The problems related to over-indebtedness do not affect only the French, far from it! Real estate, health, education, the world’s citizens make too many loans, and contrary to what we can think, American households are among the most indebted, especially as the rates and conditions of information related to credit are much less framed only at home. Fortunately, they also have their association, a kind of Croesus to them. Getting out when you owe money everywhere is often a good help. Small exploration of what is done elsewhere, and that might why not apply in France.
Having debts when you are a student
To pursue quality studies in schools where registration is expensive or to meet his daily needs, many young people are forced to make credits, and in the United States more than elsewhere because of the costs to hire to have his diploma. And the tuition fees in the US are very high.
But if they are very happy that a bank or a private university gives them the means of their ambitions, the return of the boomerang is felt after a few years, when the delicate hour of repayment has arrived, coming sealed the revenues modest (early career) of those lucky enough to have one.
Because in case they do not find work out of school, it is a financial disaster that is preparing and leading to over-indebtedness. Because the debts generate interests that accumulate, often important and the time of the carelessness where one thinks only of his neighbor of room has only one time.
To redeem his debt: the collective Strike Debt
That’s what happened to many thousands of these young Americans. Millions of dollars have been repaid to a university with which they were indebted. We are here in the case of a pure militancy, since the collective had already acted in the same way in the past for hospital debts, sources of many inequalities in the country of Uncle Sam.
How Strike Debt has the means to act
It’s simple: the creditors are struggling to get a refund. So when an organization offers to take over and pay off a part, they agree to spend the rest on the rest, adapting to their sauce the famous adage one is better than two you will have it.
Thus, buy back 14 million will have cost finally 400 000 USD, all financed by donations. In the country where everything is sold, a secondary debt market is organized, allowing those who are owed money to recover a little, it is always better than nothing, and everyone wins finally.
Occupy Wall Street: getting sick is no longer a necessity
They were the precursors. These militants acted on the medical expenses, by buying in the same way what thousands of American families owed. The code name of the operation: the Rolling Jubilee. To dream that care is free one day, there is only one step, that we will not venture to cross.
For having an illness and not being able to cope with expenses is commonplace in the United States. So people take loans to be able to heal themselves, and work twice as much to pay them off. We are not there yet in France, health and education being a little supported. However, it is not uncommon to make credits for this. An example to follow?