Do you have any evidence that any of his accounts were "purchased"?
I do not. This is just my thought along the lines of "if I were to run away with 150+ BTC of loans would I really put my real eBay account and real Facebook friends out there".
That and the amazing coincidence of multiple deadbeat borrowers among said "friends"... again, matches my imaginary scenario where if I spent money on a network of fake accounts I would probably make mutual endorsements and borrow to the max on each account for the best ROI on the "investment".
Do you not trust my "think like a scammer" logic
Of course there is always a possibility that he was dumb enough to use his real info... wouldn't be the first dumb scammer but the pattern of these loans shows a decent amount of effort so not sure it's that simple.
Well 150
BTC is roughly $42,000 at $250/BTC which is a non-trivial amount, especially if he was facing major financial problems like foreclosure.
It is fairly well known that a credit card company will not sue you for less then several thousand dollars worth of defaulted debt, and they are able to do that because they have economies of scale for those kinds of lawsuits. The threshold for someone who only owns a handful of loans is going to be much higher for it to be economical to pursue litigation, plus if you pursue litigation and the borrower lacks any kind of assets/income to pay a judgment then the lender will have spent however much money to end up with nothing. Also many creditors are not going to have sufficient knowledge of the law to comply with the FDCPA, and when such creditors do not comply, then the borrower can make counter claims as such which would create potential liabilities for the lenders.
I would encourage anyone who owns this person's debt to pursue legal action, however I doubt that very much money will be collected, if anything, likely mostly due to most people not attempting to collect via the legal system.
The likes of BTCjam are filled with scammers because it is difficult for people to through up legitimate red flags, because things like reputation loans are somewhat encouraged, it is difficult to communicate in a way that it would be expected that many people will see such communication, among other reasons.
Sites like prosper can pursue legal action against delinquent borrowers on behalf of all lenders, which makes collection much more cost efficient, and will lead to both high collection rates and a higher chance of collection being attempted in the first place which discourages borrowers from defaulting while they have the ability to pay.
Most large companies have policies against looking on social media and relying on google searches to influence hiring decisions because of the potential for inaccuracies, although they can (and do) use credit reports if the position they are hiring for requires some amount of trust due to the position needing to be in possession/control of some amount of money (cash or otherwise). Defaulting on ~$40k worth of BTCjam/loanbase loans is little different then defaulting on a
total of ~$40k worth of credit card loans from several credit card companies.
(in case you have not noticed, I would discourage you from "investing" in BTCjam type loans)
