Legal Question in Civil Litigation in Georgia

In the State of Georgia, can a Pawn Shop report a negative entry on your credit report. Keep in mind, it is a Title Pawn and colateral is the Title. The vehicle was turned in and the Title Pawn put that the coalateral was forfeited and the pawn was not satisfied. I sent a dispute to the Credit Bureau and found that the Title Pawn listed the transaction as a Loan. Furthermore, I explained to the Credit Bureaus that in the State of Georgia, the Title Pawn can not report to the Credit Bureaus due to the fact that the are regulated in the same mannor that Pawn Shops are regulated. The coalateral ( in this case was a car) was pledged as Security on the account. The only stipulation is that the customer pays for the vehicle or surrender the coalateral. When someone pawns their rings, tvs, guns, etc... the pawnshop has the coalateral in which they gave a DISCOUNTED VALUE to the customer (generally 50 to 60 % of the current value). The same applies to a Title Pawn, they cant lose unless someone doesnt turn the vehicle in or it cant be repossesed. Furthermore, the charge 25% a month to the customer until the pawn is paid out. I hope this is enough information for an answer. I plan on taking the Title Pawn institution to court (win lose or draw).


Asked on 3/03/12, 9:25 am

1 Answer from Attorneys
Glen Ashman Ashman Law Office also dba Glen Ashman Attorney

You asked teh same question before, and title pawns DO often report to credit bureaus and can. Assuming the report is correct, when you sue them, they will be able to sue you for frivolous litigation and attorneys fees, so if you are bound and determined to lose more money, go ahead and ignore the law.

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Answered on 3/03/12, 10:24 am


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