White Mountain Partners Shares Alternatives Other Than Your Credit Card For Paying Your Pet’s Medical Bills
Something as pressing as a pet’s medical care can’t wait. In a situation as dire as this, it is easy to turn to credit cards to pay for treatments, medication, and surgeries. If you find yourself faced with unexpected expenses when treating your pet, consider the following alternatives to using a credit card:
1. Pet Insurance
Like any other form of health insurance, pet insurance is important for all pet owners to have. This insurance helps offset vet bills when you’re faced with a pet emergency or illness. As insurance policies vary, it’s best to do your research to find the right policy for you and your pet.
When looking into pet insurance, keep in mind that most policies require pet owners to pay their veterinary bills upfront. As long as you’re prepared to handle these costs out-of-pocket, your pet insurance will reimburse these expenses with a check.
2. Scratchpay
Regardless of what type of pet you have, you can use Scratchpay to pay down your veterinary costs. This payment plan provides pet parents with the option to pay the balance within 90 days to avoid incurring interest. Similarly, pet owners can make a monthly payment during a period between 12 – 24 months with interest. As long as the vet clinic or pet hospital is registered with Scratchpay, you’ll be able to use this option for your pet.
3. Charitable Organizations
When faced with mounting vet bills and a pet in need, you may be tempted to turn to credit cards. Before taking the plunge into debt, consider the option of charitable organizations. These organizations help pet parents pay down the cost of their pet’s medical bills. After applying to these organizations, aid will be provided based on income. Though funds aren’t available for emergency pet care, these organizations provide real financial assistance that can help you meet your pet’s needs.
4. Crowdfunding
When facing a dire emergency, social media has proved crowdfunding to be successful time and time again. Through the likes of GoFundMe and IndieGoGo, you can start a campaign to help find financial support for your pet’s medical bills. Through the power of crowdfunding, you’ll be able to turn to friends, families, and strangers to help fund your pet care.
5. Emergency Savings Account
Just as it’s beneficial to save money in case of a personal emergency, it’s a good idea to do the same for your pet. By putting a little money away with each paycheck, you’ll be able to build a sizable emergency savings fund that you can use for your pet in times of emergency. White Mountain Partners recommend putting your savings into a high-interest account, this way you’ll be able to make the most of this emergency fund when the time comes.
6. Personal Loan
If you’re in desperate need of fast cash for a pressing medical emergency, consider a personal loan. These personal loans are quick to get and are a preferred option to using credit cards. Experts at White Mountain Partners point out that as these loans are for fixed amounts, they provide borrowers with better structure than credit cards do. Instead of paying off the minimum each month as you would with a credit card, personal loans require borrowers to pay off the loan in full at the end of the term.
Even in an emergency situation, you don’t have to turn to rely on credit cards. Keep these options in mind as you look for credit card alternatives to providing your pet with the medical attention they need
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