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:
“The country is fed up with children and their problems. For the first time in history, the differences in outlook between people raising children and those who are not are beginning to assume some political significance. This difference is already a part of the conflicts in local school politics. It may spread to other levels of government. Society has less time for the concerns of those who raise the young or try to teach them.”
—Joseph Featherstone (20th century)
“The human heart concerns us more than the poring into microscopes, and is larger than can be measured by the pompous figures of the astronomer.”
—Ralph Waldo Emerson (1803–1882)
“Mr. Christian, it is about time for many people to begin to come to the White House to discuss different phases of the coal strike. When anybody comes, if his special problem concerns the state, refer him to the governor of Pennsylvania. If his problem has a national phase, refer him to the United States Coal Commission. In no event bring him to me.”
—Calvin Coolidge (1872–1933)