Why not lease it and Sears

[mountanddo]

Does anyone have any experience with this and would you be allowed to do this while in a Chapter 13?

http://www.whynotleaseit.com/sears/?lid=hero_learn_more&rioptype=SC&sid=IOx20130515SRSFSVXXXx0575707x2002630xSY2WMOVED&eml=199644722&ruid=2002630#

[despritfreya]

Rent-to-own/leasing a small appliance like a fridge or TV costs hundreds more than just purchasing the item for cash. It is a rip off. And, quite frankly, if you don't have the cash to purchase such an item you should not be buying it. If the purchase is a necessity (fridge broke and can't be fixed), ask the Court to waive a few payments so you can pay cash. If is not a necessity then you can live without it until you save enough to purchase it for cash.

Now, will a court approve such a lease. . . maybe, maybe not. The Judge or trustee may look at you, like I did, and say “are you serious. . .”

Des.

[Pjmax]

Things like refrigerators, ranges, etc. can be found for cheap if you look for them. Many people remodel their kitchens and want the latest and greatest appliances. Nothing wrong with the ones they are replacing. Our fridge was about $100, Jennair cooktop and GE Profile double wall oven $300 for both. Just watch your newspaper ads and Craigslist. Oh, and a $3000 tempurpedic mattress set, a month old, $250 (my roommate found this.)

If there is something you need, keep looking. Those shiny NEW things can always be acquired LATER, when you can save for it.

[murph996]

The example on the page you linked...

$300 TV is costing you $415 20 weeks later. By my calculations that's roughly a 99% APR, best case.

More than likely 20 weeks rolls by, and rather than make a large payment, it will seem easier to continue making the small payment, and the deal would get worse.

I agree with checking Craigslist. I needed a lawnmower and got a fantastic deal on a slightly used one - paid $100.

I am not criticizing - I made much worse mistakes leadintg up to bankruptcy than this would be. But these companies pray on people like us. Please avoid this.

[magic13]

I think more important who is "whynotleaseit" they are independent of Sears. Why did they market to you. I just got this email myself and it offends me. Whatever list they are pulling from to offer stuff like this I want off of it.

[mountanddo]

I actually wasn't going to do it. They are promoting it to improve your credit and was simply curious if this actually would improve your credit.

[Pjmax]

First Premier (famously known a while back for 79% interest, now 39%) says that too. There are less costly ways to improve your credit.