What are my rightsmy right as a pawnbroker regarding an item being pawned if I later found out from a rental company that it came from their store?

Somehow the rental company got the pawn ticket. I have a loan on this item just like the rental company. As a pawnbroker after my loan on the item is up, can I sell the item to get my money back. The pawn detective told me I could not.

Asked on October 8, 2011 under Bankruptcy Law, Georgia

Answers:

FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney

Answered 9 years ago | Contributor

The ultimate question is whether or not the item that was pawned at your store was stolen or not since the renatl company has the pawn ticket. I suggest that you have a face to face meeting with the owner of the rental company to discuss its claim to the item that was pawned and your claim for monies advanced for the pawned item that you now wich to sell in order to recoup your loan.

The ultimate issue is who was the person who pawned the item you loaned upon and if the rental company knows who this person is.

Potentially both you and the rental company that now has the pawn ticket can come up with a solution to your dilemma. The best way to resolve it is simply for the rental company that holds the pawn ticket to come up and pay you the money advanced and all accrued interest to satisfy the obligation owed.

Good luck.


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