11/10/08

BOISE, Idaho (AP) _ Retailers across Idaho say the tightening
credit crunch is bringing back an old fashioned payment method for
the holidays: Layaway.

The pay-over-time strategy was first popularized during the
Great Depression. It essentially allows customers to put a down
payment on regular store buys, then pay them off over time for
little or no extra fees.

The practice had disappeared at many retailers, replaced by
other forms of easy credit available to shoppers. But merchants
across the state, including chains like Kmart and Burlington Coat
Factory say demand for layaway is stronger than ever right now.

Dave Haskin, manager of a Bob's Bicycles store in Boise, says
they've been offering layaway options for customers for 30 years.
He says the payment option really helps people who are struggling
in the economy.

(Copyright 2008 by The Associated Press. All Rights Reserved.)
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