Pawn Loan policy

Aaron Signature & Co. pawn policy in harmony with The Ontario Pawnbrokers Act.

WHAT WE DO FOR YOU

  • Encourage loan repayment.
  • Support return of pledges not loan settlement with pledges.
  • Issue reminders for status of your loan.
  • Accept anytime advance payments to reduce your total loan cost.
  • Last month interest charge only to repayment date.

 

LOAN ISSUE PROCEDURE

  1. Authentication

Complimentary assessment performed.

  1. Valuation

Maximum loan value determined.

  1. Acceptance

Customer must first read and agree to loan terms.

 

PAWN LOAN TERMS

  • Minimum 1 month loan charges
  • Maximum 12 month loan term
  • Interest five percent monthly (sixty percent APR)
  • Cost to borrow $100 is $5 (first month interest)
  • Additional fees $0.20 for pawn ticket and $0.10 per month storage
  • You have up to 1 (one) year to make your payment in full including principal plus all accumulated interest and fees.

 

PLEDGE REDEMPTION PROCEDURE

  • Original Pawn Ticket In Person
  • Government-Issued Photo ID
  • Total Loan Cost Interest & Charges
  • Pay Total In Full Cash Only
  • Pledge Returned To You

 

LOAN SETTLEMENT PROCEDURE

  • First notice given for unpaid loans 365 days after date of issue.
  • Public notice posted 15 days after first notice issued.
  • Pledge becomes absolute property of Aaron Signature & Co. as full settlement of loan 15 days after public notice posted.
LEGAL REQUIREMENTS:
  • Only Lawful Owner Can Pledge
  • All Loans Issued In Person
  • Customer Must Be 18 Years Of Age
  • Government-Issued Photo ID Mandatory
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