KOKOMO, Ind. —
The rules differ with each program. Down payments vary, as do rules about what happens when shoppers miss payments or a layaway is cancelled. Some layaway programs are offered only during the holiday seasons, and some are year-round. Some restrict the types of items available for layaway.
Feinberg advises consumers to read the fine print before enrolling in any program.
On the positive side, layaway rids shoppers of the anxiety of seeing something go out of stock before they can buy it.
Kylie Taylor used Walmart's layaway to buy toys for her son to make sure they wouldn't be gone later.
“I didn’t want to have to worry about Black Friday and running out," she said.
Megan Graham is a business reporter for the Kokomo, Ind., Tribune.