Last year, I realized that a few of our employees did not have the best intentions when they came to work. It seemed like their goal was to slack off and avoid work, and it was really frustrating. I realized that I had to do something in order to make things right, so I started working with them to train them. I also installed a camera system and explained the consequences of their actions. Within about six months, we were able to completely overhaul things, and it made a huge difference. This blog is all about keeping employees productive and on track, so that you can keep your company viable.
Economic hard times can hit anyone at anytime. Sometimes people are caught completely unaware and have to use whatever means they can to raise money to pay the bills. One way to raise money for things you might need during the day is to take a valuable possession like a diamond ring you own and use it as collateral for a short term loan with a pawn shop. However, here is why you should visit two or more pawn shops before you use your diamond ring as collateral on a loan.
Think of a pawn shop as a bank or a credit union. They both charge an interest rate on the money customers borrow and they both use interest rates to entice customers to take out a loan. If you live in an area where there are multiple pawn shops, take your ring to at least a couple of them so they can inspect it and let you know how much they'll charge you in interest rates and fees. The rates and fees can vary among local pawn shops just like they do between banks and credit unions.
You should have a good idea of the intrinsic value of any possession you use as collateral for a loan – including the diamond ring you intend to pawn. You can get a fairly accurate estimate of the value of the ring when one or more specialists experienced in estimating diamond values can inspect your ring – and the quickest place to find those types of specialists is at pawn shops like Woodland Money Loan. If you take your ring to several locations, you will get an independent valuation of your ring based on its immediate lending value (which will typically be significant less than its fair market value than a jeweler might have appraised it for previously) under your current circumstances. You'll also know who will give you the most money right away to help buy food or pay a bill.
Change of Possession
You are usually given a specific number of days to pay off your loan and take back your possession from the pawn broker. If you fail to pay back the loan in time, the pawn broker takes legal possession of the item and will sell it to recover the money that is still owed to them. However, not all pawnshops have the same type of policy – some will let you extend the terms to give you more time to pay off the loan (although, this could also come with a late payment charge).