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Scranton pawn
shops are a good source of short-term loans and payday loans for those
in need of immediate cash. They
also offer discount merchandise (pre-owned items that were put up as
collateral toward a loan that was defaulted on) for sale to the public.
The newest
service offered by Scranton pawn shops would be payday loans. Although there are several
specific locations offering payday loans, pawn shops have become great
sources of these loans as well. How
does a payday loan work? Basically,
it is an advance on your paycheck.
You are required to present a pay stub and
your personal information into the pawn shop, and they run a quick
credit check. Then,
based on your paycheck and the requested amount, the pawn broker will
sign off on payday loans.
These easy to
get payday loans will be at a high interest rate (much higher than a
standard bank loan, sometimes in excess of 18%), and it will be
required to be repaid within a set period of time (usually 30 days from
the date the payday loan originated, assuring that the borrower will
receive at least one paycheck by the time the loan repayment is due). There is also usually a
flat fee involved in such payday loans at Scranton pawn shops. Often, the lender will
offer an extension for the price of an additional lending fee in the
instance the payday loan cannot be remitted in the designated time
period.
There
are several Scranton pawn shops who offer short-term collateral based
loans. For payday
loans, check with individual pawn shops for policies and requirements. You may want to try
Steamtown Trading Post on Wyoming Avenue or Main Street Trading Post on
Main Street in Wilkes-Barre. For
purchases of pre-owned merchandise, try one of the two East End
Liquidation locations (one on Kidder Street in Wilkes-Barre and the
other on East Main Street in Plymouth).
New!
Online cash advances now available
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