Even the Rich Using Pawnshops! Are Payday Loans Next?

By | Dec 17, 2008

The Royal Pawn & Jewelry location in Royal Palm Beach, Florida is experiencing record transactions in high-end jewelry, fine art and automobiles.

Thanks to our current economy and the arrest of ponzi-king Bernard Madoff, or should we say “made-off as in made-off with all our money”, even the very rich are heading to their local pawnshop to make it through the week.

Levi Touger, co-owner of Royal Pawn & Jewelry, said big ticket items, including more than one ferrari and several yachts, are finding their way to his pawn shop. Having lost millions with Madoff, these “Royal Palm Beachers” need to get their hands on cash quick!

I sure hope the Palm Beach payday loan stores are stocking up on cash as well. I wouldn’t want the poodles in the area to want for their weekly shampoo.

Oh, if you’re planning to head over to Levi’s place for a deal on a 10 carat diamond ring, better wait. Florida state law requires pawn shops to provide 60 days for owners of pawned items to redeem them.

Jer@PaydayLoanIndustry.com

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2 Comments so far
  1. Aaron Wakling December 17, 2008 3:15 am

    Would you be interested in exchanging blogrolls links with my site? Please email me if you are interested

  2. Emily Winkle December 17, 2008 5:47 pm

    You would be surprised… payday loans are not only taken out by people with bad credit. Research shows payday advance customers are middle-income, educated, working families, with more than half earning between $25,000 and $50,000 annually. 58% have attended colege, and 1 in 5 having a Bachelor’s degree. Check ‘n Go is a reputable company offering services at store locations and online. Visit http://www.checkngo.com for more information.

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