Black Friday: Layaway starts now

Andrea Hermitt
Layaway area at Burlington Coat Factory in White Plains, N.Y.
Layaway area at Burlington Coat Factory in White Plains, N.Y.

National Layaway Week has already come and gone (Oct 4- Oct 8 according to Kmart, which invented the event), a full seven weeks before Black Friday and 11 weeks before Christmas. But it's not too late to do your shopping now and have enough time to make the payments to get your items out of hock by the holidays.

In decades past, layaway programs were designed for people who could not get credit cards, and as credit cards became more available to the masses, layaway became unnecessary. In fact, Walmart ended its layaway program in 2006. Target has never offered a layaway plan. A Target customer service rep told WalletPop the chain will offer a 5% discount on Target card purchases beginning Oct 17.

.