pawnbroking

sick_of_being_skint_2

Can someone please explain how this works??

msmicawber

The pawnbroker 'values' the goods and works out how much he could sell them for and offers you slightly less than that.

If you want to proceed, you're given the amount of money in cash plus a
ticket.

Provided you pay the money back by the redemption date (on the ticket), you get your goods back. If not, the pawnbroker keeps your goods and sells them.

I hope I've set that out clearly.

lil'H

i'm no expert but basically you take in a item say your tv, they give you £75 and keep it there for a set time. Within that time you have to buy it back for say £150 or if you don't make the date they own it and can put in into shop to sell. No idea on actual figures but it is an extremely high interest loan basically, adn you run the risk of loosing your items. Personally I'd stay clear, but I could have got the wrong end of the stick on how it works!

Lil'H

sick_of_being_skint_2

thanks guys thought that was basically it.

i'm in the sh*t basically and need to get a few hundred quid by Saturday and there is no way out of it xx