Will My Items Be Safe When I Use Them As Collateral For A Pawn Loan?

One of the most common questions that we’re asked about the pawn loan process is, “Will the item that I use as collateral to secure the loan be safe & secure until I pay off the loan and get it back?”. The answer to this question is a resounding yes, your item(s) will be 100% safe with Empire Loan! When you bring in an item to use as collateral for a pawn loan, we will store it in our secure vaults and storage facilities until you pay back your loan! Each of our locations are equipped with state-of-the-art alarm systems and multiple security cameras, ensuring that your items and all the other merchandise in our stores will be safe and secure 24/7! After you receive a pawn loan from Empire Loan, you can get your items back by or before the end of the loan term by simply paying back the original loan amount (the principal) plus any interest and fees that have accrued at that time, all of which will be explained to you when you first get the loan. If you are not able to pay back your loan by the due date, you may be able to extend or renew your loan by paying the interest and fees that are due at that time. In any case, the item(s) you use as collateral to get a pawn loan will be completely safe until you default on the loan, at which point your item(s) will be foreclosed on and we will take ownership of them. If you have any questions or would like to learn more about the pawn loan process at Empire Loan, please don’t hesitate to contact us today by calling us at 1-800-375-PAWN or by filling out the contact form on our website!

What Happens If I Don’t Pay Back My Pawn Loan?

If you do not pay back the principal of your pawn loan plus the interest and fees that have accrued by the agreed upon due date, we will take ownership of the item(s) you used as collateral to secure the loan. The good news is that there are no other consequences for defaulting on a pawn loan, unlike with a bank loan. Your credit score will not be affected in any way by missing payments or defaulting on the loan! As mentioned above, if you can not pay back your loan in full by the due date, you may be able to get an extension or renewal on the loan. To learn more about the pawn loan process, or to get a pawn loan in Massachusetts or Rhode Island, please contact our team at Empire Loan today!

Contact Empire Loan!

If you have any questions about the pawn loan process, please do not hesitate to contact our team at Empire Loan! With eight locations across Massachusetts and Rhode Island, we’re proud to be New England’s most trusted & reliable pawn shop! Contact us today at our store that is closest to you or call us toll free at +1 (800) 375-PAWN!

Closest Public Transit

Bus Route 2, Lunds Corner

Closest Public Transit

Bus Route 14 to Stoughton

Closest Public Transit

Route 11 Broad St.

All Empire Loan Locations Have
New Summer Hours Starting
May 26th through August 31st!

Monday – Friday: 9 a.m. to 6 p.m. Saturday & Sunday: CLOSED

All Empire Loan stores will be CLOSED on Saturdays for the summer!