History of pawn loans

Philippine Daily Inquirer First Posted 00:43:00 02/01/2009 Filed Under: Economy and Business and Finance

PAWN loans have been in existence for at least 3,000 years, dating back to ancient China and the early Roman and Greek civilizations and providing financial rescue to all social classes. Accounts say that English kings Edward III and Henry V, in 1338 and 1415, respectively, pawned their jewels to raise money for war, while Queen Isabella pawned hers in the 15th century to finance Christopher Columbus? voyage to the New World. Golden spheres The pawnbrokers? symbol is three golden spheres suspended from a bar, part of the coat of arms of the Medicis, a famous Italian family who found their wealth and political power in banking and commerce in the 13th century. In the Philippines, the Archdiocese of Manila established what was considered the country?s first savings bank in 1882. Though intended to be a bank, Monte de Piedad y Caha de Ahorros also operated as a pawnshop by providing collateral-backed loans to the poor. A group of pawnbrokers established the Philippine Pawnshops Association in Manila in 1949. A number of mostly second-generation members, who felt the need for a ?more dynamic? organization, elected a set of officers in 1956. Two years later, the group officially changed its name to Chamber of Pawnbrokers of the Philippines Inc. (CPPI), which still exists today. Past presidents of the CPPI include Jose P. Tambunting and Philippe J. Lhuillier. Pawnshop Act On Jan. 29, 1973, President Ferdinand Marcos issued Presidential Decree No. 114, or the Pawnshop Regulation Act. It required pawnshop owners to file an information sheet, under oath, with the Central Bank (now the Bangko Sentral ng Pilipinas), and set the minimum paid-in capital of any pawnshop at P100,000. The Act also required that only Filipinos could own a pawnshop. In the case of a partnership, at least 70 percent of its capital should be owned by the Filipino partner. In the case of a corporation, at least 70 percent of the voting capital stock should be owned by Filipino citizens, or if there was no capital stock, at least 70 percent of voting members should be Filipinos.

Eliza Victoria, Inquirer Research

History/Milestones
The country's largest pawnshop chain, Cebuana Lhuillier Pawnshop, began as a four-pawnshop outlet in Metro Manila in the mid-1980s. Cebuana Lhuillier Pawnshop today has branches spread all over the Philippines serving the Filipino pawner everywhere.

Cebuana Lhuillier Pawnshop traces its roots to Cebu. There, French Consul to the Philippines Henry Lhuillier established in 1935 his first of a chain of Agencias. He then opened several more branches in Cebu, as well as in nearby provinces of the Visayas. In 1968, Henry Lhuillier's son Philippe Lhuillier went forth and opened the first Lhuillier pawnshop at Libertad Street in Malibay, Pasay under the trade name Agencia Cebuana As the years passed and with the support of hardworking personnel, several more branches were opened in Metro Manila as well as in Northern, Central and Southern Luzon. Soon branches sprouted in the south - in key provinces like Davao, Cagayan de Oro and Bukidnon. In 1987, the company adopted the trade name Cebuana Lhuillier. Since then, every Philippe Lhuillier-owned pawnshop branch that opened anywhere in the Philippines carried the name Cebuana Lhuillier. Branches as far north as Aparri and as far south as Tawi-tawi are servicing the needs of over 30,000 clients a day. Cebuana Lhuillier Pawnshop is the country's largest pawnshop chain with branches in almost every city, town or district in the Philippines. "Walang Kapantay Magpahalaga" is the slogan that guides Cebuana Lhuillier in its everyday dealings with customers. The company takes pride in every opportunity where it has been able to live up to this commitment. .

Cebuana Lhuillier Pawnshop

From Wikipedia, the free encyclopedia

Cebuana Lhuillier Pawnshop, commonly known as Cebuana, is a Philippine-based pawnshop that gives pawnbrokering, moneyremittance, insurance, bills payment, collections, and e-loading services. Cebuana Lhuillier Pawnshop has over 1,500 branches all over the Philippines. The Guinness World Records awarded Cebuana Lhuillier the title Largest Chain of Pawnshops in the World in 2000. Its official brand endorser is Sarah Geronimo.

Contents
[hide]

1 Corporate Profile 2 History 3 Corporate Social Responsibility

4 References

[edit]Corporate

Profile

Cebuana Lhuillier Pawnshop is the flagship company of the PJ Lhuillier, Inc. Jean Henri Lhuillier is the current President and CEO of Cebuana Lhuillier, which gives pawnbrokering, money remittance, insurance, bills payment, collections, and e-loading services. He succeeded Ambassador Philippe Jones Lhuillier, the former Philippine Ambassador to Italy. Under PJ Lhuillier, Inc., Cebuana Lhuillier Pawnshop is affiliated with Cebuana Lhuillier Services Corporation (Commonly known as Cebuana Pera Padala), Cebuana Lhuillier Insurance Solutions, Cebuana Lhuillier Bank, Just Jewels, Le Soleil de Boracay, Phiten Philippines, PJ Lhuillier Foundation, Inc., and Palm Rock Residences. Cebuana Lhuillier Insurance Solutions is the proponent behind the Nationwide Search for the Happiest Pinoy 2012.

[edit]History
Cebuana Lhuillier Pawnshop began with four pawnshop outlets in Metro Manila in the mid-1980s. In 1968, Henry Lhuillier's son, Philippe Jones Lhuillier went forth and opened the first Lhuillier pawnshop at Libertad Street in Pasay under the trade name Agencia Cebuana. It traces its roots in Cebu, where then French Consul to the Philippines, Henry Lhuillier established his first chain of Agencias in 1935. Throughout the 70s and 80s, Philippe Jones Lhuillier opened more agencias in Metro Manila. The company pursued further nationwide expansion in 1987 and adopted the trade name, Cebuana Lhuillier, which it still carries to this day.

In 1998, Philippe Jones Lhuillier was appointed the Philippine Ambassador to Italy. Philippe Jones Lhuilliers son, Jean Henri Lhuillier, took the helm and became Cebuana Lhuillier Pawnshops President and Chief Executive Officer in the same year. Jean Henri Lhuillier introduced in Cebuana Lhuillier Pawnshops auxiliary services remittance, insurance, bills payment, e-load, and collections service. Cebuana Lhuillier Pawnshop introduced 24K Cebuana Card loyalty program in 2009-2012.

[edit]Corporate

Social Responsibility

Cebuana Lhuillier Pawnshop, through its President and CEO Jean Henri Lhuillier, is involved in sports development particularlybasketball, softball, and tennis. Cebuana Lhuillier Pawnshop owns a team in the PBA D-League, the Cebuana Lhuillier Gems. Jean Henri Lhuillier is the manager of the Philippine Davis Cup Team and is the president of Amateur Softball Association of the Philippines (governed by the International Softball Federation). Cebuana Lhuillier also has its own foundation, the PJ Lhuillier Foundation Inc, which conducts medical missions, relief operations for disaster-stricken areas, and feedings programs. It also has a nationwide scholarship program.

[edit]References
http://moneymanila.blogspot.com/2011/01/cebuana-lhuillier-pera-padalaofw.html http://www.manilatimes.net/index.php/business/top-business-news/10203-cebuana-lhuillier-to-expandnetworkhttp://www.businessweekmindanao.com/2011/10/31/cebuana-lhuillier-targets-200-more-branches-bynext-year/http://www.filipinoreporter.us/business-and-finance/investments/618-agent-cebuana-lhuillier-visitsmoneygram-in-dallas.html http://phildevfinance.posterous.com/cebuana-lhuillier-to-use-mobile-phones-for-re htt p://leytesamardaily.net/2011/09/cebuana-lhuillier-exec-tie-up-with-giz-to-encourage-poor-filipinos-to-be-insured/ http://computerworld.com.ph/tag/cebuana-lhuillier-pawnshops/ http://www.goldstardailynews.com/business/834 7-get-more-benefits-from-new-cebuana-lhuillier-24k-card.html http://chinabusinessphilippines.com/index.php? option=com_content&view=article&id=1284:cebuana-lhuilliers-isang-milyongpasasalamat&catid=35:peopleevents&Itemid=129 http://www.zambotimes.com/archives/43571-Country146;slargest-pawnshop-chain-launches-Happiest-Pinoy-2012-search-in-Davao-City.html http://www.sunstar.com.ph/ cebu/business/2012/02/29/insurance-firm-promotes-optimism-search-happiest-pinoy-208808 http://www.mb.co m.ph/articles/352472/search-for-happiest-pinoy-launchedhttp://ramragandan.blogspot.com/2007/01/knowingyour-lhuilliers.html http://www.unomagazine.com.ph/2010/05/king-of-pawn-jean-henri-lhuillier/ http://lifestyle.inq uirer.net/wellness/wellness/view/20100601-273141/How-sports-helps-Jean-Henri-Lhuillier-manage-hisbottomline http://www.pages.ph/2008/05/a-cebu-gem-he-shines-in-rp-sports/ http://mimpss.wordpress.com/tag/j ean-henri-d-lhuillier/ http://www.ofwngayon.com/tag/ambassador-philippe-j-lhuillier/ http://dfa.gov.ph/main/index .php/news-from-rp-embassies/712-ambassador-lhuillier-receives-italian-award http://books.google.com.ph/book s/about/Bayang_magiliw.html?id=kCY6QwAACAAJ&redir_esc=y http://www.newsflash.org/2004/02/be/be0042 61.htmhttp://www.balikbayanmagazine.com/index.php?option=com_content&view=article&id=239:a-good-manwith-a-good-heart-a-conversation-with-philippe-cebuana-lhuillier&catid=81:business

http://en.wikipedia.org/wiki/Cebuana_Lhuillier_Pawnshop

Mga Pagsasangla ng ari-arian

Karamihan sa mga tao ay humihiram sa bangko kapag nais nilang bumili ng bahay. Normal lamang na hingin ng bangko na may sariling pera (kapital) ang mamimili para hindi nila hihiramin ang buong halaga na aabutin ng pagbili ng bahay. Subalit, may ibang patakaran ang mga bangko. Ang interes na kailangan bayaran ng nangungutang ay batay sa porsiyento ng halaga ng ari-arian na hiniram. Mainam na alamin muna ang mga tadhanat kondisyon ng ilang mga banko bago mangutang. Maapektuhan ng pagsasangla ang pananalapi ng iyong pamilya sa mahabang panahon. Mainam din na alamin kung may mga plano para sa pagpapautang ang inyong lokal na kinauukulan na maaari mong mapakinabangan. Ang Husbanken ay may mga natatanging planong pautang para sa mga nakababata at iba pang nangangailangan ng tulog sa pagbili ng bahay. Ang mga planong ito ay pinamumunuan ng lokal na kinauukulan.

May dalawang uri ng pagsasangla/pautang:

annuity loan serial loan

Ang Annuity loan

Sa annuity loan ang halaga ng mga paghulog (installments) ay hindi nagbabago hanggang sa matapos ang pagbabayad, ito ay kung hindi magbabago ang halaga ng interes (interest rate). Sa una pa lang, ang bahagi ng interes at mataas at ang binabayarang bahagi ng hulog ay mababa lang. Habang binabayaran ang pautang, ang bahagi ng interes ay bumababa at ang bahagi ng pautang ang tumataas. Kapag nagbago ang halaga ng interes, nagbabago din ang halaga ng paghulog. Nananatiling walang pagbabago ang itatagal ng pautang (loan period). Ang kabuuang halaga ng interes ay mas mataas para sa annuity loan kaysa sa serial loan. Karamihan ng mga tao ay pinipili ang annuity loan dahil mas mababa ang buwanang halaga sa simula.

Ang Serial loan

Sa serial loan, ang bahagi ng interes ay hindi nagbabago hanggang matapos ang pagbabayad. Ang halaga ng interes, gayundin ang halaga ng hinuhulog, ay bumababa habang iyong binabayaran ang pautang. Ang kabuuang halaga para sa serial loan ay mas mababa kaysa sa annuity loan dahil mas mataas ang iyong binabayaran sa simula pa lang ng panahon ng pagbabayad. Narito ang halimbawa na nagpapakita sa mga halaga ng interes sa pagitan ng serial loan at annuity loan. Ang halaga ng pautang ay NOK 1,000,000 sa kapwa kaso, ang interes ay 4% at ang panahon ng pagbabayad ay 25 taon. Karamihan sa mga website ng mga bangko ay may pangkalkula ng interes. Pinahihintulutan nito na ikaw ay magpasok ng ibat-ibang halaga ng pautang at panahon ng pagbabayad. Kakalkulahin nito ngayon kung magkano ang iyong kailangan na bayaran buwan-buwan. Maaari mo rin gawin ang kabaligtaran nito, sa madaling salita, ipasok kung magkano ang iyong maibabayad sa bangko buwan-buwan at alamin kung gaano katagal ang magiging panahon ng pagbabayad. http://introtagalog.cappelendamm.no/c151969/artikkel/vis.html?tid=152170

Kailan sinasabing conjugal property ang mga ari-arian ng mag-asawa?

TUESDAY, 17 JANUARY 2012 13:26 PIA HITS: 899 SECTION:GABAY GABAY

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Nasa Article 92 ng Family Code na ang mga sumusunod na property ay exclusive o sariling property ng asawa na walang karapatan ang napangasawa dito: (1) Property na natanggap o binigay sa asawa sa pamamagitan ng mana, donasyon kasama ang mga income dito except kung ang pagmamana o donasyon ay nagsasabi na ito ay para sa mag-asawa; (2) Property for personal and exclusive use of either spouse. Pero ang jewelry ay considered na conjugal property; (3) Property acquired bago makasal na mayroong mga anak na lehitimo sa unang kasal kasama ang income ng mga ito. Sa pagbebenta ng conjugal property katulad ng house and lot, kotse at business na considered conjugal property ay kailangan mayroong written marital consent ang asawa. Kung walang written consent ang isa sa asawa, ang pagbebenta o pagsasangla ng conjugal property ay null and void (Article 96 of Family Code). Pero kung exclusive personal property ng isa sa mag-asawa, hindi kailangan ang written consent ng kanyang kabiyak. Lahat ng property na hindi dito na nakuha o natanggap ng isa sa kanila o ng mag-asawa ay considered at presumed na conjugal property unless mayroong evidence na ito ay exclusive sa isang asawa lamang. (Atty. Marlon P. Valderama)

http://www.akoaypilipino.eu/gabay/kailan-sinasabing-conjugal-property-ang-mga-ari-arian-ngmag-asawa
24k Cebuana cardholders will enjoy the following benefits:

Faster processing of transactions Auto-text alerts or notifications on promos and transactions Transactional queries via SMS Invites to exclusive client events Free jewelry cleaning Preferential/maximum appraisal rates when pawning Chance to increase prizes when winning in Cebuanas promos

Check status of transactions on the internet via 24K Online Discounts from partner establishments Use reward points to pay interest rates and service charges in pawning and remittance transactions Conversion of reward points to e-load Use the reward points to pay for bills from partner establishments Use the reward points to make a donation to charitable institutions Conversion of reward points to coupons that can be used to purchase services and products from partner establishments.

Redeeming your 24k reward points

How to convert your 24k reward points to coupons 1. Visit the nearest Cebuana Lhuillier Pawnshop branch or Pera Padala stand-alone outlet and present your 24k Cebuana card to our branch personnel. 2. Have at least one transaction at the branch [pawning, renewal, redemption, sending or receiving (remittance)] and make sure that the card has at least 50 accumulated points to be able to convert them to cash coupons. 3. Let our branch personnel know that you will be converting your points to cash coupons. 4. Depending on your number of reward points and preference, you may claim the rewards coupon in denominations of 50, 100, 200, and 500. 5. Use the rewards coupon to purchase products and services from Cebuana Lhuilliers partner establishments. Bring your 24k card for verification purposes.

The Advantages of a Pawn Shop

By Harper Jones, eHow Contributor

Pawn shops sell quality items at low prices.

A pawn shop is a store in which consumers can find great deals for quality products. Individuals who need money can sell their belongings to pawn shops as collateral for a small loan. Pawn shops loan these individuals a percentage of the value of their belongings and sell the items for considerably more than the price they paid for it if they are not paid back. Therefore, pawn shops are one way to borrow money.

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History
o

Pawn loans can be traced back to ancient China. Throughout history, pawnbrokers have bought and sold goods from people of all social classes. In fact, according to Acme Pawn, King Edward III of England may have been a customer at pawn shops in the 1300s. In the early days of America, pawnbrokers played a vital role in providing consumers with credit. As banks, credit card companies and other financial institutions have risen to prominence, pawn shops are no longer the vital force for consumer credit they once were.

Merchandise
o

Many pawn shops will accept any item of value that can be re-sold. For instance, gold, jewelry, watches, musical instruments, furs and bicycles are commonly accepted items at pawn shops. Some pawn shops may accept bigger items, such as mopeds or even cars. Other pawn shops may accept designer clothes and furniture. If you plan on selling items that are not usually accepted at pawn shops, call ahead to ensure that the pawn shop will accept them.
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Loans
o

If an individual who brings his personal item to a pawn shop as collateral for a loan cannot pay it back, the item will be placed on sale at the pawn shop. The time frame during which you can repay the loan before your item goes on sale varies by pawn shop but must be clearly stated before you agree to the

transaction. You will receive a ticket for the item you pawn to claim it in the future. If you do reclaim your item, you may have to pay a small fee to the pawn shop for holding your item in addition to the loan repayment amount.

Sellers
o

You can also go to a pawn shop with the express purpose of selling an item. Instead of offering you cash for your items, some pawn shops may offer you credit in the form of a pre-paid debit card or store credit. It may help to do some research on the value of your item to give you better bargaining power with the sales clerk or owner of the pawn shop.

Buyers
o

Items for sale in pawn shops are generally used but in good condition. Pawn shops are popular places to look for expensive items, such as watches and jewelry. There is the misconception that pawn shops sell stolen or knock-off merchandise, but pawn shops are required by law to cross-reference their merchandise with police and will vouch for an item's authenticity. Most pawn shops have a no return policy so make sure to inspect any items thoroughly before purchase.

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he advantages of using pawn shops for loans

Top Article All Articles

1of 1
by Katerina Nikolas Created on: October 28, 2010

Pawnshops represent one of the oldest industries in the world and they have certainly returned to fashion in recent years, with several advantages for those seeking loans or bargain purchases. Many have transformed into soulless type retail environments in an effort to dissociate from the rather seedy image of old. Once associated with fenced stolen goods they are now strictly regulated with many states requiring that shops report to local law enforcement when they make a pawn transaction. This leaves them wide open to scrutiny and these days only a minimal percentage of stolen goods are fenced through the pawn industry. Pawn brokers issue interest bearing loans to those who wish to pawn items for hard cash. A payment agreement is drawn up, with the borrower typically having 30 days to redeem the pawned item, by repaying the loan plus interest. At the end of 30 days if the item is not redeemed the pawn broker may then try to sell the item. Pawnbrokers will typically extend loans to those not in a position to redeem their collateral, upon request. Typical interest rates on such loans equate to about 120% APR or more, but are short term. Some pawnbrokers may charge extra for storage or insurance but they must document their charges in writing. The America Pawn Exchange describes their typical customer as a hard working parent whos had an unexpected bill and is between pay checks. There are many repeat customers who return to borrow against, and redeem, the same item between pay days. Somewhere above 10% of Americans have no bank account, and thus would not qualify for any alternative form of credit. Even pay day loans require a bank account. Many people effectively rely on pawn shops to act as their bank. Obtaining a needed cash advance from a pawn shop may be their only option. The advantages of using a pawn shop over other kinds of borrowing are the speed of obtaining the cash, and no credit check. Whilst pay day loans are issued without credit checks any late payments or defaults are generally reported to the credit bureaus. Those who fail to make the payment on their pawn goods do not have their default reported anywhere, as the pawn broker is already in possession of the collateral which they are then free to sell on. Thus the pawn broker can make a profit on the actual sale price of the item.

Pawn shops issue loans on a myriad of goods including firearms, jewelry and electrical appliances. Unredeemed goods which are then offered for

sale can represent a good buy for consumers, at less than typical retail price. Many pawn shops have now introduced a layaway service to their customers, or special layaways for the holiday season. Many offer better terms than traditional retailers by offering the service fee free. Plano pawn shops for instance offers used goods for sale for $10 down and then repayments over 6 months. These can be very convenient for cash strapped purchasers who cannot afford to purchase an item straight away. Unlike traditional merchants pawn shops cant just order another item when something is sold, as they rely on the goods which are brought into them. Thus the advantage of pawn shops is that they act as a bank for consumers who have no bank accounts, provide speedy access to loans, and are licensed and regulated. Those who pawn items lose no more than their collateral if they fail to repay the loan, but their credit file will not be negatively impacted and they wont receive collection calls. Purchasers can find bargains and be assured that they are not purchasing stolen goods, and even in some instances benefit from a layaway service to reserve what they cannot afford to purchase on the spot. Pawn shops provide a viable alternative to pay day loans without the risks of being caught up in a cycle of pay day loan debt. With over 40,000 pawn shops across the nation the stigma of using pawn shops has diminished and they are becoming far more evident in mainstream culture. Sources: American Pawn Exchange & Plano Pawn.
http://www.helium.com/items/1996171-the-advantages-of-using-pawn-shops-for-loans?page=2

What Are The Disadvantages of Pawn Shops?

By Ashley Leonard, eHow Contributor

There are always risks when dealing pawn shops, so be careful.

If you need quick cash, going to a pawn shop is one option. Pawn shops give you money in exchange for your items. You can pawn anything, including clothing, electronics and jewelry. There is always a risk when working with a pawn shop; you might get less money than you ask for, or you might lose your property. A pawn shop can be a quick solution to a money shortage, but be careful when dealing with a pawn shop.

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Possibly Not Getting Full Value

o

Pawn shops have to gain a profit from the items they buy and resell. So when you take a valuable item to a pawn shop, the shop will give you less money for it than the shop hopes to sell it for. For example, if your gold diamond ring is worth $500, the pawn shop might offer $200. Even if used jewelry looks brand new, it might have depreciated, according to Best Lookup.

Buyer Beware
o

If you are going to a pawn shop to buy, beware. You might not always get a good deal. A pawn shop might sell an item for more than normal retail price.

Do your research before going to a pawn shop. That item you are interested in might be cheaper through the Internet.
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You Can Lose Your Property

o

When you sell your items to a pawn shop, you can get them back if you are current on your payments. Pawn shops also work as lenders; they use your valuable items as collateral for your loan. If you do not repay that loan, the pawn shop has the right to sell your items. In most cases, a pawn shop will give a certain number of days to pay the money. Failure to pay back the loan will result in you losing your precious items.

You Might Be Denied A Sale

o

The pawnbroker has the right to reject the items you want to sell. This can be distressing if you need quick cash. If the pawn shop doesn't see value in your items, it will not accept them. For example, the pawn shop might determine that your item is fake; you keep that property but don't get cash.

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