Pretty much my experience too. The given advice of diversifying only gets you a lot more useless arbitrations. Too little money per award to really go after someone.
This arbitrage cost you something? Have anybody seen any starts about recovery of debts?
I think that you mean arbitration, (arbitrage is an advantage between two or more prices where you can invest in both or all with a sure profit as result).I have a ton of arbitration, in my opinion is totally useless.
Now about the recovery of debts it can be happen if the borrower wasn't a scam or identity thief and decides to pay back.This is the only way i have see so far to get back anything...
Note: It was only one time when BTCjam found that the borrower was an identity thief, around four months after he was overdue and refund us the whole investing amount.
Kind Regards,
BTC-Bank.