There are no financial implications of non-payment of any loan. There is no impact to a client’s credit score for late or non-payment. If no payments are made, the loan simply defaults and the collateral is sold. Collection practices include phone call or text message to remind client when payment is due. Loans are renewed when a payment is made. There are no additional penalties or fees when renewing a loan. No loans are under 30 days. The loan is not required to be paid on, or repaid within 30 days. Early prepayment options are available without any additional fee or cost. Pawn Loans are typically done within 5 minutes and are intended as short term cash loans to fulfill immediate needs. Monthly rate as prescribed by the State of Florida is a maximum of 25%.