i8yrvpr Posted April 4, 2009 Report Share Posted April 4, 2009 Hello all, Want to bring to your attention bill s-500 that will put all pawn shops in the country out of business. I own 3 shops in Western NC and I cannot tell you how devestating this will be not only to me but to the thousands of people who depend on my shops for loans. I am a second generation pawnbroker and it is the only profession I have ever had. I don't know if any of you have experience with pawn shops, but they are not the dark seedy places that you see on tv. One of my shops is over 8000sq ft and looks like any other upscale retail store you would go into. My customers now more than ever depend on me to loan them money for gas, food, medecine and other essentials when they are inbetween checks or strapped for cash. There is no bank out there that will loan someone $50 for a week to buy groceries. Politicians have no clue what they are proposing. PLEASE visit www.savemypawnshop.com and add your name to the growing list of people that are outraged by yet another attempt by our government to interfere with something and cause way more harm than good. Thanks for your time and your support. Dan Link to comment Share on other sites More sharing options...
svttim Posted April 5, 2009 Report Share Posted April 5, 2009 Done Link to comment Share on other sites More sharing options...
stormeaston Posted April 5, 2009 Report Share Posted April 5, 2009 This is only the begining my friend. Link to comment Share on other sites More sharing options...
JeffIsHereToo Posted April 5, 2009 Report Share Posted April 5, 2009 Hello all,Want to bring to your attention bill s-500 that will put all pawn shops in the country out of business. I own 3 shops in Western NC and I cannot tell you how devestating this will be not only to me but to the thousands of people who depend on my shops for loans. I am a second generation pawnbroker and it is the only profession I have ever had. I don't know if any of you have experience with pawn shops, but they are not the dark seedy places that you see on tv. One of my shops is over 8000sq ft and looks like any other upscale retail store you would go into. My customers now more than ever depend on me to loan them money for gas, food, medecine and other essentials when they are inbetween checks or strapped for cash. There is no bank out there that will loan someone $50 for a week to buy groceries. Politicians have no clue what they are proposing. PLEASE visit www.savemypawnshop.com and add your name to the growing list of people that are outraged by yet another attempt by our government to interfere with something and cause way more harm than good. Thanks for your time and your support. Dan Sorry, while I may sympathize with the person that needs "$50 for a week to buy groceries" I have NONE for you, your industry, or by extentions the other PayDay and Title loan companies. Nice car by the way! Link to comment Share on other sites More sharing options...
svttim Posted April 5, 2009 Report Share Posted April 5, 2009 Sorry, while I may sympathize with the person that needs "$50 for a week to buy groceries" I have NONE for you, your industry, or by extentions the other PayDay and Title loan companies. Nice car by the way! You have sympathy for those that choose to beg borrow or steal from everyone including our government but not for those who make an honest living and take responsibility for themselves. I am without work yet, I can avoid the payday loan people! And to lump a pawn shop into the same group is pay day loans is assinine. Pawn shops buy at wholesale and sell at retail. No different than Wal-Mart or any retailer. A lot of people unload stuff at a pawn shop. I agree, the Payday loan places are a rip off. But, no one forces anyone in the doors there. Link to comment Share on other sites More sharing options...
JeffIsHereToo Posted April 5, 2009 Report Share Posted April 5, 2009 You have sympathy for those that choose to beg borrow or steal from everyone including our government but not for those who make an honest living and take responsibility for themselves. I am without work yet, I can avoid the payday loan people! And to lump a pawn shop into the same group is pay day loans is assinine. Pawn shops buy at wholesale and sell at retail. No different than Wal-Mart or any retailer. A lot of people unload stuff at a pawn shop. I agree, the Payday loan places are a rip off. But, no one forces anyone in the doors there. What?!?! Where did you get all that from? When you say "those that choose to beg borrow or steal from everyone including our government but not for those who make an honest living and take responsibility for themselves" remember these the same people that the OP wants us to feel sorry for as a justification for him to make $$$? But we can agree to disagree! I think ANY organization that seeks to make money off the plight and unfortunate circumstance of others has a lot of gaul in turn asking for sympathy and help. I would rather see people turn their attention to providing programs that put people back to work and solve the real issue and not saving pariah industries such as this. I think circumstance and poor education and understanding of what these loans really are (400+%) "pushes people through the doors" and while I can see the other side of the argument, and agree with statements such as, "where else can these people go", I think that is the issue! The fact that these people, in this economy, have no other, or think there is no other, avenue to help them weather this climate, other than a 400% loan says more about our society and social programs than the pawn shop industry. When there is a hole in the social fabric there have always, and will always be those, who sweep in to "fill the gap" while making a lot of money doing it! That said, I am less concerned with pawn shops than PayDay Loans and Title Loans which were actually the intended target of the proposed legislation however the above two groups are using the fervor over pawn shops as a way to kill the proposed legislation while deflecting attention away from themselves. So the REAL question here for everyone and the OP is how do you propose we deal with these crazy interest rates of PayDay Loans and Title Loans? What about your own credit card that for no reason this month shot up from 10% to 29%? It's all the same pot just different segments and channels what is a fair interest rate and what is predatory? If you don't think we should care and it's "buyer beware" then fine, we can agree to disagree! Link to comment Share on other sites More sharing options...
svttim Posted April 5, 2009 Report Share Posted April 5, 2009 What?!?! Where did you get all that from? When you say "hose that choose to beg borrow or steal from everyone including our government but not for those who make an honest living and take responsibility for themselves" are these the same people that the OP wants us to feel for as a justification for him to make $$$? But we can agree to disagree! I think ANY organization that seeks to make money off the plight and unfortunate circumstance of others has a lot of gaul in turn asking for sympathy and help. I would rather see people turn their attention to providing programs that put people back to work and solve the real issue and not saving pariah industries such as this. I think circumstance and poor education and understanding of what these loans really are (400+%) "pushes people through the doors" and while I can see the other side of the argument, and agree with statements such as, "where else can these people go", I think that is the issue! The fact that these people, in this economy, have no other, or think there is no other, avenue to help them weather this climate, other than a 400% loan says more about our society and social programs than the pawn shop industry. When there is a hole in the social fabric there have always, and will always be those, who sweep in to "fill the gap" while making a lot of money doing it! That said, I am less concerned with pawn shops than PayDay Loans and Title Loans which were actually the intended target of the proposed legislation however the above two groups are using the fervor over pawn shops as a way to kill the proposed legislation while deflecting attention away from themselves. So the REAL question here for everyone and the OP is how do you propose we deal with these crazy interest rates of PayDay Loans and Title Loans? What about your own credit card that for no reason this month shot up from 10% to 29%? It's all the same pot just different segments and channels what is a fair interest rate and what is predatory? If you don't think we should care and it's "buyer beware" then fine, we can agree to disagree! I have no issue with govenment oversight on interest rates that can be charged on credit cards or payday loans. I think anytime you pawn something, you have to realize, your not going to get retail value and, you have the choice to sell or not. I dont see how the government can put a value on something. Thats what the market is for. I dispise the payday types. I think they prey on the weak. But, I dont think our government has the right to legislate them out of buisness Link to comment Share on other sites More sharing options...
JeffIsHereToo Posted April 5, 2009 Report Share Posted April 5, 2009 I have no issue with govenment oversight on interest rates that can be charged on credit cards or payday loans. I think anytime you pawn something, you have to realize, your not going to get retail value and, you have the choice to sell or not. I dont see how the government can put a value on something. Thats what the market is for. I dispise the payday types. I think they prey on the weak. But, I dont think our government has the right to legislate them out of buisness I think we mostly agree. I'm not sure what to do about pawn shops but that's something for their lobbyist and trade association to work with the staff on when drafting the version of the bill that actually, if it ever, goes to a floor vote. Right now the pawn shops are pawns of the PayDay and Title Loan sharks seeking to use them as justification to stop this legislation as no one feels bad for them! We'll have to see how it all shakes out I guess! Link to comment Share on other sites More sharing options...
Recommended Posts
Archived
This topic is now archived and is closed to further replies.