A group of former Occupy Wall Street activists have abolished nearly $15m of medical Debt [View all]

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Thousands of Americans are free from debt thanks to a grassroots project called Rolling Jubilee.

It has raised $700,000 (£422,000) by crowdsourcing money to buy consumer debt on the secondary debt market for a fraction of its original value. It then spent $300,000 (£181,000) wiping out almost $15m (£9m).

So far, 3,801 people have benefited in 46 states and Puerto Rico, according to organisers.

“It was a godsend. I didn’t know these people,” 80-year-old Kentucky resident Shirley Logsdon told Agence France-Presse, after her medical bill was paid off.

According to Rolling Jubilee, 62% of bankruptcies are caused by medical illness.

The campaign is a project of Strike Debt – a group of former Occupy Wall Street activists in the US, who campaign for economic justice and democratic freedom.

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http://positivenews.org.uk/2014/economics_innovation/15071/goodwill-campaign-frees-thousands-americans-15m-debt/