Concerns
In recent years, reports in the media have raised concerns about the use of consolidation loans. The worry is that many people are tempted to consolidate unsecured debt into secured debt, usually secured against their home. Although the monthly payments can often be lower, the total amount repaid is often significantly higher due to the long period of the loan. Debt consolidation sometimes only treats the symptoms of debt and does not address the root problem. In some circumstances, snowballing debt may be a better solution.
Read more about this topic: Debt Consolidation
Famous quotes containing the word concerns:
“I have no doubt that it was a principle they fought for, as much as our ancestors, and not to avoid a three-penny tax on their tea; and the results of this battle will be as important and memorable to those whom it concerns as those of the battle of Bunker Hill, at least.”
—Henry David Thoreau (1817–1862)
“A man sees only what concerns him.... How much more, then, it requires different intentions of the eye and of the mind to attend to different departments of knowledge! How differently the poet and the naturalist look at objects!”
—Henry David Thoreau (1817–1862)
“Universal empire is the prerogative of a writer. His concerns are with all mankind, and though he cannot command their obedience, he can assign them their duty. The Republic of Letters is more ancient than monarchy, and of far higher character in the world than the vassal court of Britain.”
—Thomas Paine (1737–1809)