« Your Next Job Interview – Via Webcam? | Home | IPhone App Developer Customizes Various Apps, Games to Social Networking Sites »
Atlanta Pawn Shop Sees Surge in Blue/White Collar Customers
Times are tough all over the world and an Atlanta pawn shop is seeing its fair share of new customers of all ‘collar colors’. Blue-collar workers and white-collar workers are both being laid off due to the downward economy and they all seem to need quick cash to pay for everything from mortgages to school supplies or food and gasoline.
Instead of the chronically unemployed or underemployed, a Boston pawn shop now sees an increase in people who only a year ago had stable jobs and were on more solid ground than they are today. These people had decent jobs and a little money left over at the end of their paychecks. But as the economy slowly slid into an uncontrollable spiral, these good people were dragged down with it, leaving them scrambling to pay the bills. Many of these people turn to their neighborhood pawn shops for extra cash.
More people are becoming desperate for cash when they can’t find a way to make ends meet so they turned to a Philadelphia pawn shop to sell their gold jewelry or pawn items they no longer use but hopefully one day might return to use them again; items like air compressors, professional grade drills or power saws all pawned by out-of-work construction builders.
Although it may not seem to make much sense, people like the construction workers, pay a monthly fee in order to keep their valuables from being sold on the pawn shop floors. A pawn shop works one of two ways. The first is a person will take a valuable item, such as a laptop into the pawn shop, present their photo ID and walk away with cash. The pawn shop will then hold the item for a period of 30 to 60 days and when the owner of the laptop returns, they pay a 3% interest penalty along with the original amount of money borrowed and they receive their collateral back. If the customer does not want their items back, then the pawn shop is free to place the valuable on their sales racks in order to recoup the loan money.
Leave a Comment
You must be logged in to post a comment.