Aarons is a major retailer that provides rent-to-own (RTO) services for furniture, appliances, electronics, and more. If you’re behind on payments, you might be wondering how long it takes for Aarons to repo your items. Read on for more information about Aarons repossession process.
What is the Aarons Repossession Process?
When you sign up for Aarons RTO services, you agree to pay your balance in full within a certain period of time. If you’re unable to pay your balance within the agreed upon time, Aarons will begin the repossession process. This process starts with a letter informing you that your account is in default. Aarons will then contact you by phone to discuss repayment options. If you’re unable to reach a resolution, Aarons will proceed with the repossession process.
Aarons will send out a repossession team to your home to collect the item in question. The repossession team will show you a copy of the repossession letter and will collect the item, either by taking it away or by placing it in storage. Aarons does not need a court order to repossess your items.
How Long Does it Take for Aarons to Repo?
It usually takes between 1-3 weeks for Aarons to repo an item, depending on the situation. If you miss one payment, Aarons might send out the repossession letter in a few days. If you’ve missed multiple payments, it could take up to a few weeks for Aarons to begin the repossession process. However, it’s important to note that Aarons can begin the repossession process at any time, so it’s best to stay on top of your payments.
What if I Can’t Pay My Balance?
If you’re unable to pay your balance, you should contact Aarons as soon as possible. Aarons may be willing to work out a payment plan with you or extend the terms of your contract. You should also consider selling the item or trading it in for a cheaper item. This will help you pay off your balance and avoid repossession.
What Happens After Repossession?
Once your item is repossessed, you’ll still be responsible for paying off the balance. Aarons may sell the item to cover the cost of the balance, but you’ll still be responsible for any remaining balance. You should also be aware that Aarons may report the repossession to the credit bureaus, which could have a negative effect on your credit score.
Frequently Asked Questions
What is Aarons?
Aarons is a major retailer that provides rent-to-own (RTO) services for furniture, appliances, electronics, and more.
How Long Does it Take for Aarons to Repo?
It usually takes between 1-3 weeks for Aarons to repo an item, depending on the situation.
Do I Need a Court Order?
No, Aarons does not need a court order to repossess your items.
What Happens After Repossession?
Once your item is repossessed, you’ll still be responsible for paying off the balance. Aarons may sell the item to cover the cost of the balance, but you’ll still be responsible for any remaining balance.
Can I Avoid Repossession?
Yes, you can avoid repossession by staying on top of your payments. You should also consider selling the item or trading it in for a cheaper item.
What Should I Do if I Can’t Pay My Balance?
If you’re unable to pay your balance, you should contact Aarons as soon as possible. Aarons may be willing to work out a payment plan with you or extend the terms of your contract.
Will Repossession Affect My Credit Score?
Yes, Aarons may report the repossession to the credit bureaus, which could have a negative effect on your credit score.
Does Aarons Offer Payment Plans?
Yes, Aarons may be willing to work out a payment plan with you or extend the terms of your contract.
Conclusion
Aarons repossession process can be a stressful and confusing experience. It usually takes between 1-3 weeks for Aarons to repo an item. You should contact Aarons as soon as possible if you can’t pay your balance. You can also avoid repossession by staying on top of your payments and considering selling or trading in your item. Be aware that Aarons may report the repossession to the credit bureaus, which could have a negative effect on your credit score.