Good Afternoon - Friday, Feb 27, 2009
Good Evening - Tuesday, Mar 3, 2009 Hablamos Español
If you have any questions, we’re eager to help you. Please call our office representatives:
Are Pawn Shop is licensed by the
State or Federal Government?
Yes. Pawn Shops are licensed under State laws and must also comply with Federal laws regulating certain sales.
What is a Pawn Shop exactly?
Pawn
Shop loan provide money based on the collateral value of goods like
jewelry, musical instruments, watches, antiques, cars, etc. The loans
are usually of short duration (4 months 10 days in California) and when
the borrower pays the loan, the goods are returned to the borrower. If
the borrower chooses to default on the loan, the Pawn Shop becomes the
owner of the goods and must then sell the merchandise in order to pay
off the loan
Pawn Shop Business of advancing loans to customers who have pledged household
goods or personal effects as security
on the loans. The trade of the pawnbroker
is one of the oldest known to humanity;
it existed in China 2,000 to 3,000
years ago. Ancient Greece and Rome
were familiar with its operation;
they laid the legal foundations
on which modern statutory regulation
was built.