The crisis has revived forms of loan already well-known six centuries ago when the pledge was the most well-established methods to get money in exchange for precious objects that were, in fact, engaged. It appears that this method so old is returning all the rage among those who need cash in a very short time and can not wait for the bureaucratic process of banks. The pledge, then, is supplanting traditional loans with as many as 30 thousand operations performed per month , substantial numbers are decreeing that even the lack of success of the famous shops buy gold where, unlike the pawnshop, you can not regain possession of the property.

But let’s see specifically how the pledge . According to article number 2784 and following of the Civil Code , a token is defined as the delivery of an item in exchange for money disbursed immediately. The same object involved will regain possession of the original owner if they, within a preset time, pay to the pawn shop the sum previously paid initially increased by the interest which, incidentally, may be responsible for up to 18%. An expert of the bank assesses the value of the property offered. This can be valuable, the price of which is simpler, or other items such as furs, paintings, carpets. This loan will never covers the ‘ full value of the object , but about 80% in the case of precious and 50% in the case of objects that are not considered as such.

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To get the loan is not conducted other investigations, just as a guarantee that the object itself is at the counter of the pledge. At the time of the exchange, the customer is issued a policy with all the terms for the return of the goods involved. Usually the maximum time is six months , with the possibility of renewal, after which the customer can reclaim the object involved unless the same has not yet been put to auction . In this case, however, the customer Livonia his good will match the amount that has been offered at the beginning, all the interests as well as those provided by default for the excess time beyond 6 months.

However, if the item being auctioned, and the winning bid is greater than the money owed ​​to the bank (object value, fees and auction fees), the surplus is given to the first owner of the object. That fact, however, occurs very rarely since it was the rods are seen as the moment in which to buy goods in value much lower prices than normal.