Informations on how pawnbroking works

Pawnbroking what does it mean?:

You are of age. You own an item of value. You need cash. Come and see us! We make an on-the- spot- valuation of the good. We immediately hand You out the documents as in the terms and conditions of the loan. We also give You the full amount of the loan in cash.

The agreement on the pawn credit:

Making a contract on the loan of a pledged item:

You are at least 18 years of age, show us Your ID and an item that can be pledged and which You own. We will value the item on the spot and with Your agreement on the sum to be advanced we will hand You out the amount in cash as well as the contract on the agreed terms and conditions.

No time, no time:

If You are unable to attend personally a confident can do the business for You bringing Your ID and a copy of a letter of attorney written by yourself.

Duration of the agreement:

The agreement is usually for a period of three months and a further statutory period of one month. So in total You have four months time to redeem or to renew the loan.

You own an item of value. You need cash. For a personal and individual consultation please contact us!

Costs of contract by law:

The interests amount to 1% of the total loan sum per month and a monthly fee for the storage and the insurance of the pawn. The billing always takes place retroactively that is after the time you have determined.

Example for a redemption bill: (1 month)

You only pay € 8,-- for the interest and fees after one month.

Of course an extension of the loan is also possible. Then You only pay the interests and fees of the initiated period.

Example for an extension agreement: (3 months)

With an extension agreement You only pay € 24,00 after an elapsed time of 3 months.

Neither redeemed nor extended:

We give a great importance to good will! Even though we are not obliged to do so, we will remind You that Your contract period will come to maturity.

If You have neither extended nor collected Your pawn we are required by law to put the pleged item up for sale.

The dates of auction are communicated by press.

The proceeds of sale:

Where the proceeds of sale are greater than the amount due to the pawnbroker (loan, interest fees, sale) the balance is due back to the customer which can be collected in cash.

If proceeds of sale are smaller than the loan on the pleged item the pawn shop will carry the expenses.

For loan, interests and fees only the pledged item is liable.

Loss of pawn-receipt:

It is necessary that You immediately contact us (the pawn-shop) in order that no unauthorized person can get access to Your property. There will be an immediate access refuse to the pleged item!

If in that case You want to redeem Your good You will have to sign a replacement pawn-receipt in order to have it handed out.

Redemption of a pleged item after loss of the pawn-receipt is generally only after 3 months and 1 day possible.

Data protection: no informations are beeing passed onto the Schufa!

Of course Your personal data will be handled confidentially!