Frequently Asked Question
Pawn loans are a quick and easy way to borrow money without a credit check or hassle. Loans are based on the value of your collateral, not your credit rating or pay schedule. Subject to individual state laws, a typical pawn loan may have a term length or 30 days/one month, plus a 30-day/one month grace period. If you cannot pay back your pawn loan in full, including any applicable grace period, we offer extensions/renewals (where permitted by state law) to give you extra time. You may also choose to surrender your collateral as payment in full.
We provide pawn loans on a variety of items, including gold and diamond jewelry, electronics, musical instruments, tools, and more. Simply bring us an item of value, along with a photo ID and we’ll get you money in minutes after your loan is approved.
Yes! States have regulated the pawn industry for decades, and most pawnbrokers are licensed and regulated by local authorities as well. We are subject to such federal laws as the Truth In Lending Act, Equal Credit Opportunity Act, Fair Credit Reporting Act, Patriot Act, and Federal Trade Commission Rules on Data Privacy and Security Transfer, as well as Federal Firearms Licenses for shops that deal with firearms. At the Federal level, we are regulated by the Consumer Financial Protection Bureau (CFPB), Federal Trade Commission (FTC), Bureau of Alcohol, Tobacco, Firearms, and Explosives (ATF), and the Treasury Department.
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If you are unable to pay back your loan in full on its due date, you may get a renewal, if permitted by state law. With a renewal, you pay the interest that has accrued on your pawn loan in full, and a new pawn loan is written. The principle pawn loan amount remains the same, as does the interest rate, but the due date is reset for the full loan term.
If you are unable to pay back you pawn loan in full on its due date, you may be able to get an extension on your pawn loan, if permitted by state law. With an extension, you will be required to pay a portion of the interest owed (varies by state), then you may extend the length of your pawn loan for as many days as allowed by state law.
The majority of our customers repay their pawn loans and pick up their merchandise.
If a customer chooses not to repay the pawn loan, the merchandise/collateral for the loan is forfeited. We may also purchase items of value if you choose not to get a loan.