It has been done a few times over the years. Occupy had a "Rolling Jubilee."
Debt is only marked down that far if they're already pretty sure they'll never collect it. But better some comrades who are going to explicitly cancel it than a scummy collection agency who will use it as an excuse to harass the shit out of people.
So wait, in essence, they cancelled millions of dollars in debt for just a few thousand?
I'm happy they did it either way, but I'm wondering if that could be used to tackle medical debt through mutual aid.
It has been done a few times over the years. Occupy had a "Rolling Jubilee."
Debt is only marked down that far if they're already pretty sure they'll never collect it. But better some comrades who are going to explicitly cancel it than a scummy collection agency who will use it as an excuse to harass the shit out of people.