Pawn Shop Lenders Definition
Pawn shop lenders definition
Pawn shop lenders definition. If the loan is not. One may retrieve the item within a certain period of time if one repays the loan with interest. Pawn shops are often associated with predatory lending practices. Borrowers pledge personal property as collateral that the pawn shop holds and sells if the loan isn t repaid.
Pawnbroker the owner of a pawn shop which is a place where one may pawn an item or buy items other persons have pawned. A pawnbroker is an individual or business pawnshop or pawn shop that offers secured loans to people with items of personal property used as collateral the items having been pawned to the broker are themselves called pledges or pawns or simply the collateral while many items can be pawned pawnshops typically accept jewelry musical instruments home audio equipment computers video game.