Page 65 - Book6E

• What Else Can You Do? Remember, until you finish paying for the layaway item, the retailer has your money and the mer- chandise. If the store goes bankrupt while you are still paying, your money and the merchandise may be lost. To help avoid this, and to find out if there are any
complaints against the store, check the
store’s reputation with your local Better
Business Bureau or consumer protec-
tion agency before you buy merchan-
dise on layaway. In addition, if you
have not shopped in that store before,
you might start out by purchasing a
relatively inexpensive item on its layaway plan. Also, to avoid any confusion, keep good records of the payments you make on the layaway merchandise. Then, when each installment is due, you will have a reminder of the payments made. These records may be useful later if you have any disputes with the store.
• What Laws Protect You? There is no federal law that specifically governs layaway plans. The Federal Trade Commission Act, however, makes illegal any unfair or deceptive sales practices
in or affecting commerce. There also may be state or local laws
Layaway Can Be a Smart Way to Pay
When a man is in love or in debt, someone else has the advantage.
— Bill Balance