Last time I checked, btcJam is strict on the details of the borrowers there, so I think faking details would be hard
Faking details is never an issue there because I have got an arbitration award of someone that is actually a fake identity which I dont care because it is a small amount but the main point is there are currently a lot of potential scammer there. Pretty much the one that got profit there would be btcjam and the scammer.
the borrower had A+ rating, he got away pretty easy.
Which is the sad truth , even A+ ratings turn into a scammer once he got himself a lot of loan. Kinda a new scam in btcjam, build up yourself with alot of legit loans and ask for a chunk of it in the future just to grab it all away
It was a small sum and arbitration didn't affect it as it didn't go back that far in retrospect.
Unless you put on a large amount then pursuing the defaulter is simply a workload assuming he is not in the same country with you. The cost to bring a legal action to the defaulter might cause you a whole lot amount then the amount that you lend , simply not worth it