Mike's Pawn Shop LLC

Hello.
First I would like to thank the Revdex.com and Ms. [redacted] for taking the time to address this matter with me.
I truly understand how this can be frustrating and personally work to see that my customers...

needs are taken care of. I spoke with her a few days after reading the complaint and explained how it was possible to receive a late notice on 3 tickets at the same time and she thanked me for explaining it to her. I have received this question a few times in my 26 years in the business as a pawnbroker. Pawnbrokers are governed by state law, the Pawnbrokers Act, and strict regulation is enforced. We have a set price that we are allowed to charge by law. There cannot be any hidden fees or extra charges. It would be against state law. Oversight is actually stricter than a bank. Sometimes is not understood how a loan can come due at the same time as loans done previously. The reason is simple. The forfeit date is set when the notice is sent 2 months after the loans origination giving the loan another month for a total of 3 months. The notices are mailed once a month, therefore, any loan that comes due between the two mailings are going top get extra time before the forfeit date is establish, some loans actually get 1 month extra. In that time a payment can be made to extend the loan. This way we can send the notices to allow for a more convenient time for our customers to make the payment. We make sure it is after the first of the month and on a friday for the benefit of the customer so they will not lose their merchandise. The only way to avoid this is to pay the loan payment monthly and avoid the payments from accumulating.

Of course, if anyone would have any questions, I would be glad to talk with them. My number is 614-475-[redacted] 
 Thanks,

Hello.First I would like to thank the Revdex.com and Ms. [redacted] for taking the time to address this matter with me. I truly understand how this can be frustrating and personally work to see that my customers needs are taken care of. I spoke with her a few days after reading the complaint and...

explained how it was possible to receive a late notice on 3 tickets at the same time and she thanked me for explaining it to her. I have received this question a few times in my 26 years in the business as a pawnbroker. Pawnbrokers are governed by state law, the Pawnbrokers Act, and strict regulation is enforced. We have a set price that we are allowed to charge by law. There cannot be any hidden fees or extra charges. It would be against state law. Oversight is actually stricter than a bank. Sometimes is not understood how a loan can come due at the same time as loans done previously. The reason is simple. The forfeit date is set when the notice is sent 2 months after the loans origination giving the loan another month for a total of 3 months. The notices are mailed once a month, therefore, any loan that comes due between the two mailings are going top get extra time before the forfeit date is establish, some loans actually get 1 month extra. In that time a payment can be made to extend the loan. This way we can send the notices to allow for a more convenient time for our customers to make the payment. We make sure it is after the first of the month and on a friday for the benefit of the customer so they will not lose their merchandise. The only way to avoid this is to pay the loan payment monthly and avoid the payments from accumulating. Of course, if anyone would have any questions, I would be glad to talk with them. My number is 614-475-[redacted]   Thanks,