In Governor Walker's budget for the next fiscal year, he is allowing Rent-to-Own companies to operate without disclosing their interest rates.
Typically, rent-to-own companies operate like this. They sell you a $1000 refrigerator on a time payment plan. After six years of paying for the refrigerator, you will finally own it, and you will have paid about $5000 for it. These companies prey on disadvantaged families who cannot get credit through conventional lending companies. In Walker's budget, these companies would be allowed to operate without telling the consumer just how much their financing plan is going to actually cost them.
I understand we live in a predatory society --- survival of the richest at its core. But this is just plain homicide by interest rate.
Here is my advice to people who find themselves in this situation. Go and buy a houseful of furniture from these parasitic companies. Then move. No forwarding address. Use a fake social security number to obtain the credit; preferably that of a long dead relative. I'm telling you to break the law by any possible means to get what you need. These people are breaking a moral code to get your business in the first place. On the streets where I've learned my lessons, fight fire with fire.