Life throws curveballs, and sometimes you need a financial lifeline. At TBGoods Pawn, we’re here to offer assistance with our hassle-free, collateral-based loans. While the Florida State Pawnbrokers Act governs the rules behind these loans, we understand that legal jargon can be daunting. That’s why we’re simplifying it for you, ensuring you’re equipped with the basics.

Who Qualifies for a Loan?

Securing a loan is straightforward. As long as you’re of legal age (18 or above) and possess a valid government-issued photo ID, you’re eligible. No credit checks or cosigners required – it’s that simple!

Accepted Forms of Identification

State-issued driver’s licenses, ID cards, or passports are the primary forms of accepted identification. Just ensure they’re valid and haven’t expired.

Understanding Costs

Per the Florida State Pawnbrokers Act, a standard maximum finance charge of 25% applies every 30 days for the initial 60 days. After this period, the finance charge is prorated, offering savings for early redemption. Take advantage of TBGoods Pawn’s Preferred Rates and VIP Program for even more savings!

Additional Fees

Upon loan initiation, you’ll receive a printed sheet detailing loan terms and item descriptions. Ensure you retain this document, as you’ll need it for redemption. Reprinting copies incurs additional fees.

Loan Redemption Process

Redeeming your items is hassle-free. Simply present your copy of the pawn agreement and a valid ID. Remember, only the pledgor listed on the agreement can redeem the item.

Understanding Dates

Maturity Date marks the 30-day deadline for loan maturity, while Default Date signifies the 60-day mark, indicating potential default. Timely redemption saves money, with an additional 30 days granted after the Maturity Date.

Loan Repayment Options

Payments equal to the finance charge or total redemption amount are accepted. Partial payments or payments toward the principal amount aren’t permitted under the Florida State Pawnbrokers Act.

Final Tips

While this guide offers simplified insights, we encourage you to visit TBGoods Pawn and consult with our associates for comprehensive information on collateral-based loans. Being well-informed can save you time, money, and hassle in the future. Rest assured, TBGoods Pawn is always here to assist you in times of need!