You bring in an item of value you own and pass to the pawnbroker as collateral for a loan.
A Pawnbroker then loans you money against that collateral.
Once you repay the loan plus a redemption fee your collateral is passed back to you.
If you dont redeem the loan (collect) the pawnbroker has a legal right to sell the collateral to recoup his money and redemption fee, any surplus of the sale is returned to you. However, Premier will work with its clients in getting the collateral back to them