Rent-a-center
I truly believe Rent-A-Center is ripping me off. Someone help!

Ok so I've been renting from rent-a-center since june of last year. My total monthly payment is 188.24 cents, which includes tax. Without tax it's 160. The guy told me that I'm on a 27 month contract, and that I still have 10 more months to go. Ok cool, BUT when I asked how much I still owe he told me 1001 dollars and some cents. Ok I'm not the smartest person in the world but 160x10 = 1600.. 188x10= 1880 which is Way more than 1001 dollars. He then proceeded to tell me that only 45% of my 188 dollars is going towards my actual pay off balance which is 1001 dollars. 45% of 188 is 85 dollars. 85x10 (10 being the amount of months i have left) still equals 850 which is NOT 1001. Oh, and the bedroom set's 90 day payout was 2100. It then went up to 4200 after I didnt pay it out in the 90 days. I have a receipt from Nov of last year stating that I only owed 2164. Ok 1 year later and 12 payments later how can I still owe 1001 dollars when I'm paying 188 dollars a month?

Is it true that only 45% of your payment only goes to your merchandise and the other 55% is pocketed by rent-a-center? Can they even do that or is my entire 188 dollars that I give them EVERY month suppose to go towards my 1001 that they claim i still owe?

Company: Rent-a-center
Country: USA
State: Texas
City: Houston
Site: rentacenter.com

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