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Layaway plans have zero impact on your credit scores. The store does not check your credit report to see if you qualify, so a hard inquiry won’t be posted on your credit report, and a layaway agreement won’t show up as positive payment history. … Late payments won’t hurt yourRead More →

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As with any financial decision, there can be drawbacks to using layaway. First of all, you need to make sure that you can afford the payments. Layaway is a waste of time if you won’t be able to make the weekly payments required to pay for your item. Plus, youRead More →