Wal Mart Cutting Layaway?

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One shopping option we've all become used to, especially during the holidays, won't be an option this year as Wal Mart stores phase out their layaway program.

Volunteer TV's Whitney Daniel talked with Wal Mart customers about the policy change.

A lot of people are shocked about the change, not because it's happening but because of the timing. They say right before the holidays is not the time to phase out layaway. Wal Mart stores said in a statement released in September that because of declining use and increasing costs, the company will cut out the program. Wal Mart sites other spending options like online shopping and gift cards as the reason for a decline in layaway use. However, Wal Mart is working to offer customers new payment options.

The company already has zero interest offers for six and twelve months for current cardholders. For the first time, customers who apply for a new Discover or Wal Mart card at the register will receive 20-dollars cash back on a 100-dollar purchase on their card that day.

"There are a lot of people who don't have credit, can't get credit cards, and they need that opportunity to put their stuff on layaway and make payments on time, especially before the holidays. I think it's really bad timing on their part," Wal Mart customer Barbara Donnelly said.

Wal Mart stores are still offering a short opportunity to use layaway this holiday season. Customers have until November 19th to place items on layaway, and those items have to be picked up by December 8th.