There comes a time when people encounter difficulties in their finances. Their inability to settle obligations and to meet the necessities in life forces them to choose from various alternatives to get out of their difficult situation. Securing loans from banks and other financial institutions, borrowing money from friends and associates, and selling properties are some of those alternatives.
However, there is a simple yet faster solution to that problem. If you are one of those who encounter such difficulties, you can go to a pawnshop and pawn any valuable article for an easy and fast loan.
General idea of pawnshops
Pawning or the act of pledging valuable articles in exchange for a loan started in China some 3000 years ago. It was also written in the histories of the Romans and the Greeks that pawning was already practiced during their early days. In the 1400’s, it was said that Queen Isabella of Spain had to pawn her crown and jewelries to support the Genoan-born explorer Christopher Columbus in his expeditions.
In the history of Europe, it was written that pawning was already practiced during the Medieval Era, that is, between the fifth and the fifteenth centuries. Borrowers leave any valuable article with the lender in exchange for money.
At the end of the Second World War, it was estimated that more than a thousand pawnshops operated in Ireland and the British Isles. The number declined during the 70’s because of high bank interest rates. Pawnshops were forced to close because they cannot afford to charge their clients with interests higher than what they pay the banks. However, after several years, the pawnshops were back in business.
Pawning versus bank loan
In securing a bank loan you have to present several references to vouch for your character. Generally, banks accept only collaterals with big value like real estate properties. And in most cases, you will have to employ the services of a legal consultant to interpret the terms and conditions of the loan.
Moreover, most banks charge high interest rates and various services fees that may not be acceptable to you. Furthermore, credit investigation and real property appraisal are a common practice among banks. The long process of approving your loan may compromise your immediate need of money.
In pawning, all you have to do is go to a pawnshop and present the valuable articles you want to pledge. A pawnbroker or clerk will appraise the articles and set the amount you can loan. After filling out the pawn agreement or contract with some personal information, you will immediately get your needed cash.
Pawning versus personal loans
Borrowing money from your friends, relatives, or colleagues is an option in case you immediately need cash. However, they themselves might be in tight financial situation at the time you may need their help. Besides, even if they will be able to help you, they might need their money back in a few days or weeks. But if you go to the pawnshop like the Metropolitan Pawnbroker or the cash4jewelrynow, you will have four months to settle your loan, without bothering other people.
Pawning versus selling properties
Selling properties like real estate, appliances, and personal items may not be that easy for you. Interested buyers of real estate are not always around. If you decide to delegate the disposal of your real estate properties to brokers, it might take a longer period of time to find a buyer. Selling your appliances and personal items may take a shorter period of time but the amount that you will be offered may not be sufficient for your need.
In pawning, immediate cash will be available to you upon completion of the pawn agreement or contract. Likewise, you will still have the right to the ownership of the items you pawned because they are redeemable.
Selecting a pawnshop
Make a thorough research of the pawnshop where you want to pawn your articles. Feedbacks from your friends or relatives who have engaged the services of the pawnshop will be a big help in making your decision. Likewise, there are listings where you can check the background and performance of the pawnshop.
There are many reliable and dependable pawnshops and one of them is the Metropolitan Pawnbroker or cash4jewelrynow.
The Metropolitan Pawnbroker or the cash4jewelrynow is a pawnshop that has been in the business for more than two decades now. Their competent and highly-trained personnel will give you the best appraised values of your articles. The pawnshop offers a low interest rate of three percent per month with up to four months redemption period.
At cash4jewelrynow, you are assured of the best services and the security of your valued articles.
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