Senator warns of layaway's cost

There are 20 comments on the Nov 13, 2011, Rome News story titled Senator warns of layaway's cost. In it, Rome News reports that:

The return of layaway plans this holiday shopping season is raising concern that the break from credit cards might actually cost consumers far more.

Join the discussion below, or Read more at Rome News.

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Dave

Kissimmee, FL

#1 Nov 13, 2011
This is a shining example of how the gov't screws up everything they touch. Lay aways are for those who don't have credit, fool. They have screwed up debit cards and now want to get involved in lay aways. Senator, fix the debt of the U.S. and leave retail alone,

Since: Aug 07

Location hidden

#2 Nov 13, 2011
I agree. With the salaries that Senators make, what would he know about a layaway plan anyway? Oh yes I forgot, governing is on layaway. I'm still waiting for government to do its job.
Coolpix

Owasso, OK

#3 Nov 13, 2011
Dave wrote:
This is a shining example of how the gov't screws up everything they touch. Lay aways are for those who don't have credit, fool. They have screwed up debit cards and now want to get involved in lay aways. Senator, fix the debt of the U.S. and leave retail alone,
With liberals blocking everything constructive in congress right now and walking out on the super panel, they will fix neither.

Since: Sep 08

Placitas, NM

#4 Nov 13, 2011
Dave wrote:
This is a shining example of how the gov't screws up everything they touch. Lay aways are for those who don't have credit, fool. They have screwed up debit cards and now want to get involved in lay aways. Senator, fix the debt of the U.S. and leave retail alone,
Could you attempt to explain how the Senator's speaking out with a consumer warning and writing a letter screws up anything? The re-emergence of layaway programs are aimed at younger consumers. Many weren't evenborn when layaway was most common in pre-credit card 1960s and '70s. And the "Consumer beware" warning is damn well justified.

Lay-away is nothing more than a marketing scheme to sell more stuff.....regardless of creditworthiness.

BTW: Did the Senator have any facts wrong?

Since: Aug 07

Location hidden

#5 Nov 13, 2011
Actually you answered your own question. You are right, Lay-away does sell more stuff which helps the economy. It keeps jobs, allows retailers to higher more seasonal help, and spreads income around. So layaway is a good thing. With banks stubbornly refusing credit, and high fees on ATM cards, layaway helps people purchase things with cash spread out over months. Some allow 90 days to pay off, but its all done in cash, doesn't affect the credit, and it's a win situation for those families who can only set aside a small amount. I have no idea why this senator is even stepping in, unless he's afraid the economy might grown and help Obama's numbers.
PlacitasRoy wrote:
<quoted text>
Could you attempt to explain how the Senator's speaking out with a consumer warning and writing a letter screws up anything? The re-emergence of layaway programs are aimed at younger consumers. Many weren't evenborn when layaway was most common in pre-credit card 1960s and '70s. And the "Consumer beware" warning is damn well justified.
Lay-away is nothing more than a marketing scheme to sell more stuff.....regardless of creditworthiness.
BTW: Did the Senator have any facts wrong?

Since: Sep 08

Placitas, NM

#6 Nov 13, 2011
I didn't answer my own question. I fail to see how Senator Schumer's warning and writing a letter screws up anything as "Dave" claimed.

Regardless of Schumer's salary, he was a young man during the heydays of lay-away promotions.

Perhaps Senator Schumer issued his warning and wrote the letter because , as past chairman of the Democratic Senatorial Campaign Committee, he feels he has a vested interest in helping the economy continuing to grown and help President Obama being re-elected.

Since: Aug 07

Location hidden

#7 Nov 13, 2011
If Schumer did a little research, retailers like KMart post their fees online and disclose them at the store. The total fee is around $10-$15 over the total purchase. Plus, it's over in about three months. A credit card can charge fees indefinitely if you don't pay it off. I fail to see the panic here. Sounds to me like he's being a sour apple because the banks normally would get those credit card fees. But the banks aren't helping consumers, at least the retailers are trying.
PlacitasRoy wrote:
I didn't answer my own question. I fail to see how Senator Schumer's warning and writing a letter screws up anything as "Dave" claimed.
Regardless of Schumer's salary, he was a young man during the heydays of lay-away promotions.
Perhaps Senator Schumer issued his warning and wrote the letter because , as past chairman of the Democratic Senatorial Campaign Committee, he feels he has a vested interest in helping the economy continuing to grown and help President Obama being re-elected.

Since: Sep 08

Placitas, NM

#8 Nov 13, 2011
"But the banks aren't helping consumers, at least the retailers are trying." Oh really? How so? Nothing new about lay-aways except the retailers brought them and/& are heavily promoting them in an effort to boost sales/profits....not that their is a damn thing wrong with that.

"I fail to see the panic here" or any evidence that it's a "shining example of how the gov't screws up everything" like the mental midget stated at the top of the threat.

Since: May 11

Ballwin, MO

#9 Nov 13, 2011
PlacitasRoy wrote:
I didn't answer my own question. I fail to see how Senator Schumer's warning and writing a letter screws up anything as "Dave" claimed.
Regardless of Schumer's salary, he was a young man during the heydays of lay-away promotions.
Perhaps Senator Schumer issued his warning and wrote the letter because , as past chairman of the Democratic Senatorial Campaign Committee, he feels he has a vested interest in helping the economy continuing to grown and help President Obama being re-elected.
Or, perhaps Senator Schumer was stumped for something to get his name in the paper and face on the 11 o'clock news?
THAT sounds a whole lot more like the slimeball Senator Schumer I've grown to loathe.
Even the SUGGESTION that he's doing something for altruistic reasons is laughable!
Le Jimbo

Broken Arrow, OK

#10 Nov 13, 2011
Either way it is all about screwing costomers out of more money.

Since: Aug 07

Location hidden

#11 Nov 13, 2011
I don't see any problem with the retailers having lay-aways. Wall St. made enough money screwing the consumer - and I'm still waiting for Schumer and the others to do the consumer a favor and reign in the banks. But we know that won't happen. Meanwhile he's whining about layaways? Would he rather people not spend. They were just whining about the slow economy and consumers not spending, now they want to interfere with that. Go interfere with banks so people won't need layaways. Such hypocrisy!
PlacitasRoy wrote:
"But the banks aren't helping consumers, at least the retailers are trying." Oh really? How so? Nothing new about lay-aways except the retailers brought them and/& are heavily promoting them in an effort to boost sales/profits....not that their is a damn thing wrong with that.
"I fail to see the panic here" or any evidence that it's a "shining example of how the gov't screws up everything" like the mental midget stated at the top of the threat.

“Hang 'em High”

Since: Sep 11

Commie Fake, Phony, & Fraud

#12 Nov 13, 2011
horacegreeley wrote:
<quoted text>
Or, perhaps Senator Schumer was stumped for something to get his name in the paper and face on the 11 o'clock news?
THAT sounds a whole lot more like the slimeball Senator Schumer I've grown to loathe.
Even the SUGGESTION that he's doing something for altruistic reasons is laughable!
Schmucky misses his little Weiner protoge.

Since: Mar 11

Location hidden

#16 Nov 14, 2011
Schumer is getting his face in the news again,that is the only thing he is good for.He is so full of himself that he is a standing joke in upstate N.Y..He hasn't done crap for any of us in upstate N.Y. but he sure does tell everyone he has "saved us all".Typical liberal POS.

Since: Sep 08

Placitas, NM

#17 Nov 14, 2011
horacegreeley wrote:
<quoted text>
Or, perhaps Senator Schumer was stumped for something to get his name in the paper and face on the 11 o'clock news?
THAT sounds a whole lot more like the slimeball Senator Schumer I've grown to loathe.
Even the SUGGESTION that he's doing something for altruistic reasons is laughable!
Who made any absurd suggestion about altruism? Damn sure not me.

"Perhaps Senator Schumer issued his warning and wrote the letter because , as past chairman of the Democratic Senatorial Campaign Committee, he feels he has a vested interest in helping the economy continuing to grown and help President Obama being re-elected."

Since: Sep 08

Placitas, NM

#18 Nov 14, 2011
jenny623 wrote:
I don't see any problem with the retailers having lay-aways. Wall St. made enough money screwing the consumer - and I'm still waiting for Schumer and the others to do the consumer a favor and reign in the banks. But we know that won't happen. Meanwhile he's whining about layaways? Would he rather people not spend. They were just whining about the slow economy and consumers not spending, now they want to interfere with that. Go interfere with banks so people won't need layaways. Such hypocrisy!
<quoted text>
"Whining?" How in the hell does advisig consumers of the potential risks/hidden costs and advising retailers to be open and above board with disclosure constitute 'whining?'

What did he proposed that would 'interfere' with consumer spending?

Since: Mar 11

Location hidden

#19 Nov 14, 2011
PlacitasRoy wrote:
<quoted text>
Who made any absurd suggestion about altruism? Damn sure not me.
"Perhaps Senator Schumer issued his warning and wrote the letter because , as past chairman of the Democratic Senatorial Campaign Committee, he feels he has a vested interest in helping the economy continuing to grown and help President Obama being re-elected."
He seems to have a vested interest in hurting growth in upstate N.Y. with all of the stupid laws he pushes.BTW: Obama can't get enough help to stay in office,the people now see what he is all about.One and done.

Since: Mar 10

Location hidden

#20 Nov 14, 2011
If there were never layaways in the past, I probably would never had new shoes or pants growing up. Schumer is attempting to equate a one time fee to an equivalent monthly credit card purchase's interest rate, and this is comparing apples to oranges.

If I remember mom's ramblings correctly, the shoes were fixed in the price, even if they were on sale when she put it on layaway. So later if those same shoes went up in price, her purchase didn't. She could take a year to pay off the item if needed.

Maybe the terms are different in whatever Schumer read - but he is a fool to condemn layaway. And it in no way compares to a credit card.

Since: Aug 07

Location hidden

#21 Nov 15, 2011
Exactly. If he sees a real problem, come up with a solution. Otherwise, leave layaways alone. I don't see him crying about the banks charging high fees and not lending credit to help consumers. He wants to beat up on retailers who hire, imagine that, and have a plan for people to buy things spread out over time. Layways work. But hey, how would he know that? How many layaways has he used?
Rotrow wrote:
If there were never layaways in the past, I probably would never had new shoes or pants growing up. Schumer is attempting to equate a one time fee to an equivalent monthly credit card purchase's interest rate, and this is comparing apples to oranges.
If I remember mom's ramblings correctly, the shoes were fixed in the price, even if they were on sale when she put it on layaway. So later if those same shoes went up in price, her purchase didn't. She could take a year to pay off the item if needed.
Maybe the terms are different in whatever Schumer read - but he is a fool to condemn layaway. And it in no way compares to a credit card.

Since: Sep 08

Placitas, NM

#22 Nov 15, 2011
jenny623 wrote:
Exactly. If he sees a real problem, come up with a solution. Otherwise, leave layaways alone. I don't see him crying about the banks charging high fees and not lending credit to help consumers. He wants to beat up on retailers who hire, imagine that, and have a plan for people to buy things spread out over time. Layways work. But hey, how would he know that? How many layaways has he used?
<quoted text>
You failed to answer the questions:
"Whining?" How in the hell does advisig consumers of the potential risks/hidden costs and advising retailers to be open and above board with disclosure constitute 'whining?'

What did he proposed that would 'interfere' with consumer spending?

“If it ain't broke don't fix it”

Since: Jul 09

Arcadia, LA.

#23 Nov 15, 2011
Queeny Pelosi owns thousands of shares of stock in Visa. Would be interesting to see if Chuckie owns any stock in credit card companies.

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