Many consumers are familiar with the problems of payday loans, including triple-digit interest rates, an ongoing cycle of debt, and a two-week repayment deadline. The Center for Responsible Lending has reported that the typical payday loan borrower is in debt for more than six months with an average of nine payday loan transactions at annual interest rates over 400 percent. In some cases, using the services of a pawn shop may be a viable alternative to payday loans. While payday lenders use future earnings as collateral, a pawn shop accepts something the borrower already owns as collateral and sells it if the loan is not repaid. Unlike with payday lenders, pawn shops do not plunge the customer into a spiral of debt. They do, however, charge steep interest rates; but the rates are usually less than what a payday lender would charge. Pawn shops are highly regulated by each state and cooperate with law enforcement agencies to make sure that items used as collateral are not stolen goods. However, consumers willing to give up their possessions for quick cash may first want to consider selling items on eBay, thus avoiding interest charges at all.