Parts of the Occupy movement have reorganized over an interesting idea: a "People's Bailout," or, to give it its official title, The Rolling Jubilee. The idea is to purchase random debt in default and forgive the loans, as the New Statesman's Alex Hern reports.
Occupy are able to do this because banks will sell debt that isn't worth the effort to collect from debtors, as Hern explains. They sell it at a reduced price, and the purchaser takes on the responsibility of collecting. In the Rolling Jubilee's case, $500 is used to buy up $14,000 of debt.