Here’s something I don’t tell many people: I worked in the layaway department of a major department store to support myself while attending college. Even though this was many moons ago, it was an experience I’ve never forgotten.

Why? Many reasons come to mind, but mostly many of the people who used layaway and what they purchased. Or in other words, people who could least afford it buying oodles of clothes, games and stuff. And then they made graduated payments — a little bit every week — until the purchase was paid off.  And then they collected their stuff and went home. But not before putting more items on layaway.

So now some retailers are rolling out layaway again as a payment option. Is it right for you? If so, here are some questions to ask the retailer:

How much time do I have to pay off the item(s)?
When are payments due?
How much do I have to put down?
Are there storage or service-plan fees?
What happens if I miss a payment? Are there penalties? Does the item return to inventory?
Can I get a refund or store credit if I no longer want the item after making a few payments?
What happens if the item goes on sale after I’ve put it on layaway?
Does the retailer or third-party layaway service have a good BBB rating?

Have you ever used layaway?