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 ?
When police were investigating the burglaries they went to a pawn brokers in Coventry city centre and discovered some of the items, mostly jewellery, had been sold on a number of occasions from Nuznyi.
25pm, Nuznyi was seen at the pawn brokers selling a gold sovereign ring taken from the property.
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.
But staff at Milton's jewellers and pawn brokers managed to work by battery-powered lanterns.
Police are now urging members of the public and second-hand jewelers and pawn brokers to be vigilant and if they see the distinctive chain, which is particularly large in size, to contact police as soon as possible.
As part of their agreement with the state, the Barkleys will allow officials to inspect their business for compliance with Oregon's pawn broker law.