Jump to content

Please consider disabling your adblocker for CreditBoards if you have not already done so.  This site depends on advertising revenue to stay online.


Sign in to follow this  

Rent to own companies

The last post in this topic was posted 1763 days ago. 

 

We strongly encourage you to start a new post instead of replying to this one.

Recommended Posts

Good evening fellow credit boarders. I used to be on here quite a bit and learned a lot. Not sure this is the right forum for this question but I told a friend I would ask. She currently has been RTO a living room set from Rent-One which is a RTO company. She has fallen about 18 days behind on her monthly payment. She did tell them she was going to pay this last Friday but was unable to. They have came 2 times to her place of employment and given one of her bosses a "door hanger" which states 18 and also checked of need to discuss account and pickup property. She did not tell them they could not come to her job the last time she talked to them. I have searched a little but did not have a good explanation of whether this is legal or not or if they are breaking some sort of laws. Any help would be great I could give her even if its just advice. If this is not the correct place I am sorry but knew there are some very knowledgeable people on here.

 

Thanks

Share this post


Link to post
Share on other sites

Since it's a rental contract and not a sale there's different rules, and I think that's how these RTO's like Aarons etc get around the usury laws. As long as they don't break down her door or break into her dwelling to take the furniture then it's legal. Giving the boss a notice telling the boss about the employee's financial problems would be a privacy issue.

 

If "your friend" isn't too far into the RTO contract - break it, have them come get the crap and go on Craigslist, Salvation Army, or Goodwill and buy/get some furniture. It may not match but you're not paying somewhere around 99% "interest" either.

Share this post


Link to post
Share on other sites

  • Yes they do seem to be. And yes I understand she is behind on payments but just kinda thought going to place of employment was a little more than normal

Share this post


Link to post
Share on other sites

RTO places like Aaron's are, to put it mildly, MASSIVE RIPOFFS. You'd be better off getting some cheap second hand furniture off Craigslist, saving your $$$, or, if your credit is halfway decent, getting a credit card at Ashley or Rooms To Go. As long as you make sure to pay off the balance at least a month before the 0% promo period ends, it's a good deal. Of course, most people who use RTO places have bad credit, so they have few options. RTO places end up costing you double or triple the normal price of the furniture or appliances. Run away...far, far away...

 

Share this post


Link to post
Share on other sites

I got a friend who's worked in the RTO business for years. After so many days, they just go to the courts and have someone served.......Either pay the bill or turn in the merchandise (voluntary repo) by a certain date.

Share this post


Link to post
Share on other sites

I used to serve papers for this company that would "rent" cool rims for your ride. First, I think if you find yourself renting rims for you car it's a problem, and they would get sued and the most often place they would get served is at work.

Share this post


Link to post
Share on other sites

RTO places like Aaron's are, to put it mildly, MASSIVE RIPOFFS. You'd be better off getting some cheap second hand furniture off Craigslist, saving your $$$, or, if your credit is halfway decent, getting a credit card at Ashley or Rooms To Go. As long as you make sure to pay off the balance at least a month before the 0% promo period ends, it's a good deal. Of course, most people who use RTO places have bad credit, so they have few options. RTO places end up costing you double or triple the normal price of the furniture or appliances. Run away...far, far away...

 

THIS!!!

Share this post


Link to post
Share on other sites

 

  • Yes they do seem to be. And yes I understand she is behind on payments but just kinda thought going to place of employment was a little more than normal

Sometimes shaming works. Sometimes not. Either way your coworkers now know you possibly have money issues.

 

I'd go crawl under a rock if it happened to me.

Share this post


Link to post
Share on other sites

The Original Creditor (RTO Company) is not bound by the FDCPA.

 

What is the state? We could check for any applicable laws.

 

Possible Solution:

Discretely discuss the matter with an immediate trusted supervisor. Give brief facts that you are working out a payment arrangement, and feel the on site visits are disruptive to your work. Have the supervisor fax or send a letter to the RTO company that their visits are a disruption to business operations. The letter should include a statement that if they return, a complaint will be filed with the state attorney general.

 

(I've suggested this to many others, and it has worked each time.) I don't know too many creditors that actually show up at an individual's place of employment, (very old school) but locally here in TX there are a couple of auto dealers who do. They do their own sales and financing. The AG statement in the letters put a stop to the job pop ups. *I think now they just started using devices that actually disable the cars if you are late with a payment.

Edited by tmcgill

Share this post


Link to post
Share on other sites

The Original Creditor (RTO Company) is not bound by the FDCPA.

 

What is the state? We could check for any applicable laws.

 

Possible Solution:

Discretely discuss the matter with an immediate trusted supervisor. Give brief facts that you are working out a payment arrangement, and feel the on site visits are disruptive to your work. Have the supervisor fax or send a letter to the RTO company that their visits are a disruption to business operations. The letter should include a statement that if they return, a complaint will be filed with the state attorney general.

 

(I've suggested this to many others, and it has worked each time.)

 

Heh...unexpected workplace visits like that was something I didn't have to worry about back in the day, because my office was in the A Ring of the Pentagon. :grin:

 

Of course, I'd never, ever use a RTO place, anyway, so the question is moot.

Share this post


Link to post
Share on other sites

Yep, I agree. In these times, very moot. Plus, something outside collectors know is legally prohibited.

Share this post


Link to post
Share on other sites

The Original Creditor (RTO Company) is not bound by the FDCPA.

 

What is the state? We could check for any applicable laws.

 

Possible Solution:

Discretely discuss the matter with an immediate trusted supervisor. Give brief facts that you are working out a payment arrangement, and feel the on site visits are disruptive to your work. Have the supervisor fax or send a letter to the RTO company that their visits are a disruption to business operations. The letter should include a statement that if they return, a complaint will be filed with the state attorney general.

 

(I've suggested this to many others, and it has worked each time.) I don't know too many creditors that actually show up at an individual's place of employment, (very old school) but locally here in TX there are a couple of auto dealers who do. They do their own sales and financing. The AG statement in the letters put a stop to the job pop ups. *I think now they just started using devices that actually disable the cars if you are late with a payment.

I heard of somebody once who got stranded out of town because the car got disabled for non payment. The buy here pay here lots where I live use such devices.

 

It ain't no joke, if you dont pay that note.

Share this post


Link to post
Share on other sites

 

The Original Creditor (RTO Company) is not bound by the FDCPA.

 

What is the state? We could check for any applicable laws.

 

Possible Solution:

Discretely discuss the matter with an immediate trusted supervisor. Give brief facts that you are working out a payment arrangement, and feel the on site visits are disruptive to your work. Have the supervisor fax or send a letter to the RTO company that their visits are a disruption to business operations. The letter should include a statement that if they return, a complaint will be filed with the state attorney general.

 

(I've suggested this to many others, and it has worked each time.) I don't know too many creditors that actually show up at an individual's place of employment, (very old school) but locally here in TX there are a couple of auto dealers who do. They do their own sales and financing. The AG statement in the letters put a stop to the job pop ups. *I think now they just started using devices that actually disable the cars if you are late with a payment.

I heard of somebody once who got stranded out of town because the car got disabled for non payment. The buy here pay here lots where I live use such devices.

 

It ain't no joke, if you dont pay that note.

 

 

It would probably not be too difficult for someone with even moderate technical ability to bypass such devices, but folks like that generally have good jobs and don't miss car payments. :grin:

Share this post


Link to post
Share on other sites

 

 

  • Yes they do seem to be. And yes I understand she is behind on payments but just kinda thought going to place of employment was a little more than normal

Sometimes shaming works. Sometimes not. Either way your coworkers now know you possibly have money issues.

 

I'd go crawl under a rock if it happened to me.

 

 

Back in the 80's I hadn't filed returns for several years. Paid taxes but just hated the paperwork. One day the HR person dropped by with an order by the Franchise Tax Board (CA's tax authority) with a wage garnishment order. So funny. I changed my payroll withholding to have my entire wages withheld and go to the feds leaving nothing for the state to get. No doubt it was the subject of much gossip. I didn't really feel embarrassed though but then I was the majority stockholder. Being such a flake personally, I was a stickler when it came to the corporate finances and making sure those were handled properly. Basic rule: don't do what you suck at. We had a great CFO that made sure everything corporate was by the book.

 

At the time CA had a ridiculous policy that ignored any taxes withheld so they had incredible default assessments, It was a hold over from years before when CA had no income tax withholding. I eventually filed all my returns when CA had an amnesty program and they have since changed their policy.

 

In my experience employees don't care if someone else has debt issues. They care if they do. Usually.

Share this post


Link to post
Share on other sites

The last post in this topic was posted 1763 days ago. 

 

We strongly encourage you to start a new post instead of replying to this one.

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Sign in to follow this  




  • Member Statistics

    • Total Members
      179,622
    • Most Online
      2,046

    Newest Member
    Moriarty753
    Joined

About Us

Since 2003, creditboards.com has helped thousands of people repair their credit, force abusive collection agents to follow the law, ensure proper reporting by credit reporting agencies, and provided financial education to help avoid the pitfalls that can lead to negative tradelines.
×
×
  • Create New...

Important Information

Guidelines