Pawnbroker

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 word pawn is derived from the Latin pignus, for pledge, and the items having been pawned to the broker are themselves called pledges or pawns, or simply the collateral.

If an item is pawned for a loan, within a certain contractual period of time the pawner may purchase it back 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 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.

Read more about Pawnbroker:  History, Symbol, In Asia, Popular Culture

Other articles related to "pawnbroker, pawnbrokers":

History Of Pawnbroking - United States
... The pawnbroker in the United States is, generally speaking, subject to considerable legal restriction, but violations of the laws and ordinances are frequent ... renewable annually on payment of $500, and the pawnbroker must file a surety bond with the Department of Consumer Affairs, in the sum of $10,000 ... which may vary for different amounts, and in Boston every pawnbroker is bound to furnish to the police daily a list of the pledges taken in during the preceding twenty-fou ...
The Pawnbroker (film) - Legacy
... The Pawnbroker is viewed as one of Steiger's most notable film roles, and as one that was crucial to his ascendancy to the top ranks of his profession ... During the episode, Steiger cited The Pawnbroker as being the film he viewed as a significant standout of his body of work ... The Pawnbroker was the first film featuring bare breasts to receive Production Code approval ...
History Of Pawnbroking - Britain and Ireland - Pawnbroker's Licence Law, 1872
... The result of the Select Committee was the Pawnbrokers Act of 1872, which repealed, altered and consolidated all previous legislation on the subject, and ... Pledges pawned for £0.50 or under and not redeemed in time become the property of the pawnbroker ... (= about 0.2 p) for the pawn-ticket (sometimes not charged for very small pawns) the pawnbroker is entitled to charge as interest one halfpenny per month on every 2s ...
Pawnbroker - Popular Culture
... an early Sherlock Holmes short story by Sir Arthur Conan Doyle, centers around a London pawnbroker and his somewhat shifty young clerk ...
The Pawnbroker (film)
... The Pawnbroker is a 1964 drama film, starring Rod Steiger, Geraldine Fitzgerald, Brock Peters and Jaime Sánchez and directed by Sidney Lumet ... In 2008, The Pawnbroker was selected for preservation in the United States National Film Registry by the Library of Congress as being "culturally, historically, or aesthetically significant" ...