What are Some Ways to Handle Veterinarian Bills When You’re Financially Broke?
Pets are an important part of any animal lover’s life. Not only are they sweet creatures, but they also provide support and unconditional love that many people yearn for. In fact, 84% of Americans agree that their pets positively impact their mental health. For many, their pets go beyond the role of companionship by serving as emotional support animals that help them tackle their everyday lives.
Whether or not your animal is emotional support, your pet may mean the world to you. That’s why it can be painful and frustrating to know you have a veterinarian bill that is too expensive to afford! You want to provide the same level of care and comfort your pet gives you, so it’s understandable to feel exasperated in that situation.
Fortunately, there are several practical and effective methods you can use for navigating vet bills when you’re broke or don’t have enough money. Take a look at some examples of effective strategies that can help you today:
Arrange a Payment Plan with Your Veterinarian
Similar to any medical treatment you’d get at the hospital, you can decide to arrange a payment plan with your vet if you can’t pay the bill in full. Most veterinarians offer their own payment plans, but other vets work with a third-party lender to help with your transaction.
Regardless of the method your veterinarian uses for installment plans, it’s possible that your veterinarian clinic will map out a weekly or monthly payment system. This allows you to work out an amount you can comfortably afford over time, ensuring you can cover the expense without draining your entire budget. Once you’ve agreed on a strategy with your vet, you can even opt to set up automatic payments from your checking account to make the process more convenient for you.
Consider Using a CareCredit Card
Health insurance can be beneficial when covering medical expenses. However, it’s worth mentioning that insurance doesn’t pay for everything since it only covers some portions of your overall bill. If you have insurance but are struggling to pay the remaining balance, you can consider applying for a CareCredit Card to manage that payment.
Like a regular credit card, you will have to make consistent, monthly payments ranging from short-term financing options of 6-24 months or longer terms ranging from 24-48 months total. Be aware that CareCredit Card offers a no-interest promotional period to repay your card, but you’ll owe interest on the entire original amount if you don’t finish your payments by the end. You will also have to cover a late fee if you miss a single due date, so ensure you keep track of your monthly payments.
If you’re interested in applying for a CareCredit Card, you will be pleased to know that the requirements are pretty straightforward. All you have to do is meet the age criteria (21 and over) and provide a completed copy of the credit card agreement online or in person. If you apply in person, you must travel to a healthcare provider that works with CareCredit Card or a retail store that offers it.
Apply for an Emergency Loan
An emergency loan can be a solution to consider when struggling with a veterinarian bill. However, you need to research every loan option available to compare their features and how they can help you in your situation. Not every loan has your best interest in mind, so you must ensure they benefit you and your budget.
In case you don’t know, loans are typically secured or unsecured. With a secured loan, an applicant must provide an asset as collateral in exchange for the funding they need for their expenses. On the other hand, unsecured loans don’t work with collateral and will only supply funds based on an applicant’s creditworthiness. Because of this, unsecured loans typically offer higher interest rates than those from a secured loan.
Keep in mind that secured loans are comparatively easier to apply for than unsecured ones. However, some risks should be considered before applying for a secured loan. For example, if you default on an auto title loan, you risk losing your vehicle to a repossession, which can leave a negative mark on your credit report. But, you can avoid that consequence as long as you’re on time with your monthly payments. If you apply for a secured loan from LoanMart it’s possible that you’d get a significant loan amount for your vet bill than an unsecured loan.
Get Money with a Fundraiser
If you can’t afford to repay loans or credit cards, you can always try the option of fundraising. With that option, you don’t have to pay anything to receive cash, and you don’t have to put pressure on someone specific to give you money. You only have to publicize your fundraising goal and wait for people to help you with your cause.
For a long time, people had to raise money by asking individuals for assistance in front of a store, going on television to receive help, or visiting different houses asking for donations. But now, you can bypass those hassles and take charge of your fundraising journey from the comfort of your home! Simply pick a crowdfunding platform like GoFundMe or Indiegogo and launch your fundraiser through various channels. You can send emails with a link to your fundraiser or share the platform with your friends via social media. However, before you go live with your fundraiser, it’s crucial to test the platform yourself to ensure a smooth experience and avoid any potential glitches and errors.
Speaking of social media, if you want a different crowdfunding platform, you can raise money through fundraising options on Facebook or Instagram. All you have to do is follow their instructions and instantly publish your cause on the feed. If you want a direct approach, you can also send the fundraiser through messages to all of your friends list. Ensure you write a detailed post about your crowdfunding campaign before launching it to get people on board with the cause.
Conclusion – Use a Practical Method for Navigating Your Vet Bills Today!
Covering your pet’s medical care doesn’t have to be impossible if you implement an effective strategy. While you can use the previously mentioned methods, there are also other techniques you can use to alleviate your situation. Research different strategies online and pick the one that fits your preferences. However, it’s important to read each option carefully before settling on a method that won’t benefit you in the long run. You can always get assistance by contacting a financial advisor to guide you on the best plans to cover your veterinarian bills today.
