This story is astonishing. I had no idea this was even legal. If you miss a payment does your dog get repossessed? What if your pooch passes away before the term of the lease is over? Are you still on the hook for payments?
This is from Business Insider and written by Jason Lalljee.
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Hold on to that leash.
Whether or not you're aware, you may be a pet leaser, rather than a pet owner — and, if you live in the 42 states where pet leasing is still legal, a collection agency could seize the four-legged member of your family if you're unable to pay your bills.
Massachusetts Attorney General Maura Healey announced this week that California-based Monterey Financial Services, LLC has agreed to provide more than $930,000 in debt relief and restitution to resolve accusations that it was illegally leasing dogs in Massachusetts. In addition to waiving outstanding debt held by customers, the settlement includes transferring full ownership of hundreds of dogs back to Massachusetts residents.
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