A pawnbroker is an individual or business (pawnshop or pawn shop) that offers secured loans to people, with items of personal property used as collateral. The items having been pawned to the broker are themselves called pledges or pawns, or simply the collateral. While many items can be pawned, pawnshops typically accept jewelry, musical instruments, home audio equipment, computers, video game systems, televisions, cameras, power tools and other relatively valuable items as collateral.
If an item is pawned for a loan (colloquially, "hocked"), within a certain contractual period of time the pawner may redeem it for the amount of the loan plus some agreed-upon amount for interest. The amount of time, and rate of interest, is governed by law or by the pawnbroker's policies. If the loan is not paid (or extended, if applicable) within the time period, the pawned item will be offered for sale to other customers by the pawnbroker. Unlike other lenders, the pawnbroker does not report the defaulted loan on the customer's credit report, since the pawnbroker has physical possession of the item and may recoup the loan value through outright sale of the item. The pawnbroker also sells items that have been sold outright to them by customers. Some pawnshops are willing to trade items in their shop for items brought to them by customers
WHAT DO I NEED TO PAWN AN ITEM?
THE ITEM OR ITEMS NEED TO BE IN GOOD ORDER, THEN YOU NEED 2 PIECES OF PROPER ID. THE FIRST BEING A PIECE OF GOVERNMENT PHOTO ID AND ONE SUPPORTING PIECE.
IS A PHOTO COPY OF MY ID ACCEPTABLE?
NO, IT IS NOT.
I'VE PAWNED THERE BEFORE, CAN I DO A PAWN WITHOUT ID?
NO, YOU MUST PROVIDE ID EVERY TIME YOU PAWN.
WILL YOU TAKE ANYTHING ON PAWN?
NO, WE DO NOT TAKE BROKEN, ABUSED OR OTHERWISE UNSALEABLE ITEMS. WE HAVE NO INTEREST IN ITEMS WHERE THE OWNERSHIP IS IN QUESTION.
I UNDERSTAND OTHER PAWN SHOPS WILL CALL ME WHEN MY PAWN IS DUE. WILL YOU CALL ME WHEN MY ITEM IS DUE?
NO, WE NEVER WILL MAKE EMBARRASSING PHONE CALLS TO YOU, YOUR HOME OR FRIENDS AND FAMILY. YOUR PRIVACY IS PARAMOUNT TO US, AND FULL DISCRETION IS ASSURED. IF YOU CHOOSE NOT TO PICK UP YOUR ITEM, YOU CAN BE GUARANTEED YOU WILL NOT BE BOTHERED.
HOW SOON CAN I PICK UP MY ITEM OR ITEMS AFTER I'VE PAWNED IT?
YOU CAN PICK UP YOU PAWN ANYTIME DURING REGULAR BUSINESS HOURS, THERE IS NO MANDATORY WAIT PERIOD.
I WANT TO BUY SOMETHING FROM THE PAWN SHOP. HOW DO I KNOW THAT I AM NOT BUYING STOLEN PROPERTY?
ALL SELLERS MUST PROVIDE GOVERNMENT ISSUED PHOTO ID, ALL ITEMS ARE ENTERED ONLINE AND TRANSMITTED TO THE CALGARY POLICE SERVICE. THE POLICE SERVICE WILL SCRUTINIZE BOTH THE ITEMS AND PERSON PROVIDING THOSE ITEMS. IT WOULD BE A RARE OCCURRENCE THAT WE WOULD HAVE ANYTHING OF QUESTIONABLE ORIGIN.
AM I OBLIGATED TO PICK MY ITEM UP?
NO, YOU ARE NOT LEGALLY OBLIGATED TO PICK UP YOUR ITEM. IF YOU DO NOT PICK UP YOUR ITEM IT WILL BE PLACED OUT FOR SALE AFTER THE DUE DATE.
I REALLY WANT MY ITEM. BUT DO NOT HAVE THE FULL AMOUNT DUE. WHAT CAN I DO?
YOU CAN RENEW THE PAWN FOR AN ADDITIONAL 30 DAYS BY PAYING JUST THE INTEREST AND FEES PRIOR TO THE DUE DATE OF YOUR PAWN. ALL PAWN CONTRACTS MUST BE COMPLETED WITHIN 60 DAYS. NO EXTENSIONS ARE AVAILABLE BEYOND THIS.
DO YOU HAVE PARKING CLOSE?
YES, WE HAVE 8 PARKING STALLS RIGHT BESIDE THE NORTH SIDE OF THE BUILDING. YOU CAN PARK WITHIN 10 FEET OF THE FRONT DOOR.
I CAN'T OR DO NOT WANT TO PICK UP MY ITEM, WILL THIS AFFECT MY CREDIT?
ABSOLUTELY NOT, WE DO NOT REPORT TO A CREDIT AGENCY. IF YOU DO NOT PICK UP YOUR ITEM BY THE SPECIFIED PERIOD, IT WILL BE CONSIDERED SOLD TO US AND THE END OF THE MATTER.