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Card Credit Debt Default Elimination: May 25, 2008

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TIL Rolling Jubilee, a Strike Debt project that buys debt. – This is basically telling you that the debt they absolving has less than a $10K $15k face value, as this is the federal limit for tax free gifts. (Edit: now it’s $15k) They are also telling you this is only a legal theory and not the law (eg, this is why they say “we believe”).

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Pa., N.J. students plunged deep into college debt by high tuition, broken programs and customer service horrors | Debt Valley – By the time you finish reading these next three paragraphs, another young person will have slipped into default – an event that destroys credit, may delay marriage. Education debt now surpasses.

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