The Rolling Jubilee initiative was founded by Strike Debt, a debt resistance movement established after the rise of the Occupy Wall Street campaign. Strike Debt stood for the 99% and against the 1%. The Rolling Jubilee is here to help individuals get out of debt. Ironically, Rolling Jubilee incorporates Wall Street strategies into their own work: different types of debt is bought then sold on the secondary market for pennies on the dollar. The difference is, however, this bailout is for the people.
By signing up for this type of debt forgiveness, people are not confronted on a daily basis. Instead of engaging with excessive debt collectors, the consumer receives a clean slate, all is forgiven. The best part is that this is all legal; it is a wonder this was not done before?
This movement offers debt sufferers a unified approach to getting out of the red. So many individuals suffer in silence with their growing hardships. The debt problem is worse for Black and Latino communities. They are subjected to other dominant forces of racism and distribution inequality, which further sets these groups at a disadvantage. These communities need to unite more than ever. Do not be ashamed of discussing your debt, just imagine your debt going POOF!
Well America now there is a way for everyone to experience freedom from debt. Stop living from paycheck to paycheck. Your freedom is just a click away, let the jubilee help you today. This is a bailout for the people, by the people. The most important part is that you realize You Are Not A Loan.
By Stacey David
Urban Policy Analysis & Management M.S. degree candidate at the New School for Public Engagement