RAC acceptance (memphis tn) rent a center I heard.... liars stated i could use their service and payoff furniture in a couple of months. called in three months for the payoff and it was still the same. they told us to continue to pay a couple more months and we will see a difference and it was a lie the payoff was still the same almost. i paid 250.00 every month and still paying and my 2000.00 furniture is still at 2000.00 for payoff a year later. i asked why the payoff still the same they said should have paid it off early for a lower payoff, i stated i tried but i was told to keep paying to see lower results. they charging me 7000.00+ for my 2000.00 furniture. this worst than a payday loan. memphis Tennessee

Isn't RAC one of those 'rent to own' type places? Did you actually finance your furniture or did you sign a rental agreement?

Get out your contract now to first determine if you have a rental agreement or a rent to own or a finance agreement. In your contract will be all the terms and conditions. If the contract is confusing, take it to legal aid or an attorney for review.

From your post, it really sounds like you are either on a rent to own type contract or just a plain rental agreement for the furniture. Most of those type companies that use RAC don't report your payments to the credit reporting agencies UNLESS you default. You can bet they would report the late payments or default. There should be a provision in the contract for early payoff.