Sunday, March 03, 2013

Credit report

Today we finished the cases for credit transactions. Then the professor let us prepare a report, which will be equivalent to two recitations. I volunteered to report for the Pawnshop Regulation Act. Then I asked my cousin if she has pawned something. She said yes, and I pictured her pawnshop ticket. She pawned a necklace and was loaned Php 3,550 or $88. She must pay it or renew the loan by March 15. Having a pawnshop sounds like a good business because you only need Php 100,00 or $2,500 paid in capital. So we plan to pay the loan and she will pay us instead. Now that's good credit.

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