Layaway Is Making A Comeback - 11/1/2008

A popular service that used to help people shop conveniently is making a comeback, layaway. The latest statistics from the federal reserve reveal that the average American family has obtained around eight-thousand dollars in credit card debt. Kathy Knox store manager at the Lima K-Mart says avoiding those high interest payments associated with credit cards is important to most people. That's why she thinks layaway is a better option especially with the holidays right around the corner. K-Mart is one a few stores that kept their layaway plan available for customers. Their 8-week payment plans requires only 10 percent down, a five dollar layaway fee and ten dollar cancellation charge which doesn't seem like a bad deal when compared to credit card interest payments.