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The main drawback to these loans it that if you fail to pay them back, the pawn shop has the right to sell your item to recoup their losses. Another downside is that the amount of the loan is usually a fraction of the true worth of the item pawned. Youre risking the loss of something valuable for a little bit of quick cash. Pawn shop loans in Waco can be no longer than 30 days. But interest rates can be as high as 240.
(6) With high interest rates, paying back these short-term loans can be extremely difficult. There are other options.
Representative 18. 23 APR. ARE THERE ANY FEES. Our services will always be provided free of charge, but that is not to say that the lender will give you a loan for free. Your lender will charge you fees andor interest and must provide you with full disclosure of their loan terms upon approval. It is then your responsibility to read through the terms before signing your loan agreement. WHAT IF I NEED TO MAKE A LATE PAYMENT. Late Payment penalties differ from lender to lender.