Families across 43 US states could get refunds, debt relief after rent-to-own deals advertised as 90-day plans allegedly doubled costs

Families across 43 US states could receive refunds and debt relief under a proposed $183.5 million settlement with rent-to-own finance company Acima Digital, following allegations that the company misled customers about payment plans advertised as 90-day deals. According to Pennsylvania Attorney General Dave Sunday's November 12 announcement, the multistate agreement resolves allegations that consumers were automatically enrolled in rental-purchase agreements lasting up to 12 months, potentially leaving them paying nearly twice the original cash price of furniture, electronics and other merchandise.

The settlement includes $43 million in consumer refunds, $130 million in lease balance reductions and $10.5 million for participating states.The agreement involves Acima Digital LLC and its parent company, Acima Holdings LLC. The company partners with retailers to offer customers rent-to-own arrangements, allowing them to obtain merchandise immediately and make payments over an agreed period.