Over the financial crisis there has been a resurgence in the number of pawn shops on the high street. This rather old fashioned “pawn” store is a place where you can sell your high worth items such as jewellery for cash. But more than that…there is a loan…where if you repay the money you can rebuy your lent item.
Payday loans are somewhat equivalent to the pawn shops of yesteryear where short term loans enable borrowers very short loans of the order of days, weeks or months. So could the pawn shops days be numbered once again?
