For a limited time, Sears will allow customers who lost their jobs after buying a major appliance with a Sears credit card to suspend payments and, in some cases, keep their purchases.
The offer will be available to consumers who buy appliances and related delivery, installation and repair services totaling more than $399 between today and Aug. 1 and lose their jobs two months to one year after the purchase.
One-twelfth of the purchase price will be credited to their Sears card accounts for every month they are out of work, and the full debt will be forgiven for those unemployed over a year, Sears said.
The trial program, which follows similar debt-forgiveness offers by auto makers, will be coupled with Sears' ongoing 10 percent-, 15 percent- and 20 percent-off sales promotions on appliances. Discounts went as deep as 37 percent during the July 4 weekend.
Customers will be able to file their claims at www.searsbuyerprotection.com.