We have all been bombarded with financing options during our lives. It seems that as soon as you hot 18 years old the offers come rolling in from the banks. Do you want this loan, do you want this credit card, do you want finance on your car and so on? The problem is that most of the time we use these finance offers being thrown at us, and we never seem to have any collateral that can help us pay them off if we get into a sticky situation.
How many people lose their job or just cannot find enough work in their chosen trade, yet they have taken out finance deals without any collateral. The result mean interest that piles up, fines for late payments, and eventually a plethora of extra charges because the debt collectors get involved. It really is a dog eat dog world out there and the banks are largely to blame. They are your friend when you want to get the loan but then your arch enemy when they want their money!
What’s New?
Forget payday loans or credit cards, there is a new kid on the block. Rather than taking out a finance deal without any collateral to back you up, companies such as https://www.fishpawnbrokers.co.uk/ have come up with an elaborate service that gives people the chance to pawn their belongings online, get cash paid into their bank account for the goods, and then pay off a small amount of interest each month with a small payment to pay off buying back the item each month.
The choice could be just to pay the interest, or both pay off the loan and the interest simultaneously. If you really cannot get the money to pay the item off, then the worst-case scenario is you do not get the item back and the pawn broker come financer will sell it. The huge plus here is the fact that you at least tried, and your efforts have not left you in debt.
Now the concept of using a pawn broker is nothing new so you may be wondering what is so special or new about this new kid on the block.
This is an online service. You do not need to go to the pawn broker. You can send the goods you want to pawn directly to the pawn broker and the delivery will be fully documented and insured.
- Complete an application form online
- Couriers collect your item (everything is covered by insurance)
- You accept the loan agreement offered
- The money is paid into your bank account
The entire process can take 24 hours or less. Each month you pay the interest and pay off a small amount for the good into the online pawn broker’s bank account. Once everything has been paid off, the courier will return the goods to you.
This is a brilliant service. These kinds of businesses are not only helping people avoid getting into debt with banks where fines, interest, and late payment charges make the debt spiral out of control they are also offering the entire service to be concluded online. With today’s online word and the busy lifestyles, we have, online shopping is the most convenient way to shop. Now you can also pawn items online adding yet another brilliant online service to the retail and financial industries.