loan defaulters...

[mishra1994]

Has anyone ever been sent to jail or anything for not repaying loans....i have seen people doest pay 50-100btc and there are many of those...what do collection agency do...how they recover amount from different countries

[Atomicat]

There is nothing much that can be done if someone doesn't pay you a bitcoin loan unless you signed a legal agreement.

No one lends 50-100 BTC these days. The people who haven't repaid these big amount loans probably took them when the bitcoin price was low.

[mishra1994]

There is nothing much that can be done if someone doesn't pay you a bitcoin loan unless you signed a legal agreement.

No one lends 50-100 BTC these days. The people who haven't repaid these big amount loans probably took them when the bitcoin price was low.

No i am talking about bitcoin lending sites...like btcpop , btcjam, there is see people run away with 30-40 btc ..they had submitted id proof address proof there but still for months they are in collection and nothing happening...i also invested in such loans but not got my amount back which went to collections..

[KenR]

No i am talking about bitcoin lending sites...like btcpop , btcjam, there is see people run away with 30-40 btc ..they had submitted id proof address proof there but still for months they are in collection and nothing happening...i also invested in such loans but not got my amount back which went to collections..

In that case,you should take the matters in your hand and do something about it.You can write a support ticket request the documents,take help from the peers who live nearby the addresses mentioned.Contact legal agencies and Cyber Crime officials in the area.Also,all this will make sense if the documents submitted are legit.You can get tons of fake documents which are easily approved by such lending sites since its not their money they're risking.

[Fortify]

The lending sites you speak of let quite a few scammers off the hook, same with the "crowdfunding" websites where promises meant nothing. They got a lot stricted though and certain sites probably disclose your identifying information after a court order, most likely by a US defendant. That could mean a the offender has a record put on their credit score or the debt cases may be retried to be sold in other countries. It is better to just not rip people off and pay what you owe, as long as you did not agree to extortionate repayment rates.