Kmart updates layaway service

HOFFMAN ESTATES, Ill. Kmart has updated its layaway program, allowing customers to pay off their purchased items over an eight-week period.

The program enables customers to make bi-weekly payments at their Kmart store. According to the company, as long as payments are made on time, the merchandise will be held for them.

The layaway program does come with some restrictions. For example, seasonal holiday items must be paid in full and picked up on or before Dec. 5, and home electronics merchandise greater than $200 are excluded for Layaway after Nov. 16.

Kmart said no "new" layaways will be accepted between Dec. 12 and Jan. 2, 2009.