What to Do If a Pawnshop Loses Your Things

Know Your Rights

By Erline Logan, published Apr 02, 2006
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You can find a pawn shop, probably more than one in any city or town. They offer more than just a quick way to borrow a small sum of money by showing your driver’s license and putting up your stereo or TV or some other item of value. For one thing, they usually have a real decent selection of jewelry, since that seems to be what most people pawn first. When my daughter was pregnant with my grandson I happened to be in a local pawnshop checking out the movie selection when a jewelry set caught my eye. It was a mom and baby cameo set with necklace and earrings. I immediately thought how wonderful it would be to slip the necklace around the new mother’s neck after the baby was born and that’s exactly what I did. I put it on lay-a-way and picked it up the day she went into labor. I couldn’t help but wonder why someone would pawn such a lovely set and then not pick it up but I was elated at my good fortune. Not long after, I saw the same set at JC Penney for 3 times what I paid for it.

But what if you’re the one who pawns something, you pay all the fees, yet when you arrive to pick up your item, it’s nowhere to be found? That’s exactly what happened to a young couple at that same pawn shop. It seems they had pawned the young wife’s violin to raise money for an emergency they faced. What made the situation heartbreaking was this was the violin her grandfather had given her many years before. While that may be a lesson in what not to pawn: anything sentimental, it was also a lesson about the legal ramifications when something like this happens.

Takeaways
  • A Pawnbroker who loses your item has to replace it with like kind merchandise.
  • Pawnshops in Texas are regulated by the Office of the Consumer Credit Commissioner.
  • Try not to pawn anything sentimental.
Did You Know?
Pawnshops are a great place to find bargains on good used merchandise.
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