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.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved

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.
Collins Dictionary of Economics, 4th ed. © C. Pass, B. Lowes, L. Davies 2005
References in periodicals archive ?
Down the road was Greenwoods the pawn brokers and across the street was Reeds clothes shop and the Zetland Club.
"The response from the community was positive and officers also visited pawn brokers to liaise with them about stolen property.
To get into the rummage sale at Fairfield Church Hall,L7, cost 2pand a diamond eternity ring from Miltons pawn brokers cost around pounds 20.
And it is even more unbelievable that, despite the negative publicity surrounding payday loan firms, the OFT has said that payday loans and other high-cost credit businesses - such as pawn brokers or home-credit lenders - should not have their interest charges restricted.
Coventry Crown Court heard that in one case the 28-year-old went to a pawn brokers in the city centre with items which had been taken from a home less than an hour earlier.