A popular payment plan from previous generations continues to make a comeback. The practice has been making a recovery at retail outlets of nearly every size ever since the economy tanked several years ago. It's not too early to start making plans for Christmas shopping, according to a spokesman from the Better Business Bureau.
Buying items on layaway is different from putting them on a credit card because the buyer isn’t charged interest on the purchase and can’t take the item home until it is paid off. The BBB's Bill Smith says before entering into a layaway agreement, there are some questions you should ask.
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Third-party businesses have also sprung up for the purpose of setting up layaway plans online between customers and retailers that don’t already have a layaway program. Smith recommends you get everything in writing.