A collateral loan is the simplest kind of borrowing there is. You bring in something you own, we tell you what it is worth, and you take a percentage of that in cash. We hold the item. You hold the ticket. When you pay the ticket, the item comes straight back out of the vault.
Nothing about it touches your credit file. We do not run a check, we do not report to any bureau, and if you never come back, the item covers the loan and that is the end of it. There is no debt left over and nobody will call you about it.
The ticket shows five things: what the item is, what you received, the monthly finance charge, the total to redeem, and both key dates. All of it is printed and read to you before anything is signed. If a number on that ticket is not clear, ask — nobody here works on commission, so there is no reason to rush you.
