8 Things You Need to Know About Layaway

layaway large 150x150 8 Things You Need to Know About LayawayThe down economy along with the high-unemployment rate is probably a good factor in why layaway programs have made a resurgence.

“Layaway never completely went away,” says Daniel Butler, vice president of retail operations for the National Retail Federation.

For many smaller retailers, especially those in rural locations, layaway has always been “a way they could service their community and be competitive,” he says.

Considering layaway? Here are eight things you need to know from Bankrate.com.

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