Pawnbrokers are common in virtually every city in America and offer a great way for you to obtain a little extra cash. You have the option of either selling your items outright or taking a loan using your items as collateral. A quality pawn shop will offer a strong level of protection under both state and federal law.

Here's what you should expect when you visit a pawn shop:

• Identity Check: Under the Patriot Act, pawnbrokers are required to ask for government-issued identification, like your driver’s license or passport. This is to help protect against terrorism and related activities for shops that sell firearms. In some stores, you may also be asked for your fingerprints.
• Questions About Ownership: The pawnbroker is required to do everything possible to ensure you actually own the item being pawned or sold. While it may be a bit unnerving to be grilled about it, remember it's just a part of their job. The goal is to make sure the shop is not accepting any stolen goods.
• Explanation Of Loan Terms: You should never enter into any loan agreement without fully understanding the details. A quality pawn shop will clearly outline the terms of repayment, interest, and fees before asking you to sign anything. Don't be afraid to ask questions if you are unsure about any of the requirements.

• In Nebraska you are also protected by state laws.  These laws dictate the maximum amount of interest that can be charged(20% per month), the hold time of a pawn loan(120 days) and the licensing requirements for a pawnbroker. Then the local authorities get involved and place requirements on us for banning some individuals from doing business in a pawn transaction, stolen item list to help prevent accepting wrongful items, bond requirements to participate in the business, scale verification, and more.  All of this is so that the customer can transact business with a knowledge that they are being treated fairly.

Now that you know the basics, you're ready to start pawning! Moore Pawn & Furniture of Lincoln, NE, adheres to all federal and local laws to give you a quality pawn shop experience. Call them at (402) 477-5116, or visit their website to find out more information.