The Debt Collective 🟥
@StrikeDebt
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The nation’s first debtors’ union, organizing to build power with debt as leverage. You are not a loan! Press: [email protected]
Joined June 2012
If the United States wants to "run" a country maybe we try running the United States first. We put folks in prison based on race/class. It's easier to get a gun than health care. A college degree is a mortgage before your mortgage and the Supreme Court decides everything for you.
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The United States is the only country where medical debt exists. Pretty sure no nation wants us to "run" them.
“Venezuela Is Not Going to Be a U.S. Colony”: Report from Caracas on U.S. Attack & Maduro Abduction https://t.co/3Xil3xYtuW
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If Democrats need an idea for leverage in the next government shutdown fight, part of it could be this.
Student loan forgiveness is becoming taxable again, meaning borrowers could owe the IRS thousands when debt is erased. Relief shouldn’t come with a surprise bill. People deserve transparency & fair policy.
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Legislators need to make this illegal immediately.
Wegmans in New York City has begun collecting biometric data on shoppers' eyes, voices and faces from anyone who enters its supermarkets https://t.co/qPkZ52sH3d
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We joined @democracynow this morning to talk about the Trump administration beginning student debt garnishment in January. Student debtors should know they don't always have to pay — they can request pauses on garnishment or get debts canceled if they're eligible for programs.
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The Education Department says it will start garnishing the wages of about 5 million people in the U.S. who are in default on their student loans. Julia Barnard with @StrikeDebt says the system is "cruel and hostile to working people."
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It should be easier, not harder, to file for bankruptcy when student loans and other financial burdens weigh too heavy. But going bankrupt because you dared to attend school to become a nurse or a teacher is not a solution — full automatic cancellation and free college is.
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A reminder that Joe Biden fought tooth and nail to ensure student debtors couldn’t discharge debt through bankruptcy. It’s so difficult to do that when a few dozen folks whose lives have fallen apart do get a judge to grant bankruptcy (which isn’t exciting), it’s framed as a win.
“The vast majority of student debtors who seek discharges in bankruptcy are getting them, in large part because of a simpler legal process that was introduced three years ago.” https://t.co/MvqMtd5ead
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this certainly isn't a solution to the student debt crisis, but FYI, if the government sends a notice of intent to offset your wages (this is mandatory, they have to send it to you), you can literally object. you have to fill out a form, but you can request they not garnish wages
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In March, @astradisastra of @StrikeDebt spoke about future threats: "...the Trump administration is going to mean more debt...when you attack labor, when you take away public jobs, when you take away public goods...people are going to have to borrow." https://t.co/eIi68o78L8
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All Biden had to do was codify Roe and forgive all student loans and he did neither
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Pros: debtors can get out of default, reduce their balance, or have their defaulted loans canceled entirely. Cons: both options are rarely granted, as the Dept. of Ed is usually able to get repayment.
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Compromise and write-off: in some cases, the Ed Dept will reduce a loan’s outstanding balance or permanently suspend collections, often for debtors who are incarcerated.
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3. Lesser known options: Recall: debtors in forbearance/deferment who went in default due to a loan servicer error can challenge the default + have it undone.
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Pros: debtors in need can have their loan cancelled or pause forced collections. Cons: cancellation is not available for all loan types or for borrowers pursuing public service or teacher loan forgiveness; hardship exemptions are temporary and do not resolve the default.
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