Category Archives: Pawn Shops

Articles about Pawn Shops, Loan Sharks and Bad Business!

The Real Cost of a Payday Loan

payday-loansHave you seen the usual payday loan advertising? Usually they begin with “you need to buy a new car, new clothes, or you need a ‘quick buck’ to pay off debts??? Why not use a very cheap form of credit with very reasonable terms?” It sounds fantastic, right? These advertisements rage on the radio, television, in newspapers and magazines. But make no mistake: as with virtually every form of loan used to finance consumption, it is very easy for someone to get into financial trouble thinking that they are making a clever deal when taking a payday loan.

What is a Payday Loan?

A payday loan (also called a paycheck advance) is a small, short-term loan that is intended to cover a borrower’s expenses until his or her next payday (Wikipedia).

Payday Loan Risks

Loans can be very dangerous and a time bomb for the budget of those who find it challenging to manage their finances.

In most cases, payday loans are limited to a percentage of the borrower’s income. However, there are companies that provide loans without establishing any limit, leading many people to lose control over their finances. In desperation, and with a lack of financial education, many people resort to this mechanism to pay off monthly bills, forgetting that in reality they are only postponing the problem, as this continues to the following month and worse, it will still be necessary to pay back the loan.

Another risk related to payday loans are the interest rates. There are cases where someone who borrows $300 is charged over $100 for a seven day loan, and can then only meet the repayment by not paying other bills, such as rent or electricity. This can lead to a cycle of debt that makes things worse for the borrower. In other cases, the borrower has to pay up to 5 times more than the amount borrowed.

Take a payday loan or not?

Despite regulations – which include limits on loan fees and number of renewals – payday loans still create chronic and paralyzing debt and in general leave customers in a worse financial condition than prior to the original payday loan.

It is important to verify if the use of this mechanism is really necessary, or if there are better alternatives.

You might have some jewellery that is forgotten on your drawer, items that are outdated and you don’t wear anymore, or you just want to free up some money for other things. A great way to avoid high interest rates from loans and still have the money for the things you need is to sell your unwanted gold and/or silver items to Gold Smart.

Our best price guarantee policy assures you are getting the most money for your items, no hidden fees, no hidden costs.

Posted in Gold Smart Blog, Pawn Shops | Tagged , , , , , | Leave a comment

National plans loan shark clampdown

From the NZ Herald, November 6th 2011.

National will change the law to clamp down on dodgy loans by forcing lenders not to give loans to people who would face significant hardship in repaying them.

A proposed change to consumer credit laws would set up a code of ethical lending, and require lenders to be open and transparent with borrowers. Any lenders who breached the code, such as by charging exorbitant interest, would be struck off if they did not heed warnings.

Mr Key said it would undoubtedly put some money lenders out of business. About one third of current lenders would not comply, and although some could clean up their game others would be forced out.

Mr Key said they were preying on the vulnerable. Read more

Posted in Gold Smart Blog, Interesting News, Pawn Shops | Leave a comment

Balazs Kiss Engaged in Ghostwriting

It’s disappointing for us to see another person attempting to copy our hard work and creativity. We have become aware that “Balazs Kiss” also known as “Peter Bal Kiss” (Wellington, New Zealand) was advertising on Freelancer.com for ghost writers to rewrite original copy and the design of our Gold Smart website.

Balazs KissBalazsK states on Freelancer.com, “I need to rewrite the texts on the following website: http://www.goldsmart.co.nz most of (90%) of the texts needs to be re-written to the extent that it does not resemble to the original text. English native speaking only please…” And he goes on to say,I need something similar design, pictures, icons, everything what makes it similar site.

A ghostwriter is normally a professional writer who is paid to write articles, text, reports etc that are officially credited to another person. According to Wikipedia, “A consultant or career-switcher may pay to have a book ghostwritten on a topic in their professional area, to establish or enhance their credibility as an ‘expert’ in their field.”

balazs3d

Above: An extract from the freelancer.com website where Peter Balazs Kiss sought a ghost writer to re-write the Gold Smart website.

He’s classified the job under “easy website job, replicate website, rewrite all texts on a website, ghostwriting, and easy/fast job”. The only conclusion we can come to from the above advertisement is that there is a deliberate and calculated effort to leverage our original ideas and content. It’s frustrating to see someone do this rather than create something original and worthwhile themselves.

If you work hard, it’s not expensive or difficult to create your own ideas and content. However by using low paid ghost writers and designers they can save time and money to replicate our website and content.

A quick search of Google reveals on his LinkedIn profile that Balazs Kiss is currently a Senior Lighting Technical Director at Weta Digital in Wellington and has worked on many major motion pictures. His personal website states, “Balazs uses a variety of software programs in his work. Most of the time he uses Autodesk Alias Maya with Mental Ray or Pixar Photorealistic Renderman for his own work. He also uses Apple Shake for compositing and Adobe Photoshop or Right Hemisphere’s Deep Paint for texturing.”

balazs3d_02

Peter appears to be working closely with a Georgina Lany who runs a social media company called “Wicked Social Media” and “The Facebook ATM” promoting coaching, get-rich-quick style seminars and guidebooks that teach people how to make money from Facebook.com using her “21 fail-proof strategies and campaigns“, she also claims “I promise you that if you download the guide right now, and you get started right away, you will see money flooding onto your Facebook ATM account in less than 24 hours… You can too achieve financial freedom in a couple of months, while maintaining a sustainable financial freedom.

On her YouTube channel she says, “I guess you know right now that to be successful in your niche you need to be connected with your targeted group, you need to be loved, trusted and need to provide free content so people will like you, trust you and at the end purchase from you. It’s a really hard work and takes a really long time.

The actions described in this blog post are in conflict with the above statements made on their website. It appears as though the shortcut option has been taken by ghost writing content and replicating brands/websites that others have taken years and invested lots of capital to develop. We wouldn’t trust seminar advice from a couple that conducts themselves in this manner – would you?

LEGAL ACTION

Lawyers on behalf of Gold Smart contacted the owners of ‘FastCash4Gold’ to notify them of the copyright infringement on the 22 September 2011.

Here’s an extract from our letter: “The fastcash4gold.co.nz website infringes our client’s copyright because it substantially reproduces our client’s website notwithstanding that some minor changes have been made.  The layout, headings and much of the text/images have been copied almost identically.  Any changes that have been made are not significant enough to avoid infringing our client’s copyright.”

We received a response from a “Mr John McMartin” (perhaps the famous actor is now working for them): “Thank you very much for your letter. With deep regret we need to inform you that the FastCash4Gold website due to personal circumstances is now shut down. It has no connection what so ever to your email or your various accusations whats are without merit.”

Other claims from their reply include:

  1. “No pictures were used on the website whats (sic) are in the ownership of GoldSmart.”
  2. “The FastCash4Gold website is taken down, and due to personal circumstances it stopped (sic) every kind of gold/silver trading operation.”
  3. “We wish it is satisfactiory (sic) by you. In our opinion this matter is now concluded!”
  4. “If you wish to take it to Court, feel free to do so.”

Let’s look at these claims in a little more detail, we have also included images to illustrate our points.

Here’s the home page for ‘Fast Cash for Gold’ (right). You’ll notice the sections and navigation of the website are a direct copy of the Gold Smart website (below).

Please click on the images if you’d like to view the samples as higher resolution images.

SPECIFIC EXAMPLES OF COPYRIGHT AND TRADEMARK INFRINGEMENT

Navigation from both websites (identical):

Internal navigation from both websites (substantially similar):

Navigation, layout and content from both websites (similar):

Content from both websites (substantially similar):

Specific examples of copyrighted text (identical/substantially similar):

More examples of copyrighted text (identical):

Oops, they even forgot to change the company name (identical):

Copyrighted gold bullion photos taken from www.goldsmart.co.nz (identical):

SUMMARY

We could continue ad nauseam with many more examples, however I think you can see how our website including text, images, layout and our registered trademark have been appropriated for use on the ‘Cash4Gold’ website.

  1. Mr Kiss’ claims that “No pictures were used on the website whats (sic) are in the ownership of GoldSmart” is false.
  2. The claim that the ‘FastCash4Gold’ website was taken down due to personal reasons is more likely that they realize they have been caught and couldn’t honestly say they have not breached our copyright or the Fair Trading Act.
  3. Their statement that “We wish it is satisfactiory (sic) by you. In our opinion this matter is now concluded!” is not only arrogant but does not meet our requirements for redress.
  4. We suggest they consult a Barrister of the New Zealand Courts before challenging us to take the matter further. “If you wish to take it to Court, feel free to do so.” They have attempted to deceive New Zealand consumers into thinking their website is our website and we have evidence (as sampled above).

It’s our opinion that it’s clear from the above that ‘FastCash4Gold’ and Mr Balazs Kiss were alert to copyright issues but thought that those issues could be avoided if their new website “does not resemble to (sic) the original text”.

The fastcash4gold.co.nz website infringes Gold Smart’s copyright because it substantially reproduces our website notwithstanding that some minor changes have been made.  The layout, headings and much of the text/images have been copied almost identically.  Any changes that have been made are not significant enough to avoid infringing our copyright.

We will keep you updated on further developments.

Posted in Gold Smart Blog, Interesting News, Pawn Shops | Tagged , , , | Leave a comment

Ezycash Gold Buyers Apology Letter

ezycash-goldbuyers-

'EzyCash Gold Buyers' Apology Letter for Copyright Infringement

[Without Prejudice]

As reported earlier, we take copyright infringement seriously at Gold Smart because of the hard work and time that goes into producing original content. Back in June we discovered that ‘EzyCash Gold Buyers‘ had directly taken copy from our website to theirs – which we reported on and provided images to show examples.

We had our lawyers send them notice to remove any infringing content which they quickly addressed and provided this letter by reply. Overall we appreciate their honestly in admitting to the error, unreserved apology and speed to reply. This is a good approach to take and helped to defuse the situation.

At Gold Smart we take copyright infringement, trademark infringement and ghost-writing seriously. We will continue our ‘name and shame’ policy for anyone who decides to breach the Fair Trading Act and/or our copyright content.

Posted in Gold Buyers, Gold Smart Blog, Pawn Shops | Leave a comment

Caller from Cash Converters: Pretend Customer

cash convertersAs mentioned a few times earlier on our blog, we frequently get calls from Pawn Shops and gold buyers pretending to be customers. Often the reason for these calls is because they are trying to find out our gold rates and other information about our company. We find it amusing and silly that they don’t have enough work to keep themselves busy and find it necessary to call us, attempting to find out what makes us successful.

We had one such call from a lady at 11:54am today saying that she wanted to sell some gold and was asking about our rates. She said, “I’ve been to Cash Converters and their rates are really low, and they are not going to pay me anything. However I need to sell quickly so I wanted to check your rates.” She was quite pushy for information and seemed to be in a hurry to sell her jewellery (never a good sign).

As we were outside the office, we offered to call back when I had current rates on hand, however she was then in a hurry to end the call (not a good sign either). When back in the office, we found the number and could see that she was calling from the Cash Converters, Lower Hutt outlet (no surprise there).

Not only was the dishonest caller pretending to be a genuine customer and wasting everyone’s time, but her comment about their own rates was quite funny.

We’ll let you be the judge – wouldn’t you rather deal with a company that focuses more on their customers rather than their competitors?

Posted in Gold Smart Blog, Pawn Shops | Leave a comment

EzyCash Gold Buyers Engaged in Copyright Infringement

Ezycash Loans and Gold Buyers, Panmure, Auckland – www.ezygoldbuyers.co.nz have been found illegally copying content from our website. “Ezycash Gold Buyers” based at 30B Jellicoe Road, Panmure, Auckland East, have taken text from our website, changed our company name to theirs and called the information their own.

See the below image for an example taken from their website showing copyright infringement by “Ezycash” of our website text and articles:

ezycash goldbuyers copyright theft

It’s disappointing when gold buying competitors decide to copy our original content and it has been mentioned before on our blog, yet this is the most blatant infringement of copyright we’ve yet seen from another New Zealand gold buying company.

Copyright infringement is a serious issue and one we consider dishonest, illegal and unethical. We have written to “EzyCash” to make them aware of our ownership of this content, and the appropriate responses expected.

This is the same company that offers to lend money at 360% interest per annum (so are we surprised?) – see their “Lending Terms & Conditions” for more details.

It’s quite hard to find any clear information about who “Ezycash Gold Buyers” are. Even with a search of the Companies Register and their website there is a lack of clarity as to the legal ownership of this business – very strange.

See here for an example of the various “EzyCash” entities that have been registered in New Zealand – Search the New Zealand Companies Office If you have any information about the ownership of www.ezygoldbuyers.co.nz website, we’d be keen to hear from you as we have a case to take further action against these mysterious individuals.

As Gold Smart customers will be aware, “Pawn Shops” are known know for being places that most people don’t like to go and there’s a very negative public perception about the type of business that lends money at predatory rates. You need to listen to your “gut” and if you feel uncomfortable then there’s probably a very good reason to avoid places that make you feel that way.

Be smart, ask around, check out our testimonials from customers that have already done the research for you and found Gold Smart to be the best choice.

EzyCash” decided that it was easier to copy our original content and ideas than to create their own.  Would you want do business with people like that? If someone is comfortable acting in this manner, what else are they capable of?

We have suggested all illegally taken content be removed immediately and will keep you informed as to “Ezycash’s” response to our notice to cease and desist from infringing on our copyright.

It’s our strong advice that gold sellers do homework on who are the legitimate, honest and reputable traders that exist in New Zealand.

Posted in Gold Buyers, Gold Smart Blog, Interesting News, Pawn Shops | Leave a comment

Cash Loans for Gold? Beware ‘Loan Sharks’

Evil. That’s what we’d call anyone making loans on gold and silver jewellery – commonly referred to others as “loan sharks”. These predatory companies have infiltrated New Zealand society and exploit struggling families.

With the current environment of rising prices (food, petrol, energy, etc) many are in desperate and vulnerable states that loan sharks will happily prey upon. Whilst these types of companies have to follow current NZ Law, many people taking out loans don’t understand the terms and conditions, and in many cases English is a second language – making comprehension of binding legal contracts even harder to understand.

One loan shark posing as a gold buyer states on their website that they charge over 400% per annum! Who in their right mind would think that’s a fair deal?

This has become such an issue that there’s now a “Community Alliance Against Loan Sharks” campaign that’s just been launched by the Labour Party with the aim of being an advocate for consumers.

Launching a community alliance against loan shark exploitation today Carol Beaumont said: “Kiwi families all around the country are having to make terrible choices between putting food on the table, or putting gas in the car, or taking the children to the doctor.”

“In an environment where rising costs are putting families on the brink of despair loan sharks are at the ready and open for business,” Carol Beaumont said.

“Today community groups including the Salvation Army, the NZ Federation of Family Budgeting Services, FINSEC, The Child poverty Action group, The New Zealand Association of Credit Unions and budgeting expert Darryl Evans gathered to re-launch the anti-loan shark campaign with a community focus.

It will be interesting to see what effect this has on changing the practice of cash loans, “pay-day advances”, cash for gold, loan your gold, etc in New Zealand. Hopefully this action will result in greater government regulation, especially for those targeting lower socio-economic areas.

If you are thinking of selling gold then choose NOT to support these types of predatory companies – only sell gold to dedicated  and professional gold buying companies like GOLD SMART. With pride, we DON’T make loans.

Posted in Gold Smart Blog, Pawn Shops | Leave a comment

Need a Cash Loan? Just Say No!

Pawnbrokers say "You Can Trust Us..." - what do you think?

Cash loans with high interest rates and payday advances are dangerous traps designed to catch the vulnerable and desperate. Companies that offer loans using your jewellery as security have the odds stacked in their favor because of the terms they use and the interest rates they charge.

In New Zealand there have been many cases where ‘Pawn Shops’ have been charged because their annual interest rates differed from that disclosed in their loan documentation. Breaches of the “Contracts and Consumer Finance Act (CCCF Act) and the Fair Trading Act” are serious and clearly show a premeditated approach to defrauding New Zealanders. Those who seek to take loans from pawnbrokers and payday lenders can be particularly vulnerable due to financial stress.

Anyone that thinks they have signed something that was misrepresented or their rights under the Act have been breached, should make a claim to the Commerce Commission.

Posted in Gold Smart Blog, Pawn Shops | Leave a comment

Gold Buyers

Mmm, gold… gold has been held up for a long time as something precious, a rare commodity and something that Pirates love to seek – Gold Treasure!

Gold Jewellery because of it’s precious metal content has value beyond how nice and pretty the manufacturing may be. And often that can mean even more cash for your old, damaged and out-of-style gold jewellery. When you are considering to sell gold jewellery the most important thing to consider is – where to sell gold jewellery?

In New Zealand there are a few options when selling gold that customers should be aware of because most people don’t want to be ripped off and treated badly. At Gold Smart we’ve heard so many unfortunate stories from customers about selling gold jewellery to other companies that nothing much surprises us!

Just because a company is advertising that they pay the best rates, does not actually mean they pay the best rates!

Customers say the last place they wanted to sell gold was a Pawn Shop because they are used to dealing with people that are desperate for cash and offer the equivalent service. These types of situations are unfortunate because these people will often take whatever they are offered because they need the money urgently. This is very similar to the companies that offer loans, pawnbroking, advances on salaries, finance and so on – all designed to take advantage of the desperate and vulnerable.

Who you sell to is also a very important choice because you want to know you are selling gold to a 100% New Zealand Owned Company and that the income generated stays in New Zealand to benefit the local economy. Any company that’s not 100% NZ owned will have overseas interests and will likely be sending profits out of this country to benefit wealthy people that don’t care about the people of Aotearoa.

When you Sell gold to Kiwi companies that employ Kiwis and retain all profits in New Zealand the whole country benefits.

The next point to consider when you want to sell gold jewellery is how private and confidential is the service. Do you want other people looking over your shoulder and seeing you sell the family gold? Will you feel comfortable selling your gold to a teenager that clearly is not an expert in precious metals? Do you trust someone that offers loans to vulnerable people? Do you feel safe taking your gold jewellery to a public place?

At Gold Smart we offer complete and total security, privacy and comfort!

Cash! Who doesn’t like cash for gold? At Gold Smart we don’t have the large overheads of shops or kiosks in shopping malls so we can pay more for your gold jewellery! Enjoy the benefits of high rates for your gold today.

Call 0800-GOLD SMART (0800-465-376) Now to see how you can get cash for your unwanted GOLD JEWELLERY!

Posted in Gold Buyers, Gold Smart Blog, Pawn Shops, Selling Gold | Leave a comment

Gold Buyers and Gold Prices – How to Spot a ‘Gold Imitator’

It’s interesting when you lead from the front because others tend to follow and as we’ve experienced – competitors simply try to copy Gold Smart!

As the old saying goes leaders lead and followers follow… and when you are unable to lead you are forced to follow – stuck as an imitator. Some companies that offer to buy gold in New Zealand simply look at what others do well and try to copy them. This may be seen as a quick way to make up for lost ground, however they will never lead and be seen by customers as less than genuine.

As with the Gold Smart name, philosophy, brand, values, reputation and loyal customer base – you need to think independently to succeed. We’ve been fortunate to have a multi-talented and creative team focused on building unique customer experiences. It goes without saying that a “leopard can’t change it’s spots” however much they try… if the core values of a company are not aligned with what they are trying to tell customers about their services it will be incongruent and easily recognised.

"Beware of Wolves in Sheep's Clothing"

Like a Wolf in Sheep’s clothing they can’t say they will provide honest transactions and that they care about the customer when their actions show the opposite is true. Customers can see through the deception.

Being Gold Buyers in New Zealand the team at Gold Smart has had to be very innovative and creative in our marketing and branding. And it’s quite flattering when competitors attempt to imitate us – in some cases:

  1. Stealing our text copy (word for word)
  2. Using similar photography and design
  3. Calling us pretending to be customers trying to find out information and
  4. in other cases actually sending “spies” to us under the false pretense of being genuine gold sellers!

Apart from wasting our time and theirs it shows a lack of initiative, dishonesty and laziness!

Gold Smart really does think differently and if you’d like to experience our amazing customer service – please call today 0800-GOLD SMART (0800 465-376)

Posted in Gold Buyers, Gold Smart Blog, Pawn Shops, Selling Gold | Leave a comment