FAQ | Sterling & Knight Jewelry & Pawn
If you need quick money & don├???├??├?┬ó??t want to sell your item, you have the option to pawn it rather than selling. With a pawn you use your item as collateral and exchange it for cash. The item is stored with the pawn shop (in a secured vault) until the customer redeems it according to the terms agreed upon, or the pawn contract defaults. A typical pawn may have a term length of 30 days plus a 30-day grace period. If you cannot pay back your paw in full (including any applicable grace period) we offer extensions/renewals to give you extra time in which case you also have the option of just paying the service fee & extending the pawn another 30 days. If the pawn is not repaid on time, including the interest and pawn service charges, the pawn broker can take possession of the item & can legally sell it. The benefits of a pawn are: 1. It is a quick, easy and safe way of getting a cash advance. 2. You do not have to pay it back. If you decide not to repay, there are no negative consequences. You have simply just sold us your item.
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