What Is Acceptance Now Rental Agreement

Olivia Quinn is the Virginia woman who says she lost her mortgage, even though she paid twice a room for $990. In 2011, she received the items at a De Kane furniture store in Clearwater, Florida. She believed that Kane had settled the transaction and was not told that she agreed with Acceptance Now. In 2012, after her statements showed she had made payments of nearly $1,500, she called Kane to pay for the account. A Kane official said he would make her credit for the payment, she said. But three years later, a collection agency in Amherst, New York, called to say she owed more than $1,600 to Acceptance Now, she said. She did not associate the debt with her furniture. But because she bought a house and needed good loans, she accepted the company`s transaction offer to the tune of 799 $US, she said. The collector, Huntington Debt Holding LLC, sent her a payment letter that she showed to reporters.

A few months later, while applying for a mortgage, her credit report showed a balance of 1,698 $US. After the investigation, she learned that her Kane furniture had been paid for by the Rent-A centre. Because her mortgage was pending, Quinn spoke to nearly 20 people who were trying to solve the problem, according to the memos she showed reporters. A spokeswoman for Kane told reporters that the company had no record of the transaction. Quinn says Rent-A employees refused to accept the payment letter and asked to pay it directly. Armed with recordings showing that she was paying more than $3,000 for the furniture, more than three times the cash price, she refused. Then she says her mortgage failed. The debt of $1,698 is still on their credit report. NerdWallet journalist Alex Richards and Raycom Media investigative producer Jill Riepenhoff contributed to the report.

Photo by Mike DeWine courtesy of Ohio Attorney General Photo by Leroy Walton by Dustin Chambers Photo of Olivia Quinn by Julia Rendleman Rent-A-Center, a listed company based in Plano, Texas, rented televisions, sofas, washing machines and dryers and other items for weeks or months. As a general rule, customers can terminate their leases at any time and return or pay for the goods until they own the items. The company has two basic business models. It has more than 2,400 stores near low-income neighborhoods and military bases. It also operates as Acceptance Now in nearly 1,300 independent furniture houses, including Ashley Furniture and Rooms to Go. In these showrooms, customers will look for furniture they want, but instead of buying it in store, Acceptance Now buys it for them and rents it back, which removes the store from liability in litigation. Interviews with NerdWallet and Raycom and complaints to supervisory authorities show problems when a client is lagging behind in rent. A missed payment can trigger aggressive responses from staff and correct registration errors, former employees told reporters. Quinn and Walton missed payments and caught up with them.

But their accounts have not been properly credited, they show their accounts. Gonzalez, Gorman and other customers who fell behind in payments were immediately and aggressively harassed. Chris Korst, Executive Director of Rent-A-Center, said in an email that the company takes complaints seriously: “We strive to provide the highest possible customer service, and if we don`t meet those expectations, we`re working as hard to address these issues.” The rental-to-own industry has been controversial for decades, mainly because it is expensive.

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