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Daniel Whitley

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pawnbroker ny gem pawnbrokers nyc pawn shop

started by Daniel Whitley on 09 Mar 12
  • Daniel Whitley
    Banks won't bother with you and even paycheck loan places gives you a hard time. All is not lost though, since time began the initial and most secure form of banking has been Pawning.

    A Pawnbroker loans people money and takes that persons valuable items as collateral for the loan. The customer pays back only the eye every month, and pays back the initial loan amount when he wants the collateral back. If the customer fails to make their interest payment or fails to pay back the principle within a pre-determined time frame, the merchandise becomes the property of the pawnbroker. No matter the way the transaction ends the customer’s credit is never affected.

    There does exist evidence of Pawn Shops heading back 3000 years to China and the Roman Empire. Through the middle Ages, certain usury laws imposed through the Church prohibited the getting of interest on financial loans, thus limiting pawn broking to individuals who had religious beliefs outside the Church. Out of financial necessity, and because of problems inside banking system, pawnshops made resurgence in later years. This was the original type of banking and the deal was passed on over the years through Europe, and eventually on the US. Queen Isabella associated with Spain pawned the top jewels to finance Columbus' voyage to America. Today there are pawn shops anywhere you go. There are even references to Pawn Brokering in the Bible.
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    The universal symbol associated with pawn broking is a few gold balls and is one of the most easily recognized on the globe. The Medici families in Italy with the Lombards in England were moneylenders in Europe. Legend has it that one of the Medicis in the use of Emperor Charles the fantastic fought a giant together with slew him with a few sacks of rocks. The three balls or globes later became part of their family crest, together with ultimately, the sign of pawn broking.

    In add-on to offering collateral loans, Pawn Shops are great places to uncover deals on sought when products. Pawnbrokers sell the products that they take within as collateral to recover losses on pawn loans which were never paid. By law they are only allowed to add a small percentage to the cost in the item when they sell it, so you often see amazing deals on things like Xbox 360s, PlayStation 3s, televisions and more. You never know what will you find for sale for a pawn shop.

    In today's world it was only a matter of time until the pawn business went digital. Today pawn shops are offering enable you to pawn items online from the comfort of home. Reputable Pawnbrokers are offering these and also other services to customers in an attempt to increase business and make the approach easier for the client.

    No matter how you decide to use a pawnbroker, online or waiting for you, you should make sure likely licensed and insured. An unlicensed pawnbroker is only a loan-shark so buyers beware. But all in all a pawnbroker is one of the best and easiest ways to get money fast and not have to worry about credit. It tough lending times like the ones we are now experiencing Pawn brokering may very well be your only option!

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