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The Water Cooler
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Pawnshop and Theft ?
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<blockquote data-quote="rlongnt" data-source="post: 2143512" data-attributes="member: 665"><p>Ok, I’ll chime in. Having managed a couple while I was in school I really can’t stand pawn shops and a quick search will show my distain for the whole business. I thought it was cool at the time because I wasn’t digging ditches, it was indoors, got to play with guns, tools, smoke etc. I also know they serve a super subprime portion of the market that would have no other access to credit. Fine, I get it but at 240% APR on a $100 loan it is also severely preying those who already don’t have the means to go elsewhere. They aren’t stupid either, they know they are getting screwed. Having said that, most items sold to a pawn shop are in fact legitimately owned by the seller.</p><p></p><p>To the point, the way the law looks at it is that although you may have been ripped off so has the pawn shop. They have an investment just as much as you at this point. Often the police will come pick up the item for evidence or will place a police hold on it.</p><p></p><p>More often than not, the bad guy will gladly pay the pawn shop to get your item back fto you for reduced charges etc.</p><p></p><p>You should be able to get your item back for what the pawn shop loaned or bought it for. It is a nasty fact that in the secondary markets for anything be it gun shows, pawn shops etc. this is a risk. This is seriously something to consider when deciding on a CCW and why mine came from 2A NIB. They also don’t want their name tarnished and will almost always work with you. Don’t think for a second they aren’t going to get paid though.</p><p></p><p>One other consideration is that if you have filed an insurance claim you no longer have a vested interest in the item and pursuing it further could constitute insurance fraud on your part. If it is something of sentimental value you can hash that out between your agent and the pawn shop.</p><p></p><p>It sucks that’s for sure. Good luck.</p></blockquote><p></p>
[QUOTE="rlongnt, post: 2143512, member: 665"] Ok, I’ll chime in. Having managed a couple while I was in school I really can’t stand pawn shops and a quick search will show my distain for the whole business. I thought it was cool at the time because I wasn’t digging ditches, it was indoors, got to play with guns, tools, smoke etc. I also know they serve a super subprime portion of the market that would have no other access to credit. Fine, I get it but at 240% APR on a $100 loan it is also severely preying those who already don’t have the means to go elsewhere. They aren’t stupid either, they know they are getting screwed. Having said that, most items sold to a pawn shop are in fact legitimately owned by the seller. To the point, the way the law looks at it is that although you may have been ripped off so has the pawn shop. They have an investment just as much as you at this point. Often the police will come pick up the item for evidence or will place a police hold on it. More often than not, the bad guy will gladly pay the pawn shop to get your item back fto you for reduced charges etc. You should be able to get your item back for what the pawn shop loaned or bought it for. It is a nasty fact that in the secondary markets for anything be it gun shows, pawn shops etc. this is a risk. This is seriously something to consider when deciding on a CCW and why mine came from 2A NIB. They also don’t want their name tarnished and will almost always work with you. Don’t think for a second they aren’t going to get paid though. One other consideration is that if you have filed an insurance claim you no longer have a vested interest in the item and pursuing it further could constitute insurance fraud on your part. If it is something of sentimental value you can hash that out between your agent and the pawn shop. It sucks that’s for sure. Good luck. [/QUOTE]
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