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Need Fast Cash? Quick Loans in Chicago are the Answer
by alex | on Jul, 2013 | category Jewelry | No Comments
Many families are living on the edge in America. There credit cards are maxed out and they have a bad credit score, when they need Quick Loans Chicago they turn to their neighborhood pawn shop. Since the loan is secured with personal property, their bad credit won’t count against them. They also don’t have to worry about the loan being reported on their credit report. All loans with a pawn shop are completely confidential.
People who have had a bad experience with a payday loan company, because they couldn’t pay the loan back, don’t have to worry. The pawn shop will only lend money that can be replaced by the value of the pawned item. So if the borrower does default on one of their quick personal loans, the pawn shop simply keeps the pawned item. There are no threatening phone calls and black marks on their credit report.
While the interest rate charged by a pawn shop may seem high, it can save the borrower from having to pay an even larger late fee on their utility bill. If the utility service is cut-off because of failure to pay, there is also a large re-connection fee. Usually these Quick Loans Chicago are short-term loans that are due in 30 to 60 days. This gives the person time to reorganize their finances or to find a part-time job to get the cash. However the lights stay on, the car gets repaired, or a child gets the medicine they need.
When people are looking for items in their house to pawn, they should look for items that hold their value and are easily stored. Gold or silver jewelry are the perfect items to pawn. Married couples might take a good look at their wedding gifts. A sterling silver tray or crystal vase might also be a good option. Collectors can also consider pawning part of a sports memorabilia collection or a prized action figure. Unlike payday loans that are limited by the borrower’s loan history and monthly income, a pawn shop loan is only limited by the value of the item being pawned.