There are a lot of people today that cannot get a loan, credit card, or anything along those lines. You may be one of them, and it’s a difficult matter to process. More than ever before, people can’t seem to get out from under negative credit reporting, and numbers.
There is hope for a brighter future, and it’s not found with payday lending as some people may think. It’s found with pawn solutions. There are several reasons why this trumps other solutions, and you may find out that you can get a lot more from this option than any other financial resource.
Before getting into the reasons why you should go with pawn shops, you may want to know why payday lending and other resources aren’t as great as you may think. The biggest issue with them is that you’ll have to deal with a high ratio of interest. Interest rates from short term lending solutions like payday loans could be upwards of several hundred percent, and that’s more than three times or even ten times what you may get from a credit card.
That’s no fun, and can trap you into a cycle of debt, collections, and more. If you aren’t keen on that, you may want to consider another route, which is why pawning may be up your alley. There a few reasons to go this route, and they include the following.
No Credit Check
First and foremost, when you go to get a loan, you’re going to get credit check. That’s just a standard that most banks and credit resources look for. That’s not a bad thing at times, but if your score is not that great, you’re going to end up dealing with a decline. Declined applications mean that you will not get money that you need, and it will reflect negatively on your score, brining it down even further. People get declined all the time, and they get their scores dropped for another percentage point, and could even be detrimental for some time.
When you go to a pawn solution, you will not have to get a credit check. Instead, you’re going to be able to move forward with getting money in two different ways. In this case, lending is a good option as it will help you get money today, without having to have good or decent credit. In fact, the shop will not even look to see if you have a credit score, as they are not concerned with that.
The allure of payday loans is that you can get money fast. But they don’t tell you that it could take upwards of 24 hours. That’s right, you could be waiting 24 hours for your money, and that’s no fun at all. If you want to get faster money, you will no doubt want to look into a pawn solution.
You’ll be able to get money within a shorter span than 24 hours. In fact, as soon as you get your items to the solution you choose, you can get paid out within an hour or less. As soon as your items are appraised, you’ll be given a solution of a loan that you pay back or cash outright. This is far more versatile than any other solution that you can pursue, making it a great overall option to consider.
At the end of the day, the above reasons are just two major things to think about. Whether you have gold, silver, or other jewelry options, or you have something of great value, pawn it. You’ll find you can get more money, faster, than trying to get a loan or sell to another solution.