Pawn broker problem

ToxicWomble

Surely as the items were taken as collateral for a loan then the items (even if they no longer exist) remain the property of the pawn shop until the loan is paid in full.
As above just call it quits, they write off the loan, they keep the items, you have no more payments to make.

pinkshoes

So you have paid over £1000 interest for a £200 loan???

How much was the actual value of the gold?

The items are gone, so negotiate a good value for them, pay off the £200 debt then put the rest of the money in the bank and save it!

zoob

My thinking is, they give you £200 loan with Jewellery worth £400-£600 retail value as security
I’d be asking for the retail value back less what’s owed on the loan

Doodler123

Pink shoes yes I’ve paid over £1000 over the years

All I want is a bit of fairness

I have always honoured my end of the contract and until now so have they

I
Just feel it’s
All a little unfair

Doodler123

Zoob

It’s hard to put an exact retail value on it

There was just under 30
Grams of gold there all together

DoaM

Current gold price is around £39.70 per gram. 30 grams would be worth around £1,191.

https://www.bullionbypost.co.uk/gold-price/gold-price-per-gram/

lincroft1710

This is ridiculous!!!!!

You had a loan of £200, you said you can't pay it off, yet every 14 months you have paid almost that in interest!

kazwookie

Surely this has to be some sort of wind up

£200 loan and you have paid HOW much each month....................madness

Doodler123

Lincroft
The issue isn’t my ability to pay
It’s the fact they have got rid of my gold

I could afford the £96 but not £296

Doodler123

Kazwookie
It’s not a wind up

I was stuck in a position where I never had enough
To pay the £200 plus the interest so in
Order to make sure my gold was safe
I just kept renewing and paying the interest

I don’t need to be made to feel any worse than I do

I’m not proud of the fact I pawned it and for
Other reasons I’ve not had any money to get
It back out.