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How Do Pawnshops Work?

A pawnshop is a store or form of business that lends money to consumers who carry valuable to items to be pawned, and these items are referred to as "collateral".  The collateral can only be retrieved after the loaned money and interest have been repaid. In the instance that the borrower fails to repay the pawnbroker's loan and interest within the agreed-upon time frame, the pawnbroker can now sell the valued object to another buyer to recoup the money they loaned.  Pawnshops also provide m


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