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How do you pick a pawn shop?

I pawn a $4000 professional camera february 21,2008 for a $500 loan, I made payments of $100 every month and s?

  • I pawn a $4000 professional camera february 21,2008 for a $500 loan, I made payments of $100 every month and sometimes $300 when I came a day late. I went to pick my camera up on August 31st and was told it was sold on August 21st because of a late fee that was not paid when I paid my monthly payment in July. I was told that my camera was taken out of pawn on August 20th and sold. I am very upset and want to know do I have any legal ground to stand because I have paid the pawn shop $3000 and now they have sold my $4000 camera and all I got was a $500 loan this seems like robbery!

  • Answer:

    That's the chance you take when you pawn something. Better luck next time.

Ernie D at Yahoo! Answers Visit the source

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That's life. Legal grounds? Are you serious? Gah..... You agreed to the terms and did not live up to them. Next time pay attention. You're pawning things for $500...how do you expect to file a lawsuit that costs tens of thousands, only to be laughed out of court?

If you kept all your receipts, check with your state's attorney general's office. Most states have what are called usury laws which limit the amount of interest that can be charged on an account. If you really paid $3,000 for a $500 loan, there is a good chance that if you live in one of the states with a usury law, you have been overcharged and are entitled to some form of compensation.

You have to read the fine print of the contract. I doubt the pawn shop violated the law.

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