RENT A CENTER TV $29.99 SCAM OR DEAL? READ THE FINE PRINT & DECIDE FOR YOURSELF
According to Alice Hines (Huffington Post), cash-strapped Super Bowl fans went to Rent-A-Center, America’s largest “rent-to-own” retailer, to purchase what looked like a good deal on a LG 60″ HD TV. The TV was advertised during the Super Bowl pre-game show for $29.99 a week and featured one of my personal favorite athletes, Troy Aikman. Purchasers did not have to make a down payment for the TV and there was no credit check. So what’s the catch?
Well, if you read the fine print you will see that after 104 payments of $29.99 you will have paid over $3,000 for a TV that retails for less than $1,000! To effectively introduce consumer-friendly oversight of the $7 billion industry, the Consumer Financial Protection Bureau would have to succeed where others have failed, explained Margot Saunders, an attorney for the National Consumer Law Center. “The CFPB doesn’t have the authority to regulate unless it makes a finding that the transactions are really not what they seem and that they are really long-term purchase efforts.”
READ MORE OF ALICE HINES’ STORY
Have you been a victim of fraud? Contact consumer protection attorney Micah Adkins 24/7 at 1-800-263-9091 for a free consultation. Our lawyers are licensed to practice law in Alabama, Florida, Georgia, Mississippi, Tennessee, Texas, Virginia and New York.
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