Is your pet in debt?
April 25th, 2009 by KittyKitty
Pet ownership has changed over the years.No longer is there Britney Spears of the world going into a LA pet boutique and dropping $3000 on a Yorkie. Do something like that now and suffer the ire of PETA. Even our new president is being affected by the recent developments in the economy. He has realized that you cannot simply enter a pet store and 30 minutes later walk out with a new family member. The president has said that trying to find a new dog for his children is tougher than finding a Commerce secretary. He has been trying to model what a responsible new potential pet owner should be like during a recession, or any other time for that matter. During these times we should consider the needs of all the family members and hold off until the household is settled before inviting a new family member. He is also showing setting a good example by getting a pet from a shelter or rescue organization.
Although the president’s choice of a new family pet, and whether it will be a labradoodle or a Portuguese water dog has been all over the media, the most important story is the unknown future of pets during a period when people are barley to pay for grocery bills.In our nation’s hayday, it was not un-common to see stories that made us giggle and shake our heads about how people would spend exorbitant amounts of money on their pets. They believed that their dogs actually appreciated the posh bottled water that was served to them in a crystal doggie glass. Stories of million dollar doggie trust funds, thousand dollar doggie hotels, pearl necklaces, and other examples of doggie decadence covered the newspapers daily.
Now that the economy has taken a nose dive, stories about pets have transformed and have become much more daunting and deeply depressing. The media all across our country have been reporting about local animal shelters becoming filled far beyond their capacity, often times being forced to euthanize a greater number of otherwise healthy pets simply because of space constraints. Still others have left their pets in foreclosed dwellings or teathered up in back yards of abandoned properties, left to fend for themselves, often times not able to reach food and water slowly starving to death at the end of a lead. The LA times even made pets and the economy their features story of the New Year. Pets are quickly becoming the luxury that can no longer be afforded.
The current downslide follows a previous upswing seen in adoption rates of the recient past. For nearly a decade shelters and rescues have been seeing a steady rise in the rate of adoptions a starke difference from the overwhelming intake and decline in new adoption applications. There is no real way of knowing if we have seen the bottom of this staggering trend or if there is more despair to come. One thing is for certain, it is not getting any better.
Any progress made in the past of educating the public on the need to adopt from breed rescues instead of purchasing from a pet store means nothing if our failing economy causes people to not be able to afford to own a pet or take care of the pets that they already have in their home. Vet costs alone have been a major factor in family’s decisions to give up their beloved pets. With the average vet visit costing in the range of $200 a visit, people often have to decide whether they can spend this month’s credit card payment and unless they find a way to reduce their credit card debt, they often have little choice but to give up their pet.
Another sign of the rapid decline of the luxury pet market was the cancelation New York’s Pet Fashion Week. With all this negative news on the pet industry it is good to mention that pets have all kind of advantages. Vets across the nation have said that pets are an excellent way to lower blood pressure which helps justify spending the money spent on them.
The only way for many people to avoid having to make tough decisions such as of paying bills of buying food for Fido, is to get themselves in a position to weather the economic storm. For many people this could mean entering into a credit card debt settlement program or other ways of lowering their household expenses. Filing for bankruptcy is often not the best choice for these embattled pet owners who do not want to deal with the court system, paying attorney fees nor having the black mark on their credit for up to ten years. Often times credit card counseling, which is run by the creditors, is not a viable option since in most cases the payments are no less and sometimes more then what they are paying at the moment. Again this makes the owner struggle with pet food not to mention vet bills as mentioned earlier.
Whatever program you may decide, should you need debt relief, ensure that you educate yourself on the differences between the programs and fully understand the pitfalls. In most cases talking to someone who can help you in settling your debt can be helpful and is suggested over doing it by yourself.
This discussion over pets and the economy will likely go on for as long as there is an economic crunch in our nation. The main issue is that we either need to deal with the debt we have and survive this recession, or resort to what many have and give up the family dog. Where will this trend stop? Will the next crisis make us to decide whether to buy food for our kids and pay for medical insurance or leave them on the side of the street to go it alone.
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July 7th, 2010 at 4:27 am
Personal debt settlement seems to be increasing as a true solution for people struggling with unsecured credit card debt. For serveral years I have been following the debt settlement pretty closely and it is hard to tell what is delivered for the money. It is obvious that there are a large group of debt settlement companies out there that deliver terrific service and the clients honestly get great benefit, but I’m also aware there are a number of service providers in the market that are focused on collecting new customer fees and enrolling new subscribers. I am sure this is why there seems to be new govt regulation surrounding the credit card debt settlement industry. My sister in law utilized a debt consolidation service provider and is honestly very super satisfied with the overall outcome.