The Better Business Bureau Offers Advice on Layaway Process

According to a press release from the Better Business Bureau, the current economy has resulted in tight budgets for many families.  As the holiday season approaches, many of you may be searching for ways to pay for higher ticket items without resorting to credit cards.  

Layaway, available now at Walmart, select Best Buys - including the Snellville location - and other major retailers, offers customers a chance to pay for an item in increments.  Stores require an initial deposit, and then accept daily, weekly, or monthly payments.  Once you make your final payment, the item is yours.

If you lack the credit score for credit cards or simply want to avoid racking up more debt, layaway is the perfect solution for you.  

“Layaway services can be a great alternative to the using a credit card,” said Fred T. Elsberry, Jr., president and CEO of the Better Business Bureau Serving Metro Atlanta, Athens & Northeast Georgia in a recent press release. “However, it’s extremely important that customers take note of the fine print and know what to expect.”

When buying items on layaway, BBB advises consumers to "get everything in writing" and offers the following checklist of questions to ask:

• How much time do I have to pay off the item?

• When are the payments due?

• How much do I have to put down?

• Are there any storage or service plan fees?

• What happens if I miss a payment? Are there penalties? Does the item return to inventory?

• Can I get a refund or store credit if I no longer want the item after making a few payments?

• What happens if the item goes on sale after I’ve put it on layaway?

• Does the retailer or third-party layaway service have a good BBB rating?

For more advice on how to be a savvy consumer this holiday season, visit www.bbb.org/us/bbb-news.