From Borro.com

The established high street banks used to be perceived as solid and reliable, while pawnbrokers were viewed rather negatively. Now, it’s the other way round. When a secured or unsecured loan goes bad, it frequently leads to adverse credit ratings, debt collectors, court actions, bailiffs, asset seizures, repossessions – or worse! Unless it’s a pawn loan!

A pawnbroker will never sell you a loan you can’t afford, or leave you with a debt you can’t settle - one way or the other. Although a bank loan, overdraft or credit card might have a relatively low headline APR or interest rate, if you get into trouble, all sorts of punitive extras can be added, such as late payment charges and default penalties - plus interest! This can end up costing you more than a pawn loan, and making your life a misery in the process.

Tags: borro.com, consumer credit, Pawn Loans, pawnbroker, pawnshop