Is Strike Debt a good idea?

The "Strike Debt" movement is promoting a "Rolling Jubilee", in which distressed debt is purchased at a discounted rate and dismissed. This keeps the debt out of the hands of vulture funds who would turn to the legal system to confiscate whatever wealth they can from the debtor.

So can this work? It sounds similar to buying the freedom of slaves: it may help the individual in front of you, but it supports the system that enslaved them in the first place. Thoughts?

tip, of all places, to Reuters.