Organisation plans to buy debt from banks, won't collect it

Nobody likes debt.

A new, charitable organisation called Strike Debt hates debt so much that they're planning to do something very unique to combat it. It's a common practice for banks to sell debt onto third parties, so they don't have to collect the debt themselves.

Strike Debt will buy debts from banks with money received from donations, but it won't collect them.

The genius of this idea is compounded by the fact that Rolling Jubilee, a Strike Debt project, will buy debts for a fraction of their real value: meaning the $320,000 raised so far will pay off over $6,000,000 in debt.

Sounds like a great way to make a charitable donation 20 times more valuable.