Life happens. At any time, you can contact your store to schedule a return of your product or return the merchandise in person and pause your payments. When you're ready, you can come back, reinstate your agreement to get the same or comparable item, and pick up your payments right where you left off.
What happens if you dont pay back Rent-A-Center?
Every payment you make at Rent-A-Center is fully protected. If you don't pay and you don't return the item, then the entire amount of the item becomes due, and is sent to collections.
What happens when Rent-A-Center presses charges?
Rent A Center can refuse your return if the merchandise is garbage and you will have to buy out your contract. Criminal charges will land you in jail. You will be charged with theft by deception which is a felony punishable with jail time, and can even be considered grand theft if fair market value exceeds $1000.
Can I get my money back from Rent-A-Center?
Unfortunately, Rent-A-Center doesn't give refunds to its customers. ... If you return your product before you reach ownership, Rent-A-Center will give you a payment protection voucher, which won't allow your payments to go to waste. You'll be able to restart your agreement whenever you're ready within the next two years.
Is Rent-A-Center good for your credit?
No, Rent-A-Center will not help you build credit, as the company's pay-to-own model does not require a credit check or specifically involve borrowing money. ... Collections accounts and court judgments would manifest themselves as “derogatory marks” on your credit report and do considerable damage to your credit score.Sep 13, 2016
What happens if you move without telling Rent-A-Center?
It varies by state, but we can file civil or criminal charges depending on the situation. In a civil case, you are ordered to pay all back rent, and either remaining rent or return merchandise in GOOD CONDITION.
Is Rent-A-Center a good investment?
Is Rent-A-Center a buy right now? 5 Wall Street analysts have issued "buy," "hold," and "sell" ratings for Rent-A-Center in the last year. There are currently 4 buy ratings and 1 strong buy rating for the stock. The consensus among Wall Street analysts is that investors should "buy" Rent-A-Center stock.
Why is it bad to rent-to-own?
Rent-to-own homes come with a significant risk to buyers. If the owner of the property gets foreclosed on, you're going to be forced to leave. The contract with be forfeited, and you'll have to buy the home from the bank. You may be able to get approved for a home even with bad credit.
Is rent-to-own trustworthy?
But are rent-to-own houses legit? Yes — but there are aspects of these deals that buyers need to be alert to, like tricky contracts and the possibility of losing money, says David Mele, president of Homes.com.Sep 24, 2018
Do you lose money on rent-to-own?
In a rent-to-own contract, you pay a bit more in rent than the fair market value. This extra money then becomes your down payment at the end of the lease. ... If you don't buy the property at the end of the lease, you lose your extra payments.
Is rent-to-own really a thing?
A rent-to-own agreement is a deal in which you commit to renting a property for a specific period of time, with the option of buying it before the lease runs out. Rent-to-own agreements include a standard lease agreement and also an option to buy the property at a later time.
Can you go to jail for not returning rental furniture?
The short answer is yes. You could be arrested on a warrant and go to jail for this. It sounds like you may be charged for failure to return leased property, or possibly theft.
What happens if you don't return a rented item?
You would be, essentially, stealing the vehicle and you could be charged with theft. ... Many rental companies will threaten, and/or follow through with, felony theft charges within a week of unpaid fees if you fail to return the item.Jul 16, 2021