What is Layaway, and Should You Use It for Black Friday Shopping?

November 25, 2024 – In a NerdWallet article about what to know about layaway and whether this option is the right choice for holiday purchases, Michelle Smoley, director of personal and college finance at Bright Horizons College Coach shares her insights on the topic.

In many cases, “if a consumer cannot make the payments, they forfeit the money and the item they put on layaway,” Michelle Smoley, director of personal and college finance at Bright Horizons College Coach, said in an email. Still, that’s a better outcome than dealing with a debt collector.

Read the full article here.