People have been using local pawn shops for thousands of years to trade their items for
cash. It is a safe, simple process. You bring in items you wish to sell or pawn and you
can walk out with a pawn loan against the value of the items or cash if you sell your
items outright.
However, you may wonder when making a transaction at a pawn shop, do they keep a
record of your personal information; and if they do, how long do they retain your
information? Plus, do they keep information in a safe setting.
How pawn shops work?
Pawnbrokers take in a wide range of items from their customers on a daily basis
including gold, silver, and platinum jewelry, diamond and other gemstone jewelry, gold
and silver coins, watches, and other valuable items. Some pawn shops in AZ also offer
title loans on cars or motorcycles. These items can be used as collateral to secure a
pawn loan based on the value of the items or the pawn shop may buy the items outright
to resell. You make the choice as to how to proceed.
Over the years pawn shops have developed an excellent working relationship with local
law enforcement agencies so that they can avoid accidentally taking in stolen items.
As part of this you will need to provide a government-issued photo ID. Pawn brokers
also prefer that you bring in anything that proves that you own the item. Obviously this
may be difficult on inherited or gifted items but old appraisals, repair bills in your name,
original packaging, and any other item you think could help should be brought along
when you present the items to the pawn shop.
The pawn shop keeps a detailed log of every new item that comes into their inventory
and submits it to a nationwide database that police departments monitor on a daily
basis. The police watch for any items being placed into the database that could match
police reports from local robberies. Law enforcement authorities routinely have the
ability to download information about the items pawned or sold to the pawn shop as well
as the description and identification of the person that sold or pawned items to the pawn
Shop.
Pawn stores are regulated by county, state, and federal regulations and laws. Some of
the information they collect on you may be requirements of these laws. Feel free to ask
about why they are asking for a certain bit of information but don’t be surprised if all they
can say is that they have to have a certain state or county form completely filled out.
Depending on how often you are in the pawn store and your interactions with the store’s
staff you may realize that they take in almost as much information on someone who
purchases an item as on the person who sold the item to the store. This gives one last
way to contact the person in possession of the item if it takes extra time to determine
that the item is a stolen item.
How long are records on file?
How long a pawn shop keeps records may be limited to the software (or lack thereof)
used in that pawn shop. State or county laws may apply. The law varies by state
regarding how long records must be retained and what information is required when
pawning or selling merchandise to a pawn shop. On average, records are kept between
3 to 5 years. After that certain period of time, pawn shops discard personal information
by shredding paper records or permanently deleting electronic records from their
computer systems in order to protect your personal information from being stolen or
otherwise compromised.
If you notice something questionable or have a question about the security of your
personal information do not hesitate to ask questions. A reputable pawn broker will
have no problem with describing their operations and answering your questions. They
want you to feel comfortable dealing with their business and won’t have anything to
hide.
Have more questions about pawn loans? We’ve got the answers. Arizona Jewelry and
Loan in Scottsdale is proud of its customer first mentality. They will do their best to
meet your needs and help you find what you are looking for at the best possible price.
