BBB Business Review

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This business is not BBB accredited.

Broadway Pawn & Jewelry, Inc.

Phone: (505) 327-6741 Fax: (505) 327-4174 615 W Broadway St, Farmington, NM 87401


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Description

Pawn Shop


BBB Accreditation

This business is not BBB accredited.

Businesses are under no obligation to seek BBB accreditation, and some businesses are not accredited because they have not sought BBB accreditation.

To be accredited by BBB, a business must apply for accreditation and BBB must determine that the business meets BBB accreditation standards, which include a commitment to make a good faith effort to resolve any consumer complaints. BBB Accredited Businesses must pay a fee for accreditation review/monitoring and for support of BBB services to the public.


Reason for Rating

BBB rating is based on 13 factors. Get the details about the factors considered.

Based on BBB files, this business has a BBB Rating of No Rating. The reason is as follows:

  • BBB does not have sufficient information to issue a rating on this business.


Customer Complaints Summary

0 complaints closed with BBB in last 3 years | 0 closed in last 12 months
Complaint Type Total Closed Complaints
Advertising/Sales Issues 0
Billing/Collection Issues 0
Delivery Issues 0
Guarantee/Warranty Issues 0
Problems with Product/Service 0
Total Closed Complaints 0

Customer Reviews Summary Read customer reviews

0 Customer Reviews on Broadway Pawn & Jewelry, Inc.
Customer Experience Total Customer Reviews
Positive Experience 0
Neutral Experience 0
Negative Experience 0
Total Customer Reviews 0

Additional Information

BBB file opened: March 07, 2003 Business started: 01/01/1979 Business started locally: 01/01/1979
Type of Entity

Corporation

Business Management
Mr. Brian Dowty, Manager
Contact Information
Customer Contact: Mr. Brian Dowty, Manager
Business Category

Loans Pawnbrokers Tax Return Preparation

Business Management

Payday loans can be tempting. Advertisements promising money to "tide you over until your next paycheck" appear at check cashing outlets, in pawn shops, within the classified ads and increasingly, online. While "cash until payday" services sound helpful, consumers need to know the risks. Cash-strapped consumers often find themselves in an endless cycle of repeated borrowing at extremely high costs. Small, short-term, high-rate loans are marketed under a variety of names: payday loans, cash advance loans, check advance loans, post-dated check loans or deferred deposit check loans. To obtain the payday loan, a consumer writes a check payable for the amount he or she wishes to borrow plus a fee. The lender gives the borrower the amount of the check, minus the fee. The lender then holds the borrower's check until his or her next payday, when the borrower can do one of three things: allow the check to be cashed, redeem it by paying cash to recover the loan plus a fee, or roll it over by paying the fee to extend the loans for two or more weeks. While borrowers must have a bank account in relatively good standing and a source of income or benefits to qualify for payday loans, the lenders typically do not perform conventional credit checks. Some borrowers complain to the Better Business Bureau that the lenders encouraged them to write checks without funds for deposit and then used those checks to coerce them to extend their loan. Called "loan flipping" this practice can trap vulnerable consumers in debt. Under the Truth in Lending Act, the cost of the payday loans - like other types of credit - must be disclosed. Among other information, a consumer must receive, in writing, the finance charge (a dollar amount) and the annual percentage rate or APR (the cost of credit on a yearly basis). Finance charges can range from $15 to $30 per $100 borrowed. This may not seem like a lot of money until you look at the APR for the loan.

X

BBB Customer Review Rating plus BBB Rating Overview


BBB Customer Reviews Rating represents the customers opinions of the business. The Customer Review Rating is based on the number of positive, neutral and negative customer reviews posted that are calculated to produce a score.

Customer Review Experience Value
Positive Review 5 points per review
Neutral Review 3 points per review
Negative Review 1 point per review

BBB letter grades represent the BBB's opinion of the business. The BBB grade is based on BBB file information about the business. In some cases, a business' grade may be lowered if the BBB does not have sufficient information about the business despite BBB requests for that information from the business.
Details

BBB Letter Grade Scale

BBB Rating Value
A+ 5
A 4.66
A- 4.33
B+ 4
B 3.66
B- 3.33
C+ 3
C 2.66
C- 2.33
D+ 2
D 1.66
D- 1.33
F 1
NR -----
Star Rating scale

  Average Score
5 stars 5.00
4.5 stars 4.50-4.99
4 stars 4.00-4.49
3.5 stars 3.50-3.99
3 stars 3.00-3.49
2.5 stars 2.50-2.99
2 stars 2.00-2.49
1.5 stars 1.50-1.99
1 star 0-1.49

BBB Customer Review Rating plus BBB Rating is not a guarantee of a business' reliability or performance, and BBB recommends that consumers consider a business' BBB Rating and Customer Review Rating in addition to all other available information about the business. If the BBB Rating is NR then only Customer Reviews are used for the Star Rating.