Quote from: RappelzReborn on June 13, 2015, 02:29:13 PM

Quote from: monbux on June 13, 2015, 02:23:22 PM

Quote from: RappelzReborn on June 13, 2015, 08:32:45 AM

Quote from: WaterFunk on June 13, 2015, 08:19:41 AM

This i what your looking for was searching this myself earlier : http://blog.btcjam.com/2014/03/04/what-happens-when-a-borrower-does-not-pay-back-his/

Thank you for the link , it's pretty useful .
However I can't seem to understand what those Arbitration companies do exactly ? and what if after the Arbitration the user Deny or refuse to re-pay what would happen ? Also all countries have those Arbitration stuff ? Shocked

Btcjam doesn't really protect you. The netarb (best case scenario) will just allow you to receive personal information of the borrower - such as home address and full name and phone number. I got scammed on btcjam a year and a half ago and the net arb didn't do shit :-/

Hmmm .. Im sorry to hear about your bad experience also thanks for letting me know .
I don't see what they expect us to do when we receive personal information of the borrower .. Should I call the Interpol if he is Alaska and I'am in Singapore ? Undecided

I will leave the thread open maybe some people will discuss their experiences with BTCJam . ty once again monbux

basically they only works as an intermediary, and not even as an escrow, it's like they are saying, "we offer you our platform, but everything else is at your own risk"

without a trusted third escrow party and without any collateral, any loan should not be done, and it is pointless, because there will be high chance of scamming, actually there is no reason(if not the common sense) for those who request the loan, to not scam you, with those premise

better to avoid it completely