Retailers give consumers a way to spread out payments in these hard economic times.

The layaway program is making a comeback at many retail stores as credit is tightened and budgets are squeezed. Walmart, Toys “R” Us, Sears, Kmart and Best Buy are just some of the brands offering consumers a way to space out their payments in the current climate of economic insecurity.

Layaway usually requires people to make a down payment of 10-25% of the total item cost plus a service fee, then the remaining interest-free payments are spaced out over a number of weeks. Once the final payment has been made, the product can be picked up from the store.

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