It has emerged that people's pets are the ones paying the price for personal debt. A frankly shocking report by Sainsbury's Finance showed that 56% of vets questioned had been asked to terminate pets' lives rather owners having to pay costly cures.
Unfortunately only 46% of pet owners take out pet insurance, therefore making any unexpected veterinary emergencies unpayable for those already struggling with debt.
Kevin Still, Director of Atlantic Financial Management, said: “When debt problems get to the point that pet owners take this sort of drastic action, it is clear that we are dealing with a new era of financial stress in the UK. The sad fact is, that in many instances these sorts of desperate measures could be prevented if individuals felt more in control of their debt problems and could see some light at the end of the tunnel.
“This is where a Debt Management Plan can really help. A Debt Advisor will confidentially discuss an individual’s financial circumstances over the phone and provide initial debt advice without obligation. A new schedule of payments can often be negotiated with all the creditors and will ensure rent, mortgage, energy and council tax bills get paid before other unsecured debts leaving the individual with a monthly budget for day to day living costs. Clearly any costs associated with pet ownership would be factored into the monthly budget.”
Darren Gross, an advisor at Eurodebt, commented: ‘’Modern-day financial stress can cause terrible feelings of hardship and depression and it is important for people to realise that one can seek professional solutions which can accommodate these kinds of expenses as part of a debt management plan."
Pet insurance premiums are increasing dramatically, make sure you shop around online to find the best pet insurance deal for you.
If you are a pet owner and worried about debts then contact us now on 0800 988 7701 and we'll do our best to help you.
