My faith in humanity has just been restored. No, I didn’t just get a lifetime supply of “free erotic massage” coupons from a nymphomaniac with no gag reflex – I just found out about the Rolling Jubilee. Don’t get me wrong: I wouldn’t turn down the whole erotic massage thing, but this is pretty damn important.
So what’s the Rolling Jubilee, you ask? Well it’s just about the most brilliant charitable organization ever. An offshoot of the Occupy movement, Rolling Jubilee goes around purchasing consumer debt from lenders – much as a debt collection company does – but instead of stalking debtors day and night, it simply abolishes it. Rolling Jubilee buys consumer debt for pennies on the dollar and then just makes it disappear, and as of this moment the charity, which has raised nearly $350,000, has eliminated more than $7 million in consumer debt.
This is absolutely outstanding. According to the website, nearly every penny donated to the charity gets put towards buying debt (minus the nominal administrative fees), and a single dollar donated eliminates $20 worth of debt. I usually try to keep things like this to a minimum, but if you have a spare dollar, why not toss it at Rolling Jubilee and help someone suffering from crushing mortgage debt get out from underneath?
Think about it: there are more than 311 million people in the US. Can you imagine if even one percent of the US population donated a buck each to Rolling Jubilee? Just 3.11 million people, all donating just one dollar. That’s equivalent to sixty-two million, two hundred thousand dollars in debt relief to people who need it most – families underwater on their mortgages, people paralyzed by insane healthcare costs, households struggling with credit card debt after having to pay the rent on the old MasterCard because they got laid off. And that’s just one percent of the US population. The potential for good is absolutely staggering.
And no, I’m not just saying that because I’ve got God knows how much student loan debt. Besides, student loans aren’t eligible for purchase by the Rolling Jubilee, since it’s all federally guaranteed funding. I guess the US government hates competition after all.
Still, what’s a buck going to cost you?