he fell behind two and going on three if he cathces up can they still pick up the tv?
2007-09-06 08:21:58 · 35 answers · asked by hello1 1 in Business & Finance ➔ Renting & Real Estate
I use to work for one of those rent-to-repo rip-off places 20 years ago, and they are still in the same business to rip people off from those who cannot qualify for credit or who cannot afford to buy a tv-in cash.
Yes, they can and will pick up the tv. Even if you're late one day after the payment is due. Read the contract. It's there, they make sure that statement says it on the contract. They will probably make him pay for the late fees, and maybe even fees for someone coming to put a note on his door about making a payment or picking up the past due payment. Is he renting to own or renting the tv for a few months because his is in the shop? Even after renting the tv for only a few months, he would of already paid for one. Better to go without the tv for a few months and save the money so he can buy one in cash.
2007-09-06 08:29:07 · answer #1 · answered by metalgods 4 · 1⤊ 0⤋
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2016-07-19 00:05:22 · answer #2 · answered by ? 3 · 0⤊ 0⤋
He obviously can't afford the TV and is living beyond his means. What is the brand and model of the TV. Did he look up the best outright purchase price of this TV or a similar one and compare that to what he will pay for it through the rent to own place? the better deal would be to save and buy a TV when he has enough money.
Your question can be answered from the contract he signed with the rent to own place.
2007-09-06 08:30:32 · answer #3 · answered by Anonymous · 1⤊ 0⤋
If he's making an attempt to catch up, probably not. It's really up to them though.
The thing is - your brother is paying SO much more for that tv than it'll ever be worth! It might be better if he bought a cheap little tv from Wal Mart and then took the money he was spending on the rental & saved it so he could pay cash for the tv he really wants. Just a suggestion. I know sometimes we want things NOW when we can't afford them, but that comes at a great price.
2007-09-06 08:32:01 · answer #4 · answered by Roland'sMommy 6 · 1⤊ 0⤋
they would like for him to keep renting the TV, so if he catches up they will probably allow him to keep the TV. Your brother would be better off letting them take it, then putting the money into savings for a few months. He could then buy his own TV without the stress of making payments on it, and he would spend much less.
2007-09-06 08:30:53 · answer #5 · answered by theinfalliblenena 4 · 1⤊ 0⤋
Yes they can pick it up because he is that late with the payments. If he wants to keep it they might charge him a late charge plus the late payments he owes. Those rent places are really a rip off, if you sit down and figure it out, your paying almost 3 times what he would of paid for it in a dept store.
2007-09-06 08:30:11 · answer #6 · answered by softbird50 1 · 1⤊ 0⤋
At RTO rents where I used to work 3 maybe depends how bad the credit is for the rest of the store 4 for sure we're coming.
It is complicated you need to keep a certain amount of credit 5% late and like 1% 2 or more weeks, otherwise you get fired.
He needs to get down and pay ASAP and also find a way to be currecnt because he if fails back again and well one addresses it, it could be their job.
2007-09-06 08:31:48 · answer #7 · answered by Anonymous · 1⤊ 0⤋
I'll have to agree with jellybean, she's right. it all depends on the contract he's got with this place, some places will allow you to fall back a month or two, some wont even give you an extra day, read the fine print or don't be afraid to call them maybe they can setup some sorta arrangement for him, you never know.
and next time please advise against rent-to-own, there is no real benefit to come from rent-to-own....
2007-09-06 08:31:57 · answer #8 · answered by Anonymous · 1⤊ 0⤋
Read the fine print, by the time you pay off a tv, or any item from those places, the price is 3 times what you could buy it for, at Walmart, or any other place. I'm suprised they are allowed to still operate.
2007-09-06 08:31:48 · answer #9 · answered by Joan H 6 · 1⤊ 0⤋
I'm sure they won't.... BUT, it is stupid to buy rent-to-own. You end up paying 3 or 4 times what the item is worth.
You could probably save for just a couple of weeks and just pay cash for the item.
I did the same when I was very young (18-19), but it is a waste of hard earned money.
2007-09-06 08:30:19 · answer #10 · answered by nite_angelica 7 · 1⤊ 0⤋