Loan Fees and Privacy Policy
Per California Financial Code (CFC) 21203, the term “month” means a period consisting of 30 consecutive calendar days.
Interest Charge: One month’s interest may be charged for any part of the month in which pawned property is redeemed. Including the 10-day notice (“grace period”) Required under CFC §21201. For the first three months the total interest charges on loan amounts of $.01 to $19.99 = $3.00 interest charge. Loan Amounts of $20.00 to $49.99 = $6.00 interest charge. Loan amounts of $50.00 to $74.99 = $9.00 interest charge. Loan amounts of $75.00 to $99.99 = $12 interest charge. Loan amounts of $100 to $174.99 = $15 interest charge. Loan amounts of $175.00 to $2,499.99 = 9% of the loan amount, per CFC §21200 5. Starting the fourth and subsequent months the total interest charges are: loan amounts of $.01 to $100 = $3.00 per month. Loan amounts more than $100 = 3% of the loan amount per month, per CFC §21200. On loans of $2,500 or more, the interest rates are not regulated and can be negotiated between the client and the pawnbroker. State loan period, all fees, and notice requirements apply, per CFC §21051.
Loan Set-up Fee: $7.50 may be charged for each loan written or 3.5% of the loan amount, whichever is greater with a maximum of $90.00.
Storage Charges: $3.00 for any article that can be contained within one cubic foot. $6.00 for any article that cannot be contained within one cubic foot but can be contained within three cubic feet. $12.00 for any article that cannot be contained within three cubic feet but can be contained within six cubic feet. $24.00 for any article that cannot be contained within six cubic feet and $3.00 for each additional cubic foot in excess of six cubic feet.
LOST TICKET VERIFICATION FEE: Maximum of $10.00 may be charged for each lost ticket per CFC 21201.2
FIREARM CHARGE: $20.00 may be charged for any firearm per CFC §21200.8. Firearms will be released only to the borrower and proper identification will be required. No firearms will be shipped per CFC § 21200.8.
LOAN CHARGES THAT DO NOT INCLUDE HANDLING OF PLEDGED PLEDGED PROPERTY OUTSIDE OF OUR PREMISES, SHIPMENT OF PROPERTY IS DONE SOLELY AT THE DISCRETION OF THE LENDER AND AT LENDER RATES. Minimum charge for packing is $10.00 plus shipping and insurance if desired.
RIGHT RESERVED TO CORRECT CLERICAL ERRORS: This contract is the entire agreement. There are no other terms. Any changes must be in writing. This is a single term contract for four months. At redemption, a new loan may be issued or granted at the Lender’s discretion.
In consideration of and to secure the amount identified as the Total of Payments. Borrower hereby deposits with the issuer of this loan contract. The borrower represents and warrants that the pledged property is not stolen, rented, or leased. Borrower also attests to be 18 years of age or older and not acting as an agent for another person. Borrower warrants that all personal information has been removed from the property being pledged. This includes but is not limited to personal information stored on computers, laptops, cell phones and tablets. If borrower fails to remove his or her personal information on property being pledged, Pawnbroker shall not be liable for any unforeseen or inappropriate use of it.
The borrower reserves the right to 24 hours notice of intention to redeem:
Collateral may be redeemed at any time during the period defined above or during the “grace period”. For redemption, the borrower will be required to pay in addition to the amount loaned all interest and fees as outlined in the schedule above. Partial payment does not extend the loan period. If collateral is not redeemed in the four month loan period, then Lender shall notify the Borrower by regular mail for which a certificate of mailing is issued by the United States Post Office, addressed to the Borrower’s last known address– of termination of the loan contract and extending the right of redemption for a period of 10 days from the date of mailing such notice per CFC §21201. Borrower shall notify Lender in writing, by registered mail, of any change of address, if writing for information give number of this receipt and enclose postage if a reply is to be expected. If collateral is not redeemed within the periods provided herein, the Lender will become vested with all rights and title to the property submitted as collateral.
The description on reverse side is based on a quick visual inspection. Lender does not warrant that the pledged property is of exact size,, dimension, weight, carat, color, cut, or value or any other characteristic set forth herein. Unless specified, pledged property described is used, having normal wear and tear with scratches and dents. It is agreed and understood that the Lender does not insure collateral for the benefit of the borrower and it is not liable for loss or damage to the property resulting from burglary, theft, embezzlement, robbery, moths, fire, water, and deterioration from handling and storage. OR Acts of God or other causes. Lender shall be liable only when a loss is directly attributable to the Lender’s gross negligence or willful misconduct. If the Lender is found liable to the borrower as liquidated damages, the Lender shall not be liable for more than two times the amount loaned.
BANKRUPTCY EXCEPTION— As a nonrecourse loan, borrower understands and agrees that this Contract and any renewal made under it together with the pledged properties and remains exempt from bankruptcy pursuant to to Title 11 of the United States Code, Section 541(b)(8). Trustee timely exercise the right to redeem the pledged property prior to expiration of the Grace period specified herein.
The parties hereto agree that if any clause of this contract is held unconscionable, contrary to law, ore in any other manner unenforceable, the balance of the contract shall remain in full force and effect. In the event legal action is necessary, the prevailing party shall be entitled to receiveand recover reasonable attorney fees.
Borrower acknowledges receipt of copy of this loan agreement and agrees to and understands that the lender is authorized, and lender’s discretion, and according to lender’s terms, to deliver the pledged property to any person presenting the borrower’s copy. When it appears to be signed by the borrower, along with the full amount due, and that the lender is not liable to borrower for any losses sustained by borrower resulting there from. Firearms will be released only to the Borrower and proper identification will be required. NO FIREARMS WILL BE SHIPPED. NO SPOUSE MAY ACT AS AGENT FOR BORROWER.
Customer Privacy Notice: We collect nonpublic personal information about you as a consumer, customer, or former customer from the following sources: information we receive from you on our pawn forms, loan documents, sales documents, or other forms, information about your transactions with us, our affiliates, or others. We do not disclose any non-public information about our customers or former customers to anyone. Except our affiliates and as permitted by law. We restrict access to nonpublic personal information about you to those employees who need to know that information to provide products or services to you.