FAQs

Origination

A pawn loan is a very simple process. You, the customer, bring in something of value and we evaluate it and offer a loan amount based on many factors. Upon agreement we write a loan for that amount. To be eligible for a loan from Family Pawn you must have a valid State Issued photo ID and you must be at least 18 years of age By Missouri Law we cannot make a Pawn loan to any person who does not provide an ID. No credit checks or extensive paperwork to fill out. No waiting to hear if you qualify. You can walk out of the store in as little as five minutes with CASH IN HAND!

A Pawn Loan comes with certain rights and restrictions. It is important that you understand your rights and terms. Here at Family Pawn your loan is guaranteed for 90 days from the date of loan. If you make no service charge payments on your loan, then on day 91 your items are forfeited and now belong to Family Pawn. This will not affect your credit rating or your future ability to acquire loans from us.
Service charge payments are accrued every 30 days, or any part there of, from the date of inception. NOT EVERY CALENDER MONTH. Every time you make a service charge payment your expiration date will advance another 30 days from the inception date, not the date the payment was made. Every time you make a payment you must be provided with a payment sticker. The sticker will show the payment date and the new expiration date. Be sure to check these every time you make a payment. You must retain these for your records as payments made to Family Pawn.

Service Charge

Service charges are accrued on the loan every 30 days or any part there of. From the moment you get the loan, there is a service charge payment due to redeem. On day 31 of the loan a second service charge is accrued. On day 61 a third service charge is accrued and so on.

To make a service charge payment on your loan just stop by our store and we will take your payment and provide you with a receipt for the payment. We also have an online loan payment portal that you can use to make payments anytime. While we can process your payment over the phone or by mail, it is far better to come in person so we can give you a payment sticker. Service charge payments can be made with cash, check, money order, or credit card.

Redemption

To redeem your loan you will need to come to the store with your picture ID and payment for the redemption amount. We accept cash and debit cards for loan payoff. (Debit cards will carry a convenience fee of 3% for the principal.)

Once payment is received, your items will be brought to you and you will be asked to sign the redemption form. If the products are as described on the redemption form, then sign the form and your loan is complete and paid. If you have any questions be sure to ask them before signing the form. By signing the form you are acknowledging that you have received all your pawned items on that loan and have no objections.

Upon request you will be given a copy of the signed loan redemption. Thank you for choosing Family Pawn for your loan needs.

Family Pawn offers the consumer a quick, convenient and confidential way to borrow money. A short term cash need can be met with no credit check or legal consequences if the loan is not repaid. Our average loan amount is $60 and our average repay time is 27 days.

A customer receives a percentage of the value the broker believes the collateral would bring in a sale. Although the loan to collateral ratio varies over time and across pawnshops. In other words, pawnbrokers feel their loan is “paid in full” at the time it is made. When a customer pawns an item, terms of the loan are printed on a pawn ticket that is given to the customer.

If you need a $40 loan for 15 days you can usually be in and out of Family Pawn in under 10 minutes and you will only have to pay $47.50 to pick it up. They payoff process is usually completed in less than 5 minutes.

If a customer can not or chooses not to repay a loan then the property becomes “forfeited” and now belongs to Family Pawn.  

You don’t have to do anything.

There are no negative affects to your credit or your loan ability with us.

Less than one fifth of one percent of all collateral is even suspect as having been misappropriated in any manner. Thieves and robbers are Family Pawns worst enemy. Family Pawn works closely with local law enforcement to catch and prosecute these perpetrators. A customer must provide positive identification to show evidence of the transaction. This information is then presented to the police department electronically every night, therefore decreasing the likelihood that a thief would bring stolen merchandise to Family Pawn. Pawnbrokers are trained to look for signs of stolen property to avoid these costly mistakes. It is not in the interests of the pawnbroker to accept potentially stolen merchandise because the police can seize the merchandise and the pawnshop owner loses the collateral and the loaned money.

Maybe.  Family Pawn allows the original borrow to name other persons that may redeem their loan.  These names are written on the original loan slip that is in the possession of Family Pawn.  If you have been named by the borrower, then all you need is your ID and the ability to pay off the loan.

If you are not listed then you may NOT redeem a loan written in someone else’s name.

Yes.  Every time you make a service charge payment your loan is extended by another 30 day period from the original loan date (Not the date you make the payment).

Unfortunately no.  With over 75,000 loan customers we are unable to contact you before your loan expires.