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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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