The borrower retains title during the time period of the deposit agreement. He is liable not personally, but only with the value of the pledge. To know more about this subject visit novelist. Are available at the end of the pledge credit agreement not yet sufficient funds, the seized goods to trigger on time can be extended usually for a period of three months contract. The triggering of the pledge at the end of the contract term will remain entirely, the seized goods is released after a statutory period for auction by a publicly appointed auctioneer. However, the auction of the pledged property remains the exception. According to the Central Association of the German mortgage banking industry are in the industry average around 92% of the granted Regular loan repaid by the pawner. A pawn shop may not be operated by anyone.
Similar to such as real estate brokers, is a business requires. “Who would like to practise it, must meet certain requirements of the legislator and companies including strictly according to the requirements of the regulation on the business operations of the commercial pawnbroker” (mortgage loan regulation PfandlV of the 01.02.1961). In this regulation, the conditions requiring a pawnbroker may, are governed by the legislators and others clearly. Many of our customers are grateful that there are such specialized car mortgage companies like ours,”says Christian Maass. Banks send away those interested of often empty-handed again if they want to borrow from for a short period of time.
Administrative burden for such short time credit is often too large and makes it uneconomical for the banks. In addition, some potential borrowers credit line is already maxed out, and a bank generally has not the possibility to accept pledges as collateral for granting credit. At this moment we act for our clients as real, and more straightforward problem solver, which is why they often remain us as regulars”. Detailed information at for more information contact please: Maass PfandDepot pawn shop for cars and mobiles at the Munich Airport Business Park Christian Maass, Dipl.-Volkswirt (GB) Zeppelinstr 3 85399 Hallbergmoos Tel: 0811 / 99 88 55 85 fax: 0811 / 99 88 55 86 mobile: 0178 / 195 11 11