Quick Ways to Find Funds for Pet Emergencies
6 Min Read
Reviewed by Latoria Williams Pets have always been our companions. Dogs and cats used to serve practical purposes, but now they are considered another family member. That’s why it’s heartbreaking when something happens to them and you don’t have enough money to help your four-legged friend get better.
In this article we’ll navigate various ways you can get quick funds for their treatment. Let’s dive into loans for pet emergencies as well as useful tips on how to stay prepared and take care of your pet in an urgent situation.
Where to Get Money for a Pet Health Emergency
There are plenty of ways you can get financial assistance to handle vet expenses.
Personal Loan
If your pet needs a complicated surgery or tests, a personal loan is a good option. You need to have a credit score of over 680 to qualify – the better the score the lower your annual percentage rate (APR) will be. You can get from $1,000 to $100,000 depending on your income, which means it might be more than sufficient to cover all of your vet expenses.
The average APR is between 5.99% and 35.99%. Personal loans have flexible repayment schedules with the periods ranging from 12 to 60 months. As this is an unsecured loan, you do not need to provide any collateral. Just keep in mind that there will be a credit check, so your loan will appear on your credit report.
Your credit is not that good? Read about personal loan options for a 600 credit score.
Bad Credit Installment Loans
If your credit score is not great or you need money as soon as possible, installment loans are your go-to option. As long as you have proof of stable monthly income, your bad credit doesn’t matter. You can get up to $5,000 for a period of 2 to 24 months.
The APR for these loans varies between 16% and 200%, and they do not appear on your credit history. Installment loans are also faster in terms of processing and funding. You receive the lender’s decision almost instantly and are usually funded within 1 to 2 business days.
Credit Cards
A credit card is the fastest way to get emergency money. You can either use the card to pay for the procedures or get a cash advance. For normal purchases, you have a grace period and will only incur interest on the unpaid debt. Cash advances don’t offer this perk, and your interest is calculated daily and added to the total amount as soon as you withdraw your cash.
The typical interest is between 18% and 30% and the limit is about $10,000. Cash advances come with a higher APR of around 17.99% to 29.99%.
Family and Friends
Borrowing from family and friends is also a great solution since you usually won’t pay any interest. Your close ones might not give you years to repay the money so be ready for higher monthly payments or even a one-time full repayment. If you choose this option, our article on how to ask for money can be helpful.
To help the person you ask feel more comfortable to lend you money, you need to have a realistic and responsible approach. Analyze your repayment ability and do not borrow more than you can afford to return. Present your repayment plan to set the right expectations. Otherwise, not only you’ll acquire debt you can’t handle but you’re also likely to damage your relationship with the lender.
Pet Insurance
If you want to always be prepared for unexpected diagnostic and treatment expenses, you can look into pet insurance plans. You will typically be charged $20-$70 monthly, and this service will cover up to 90% of vet expenses when something happens.
The actual plans and prices vary from one company to another. Some only provide coverage for accidents and emergency situations while others have a more general approach. You can check what is available in your state to make sure your pet’s health is taken care of regardless of your financial situation.
Charitable Organizations
Organizations like The Pet Fund, RedRover Relief and Brown Dog Foundation offer financial assistance for pet emergencies. Each institution has its own terms and requirements, so be sure to check whether their offerings meet your needs.
Additionally, if you need long-term financial support, you could start a GoFundMe page and try to get people’s attention. This approach does not guarantee you will be funded, and it can take significantly more time. However it’s a good last-resort option for extremely costly procedures like cancer treatments or kidney transplant surgeries.
Pet Loans for Emergency Vet Bills
Depending on where you are, you might have access to veterinary payment plans. Some clinics allow you to make interest-free monthly payments, while others provide this service for a cost. Regardless of the terms, you may be able to work with the clinic directly in order to reach an agreement regarding pet care payments.
These pet loans typically require a credit check and a legal agreement. If you find a clinic that allows monthly payments, be sure to check the eligibility criteria first. If you qualify, prepare all the necessary documents to avoid wasting time and help your companion as soon as possible.
How to Prepare for Pet Emergencies
Being prepared for emergencies will allow you to help your pet as soon as possible. Here are some tips.
Put Aside an Emergency Fund
Life is full of surprises, and you always need to have an emergency fund for the bad ones. Put aside a small amount of money from each paycheck and leave that piggy bank alone. It might seem hard to save enough, however, those $100 you set aside in the first month will transform into $500 and $5,000 over time as long as you consistently top up the jar.
Keep a First Aid Kit
Some people don’t realize that pets can have very similar problems to people’s, such as allergies, choking and accidental wounds. To quickly help your pet, you should have a well-stocked first aid kit. It can include:
- Gauze, non-stick bandages, and adhesive tape to bandage wounds.
- 3% hydrogen peroxide as an antiseptic and vomit-inducing solution.
- Charcoal to help in case of poisoning.
- Thermometer to keep track of the pet’s temperature.
- Tweezers can help remove splinters or ticks.
- Syringes for oral medication.
- E-collar to prevent your pet from touching its wounds.
These are general recommendations. Contact your vet to get specialized medical advice.
Research Local Emergency Vets
Even if your pet is healthy and happy, it’s crucial to know what clinic can treat you in an emergency. Check what emergency pet hospitals are available in your area and save their address and contact information. This will help get professional assistance as soon as possible.
Vet Bills for Emergency Procedures
Below is an overview of common prices for various procedures. Reach out to your clinic for up-to-date costs.
| Procedure | Approximate Price |
|---|---|
| Broken Bone Repair | $470 – $5,150 |
| Hernia Pet Surgery | $500 – $2,000 |
| Poisoning Treatment | $500 – $2,000 |
| Emergency Surgery | $1,500 – $5,000 |
| Diagnostic Tests (X-ray and blood tests) | $230 – $450 |
| Overnight Hospitalization | $600 – $1,200 |
Bottom Line
If your pet has sudden health issues, and your savings are not enough to cover the treatment cost, you don’t have to simply watch your pet suffer. Look into loans for pet emergencies and charitable organizations or ask a family member to lend you money. Either way, it’s vital to act fast and get professional medical help as soon as possible.
Being prepared is also extremely important. Be sure to have the number and address of the closest emergency vet clinic on hand. It’s crucial to keep a first aid kit for your pet to provide prompt initial care. By being informed and making quick and rational decisions, you can ensure your companion receives the best possible pet care when they need it the most.
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