Pawn Facts
Have you lost your pawn ticket? Protect your pledged goods!
Unless you notify us, anyone with proper ID with the correct pawn ticket may redeem your item. Written lost ticket notification will require the original owner to redeem the item in person.
Have you passed your loan's due date?
You may redeem your item with associated interest up to 60 days after the due date. Sometimes we can “hold” an item longer for you but not to exceed more than 30 days after the total 3 months. Otherwise, after the last day of grace your item becomes the property of Erwin pawn and your item may then be sold.
Renewal
Renewing a pawn loan creates a whole new loan contract, usually by only paying off the existing pawn loan. A renewal must be done in person.
Extension, memorandum of.
A pledgor and pawnbroker may agree to extend the date a pawn loan is due. The pawnbroker will compute the charge based on the number of days the loan is extended. A written record must be made of the extension. This may be arranged by mail.
Closed Pawnshop
If we are closed on the last day of grace, the time is extended to the close of business on the next business day we are open during regular hours.
Are your pawned items safe?
Many precautions are taken to prevent loss or theft of pledged goods. Unfortunately, this may still occasionally happen. If the pawnbroker loses your pawned goods, and EXACT replacement is not necessarily required to be provided to you. Furthermore, in such cases, a pawnbroker is liable for loss or damage to pledged goods only as described on the pawn ticket. The pawnbroker is required to repair or replace the lost or damaged item with like kind and quality.
DESCRIPTION
This should be detailed and accurate (serial numbers, make/model, size, color, etc.). Vague or missing descriptions may cause problems if the item is lost or damaged. Common examples of detailed information include accessories such as a remote control with a TV or a list of titles of DVD movies.
Priceless Items
Sentimental value cannot be replaced; if an item is truly irreplaceable, consideration of its loss should be made before pawning it.
Burglary Victim? Pawnbrokers will assist you
Inquiries should be made by giving the pawnbroker - within 30 days – a copy of a law enforcement agency offense report which adequately describes the stolen property. If there is evidence stolen property is or was in the pawnshop, the pawnbroker will notify the law enforcement agency that originated the report within roughly 2-3 days.
Do you understand the rates for pawn loans?
The Texas Legislature sets the maximum rates pawnshops may charge and the Office of Consumer Credit Commissioner is responsible for enforcing the laws. On $100, the charge could be $20 per month, which is 240% APR.