If you ever find you need cash fast to pay bills and you are worried about sharing your credit details, you may want to consider obtaining a loan from a pawnbroker. Doing so can relieve a lot of stress and worry about any impending debt.
If you opt to take out a loan, the item you pledge is called your collateral. Therefore, you do not have to go through a lengthy credit check, nor do you have to be subjected to a long interview like you may expect at a bank.
How to Obtain a Pawnbroker Loan
You need to take the following steps if you use local pawnbrokers in Dagenham to obtain a loan:
- Pledge an item or items – pawnbrokers accept all kinds of items.
- Arrange a flexible payment plan with the pawn shop for repayment. The shop will keep your item or items in safekeeping whilst the loan and interest is repaid. You have up to seven months to repay the loan.
- Pick up the pledged items when you pay off the loan.
Sell Your Unwanted Gold or Silver Jewellery
Besides taking out a loan at a pawnbroker, you can also sell your old or unwanted gold or silver jewellery at the same place. This is the ideal way to obtain quick cash without worrying about repaying the money.
All you have to do is bring in your scrap gold or silver jewellery and have a valuation made at no cost to you. The quote you receive will depend on the item’s quality and weight. Gold is bought in any condition, so you may have items at home that are more valuable to you than you think.