Proceeding

How a credit agreement is entered?

You are at least 18 years old and, presenting Your ID-card or a valid passport, bring in a pledge, wich You declare as Your property. This will be immediately estimated. You then will be paid out the obtained sum in chash and receive a pawn ticket. You also might authorize a person You trust in to pawn Your property. In a case like this Your authorized representative has to show, together with his own ID-card, a power of attorney signed by You as well as a fotocopy of Your ID-card.

Wich objects we accept as pledge?

We lend money on every object of value as security. Along gold, silverware, jewellery and high quality watches we also accept modern technical equipment such as hi-fi or TV-sets. Beside this we are delighted to lend money on digital foto equipment, DIY-equipment, household items, porcelain and many more.

For how long a loan runs?

Loans relating to pawned items run, as laid down by Government, at least for a time of three months. After another month pledges are to be liquidated by sale auction. You have therefore at least four months time to redeem a pledge or to extend the credit agreement.

How much does a loan relating to pawned items cost?

Per month there is calculated 1% interest of the amount of money loaned. Additionally there is a charge for expenses incurred through the storage of the pawned item as well as for insurance cover, wich results from the amount of money loaned. Interest and charge rates on loans relating to pawned items were laid down by Government in the pawnbrokers act and are to be found in a respective table. Credits up to € 15 however we offer on a much cheaper basis (check the table of charges). For a loan of more than € 300 there are charges of 3%. If You want to extend the loan, only the interest and charges for the expired time have to be paid.

What happens if You do not redeem Your pledge or extend the loan?

In this case Your pledge will be liquidated by sale auction, that is to say at the earliest after four months and at the latest after ten months after lending on pawn. The sale auction is undertaken by a publically afirmed and sworn auctioneer. All dates of public sale auctions are to be announced in the local press, so that You are able to follow up what happens with Your pledge.

What happens with the profit earnings?

Profit earnings is that part of the pledge revenue wich remains after deducting the credit, interest, refund of expenses incurred and the pro-rata expenses of the sale auction. You are entitled to these profit earnings and will be paid against return of the pawn ticket. To pick up the profit earnings You have two years time. If You don’t, the profit earnings will be delivered to the responsible tax authority. If the pledge does not earn profit at the sale auction, there will be no further demands on Your private fortune. Demands for the given credit, interest and charges can be met on the pledge only.

What happens if You lose the pawn ticket?

Please immediately inform us, so that a notice of non-negotiability can be made. In that case no unauthorized person will be able to redeem Your pledge using the pawn ticket. If You yourself wish to redeem Your pledge, You might do this presenting Your ID-card.

Protection of data privacy

Your personal data will be handled with absolute confidentiality. In particular there will be no informations delivered to a credit inquiriy of what kind ever. The stuff of our branch office nearest to You will be at Your disposal at any time.