If you don't make timely payments on your rent-to-own agreement, they have the right to repossess the article(s) and keep all the money you've paid them up to that point in time.  This gets somewhat tricky, though, when you buy several things on the same contract.  Make sure that your contract lists each item separately, and make a separate payment on each item;  if you don't list each item separately, the seller could repossess all the items if you miss a payment on just one item. 
Author: Iowa Concern Attorney