Coast Jewelry & Loan

Revdex.com: I have reviewed the response made by the business in reference to complaint ID [redacted] , and have determined that this proposed action would not resolve my complaint For your reference, details of the offer I reviewed appear below When I originally went to Coast Jewelry and Loan with my request for a loan I had many pieces of jewelry for which I wanted a single loan They suggested that I separate the request for a loan into several separate loansI believe this was an intentional ploy to get what they wanted - my 5,to 6,dollar carat gold necklace Each time I received a notice from them, I went into the store with cash and paid a lump sum which I thought covered all of the pieces of jewelry and they gave me my receipts When I went in the last time, I brought cash to pay and they took all of my receipts and came back with one package of jewelry, which did not include everything that I had left with them They then went into the back and got another package When I asked them for the necklace, they told me that it had been sold because I did not pay the interest on it in December, which I had been in there and done that I believe that they had this plannedAll of the separate loans made this confusing and for all I know one of them kept my cash on this separate necklace loan and then they stole the piece or they made a mistake They only loaned me about dollars on this piece and it was carat gold - worth to thousand dollars I want my necklace back Regards, [redacted]

Pawn transactions are made for months from date of transactionAt the end of the four months the customer has the option to renew/extend the loan by payment of interest charges that are dueIf no payment is made at the end of the month holding period a day reminder/foreclosure notice is mailed out and verified by the US Post Office giving days for the interest payment to be madeIf there is no payment received during that time the title of the item legally forfeits to the pawnbrokerAt the time of the interest payment being made a new receipt is issued and the customer must physically sign the new contract which has the new due date on itIt is not possible to pay interest for a item and not receive a receipt that shows the new due date and has the customers signature on itThe transaction in question did not have the interest payment made to it and no receipt was issued therefore title was transferred after the delinquency period expired and the item was disposed ofThe customer acknowledged that they did not have a receipt for payment and our records also show that no payment was made to extend the loanThe laws are very specific about time periods, holding periods and notice periods and we have followed these state required guidelines since we opened in

The customer has done business with us since and has had transactions during that time with us. She has come in to pay the interest on the items or redeem them all at various times depending on when the items came dueThis is not the first time that she has defaulted on an item due to non payment of interest chargesThe transaction in question was initially instituted on 3/25/and interest was paid on 8/4/16; one day before foreclosureAt that time a new ticket was issued extending the contract to 12/4/A foreclosure notice was mailed on 12/5/and the last day to pay interest was 12/15/No payment was received and the item foreclosed on 12/16/The customer was in our store to do separate transactions on 10/27/and on 11/03/receiving additional funds on separate transactions and never paid any interest on the item in questionOn the 11/03/transaction, customer was informed item in question needed payment and customer replied, "I am going to get all in December" so she failed to do soThese were opportunities for her to take care of this at either of those times as her previous record of business with us shows that she was well aware of the rules and laws that we abide by from the State of CaliforniaShe did not attend to this transaction after 8/4/We are able to back up our facts for this and are sorry that the customer did not take care of this within the time limit but there was no intent to do anything besides follow the legal guidelines on this transactionThe customer was well aware of the practices of the business and had even called us many times in the past to find out when her items were due

Pawn transactions are made for 4 months from date of transaction. At the end of the four months the customer has the option to renew/extend the loan by payment of interest charges that are due. If no payment is made at the end of the 4 month holding period a 10 day reminder/foreclosure notice is...

mailed out and verified by the US Post Office giving 10 days for the interest payment to be made. If there is no payment received during that time the title of the item legally forfeits to the pawnbroker. At the time of the interest payment being made a new receipt is issued and the customer must physically sign the new contract which has the new due date on it. It is not possible to pay interest for a item and not receive a receipt that shows the new due date and has the customers signature on it. The transaction in question did not have the interest payment made to it and no receipt was issued therefore title was transferred after the delinquency period expired and the item was disposed of. The customer acknowledged that they did not have a receipt for payment and our records also show that no payment was made to extend the loan. The laws are very specific about time periods, holding periods and notice periods and we have followed these state required guidelines since we opened in 1950.

Revdex.com:
I have reviewed the response made by the business in reference to complaint ID [redacted], and have determined that this proposed action would not resolve my complaint.  For your reference, details of the offer I reviewed appear below.
When I originally went to Coast Jewelry and Loan with my request for a loan I had many pieces of jewelry for which I wanted a single loan.  They suggested that I separate the request for a loan into several separate loans. I believe this was an intentional ploy to get what they wanted - my 5,000 to 6,000 dollar 24 carat gold necklace.  Each time I received a notice from them, I went into the store with cash and paid a lump sum which I thought covered all of the pieces of jewelry and they gave me my receipts.  When I went in the last time, I brought cash to pay and they took all of my receipts and came back with one package of jewelry, which did not include everything that I had left with them.  They then went into the back and got another package.  When I asked them for the necklace, they told me that it had been sold because I did not pay the interest on it in December, which I had been in there and done that.  I believe that they had this planned. All of the separate loans made this confusing and for all I know one of them kept my cash on this separate necklace loan and then they stole the piece or they made a mistake.  They only loaned me about 200 dollars on this piece and it was 24 carat gold - worth 5 to 6 thousand dollars.  I want my necklace back.
Regards,
[redacted]