Thursday, March 15, 2012

Another Obamanomics Greenshoot

In a sputtering economy, cash-strapped consumers are flocking to a new way of getting quick, short-term loans: online pawn stores.

It's yet another instance of online retailers pouncing on the turf of a brick-and-mortar industry.
For consumers, it means that instead of plopping a castoff wedding ring, camera or china platter onto the counter of a local pawnshop, you do the entire transaction online and by mail. 

The appeal: Online pawning is relatively quick, completely private and there's no stigma of walking into a public place with your personal possessions to hock. And if you default on your loan, nothing gets reported to a credit bureau.

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