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The Open Door Coalition Launches

SUPPORTING ALTERNATIVE PURCHASE OPTIONS AND GREATER ACCESS FOR THE FINANCIALLY CHALLENGED

ATLANTA, Jan. 15, 2020 /PRNewswire/ -- Some household items can change lives: a home computer for a seventh grader; safer electronics for an older couple; a healthy mattress for a 3-year-old; and a washer and dryer for the whole family. However, for a growing number of financially challenged consumers, the opportunity to make these sorts of key purchases – which can change the lives of their families – is becoming more difficult. For many, in fact, no traditional payment options are even available.

To address this issue, a group of leading retailers and manufacturers has established The Open Door Coalition. The Open Door Coalition seeks to close the opportunity gap and ensure that access to important household necessities is available to all Americans – regardless of their financial status.

"Leasing, rent-to-own, and other alternative ownership opportunities can play a big role in improving lives," said Douglas Lindsay, President of Aaron's, a division of Aaron's Inc. (NYSE: AAN). "Broadening the ability to make key purchases is critical to reducing the opportunity gap."

A key element of the Coalition's mission is credit education. The organization's website is filled with informative content on how consumers can strengthen their financial status, with advice from financial experts on creating and maintaining a budget, reducing debt and improving credit scores.

"Many consumers simply aren't aware of how to best manage their finances," said Lindsay. "By debunking common credit myths and providing financial tips and best practices, the Coalition hopes to empower consumers to better their financial status."

The Coalition's new website, www.opendoorcoalition.com, shares several real-life stories of individuals recovering from debt, divorce, identity theft and other major life changes, who felt they made their living situation better by taking advantage of alternative purchase options. Stories like Melissa's, whose home was "just four walls and a ceiling" when she first moved in after her divorce.

"I started to use rent-to-own because I wasn't financially secure," she said. "I wasn't ready to actually make some purchases or even put anything on credit."

By taking advantage of a rent-to-own program, Melissa was able to begin her new life on the right foot. "It was a fresh start for me. A fresh home for myself," she said.

Founding members of the Coalition include Asus, Amalfi Home Furniture, Ashley Furniture Enterprises, Edison Electronics, Elements, Funai, Lane Home Furnishings, LG Electronics, Mohawk Enterprises, Progressive Leasing, Standard Furniture, Step One Furniture, Steve Silver Co., Woodhaven and Aaron's.

Hear the full story of Melissa's inspirational journey and of others whose lives were changed by alternative purchase options on the Open Door Coalition website: www.opendoorcoalition.com.

FOR FURTHER INFORMATION CONTACT:

contact@opendoorcoalition.com




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SOURCE Open Door Coalition