What happens if I pay after due date on a pawn shop?
I pawned a 14k gold necklace and the 14 is the due date it's on a Sunday tho and I don't have the money rite now. Can they hold until Friday that I can pay or will they call it theirs after the 14? Whays gonna happen If I don't pay it3 years ago - 2 answers
After the due date, they can do anything they like. Read your contract.3 years ago
If you do not have enough money to pick up your pawned item, you have the option of making a smaller payment that will extend the term of your loan. Here in Indiana it works like this: Say you make a loan for $100 on your item, you have 90 days to redeem or extend the loan and every 30 days you are charged approximately $22. If you come into the shop before the original term of the loan is up and pay that $22 or a portion of, your end date for your loan will be extended. For example, $5 would get you an additional 6-7 days, $10 an additional 14 days, or $22 would get you an additional 30 days. If your original loan term was up today and you don't want to lose your pawned item, I would suggest that you be at the shop when they open tomorrow to make that small payment, or at least give them a call to let them know that you will be coming in. Some shops will hold your loan for an additional few days if you give them a call, but it's up to the particular shop if they do or not.
Source(s)by PKsellers - 3 years ago