Grace periods in some states
| State | Grace period after the due date |
|---|---|
| Texas | 30 days, charged at one thirtieth of the monthly charge per day |
| Florida | 30 days; then the item is forfeited |
| Alabama | 30 days; then forfeited automatically |
| Tennessee | 30 days, no extra notice required |
| Oklahoma | At least 30 days |
| North Carolina | 60 days before the item can be sold |
| South Carolina | 60 days, with a mailed notice at least 10 days before |
| Georgia | 10 days for most goods |
| Ohio | After 3 months unpaid, a mailed notice and 30 more days |
Your pawn ticket shows the exact maturity date and the last day to redeem. Every state page lists its rules: start at all states.
Your options before the deadline
- Pay in full. Loan plus charges, and the item is yours again.
- Renew or extend. In many states you can pay only the charges to start a new term. It keeps the item safe but costs another month of charges.
- Pay down the principal. Some shops accept partial payments, which lowers the next charges.
- Let it go. If the item is worth less than what you owe, letting it go ends the debt.
What does not happen
- No collection calls or lawsuits for the unpaid loan; the item settles it.
- No negative entry on your credit report for an unpaid pawn loan.
Plan the cost of extending with the pawn loan calculator set to two or three months.
Questions
Can I get my item back after the grace period?
Once the grace period ends, the item belongs to the shop. Some shops will still let you buy it back if it has not been sold, but they are not required to.
Will the pawn shop call me before the deadline?
Only some states require a notice: South Carolina requires a mailed notice before forfeiture and Ohio requires a notice after three months without payment.