There are spin-off problems in the home improvement and furniture retail industries anytime we move into a housing recession. It's important to remember that all furniture is local. There are very few true national retailers, save perhaps for Ethan Allen. Levitz is liquidating, and another big regional player -- Wickes Furniture -- is up for auction in bankruptcy. For every regional chain that fails, there will be hundreds of ma-and-pa furniture stores that don't make it.

So why does this matter to you? A lot of people pay deposits for furniture that they haven't taken delivery of yet. If you pay with cash, check or debit card, your money is gone if the retailer fails. In his TV work, Clark has done at least 10 stories standing in front of vacant furniture stores with the camera panning from empty wall to empty wall. It's always the same story: Clark interviews some poor soul who talks about how much money they lost on deposit.

There are only two ways to buy furniture. The first is by seeing it, buying it and taking it home. The other way is to pay via your credit card. Beware if you get past the 6-week mark and the furniture still has not been received. Make sure you file a dispute with your credit card company by the 55th day. A credit card is no better than cash if you go past 60 days without filing a dispute. The dispute will take months to process and really just helps you preserve your rights under the law. You can later release a dispute if your furniture arrives. Some people opt for in-store financing, which is a third gray area. You should have the same rights, in theory, as with a major credit card, but the in-store financing creditors are a hassle to deal with if a furniture store goes bust.