Christmas layaways

[tbubster]

So growing up we were what some called poor.I remember how on christmas mornings their were sometimes very little under the tree.One of the ways my mother made sure their were always some gifts under the tree was layaway.It used to be almost every store had layaway.Now the only big one left to have it year round is Kmart.Wal-mart is bringing it back for christmas.

Layaway is a great way for familys of all income levels to plan a decent christmas for their kids.My sister does this not that she has to.She puts it like this,She can give her kids a very good christmas and cover it over the year instead of waiting till the "Holidays" to start spending.She says why wait till then what if something major happens that cost alot to fix?There goes christmas.

Most all places that do still use layaway charge a one time fee when you first put stuff on layaway of 5 dollars.Now for say a family of 5 that has no credit cards 5 dollars is a very cheap fee to pay one time to put say 1000 dollars worth of toy/clothes on layaway.Yet this democrat senator seems to think this is an unfair amount to charge.He wants stores to make it more clear their fees.Well how much more clear can it get then a one time fee of 5 dollars and a 10% down payment.He is wanting people to belive that the 5 dollar fee is more then what credit card companys charge for interest rates.One of the things Schumer is trying to say is it is 5 dollars a item and its not it is 5 dollars for the total cost of the layaway.He is even threating them with going to the Federal Trade Commission.

http://news.yahoo.com/apnewsbreak-senator-warns-layaways-cost-131026072.html

This guy is nuts and a Democrat.Just one more reason to be a republican.Of course there is always the fact how he seems to imply that using credit cards would be cheaper.Which is just a back door way of telling people to go further in debt to the banks.

 

[greg334]

You know Shumer has a point, his reelection money comes from Visa and Master Card and the banks so why not attack the companies that offer the service to their customers?

 

[Turtle]

Clearly, Schumer has never put anything on layaway, or even read a layaway contract. I've never put anything on layaway, but I know how they work. You pay a $5 fee to open the layaway account, put down a percentage of the item(s) as a down payment, and then pay it off over a specified time with no added interest to the payments. So, if you put something on layaway that costs $100, you end up paying $105 for it.

Try as I will, I cannot figure out how such a plan is, "nothing more than hideaways for sky-high interest rates that consumers would never tolerate with a credit card," Schumer said.

Is Schumer, and his entire staff, really that stoopid? That stupid to (a) believe what he's shoveling, and (b) to think that those who use or understand layaway don't know he's full of what he's shoveling?