Installment Plans Used to buy things that cost a lot such as a washing machine or a range. You make a down payment and then pay the balance plus interest on a weekly or monthly basis. If you fail to make a payment the store can repossess the item. You buy the merchandise and the store sends you a bill. If you do not pay the bill in full, an interest charge is added to the next bill.
Some lenders operate outside the law.
They may charge higher interest rates than pawnshops. These lenders often take advantage of people. Institute of Food and Agricultural Sciences. How to Order page.