Policy on Responsible Lending Here at Highland Jewelry & Loan, we strive to be as up front and honest as we can.

Policy on Responsible Lending

A pledger shall have no obligation to redeem the articles pledged or make any payment on a pawn transaction. The pledger of the article(s) attests that it is not stolen, it has no liens or encumbrances against it, the pledger has the right to sell or pawn the article(s). Pledger also attests that the pledger is not in voluntary or involuntary bankruptcy of any type. Pledger asserts that the pledger is at least 18 years of age. Pledger agrees that the Pawnbroker may, at Pawnbrokers option, extend this agreement one or more times.

28-7-5-28 -- Sec. 28

  1. The maximum rate of interest charged by pawnbrokers shall be the same as the maximum loan finance charge for supervised lenders under IC 24-4.5-3-508(2). For purposes of this subsection:
    1. The term of a loan commences on the date on which the loan is made;
    2. differences in lengths of months are disregarded; and
    3. each day is counted as one-thirtieth (1/30) of a month.

    The minimum term of a loan made by a pawnbroker is one (1) month. However, on loans paid in full within the first month, the pawnbroker may charge one (1) month's interest.
  2. Interest shall not be deducted in advance, neither shall the pawnbroker induce or permit any borrower to split up or divide any loan or loans for the purpose of evading any provisions of this chapter.
  3. If a pawnbroker charges or receives interest in excess of that provided in this section, or makes any charges not authorized by this chapter, the pawnbroker shall forfeit principal and interest and return the pledge upon demand of the pledger and surrender of the pawn ticket without the principal or interest. If such excessive or unauthorized charges have been paid by the pledger, the pledger may recover the same, including the principal if paid, in a civil action against the pawnbroker.


28-7-5-28.5 -- Sec. 28.5.

  1. Except as provided in subsection (b), in addition to the loan finance charge authorized by section 28 of this chapter, a pawnbroker may charge, contract for, and receive a fee not to exceed one-fifth (1/5) of the principal amount of the loan per month or any fractional part of a month for servicing the pledge that may include investigating the title, storing, providing security, appraisal, handling, making daily reports to local law enforcement officers, and for other expenses and costs associated with servicing the pledge. The fee for each month after the second month of the loan transaction is limited to one-thirtieth (1/30) of the monthly fee for each day the loan is outstanding. Such a charge when made and collected is not interest and is not a rate under IC 35-45-7-1.
  2. If a loan is renewed or extended, the monthly fee authorized by subsection (a) accrues at a rate of one-thirtieth (1/30) of the monthly fee each day:
    1. beginning upon the expiration of two (2) months after the original date of the loan; and
    2. continuing through and including the day a pledger redeems the pledge.


28-7-5-30 -- Sec. 30.

  1. Subject to subsections (b) and (c), upon the expiration of two (2) months from the maturity of the loan, a pawned article becomes the property of the pawnbroker and is subject to sale.
  2. Subsection (a) applies only if the pledger is given a reasonable opportunity during:
    1. the term of the loan; and
    2. the two (2) month period described in subsection (a);to repay the loan and redeem the pawned article.
    3. During the term of the loan and the two (2) month period described in subsection (a), the pawnbroker may not allow the public to have access to the pawned article.

If a ticket is lost, destroyed, or stolen the pledger shall so notify the pawnbroker in writing. Before delivering the articles pledged or issuing a new ticket, the pawnbroker shall require the pledger to make affidavit of the alleged loss, destruction, or theft of the ticket. Upon receipt of such affidavit, the pawnbroker shall permit the pledger either to redeem the loan or to receive a new ticket upon the payment of the accrued interest and charges, and the pawnbroker shall incur no liability for so doing unless the pawnbroker had previously received written notice of any adverse claim. The pawnbroker may collect a fee of $3 for reissuing the pawn ticket or affecting the affidavit along with the current lawful charge for notary fee.

Pawnbroker shall not be responsible for the loss of or damage to the articles pledged unless he fails to exercise reasonable care for its safekeeping. When pledges are redeemed by mail, in addition to the total amount due on the loan the pledger shall pay a reasonable fee for shipping and handling the pledged articles.

No oral representation shall in any way change or modify these written conditions: such oral representations shall in no way be binding upon the issuer of this pawn ticket.

The pawn transaction is regulated by the Indiana Department of Financial Institutions (800) 382-4880.

Customer Privacy Notice:

We collect nonpublic personal information about you as a customer or former customer from the following sources; Information we receive from you on pawn forms, loan documents, sales documents, or other forms; Information about your transactions with us, our affiliates, or others. We do not disclose any nonpublic personal information about our customers or former customers to anyone, except to our affiliates and as permitted by law. We restrict access to nonpublic personal information about you to those employees who need to know that information to provide products or services to you. We maintain safeguards that restrict access to your nonpublic personal information.