-debt organization Rolling Jubilee, the activists crowdsourced donations from individual members and eventually raised $700,000. They then used this to purchase consumer debt on the secondary debt market at a fraction of the cost. Using just $300,000 they wiped out the medical bills of 3,801 individuals who collectively owed $15 million.
Posted on: Fri, 04 Apr 2014 20:50:47 +0000