Beware of Rent-to-Own

Beware of Credit Offers Aimed at Recent Bankruptcy Filers

Rent-to-own

By renting a TV, furniture or appliance from a rent-to-own company, you will often pay three or four times more than what it would cost to buy.  The company may make even more profit on you because the item you are buying may be previously used and returned.  And if you miss a payment, the company may repossess the item leaving with you no credit for the payments you made.

Source: Using Credit Wisely After Bankruptcy Pamphlet, National Consumer Law Center, Boston, MA, www.nclc.org.