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Why there is no non-profit here that gets donations and spent them to wipe out medical and general debt that is the cheapest available on the market right now?
by vittore 10y ago
Why there is no non-profit here that gets donations and spent them to wipe out medical and general debt that is the cheapest available on the market right now? Or are there ?
- goda90 10y agoThere are some. Like http://rollingjubilee.org/ http://rollingjubilee.org/
- xhrpost 10y ago"But as of December 31st, 2013, we have stopped accepting new donations."
- dannypgh 10y agoThe tactic seems questionable. I'd rather give money to people who provide legal assistance to folks getting hassled by debt collectors, and spread information about people's rights under the FDCPA and other laws. The reason for that being, buying up bad paper raises the value of it, whereas letting people know their rights lowers the value of it. If bad paper was worth less, debt originators would have stronger incentives to work something out with their insolvent customers rather than sell to shady debt collectors.
- deleted 10y ago[deleted]
- xseven 10y agobad idea, that's like validating the debt buying industry
- pyvpx 10y agoguess what the US Dollar is backed by? guess what many monetary systems have been based on for quite sometime? debt!