Moving to a new place can be exciting, but it also comes with its fair share of responsibilities. If you’ve rented furniture or electronics from Rent-A-Center and find yourself in a situation where you need to move and stop paying, it’s important to understand the potential consequences.
What Happens if You Move and Stop Paying Rent a Center
When entering into a rental agreement with Rent-A-Center, it is essential to understand the terms and conditions outlined in the contract. These agreements typically lay out the responsibilities of both the renter (you) and the rental company. Before signing any document, take the time to read through it carefully and ask questions if anything seems unclear.
Rent-A-Center agreements generally specify details such as the duration of the rental period, monthly payment amounts, and late fees. They also outline what items are being rented, their condition at the time of renting, and any additional services or warranties included. Make sure you have a clear understanding of these aspects before committing to a rental.
Consequences of Moving and Stopping Payments
If you decide to move while renting from Rent-A-Center and stop making payments without notifying them or following proper procedures, there can be significant consequences. While each case may vary depending on your specific agreement and state laws, here are some common outcomes:
- Collection Efforts: Rent-A-Center may employ collection agencies to recoup their losses. These agencies might contact you via phone calls or letters in an attempt to recover unpaid amounts.
- Damage to Credit Score: Failing to pay your obligations can negatively impact your credit score. Late payments or defaulting on your rent-to-own agreement can stay on your credit report for years.
- Legal Action: In some cases, Rent-A-Center may choose legal action to recover their property or obtain a judgment against you for outstanding debts.
It’s crucial not only to fulfill your financial obligations but also to communicate with Rent-A-Center if circumstances change that affect your ability to make timely payments.
Options for Resolving Issues with Rent-A-Center
If you find yourself facing difficulties regarding your Rent-A-Center agreement due to a move or financial constraints, there are options available to help resolve these issues:
- Contact Rent-A-Center: Reach out to Rent-A-Center as soon as possible to explain your situation and discuss potential solutions. They may be willing to work with you on alternative payment arrangements or provide guidance on how to proceed.
- Mediation or Arbitration: If you reach an impasse with Rent-A-Center, consider seeking mediation or arbitration services. These methods can help facilitate negotiations between both parties and potentially find a resolution outside of court.
- Legal Assistance: If the situation escalates or you believe your rights have been violated, consulting with an attorney who specializes in consumer law can provide valuable guidance.
Remember, it’s important to address any issues promptly rather than ignoring them, as this could lead to further complications down the line.
Consequences of Moving and Stopping Payments
Moving can be an exciting but challenging time, especially if you have financial obligations like paying rent to Rent-A-Center. However, what happens if you move and stop making payments?
Let’s explore the potential consequences:
- Legal Action: When you sign a rental agreement with Rent-A-Center, you are entering into a legally binding contract. If you move without fulfilling your payment obligations, Rent-A-Center may take legal action against you. This could result in a lawsuit, court fees, and potentially damaging your credit score.
- Late Fees and Penalties: By not paying your rent on time or stopping payments altogether, you may incur late fees and penalties from Rent-A-Center. These additional charges can quickly accumulate and further strain your financial situation.
- Debt Collection Efforts: If you fail to make payments after moving, Rent-A-Center may engage the services of a debt collection agency to recover the outstanding amount. Dealing with persistent collection calls and letters can be stressful and impact your peace of mind.
It’s important to remember that each situation is unique, so outcomes may vary depending on factors such as local laws, specific contractual terms with Rent-A-Center, and individual circumstances.
If you find yourself struggling financially while renting from Rent-A-Center or any other company, I recommend reaching out to them directly to discuss your situation. Open and honest communication can sometimes lead to alternative arrangements or payment plans that may help alleviate some of the financial burden.