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The National Pawnbrokers Association (NPA) is set to provide Welsh-language debt advice leaflets to pawnbroking stores across Wales.
The leaflets, which will be provided to all NPA members throughout the country, represent the first time that this kind of information in the welsh language has been provided in pawnbroking stores.
NPA chief executive, Ray Perry, said: “Pawnbrokers who are linked to the NPA already provide debt advice leaflets in English to customers who require good debt advice.
“Our pawnbrokers want to ensure that all customers can afford their loans. In the few cases where there are affordability issues rather than have to turn people away we want to help them by working closely with debt advice agencies and providing a customer in difficulty with suitable advice about debt agencies and charities who may be able to help them.
“In the worst case scenario, if a customer does not repay a loan then the asset, such as a gold ring, which the loan was based on is sold and any surplus after costs is returned to the customer. No other consumer credit product provides such a service.”
Perry said that good advice is essential for customers to reach a considered decision.
