pawnbroker

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Pawnbroker

The owner of a pawn shop, which is a place where one may pawn an item or buy items other persons have pawned. When one pawns an item, one receives a loan and gives the pawnbroker (the pawn shop's owner) possession of the item. One may retrieve the item within a certain period of time if one repays the loan with interest. If the loan is not repaid, the pawnbroker may sell the item in his/her shop. Because the pawnbroker already has possession of the item, he/she does not report non-payment of the loan and it does not affect the borrower's creditworthiness.

pawnbroker

a person or firm that makes LOANS, taking temporary possession of borrowers’ personal ASSETS as security for the loan. Borrowers can reclaim their assets by repaying the loan and interest charges in full, although if they default the pawnbroker is entitled to sell their assets.
References in periodicals archive ?
Shares tumbled by another quarter yesterday in the wake of a torrid day for the group, which saw five of its six non-executive directors quit with immediate effect - leaving chairman and former chief executive Greville Nicholls as the only remaining nonexecutive at the pawnbroker.
There are several simple steps that jewellers and pawnbrokers can take to protect themselves from these risks, and ensure the items that they re buying are legitimate, as Geoff Knupfer, Chairman of the British Security Industry Association s Asset and Property Marking Section, explains:
In addition to needing to be duly licensed by the board of selectmen, every pawnbroker or secondhand shop owner will have to keep detailed records of every transaction, as well as a photocopy of a driver's license of the person involved in the transaction, according to the article.
The witness, 28, from St Mellons, who did not wish to be named, said: "I was pulling up at the lights outside the pawnbrokers and there was a car in front of me.
Critics may question this rose-tinted description, but Nichols insists pawnbrokers are shrugging off their shady reputation.
The Beeb footage was there for all to see on a website last week, with Mr Olley haggling over a deal for the Lanchester with one 'Gez' Pountney of Uncles pawnbrokers.
He started in retail jewelry, moving to the pawn business when he realized very few pawnbrokers had jewelry specialization.
50 recorded on January 3, 2011 - pawnbrokers began to buy old gold too.
IN the last year another four pawnbrokers have sprung up locally.
A preliminary inquiry by the TTD's vigilance authorities into Friday's incident revealed that Deekshitulu had mortgaged not one, but 12 ornaments with pawnbrokers and took loans worth over Rs 10 lakh.
Pawnbrokers have fared better than many in the current economic downturn, as cash-strapped citizens hock possessions.
The National Shooting Sports Foundation (NSSF) and the National Pawnbrokers Association (NPA) have announced a strategic alliance.