Comments on: Folks are out to get pawn shops http://www.mightybargainhunter.com/2007/07/11/folks-are-out-to-get-pawn-shops/ Personal finance, commentary, and spending less the easy way Fri, 19 Mar 2010 14:24:44 -0400 http://wordpress.org/?v=2.8.6 hourly 1 By: Dak http://www.mightybargainhunter.com/2007/07/11/folks-are-out-to-get-pawn-shops/comment-page-1/#comment-209596 Dak Fri, 19 Feb 2010 17:53:11 +0000 http://www.mightybargainhunter.com/2007/07/11/folks-are-out-to-get-pawn-shops/#comment-209596 Dont ever oawn anything at a pawnshop. im in colorado right now and i am currently being charged with 2 counts of False Information to a pawn broker. I had bought some items from a friend of mine (gold) and paid nothing for it but also got nothing for it at a pawnshop. any how, i owned the pieces for ABOUT three months, well for some reason the pawn broker is saying im lying. its also a FELONY to "lie" or "guess" how long you have owned the proporty. DONT TRUST THESE GUYS, YOULL BE PAYING THOUSANDS FOR A LAWYER LIKE I AM. Dont ever oawn anything at a pawnshop. im in colorado right now and i am currently being charged with 2 counts of False Information to a pawn broker. I had bought some items from a friend of mine (gold) and paid nothing for it but also got nothing for it at a pawnshop. any how, i owned the pieces for ABOUT three months, well for some reason the pawn broker is saying im lying. its also a FELONY to “lie” or “guess” how long you have owned the proporty. DONT TRUST THESE GUYS, YOULL BE PAYING THOUSANDS FOR A LAWYER LIKE I AM.

]]> By: Gena http://www.mightybargainhunter.com/2007/07/11/folks-are-out-to-get-pawn-shops/comment-page-1/#comment-113214 Gena Wed, 02 Jan 2008 19:41:46 +0000 http://www.mightybargainhunter.com/2007/07/11/folks-are-out-to-get-pawn-shops/#comment-113214 In Colorado it's 30 days for any item. Check out this post on how the business works. http://pawninfo.blogspot.com/ In Colorado it’s 30 days for any item.
Check out this post on how the business works.
http://pawninfo.blogspot.com/

]]> By: LTD Investments http://www.mightybargainhunter.com/2007/07/11/folks-are-out-to-get-pawn-shops/comment-page-1/#comment-77647 LTD Investments Mon, 23 Jul 2007 18:58:51 +0000 http://www.mightybargainhunter.com/2007/07/11/folks-are-out-to-get-pawn-shops/#comment-77647 Helen, Because the theif took it to a pawn shop is probably the only way you were going to recover it. We (I own two pawn shops) are required by law to report all buys and loans to local law enforcement. In most states we are the ONLY ones that report to LLE. If the thief had taken it to a flea market, second-hand store, computer store, or others it would probably have never been recovered. As to pawn shops being the pace for stolen items to show up is a media feed and mis information by some law enforcement. The state of Oklahoma credit agency looked at almost 10 years of pawn tickets and police pickups and the rate of stolen was less than .1 %. That means for $100,000 of items pawned less than $1,000 of it was stolen. The state of Ohio did a similar study and with a larger population and more urban than Oklahoma the rate was still less than 1.5% or $1,500 per $100,000. Most of the stolen items are also by family members. There was a city in Florida where the police opened a Buy-Sell store and after letting it be known that they would take anything no matter what they only arrested 18 people. But even when they opened a Buy-Sell store and not a pawn shop the media would only say pawn shop. A Buy-Sell is not regulated in most states like a pawn shop. Also thiefs get the word that a shop will take anything and they will go get anything. A pawn shop takes a persons ID and the person signs a ticket. Helen,

Because the theif took it to a pawn shop is probably the only way you were going to recover it. We (I own two pawn shops) are required by law to report all buys and loans to local law enforcement. In most states we are the ONLY ones that report to LLE. If the thief had taken it to a flea market, second-hand store, computer store, or others it would probably have never been recovered. As to pawn shops being the pace for stolen items to show up is a media feed and mis information by some law enforcement. The state of Oklahoma credit agency looked at almost 10 years of pawn tickets and police pickups and the rate of stolen was less than .1 %. That means for $100,000 of items pawned less than $1,000 of it was stolen. The state of Ohio did a similar study and with a larger population and more urban than Oklahoma the rate was still less than 1.5% or $1,500 per $100,000. Most of the stolen items are also by family members. There was a city in Florida where the police opened a Buy-Sell store and after letting it be known that they would take anything no matter what they only arrested 18 people. But even when they opened a Buy-Sell store and not a pawn shop the media would only say pawn shop. A Buy-Sell is not regulated in most states like a pawn shop. Also thiefs get the word that a shop will take anything and they will go get anything. A pawn shop takes a persons ID and the person signs a ticket.

]]> By: Helen http://www.mightybargainhunter.com/2007/07/11/folks-are-out-to-get-pawn-shops/comment-page-1/#comment-76053 Helen Mon, 16 Jul 2007 21:53:13 +0000 http://www.mightybargainhunter.com/2007/07/11/folks-are-out-to-get-pawn-shops/#comment-76053 I once had a laptop stolen and the police found it at a pawn shop. This was a laptop that was less than a year old and had cost $2000 new; the thief got about $100 for it. I think pawn shops serve legitimate needs, but should probably be subject to stricter regulations, such as a requirement to check proof of purchase or ownership before accepting pawned items. I once had a laptop stolen and the police found it at a pawn shop. This was a laptop that was less than a year old and had cost $2000 new; the thief got about $100 for it. I think pawn shops serve legitimate needs, but should probably be subject to stricter regulations, such as a requirement to check proof of purchase or ownership before accepting pawned items.

]]> By: Gaming the Credit System http://www.mightybargainhunter.com/2007/07/11/folks-are-out-to-get-pawn-shops/comment-page-1/#comment-75112 Gaming the Credit System Thu, 12 Jul 2007 21:30:37 +0000 http://www.mightybargainhunter.com/2007/07/11/folks-are-out-to-get-pawn-shops/#comment-75112 I think that a lot of items (electronics, etc.) have to go through a waiting period in my state. Pawnshops receive regular police reports on stolen goods in the area, and have to make sure that the items don't show up on a list for a couple of weeks at least. I'm a regular at a few pawnshops.... I've bought a couple of guitars, stereo equipment, tools, etc. at very good prices. I've never had to pawn anything, but I remember at least once in my childhood when my dad put his hunting rifle in hock to pay the bills. I will probably buy a hunting rifle in the next 6 months or so, and pawnshops will be one of my primary places to look for one. Really I don't see how they're any worse than other used-goods shops, such as Play It Again Sports, GameStop/EBGames (used video games), etc. All of those places are quick and easy places to sell your stuff, but you're not going to get top dollar. The bonus of a pawn shop is that you can buy it back within a certain amount of time. I think that a lot of items (electronics, etc.) have to go through a waiting period in my state. Pawnshops receive regular police reports on stolen goods in the area, and have to make sure that the items don’t show up on a list for a couple of weeks at least.

I’m a regular at a few pawnshops…. I’ve bought a couple of guitars, stereo equipment, tools, etc. at very good prices. I’ve never had to pawn anything, but I remember at least once in my childhood when my dad put his hunting rifle in hock to pay the bills. I will probably buy a hunting rifle in the next 6 months or so, and pawnshops will be one of my primary places to look for one.

Really I don’t see how they’re any worse than other used-goods shops, such as Play It Again Sports, GameStop/EBGames (used video games), etc. All of those places are quick and easy places to sell your stuff, but you’re not going to get top dollar. The bonus of a pawn shop is that you can buy it back within a certain amount of time.

]]> By: JustBeth http://www.mightybargainhunter.com/2007/07/11/folks-are-out-to-get-pawn-shops/comment-page-1/#comment-75045 JustBeth Thu, 12 Jul 2007 15:06:20 +0000 http://www.mightybargainhunter.com/2007/07/11/folks-are-out-to-get-pawn-shops/#comment-75045 I've never been to a pawnshop for either side, but my dad went when he was looking for a computer (he didn't buy one; he felt the pawn shop marked the one he wanted to a higher value than he felt it was worth--Dad's cheap). I think the one advantage that pawnshop has over a payday loan is the power of choice. With a payday loan, you give up money at whatever rate. If you don't use the payday loan properly, when it comes time to pay it back, your short money again, so you need another one. With a pawnshop, you choose the item(s) of value that you can most do without, to get the money you need. But I suppose the problem is that you take out a loan for a payday loan. Anyone can take your television and bring it to a pawnshop. I’ve never been to a pawnshop for either side, but my dad went when he was looking for a computer (he didn’t buy one; he felt the pawn shop marked the one he wanted to a higher value than he felt it was worth–Dad’s cheap). I think the one advantage that pawnshop has over a payday loan is the power of choice. With a payday loan, you give up money at whatever rate. If you don’t use the payday loan properly, when it comes time to pay it back, your short money again, so you need another one.

With a pawnshop, you choose the item(s) of value that you can most do without, to get the money you need.

But I suppose the problem is that you take out a loan for a payday loan. Anyone can take your television and bring it to a pawnshop.

]]> By: mapgirl http://www.mightybargainhunter.com/2007/07/11/folks-are-out-to-get-pawn-shops/comment-page-1/#comment-75042 mapgirl Thu, 12 Jul 2007 14:43:17 +0000 http://www.mightybargainhunter.com/2007/07/11/folks-are-out-to-get-pawn-shops/#comment-75042 Ooh. Another thing. I know a guy who worked in a pawnshop. They helped him get his certification for grading gems so he could accept jewelry. Through that training, he bought his fiancee an absolutely gorgeous sapphire engagement ring for a great price. Her stone is very high quality because he knew what to look for himself rather than trust the dealer. Ooh. Another thing. I know a guy who worked in a pawnshop. They helped him get his certification for grading gems so he could accept jewelry. Through that training, he bought his fiancee an absolutely gorgeous sapphire engagement ring for a great price. Her stone is very high quality because he knew what to look for himself rather than trust the dealer.

]]> By: mapgirl http://www.mightybargainhunter.com/2007/07/11/folks-are-out-to-get-pawn-shops/comment-page-1/#comment-75040 mapgirl Thu, 12 Jul 2007 14:39:27 +0000 http://www.mightybargainhunter.com/2007/07/11/folks-are-out-to-get-pawn-shops/#comment-75040 It used to be the place where junkies to pawn things for money to buy drugs. So it has the taint of moving stolen goods. But for the poor that use it to make rent this month and then buy back their pawned item, could it be any worse than the payday loan place? Not really. It used to be the place where junkies to pawn things for money to buy drugs. So it has the taint of moving stolen goods. But for the poor that use it to make rent this month and then buy back their pawned item, could it be any worse than the payday loan place? Not really.

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